Filing Flows › CPI Card Group (PMTS) › Q2 2025
CPI Card Group (PMTS) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
CPI Card Group (PMTS) reported revenue of $130M for the second quarter 2025 (Q2 2025), +9% from a year earlier and +6% from the quarter before. Operating margin was 7.3%, net earnings $518K (0.4% of revenue).
CPI Card Group, Q2 2025: revenue $130M (+9% year over year), operating margin 7.3%, net earnings $518K, operating cash flow $4.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $130M | +6% | +9% |
| Gross profit | $40.1M | -1% | -5% |
| Operating profit | $9.4M | -33% | -37% |
| Net earnings | $518K | -89% | -91% |
| Operating cash flow | $4.3M | -22% | — |
| Free cash flow | $533K | — | — |
What changed
Revenue was $129.8M in Q2 2025, up 9% year over year and up 6% from the previous quarter. Products was the largest line at 62% of revenue. Products added $17.1M year over year (up 27%), 156% of the total change. Services declined 11%.
Gross margin was 30.9%, down 4.8 points from a year earlier. Operating profit was $9.4M, a 7.3% margin (down 5.3 points year over year). Operating profit fell $5.5M even though revenue rose $10.9M versus a year earlier, so costs grew faster than sales. Operating expenses grew 12% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $518K, down 91% year over year. The effective tax rate was 61.4%.
Operating cash flow was $4.3M, 839% of net earnings. Non-cash charges added back $5.5M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items used $3.1M. After capital expenditures for plant, equipment and leasehold improvements, net ($3.8M), free cash flow as the company reports it was $533K.
Questions
What was CPI Card Group's revenue in the second quarter 2025?
CPI Card Group (PMTS) reported revenue of $130M for the second quarter 2025 (Q2 2025), +9% from a year earlier and +6% from the quarter before.
Was CPI Card Group profitable in the second quarter 2025?
Operating profit was $9.4M (7.3% of revenue) and net earnings $518K.
Source: CPI Card Group 10-Q on SEC EDGAR.