---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-008650"
form_type: "8-K"
ticker: "PMTS"
cik: "0001641614"
company_name: "CPI Card Group Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T09:17:33.512689+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CPI Card Q1 net sales up 8% to $120.9M; net income up 81% to $10.9M; appoints new CFO; affirms 2023 outlook

## Summary
- Net sales $120.9M (+8% YoY); net income $10.9M ($0.91 diluted EPS) up 81%.
- Adjusted EBITDA $25.1M (+11%); gross margin 35.7% vs 35.3%; cash flow from ops improved to $8M.
- Debit & Credit segment net sales $102M (+11%); Prepaid Debit $19.1M (-2%).
- Jeffrey Hochstadt appointed CFO effective May 15; replaces Amintore Schenkel (family reasons).
- Affirms FY23 outlook: mid-single digit net sales growth, mid-to-high single digit Adj EBITDA growth; expects softer Q2 due to banking turmoil.

## SEC filing metadata
- accession: 0001558370-23-008650
- form_type: 8-K
- ticker: PMTS
- cik: 0001641614
- company_name: CPI Card Group Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1641614/000155837023008650/0001558370-23-008650-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1641614/000155837023008650/pmts-20230509x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-008650
- JSON: https://secwatch.observer/filing/0001558370-23-008650.json
- Plain text: https://secwatch.observer/filing/0001558370-23-008650.txt

## Key facts
- Earnings Releases
  CPI Card Group Inc. reported first quarter ended March 31, 2023 results: revenue $120.9 million, net income $10.9 million, EPS $0.91 diluted earnings per share. Guidance reaffirmed.
  - Period: first quarter ended March 31, 2023
  - Revenue: $120.9 million
  - Net income: $10.9 million
  - EPS: $0.91 diluted earnings per share
  - Guidance: reaffirmed
  - Result: reported results
  source text: CPI Card Group Inc. Reports First Quarter 2023 Results Date: May 9, 2023 ​ Net Sales Increased 8% to $121 Million; Net Income Increased 81% to $11 Million; Adjusted EBITDA Increased 11% to $25 Million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1641614/000155837023008650/0001558370-23-008650-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.