OppFi shares slipped after the company cut its full-year outlook on lower-than-expected second-quarter results.

The stock shed 20% to $7 in premarket trading Tuesday. Through the prior close, shares were down 16% this year.

The fintech lender now expects $600 million to $625 million in annual sales, down from its previous guidance of $650 million to $675 million.

It lowered its guidance for adjusted earnings per share to $1.34 to $1.51, from $1.76 to $1.84.

In the second quarter, revenue fell 1.9% to $145.2 million, missing analysts' projection of $155.9 million.

Adjusted earnings per share were 33 cents, also below Wall Street estimates of 45 cents, according to FactSet.

Total net originations fell about 9%, while total retained net originations dropped 14%.