CPI Card Group Inc
For the period ended Dec 31, 2024. Filed Mar 4, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 4, 2025
PMTS$24.52+5.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(in thousands)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year Ended December 31, | ||||||
| | 2024 | 2023 | ||||
| Operating activities | | | | | | |
| Net income | $19,521 | | $23,985 | |||
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | |
| Depreciation expense | | | 12,790 | | 12,065 | |
| Amortization expense | | | 3,630 | | | 3,866 |
| Stock-based compensation expense | | | 8,545 | | 7,507 | |
| Amortization of debt issuance costs | | | 1,536 | | | 1,855 |
| Loss on early extinguishment of debt | | | 8,763 | | | 243 |
| Deferred income taxes and other, net | | | (3,935) | | (324) | |
| Changes in operating assets and liabilities: | | | | | | |
| Accounts receivable, net | | | (11,786) | | 6,795 | |
| Inventories | | | (1,990) | | (1,638) | |
| Prepaid expenses and other assets | | | (19,665) | | 2,346 | |
| Income taxes, net | | | 985 | | (1,162) | |
| Accounts payable | | | 2,762 | | (11,260) | |
| Accrued expenses and other liabilities | | | 21,512 | | (7,506) | |
| Deferred revenue and customer deposits | | | 645 | | (2,731) | |
| Cash provided by operating activities | | | 43,313 | | 34,041 | |
| Investing activities | | | | | | |
| Capital expenditures for plant, equipment and leasehold improvements, net | | | (9,257) | | (6,405) | |
| Other | | | 36 | | | 183 |
| Cash used in investing activities | | | (9,221) | | (6,222) | |
| Financing activities | | | | | | |
| Principal payments on 2026 Senior Notes | | | (267,897) | | | (16,954) |
| Proceeds from 2029 Senior Notes | | | 285,000 | | | — |
| Net proceeds from ABL Revolver | | | — | | | (5,000) |
| Payments on finance lease obligations | | | (5,221) | | | (3,871) |
| Common stock repurchased | | | (8,678) | | | (250) |
| Debt issuance costs | | | (6,583) | | | — |
| Payment for debt early redemption premium | | | (5,776) | | | — |
| Taxes withheld and paid on stock-based compensation awards | | | (3,806) | | | (368) |
| Cash used in financing activities | | | (12,961) | | (26,443) | |
| Effect of exchange rates on cash | | | — | | — | |
| Net increase in cash and cash equivalents | | | 21,131 | | 1,376 | |
| Cash and cash equivalents, beginning of period | | | 12,413 | | 11,037 | |
| Cash and cash equivalents, end of period | $33,544 | | $12,413 | |||
| Supplemental disclosures of cash flow information | | | | | | |
| Cash paid (refunded) during the period for: | | | | | | |
| Interest | $26,319 | | $25,738 | |||
| Income taxes paid | | $9,760 | | $10,462 | ||
| Income taxes refunded | | $(475) | | $(86) | ||
| Right-of-use assets obtained in exchange for lease obligations: | | | | | | |
| Operating leases | | $1,292 | | $3,091 | ||
| Financing leases | | $9,929 | | $11,285 | ||
| Accounts payable and accrued expenses for capital expenditures for plant, equipment and leasehold improvements | | $662 | | $102 | ||
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