What happened Shares of radio-frequency identification-solutions-provider Impinj (NASDAQ: PI) tumbled on Friday following the company's second-quarter report. While Impinj beat analyst estimates across the board, the company slashed its full-year guidance due to delays among large-end customers. The stock was down about 23.5% by 12:30 p.m. EDT. So what Impinj reported second-quarter revenue of $34.1 million, up 31% year over year and about $0.6 million above the average analyst estimate. "We continue seeing strong indicators of growing adoption of RAIN and the Impinj platform across multiple verticals, including retail, healthcare and logistics," said Impinj co-founder and CEO Chris Diorio. Image source: Getty Images. Non-GAAP earnings per share (EPS) came in at $0.06, flat year over year and $0.04 higher than analysts expected. The company expects revenue between $31.75 million and $33.25 million during the third quarter, along with a non-GAAP EPS loss between $0.01 and $0.08. Due to several large customers delaying planned rollouts of Impinj's solutions, the company was forced to cut its full-year outlook for endpoint IC shipments. Impinj now expects to ship between 7.0 billion and 7.2 billion endpoints, down from a previous range of 7.8 billion to 8 billion. Now what With Impinj now guiding for just 18% annual growth in endpoint shipments this year, the stock's sky-high valuation has taken a hit. Prior to Friday's decline, shares of Impinj traded for about 8.5 times sales and more than 200 times non-GAAP earnings. Whether these delays are a temporary problem or something more remains to be seen. Investors seem to be leaning toward the latter, punishing the stock for an unexpected guidance cut. 10 stocks we like better than ImpinjWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Impinj wasn't one of them! That's right -- they think these 10 stocks are even better buys. Click here to learn about these picks! *Stock Advisor returns as of August 1, 2017Timothy Green has no position in any stocks mentioned. The Motley Fool recommends Impinj. The Motley Fool has a disclosure policy.