Loading...
•
Sep 30, 2022
Cimpress Q1 2023 Earnings Report
Solid progress was made on financial, operational, and strategic priorities.
Key Takeaways
Cimpress' Q1 FY2023 saw a 7% year-over-year revenue increase on a reported basis and 14% on an organic constant-currency basis. Adjusted EBITDA was down year over year due primarily to FY2022 investments in Vista, but was slightly ahead of expectations. Customer demand remains strong.
Consolidated revenue grew 7% year over year on a reported basis and 14% on an organic constant-currency basis.
Vista's revenue accelerated to double-digit growth for the remainder of the quarter driven by price increases, new product introduction, and higher advertising spend.
Adjusted EBITDA was down year over year due primarily to FY2022 investments in Vista.
Customer demand picture remains strong across Cimpress.
Cimpress
Cimpress
Cimpress Revenue by Segment
Revenue by Segment
PrintBrothers Revenue
CapyFin.comThe Print Group Revenue
CapyFin.comNational Pen Revenue
CapyFin.comAll Other Businesses Revenue
CapyFin.com Forward Guidance
Cimpress continues to expect results for FY2023 and beyond that are in line with the guidance given at the investor day on September 13, 2022.
Positive Outlook
- Customer demand remains strong
- Actively managing risks
- Variable costs are kept in line with demand
- Talent, technology, and data capabilities are strong
- Scale advantages are in place
Challenges Ahead
- Long list of uncertainties and risks exist in today's operating environment
- Possibility of demand picture change
- Need to act quickly to keep variable costs in line with demand
- Need to reduce discretionary investment from current levels if necessary
- Macroeconomic uncertainty, rising input costs and supply chain challenges
Revenue & Expenses
Visualization of income flow from segment revenue to net income