Cpi Card Group Inc. · NASDAQ:PMTS
Cpi Card — Q3 2025 Earnings Presentation
18 slides from Cpi Card's earnings presentation, Nov 4, 2025
Slide 1: Third Quarter 2025 Investor Presentation
Third Quarter 2025 Investor Presentation November 4, 2025
Slide 2: Cautionary Statements
Cautionary Statements Forward Looking Statements Certain statements and information in this presentation (as well as information included in other written or oral statements we make from time to time) may contain or constitute “forward-looking statements” within the meaning of the Private Securities
Slide 3: Agenda
Agenda 1 Overview and Strategy 2 Q3 Financial Review 3 2025 Outlook 4 Summary 3
Slide 4: Overview
Overview Q3 results in-line with expectations Net sales increased 11% o Comparisons with very strong prior year quarter o Arroweye performing well o Card@Once® instant issuance delivering strong growth Margin pressures from sales mix and increased production costs, including tariff expenses 2025 ful
Slide 5: Strategy Review
Strategy Review Vision: To be the most trusted partner for innovative payment technology solutions Strategic Pillars Customer focus Quality and efficiency Innovation and diversification People and culture Expand Addressable Markets Leverage technology connections and relationships within the U.S. pa
Slide 6: Strategy: Expand Addressable Markets
Strategy: Expand Addressable Markets Multiple growth initiatives / investments in various stages of implementation New Indiana secure card production facility Arroweye expansion Card@Once® instant issuance expansion Growing interest in other digital solutions Expanded healthcare payment card solutio
Slide 7: 2025 Q3 Financial Review
2025 Q3 Financial Review 7
Slide 8: Third Quarter Financial Highlights
Third Quarter Financial Highlights Q3 25 Q3 24 % Change (in millions, except per share data) Commentary Net Sales $ 138.0 $ 124.8 11% Net sales increase driven by the addition of Arroweye and growth in instant issuance; partially offset by a decline in Gross Profit $ 41.0 $ 44.7 -8% Prepaid sales %
Slide 9: Nine Months Financial Highlights
Nine Months Financial Highlights YTD 25 YTD 24 % Change (in millions, except per share data) Commentary Net Sales $ 390.5 $ 355.5 10% Net sales increase driven primarily by contactless debit and credit cards, instant issuance solutions, and the addition of Arroweye, partially offset by decreased per
Slide 10: Financial Highlights - Segments
Financial Highlights - Segments ($ in millions) Debit and Credit Q3 Net Sales & Operating Income Nine Months Net Sales & Operating Income $27.0 $75.2 $66.0 $21.3 $94.2 $93.2 $99.8 $283.3 $322.5 $207.3 $94.2 $115.3 $93.2 27.1% 18.5% 26.5% 24.0% 29.8% 20.5% 26.9% 26.9% 2024 2025 2024 2025 2024 2025 20
Slide 11: Balance Sheet, Liquidity, Net Leverage and Cash Flow
Balance Sheet, Liquidity, Net Leverage and Cash Flow $ in millions 2025 Highlights: Sep. 30, Dec. 31, Balance Sheet, Liquidity and Net Leverage Ratio Completed Arroweye acquisition for a purchase price of ~$46 2025 2024 million in May Cash on hand $ 16.0 $ 33.5 Ongoing investment in new Indiana secu
Slide 12: Visa and Mastercard U.S. Cards in Circulation
Visa and Mastercard U.S. Cards in Circulation Cards in circulation have grown at a 7% CAGR over the last three years to 2.2 B, up from 1.8 B 2,206 2,220 2,187 2,116 2,162 2,047 2,083 1,977 2,005 1,885 1,914 1,783 1,829 795 808 818 763 784 751 760 725 738 679 693 656 674 1,353 1,378 1,411 1,412 1,369
Slide 13: 2025 Outlook
2025 Outlook Net Sales and Adjusted EBITDA outlooks updated to reflect projected sales mix and timing of orders Full-year outlook 2025 ▪ Net Sales: low double-digit to low teens growth (previously low double-digit to mid-teens) ▪ Adjusted EBITDA¹: flat to low single-digit growth (previously mid-to-h
Slide 14: Summary
Summary Third Quarter in-line with expectations Net sales and Adjusted EBITDA outlook for 2025 updated Outlook changes reflect projected sales mix in Debit and Credit and timing in Prepaid Strong growth expected in the fourth quarter Long-term secular trends remain intact CPI well-positioned with in
Slide 15: Contact
Contact (877) 369-9016 investorrelations@cpicardgroup.com www.cpicardgroup.com 15
Slide 16: Reconciliations of Non-GAAP Financial Measures
Reconciliations of Non-GAAP Financial Measures Adjusted EBITDA and Adjusted EBITDA Margin Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 EBITDA represents earnings before interest, taxes, depreciation and Reconciliation of net income to EBITDA and Adjusted ($ in
Slide 17: Reconciliations of Non-GAAP Financial Measures
Reconciliations of Non-GAAP Financial Measures LTM Adjusted EBITDA Last Twelve Months Ended September 30, 2025 December 31, 2024 We define LTM Adjusted EBITDA as adjusted EBITDA Reconciliation of net income to LTM EBITDA and Adjusted EBITDA: ($ in millions) (defined previously) for the last twelve m
Slide 18: Supplemental Financial Measures
Supplemental Financial Measures Net Leverage Ratio As of September 30, 2025 December 31, 2024 Management and various investors use the ratio of debt Calculation of Net Leverage Ratio: ($ in millions) principal outstanding, plus finance lease obligations, less cash divided by LTM Adjusted EBITDA, or