CPI Card Group Q3 net sales +18% to $124.8M; Adj. EBITDA +18%; raises FY outlook

CPI Card Group Inc.

2024-Q3 EPS reported $1.08 revenue$355,505,000

Net sales $124.8M (+18% YoY); Debit & Credit segment $99.8M (+19%), Prepaid $25.2M (+13%).
Net income $1.3M (-66%) from $8.8M debt refinancing costs; Adj. EBITDA $25.1M (+18%).
FY2024 outlook raised: net sales now mid-to-high single-digit growth; Adj. EBITDA low single-digit growth.
Closed $285M 10% Senior Secured Notes due 2029 and $75M ABL; redeemed $268M 8.625% notes due 2026.
Majority stockholder group sold 1.38M shares via secondary offering, reducing stake from 56% to 43%.

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