2023-03-08 07:16:04 ET
- CPI Card Group press release ( NASDAQ: PMTS ): Q4 GAAP EPS of $1.06 beats by $0.69 .
- Revenue of $126.4M (+35.6% Y/Y) beats by $23.1M .
- Fourth quarter gross profit increased 54% to $47.5 million and gross profit margin was 37.6%, which compared to 33.2% in the prior year fourth quarter.
- Adjusted EBITDA increased 100% to $27.2M.
- The Company expects mid-to-high single digit Adjusted EBITDA growth for 2023, Free Cash Flow to more than double, and year-end Net Leverage Ratio improvement to between 2.5x and 3.0x.
- Company anticipates continued share gains in expected slower-growth market in 2023; Initial outlook projects mid-single digit net sales growth, mid-to-high single digit Adjusted EBITDA growth, and strong improvement in cash flow and net leverage.
For further details see:
CPI Card beats Q4 top and bottom line estimates; initiates FY23 soft outlook