CPI Card Group Q1 sales up 25% to $111.4M, net income up 149%; raises 2022 outlook

CPI Card Group Inc.

2022-Q1 EPS reported $0.51 revenue$111,424,000

Net sales $111.4M (+25% YoY); net income $6.0M (+149%), diluted EPS $0.51.
Debit & Credit segment sales +32% to $92M; Prepaid Debit flat at $19.5M.
Adjusted EBITDA $22.5M (+2%); gross margin 35.3% vs 40.1% last year.
Raises 2022 outlook: low double-digit sales growth, mid-to-high single-digit Adj. EBITDA growth.
Redeemed $20M of 8.625% senior secured notes; Net Leverage Ratio ~4x.

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