CBRS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-12

• In June 2026, we entered into a global hardware leasing agreement with Amazon Web Services (“AWS”) to collaborate on the development and deployment of a joint compute solution in AWS data centers, together with related software and support services. As of June 30, 2026, the applicable lease commence…

• We expect overall gross profit will increase in absolute dollars in the near term, primarily due to higher gross profit from Cloud and other services as revenue increases in connection with the continued ramp-up of dedicated cloud capacity deployments.

• For such RSUs, we recognize stock-based compensation expense using the accelerated attribution method over the requisite service period if it is probable that the performance conditions will be achieved. We recognized $273.6 million of stock-based compensation expense during the six months ended Jun…

• Total revenue for the three months ended June 30, 2026 increased by $76.8 million, or 74%, compared to the same period in 2025. Revenue for the six months ended June 30, 2026 increased by $170.7 million, or 84%, compared to the same period in 2025. The increases were primarily attributable to higher…

• Hardware revenue decreased by $16.2 million, or 23%, for the three months ended June 30, 2026, compared to the same period in 2025. The decrease was primarily attributable to $28.0 million in amortization of customer warrant assets as a reduction of revenue. This was partially offset by $11.9 millio…

Text removed vs the prior filing · source: 10-Q · 2026-06-24

• We expect overall gross profit will decrease in absolute dollars in the near term, driven by start-up costs related to expediting the availability of cloud capacity to fulfill the significant increase in near-term demand.

• For such RSUs, we recognize stock-based compensation expense using the accelerated attribution method over the requisite service period if it is probable that the performance conditions will be achieved. For the three months ended March 31, 2026 and 2025, no stock-based compensation expense has been…

• Total revenue for the three months ended March 31, 2026 increased by $93.9 million, or 94%, compared to the same period in 2025.

• Hardware revenue increased by $40.9 million for the three months ended March 31, 2026 compared to the same period in 2025. The increase in hardware revenue was driven by demand for on-premises hardware solutions. This was net of $1.0 million in amortization of customer warrant assets.

• Cloud and other services revenue increased by $53.0 million for the three months ended March 31, 2026 compared to the same period in 2025. The increase was primarily due to an increase of $49.9 million in non-pass-through related cloud and other services revenue due to increased demand for our cloud…

Text added vs the prior filing · source: 10-Q · 2026-08-12

• improvements. In some circumstances, we may also choose to scale our technology through the acquisition of complementary businesses and technologies rather than through internal development, which may divert management’s time and resources. To the extent that we cannot or do not effectively scale ou…

• A substantial portion of our revenue is driven by a limited number of customers. Mohamed bin Zayed University of Artificial Intelligence (“MBZUAI”) accounted for 34% and 70% of our total revenue for the three months ended June 30, 2026 and 2025, respectively, and 49% and 47% for the six months ended…

• In addition, as of June 30, 2026, we had stock options outstanding that, if fully exercised, would result in the issuance of 21,906,818 shares of our Class A common stock and 5,315,618 shares of our Class B common stock and 15,145,010 shares of our Class A common stock and 12,483,860 shares of our C…

Text removed vs the prior filing · source: 10-Q · 2026-06-24

• A substantial portion of our revenue is driven by a limited number of customers. Group 42 Holding Ltd (together with its affiliates, “G42”) accounted for 11% and 64% of our total revenue for the three months ended March 31, 2026 and 2025, respectively, and in the three months ended March 31, 2026 an…

• In addition, as of March 31, 2026, after giving effect to (i) the reclassification of our outstanding Class A common stock into a newly created Class B common stock and the authorization of a new Class A common stock, which occurred in connection with the IPO, (ii) the net issuance of 2,550,477 shar…

Text added vs the prior filing · source: 10-Q · 2026-08-12

• During the three months ended June 30, 2026, the following directors or officers (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934, as amended) adopted, modified, or terminated a trading arrangement intended to satisfy the affirmative defense of Rule 10b5-1(c) (each a “Rule 10b5-1 …

• Director or OfficerActionDate of ActionTotal Shares of Common Stock to be Sold

• Eric VishriaDirectorAdoptedMay 18, 2026650,153 Close of market on the 2nd full trading day following the release of earnings for the Company’s fiscal quarter ending December 31, 2026

• Chief Executive Officer, President, and DirectorAdoptedMay 20, 20261,500,000 August 20, 2027

• Robert KominChief Financial OfficerAdoptedJune 30, 2026128,000 August 31, 2027

Text removed vs the prior filing · source: 10-Q · 2026-06-24

• During the three months ended March 31, 2026, none of our directors or officers (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934, as amended) adopted, modified, or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in I…

• On June 19, 2026, in connection with the execution of a commercial agreement with AWS, we issued a warrant (the “AWS Warrant”) to Amazon.com NV Investment Holdings LLC (“AWS Warrantholder”) to acquire up to 2,696,678 shares of our Class N common stock (the “AWS Warrant Shares”) at an exercise price …

• Upon the consummation of a change of control of Cerebras, if the AWS Warrant is vested with respect to fewer than 1,618,007 AWS Warrant Shares, then a number of additional AWS Warrant Shares will vest such that an aggregate of 1,618,007 AWS Warrant Shares are vested. Subject to certain exceptions, t…

• The AWS Warrant and the AWS Warrant Shares have not been registered under the Securities Act or under any state securities law and were offered and issued, as applicable, in reliance upon the exemption from registration requirements of the Securities Act set forth in Section 4(a)(2) of the Securitie…