---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-006901"
form_type: "8-K"
ticker: "PMTS"
cik: "0001641614"
company_name: "CPI Card Group Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T18:47:31.375342+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CPI Card Group Q1: net sales -7% to $111.9M, net income -50% to $5.5M, adj EBITDA -8% to $23M

## Summary
- Net sales $111.9M (-7% YoY); Debit & Credit down 14% to $88M, Prepaid up 26% to $24.2M.
- Net income $5.5M (-50% YoY) includes ~$2M CEO transition expenses; gross margin improved to 37.1% from 35.7%.
- Adjusted EBITDA $23M (-8% YoY); Free Cash Flow $7.4M vs $3.9M prior year.
- Full-year 2024 net sales and Adjusted EBITDA outlook affirmed (slight increase); Free Cash Flow outlook reduced.
- Net Leverage Ratio 3.1x; $1.25M open-market repurchases in Q1, $4.4M from majority shareholder in April.

## SEC filing metadata
- accession: 0001558370-24-006901
- form_type: 8-K
- ticker: PMTS
- cik: 0001641614
- company_name: CPI Card Group Inc.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1641614/000155837024006901/0001558370-24-006901-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1641614/000155837024006901/pmts-20240507x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-006901
- JSON: https://secwatch.observer/filing/0001558370-24-006901.json
- Plain text: https://secwatch.observer/filing/0001558370-24-006901.txt

## Key facts
- Earnings Releases
  CPI Card Group Inc. reported first quarter ended March 31, 2024 results: revenue $111.9 million, net income $5.5 million, EPS $0.46 diluted earnings per share.
  - Period: first quarter ended March 31, 2024
  - Revenue: $111.9 million
  - Net income: $5.5 million
  - EPS: $0.46 diluted earnings per share
  - Result: reported results
  source text: Release is attached hereto as Exhibit 99.1. ​ --- EX-99.1 (EX-99.1) --- CPI Card Group Inc. Reports First Quarter 2024 Results ​ Date: May 7, 2024 ​ Net Sales Decreased 7% to $112 Million; Net Income Decreased 50% to $5 Million; Adjusted EBITDA Decreased 8% to $23 Million Net Sales, Net Income, and Adjusted EBITDA Increased from Fourth Quarter Levels Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1641614/000155837024006901/0001558370-24-006901-index.htm

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