Crocs shares plunged 10.13% in pre-market trading on Thursday after the company reported second-quarter revenue that fell short of analysts’ expectations, overshadowing a profit beat and an improved full-year forecast.

The footwear maker posted revenue of $1,000 million for the quarter, well below the IBES estimate of $1,148 million. On the earnings side, adjusted EPS came in at $4.55, surpassing the $4.34 consensus, and the company also reported a record quarterly performance and raised its full-year 2026 outlook.

Despite the positive earnings news and a 60% adjusted gross margin, the significant revenue miss appears to be the primary driver of the pre-market selloff, as investors reacted to the top-line shortfall relative to Wall Street’s projections.