CPI Card Group Inc.

Listed Company

PMTSCIK 0001641614NasdaqAcceleratedSmaller ReportingCommercial PrintingDelawareFY ends Dec 31

Period

FY 2025

Revenue

$543.53M

Net Income

$14.95M

Total Assets

$403.19M

Equity

$-17.33M

Shares Out

11.46M

Op. Cash Flow

$59.50M

Business

CPI Card Group Inc. is a payments technology company that produces and personalizes secure payment cards and delivers related digital issuance solutions. It offers contact and contactless debit and credit cards, Prepaid Debit Cards, eco-focused and metal card options, card data personalization, fulfillment services, and a SaaS-based instant issuance platform (Card@Once®) plus digital push provisioning. The company reports its business across Debit and Credit, Prepaid Debit, and Other (corporate) segments. It primarily serves the U.S. market through direct sales, resellers, retail channels, and postal and secure freight distribution.

Summary from filing dated 2025-03-04

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	544	481	445	476	375
Cost of goods sold	373	309	289	300	234
Gross profit	170	171	155	176	141
Selling, general and administrative expenses	115	108	94	97	82
Income from operations	55	63	62	79	59
Interest, net	−32	−34	−27	−30	−31
Loss on debt extinguishment	−287,000	−3	−243,000	−474,000	−5
Other expense, net	−348,000	−691,000	28,000	−367,000	14,000
Total other expense, net	−33	−38	−27	−30	−36
Income before income taxes and equity in losses of unconsolidated affiliates	22	25	—	—	—
Income tax expense	−7	−6	−10	−13	−8
Equity in losses of unconsolidated affiliates	−134,000	—	—	—	—
Net income	15	20	24	37	16
Basic earnings per share (in dollars per share)	1.32	1.75	2.1	3.24	1.42
Diluted earnings per share (in dollars per share)	1.25	1.64	2.01	3.11	1.36
Basic weighted-average shares outstanding (in shares)	11	11	11	11	11
Diluted weighted-average shares outstanding (in shares)	12	12	12	12	12
Total comprehensive income	15	20	24	37	16

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	22	34	12	11	21
Accounts receivable, net	95	85	74	81	61
Inventories, net	72	73	71	68	58
Prepaid expenses and other current assets	16	11	9	8	6
Total current assets	205	203	165	168	146
Plant, equipment, leasehold improvements and operating lease right-of-use assets, net	108	69	63	57	—
Intangible assets, net	19	10	14	18	22
Goodwill	49	47	47	47	47
Other assets	23	20	4	7	6
Total assets	403	350	294	297	268
Accounts payable	28	16	13	24	26
Accrued expenses	52	58	36	40	37
Deferred revenue and customer deposits	4	1	840,000	4	1
Total current liabilities	84	76	49	68	65
Long-term debt	287	280	265	286	304
Deferred income taxes	2	3	7	7	5
Other long-term liabilities	48	26	24	18	16
Total liabilities	421	385	346	379	389
Commitments and contingencies (Note 14)	—	—	—	—	—
Series A Preferred Stock; $0.001 par value-100,000 shares authorized; 0 shares issued and outstanding at December 31, 2025 and 2024	—	—	—	—	—
Common stock; $0.001 par value-100,000,000 shares authorized; 11,456,061 and 11,240,507 shares issued and outstanding at December 31, 2025 and 2024, respectively	11,000	11,000	11,000	11,000	11,000
Capital deficit	−102	−105	−102	−108	−111
Accumulated earnings	85	70	50	26	−10
Total stockholders' deficit	−17	−36	−52	−82	−121
Total liabilities and stockholders' deficit	403	350	294	297	268

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	15	20	24	37	16
Depreciation expense	18	13	12	11	—
Amortization expense	4	4	4	4	—
Stock-based compensation expense	7	9	8	3	1
Amortization of debt issuance costs	1	2	2	2	2
Loss on early extinguishment of debt	887,000	9	243,000	—	—
Deferred income taxes and other, net	6	−4	−324,000	—	—
Accounts receivable, net	−686,000	−12	7	−20	−6
Inventories	4	−2	−2	−11	−33
Prepaid expenses and other assets	10	−20	2	−3	−4
Income taxes, net	−3	985,000	−1	362,000	10
Accounts payable	8	3	−11	−453,000	7
Accrued expenses and other liabilities	−12	22	−8	2	10
Deferred revenue and customer deposits	2	645,000	−3	2	−690,000
Cash provided by operating activities	60	43	34	31	20
Capital expenditures for plant, equipment and leasehold improvements, net	−18	−9	−6	−18	−10
Cash paid for acquisition, net of cash acquired	−44	—	—	—	—
Cash paid for purchase of equity method investment	−3	—	—	—	—
Other	63,000	36,000	183,000	95,000	156,000
Cash used in investing activities	−65	−9	−6	−18	−10
Proceeds from borrowings on debt	67	285	—	—	—
Payments on debt	−62	−268	—	—	—
Payments on finance lease obligations	−8	−5	−4	−3	−2
Common stock repurchased	—	−9	−250,000	—	—
Debt issuance costs	−264,000	−7	—	−262,000	−9
Payment for debt early redemption premium	−600,000	−6	−368,000	−2	−3
Taxes withheld and paid on stock-based compensation awards	−2	−4	−368,000	—	—
Cash used in financing activities	−6	−13	−26	−23	−47
Net (decrease) increase in cash and cash equivalents	−12	21	1	−10	−37
Interest paid	32	26	26	28	22
Right-of-use assets obtained in exchange for lease obligations- Operating leases	12	1	3	816,000	7
Right-of-use assets obtained in exchange for lease obligations- Financing leases	16	10	11	9	2
Accounts payable and accrued expenses for capital expenditures for plant, equipment and leasehold improvements	2	662,000	102,000	462,000	3
Non-cash equity method investment	8	—	—	—	—
Non-cash equity in losses of unconsolidated affiliates	−134,000	—	—	—	—

Filings

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