CPI Card Group
Provides secure cards, prepaid packaging, instant issuance, and digital provisioning for U.S. payment programs.
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Profile
Sells debit, credit, and prepaid card issuance services to U.S. financial institutions, processors, fintechs, and prepaid program managers. The business combines secure card production, personalization, fulfillment, Card@Once instant issuance, eco-focused materials, and newer integrated paytech services.
Builds and personalizes debit, credit, and prepaid payment cards for U.S. financial institutions, processors, fintechs, and prepaid program managers. Current reporting is organized around Secure Card Solutions, Prepaid Solutions, and Integrated Paytech.
Card@Once adds SaaS-based instant issuance for in-branch, on-demand cards, with digital push provisioning into mobile wallets. Eco-focused Earth Elements cards and Arroweye's on-demand personalization broaden the physical-card and fulfillment portfolio.
Execution depends on secure manufacturing, payment-card expertise, customer service, and compliance with payment-network and PCI data-security requirements. Order timing, material and labor costs, tariffs, competition, and customer inventory practices shape reported results.
Company facts
Categories
Key statistics
Year to date +102% · Average volume (30d) 89.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 11, 2026 | Roth Capital | Reiterate | Buy | $25 | $32 |
| Aug 11, 2026 | DA Davidson | Reiterate | Buy | $30 | $34 |
| May 6, 2026 | Lake Street | Target | $25 | $27 | |
| May 5, 2026 | Roth Capital | Target | $30 | $25 | |
| Nov 5, 2025 | Lake Street | Reiterate | Buy | $25 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.46 | $0.43 | −6.7% | $143.9M | $149.2M | +3.7% | +7.57% |
| May 5, 2026Q1 FY26 | $0.24 | $0.38 | +58.3% | $134.7M | $147.1M | +9.2% | −5.13% |
| Mar 5, 2026Q4 FY25 | $0.50 | $0.77 | +54.0% | $145.2M | $153.1M | +5.4% | −11.82% |
| Nov 4, 2025Q3 FY25 | $0.63 | $0.47 | −25.4% | $145.2M | $138.0M | −5.0% | +2.30% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $122.8M | $129.8M | $138.0M | $153.1M | $147.1M | $149.2M | |
| Gross profit | $40.7M | $40.1M | $41.0M | $48.3M | $44.1M | $48.5M | |
| Operating income | $14.1M | $9.4M | $13.0M | $18.3M | $11.0M | $11.9M | |
| Net income | $4.8M | $518.0K | $2.3M | $7.4M | $2.1M | $2.0M | |
| Diluted EPS | $0.40 | $0.04 | $0.19 | $0.62 | $0.17 | $0.17 | |
| Gross margin | 33.2% | 30.9% | 29.7% | 31.5% | 30.0% | 32.5% | |
| Operating margin | 11.5% | 7.3% | 9.4% | 12.0% | 7.5% | 8.0% |
Fiscal years (4-quarter sums)FY21 $375.1M · FY22 $475.7M · FY23 $444.5M · FY24 $480.6M · FY25 $543.5M
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $21.4M · Total debt $275.2M · Total assets $390.4M · Shareholders' equity −$11.5M
Dividends
No dividends on record.
Ownership
Shares outstanding 11.48M · Float 5.97M · 52.0% free float
A Form 4 total here can count shares the filer formally disclaims — an award voted by proxy, for instance — which the holder's own Schedule 13D/G excludes, so where the two disagree the schedule's smaller figure is used.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Parallel49 Equity, ULC | 2.69M | 23.60% | 13G | Jan 14, 2026 |
| Tricor Pacific Capital Inc. | 2.18M | 19.10% | 13D | Dec 18, 2025 |
| Tricor PMT25 Holdings Inc. · 10 percent owner | 2.18M | 18.96% | Form 4 | Dec 18, 2025 |
| Pacific Ridge Capital Partners, LLC | 466.0K | 4.06% | 13F | May 11, 2026 |
| BlackRock, Inc. | 431.4K | 3.76% | 13F | May 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 19, 2026 | H. Sanford Riley | director, other: Non-Executive Chairman | +11,900 | $16.00 |
| May 11, 2026 | Donna Abbey Carmignani | officer: Controller & Chief Acct. Off. | −4,870 | $15.32 |
| Dec 4, 2025 | Equity ULC Parallel49 | 10 percent owner | −2,126,056 | $13.51 |
| Dec 4, 2025 | H. Sanford Riley | director, other: Non-Executive Chairman | +200,000 | $13.51 |
| Nov 6, 2025 | H. Sanford Riley | director, other: Non-Executive Chairman | +10,000 | $14.20 |
Peers
- GPGI
Direct peer in premium secure card manufacturing
- Fiserv
Card issuing, processing, and instant-issuance overlap
- FIS
Issuer-processing scale overlaps digital card infrastructure
- Smurfit Westrock
Prepaid/card packaging overlap through WestRock roots
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| CPI Card Group | $28.83 | +0.38% | $330.8M | 25.1 | 8.1 | 0.6 | +15.0% |
| GPGI | $13.25 | +0.08% | $3.84B | — | 12.1 | — | — |
| Fiserv | $53.30 | +0.24% | $28.36B | 10.2 | 7.2 | 1.4 | −10.0% |
| FIS | $41.31 | −0.33% | $21.42B | 6.3 | 6.5 | 1.7 | +29.1% |
| Smurfit Westrock | $48.20 | −0.21% | $25.33B | 51.4 | 16.3 | 0.8 | +1.7% |
| Median | 10.2 | 9.6 | 1.4 | +1.7% |






