CPI Card Group Inc. ( (PMTS) ) has released its Q4 earnings. Here is a breakdown of the information CPI Card Group Inc. presented to its investors.
CPI Card Group Inc. is a payments technology company that offers a wide range of payment cards and digital solutions, primarily serving the U.S. market with a focus on eco-friendly and innovative payment solutions.
In its latest earnings report, CPI Card Group Inc. announced a strong performance for the fourth quarter and full year of 2024, with significant growth in net sales and a notable increase in net income. The company also provided a positive outlook for 2025, anticipating continued growth in net sales and Adjusted EBITDA.
Key financial highlights include a 22% increase in fourth-quarter net sales to $125 million and a 148% rise in net income to $7 million. For the full year, net sales grew by 8% to $481 million, with the prepaid debit segment experiencing a 26% increase. The company’s strategic focus on expanding into new markets and enhancing digital offerings contributed to these results.
CPI Card Group’s management expressed satisfaction with the company’s performance, particularly in the prepaid business, and highlighted strategic advancements such as expanding digital solutions and entering new customer verticals like healthcare payment solutions. The company also completed significant financial maneuvers, including debt refinancing and share repurchases, aimed at strengthening its financial position.
Looking ahead, CPI Card Group Inc. projects mid-to-high single-digit growth in net sales and Adjusted EBITDA for 2025. The company plans to continue investing in market expansion and digital solutions, with expectations of gaining market share in core segments and maintaining a strong position in the U.S. card market.