Filing Flows › CPI Card Group (PMTS) › Q3 2025
CPI Card Group (PMTS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
CPI Card Group (PMTS) reported revenue of $138M for the third quarter 2025 (Q3 2025), +11% from a year earlier and +6% from the quarter before. Operating margin was 9.4%, net earnings $2.3M (1.7% of revenue).
CPI Card Group, Q3 2025: revenue $138M (+11% year over year), operating margin 9.4%, net earnings $2.3M, operating cash flow $10.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $138M | +6% | +11% |
| Gross profit | $41.0M | +2% | -8% |
| Operating profit | $13.0M | +38% | -27% |
| Net earnings | $2.3M | +346% | +78% |
| Operating cash flow | $10.0M | +130% | -20% |
| Free cash flow | $5.3M | — | -52% |
What changed
Revenue was $138.0M in Q3 2025, up 11% year over year and up 6% from the previous quarter. Products was the largest line at 61% of revenue. Products added $14.8M year over year (up 21%), 112% of the total change. Services declined 3%.
Gross margin was 29.7%, down 6.1 points from a year earlier. Operating profit was $13.0M, a 9.4% margin (down 4.8 points year over year). Operating profit fell $4.8M even though revenue rose $13.2M versus a year earlier, so costs grew faster than sales. Operating expenses grew 4% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+23%). Net earnings were $2.3M, up 78% year over year. The effective tax rate was 38.3%.
Operating cash flow was $10.0M (down 20% year over year), 432% of net earnings. Non-cash charges added back $6.1M of depreciation and amortization and $1.5M of share-based compensation. After capital expenditures for plant, equipment and leasehold improvements, net ($4.7M), free cash flow as the company reports it was $5.3M.
Questions
What was CPI Card Group's revenue in the third quarter 2025?
CPI Card Group (PMTS) reported revenue of $138M for the third quarter 2025 (Q3 2025), +11% from a year earlier and +6% from the quarter before.
Was CPI Card Group profitable in the third quarter 2025?
Operating profit was $13.0M (9.4% of revenue) and net earnings $2.3M.
Source: CPI Card Group 10-Q on SEC EDGAR.