Cerebras Systems (CBRS) stock experienced an after-hours plunge of 5.12% on Tuesday, following the release of its first quarterly earnings report since its initial public offering.

The AI chipmaker reported its Q1 fiscal 2026 results, showing revenue more than doubled year-over-year to $193.4 million and a narrowed net loss of $14 million. Despite the strong top-line growth, shares fell in extended trading as investors digested the company's financial performance and forward guidance.

The company also provided its outlook, forecasting Q2 core revenue of approximately $194 million and full-year core revenue in the range of $855 million to $865 million. Market reaction to the earnings release and guidance appears to have driven the after-hours selloff.