CPI Card Group Inc. (NASDAQ:PMTS) Q3 2023 Earnings Conference Call November 7, 2023 9:00 AM ET

Company Participants

Mike Salop - Head, IR

Scott Scheirman - President and CEO

John Lowe - EVP, End-to-End Payment Solutions

Jeff Hochstadt - CFO

Conference Call Participants

Jaeson Schmidt - Lake Street

Hal Goetsch - B. Riley Securities

Operator

Welcome to CPI Card Group's Third Quarter 2023 Earnings Call. My name is Chris, and I'll be your operator today. [Operator Instructions].

Now I'd like to turn the call over to Mike Salop, CPI's Head of Investor Relations.

Mike Salop

Thanks, operator, and good morning, everyone. Welcome to the CPI Card Group third quarter 2023 earnings webcast and conference call. Today's date is November 7, 2023, and on the call today from CPI Card Group are Scott Scheirman, President and Chief Executive Officer; Jeff Hochstadt, Chief Financial Officer; and John Lowe, Executive Vice President, End-to-End Payment Solutions.

Before we begin, I'd like to remind everyone that this call may contain forward-looking statements as they are defined under the Private Securities Litigation Reform Act of 1995. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements.

For discussion of such risks and uncertainties, please see CPI Card Group's most recent filings with the SEC. All forward-looking statements made today reflect our current expectations only, and we undertake no obligation to update any statements to reflect the events that occur after this call.

Also, during the course of today's call, the company will be discussing one or more non-GAAP financial measures, including, but not limited to, EBITDA, adjusted EBITDA, adjusted EBITDA margin, net leverage ratio and free cash flow. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are included in the press release and slide presentation we issued this morning. Copies of today's press release as well as the presentation that accompanies this conference call are accessible on CPI's Investor Relations website, investor.cpicardgroup.com. In addition, CPI's Form 10-Q for the quarter ended September 30, 2023, will be available on CPI's Investor Relations website. On today's call, all growth rates refer to comparisons with the prior year period, unless otherwise noted.

And now I'd like to turn the call over to President and Chief Executive Officer, Scott Scheirman.

Scott Scheirman

Thanks, Mike, and good morning, everyone.

During today's call, I will give a brief business and strategic overview. John will discuss CPI's third quarter performance and our updated outlook for the full year, and then Jeff will review the financial results in more detail before we open up the call for questions.