Light & Wonder Inc. (LNW) shares tumbled 5.80% in pre-market trading on Thursday, following the release of its first-quarter results that fell short of analyst expectations. The gaming technology company's disappointing performance has led to a significant sell-off, marking it as one of the top losers in the benchmark index.

According to the quarterly report, Light & Wonder posted revenue of $774 million, which missed Citi's estimates of $809 million. The company's adjusted EBITDA came in at $311 million, also falling short of Citi's projected $316 million. This underperformance in both top and bottom lines has clearly rattled investors, leading to the pre-market plunge.

Despite the negative reaction to the Q1 results, it's worth noting that Light & Wonder has reaffirmed its guidance for the full year 2025. The company maintains its target of achieving a consolidated AEBITDA of $1.4 billion for FY 2025, which may provide some reassurance to long-term investors. However, the immediate market response reflects concerns about the company's ability to meet short-term expectations in a challenging economic environment.