Peloton Interactive, Inc. (PTON) shares plummeted 24.87% during intraday trading on Thursday, following the release of its fiscal second-quarter financial results that disappointed investors.

The connected-fitness company reported a quarterly loss of $0.09 per share, which was wider than the analyst consensus estimate of a $0.05 loss. Revenue for the quarter totaled $656.5 million, falling short of Wall Street's expectations of approximately $675.6 million and representing a 3% decline year-over-year. A key concern for investors was the continued erosion of the company's subscriber base, with paid connected fitness subscriptions dropping 7% to 2.661 million.

Further weighing on sentiment was the company's announcement that Chief Financial Officer Liz Coddington will be leaving in March to join solar energy company Palmetto, adding to leadership uncertainty. Peloton also issued third-quarter revenue guidance between $605 million and $625 million, which is below analyst estimates, signaling ongoing challenges in reversing its business trends.