By late afternoon, shares had fallen 31.3% to $10.52.
In its June-ending quarter, the company expects revenue of $60 million to $65 million and net losses of 22 cents to 26 cents a share. Analysts surveyed by Thomson Reuters had forecast net income of 22 cents a share.
For the full year, Silver Spring anticipates revenue between $300 million and $330 million with net losses between 15 cents and 30 cents a share. Analysts had expected $317.3 million in sales and a net loss of 25 cents a share.