EverCommerce Inc. (EVCM) experienced a dramatic 24-hour plunge of 32.06% in post-market trading. The sharp decline followed the release of the company's quarterly results and forward-looking guidance.

The company issued second-quarter revenue guidance of $150.5 million to $153.5 million, which fell short of the IBES estimate of $154.8 million. Furthermore, its Q2 adjusted EBITDA forecast of $41 million to $43 million missed the analyst expectation of $46.5 million. This guidance disappointment appears to be the primary driver behind the severe sell-off.

Adding to the negative sentiment, regulatory filings revealed that CEO Eric Remer sold 19,200 shares over two days prior to the announcement. Although the sales were executed under a pre-arranged Rule 10b5-1 trading plan, the transaction may have contributed to investor concerns.