According to CoinMeta, Cerebras Systems ( CBRS )’s stock price fell by 17% during pre-market trading on Thursday. The company’s second-quarter financial report showed a loss of $2.98 per share, compared to a profit of $1.91 in the same period last year. The core gross margin was 40.6%, which could have been 500 basis points higher if not for the repurchase of some systems to meet the needs of its inference services. CFO Bob Komin indicates that the third quarter will be a “low point” for the core gross margin, with expectations of a significant improvement in the fourth quarter. Cerebras predicts that core revenue in the third quarter will be between $214 million and $216 million, exceeding Wall Street’s consensus forecast of around $210 million, although some analysts expect it to be as high as $220 million. The company also expects core revenue in fiscal year 2026 to be between $880 million and $890 million, with a core gross margin of 38% to 40% in the third quarter. Cerebras went public in May, aiming to compete with Nvidia and has established partnerships with Amazon and OpenAI.