Klaviyo, Inc. (KVYO) experienced a significant intraday plummet of 33.26% on Wednesday, extending losses from earlier trading sessions.

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. Investors focused on the near-term headwinds posed by the CFO transition and softer profit outlook, triggering heavy selling pressure.