PMTS

CPI Card Group® Announces Expansion with New Production Facility in Fort Wayne, Indiana

Retrieved on: 
Tuesday, April 9, 2024
Technology, Payments, Finance, Fintech, Banking, Other Technology, Professional Services, Software, Data Management, Certification, Automation, CPI, Software as a service, Digital integration, Sustainability, PMTS, Workforce, LEED, Workplace

This new facility exemplifies CPI's commitment to meeting the evolving needs of its customers and driving innovation in the payments technology industry.

Key Points: 
  • This new facility exemplifies CPI's commitment to meeting the evolving needs of its customers and driving innovation in the payments technology industry.
  • “CPI is proud to continue operating in the Fort Wayne community, where we are locally engrained with a high-performing team,” said John Lowe, President and Chief Executive Officer.
  • This is the first time in CPI’s nearly 30-year history that we’ve had the opportunity to build a manufacturing facility to our specifications.
  • Fort Wayne employees are expected to complete their transition to the new facility by early 2026.

CPI Card Group Announces Additional Stock Purchase Agreement with Majority Shareholder Parallel49 Equity ULC

Retrieved on: 
Friday, March 15, 2024
Technology, Personal Finance, Payments, Finance, Banking, Professional Services, Software, Retail, Online Retail, Audit committee, PMTS, Fund, Share repurchase, CPI, LP

The new agreement covers the period April through June and follows an initial agreement that expires on March 31, 2024.

Key Points: 
  • The new agreement covers the period April through June and follows an initial agreement that expires on March 31, 2024.
  • As of December 31, 2023, Parallel49 owned 6.6 million shares of CPI common stock, or approximately 57% of outstanding shares.
  • CPI purchasing shares from Parallel49 at a 3 to 1 ratio to open market purchases maintains or reduces the Parallel49 ownership percentage in CPI and minimizes the share repurchase program’s impact on CPI’s public float.
  • CPI and Parallel49 may enter into similar agreements in the future, consistent with the Company’s share repurchase authorization.

CPI Card Group® Partners With MEA Financial Enterprises LLC to Offer Cardholder Solutions for Digital Wallets

Retrieved on: 
Wednesday, March 13, 2024
Technology, Payments, Finance, Banking, Other Technology, Professional Services, Software, Data Management, Other Professional Services, Rhea, CPI, Software as a service, Digital, Business development, PMTS, MEA, Online shopping

CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or “the Company”), a payments technology company providing a range of credit, debit, and prepaid card and digital solutions, including Software-as-a-Service (SaaS) instant issuance, today announced a referral relationship with MEA Financial Enterprises LLC (“MEA”), a national leader in the provision of innovative software solutions to the financial services marketplace.

Key Points: 
  • CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or “the Company”), a payments technology company providing a range of credit, debit, and prepaid card and digital solutions, including Software-as-a-Service (SaaS) instant issuance, today announced a referral relationship with MEA Financial Enterprises LLC (“MEA”), a national leader in the provision of innovative software solutions to the financial services marketplace.
  • This is expected to expand CPI’s client base and enhance the services that MEA provides to its mobile app users – which include approximately 300 financial institutions.
  • “By partnering with CPI to offer Push Provisioning, our financial institutions can provide an instant solution to their customers’ needs.
  • The company offers digital solutions like UniFI Banking and supports mobile banking across all operating systems, in addition to providing phone support, a text concierge, and other software tools for financial institutions.

CPI Card Group Inc. Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Thursday, March 7, 2024
Online Retail, Data Management, Retail, Communications, Technology, Software, Public Relations, Investor Relations, Senior, Debit and Credit, Note, Telephone, Share repurchase, Visa, Growth, Loss, Nature, Debt-to-GDP ratio, Adjustment, PMTS, GAAP, CPI, Public expenditure, Tax, LTM, ABL, Credit, Environment, Depreciation

As anticipated, fourth quarter sales were similar to third quarter levels as customers generally remained cautious with spending and continued their focus on managing inventory levels.

Key Points: 
  • As anticipated, fourth quarter sales were similar to third quarter levels as customers generally remained cautious with spending and continued their focus on managing inventory levels.
  • “Fourth quarter business trends were largely in-line with expectations, as customers continued to prioritize managing inventory levels,” said John Lowe, President and Chief Executive Officer.
  • Fourth quarter gross profit decreased 25% to $35.4 million and gross profit margin was 34.4%, which compared to 37.6% in the prior year fourth quarter.
  • CPI Card Group Inc. will hold a conference call on March 7, 2024 at 9:00 a.m. Eastern Time (ET) to review its fourth quarter and full year 2023 results.

CPI Card Group® to Group to Participate in the 36th Annual Roth Investor Conference

Retrieved on: 
Monday, February 26, 2024
Professional Services, Payments, Technology, Finance, Software, Fintech, Sustainability, PMTS, CPI, Conference, Metal

CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid card and digital solutions, including Software-as-a-Service-based instant issuance, today announced that it will be participating in the 36th Annual Roth Investor Conference in Dana Point, CA, on March 18, 2024.

Key Points: 
  • CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid card and digital solutions, including Software-as-a-Service-based instant issuance, today announced that it will be participating in the 36th Annual Roth Investor Conference in Dana Point, CA, on March 18, 2024.
  • John Lowe, President and Chief Executive Officer; Jeff Hochstadt, Chief Financial Officer; and Mike Salop, Head of Investor Relations; are scheduled to host investor meetings during the event.
  • This year’s event will consist of 1-on-1/small group meetings, analyst-selected fireside chats, and thematic and industry panels by executive management from approximately 500 private and public companies in a variety of growth sectors including: Consumer, Technology & Media, Sustainability & Industrial Growth, AgTech, Energy, Metals & Mining, Healthcare, Services and Insurance.
  • To learn more and submit a registration request, visit https://ibn.fm/Roth2024Registration .

CPI Card Group Inc. to Release Fourth Quarter Results on March 7, 2024

Retrieved on: 
Thursday, February 22, 2024
Software, Payments, Finance, Banking, Professional Services, Technology, Electronic Commerce, Fintech, PMTS, CPI, Telephone, Webcast

CPI Card Group Inc. (Nasdaq: PMTS) (“CPI Card Group”), a payment technologies company and leading provider of credit, debit, and prepaid card and digital solutions, including Software-as-a-Service-based instant issuance, today announced it will host a webcast and conference call on Thursday March 7, 2024 at 9:00 a.m. Eastern Time (ET) to discuss its fourth quarter and full year 2023 financial results.

Key Points: 
  • CPI Card Group Inc. (Nasdaq: PMTS) (“CPI Card Group”), a payment technologies company and leading provider of credit, debit, and prepaid card and digital solutions, including Software-as-a-Service-based instant issuance, today announced it will host a webcast and conference call on Thursday March 7, 2024 at 9:00 a.m. Eastern Time (ET) to discuss its fourth quarter and full year 2023 financial results.
  • CPI Card Group’s financial results for the fourth quarter will be released before the markets open on March 7, 2024.
  • The press release and a slide presentation to accompany the earnings conference call will be available on the CPI Card Group investor website: CPI Card Group - Investor Relations ( https://investor.cpicardgroup.com ).
  • A replay of the conference call will be available until March 21, 2024 at:
    A webcast replay of the conference call will also be available on CPI Card Group Inc.’s Investor Relations web site: https://investor.cpicardgroup.com

CPI Card Group Names John Lowe President and Chief Executive Officer

Retrieved on: 
Thursday, January 25, 2024
Software, Payments, Finance, Data Management, Professional Services, Technology, Fintech, Digital Cash Management, Digital Assets, Hawk Incentives, Senior, PMTS, Audit, Capital market, Maritz, State university system, Virginia Tech, Senior advisor, Growth, Digital, Giving, Retirement, CPI, Management

CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid solutions, today announced John Lowe has been named its new President and Chief Executive Officer and appointed to the Company’s Board of Directors, effective immediately.

Key Points: 
  • CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid solutions, today announced John Lowe has been named its new President and Chief Executive Officer and appointed to the Company’s Board of Directors, effective immediately.
  • Lowe succeeds outgoing President and Chief Executive Officer Scott Scheirman, who had previously announced his intention to retire in early 2024.
  • Lowe has been with CPI Card Group since 2018, most recently as Executive Vice President, End-to-End Payment Solutions since late 2022.
  • He previously served as the Company’s Senior Vice President and General Manager, Secure Card, beginning in 2021, and was the Company’s Chief Financial Officer from 2018 through 2021.

CPI Card Group Announces Share Purchase Agreement with Majority Shareholder Parallel49 Equity ULC

Retrieved on: 
Thursday, December 7, 2023
Software, Mobile, Wireless, Networks, Internet, Professional Services, Fintech, Data Management, Payments, Apps, Applications, Technology, Digital Cash Management, Digital Assets, Finance, Audit committee, Fund, Share repurchase, LP, Environment, PMTS, CPI, Security (finance)

The agreement has been approved by the Audit Committee of the Board of Directors of the Company.

Key Points: 
  • The agreement has been approved by the Audit Committee of the Board of Directors of the Company.
  • “We remain a big supporter of the Company and believe this agreement benefits both CPI shareholders and Parallel49 investors.”
    Parallel49 currently owns 6.6 million shares of CPI common stock, or approximately 57% of CPI’s outstanding common stock.
  • CPI purchasing shares from Parallel49 at a 3 to 1 ratio to open market purchases would maintain or reduce the Parallel49 ownership percentage in CPI and minimize the share repurchase impact on CPI’s public float.
  • The Company and Parallel49 may enter into similar agreements in the future, consistent with the Company’s share repurchase authorization.

CPI Card Group Inc. Reports Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 7, 2023
Data Management, Technology, Professional Services, Payments, Digital Cash Management, Digital Assets, Apps, Applications, Networks, Internet, Fintech, Mobile, Wireless, Finance, Adjustment, Loss, Tax, Public expenditure, Debit and Credit, EBITDA, Telephone, Visa, Share repurchase, GAAP, Scott Scheirman, PMTS, Software, CPI, Senior, Nature, LTM, Growth, Credit, Borrowing base, Depreciation, ABL, Payment card, Pharmaceutical industry, Video game, Financial services, Cryptocurrency, Online shopping, Bookkeeping, Bank, Music

CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit, and prepaid solutions, today reported financial results for the third quarter ended September 30, 2023 and updated its financial outlook for 2023.

Key Points: 
  • CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit, and prepaid solutions, today reported financial results for the third quarter ended September 30, 2023 and updated its financial outlook for 2023.
  • The Company believes long-term growth trends for the U.S. card market remain strong, led by consumer card growth, widespread adoption of eco-focused cards and the ongoing conversion to contactless cards.
  • Net sales decreased 15% year-over-year to $105.9 million in the third quarter of 2023.
  • “We are managing operating expenses tightly as we deal with the softer customer demand in 2023,” said Jeff Hochstadt, Chief Financial Officer of CPI.

CPI Card Group Announces Appointment of Ravi Mallela to its Board of Directors

Retrieved on: 
Tuesday, November 7, 2023
Software, Technology, Payments, Treasury, UCLA Anderson School of Management, MBA, PMTS, CPI, Economics, Senior, First Republic Bank, University, Management, First Hawaiian Bank, Mallela Theertham

CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid solutions, today announced that Ravi Mallela has been appointed to its Board of Directors as an independent member, effective November 15, 2023.

Key Points: 
  • CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid solutions, today announced that Ravi Mallela has been appointed to its Board of Directors as an independent member, effective November 15, 2023.
  • Mallela currently serves as the Chief Financial Officer of NMI Holdings Inc. (Nasdaq: NMIH), a publicly-traded mortgage insurance company.
  • “We are very pleased to have Ravi join the CPI Board,” said H. Sanford Riley, Chair of the Board of Directors.
  • With the addition of Mallela, CPI’s Board consists of seven members, including six independent members.