Cloud-based communication software maker Twilio forecast a larger-than-expected adjusted loss for the full year, sending its shares down 30% in after-market trading.
The company forecast adjusted full-year loss of 27 cents-30 cents, well below analysts' average estimate of a loss of 16 cents, according to Thomson Reuters I/B/E/S.
Twilio also said it was seeing some changes in its relationship with its largest customer, CEO Jeff Lawson said in a statement on Tuesday.
San Francisco-based Twilio's customers include WhatsApp, which accounted for about 9% of the company's revenue in 2016 and 17% in 2015.
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Revenue jumped 47.2% to $87.4 million in the first quarter.
Net loss attributable to stockholders increased to $14.2 million from $6.5 million.
On a per share basis, that translated to a loss of 16 cents, compared with a loss of 37 cents a year-earlier, due to a higher share count.
Excluding items, the company reported a loss of 4 cents per share. Analysts on average had estimated a loss of 6 cents per share.
The company's shares (twlo) were down 29.6% at $23.9 in after-market trading. Through Tuesday's close, the stock had gained about 18% this year.