CPI Card Group Files Q3 2024 10-Q

TL;DR

CPI Card Group's Q3 2024 10-Q is in. Financials updated.

AI Summary

CPI Card Group Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter and the first nine months of the year. Key financial data and balance sheet information were disclosed, reflecting the company's performance and financial position.

Why It Matters

This filing provides investors with an update on CPI Card Group's financial health and operational performance for the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the specific financial performance and outlook within the report could indicate higher risk.

Key Numbers

• 2024-09-30 — Reporting Period End Date (This date marks the end of the financial period covered by the 10-Q.)
• 2024-11-05 — Filing Date (This is the date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• CPI Card Group Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241105 (date) — Filing date
• Tricor Pacific Capital Partners Fund Iv (company) — Mentioned in relation to financial reporting

FAQ

Key Financial Figures

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

Filing Documents

• pmts-20240930x10q.htm (10-Q) — 1707KB
• pmts-20240930xex31d1.htm (EX-31.1) — 19KB
• pmts-20240930xex31d2.htm (EX-31.2) — 16KB
• pmts-20240930xex32d1.htm (EX-32.1) — 8KB
• pmts-20240930xex32d2.htm (EX-32.2) — 7KB
• 0001558370-24-014325.txt ( ) — 7251KB
• pmts-20240930.xsd (EX-101.SCH) — 39KB
• pmts-20240930_cal.xml (EX-101.CAL) — 59KB
• pmts-20240930_def.xml (EX-101.DEF) — 150KB
• pmts-20240930_lab.xml (EX-101.LAB) — 356KB
• pmts-20240930_pre.xml (EX-101.PRE) — 262KB
• pmts-20240930x10q_htm.xml (XML) — 1464KB

— 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 29

— Controls and Procedures

Item 4 — Controls and Procedures 29

— Other Information

Part II — Other Information

— Legal Proceedings

Item 1 — Legal Proceedings 30

— Risk Factors

Item 1A — Risk Factors 30

— Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 — Unregistered Sales of Equity Securities and Use of Proceeds 30

— Defaults Upon Senior Securities

Item 3 — Defaults Upon Senior Securities 30

— Mine Safety Disclosures

Item 4 — Mine Safety Disclosures 30

— Other Information

Item 5 — Other Information 31

— Exhibits

Item 6 — Exhibits 31

Signatures

Signatures 32 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) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 14,650 $ 12,413 Accounts receivable, net 79,583 73,724 Inventories, net 92,286 70,594 Prepaid expenses and other current assets 12,295 8,647 Total current assets 198,814 165,378 Plant, equipment, leasehold improvements and operating lease right-of-use assets, net of accumulated depreciation of $ 72,651 and $ 66,436 respectively 64,073 63,053 Intangible assets, net of accumulated amortization of $ 54,533 and $ 51,763 respectively 11,352 14,122 Goodwill 47,150 47,150 Other assets 20,960 3,980 Total assets $ 342,349 $ 293,683 Liabilities and stockholders' deficit Current liabilities: Accounts payable $ 21,538 $ 12,802 Accrued expenses 52,107 35,803 Deferred revenue and customer deposits 1,466 840 Total current liabilities 75,111 49,445 Long-term debt 280,152 264,997 Deferred income taxes 5,057 7,139 Other long-term liabilities 24,820 24,038 Total liabilities 385,140 345,619 Commitments and contingencies (Note 12) Series A Preferred Stock; $ 0.001 par value— 100,000 shares authorized; 0 shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Stockholders' deficit: Common stock; $ 0.001 par value— 100,000,000 shares authorized; 11,159,418 and 11,446,155 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 11 11 Capital deficiency ( 105,827 ) ( 102,223 ) Accumulated earnings 63,025 50,276 Total stockholders' deficit ( 42,791 ) ( 51,936 ) Total liabilities and stockholders' deficit $ 342,349 $ 293,683 See accompanying notes to condensed consolidated financial statements 3 Table of Contents CPI Card Group Inc. and

View Full Filing

View this 10-Q filing on SEC EDGAR