---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-002664"
form_type: "8-K"
ticker: "PMTS"
cik: "0001641614"
company_name: "CPI Card Group Inc."
filed_at: "2024-03-07T23:59:59+00:00"
generated_at: "2026-06-05T01:35:21.328010+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# CPI Card Group Q4 net sales down 19% YoY, net income down 78%; FY2024 outlook slight growth

## Summary
- Q4 net sales $102.9M (-19% YoY); net income $2.7M (-78%); adjusted EBITDA $19.9M (-27%).
- Full year net sales $444.5M (-7%); net income $24.0M (-34%); adjusted EBITDA $89.5M (-8%).
- FY2024 outlook: slight increases in net sales and Adjusted EBITDA; Q1 sales expected similar to Q4 2023.
- Year-end net leverage 3.1x; $268M of 8.625% Senior Secured Notes due 2026; $20M buyback auth., >$4M executed.
- Debit & Credit segment net sales down 22%; Prepaid Debit down 5% in Q4; exec retention charge $3M.

## SEC filing metadata
- accession: 0001558370-24-002664
- form_type: 8-K
- ticker: PMTS
- cik: 0001641614
- company_name: CPI Card Group Inc.
- filed_at: 2024-03-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1641614/000155837024002664/0001558370-24-002664-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1641614/000155837024002664/pmts-20240307x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-002664
- JSON: https://secwatch.observer/filing/0001558370-24-002664.json
- Plain text: https://secwatch.observer/filing/0001558370-24-002664.txt

## Key facts
- Earnings Releases
  CPI Card Group Inc. reported fourth quarter and full year ended December 31, 2023 results: revenue $102.9 million, net income $2.7 million, EPS $0.23 diluted earnings per share. Guidance initiated.
  - Period: fourth quarter and full year ended December 31, 2023
  - Revenue: $102.9 million
  - Net income: $2.7 million
  - EPS: $0.23 diluted earnings per share
  - Guidance: initiated
  - Result: reported results
  source text: were similar to third quarter levels as customers generally remained cautious with spending and continued their focus on managing inventory levels. Net sales decreased 19% to $102.9 million in the quarter; net income decreased 78% to $2.7 million, reflecting the impact of the sales decline and an executive retention accrual; and Adjusted EBITDA decreased 27% to
  evidence_url: https://www.sec.gov/Archives/edgar/data/1641614/000155837024002664/0001558370-24-002664-index.htm

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