Cerebras Systems Inc. (CBRS) Income Statement
CBRS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCBRS revenue and net income
Where CBRS's revenue goes
2025Each bar shows an amount and its share of revenue. CBRS kept 46.6% of revenue as net income.
CBRS profit margins
CBRS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +75.7% | +174.6% | — | — |
| Gross profit | +62.2% | +309.9% | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CBRS quarterly EPS vs estimates
Cerebras Systems beat the analyst EPS estimate in 2 of the last 2 quarters. Next report: November 11, 2026 (estimate $-0.13).
CBRS income statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $510.0M | $290.3M | $78.7M | $24.6M |
| Cost of revenue | $310.9M | $167.5M | $52.4M | $21.7M |
| Gross profit | $199.1M | $122.7M | $26.4M | $2.9M |
| Research & development | $243.3M | $158.2M | $140.1M | $155.4M |
| Sales, general & admin | $101.6M | $65.9M | $20.2M | $26.3M |
| Total operating expenses | $344.3M | $224.4M | $160.3M | $181.7M |
| Operating income | −$145.3M | −$101.6M | −$133.9M | −$178.8M |
| Interest income | $26.8M | $23.2M | $5.7M | $1.1M |
| Income before taxes | $244.9M | −$479.7M | −$127.0M | −$177.5M |
| Income taxes | $7.1M | $1.9M | $132,000 | $204,000 |
| Net income | $237.8M | −$481.6M | −$127.2M | −$177.7M |
| EBITDA | $279.3M | −$468.1M | −$116.4M | −$165.6M |
| EPS (diluted) | $1.10 | −$2.24 | −$0.59 | — |
| Gross margin | 39.0% | 42.3% | 33.5% | 11.7% |
| Operating margin | −28.5% | −35.0% | −170.1% | −726.4% |
| Net margin | 46.6% | −165.9% | −161.5% | −721.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $180.1M | $193.4M | $171.4M | $135.7M | $103.3M | $99.5M | $81.5M | $72.3M | $68.2M | $68.2M | $4.3M | $4.3M |
| Cost of revenue | $154.6M | $107.2M | $101.2M | $80.6M | $71.2M | $57.9M | $46.8M | $40.3M | $40.2M | $40.2M | $2.1M | $2.1M |
| Gross profit | $25.6M | $86.2M | $70.2M | $55.1M | $32.1M | $41.6M | $34.7M | $32.0M | $28.0M | $28.0M | $2.2M | $2.2M |
| Research & development | $320.2M | $75.5M | — | — | $60.8M | $52.8M | — | — | $38.9M | $38.9M | $38.1M | $38.1M |
| Sales, general & admin | $182.6M | $25.7M | — | — | $28.5M | $17.3M | — | — | $10.0M | $10.0M | $4.5M | $4.5M |
| Total operating expenses | $502.8M | $101.2M | $104.0M | $81.6M | $89.3M | $70.1M | $75.0M | $51.4M | $48.9M | $48.9M | $42.7M | $42.7M |
| Operating income | −$477.2M | −$15.0M | −$33.7M | −$26.5M | −$57.2M | −$28.5M | −$40.2M | −$19.4M | −$20.9M | −$20.9M | −$40.5M | −$40.5M |
| Interest income | $48.8M | $22.7M | — | — | $5.3M | $6.5M | — | — | — | — | — | — |
| Interest expense | $19.7M | $18.9M | — | — | $0 | $0 | — | — | — | — | — | — |
| Income before taxes | −$450.3M | −$12.5M | −$25.6M | −$22.2M | $309.5M | −$23.9M | −$105.7M | −$309.3M | −$33.1M | −$33.1M | −$38.9M | −$38.9M |
| Income taxes | $274,000 | $1.5M | — | — | — | — | — | — | $159,500 | $159,500 | $36,000 | $36,000 |
| Net income | −$450.5M | −$14.0M | −$25.6M | −$22.2M | $309.5M | −$23.9M | −$105.7M | −$309.3M | −$33.3M | −$33.3M | −$38.9M | −$38.9M |
| EBITDA | −$425.9M | $3.1M | −$25.6M | −$22.2M | $309.5M | −$23.9M | −$105.7M | −$309.3M | −$31.1M | −$31.1M | −$36.0M | −$36.0M |
| EPS (diluted) | −$0.04 | −$0.04 | — | — | — | — | — | — | — | — | — | — |
| Gross margin | 14.2% | 44.6% | 41.0% | 40.6% | 31.1% | 41.8% | 42.6% | 44.3% | 41.1% | 41.1% | 50.5% | 50.5% |
| Operating margin | −265.0% | −7.8% | −19.7% | −19.5% | −55.3% | −28.6% | −49.4% | −26.8% | −30.7% | −30.7% | −935.1% | −935.1% |
| Net margin | −250.1% | −7.2% | −14.9% | −16.4% | 299.6% | −24.0% | −129.6% | −427.7% | −48.8% | −48.8% | −898.2% | −898.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CBRS's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CBRS financial results
In fiscal year 2025 (ended December 31, 2025), Cerebras Systems reported revenue of $510.0 million, up 75.7% from the year before. It had net income of $237.8 million, a net profit margin of 46.6%. Diluted earnings per share came to $1.10.
See the CBRS stock overview for the latest quote and news, or the CBRS chart for price history and technical indicators.
CBRS income statement FAQ
What is Cerebras Systems's annual revenue?
Cerebras Systems reported total revenue of $510.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 75.7% from $290.3 million the previous year.
Is Cerebras Systems profitable?
Yes. Cerebras Systems reported net income of $237.8 million in fiscal 2025, a net profit margin of 46.6%; its operating margin was −28.5%.
What is Cerebras Systems's gross margin?
Cerebras Systems's gross margin was 39.0% in fiscal 2025: for every $100 of revenue, Cerebras Systems kept $39 after the direct cost of its products and services.
How much does Cerebras Systems spend on research and development?
Cerebras Systems spent $243.3 million on research and development in fiscal 2025, 47.7% of revenue.
What are Cerebras Systems's earnings per share?
Cerebras Systems earned $1.10 per diluted share in fiscal 2025, compared with $-2.24 a year earlier.
When will Cerebras Systems report its next earnings?
Cerebras Systems is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does Cerebras Systems's fiscal year end?
Cerebras Systems's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.