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Sep 30, 2022
CPI Card Group Q3 2022 Earnings Report
Net sales and net income increased, driven by strong sales growth and improved margins.
Key Takeaways
CPI Card Group Inc. reported strong third quarter results with net sales increasing by 25% to $124.6 million and net income increasing by 80% to $11.9 million, driven by strong demand for payment solutions and solid execution.
Net sales increased 25% year-over-year to $124.6 million.
Net income increased 80% year-over-year to $11.9 million.
Debit and Credit segment net sales increased 31% to $99.5 million, driven by increased sales of higher-priced contactless cards.
Company increased 2022 outlook for net sales and Adjusted EBITDA.
CPI Card Group
CPI Card Group
CPI Card Group Revenue by Segment
Revenue by Segment
Debit & Credit Revenue
CapyFin.comPrepaid Debit Revenue
CapyFin.com Forward Guidance
The Company now expects full-year growth in the low 20 percent range for sales and high teens for Adjusted EBITDA. The full-year Adjusted EBITDA margin is still expected to be slightly below 20%.
Positive Outlook
- Strong sales growth expected in Debit and Credit segment.
- Prepaid Debit segment sales expected to be similar to the record level in 2021.
Challenges Ahead
- Full-year Adjusted EBITDA margin is still expected to be slightly below 20%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income