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CPI Card Group Inc

CPI Card Group Inc. provides physical and digital payment solutions for financial institutions, processors, fintechs, prepaid program managers, and other organizations in the United States. It operates through the Debit and Credit and Prepaid Debit segments. The Debit and Credit segment produces secure debit and credit cards, including contact, contactless, eco-focused, and magnetic stripe cards, and offers card services such as digital services, personalization, instant issuance, and digital push provisioning for mobile wallets. The Prepaid Debit segment primarily provides integrated card services, including tamper-evident security packaging, and produces payment cards issued on the networks of the payment card brands. The company also offers card data personalization and fulfillment services, SaaS-based instant card issuance and other digital solutions, an integrated end-to-end on-demand payment card solution, and Card@Once, a proprietary and patented SaaS-based instant card issuance system. It serves issuers of debit and credit cards, prepaid program managers, financial institution platform providers, card processor organizations, fintechs, small to mid-sized financial institutions, healthcare providers, entertainment venues, government disbursements, transit services, and others through sales representatives, customer relationships, and partners. The company was formerly known as CPI Holdings I, Inc. and changed its name to CPI Card Group Inc. in August 2015. It was incorporated in 2007 and is headquartered in Littleton, Colorado.

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CPI Card Group Closes Secondary Offering of 2,687,921 Shares at $21.50

CPI Card Group Inc. has closed its previously announced registered underwritten secondary public offering of common stock sold by certain stockholders affiliated with Parallel49 Equity. The offering totaled 2,687,921 shares at a public offering price of $21.50 per share, a figure that includes 350,598 shares sold under the underwriters' full exercise of their overallotment option. Gross proceeds to the selling stockholders came to approximately $57.8 million before deducting the underwriting discount and other estimated offering expenses, and CPI itself received no proceeds from the share sales. B. Riley Securities and D.A. Davidson & Co. served as joint book-running managers, with Lake Street Capital Markets as co-manager. Freshfields US LLP advised CPI, DLA Piper LLP advised the selling stockholders and Akerman LLP advised the underwriters.
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CPI Card Group Shares Plunge 16.3% as Parallel49 Equity Sells Stake at $21.50 Discount

CPI Card Group shares fell 16.3% after the credit card manufacturer announced that major stockholder Parallel49 Equity is selling between 2.3 million and 2.7 million shares on the secondary market at $21.50 per share, a 20% discount to the prior day's close. The sale follows a 37.5% August rally in which the stock soared after the company reported $25.9 million in positive free cash flow for the prior quarter. Parallel49 Equity, a private equity firm that has owned CPI Payments for 20 years, is taking advantage of the recent surge to exit its position. Following the sell-off, CPI stock trades at a price-to-free cash flow ratio of just 4x.
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CPI Card Group Raises 2026 Revenue and Free Cash Flow Guidance

CPI Card Group reported second quarter 2026 revenue growth of 15% to $149 million and raised its full-year revenue growth and free cash flow guidance. Adjusted EBITDA increased 7% to $24 million, and the company generated a record first-half free cash flow of $36 million. The company also completed the acquisition of TRISM, an instant issuance solution, which is expected to increase Integrated Paytech segment growth to approximately 20% in 2026. Net leverage was reduced to 2.7x, and $26.5 million of senior notes were redeemed after quarter end. Full-year free cash flow guidance was raised to $45 million to $50 million, while adjusted EBITDA growth guidance was maintained at low to mid-single digits.
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CPI Card Group Stock Rallies as Investors Reassess Earnings and Free Cash Flow

CPI Card Group shares continued to climb after investors took a second look at the company's second-quarter results. The stock jumped 13.3% following its earnings release and added another 5.5% in early trading, reversing an initial sell-off triggered by a headline earnings miss. Sales rose 15% year over year to $149 million, while free cash flow surged from $0.5 million to $25.9 million, pushing trailing free cash flow to $76.5 million. That leaves the stock trading at just 4.2 times free cash flow, or 7.5 times enterprise value to free cash flow, which analysts at The Motley Fool described as astoundingly cheap for a company growing at that pace.
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