Welcome to our dedicated page for CPI Card Group news (Ticker: PMTS), a resource for investors and traders seeking the latest updates and insights on CPI Card Group stock.
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 has achieved a significant milestone by selling over 90 million eco-focused payment cards as of the end of 2022. This success underscores the increasing demand from financial institutions and fintechs for sustainable card solutions. The company, which focuses on using upcycled and ocean-bound plastics, has noted a strong shift towards environmentally friendly products among consumers.
In collaboration with major players like Payactiv, CPI aims to support sustainability goals in the financial sector. A recent survey revealed that 79% of respondents would consider switching to a card made from recovered plastics. CPI's commitment to sustainability is further demonstrated through its involvement in the Greener Payment Partnership.
CPI Card Group Inc. (PMTS) reported strong financial results for both Q4 and full-year 2022, with net sales up 27% to $475.7 million and net income soaring 129% to $36.5 million. The fourth quarter showed even more significant growth, with sales increasing 36% to $126.4 million and net income climbing 1,754% to $12.5 million. Adjusted EBITDA rose 28% to $97.7 million for the year and 100% to $27.2 million for Q4. Looking ahead, CPI anticipates mid-single-digit net sales growth in 2023, fueled by continued demand for contactless and eco-focused cards. However, the CFO announced his resignation planned for 2023.
CPI Card Group Inc. (NASDAQ: PMTS) will host a webcast and conference call on March 8, 2023, at 9:00 a.m. ET to discuss its fourth quarter and full year 2022 financial results. The financial results will be released before the markets open on the same day. Participating executives include CEO Scott Scheirman and CFO Amintore Schenkel. A slide presentation will accompany the call, available on the CPI investor website. Replays of the conference will be available until March 22, 2023. CPI Card Group specializes in credit, debit, and prepaid solutions, aiming to exceed customer expectations in the payment industry.
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