Shopify Inc. (SHOP) shares plummeted 9.92% in pre-market trading on Tuesday, following the release of its fourth-quarter earnings report. The e-commerce company's adjusted net income for the quarter fell short of analysts' expectations, raising concerns among investors.

According to the earnings flash, Shopify reported an adjusted net income of $458 million for the fourth quarter, missing the FactSet estimate of $543 million. This disappointing financial performance is likely the primary driver behind the significant pre-market sell-off in Shopify's stock.

The miss in adjusted net income figures suggests that Shopify's revenue growth or profitability may have fallen short of expectations, potentially due to challenges in its core e-commerce business or higher-than-expected operational costs. Investors will closely scrutinize the company's upcoming full earnings report for more details on the factors contributing to the weaker-than-anticipated results.