secwatch.observer — SEC 8-K summary
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Issuer:     CPI Card Group Inc. (PMTS)
CIK:        0001641614
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001558370-23-008650
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1641614/000155837023008650/0001558370-23-008650-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1641614/000155837023008650/pmts-20230509x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-008650

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