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% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 475.74 | 444.55 | 480.60 | 543.53 |
| Operating Revenue | - | 475.74 | 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 | 115.26 |
| Selling General And Administration | - | 90.78 | 88.26 | 108.43 | 115.26 |
| Total Expenses | - | 396.62 | 382.96 | 417.81 | 488.69 |
| Operating Income | - | 79.13 | 61.59 | 62.79 | 54.84 |
| Total Operating Income As Reported | - | 79.13 | 61.59 | 62.79 | 54.84 |
| EBITDA | - | 93.65 | 77.52 | 79.21 | 77.30 |
| Normalized EBITDA | - | 93.65 | 77.76 | 82.20 | 77.59 |
| EBIT | - | 78.76 | 61.59 | 62.79 | 54.84 |
| Interest Expense | 30.61 | 29.62 | 26.91 | - | - |
| Net Interest Income | - | -29.62 | -26.91 | -34.09 | -32.47 |
| Other Non Operating Income Expenses | - | -0.37 | 0.03 | -0.69 | -0.35 |
| Other Income Expense | - | -0.37 | -0.22 | -3.68 | -0.64 |
| Interest Expense Non Operating | 30.61 | 29.62 | 26.91 | - | - |
| Net Non Operating Interest Income Expense | - | -29.62 | -26.91 | -34.09 | -32.47 |
| Pretax Income | - | 49.15 | 34.46 | 25.03 | 21.74 |
| Tax Provision | - | 12.61 | 10.48 | 5.51 | 6.66 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | -0.07 | -0.66 | -0.09 |
| Net Income Continuous Operations | - | 36.54 | 23.98 | 19.52 | 14.95 |
| Net Income From Continuing And Discontinued Operation | - | 36.54 | 23.98 | 19.52 | 14.95 |
| Net Income From Continuing Operation Net Minority Interest | - | 36.54 | 23.98 | 19.52 | 14.95 |
| Net Income | - | 36.54 | 23.98 | 19.52 | 14.95 |
| Net Income Common Stockholders | - | 36.54 | 23.98 | 19.52 | 14.95 |
| Net Income Including Noncontrolling Interests | - | 36.54 | 23.98 | 19.52 | 14.95 |
| Normalized Income | - | 36.54 | 24.15 | 21.85 | 15.15 |
| Diluted NI Availto Com Stockholders | - | 36.54 | 23.98 | 19.52 | 14.95 |
| Basic Average Shares | - | 11.29 | 11.43 | 11.15 | 11.33 |
| Diluted Average Shares | - | 11.75 | 11.92 | 11.88 | 11.92 |
| Reconciled Depreciation | - | 14.89 | 15.93 | 16.42 | 22.46 |
| Reconciled Cost Of Revenue | - | 290.95 | 278.77 | 309.38 | 373.44 |
| 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 Discontinuous Operations | 0 | - | - | - | - |
| Earnings From Equity Interest Net Of Tax | - | - | - | 0 | -0.13 |
| Special Income Charges | - | -0.47 | -0.24 | -2.99 | -0.29 |
| Other Special Charges | - | 0.47 | 0.24 | 2.99 | 0.29 |
| Depreciation Amortization Depletion Income Statement | 6.26 | 5.86 | 5.64 | 5.03 | - |
| Depreciation And Amortization In Income Statement | 6.26 | 5.86 | 5.64 | 5.03 | - |
| Total Other Finance Cost | - | 29.62 | 26.91 | 34.09 | 32.47 |
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 | $203M | 13.59β premium | -11.73 | -86.3% | 6.22 |
| First Internet Bancorp | INBK | $211M | -6.01 | 0.59 | -9.8% | - |
| First Capital, Inc. | FCAP | $210M | 12.81 | 1.52 | 11.9% | - |
| OP Bancorp | OPBK | $209M | 8.16 | 0.92 | 11.2% | - |
| Consumer Portfolio Services, Inc. | CPSS | $200M |
| - |
| - |
| - |
| - |
| - |
| 10.37 |
| 0.65 |
| 6.2% |
| - |
| Citizens Community Bancorp, Inc. | CZWI | $198M | 13.74 | 1.05 | 7.7% | - |
| FinWise Bancorp | FINW | $198M | 12.28 | 1.02 | 8.3% | - |
| BCB Bancorp, Inc. | BCBP | $197M | -15.70 | 0.65 | -4.1% | - |
| CF Bankshares Inc. | CFBK | $187M | 10.68 | 1.02 | 9.5% | - |
| Peer Median | - | 10.53 | 0.97 | 8.0% | - | |