The sharp decline followed the company's Q2 earnings report, which showed revenue up 51.7% year-over-year to $149.7 million and net income up 47.7% to $40.8 million. Management also raised its full-year revenue growth forecast to 35% and adjusted earnings target to $5.25 per diluted share. However, the implied Q2 revenue growth of about 31% for the second half of the year, a significant slowdown from the reported 51.7%, likely contributed to investor concerns, as the stock had climbed approximately 260% from its 52-week low prior to the report.