A banner for Snap Inc. hangs on the facade of the the New York Stock Exchange on the eve of the company's IPO in New York.

Snap chief financial officer Tim Stone is resigning to pursue other opportunities, the company said in a new filing Tuesday that sent the stock tumbling more than 8 percent after hours. Stone's reign lasted less than a year: he joined from Amazon in May 2018, with an annual salary of $500,000 and restricted stock units worth $20 million, set to vest over four years.

Stone's appointment signaled a potential sea change at the beleaguered social media company, and several months after he joined, Wedbush Securities analyst Michael Pachter cited his hire as one of the factors demonstrating Snap's "increased focus on shareholder value."

Snap's new filing also said that the company would post results that are "slightly favorable" to the top end of its previous guidance when it reports its Q4 earnings on February 5. In its Q3 outlook it expected Q4 revenue between $355 million and $380 million, and adjusted losses between $100 million and $75 million. The company also warned investors that its namesake photo-sharing app, Snapchat, would continue to shed daily active users.

Stone's departure follows a string of other top-level exits in the past year, including chief strategy officer Imran Khan and vice president of communications Mary Ritti in September, and previous finance head Andrew Vollero and vice president of monetization engineering Stuart Bowers in May.

Here's the text from the filing: