Cerebras Systems Inc. (CBRS) Balance Sheet
CBRS balance sheet, 2025
December 31, 2025 · U.S. dollars$2.33B assets = $2.90B liabilities + −$578.7M equity
Liabilities exceed assets: shareholders’ equity is negative (−$578.7M).
Both columns are drawn to the same scale: what CBRS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CBRS financial health
Descriptive bands, not a rating. Fiscal 2025.
CBRS balance sheet trends, 2022–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $281.5M2022 | $2.33B2025 | +102.2%/yr | |
| Total liabilities | $747.8M2022 | $2.90B2025 | +57.2%/yr | |
| Shareholders’ equity | −$466.3M2022 | −$578.7M2025 | — | |
| Cash & short-term investments | $225.3M2022 | $1.11B2025 | +70.1%/yr | |
| Total debt | $1.3M2022 | $261.8M2025 | +486.5%/yr | |
| Net cash (debt) | $224.0M2022 | $846.4M2025 | +$622.4M | |
| Working capital | $231.4M2022 | $824.1M2025 | +$592.7M | |
| Book value per share | −$2.172022 | −$2.692025 | — | |
| Current ratio | 11.612022 | 2.152025 | −9.47 | |
| Shares outstanding | 215.2M2022 | 215.2M2025 | 0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CBRS assets
CBRS liabilities and equity
CBRS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CBRS balance sheet
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $1.11B | $337.2M | $152.4M | $225.3M |
| Cash & equivalents | $701.7M | $220.2M | $34.8M | $26.1M |
| Short-term investments | $406.5M | $116.9M | $117.6M | $199.3M |
| Receivables | $74.0M | $150.6M | $6.8M | $5.1M |
| Inventory | $63.6M | $174.5M | $49.1M | $19.5M |
| Other current assets | $297.8M | $368.2M | $4.1M | $3.2M |
| Total current assets | $1.54B | $1.03B | $212.3M | $253.2M |
| Property, plant & equipment (net) | $686.3M | $79.7M | $13.0M | $28.1M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 |
| Other non-current assets | $96.0M | $2.5M | $173,000 | $250,000 |
| Total assets | $2.33B | $1.11B | $225.5M | $281.5M |
| Liabilities | ||||
| Accounts payable | $48.6M | $25.6M | $14.7M | $5.0M |
| Short-term debt | $45.9M | $13.3M | $318,000 | $736,000 |
| Deferred revenue | $485.5M | $678.9M | $13.7M | $2.6M |
| Total current liabilities | $719.5M | $1.18B | $54.6M | $21.8M |
| Long-term debt | $0 | $0 | $0 | $0 |
| Lease obligations | $261.8M | $40.7M | $560,000 | $1.3M |
| Other long-term liabilities | $2.19B | $901.4M | $729.8M | $726.0M |
| Total liabilities | $2.90B | $2.08B | $784.5M | $747.8M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $1,000 | $1,000 | — | — |
| Retained earnings (deficit) | −$905.3M | −$1.14B | −$661.6M | −$534.4M |
| Accumulated other comprehensive income | $1.3M | $220,000 | $1.1M | −$319,000 |
| Total shareholders' equity | −$578.7M | −$966.8M | −$559.0M | −$466.3M |
| Key figures | ||||
| Total debt | $261.8M | $40.7M | $560,000 | $1.3M |
| Net cash (debt) | $846.4M | $296.5M | $151.8M | $224.0M |
| Working capital | $824.1M | −$147.7M | $157.7M | $231.4M |
| Tangible book value | −$578.7M | −$966.8M | −$559.0M | −$466.3M |
| Book value per share | −$2.69 | −$4.49 | −$2.60 | −$2.17 |
| Shares outstanding | 215.2M | 215.2M | 215.2M | 215.2M |
| Current ratio | 2.15 | 0.87 | 3.89 | 11.61 |
| Quick ratio | 1.64 | 0.41 | 2.91 | 10.57 |
| Equity / assets | −24.9% | −86.9% | −247.9% | −165.7% |
| Jun '26 | Mar '26 | Dec '25 | Dec '24 | Jun '24 | Mar '24 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $8.61B | $3.26B | $1.34B | $337.2M | $209.5M | $209.5M |
| Cash & equivalents | $7.43B | $2.75B | $930.4M | $220.2M | $90.9M | $90.9M |
| Short-term investments | $1.18B | $515.6M | $406.5M | $116.9M | $118.6M | $118.6M |
| Receivables | $164.1M | $96.8M | $71.5M | $150.6M | $5.8M | $5.8M |
| Inventory | $32.7M | $89.0M | $63.6M | $174.5M | $78.0M | $78.0M |
| Other current assets | $318.7M | $134.4M | $71.6M | $368.2M | $278.5M | $278.5M |
| Total current assets | $9.12B | $3.58B | $1.54B | $1.03B | $571.8M | $571.8M |
| Property, plant & equipment (net) | $1.52B | $925.7M | $686.3M | $79.7M | $48.4M | $48.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $991.1M | $441.7M | $96.0M | $2.5M | $2.6M | $2.6M |
| Total assets | $11.63B | $4.95B | $2.33B | $1.11B | $622.9M | $622.9M |
| Liabilities | ||||||
| Accounts payable | $88.3M | $50.3M | $48.6M | $25.6M | $13.4M | $13.4M |
| Short-term debt | $824.5M | $687.5M | $45.9M | $13.3M | $7.9M | $7.9M |
| Deferred revenue | $173.7M | $149.9M | $131.0M | $678.9M | — | — |
| Total current liabilities | $1.57B | $1.43B | $719.5M | $1.18B | $442.7M | $442.7M |
| Long-term debt | $182.2M | $361.6M | $0 | $0 | $0 | $0 |
| Lease obligations | $568.8M | $378.7M | — | $40.7M | — | — |
| Other long-term liabilities | $724.9M | $406.8M | $251.8M | $901.4M | $36.7M | $36.7M |
| Total liabilities | $2.47B | $2.20B | $971.3M | $2.08B | $479.4M | $479.4M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $2,000 | $1,000 | $1,000 | $1,000 | — | — |
| Retained earnings (deficit) | −$1.37B | −$919.3M | −$905.3M | −$1.14B | −$728.2M | −$728.2M |
| Accumulated other comprehensive income | $5.8M | $3.4M | $1.3M | $220,000 | $549,999 | $549,999 |
| Total shareholders' equity | $9.15B | $2.75B | $1.35B | −$966.8M | $143.5M | $143.5M |
| Key figures | ||||||
| Total debt | $1.49B | $1.36B | $261.8M | $40.7M | $28.0M | $28.0M |
| Net cash (debt) | $7.12B | $1.90B | $1.08B | $296.5M | $181.5M | $181.5M |
| Working capital | $7.56B | $2.15B | $824.1M | −$147.7M | $129.1M | $129.1M |
| Tangible book value | $9.15B | $2.75B | $1.35B | −$966.8M | $143.5M | $143.5M |
| Book value per share | $60.64 | $12.15 | $6.29 | −$4.49 | $0.67 | $0.67 |
| Shares outstanding | 151.0M | 226.5M | 215.2M | 215.2M | 215.2M | 215.2M |
| Current ratio | 5.82 | 2.51 | 2.15 | 0.87 | 1.29 | 1.29 |
| Quick ratio | 5.60 | 2.35 | 1.96 | 0.41 | 0.49 | 0.49 |
| Debt / equity | 0.16 | 0.49 | 0.19 | — | 0.19 | 0.19 |
| Equity / assets | 78.7% | 55.6% | 58.2% | −86.9% | 23.0% | 23.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
CBRS financial position
At the end of fiscal 2025 (December 31, 2025), Cerebras Systems had total assets of $2.3 billion (up 109.0% from a year earlier), total liabilities of $2.9 billion and shareholders' equity of -$578.7 million. It held $1.1 billion in cash and short-term investments against $261.8 million of debt, a net cash position of $846.4 million. Its current ratio was 2.15. In the latest quarter (ended June 30, 2026) total assets were $11.6 billion and equity $9.2 billion.
Related: CBRS income statement, CBRS cash flow statement, CBRS key metrics. See the CBRS stock overview for the latest quote and news.
CBRS balance sheet FAQ
What are Cerebras Systems's total assets?
Cerebras Systems reported total assets of $2.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.1 billion a year earlier.
How much debt does Cerebras Systems have?
Cerebras Systems had $261.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Cerebras Systems have?
Cerebras Systems held $1.1 billion in cash and short-term investments at the end of fiscal 2025; with $261.8 million of debt that is net cash of $846.4 million.
What is Cerebras Systems's book value?
Cerebras Systems's shareholders' equity (book value) was -$578.7 million at the end of fiscal 2025, or −$2.69 per share.
What is Cerebras Systems's current ratio?
Cerebras Systems had current assets of $1.5 billion and current liabilities of $719.5 million, a current ratio of 2.15 (it can cover its short-term obligations).