Filing Flows › CPI Card Group (PMTS) › Q4 2025
CPI Card Group (PMTS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 5, 2026
CPI Card Group (PMTS) reported revenue of $153M for the fourth quarter 2025 (Q4 2025), +22% from a year earlier and +11% from the quarter before. Operating margin was 12.0%, net earnings $7.3M (4.8% of revenue).
CPI Card Group, Q4 2025: revenue $153M (+22% year over year), operating margin 12.0%, net earnings $7.3M, operating cash flow $39.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $153M | +11% | +22% |
| Gross profit | $48.3M | +18% | +13% |
| Operating profit | $18.3M | +41% | +15% |
| Net earnings | $7.3M | +218% | +9% |
| Operating cash flow | $39.6M | +297% | +49% |
| Free cash flow | $35.2M | — | +63% |
What changed
Revenue was $153.1M in Q4 2025, up 22% year over year and up 11% from the previous quarter.
Gross margin was 31.5%, down 2.5 points from a year earlier. Operating profit was $18.3M, a 12.0% margin (down 0.8 points year over year). Of the extra revenue versus a year earlier, 8% reached operating profit, below the 13% margin then. Operating expenses grew 12% against revenue growth of 22%. Net earnings were $7.3M, up 9% year over year. The effective tax rate was 27.1%.
Operating cash flow was $39.6M (up 49% year over year), 539% of net earnings. Non-cash charges added back $6.6M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items added $23.2M. After capital expenditures for plant, equipment and leasehold improvements, net ($4.4M), free cash flow as the company reports it was $35.2M.
Questions
What was CPI Card Group's revenue in the fourth quarter 2025?
CPI Card Group (PMTS) reported revenue of $153M for the fourth quarter 2025 (Q4 2025), +22% from a year earlier and +11% from the quarter before.
Was CPI Card Group profitable in the fourth quarter 2025?
Operating profit was $18.3M (12.0% of revenue) and net earnings $7.3M.
Source: CPI Card Group 10-K on SEC EDGAR.