secwatch.observer — SEC 8-K summary
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Issuer:     CPI Card Group Inc. (PMTS)
CIK:        0001641614
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001558370-23-017843
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPI Card Group Q3 net sales down 15% to $105.9M; cuts full-year outlook
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- Q3 net sales $105.9M (-15% YoY); net income $3.9M ($0.33 diluted EPS) -68% YoY.
- Q3 Adjusted EBITDA $21.2M (-25% YoY); gross margin 34.1% vs 38.9% prior year.
- FY2023 outlook cut: net sales and Adj EBITDA now expected mid-single-digit decline (prior: flat/low growth).
- Board authorized $20M share repurchase program expiring Dec 31, 2024.
- Appointed Ravi Mallela (CFO of NMIH) as independent director, effective Nov 15, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1641614/000155837023017843/0001558370-23-017843-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1641614/000155837023017843/pmts-20231101x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-017843

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