CPI Card Group Inc.

Welcome to CPI Card Group's first quarter 2020 earnings call. My name is Carrie and I'll be your conference operator today. If you're viewing on the webcast, you may advance the slides forward by pressing the arrow buttons. The call will be open for questions after the company's remarks. If you would like to get into Q4 questions, please press star then the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Now, I would like to turn the call over to Mike Salop. Please go ahead.

Thanks, Operator. Welcome to CPI's first quarter 2026 earnings webcast and conference call. Today's date is May 5th, 2026, and on the call today from CPI Card Group are John Lowe, Resident and Chief Executive Officer, and Tara Grantham, Interim Chief Financial Officer. 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, 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 a presentation that accompanies this conference call and the Form 10-Q, are accessible on CPI's investor relations website, investor.cpicardgroup.com. On today's call, all growth rates refer to comparisons with the prior year period unless otherwise noted. The agenda for today's call can be found on slide three, and we will open the call for questions after our remarks. I'll now turn the call over to John.

Thanks, Mike. Good morning, everyone. Overall, we are off to a solid start in 2026 and are on track to achieve our full year outlook. We are executing on our initiatives to deliver on our strategy of growing the diverse find of business by helping our customers win as we expand our proprietary technology platform, grow our marketable base of relationships, and evolve our payment solutions to meet market needs. We exceeded our expectations in the first quarter, delivering 20% revenue growth, which reflected another strong contribution from ROI, as well as good growth across our other SecureCard Solutions businesses. This included strong performance from our contactless solutions, led by continued strength of contactless metal, as we emphasize our offerings of value-driven metal solutions, and increased sales of personalization services. As expected, Our prepaid solution segment had a slow start to the year, but we continue to anticipate growth for the full year. Integrated pay tech grew only slightly due to comparisons with a strong prior year quarter, and we continue to expect the segment to grow more than 15% for the full year. Adjusted EBITDA increased 9% in the quarter, and we generated strong cash flow with more than $10 million of free cash flow in the quarter. We also improved our financial position, ending the quarter with a net leverage ratio just below three times. Based on first quarter results and our current forecasts, we are affirming the four-year financial outlook we provided in March. Tara will give you more details on first quarter results in a few minutes, but first I would like to provide a brief strategic update on slide five. As I said before, we are executing on our strategy as we start 2026 and are fortunate to operate in multiple growing markets. In addition to ongoing increases in cards in circulation in the U.S. payments market, our business is supported by increased demand for digital solutions by financial institutions and an increased focus on security for prepaid cards and packages. As we discussed last quarter, our strategy is to continue providing payment technology solutions that help our customers win, driven by three primary growth pillars that underpin our value proposition. First, a proprietary technology platform with a vast reach into the U.S. payments ecosystem. Second, our marketable base of thousands of deep and broad relationships across the U.S. payments market. And third, our proven track record of delivering evolving payment solutions that reflect changing market needs. We continue to make progress on driving our strategy forward, laying more pipes to further expand our platform, expanding our marketable base of relationships, and introducing new solutions for the market, We mentioned a year in that we had locked in a new referral agreement, giving us the opportunity to significantly advance our marketable base for our integrated pay tech segment. We are excited to share that we are actively marketing our solutions with the help of Fiserv and are seeing positive customer interest. And we continue to expand our pipes on our technology platform, creating further integrations and customer connections for our digital solutions. We've also expanded our solution set by delivering for the closed loop prepaid market. seeing strong closed-loop revenue growth from Q4 2025 in the first quarter. And we continue to explore the viability of chip-embedded cards in the U.S. prepaid market, advancing our extensive pilot with a large national retailer testing cart-to-safe-to-buy technology. We believe our strategic efforts and investments will continue to drive long-term growth, expanding our addressable markets and providing the solutions needed by the market as it continues to evolve, creating value for our company and our shareholders. We'll continue to update you on progress throughout the year, but now I'd like to turn the call over to Tara to take you through the first quarter results in more detail. Tara?