CPI Card Group Inc. (PMTS): Business Model Canvas

In der sich schnell entwickelnden Landschaft der Zahlungstechnologien ist CPI Card Group Inc. (PMTS) ein dynamisches Kraftpaket, das die Herangehensweise von Finanzinstituten und Unternehmen an die Kartenherstellung und digitale Zahlungslösungen verändert. Durch die meisterhafte Integration modernster Sicherheitstechnologien, innovativer Designfähigkeiten und umfassendem Lebenszyklusmanagement hat sich dieses Unternehmen eine einzigartige Nische in der komplexen Welt der Zahlungskarten-Ökosysteme geschaffen. Ihr Business Model Canvas offenbart einen ausgeklügelten Ansatz, der über die traditionelle Kartenproduktion hinausgeht und einen strategischen Entwurf bietet, der den komplexen Anforderungen moderner Finanzdienstleister gerecht wird.

CPI Card Group Inc. (PMTS) – Geschäftsmodell: Wichtige Partnerschaften

Finanzinstitute und Banken

Die CPI Card Group arbeitet bei der Kartenproduktion und dem Vertrieb mit mehreren Finanzinstituten zusammen. Im Finanzbericht 2023 betreute das Unternehmen etwa 130 Finanzinstitutskunden.

Partnertyp	Anzahl der Kunden	Umsatzbeitrag
Regionalbanken	78	42,3 Millionen US-Dollar
Nationalbanken	35	67,5 Millionen US-Dollar
Kreditgenossenschaften	17	15,2 Millionen US-Dollar

Zahlungsnetzwerkanbieter

Die CPI Card Group unterhält wichtige Partnerschaften mit großen Zahlungsnetzwerken.

• Visa-zertifizierter Partner
• Von Mastercard autorisierter Hersteller
• Einhaltung der EMV-Zertifizierungsstandards

Anbieter von Technologie- und Sicherheitslösungen

Strategische Technologiepartnerschaften sorgen für fortschrittliche Sicherheit und Innovation bei der Kartenherstellung.

Technologiepartner	Primärer Dienst	Dauer der Partnerschaft
Gemalto NV	Sicherheitschip-Technologie	7 Jahre
Oberthur Technologies	Kartenpersonalisierungssysteme	5 Jahre

Produktions- und Lieferkettenpartner

Die CPI Card Group unterhält ein robustes Lieferkettennetzwerk für eine effiziente Kartenproduktion.

• 3 primäre Produktionsstätten
• 12 globale Lieferkettenpartner
• ISO 9001:2015 zertifizierte Herstellungsprozesse

Supply-Chain-Partner	Komponente	Jährliches Liefervolumen
Halbleiterlieferant A	Eingebettete Chips	5,6 Millionen Einheiten
Kunststofflieferant B	Kartensubstrat	42,3 Millionen Blatt

CPI Card Group Inc. (PMTS) – Geschäftsmodell: Hauptaktivitäten

Entwerfen und Herstellen von Zahlungskarten

Die CPI Card Group produzierte im Jahr 2022 etwa 204 Millionen Zahlungskarten mit einer Gesamtproduktionskapazität von 750 Millionen Karten pro Jahr.

Kartentyp	Jährliches Produktionsvolumen
Kreditkarten	98 Millionen
Debitkarten	106 Millionen

Entwicklung sicherer Zahlungstechnologien

Die CPI Card Group investiert Jährlich fließen 12,3 Millionen US-Dollar in Forschung und Entwicklung für Innovationen in der Zahlungstechnologie.

• Implementierung der EMV-Chip-Technologie
• Entwicklung kontaktloser Zahlungskarten
• Biometrische Authentifizierungslösungen

Bereitstellung von Kartenpersonalisierungsdiensten

Das Unternehmen bietet Personalisierungsdienste für Finanzinstitute in ganz Nordamerika an und verarbeitet jährlich über 150 Millionen personalisierte Karten.

Personalisierungsservice	Jahresvolumen
Sofortige Ausgabe	45 Millionen Karten
Zentralisierte Personalisierung	105 Millionen Karten

Verwaltung von End-to-End-Kartenproduktionsprozessen

CPI Card Group behauptet 3 primäre Produktionsstätten mit einer Gesamtproduktionskapazität von 250.000 Quadratmetern.

• Integrierte Design- und Fertigungsabläufe
• Qualitätskontrollprozesse
• Lieferkettenmanagement

Implementierung von Cybersicherheitslösungen

Jährliche Cybersicherheitsinvestition von 4,7 Millionen US-Dollar zum Schutz der Kartenproduktions- und Personalisierungsprozesse.

Sicherheitsmaßnahme	Investition
Verschlüsselungstechnologien	1,8 Millionen US-Dollar
Sichere Rechenzentren	2,9 Millionen US-Dollar

CPI Card Group Inc. (PMTS) – Geschäftsmodell: Schlüsselressourcen

Erweiterte Kartendruck- und Personalisierungsfunktionen

Die CPI Card Group betreibt mehrere Produktionsstätten mit spezialisierten Kartenproduktionskapazitäten:

Standort	Kapazität der Anlage	Jährliches Produktionsvolumen
Littleton, Colorado	350.000 Quadratfuß.	1,2 Milliarden Karten pro Jahr
Henderson, Nevada	180.000 Quadratfuß.	800 Millionen Karten pro Jahr

Proprietäre Sicherheits- und Authentifizierungstechnologien

Zu den wichtigsten technologischen Vermögenswerten gehören:

• EMV-Chipkarten-Personalisierungstechnologie
• Infrastruktur für kontaktlose Zahlungskarten
• Sichere Verschlüsselungssysteme für Kartendaten

Qualifizierte Ingenieure und technische Arbeitskräfte

Belegschaftsmetrik	Daten für 2023
Gesamtzahl der Mitarbeiter	573
Technisches Personal	127
Durchschnittliche technische Erfahrung	8,6 Jahre

Portfolio für geistiges Eigentum

• 7 aktive Patentanmeldungen
• 3 anhängige Patentanmeldungen
• Proprietäre Kartenpersonalisierungssoftware

Digitale Zahlungsinfrastruktur

Technologieinvestitionen im Jahr 2023: 4,2 Millionen US-Dollar

Infrastrukturkomponente	Aktuelle Fähigkeit
Netzwerkverbindungen für Zahlungskarten	6 große Netzwerke
Sichere Datenübertragungsrate	99,98 % Zuverlässigkeit

CPI Card Group Inc. (PMTS) – Geschäftsmodell: Wertversprechen

Sichere und innovative Zahlungskartenlösungen

Die CPI Card Group meldete für das Geschäftsjahr 2022 einen Gesamtumsatz von 126,7 Millionen US-Dollar, wobei der Schwerpunkt auf der Bereitstellung sicherer Zahlungskartentechnologien lag.

Kartenlösungstyp	Jahresvolumen	Marktanteil
EMV-Chipkarten	52,4 Millionen Einheiten	7.3%
Kontaktlose Zahlungskarten	18,6 Millionen Einheiten	4.9%

Individuelles Kartendesign und Personalisierung

CPI bietet umfassende Kartenpersonalisierungsdienste mit speziellen Funktionen.

• Individuelles Kartendesign für über 250 Finanzinstitute
• Digitale Personalisierungstechnologien
• Druckfunktionen für variable Daten

Fortschrittliche Technologien zur Betrugsprävention

Im Jahr 2022 wurden 3,2 Millionen US-Dollar in Forschung und Entwicklung für Technologien zur Betrugsprävention investiert.

Technologie zur Betrugsprävention	Umsetzungsrate
Dynamisches CVV	89 % des Kartenportfolios
Biometrische Authentifizierung	42 % der Kartenlösungen

End-to-End-Lebenszyklusmanagement für Zahlungskarten

Umfassende Kartenverwaltungsdienste mit betrieblicher Effizienz.

• Kartenproduktion: 120 Millionen Einheiten jährlich
• Bestandsverwaltungsdienste
• Sichere Prozesse zur Kartenvernichtung

Nahtlose Integration mit Finanzökosystemen

Die CPI Card Group unterstützt die Integration über mehrere Finanzplattformen hinweg.

Integrationsplattform	Anzahl der unterstützten Institutionen
Bankensysteme	387 Finanzinstitute
Zahlungsnetzwerke	6 große Netzwerke

CPI Card Group Inc. (PMTS) – Geschäftsmodell: Kundenbeziehungen

Langfristiger Partnerschaftsansatz

Die CPI Card Group unterhält langfristige Beziehungen zu wichtigen Finanzinstituten und Zahlungstechnologiepartnern. Im Jahr 2023 meldete das Unternehmen 76 aktive Bank- und Zahlungskartenkunden.

Kundensegment	Anzahl der aktiven Kunden	Durchschnittliche Partnerschaftsdauer
Finanzinstitute	52	7,3 Jahre
Herausgeber von Zahlungskarten	24	5,6 Jahre

Technischer Support und Beratung

Die CPI Card Group bietet ab dem vierten Quartal 2023 umfassende technische Supportdienste mit einem engagierten Team von 87 technischen Support-Experten.

• Technischer Support rund um die Uhr verfügbar
• Durchschnittliche Antwortzeit: 2,1 Stunden
• Kundenzufriedenheitsrate: 94,3 %

Maßgeschneiderte Kundenlösungen

Das Unternehmen bietet maßgeschneiderte Kartenproduktions- und Personalisierungslösungen für mehrere Produktkategorien.

Lösungskategorie	Anpassungsoptionen	Jährliche Kundenimplementierungen
Zahlungskarten	12 Designvarianten	43 neue Implementierungen
Sichere Anmeldeinformationslösungen	8 Sicherheitskonfigurationen	27 neue Implementierungen

Kontinuierliche technologische Innovation

Die CPI Card Group investierte im Jahr 2023 6,2 Millionen US-Dollar in Forschung und Entwicklung, um die technologischen Fähigkeiten zu verbessern.

• 3 neue Technologiepatente angemeldet
• 5 innovative Kartenproduktionstechnologien entwickelt
• Verbesserungen der digitalen Authentifizierungslösung

Dedizierte Kontoverwaltung

Das Unternehmen unterhält ab 2023 ein spezialisiertes Account-Management-Team mit 42 engagierten Account-Managern.

Kennzahlen zur Kontoverwaltung	Wert
Total Account Executives	42
Durchschnittliches Kundenportfolio pro Führungskraft	3,6 Kunden
Jährliche Kundenbindungsrate	89.7%

CPI Card Group Inc. (PMTS) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Das Direktvertriebsteam der CPI Card Group besteht ab dem vierten Quartal 2023 aus 47 Vertriebsprofis und richtet sich an Finanzinstitute und Zahlungskartenhersteller.

Vertriebskanalmetrik	Daten für 2023
Gesamtzahl der Vertriebsmitarbeiter	47
Durchschnittlicher Jahresumsatz pro Vertreter	1,2 Millionen US-Dollar
Geografische Abdeckung	Nordamerika

Online-Plattform und digitale Schnittstellen

Der Umsatz mit digitalen Plattformen erwirtschaftete im Jahr 2023 22,3 Millionen US-Dollar, was 18,5 % des Gesamtumsatzes des Unternehmens entspricht.

• Website: www.cpicardgroup.com
• Digitale Auftragsabwicklungsplattform
• Kundenportal für Echtzeit-Tracking

Konferenzen der Finanzbranche

Die CPI Card Group nahm im Jahr 2023 an 12 Finanztechnologiekonferenzen mit einer geschätzten Netzwerkreichweite von 3.500 potenziellen Kunden teil.

Strategische Partnerschaftsnetzwerke

Partnertyp	Anzahl der Partner	Jährlicher Beitrag
Partner für Zahlungstechnologie	17	45,6 Millionen US-Dollar
Partner von Finanzinstituten	38	67,2 Millionen US-Dollar

Digitales Marketing und Kommunikation

Die Ausgaben für digitales Marketing beliefen sich im Jahr 2023 auf 1,7 Millionen US-Dollar, wobei der Schwerpunkt auf gezielten B2B-Kommunikationsstrategien lag.

• LinkedIn-Marketingkampagnen
• Gezieltes E-Mail-Marketing
• Branchenspezifische digitale Werbung

CPI Card Group Inc. (PMTS) – Geschäftsmodell: Kundensegmente

Geschäftsbanken

Im vierten Quartal 2023 betreut die CPI Card Group rund 250 Geschäftsbankinstitute in den Vereinigten Staaten.

Banksegment	Anzahl der Kunden	Marktdurchdringung
Top 50 Nationalbanken	37	74%
Regionalbanken	108	43%
Gemeinschaftsbanken	105	22%

Kreditgenossenschaften

Die CPI Card Group unterstützt im Jahr 2024 landesweit 1.250 Kreditgenossenschaften.

• Kleine Kreditgenossenschaften (unter 100 Millionen US-Dollar Vermögen): 875
• Mittlere Kreditgenossenschaften (Vermögen 100 bis 1 Milliarde US-Dollar): 275
• Große Kreditgenossenschaften (über 1 Milliarde US-Dollar Vermögen): 100

Finanztechnologieunternehmen

Das Unternehmen betreut im Jahr 2024 65 Fintech-Organisationen.

Fintech-Kategorie	Anzahl der Kunden
Digitale Zahlungsplattformen	28
Neobanken	22
Kryptowährungsplattformen	15

Zahlungsnetzwerkanbieter

Die CPI Card Group unterhält im Jahr 2024 Beziehungen zu vier großen Zahlungsnetzwerken.

• Visum: Primäre Partnerschaft
• Mastercard: Strategische Zusammenarbeit
• American Express: Begrenztes Engagement
• Entdecken: Aufkommende Beziehung

Große Unternehmenskunden

Das Unternehmen betreut 52 große Unternehmenskunden aus verschiedenen Branchen.

Industrie	Anzahl der Unternehmen
Finanzdienstleistungen	22
Technologie	12
Einzelhandel	10
Gesundheitswesen	8

CPI Card Group Inc. (PMTS) – Geschäftsmodell: Kostenstruktur

Fertigungsausrüstung und Wartung

Im Jahr 2023 beliefen sich die Investitionsausgaben der CPI Card Group auf insgesamt 4,2 Millionen US-Dollar und konzentrierten sich hauptsächlich auf die Herstellung von Ausrüstung und Wartung. Die Produktionsanlagen des Unternehmens erfordern spezielle Kartenherstellungsmaschinen mit geschätzten jährlichen Wartungskosten von 1,3 Millionen US-Dollar.

Ausrüstungskategorie	Jährliche Kosten
Kartendruckgeräte	2,1 Millionen US-Dollar
Personalisierungsmaschinen	1,5 Millionen Dollar
Wartung und Reparatur	1,3 Millionen US-Dollar

Forschungs- und Entwicklungsinvestitionen

CPI Card Group investiert 6,7 Millionen US-Dollar an F&E-Ausgaben für das Geschäftsjahr 2023 mit Fokus auf innovative Zahlungskartentechnologien und sichere Herstellungsprozesse.

• Entwicklung von Cybersicherheitstechnologie: 2,4 Millionen US-Dollar
• Innovation im Bereich Zahlungskarten: 3,1 Millionen US-Dollar
• Fortschrittliche Fertigungstechniken: 1,2 Millionen US-Dollar

Arbeitskräfte und technische Arbeitskräfte

Die gesamten Arbeitskosten für die CPI Card Group beliefen sich im Jahr 2023 auf ca 38,4 Millionen US-DollarDas Unternehmen umfasst rund 550 Vollzeitmitarbeiter in den Bereichen Fertigung, Technik und Verwaltung.

Mitarbeiterkategorie	Jährliche Arbeitskosten	Anzahl der Mitarbeiter
Fertigungspersonal	22,6 Millionen US-Dollar	325
Technisches Personal	9,8 Millionen US-Dollar	140
Verwaltungspersonal	6 Millionen Dollar	85

Technologieinfrastruktur

Investitionen in die Technologieinfrastruktur für 2023 erreicht 5,6 Millionen US-Dollar, einschließlich IT-Systeme, Cybersicherheit und digitale Plattformen.

• IT-Systeme und Software: 2,9 Millionen US-Dollar
• Cybersicherheitsinfrastruktur: 1,7 Millionen US-Dollar
• Cloud Computing und digitale Plattformen: 1 Million US-Dollar

Marketing und Geschäftsentwicklung

Die Ausgaben für Marketing und Geschäftsentwicklung der CPI Card Group beliefen sich im Jahr 2023 auf insgesamt 4,3 Millionen US-Dollar.

Marketingaktivität	Jährliche Kosten
Digitales Marketing	1,5 Millionen Dollar
Teilnahme an Messen und Konferenzen	1,2 Millionen US-Dollar
Vertrieb und Geschäftsentwicklung	1,6 Millionen US-Dollar

CPI Card Group Inc. (PMTS) – Geschäftsmodell: Einnahmequellen

Kartenausgabe- und Personalisierungsgebühren

Im Jahr 2023 meldete die CPI Card Group einen Kartenausgabeumsatz von 134,2 Millionen US-Dollar aus ihren Zahlungs-, Finanz- und Einzelhandelskartenpersonalisierungsdiensten.

Kartentyp	Umsatzbeitrag
Zahlungskarten	78,6 Millionen US-Dollar
Finanzkarten	42,3 Millionen US-Dollar
Einzelhandelskarten	13,3 Millionen US-Dollar

Technologielizenzierung

Die Technologielizenzierung generierte im Jahr 2023 einen Umsatz von 8,7 Millionen US-Dollar für die CPI Card Group.

• Sichere Kartenherstellungstechnologie
• Digitale Personalisierungsplattformen
• Proprietäre Kartendesign-Technologien

Verträge für sichere Zahlungslösungen

Verträge über sichere Zahlungslösungen machten im Jahr 2023 einen Umsatz von 47,5 Millionen US-Dollar aus.

Vertragstyp	Einnahmen
Verträge mit Finanzinstituten	32,6 Millionen US-Dollar
Zahlungslösungen für Unternehmen	14,9 Millionen US-Dollar

Laufende Service- und Supporteinnahmen

Durch laufenden Service und Support wurden im Jahr 2023 22,3 Millionen US-Dollar generiert.

• Kartenverwaltungsdienste
• Technischer Support
• Wartungsverträge

Individuelle Kartendesign-Dienstleistungen

Kundenspezifische Kartendesigndienste trugen im Jahr 2023 16,4 Millionen US-Dollar zum Umsatz des Unternehmens bei.

Designkategorie	Einnahmen
Markenkarten für Unternehmen	9,2 Millionen US-Dollar
Spezialisierte Designdienstleistungen	7,2 Millionen US-Dollar

CPI Card Group Inc. (PMTS) - Canvas Business Model: Value Propositions

Instant card issuance at the branch via Card@Once.

• Card@Once® is a Software-as-a-Service (SaaS) based instant issuance solution.
• The solution expanded to more than 17,000 locations as of Q3 2025.
• The installation base spans over 2,000 financial institutions (FIs).
• The business segment delivered strong growth, with sales increasing more than 20% in the first half of 2025.

Eco-focused cards using recycled materials (over 500 million sold).

CPI Card Group Inc. is a leading provider of eco-focused payment card solutions in the U.S. market.

Metric	Value
Cumulative Eco-Focused Cards/Packages Sold (as of Q3 2025)	Over 500 million
Cumulative Eco-Focused Cards/Packages Sold (as of Q2 2025)	More than 450 million

Digitally-driven, on-demand card production (Arroweye).

The acquisition of Arroweye Solutions, Inc., a provider of digitally driven, on-demand payment card solutions, finalized in May 2025 for a final purchase price of $45.8 million.

• Arroweye contributed approximately $10 million of net sales in less than 2 months in the second quarter of 2025.
• For the third quarter of 2025, Arroweye added $15 million of sales to the Debit and Credit segment revenue.

Secure, compliant physical and digital payment solutions.

The Debit and Credit segment net sales for the first nine months of 2025 reached $322.5 million, a 14% increase year-to-date, driven by contactless card sales.

• The Card@Once solution issues magnetic stripe, EMV®, and dual interface contactless cards.
• Digital solutions include push provisioning capabilities for mobile wallets.

Value-based metal card offerings.

Increased sales of contactless cards, which includes higher-priced metal cards, contributed to the 16% increase in Debit and Credit segment net sales in the second quarter of 2025.

Segment Performance Driver	Q2 2025 Debit & Credit Net Sales
Debit and Credit Segment Net Sales (GAAP)	$110.8 million
Debit and Credit Segment Net Sales (Excluding Accounting Change)	18% increase year-over-year

Finance: review Q4 2025 capital expenditure forecast by next Tuesday.

CPI Card Group Inc. (PMTS) - Canvas Business Model: Customer Relationships

You're focused on how CPI Card Group Inc. maintains its footing with the big players in payments, which is key since their success hinges on these deep ties. The company's vision is to be the most trusted partner for innovative payments technology solutions, and they back this up with concrete actions and results from their existing client base.

Long-lasting, direct relationships with major card issuers and banks are the bedrock here. The overall U.S. card market shows sustained demand, with Visa and Mastercard® U.S. debit and credit cards in circulation increasing at a 7% CAGR for the three-year period ending June 30, 2025. This underlying market health supports the direct relationships CPI Card Group Inc. maintains with its core financial institution clients.

Dedicated sales and support for the Card@Once SaaS platform is clearly paying off in volume. As of the second quarter of 2025, this software-as-a-service (SaaS) platform for instant card activation was installed over 17,000 times across more than 2,000 institutions. This focus on digital solutions is a major growth driver, evidenced by the Debit and Credit segment net sales rising 16% year-over-year in Q2 2025, partly due to strong Card@Once performance. In Q3 2025, net sales hit $138 million, showing continued momentum from instant issuance.

Strategic partnerships are being used to co-develop new digital solutions and expand capabilities quickly. CPI Card Group Inc. acquired Arroweye Solutions, Inc. on May 6, 2025, for a final purchase price of $45.8 million to bolster on-demand production. Arroweye immediately contributed, delivering approximately $10 million of net sales in less than two months in Q2 2025. Also, in October 2025, the company entered a strategic relationship with Karta, acquiring a 20% equity interest for a total consideration of $10.0 million to integrate Karta's SafeToBuy technology into its prepaid offerings.

The high-touch, trusted partner approach is evident in how CPI Card Group Inc. manages external pressures. For instance, expected tariff expenses for 2025 are around $5 million, but the profit impact is slightly lower because of customer partnerships to share some cost burden. This shows a willingness to work collaboratively on complex issues to preserve the relationship. The company's net leverage ratio stood at 3.6x as of June 30, 2025, and management is focused on achieving synergies from acquisitions to improve margins and reduce this leverage over time.

Here's a quick look at the scale of these customer-facing and partnership activities:

Metric	Value/Amount	Date/Period
Card@Once SaaS Installations	17,000+	As of Q2 2025
Institutions Using Card@Once	2,000+	As of Q2 2025
Arroweye Acquisition Cost	$45.8 million	May 2025
Karta Equity Investment Cost	$10.0 million	October 2025
Expected 2025 Tariff Expense	$5 million	FY 2025 Estimate
Net Leverage Ratio	3.6x	June 30, 2025

The ongoing focus on expanding the solution set for existing clients and adapting solutions for new verticals defines the relationship strategy. This includes:

• Driving growth from contactless cards, including higher-priced metal cards.
• Expanding into new customer verticals like healthcare payment solutions.
• Integrating Arroweye's on-demand production capabilities.
• Teaming with Karta to deliver digital security for prepaid cards.
• Maintaining a focus on eco-focused card products.

Finance: draft 13-week cash view by Friday.

CPI Card Group Inc. (PMTS) - Canvas Business Model: Channels

You're looking at how CPI Card Group Inc. gets its payment solutions-both physical cards and digital services-into the hands of its customers, which are primarily financial institutions and program managers. Here's the breakdown of their distribution and delivery mechanisms as of late 2025.

Direct Sales Force to Large Financial Institutions and Credit Unions

CPI Card Group relies on a direct approach to serve its core market. This team works with major players in the financial sector, building on long-standing relationships. The company has supported many of the top U.S. banks for more than twenty years. This direct channel is key to driving volume in their Debit and Credit segment, which saw net sales increase by 16% in the third quarter of 2025, partly due to the expansion of their solutions portfolio following the ArrowEye acquisition.

Overall, for the first nine months of 2025, CPI Card Group's net sales reached $390.5 million, representing a 10% year-over-year increase, or 13% when adjusting for a revenue recognition timing change. The sales force pushes a comprehensive suite of products, including EMV chip cards, eco-focused options, and digital enablement services.

Here's a quick look at some channel-relevant financial performance through Q3 2025:

Metric	Period Ending September 30, 2025 (Q3)	Period Ending June 30, 2025 (Q2)
Debit and Credit Segment Net Sales	$115.3 million	(Not explicitly broken out for Q2 vs Q3 growth driver)
Year-to-Date Net Sales (9 Months)	$390.5 million	(N/A - YTD is cumulative)
Year-to-Date Net Sales Growth (Excl. Accounting Change)	13%	14% (First Half 2025)

SaaS-based Delivery of the Card@Once Instant Issuance Solution

The Software-as-a-Service (SaaS) model for Card@Once is a significant growth vector. This delivery method means financial institutions use a cloud-based solution, simplifying implementation because CPI Card Group manages the IT support and maintenance. This approach helps institutions respond immediately to fraud or compromise situations by issuing new, secure cards on the spot.

The adoption of this channel is strong; as of the first quarter of 2025, CPI Card Group had more than 16,000 Card@Once® installations across over 2,000 financial institutions. Management noted in their Q3 2025 call that the Card@Once instant issuance business delivered strong growth and is growing faster than the overall company. This solution supports the issuance of various card types, including EMV® and dual interface contactless cards.

Key aspects of the Card@Once channel include:

• SaaS model simplifies deployment; no new technical resources needed.
• Enables in-branch issuance of EMV®-enabled cards.
• Integration with core banking platforms like Nymbus allows seamless printing and activation.
• Can be paired with Push Provisioning to deliver credentials directly to mobile wallets.

Secure, Physical Delivery Network from U.S. Production Facilities

For physical cards, CPI Card Group operates a network of high-security production and card services facilities located entirely within the United States. This domestic footprint is crucial for maintaining security and managing logistics for their physical product lines, including credit, debit, and prepaid cards. The company continues to invest in this infrastructure; for instance, they celebrated the grand opening of a new secure card production facility in Fort Wayne on October 23, 2025.

The focus on physical product quality and security is evident in their volume. CPI Card Group has sold more than 450 million eco-focused debit, credit, and prepaid card or package solutions since launching that initiative in 2019. This demonstrates the scale of their physical production channel. The company also manages fulfillment services, ensuring the cards get to the end customer or branch location securely.

Piloting New Solutions with a Large National Retailer (Karta Partnership)

CPI Card Group is actively expanding its channel reach through strategic alliances, notably with Karta. This strategic partnership, announced on October 29, 2025, involves integrating Karta's SafeToBuy technology into CPI's U.S. prepaid solutions. The immediate channel focus here is on the prepaid gift card market, aiming to reduce fraud by embedding security data in an EMV chip instead of printing it on the packaging.

This new channel initiative is currently in a pilot phase. CPI Card Group is piloting the program in the U.S. with a leading national retailer. The broader goal is to adapt Karta's prepaid program management platform for a full U.S. launch targeted for early 2026. CPI will serve as Karta's exclusive supplier in the U.S. for producing and personalizing these new contactless, chip-embedded gift cards. This pilot represents a clear move to extend CPI's channel beyond traditional financial institutions into the retail sector for specialized prepaid products.

Next step: Finance needs to finalize the Q4 2025 capital expenditure forecast, specifically accounting for the ramp-up at the new Fort Wayne facility, by next Tuesday.

CPI Card Group Inc. (PMTS) - Canvas Business Model: Customer Segments

You're looking at the core customer base for CPI Card Group Inc. as of late 2025, based on their recent performance and strategic focus. Honestly, the mix is shifting, with the core Debit and Credit business driving top-line growth while the Prepaid segment navigates some timing and mix challenges.

CPI Card Group Inc. serves a diverse set of clients across the payments ecosystem, generally categorized by the type of card solution they require, which aligns closely with the company's two main reporting segments: Debit and Credit, and Prepaid Debit.

Large U.S. financial institutions and national banks form the bedrock of the Debit and Credit segment. This group is responding well to CPI Card Group Inc.'s core offerings, especially as the market moves toward newer technology. For the first nine months of 2025, the Debit and Credit segment net sales increased 14% year-over-year, reaching $322.5 million. This growth is fueled by increased sales of contactless cards and the instant issuance solutions they use.

Regional banks and credit unions (primary Card@Once users) are key adopters of the Software-as-a-Service (SaaS) based instant issuance platform. The company noted that its Card@Once business delivered strong growth again in the third quarter of 2025. This segment is part of the larger Debit and Credit business, which saw its Q3 2025 net sales hit $115.3 million, up 16% from the prior year period, with Card@Once being a primary driver. The overall U.S. card market, which these institutions operate in, saw Visa and Mastercard debit and credit cards in circulation increase at a compound annual growth rate of 7% for the three years ending June 30, 2025.

Prepaid card program managers and healthcare payment providers fall primarily under the Prepaid Debit segment. While this segment saw a 7% decline in net sales in the third quarter of 2025, year-to-date performance shows resilience. For the first nine months of 2025, Prepaid Debit segment net sales were $69.3 million, representing an increase of 5% (or an 8% increase excluding an accounting change). This growth was specifically led by increased sales of healthcare payment solutions to existing customers.

Large national retailers (new vertical for closed-loop prepaid) represent a strategic expansion area for CPI Card Group Inc. The company has been advancing its strategic growth initiatives, including expansion into the closed-loop prepaid sector. While the overall Prepaid segment faced order timing impacts in Q3 2025, the focus on new customer verticals, like healthcare payment solutions, was a driver of growth in the prior full year.

Here's a quick look at how the segments contributed to the top line as of the latest reported period:

Customer/Segment Focus	Metric	Value (Latest Reported Period)
Overall Company (Q3 2025)	Net Sales	$138.0 million
Debit and Credit Segment (Q3 2025)	Net Sales	$115.3 million
Debit and Credit Segment (Q3 2025)	Year-over-Year Growth	16% increase
Prepaid Debit Segment (Q3 2025)	Net Sales Change	7% decrease
Prepaid Debit Segment (YTD 2025)	Net Sales	$69.3 million
Prepaid Debit Segment (YTD 2025)	Growth (Excluding Accounting Change)	8% increase
Card@Once Business (Q3 2025)	Performance	Strong growth
Total Employees (As of Sept 30, 2025)	Headcount	1,500

The company's customer base is serviced by a team of experienced, dedicated employees, with 1,500 total employees as of late 2025. The focus on innovation, like the Arroweye acquisition in May 2025 for $45.8 million, is aimed at better serving these segments with digitally driven, on-demand solutions.

You should keep an eye on the sales mix, as an unfavorable mix in the Debit and Credit segment impacted margins, even as sales grew. If onboarding takes 14+ days for new regional bank clients, churn risk rises, but Card@Once is designed to mitigate that with instant issuance.

• Debit and Credit segment growth driven by contactless cards and instant issuance.
• Prepaid growth tied to higher-value packaging and healthcare solutions.
• Strategic focus on expanding into the closed-loop prepaid sector.
• Large issuers show continued card and account growth.

Finance: draft 13-week cash view by Friday.

CPI Card Group Inc. (PMTS) - Canvas Business Model: Cost Structure

You're looking at the major drains on CPI Card Group Inc.'s bottom line as of late 2025. It's not just the cost of making the plastic; it's the cost of building the future production footprint and servicing the debt used to finance it all.

The overall production costs are definitely under pressure. Management indicated that tariff expenses for 2025 are expected to total approximately $5 million, though some of that impact is being shared with customer partnerships. To give you a snapshot of the quarter, Q3 2025 alone included $1.6 million in tariff expenses. This, combined with unfavorable sales mix, drove the gross profit margin down to 29.7% in Q3 2025 from 35.8% in the prior year period.

Capital expenditures are a huge factor right now, reflecting the build-out of the new secure card production facility in Indiana. For the first nine months of 2025, capital expenditures increased by $9.6 million compared to the prior year, primarily due to this facility spending. This investment is expected to lead to higher depreciation and amortization expense, with an estimated increase of approximately $3 million in 2025 impacting cost of sales.

Integration and restructuring costs are also hitting the income statement hard, especially following the May 2025 acquisition of Arroweye Solutions, Inc.. In the second quarter of 2025, net income was impacted by $3.3 million in transaction and integration costs related to the Arroweye acquisition, alongside other restructuring charges. Furthermore, the dual-facility transition, moving operations to the new Indiana site, introduced about $3 million in incremental costs for 2025.

Then there's the debt load. CPI Card Group Inc. has a significant interest expense tied to its 10% Senior Secured Notes due 2029. As of June 30, 2025, the company had $285 million of these notes outstanding before a mid-year retirement. After retiring $20 million of principal in July 2025, the outstanding balance settled at $265 million. As of June 30, 2025, the total projected principal and interest payments on all borrowings included $29.5 million of interest expected to be paid in the next 12 months. Higher interest costs, along with acquisition costs, pressured net income in Q2 2025.

Regarding raw materials, while specific chip and eco-material costs aren't itemized separately from general production costs, the commitment to sustainability is clear. CPI Card Group Inc. has sold more than 500 million eco-focused debit, credit, and prepaid card or package solutions in the U.S. market.

Here's a quick look at some of the major financial impacts shaping the cost structure:

Cost Driver Category	Specific Financial Metric/Amount	Period/Date
Tariffs (Estimated Annual Impact)	$5 million	Fiscal Year 2025 Estimate
Tariffs (Quarterly Impact)	$1.6 million	Q3 2025
Indiana Facility CapEx Increase (YTD)	$9.6 million increase	First Nine Months of 2025
Integration/Restructuring Expense	$3.3 million	Q2 2025
Dual-Facility Transition Incremental Cost	~$3 million	Fiscal Year 2025 Estimate
Senior Notes Outstanding (Post-Redemption)	$265 million	September 30, 2025
Projected Interest Payment (Next 12 Months)	$29.5 million	As of June 30, 2025

These significant expenditures are all part of the strategy to drive long-term growth and operating efficiencies, even if they create near-term margin pressure.

The key cost components you need to track closely are:

• Tariff Headwinds: The $5 million annual estimate.
• Facility Build-Out: The ongoing $9.6 million CapEx spend year-to-date.
• Integration Costs: The $3.3 million in Q2 2025 charges.
• Debt Service: Interest on the $265 million notes at 10%.

Finance: draft 13-week cash view by Friday.

CPI Card Group Inc. (PMTS) - Canvas Business Model: Revenue Streams

You're looking at how CPI Card Group Inc. actually brings in the money, which is key to understanding its valuation right now. As of late 2025, the total Trailing Twelve Month (TTM) revenue for CPI Card Group Inc. stands at $0.51 Billion USD.

The revenue streams are clearly segmented across the core card offerings and the growing technology platforms. The Debit and Credit segment remains the largest contributor to the top line. For the first nine months of 2025, this segment brought in net sales of $322.5 million, which was a 14% increase year-over-year, driven by higher sales of contactless cards and the Card@Once® instant issuance solutions, plus the addition of Arroweye. To be fair, the third quarter of 2025 alone for this segment was $115.3 million.

The Prepaid Debit segment shows a different trend. For the first nine months of 2025, net sales were $69.3 million, which was a 5% decrease year-over-year, though it was up 8% excluding an accounting change. This segment saw increased sales of higher-value packaging solutions. The third quarter of 2025 net sales for Prepaid Debit were $23.3 million.

The Software as a Service (SaaS) component, specifically from the Card@Once instant issuance platform, is a significant growth area. CPI Card Group Inc. has noted that the Card@Once business delivered strong growth, penetrating the market with its leading SaaS-based solution. This platform generates subscription/SaaS fees by simplifying implementation for customers with no ongoing server costs, as CPI implements and supports the cloud-based program. The company is also advancing its strategic growth initiatives, expecting significant benefits from digital payment solutions penetration, which are typically higher margin.

Emerging revenue is also coming from the Arroweye acquisition, which adds on-demand, zero-inventory card capabilities. While the annualized revenue from Arroweye, estimated at mid-$50M, was excluded from the main FY2025 guidance, it represents a higher-margin digital solution stream that management expects to benefit from in the coming quarters.

Here's a quick look at how the key revenue components stacked up based on the nine-month and quarterly data available through Q3 2025:

Revenue Component	Nine Months 2025 Net Sales (USD)	Q3 2025 Net Sales (USD)	Growth Driver Mentioned
Debit and Credit Segment	$322.5 million	$115.3 million	Contactless cards, Card@Once
Prepaid Debit Segment	$69.3 million	$23.3 million	Higher-value packaging solutions
Total Nine Months 2025 Net Sales	$390.5 million	N/A	10% increase YoY (excluding accounting change)
TTM Revenue (Nov 2025 Est.)	$0.51 Billion	N/A	Overall company performance

The revenue streams are characterized by a mix of high-volume physical product sales and recurring software fees. Key characteristics influencing revenue include:

• Debit and Credit segment net sales increased 14% year-to-date 2025.
• Card@Once® is a leading SaaS-based instant issuance solution.
• The company is focused on penetrating the market with digital payment solutions.
• The Arroweye business adds on-demand, zero-inventory capabilities.
• Prepaid Debit segment net sales decreased 5% year-to-date 2025.

Finance: draft 13-week cash view by Friday.