CPI Card Group Files Q2 2024 10-Q Financial Report

TL;DR

CPI Card Group's Q2 2024 10-Q is in: financials detailed, check it out.

AI Summary

CPI Card Group Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position, including its assets, liabilities, and equity. Specific financial figures and operational details are provided for the quarter and year-to-date periods, allowing stakeholders to assess the company's financial health and strategic direction.

Why It Matters

This filing provides investors and analysts with the latest financial data for CPI Card Group, crucial for understanding the company's performance and making informed investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health indicators or operational challenges.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-08-05 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• CPI Card Group Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240805 (date) — Filing date of the report
• 0001641614 (company) — Central Index Key for CPI Card Group Inc.
• Tricor Pacific Capital Partners Fund Iv (company) — Shareholder mentioned in the filing

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value PMTS Nasdaq Global Market

Filing Documents

• pmts-20240630x10q.htm (10-Q) — 1677KB
• pmts-20240630xex31d1.htm (EX-31.1) — 19KB
• pmts-20240630xex31d2.htm (EX-31.2) — 16KB
• pmts-20240630xex32d1.htm (EX-32.1) — 8KB
• pmts-20240630xex32d2.htm (EX-32.2) — 7KB
• 0001558370-24-010857.txt ( ) — 7238KB
• pmts-20240630.xsd (EX-101.SCH) — 40KB
• pmts-20240630_cal.xml (EX-101.CAL) — 57KB
• pmts-20240630_def.xml (EX-101.DEF) — 161KB
• pmts-20240630_lab.xml (EX-101.LAB) — 361KB
• pmts-20240630_pre.xml (EX-101.PRE) — 278KB
• pmts-20240630x10q_htm.xml (XML) — 1424KB

— Financial Information

Part I — Financial Information

— Condensed Consolidated Financial Statements (Unaudited)

Item 1 — Condensed Consolidated Financial Statements (Unaudited) 3

— Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 — Management's Discussion and Analysis of Financial Condition and Results of Operations 19

— Quantitative and Qualitative Disclosures About Market Risk

Item 3 — Quantitative and Qualitative Disclosures About Market Risk 28

— Controls and Procedures

Item 4 — Controls and Procedures 28

— Other Information

Part II — Other Information

— Legal Proceedings

Item 1 — Legal Proceedings 29

— Risk Factors

Item 1A — Risk Factors 29

— Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 — Unregistered Sales of Equity Securities and Use of Proceeds 29

— Defaults Upon Senior Securities

Item 3 — Defaults Upon Senior Securities 29

— Mine Safety Disclosures

Item 4 — Mine Safety Disclosures 30

— Other Information

Item 5 — Other Information 30

— Exhibits

Item 6 — Exhibits 30

Signatures

Signatures 31 2 Table of Contents

- Financial Information

PART I - Financial Information

. Financial Statements

Item 1 . Financial Statements CPI Card Group Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in thousands, except share and per share amounts) (Unaudited) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 7,479 $ 12,413 Accounts receivable, net 76,425 73,724 Inventories, net 85,907 70,594 Prepaid expenses and other current assets 9,934 8,647 Total current assets 179,745 165,378 Plant, equipment, leasehold improvements and operating lease right-of-use assets, net of accumulated depreciation of $ 69,578 and $ 66,436 respectively 60,773 63,053 Intangible assets, net of accumulated amortization of $ 53,640 and $ 51,763 respectively 12,245 14,122 Goodwill 47,150 47,150 Other assets 21,533 3,980 Total assets $ 321,446 $ 293,683 Liabilities and stockholders' deficit Current liabilities: Accounts payable $ 20,279 $ 12,802 Accrued expenses 47,350 35,803 Deferred revenue and customer deposits 1,320 840 Total current liabilities 68,949 49,445 Long-term debt 269,654 264,997 Deferred income taxes 4,958 7,139 Other long-term liabilities 22,442 24,038 Total liabilities 366,003 345,619 Commitments and contingencies (Note 12) Series A Preferred Stock; $ 0.001 par value— 100,000 shares authorized; 0 shares issued and outstanding at June 30, 2024 and December 31, 2023 — — Stockholders' deficit: Common stock; $ 0.001 par value— 100,000,000 shares authorized; 11,186,596 and 11,446,155 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 11 11 Capital deficiency ( 106,300 ) ( 102,223 ) Accumulated earnings 61,732 50,276 Total stockholders' deficit ( 44,557 ) ( 51,936 ) Total liabilities and stockholders' deficit $ 321,446 $ 293,683 See accompanying notes to condensed consolidated financial statements 3 Table of Contents CPI Card Group Inc. and Subsidiaries Co

View Full Filing

View this 10-Q filing on SEC EDGAR