CPI Card Group Q3 net sales up 25% to $124.6M; raises 2022 outlook

CPI Card Group Inc.

2022-Q3 EPS reported $2.05 revenue$349,309,000

Net income up 80% to $11.9M ($1.01 diluted EPS); Adjusted EBITDA up 32% to $28.3M.
Debit & Credit segment net sales up 31% to $99.5M; Prepaid Debit up 8% to $25.3M.
Full-year 2022 outlook raised: net sales growth now low 20% (prev. high teens); Adj. EBITDA growth high teens (prev. low double-digit).
Gross margin improved to 38.9% vs 37.8% a year ago; operating leverage from higher sales offset inflation.
Net leverage ratio 3.6x; redeemed $20M of 8.625% notes in Q1; ABL facility increased to $75M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CPI Card Group Inc. reported fiscal quarter ended September 30, 2022 results: revenue $124.6 million, net income $11.9 million, EPS $1.01 diluted earnings per share. Guidance raised.

Period: fiscal quarter ended September 30, 2022
Revenue: $124.6 million
Net income: $11.9 million
EPS: $1.01 diluted earnings per share
Guidance: raised
Result: reported results

Exact text from the filing

is attached hereto as Exhibit 99.1. --- EX-99.1 (EX-99.1) --- CPI Card Group Inc. Reports Third Quarter 2022 Results Date: November 3, 2022 Net Sales Increased 25% to $125 Million; Net Income Increased 80% to $12 Million; Adjusted EBITDA Increased 32% to $28 Million Strong Sales Growth Across Portfolio and Improved Margins Drove Third Quarter Results

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Source: SEC EDGAR

accession 0001558370-22-016127

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