Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting

Schedule of revenue and EBITDA of the company's reportable segments

	Year Ended December 31, 2023
	Debit and Credit		Prepaid Debit		Other		Intersegment Eliminations		Total
Net sales	$	361,057	$	84,237	$	—	$	(747)	$	444,547
Cost of sales		234,281		55,524		—		(747)		289,058
Gross profit		126,776		28,713		—		—		155,489
Operating expenses		31,870		3,786		58,243		—		93,899
Income (loss) from operations	$	94,906	$	24,927	$	(58,243)	$	—	$	61,590
EBITDA by segment:
Income (loss) from operations	$	94,906	$	24,927	$	(58,243)	$	—	$	61,590
Depreciation and amortization		9,025		2,860		4,046		—		15,931
Other income (expenses)		29		(1)		(243)		—		(215)
EBITDA	$	103,960	$	27,786	$	(54,440)	$	—	$	77,306

	Year Ended December 31, 2022
	Debit and Credit		Prepaid Debit		Other		Intersegment Eliminations		Total
Net sales	$	390,559	$	86,136	$	—	$	(950)	$	475,745
Cost of sales		246,345		54,583		—		(950)		299,978
Gross profit		144,214		31,553		—		—		175,767
Operating expenses		34,169		5,976		56,492		—		96,637
Income (loss) from operations	$	110,045	$	25,577	$	(56,492)	$	—	$	79,130
EBITDA by segment:
Income (loss) from operations	$	110,045	$	25,577	$	(56,492)	$	—	$	79,130
Depreciation and amortization		8,440		2,310		4,136		—		14,886
Other income (expenses)		(7)		(43)		(317)		—		(367)
EBITDA	$	118,478	$	27,844	$	(52,673)	$	—	$	93,649

Schedule of reconciliation of total segment EBITDA to income before taxes

	December 31,
	2023		2022
Net income	$	23,985	$	36,540
Interest, net		26,913		29,616
Income tax expense		10,477		12,607
Depreciation and amortization		15,931		14,886
EBITDA	$	77,306	$	93,649

Schedule of total assets of the company's reportable segments

	December 31,
	2023		2022
Debit and Credit	$	235,680	$	238,610
Prepaid Debit		38,265		38,138
Other		19,738		19,918
Total assets	$	293,683	$	296,666

Total capital expenditures of the Company's reportable segments

	December 31,
	2023		2022
Debit and Credit	$	5,116	$	15,283
Prepaid Debit		963		2,309
Other		326		275
Total company capital expenditures	$	6,405	$	17,867

Schedule of net sales from product and services sold by the company

	December 31,
	2023		2022
Product net sales(1)	$	249,354	$	281,190
Services net sales(2)		195,193		194,555
Total net sales	$	444,547	$	475,745

(1) “Products” net sales include the design and production of Financial Payment Cards in contact-EMV, contactless EMV, metal, contactless and magnetic stripe card formats. The Company also generates “Products” revenue from the sale of Card@Once printers and consumables, private label credit cards and retail gift cards.

(2) “Services” net sales include revenue from the personalization and fulfillment of Financial Payment Cards, providing tamper-evident security packaging and fulfillment services to Prepaid Debit Card program managers and SaaS personalization of instant issuance cards.