CPI Card Group Q4 net sales +36% to $126.4M; FY22 record; CFO resigns; 2023 guidance mid-single digit growth

CPI Card Group Inc.

Q4 net sales $126.4M (+36% YoY); net income $12.5M (+1,754%); Adj EBITDA $27.2M (+100%).
Full year net sales $475.7M (+27%, record); net income $36.5M (+129%); Adj EBITDA $97.7M (+28%).
2023 outlook: mid-single digit net sales growth, mid-to-high single digit Adj EBITDA growth, Free Cash Flow to more than double.
CFO Amintore Schenkel resigning for family reasons; will stay to assist transition; search for replacement underway.
Repurchased $25M of 8.625% Senior Secured Notes in 2022, $5M more in Q1 2023; year-end net leverage 3.0x.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Amintore Schenkel

Chief Financial Officer

PMTS · CPI Card Group Inc.

Filed: March 8, 2023, 6:59 PM ET

On March 7, 2023, Amintore Schenkel informed the Company that he will be resigning from his position as Chief Financial Officer of the Company due to family-related reasons.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CPI Card Group Inc. updated its fourth quarter and full year ended December 31, 2022 guidance (initiated).

Period: fourth quarter and full year ended December 31, 2022
Guidance: initiated
Result: reported results

Exact text from the filing

On March 8, 2023, CPI Card Group Inc. (the “Company”) issued a press release announcing financial results for its fiscal quarter ended December 31, 2022 (the “Earnings Release”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Amintore Schenkel departed as Chief Financial Officer at CPI Card Group Inc..

Action: resigning
Role: Chief Financial Officer

Exact text from the filing

On March 7, 2023, Amintore Schenkel informed the Company that he will be resigning from his position as Chief Financial Officer of the Company due to family-related reasons.

View on SEC.gov

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CPI Card Group Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-003079

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