secwatch.observer — SEC 8-K summary
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Issuer:     CPI Card Group Inc. (PMTS)
CIK:        0001641614
Form:       8-K
Filed at:   2024-03-07T23:59:59+00:00
Accession:  0001558370-24-002664
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1641614/000155837024002664/0001558370-24-002664-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1641614/000155837024002664/pmts-20240307x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-002664

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