On Tuesday, Netflix reported that it had lost over 200,000 subscribers, during Q1 this year. The last time Netflix lost this many subscriber was in October 2011, almost a decade ago. Consequently, Netflix shares plummeted by almost 25% in extended hours.

The streaming website warned that there may still be trouble ahead. Stocks of streaming websites Roku, Spotify, and Disney also cratered in the after-hours market after the update.

The company forecasted a plunge of 2 million global paid subscribers for Q2.

Netflix exclaimed that the shutting down of its services in Russia and canceling the subscription of its Russian paid members resulted in a loss of 700,000 subscribers. If that had not occurred, Netflix notes that it would have seen a net addition of 500,000 during the quarter.

The company also highlighted that the increasing competition from other streaming platforms, password sharing, and many other factors had also contributed to the loss in paid memberships.