Welcome to our dedicated page for CPI Card Group news (Ticker: PMTS), a resource for investors and traders seeking the latest updates and insights on CPI Card Group stock.
CPI Card Group Inc. reports developments for a payments technology company that provides physical and digital payment solutions to U.S. financial institutions, processors, fintechs, prepaid program managers and related customers. Company updates center on payment card revenue drivers, contactless card demand, personalization services, prepaid card and secure packaging activity, and digital issuance tools such as the Card@Once® software-as-a-service instant issuance platform.
Recurring news also covers the integration of Arroweye, CPI's acquired on-demand payment card solutions business, customer and channel alliances with payments and credit union service organizations, digital wallet push provisioning initiatives, leadership changes, segment strategy and periodic financial results.
CPI Card Group Inc. reported a 7% decrease in net sales to $112 million, a 50% decrease in net income to $5 million, and an 8% decrease in Adjusted EBITDA to $23 million in the first quarter of 2024. Despite the declines, all metrics improved from the previous quarter. The company foresees a gradual market recovery in 2024 and affirmed its full-year net sales and Adjusted EBITDA outlook. CPI continues to lead in eco-focused payment cards and Software-as-a-Service-based instant issuance solutions in the U.S. market.
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