Cerebras Systems (NASDAQ: CBRS) shares fell about 14% in after-hours trading following its second quarterly report as a public company on 12 August (US time). Revenue of US$180.1 million missed the roughly US$194 million analysts expected and fell about 7% from the previous quarter, though it was up 74% on the prior year. The adjusted loss of US$2.98 was far wider than the US$0.18 expected. The stock had previously cooled from a US$350 peak to the mid US$240s, down around 27% from its IPO open debut, after trading at a price-to-sales ratio near 291x. The company, which builds wafer-scale computer chips, has a US$25.4 billion backlog and a multi-year OpenAI deal for 750 megawatts of computing capacity valued at more than US$20 billion, plus partnerships with Amazon Web Services, CrowdStrike and AMD. Q3 guidance was above consensus. The article describes the company as a fast-growing one having a "messy adolescence" rather than a broken one, noting that lumpy hardware sales tied to a few giant customers guarantee bumpy quarters.