Cerebras Systems Inc. (NASDAQ:CBRS) posted its first-quarter results after Tuesday’s closing bell, with shares falling 7.37% to $210 in Tuesday’s extended trading despite beats on both the top and bottom lines. Cerebras reported quarterly losses of four cents per share, beating the analyst estimate for a loss of 16 cents, and quarterly revenue of $193.41 million, which beat the Street estimate of $181.59 million by 6.5%. Core (Non-GAAP) first-quarter figures included core total revenue of $191.3 million, up 12% sequentially and up 92% year-over-year; core hardware revenue of $111.6 million, up 60% year-over-year; and core cloud and other services revenue of $79.8 million, up 167% year-over-year. Core gross margin was 47%, with core hardware gross margins of 42% and core cloud and other services gross margins of 53%. CEO Andrew Feldman stated, "This was an outstanding start to 2026 for Cerebras." Looking ahead, Cerebras expects fiscal year core revenue of $855 million to $865 million, up 69% year-over-year at the midpoint, and core gross margin in the range of 38% to 41%.