Cerebras Systems Inc. announced its financial results for the third quarter ended September 30, 2026, reporting record revenue and raising its full-year financial outlook. The company reported GAAP total revenue of $210.8 million for the quarter, representing a 55% increase from the same period in the previous year. Within this total, GAAP cloud and other services revenue reached $141.9 million, a 265% year-over-year increase.
On a non-GAAP basis, which excludes certain non-cash items, the company reported core total revenue of $230.9 million, up 70% year-over-year. Core cloud and other services revenue was $144.9 million, up 272% from the prior year. The company noted that its GAAP gross margin was 20% for the quarter, while its core gross margin was 41%.
Cerebras updated its financial outlook for the remainder of the year. For the fourth quarter of 2026, the company expects core revenue of approximately $310 million to $330 million, with core gross margins projected between 47% and 49%. For the full year 2026, the company raised its core revenue guidance to a range of $940 million to $960 million, with core gross margins expected to be between 42% and 44%.
On the business front, Cerebras highlighted the signing of contracts for 700 gross megawatts of data center capacity, scheduled for delivery by the end of 2027. The company also secured a new cloud deal with a top three hyperscaler and announced an integration of its technology into Oracle Cloud Infrastructure, which is set to launch in 2027. Additionally, Cerebras reported $26.1 billion in remaining performance obligations as of September 30, 2026.
