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Dec 31, 2021
Cimpress Q2 2022 Earnings Report
Cimpress delivered solid financial results while continuing significant organic investment.
Key Takeaways
Cimpress delivered solid financial results for Q2 FY2022 with reported revenue and organic constant-currency revenue growth of 9%. The company continued significant organic investment, particularly in the Vista business, against a backdrop of continued pandemic volatility and supply chain challenges.
Reported revenue and organic constant-currency revenue grew 9% year over year.
Upload and print businesses showed strong performance.
National Pen delivered record segment EBITDA.
Supply chain challenges and cost increases were experienced across all businesses.
Revenue by Segment
Forward Guidance
Cimpress continues to see volatility arising from the pandemic. As we have described previously, we expect to reduce leverage in FY2023. Our near-term capital allocation priority remains the same: making organic investments and delivering value from our two recent Vista acquisitions.
Positive Outlook
- We have made good progress against the plans we shared at our August investor day.
- This gives us confidence in our ability to deliver attractive returns from the major investments we are making in our business, particularly in Vista.
- We expect to reduce leverage in FY2023.
- Our near-term capital allocation priority remains the same: making organic investments and delivering value from our two recent Vista acquisitions.
Challenges Ahead
- Elevated COVID-19 cases in January and the related impact on in-person activity has dampened our consolidated bookings to date in January although we remain above last year's levels when severe government restrictions were in place particularly in Europe.
- As you will see from the results in this report, our leverage remains elevated due to the trailing-twelve-month impact of the pandemic on our financial results combined with incremental organic growth investments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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