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CPI Card Group Inc., together with its subsidiaries, provides physical and digital payment solutions for financial institutions, processors, fintechs, prepaid program managers, and other organizations in the United States. It operates through Debit and Credit, and Prepaid Debit segments. The Debit and Credit segment produces secure debit and credit cards, such as contact, contactless, eco-focused, and magnetic stripe cards; and provides card services, including digital services. This segment also provides personalization services, which include instant issuance solutions that provide customers with the ability to issue an instant personalized debit or credit card on-demand; and other payment solutions, such as digital push provisioning for mobile wallets. The Prepaid Debit segment primarily provides integrated card services comprising tamper-evident security packaging services. It also produces payment cards issued on the networks of the payment card brands. The company offers card data personalization and fulfillment services, SaaS -based instant card issuance and other digital solutions, an integrated end-to-end on-demand payment card solution, and Card@Once, a proprietary and patented SaaS -based instant card issuance system. It serves issuers of debit and credit cards, prepaid program managers, financial institution platform providers and card processor organizations, fintechs, small to mid-sized financial institutions, healthcare providers, entertainment venues, government disbursements, transit services, and others through sales representatives, customer relationships, and partners. The company was formerly known as CPI Holdings I, Inc. and changed its name to CPI Card Group Inc. in August 2015. CPI Card Group Inc. was incorporated in 2007 and is headquartered in Littleton, Colorado.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $544M | $77M | $15M | $41M | -86.3% | 13.1% | -23.4% |
| 2024 | $481M | $79M | $20M | $34M | -54.8% | 8.1% | -18.6% |
| 2023 | $445M | $78M | $24M | $28M | -46.2% | -6.6% | -34.4% |
| 2022 | $476M | $94M | $37M | $13M | -44.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 475.75 | 444.55 | 480.60 | 543.53 |
| Cost Of Revenue | 299.98 | 289.06 | 309.38 | 373.44 |
| Gross Profit | 175.77 | 155.49 | 171.22 | 170.10 |
| Operating Expense | 96.64 | 93.90 | 108.43 | 115.25 |
| Operating Income | 79.13 | 61.59 | 62.79 | 54.84 |
| EBITDA | 93.65 | 77.52 | 79.21 | 77.30 |
| EBIT | 78.76 | 61.59 | 62.79 | 54.84 |
| Pretax Income | 49.15 | 34.46 | 25.03 | 21.74 |
| Tax Provision | 12.61 | 10.48 | 5.51 | 6.66 |
| Net Income | 36.54 | 23.98 | 19.52 | 14.95 |
| Net Income Common Stockholders | 36.54 | 23.98 | 19.52 | 14.95 |
| Total Expenses | 396.62 | 382.96 | 417.81 | 488.69 |
| Interest Expense | 29.62 | 26.91 | 0 | 0 |
| Selling General And Administration | 90.78 | 88.25 | 108.43 | 115.25 |
| Normalized EBITDA | 93.65 | 77.76 | 82.20 | 77.59 |
| Normalized Income | 36.54 | 24.15 | 21.85 | 15.15 |
| Basic EPS | 3.24 | 2.10 | 1.75 | 1.32 |
| Diluted EPS | 3.11 | 2.01 | 1.64 | 1.25 |
| Tax Effect Of Unusual Items | 0 | -0.07 | -0.66 | -0.09 |
| Tax Rate For Calcs | 0.26 | 0.30 | 0.22 | 0.31 |
| Total Unusual Items | -0.47 | -0.24 | -2.99 | -0.29 |
| Total Unusual Items Excluding Goodwill | -0.47 | -0.24 | -2.99 | -0.29 |
| Net Income From Continuing Operation Net Minority Interest | 36.54 | 23.98 | 19.52 | 14.95 |
| Reconciled Depreciation | 14.89 | 15.93 | 16.42 | 22.46 |
| Reconciled Cost Of Revenue | 290.95 | 278.77 | 309.38 | 373.44 |
| Net Interest Income | -29.62 | -26.91 | -34.09 | -32.47 |
| Net Income From Continuing And Discontinued Operation | 36.54 | 23.98 | 19.52 | 14.95 |
| Total Operating Income As Reported | 79.13 | 61.59 | 62.79 | 54.84 |
| Diluted Average Shares | 11.75 | 11.92 | 11.88 | 11.92 |
| Basic Average Shares | 11.29 | 11.43 | 11.15 | 11.33 |
| Diluted NI Availto Com Stockholders | 36.54 | 23.98 | 19.52 | 14.95 |
| Net Income Including Noncontrolling Interests | 36.54 | 23.98 | 19.52 | 14.95 |
| Net Income Discontinuous Operations | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | 36.54 | 23.98 | 19.52 | 14.95 |
| Earnings From Equity Interest Net Of Tax | 0 | 0 | 0 | -0.13 |
| Other Income Expense | -0.37 | -0.21 | -3.68 | -0.64 |
| Other Non Operating Income Expenses | -0.37 | 0.03 | -0.69 | -0.35 |
| Special Income Charges | -0.47 | -0.24 | -2.99 | -0.29 |
| Other Special Charges | 0.47 | 0.24 | 2.99 | 0.29 |
| Net Non Operating Interest Income Expense | -29.62 | -26.91 | -34.09 | -32.47 |
| Total Other Finance Cost | 29.62 | 26.91 | 34.09 | 32.47 |
| Interest Expense Non Operating | 29.62 | 26.91 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | 5.86 | 5.64 | 5.03 | 0 |
| Depreciation And Amortization In Income Statement | 5.86 | 5.64 | 5.03 | 0 |
| Operating Revenue | 475.75 | 444.55 | 480.60 | 543.53 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| CPI Card Group Inc.this co. | PMTS | $194M | 13.55 | -11.20 | -86.3% | 6.60 |
| Eagle Financial Services, Inc. | EFSI | $205M | 9.95 | 1.06 | 4.3% | - |
| Citizens Community Bancorp, Inc. | CZWI | $201M | 13.61 | 1.65 | 7.7% | - |
| Octave Specialty Group, Inc. | OSG | $199M | - | 0.28 | -24.1% | -35.44 |
| Consumer Portfolio Services, Inc. | CPSS |
| $198M |
| 11.40 |
| 0.64 |
| 6.2% |
| - |
| First Internet Bancorp | INBK | $197M | - | 0.55 | -9.8% | - |
| FB Bancorp, Inc. | FBLA | $193M | 63.86 | 0.74 | 0.4% | - |
| CF Bankshares Inc. | CFBK | $191M | 10.90 | 1.02 | 9.5% | - |
| CB Financial Services, Inc. | CBFV | $182M | 27.60 | 1.15 | 3.1% | - |
| Peer Median | - | 12.51 | 0.88 | 3.7% | -35.44 | |