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CPI Card Group Inc. (symbol: PMTS) is a leading payment technology company that specializes in providing comprehensive financial payment card solutions and services. With a strong focus on quality and customer service, CPI Card Group has built a solid reputation in the market. The company offers a wide range of products including credit, debit, and prepaid cards, catering to the needs of card-issuing banks and prepaid debit card program managers in the United States.
CPI Card Group operates through two main business segments:
- Debit and Credit: This segment produces financial payment cards and provides integrated card services, making it a significant revenue contributor.
- Prepaid Debit: This segment offers integrated card services to prepaid debit card program managers in the United States.
With over 20 years of experience in the payments market, CPI Card Group continues to grow, achieving a card production volume exceeding 1.3 billion annually. The company serves its customers from nine locations across the United States, Canada, and the United Kingdom, boasting the largest network of certified high-security facilities in North America.
CPI Card Group is committed to innovation, offering cutting-edge mobile technologies and fulfillment services. Recent achievements include advancements in card personalization and the expansion of its high-security facilities to meet increasing demand.
For investors and stakeholders looking for the latest updates and relevant information about the company's performance, events, and developments, CPI Card Group remains a trusted and reliable entity in the financial payment card industry.
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.
CPI Card Group reported Q2 2024 results with a 3% increase in net sales to $119 million, driven by growth in Prepaid, instant issuance, and card personalization services. However, net income decreased 8% to $6 million and Adjusted EBITDA fell 6% to $22 million. Gross profit saw a slight increase to $42 million. For the first half of 2024, net sales were down 2% year-over-year.
The company updated its 2024 outlook, expecting mid-single digit growth in net sales and maintaining Adjusted EBITDA projections. A recent debt refinancing includes $285 million in Senior Secured Notes due 2029 and a new $75 million revolving credit facility.
CPI continues to lead in eco-focused card solutions with over 100 million cards sold since 2019 and significant installations of its instant issuance solutions. The company repurchased $9 million worth of shares and aims to maintain liquidity, invest in business growth, and deleverage its balance sheet.
CPI Card Group Inc. (Nasdaq: PMTS), a payments technology company, has announced its plans to release second quarter financial results on August 5, 2024, after market close. The company will host a webcast and conference call at 4:30 p.m. ET on the same day to discuss the results. President and CEO John Lowe and CFO Jeff Hochstadt will participate in the call.
Additionally, CPI Card Group will be participating in the KeyBanc Technology Leadership Forum in Vail on August 6, 2024. John Lowe, Jeff Hochstadt, and SVP of Investor Relations Mike Salop are scheduled to host investor meetings during the event.
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