Klaviyo, Inc. (KVYO) experienced a significant pre-market plunge of 16.42% on Wednesday, extending losses from the previous after-hours session.

The sharp decline followed the company's announcement that Chief Financial Officer Amanda Whalen will step down from her role, creating leadership uncertainty. Additionally, Klaviyo issued a second-quarter adjusted operating income forecast of $47.5 million to $50.5 million, which fell below analyst expectations of $52 million.

These negative developments overshadowed the company's strong first-quarter performance, where Klaviyo reported adjusted earnings of $0.22 per share on revenue of $358 million, beating consensus estimates on both metrics. The company also raised its full-year revenue guidance, but investors focused on the near-term headwinds posed by the CFO transition and softer profit outlook.