Cpi Card Group Stock Price, News & Analysis

CPI Card Group Inc. (Nasdaq: PMTS), a payments technology company, announced that certain stockholders affiliated with Parallel49 Equity have initiated a secondary public offering of 1,000,000 shares of the Company's common stock. The selling stockholders may grant underwriters a 30-day option for an additional 150,000 shares. CPI will not receive any proceeds from the sale, as all proceeds go to the selling stockholders. D.A. Davidson & Co. is the sole book-running manager for the offering.

The offering is subject to market conditions, with no guarantee of completion or final terms. A registration statement on Form S-3 has been filed and declared effective by the SEC. The Company has also filed a preliminary prospectus supplement and accompanying prospectus for the offering.

CPI Card Group Inc. (Nasdaq: PMTS) has announced a strategic partnership with Rippleshot to enhance fraud protection for its customers. Rippleshot's AI-based platform leverages machine learning and predictive analytics to detect and prevent credit and debit card fraud. The collaboration aims to help financial institutions proactively prevent fraudulent events, reduce costs associated with fraud loss, and improve cardholder satisfaction.

Key benefits of Rippleshot's platform include:

• Up to 35% decrease in fraud activity per year
• 10 times more compromised incidents identified than average network alerts
• 5 times less disruption to customers' transactions
• Ability to block high-risk merchants and mitigate data breach impacts

This partnership complements CPI's expanding suite of innovative solutions, including digital card and push provisioning services.

CPI Card Group and Cypris Materials have been awarded the Sustainability Initiative of the Year by the Business Intelligence Group (BIG) for their innovative use of CYPRIS structural color ink in card printing. This eco-friendly ink, made with 50% plant-based copolymers, offers more vibrant colors while reducing CO2 emissions by 30-60% compared to traditional inks.

The technology, inspired by nature's vibrant colors, uses Nobel Prize-winning principles to create non-toxic, durable alternatives to traditional pigments and dyes. CPI Card Group (Nasdaq: PMTS) plans to offer this sustainable option for payment card products, setting a new standard in eco-friendly card printing.

This recognition highlights the growing importance of sustainability in business practices and positions CPI Card Group among industry leaders in environmental responsibility and innovation.

CPI Card Group reported Q2 2024 results with a 3% increase in net sales to $119 million, driven by growth in Prepaid, instant issuance, and card personalization services. However, net income decreased 8% to $6 million and Adjusted EBITDA fell 6% to $22 million. Gross profit saw a slight increase to $42 million. For the first half of 2024, net sales were down 2% year-over-year.

The company updated its 2024 outlook, expecting mid-single digit growth in net sales and maintaining Adjusted EBITDA projections. A recent debt refinancing includes $285 million in Senior Secured Notes due 2029 and a new $75 million revolving credit facility.

CPI continues to lead in eco-focused card solutions with over 100 million cards sold since 2019 and significant installations of its instant issuance solutions. The company repurchased $9 million worth of shares and aims to maintain liquidity, invest in business growth, and deleverage its balance sheet.

CPI Card Group Inc. (Nasdaq: PMTS), a payments technology company, has announced its plans to release second quarter financial results on August 5, 2024, after market close. The company will host a webcast and conference call at 4:30 p.m. ET on the same day to discuss the results. President and CEO John Lowe and CFO Jeff Hochstadt will participate in the call.

Additionally, CPI Card Group will be participating in the KeyBanc Technology Leadership Forum in Vail on August 6, 2024. John Lowe, Jeff Hochstadt, and SVP of Investor Relations Mike Salop are scheduled to host investor meetings during the event.

CPI Card Group (Nasdaq: PMTS) has successfully closed a private offering of $285 million in senior secured notes due 2029, with a 10.000% interest rate. Concurrently, CPI has entered into a new $75 million secured asset-based revolving credit facility (ABL revolver), replacing the previous $75 million facility. The proceeds from the notes, combined with cash on hand, were used to redeem the company's outstanding 8.625% senior secured notes due 2026 and cover related costs. The notes are guaranteed by CPI and its domestic subsidiaries, with the offering available only to qualified institutional buyers and certain non-U.S. persons.

CPI Card Group has announced the pricing of a private offering of $285 million in 10.000% senior secured notes due 2029, scheduled to close on July 11, 2024. The proceeds will be used to redeem the company's 8.625% senior secured notes due 2026, covering associated fees and expenses. These notes will be senior secured obligations guaranteed by CPI and its domestic subsidiaries, and secured by most of their assets. The offering is restricted to qualified institutional buyers under Rule 144A and certain non-U.S. persons under Regulation S.

CPI Card Group announced a private offering of $285 million in senior secured notes due 2029 through its subsidiary, CPI CG. The proceeds will be used to redeem the company’s 8.625% senior secured notes due 2026 and cover related costs. This offering, targeting institutional buyers, is subject to market conditions and may not be completed. The notes will be guaranteed by CPI and its domestic subsidiaries, and will be secured by most of their assets. The offering is private and not registered under the Securities Act. No public offer or solicitation is involved.

CPI Card Group has been recognized with the 2024 Élan Award of Excellence in the People’s Choice category by the International Card Manufacturers Association (ICMA) for its innovative LED Card. The award was announced at the ICMA Expo in Orlando, Florida, held from May 13 to 16. The LED Card features embedded LEDs that illuminate when near a contactless reader, offering interactive feedback during transactions. This award reflects the industry and public appeal of CPI’s LED cards. Toni Thompson, Head of Operations, expressed gratitude for the team's dedication to innovation.