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CPI Card Group Inc (PMTS) delivers innovative payment card solutions through secure production and mobile technologies for global financial institutions. This news hub provides investors and industry professionals with essential updates on corporate developments, technological advancements, and market positioning.
Access timely press releases and analysis covering earnings reports, product launches, strategic partnerships, and operational milestones. Our curated collection ensures transparent tracking of CPI Card Group's role in advancing secure financial transactions across debit, credit, and prepaid card markets.
Key updates on card personalization technologies, security certifications, and international expansion efforts. Discover how CPI maintains its leadership through North America's largest network of high-security production facilities while adapting to evolving digital payment trends.
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CPI Card Group (PMTS) reported strong Q4 2024 results with net sales up 22% to $125.1 million and net income surging 148% to $6.8 million. Adjusted EBITDA increased 10% to $21.9 million.
For full year 2024, net sales grew 8% to $480.6 million, though net income decreased 19% to $19.5 million due to debt refinancing costs. The Prepaid Debit segment showed exceptional performance, reaching $106.5 million in sales, up 26% year-over-year.
Key developments include:
- Issued $285 million of 10% Senior Secured Notes due 2029
- Executed $9 million in share repurchases
- Completed secondary offering reducing majority stockholder ownership from 56% to 43%
- Delivered over 350 million eco-focused payment solutions since launch
The company projects mid-to-high single-digit net sales and Adjusted EBITDA growth for 2025, driven by expansion in core markets and digital offerings.
CPI Card Group (Nasdaq: PMTS), a payments technology company specializing in payment cards and digital solutions, has scheduled its fourth quarter and full year 2024 earnings release for March 4, 2025, before market opening. The company will host a webcast and conference call at 9:00 a.m. ET on the same day.
President and CEO John Lowe and CFO Jeff Hochstadt will lead the conference call. The earnings release will be accompanied by a slide presentation, available on the company's investor website. A replay of the conference call will be accessible until March 18, 2025, through various channels including telephone and webcast.
CPI Card Group reported strong Q3 2024 results with net sales increasing 18% to $124.8 million. The company saw growth across its portfolio, particularly in Debit and Credit segment (+19%) and Prepaid segment (+13%). However, net income decreased 66% to $1.3 million due to $8.8 million in debt refinancing costs. Adjusted EBITDA rose 18% to $25.1 million.
The company updated its 2024 outlook, projecting mid-to-high single-digit net sales growth and low single-digit Adjusted EBITDA growth. CPI completed a debt refinancing, issuing $285 million of 10% Senior Secured Notes due 2029 and establishing a new $75 million ABL revolving credit facility.
CPI Card Group (PMTS) reported strong Q3 2024 results with net sales increasing 18% to $124.8 million, driven by growth in both Debit and Credit (19%) and Prepaid (13%) segments. While net income decreased 66% to $1.3 million due to debt refinancing costs, Adjusted EBITDA rose 18% to $25.1 million.
The company updated its 2024 outlook, projecting mid-to-high single-digit net sales growth and low single-digit Adjusted EBITDA growth. Notable achievements include selling over 100 million eco-focused cards and maintaining leadership in SaaS-based instant issuance solutions with 16,000+ Card@Once® installations.
CPI Card Group (Nasdaq: PMTS), a payments technology company providing credit, debit, and prepaid card solutions, will release its third quarter 2024 financial results before market opens on November 5, 2024. The company will host a webcast and conference call at 9:00 a.m. ET the same day, featuring President and CEO John Lowe and CFO Jeff Hochstadt. A slide presentation and earnings press release will be available on the company's investor website. The conference call replay will be accessible until November 19, 2024.
CPI Card Group Inc. (Nasdaq: PMTS) is set to deploy a revolutionary new chip technology in payment cards. The company has begun manufacturing sample cards featuring Infineon's SECORA Pay Green, an All-in-One technology with an integrated chip and antenna. This advancement allows for expanded card design options and reduced environmental impacts.
Key features of the new technology include:
- Flexibility in card shape, colored core, and clear cards
- Compatibility with eco-focused materials
- Decreased carbon footprint due to elimination of separate inlay
- Expansion of CPI's eco-focused portfolio, including Second Wave® and Earthwise® cards
CPI is now accepting orders for pilot programs and will showcase card samples at the Money 20/20 fintech trade show in Las Vegas from Oct. 27-30.
CPI Card Group Inc. (Nasdaq: PMTS), a payments technology company, announced the pricing of a secondary public offering of 1,200,000 shares of common stock by certain stockholders affiliated with Parallel49 Equity. The offering is priced at $21.00 per share, with expected gross proceeds of approximately $25.2 million for the selling stockholders. Underwriters have a 30-day option to purchase up to an additional 180,000 shares. The offering is expected to close around October 2, 2024.
CPI Card Group is not offering any shares and will not receive any proceeds from the sale. D.A. Davidson & Co. is acting as the sole manager for the offering. A registration statement on Form S-3 has been filed with and declared effective by the SEC. The company will file a final prospectus supplement and accompanying prospectus for the offering.
CPI Card Group Inc. (Nasdaq: PMTS), a payments technology company, announced that certain stockholders affiliated with Parallel49 Equity have initiated a secondary public offering of 1,000,000 shares of the Company's common stock. The selling stockholders may grant underwriters a 30-day option for an additional 150,000 shares. CPI will not receive any proceeds from the sale, as all proceeds go to the selling stockholders. D.A. Davidson & Co. is the sole book-running manager for the offering.
The offering is subject to market conditions, with no guarantee of completion or final terms. A registration statement on Form S-3 has been filed and declared effective by the SEC. The Company has also filed a preliminary prospectus supplement and accompanying prospectus for the offering.
CPI Card Group Inc. (Nasdaq: PMTS) has announced a strategic partnership with Rippleshot to enhance fraud protection for its customers. Rippleshot's AI-based platform leverages machine learning and predictive analytics to detect and prevent credit and debit card fraud. The collaboration aims to help financial institutions proactively prevent fraudulent events, reduce costs associated with fraud loss, and improve cardholder satisfaction.
Key benefits of Rippleshot's platform include:
- Up to 35% decrease in fraud activity per year
- 10 times more compromised incidents identified than average network alerts
- 5 times less disruption to customers' transactions
- Ability to block high-risk merchants and mitigate data breach impacts
This partnership complements CPI's expanding suite of innovative solutions, including digital card and push provisioning services.
CPI Card Group and Cypris Materials have been awarded the Sustainability Initiative of the Year by the Business Intelligence Group (BIG) for their innovative use of CYPRIS structural color ink in card printing. This eco-friendly ink, made with 50% plant-based copolymers, offers more vibrant colors while reducing CO2 emissions by 30-60% compared to traditional inks.
The technology, inspired by nature's vibrant colors, uses Nobel Prize-winning principles to create non-toxic, durable alternatives to traditional pigments and dyes. CPI Card Group (Nasdaq: PMTS) plans to offer this sustainable option for payment card products, setting a new standard in eco-friendly card printing.
This recognition highlights the growing importance of sustainability in business practices and positions CPI Card Group among industry leaders in environmental responsibility and innovation.
