Cimpress(CMPR)

Search documents
Cimpress(CMPR) - 2025 Q4 - Annual Report
2025-08-08 17:29
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________ Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-51539 _________________________________ Cimpress plc (Exact Name of Registrant as Specified in Its Char ...
Cimpress Q4 Earnings Miss Estimates, Revenue Increase Y/Y
ZACKS· 2025-07-30 16:15
Core Insights - Cimpress plc (CMPR) reported a fourth-quarter fiscal 2025 adjusted loss of $1.02 per share, missing the Zacks Consensus Estimate of earnings of 97 cents per share, compared to adjusted earnings of $4.33 per share in the same quarter last year [1][10] Revenue Performance - Total revenues for the quarter were $869.5 million, reflecting a 4.4% increase year-over-year, and beating the Zacks Consensus Estimate of $844 million [2][10] - Organic constant-currency revenue growth was 2% year-over-year, driven by growth across all business segments [2] Segment Analysis - The National Pen segment generated revenues of $93.6 million, up from $83.6 million in the year-ago quarter, exceeding the estimate of $84 million [3] - The Vista segment, the largest revenue generator, reported revenues of $466.4 million compared to $442.1 million in the prior year, surpassing the estimate of $452.6 million [3] - The Upload and Print segment's revenues increased to $284.2 million from $266.9 million, with PrintBrothers generating $178.2 million and The Print Group $106 million, both exceeding estimates [4] - Revenues from All Other Businesses were $58.8 million, up from $53.7 million, also beating the estimate of $55.9 million [5] Margin and Cost Analysis - Cimpress' cost of revenues was $456.7 million, a 6.6% increase year-over-year, while marketing and selling expenses decreased by 0.7% to $193 million [6] - General and administrative expenses rose to $59.1 million from $54.3 million in the previous year [6] - Gross profit increased by 2.2% year-over-year to $413 million, with a margin of 47%, down 200 basis points from the previous year [7] - Adjusted EBITDA increased by 3% year-over-year to $122.4 million [7] Balance Sheet and Cash Flow - As of June 30, 2025, Cimpress had $234 million in cash and cash equivalents, up from $203.8 million at the end of the previous fiscal year [8] - Long-term debt was reported at $1.58 billion, a 1% decrease from the previous year [8] - Net cash provided by operating activities was $107.5 million, down from $125.1 million in the year-ago quarter, with share repurchases totaling $20.8 million during the quarter [9] Future Outlook - For fiscal 2026, Cimpress expects revenue growth of 5-6% on a reported basis and 2-3% on an organic constant-currency basis, with net income projected to be at least $72 million [11] - Adjusted EBITDA is anticipated to be at least $450 million, with cash from operating activities expected to be around $310 million and adjusted free cash flow of $140 million [11] - The company aims to reduce net leverage to 2.5x trailing-12-month EBITDA over time [12]
Cimpress(CMPR) - 2025 Q4 - Earnings Call Transcript
2025-07-30 13:00
Financial Data and Key Metrics Changes - Consolidated Q4 revenue grew 4% on a reported basis and 2% on an organic constant currency basis, with full-year growth of 3% on both reported and constant currency bases [11] - Adjusted EBITDA increased by $3.1 million year over year but declined by $35.5 million for the full year [14] - Gross profit dollars grew year over year in Q4 despite a 110 basis points gross margin compression [15] Business Line Data and Key Metrics Changes - At Vista, organic constant currency revenue grew 4% for the quarter, driven by strength in promotional products, apparel, gifts, signage, packaging, and labels [12] - Revenue in the promotional products, apparel, and gifts category grew 18% for the full fiscal year, with variable gross profit in that category growing 27% [13] - Business cards declined 6% during Q4, reflecting a shift from legacy products to higher value elevated products [12][13] Market Data and Key Metrics Changes - Organic constant currency revenue growth in European markets was strong at 7% for Q4, while North America improved sequentially to 3% [12] - The total addressable market in Europe, North America, and Australia exceeds $100 billion annually, with over 60% still served by traditional suppliers [9] Company Strategy and Development Direction - The company is transitioning to product categories like packaging, promotional products, and apparel, which are expected to offset the maturation of legacy products [5][6] - Investments in manufacturing, new product introductions, and improved customer experience are aimed at capturing market opportunities [6][10] - The company aims to close the equity valuation gap through revenue and profit growth, rigorous capital allocation, and share repurchases [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by the transition in product categories but remains optimistic about future growth in gross profit dollars and customer lifetime value [5][10] - Guidance for fiscal 2026 includes expected revenue growth of 5% to 6% and adjusted EBITDA of at least $450 million, factoring in startup costs and capital expenditures [19] Other Important Information - The company expects to achieve annualized savings of $14 million from cost reduction actions implemented in the latter half of fiscal 2025 [19] - Currency fluctuations had a $3.6 million benefit to adjusted EBITDA during the quarter, primarily due to the strengthening of the euro [15] Q&A Session Summary Question: FY '26 guidance implies free cash flow conversion of EBITDA at 31%. When should free cash flow conversion return to the 45% to 50% level? - Management expects the 45% to 50% conversion rate to be achievable in a normalized environment, but fiscal '26 will not reflect that due to higher CapEx and working capital fluctuations [21][26] Question: What is the go-forward revenue growth expectation for legacy and elevated products? - Management does not provide specific growth rates but anticipates continued decline in legacy products while expecting growth in elevated products [28][30] Question: Is the 2% to 3% FX adjusted growth rate expected for FY '26 the new steady state growth rate? - Management aspires to return to mid-single-digit growth rates over time, driven by execution in elevated products and high-value customers [36] Question: Has maintenance CapEx increased due to recent investments? - Maintenance CapEx has increased due to specific factors, but it is not solely a result of recent investments [39][42] Question: What is the risk that the informational product exemption ends? - There is some risk associated with the informational materials exclusion, but the company has a significant percentage of coverage under USMCA [50][52] Question: Do you think there was a pull forward in demand during Q4 due to tariffs? - Management has not seen indications of a pull forward in demand related to tariffs [54] Question: Can you explain the other income net line item and the impact of derivative contracts? - The company has an active currency hedging program that results in unrealized gains or losses, which can affect earnings but is expected to balance out over time [60][62]
Compared to Estimates, Cimpress (CMPR) Q4 Earnings: A Look at Key Metrics
ZACKS· 2025-07-29 23:31
Core Insights - Cimpress reported revenue of $869.48 million for the quarter ended June 2025, marking a year-over-year increase of 4.4% and a surprise of +2.96% over the Zacks Consensus Estimate of $844.46 million [1] - The company experienced an EPS of -$1.02, a significant decline compared to $4.33 a year ago, resulting in an EPS surprise of -205.15% against the consensus estimate of $0.97 [1] Revenue Breakdown - Revenue from Vista was $466.45 million, exceeding the average estimate of $454.02 million by two analysts, representing a year-over-year change of +5.6% [4] - Inter-segment eliminations reported a revenue of -$33.66 million, worse than the estimated -$27.04 million, but showing a +116.8% change compared to the year-ago quarter [4] - Revenue from All Other Businesses was $58.79 million, slightly above the estimated $55.91 million, reflecting a +7.6% year-over-year change [4] - National Pen generated revenue of $93.64 million, surpassing the average estimate of $83.49 million, with a year-over-year increase of +11.2% [4] Stock Performance - Cimpress shares have returned +5.5% over the past month, outperforming the Zacks S&P 500 composite's +3.6% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]
Cimpress (CMPR) Reports Q4 Loss, Tops Revenue Estimates
ZACKS· 2025-07-29 22:36
Company Performance - Cimpress reported a quarterly loss of $1.02 per share, missing the Zacks Consensus Estimate of $0.97, and a significant decline from earnings of $4.33 per share a year ago, representing an earnings surprise of -205.15% [1] - The company posted revenues of $869.48 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 2.96%, and showing an increase from year-ago revenues of $832.61 million [2] - Over the last four quarters, Cimpress has not surpassed consensus EPS estimates, and it has topped consensus revenue estimates twice during this period [2] Stock Outlook - Cimpress shares have declined approximately 30.9% since the beginning of the year, contrasting with the S&P 500's gain of 8.6% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The estimate revisions trend for Cimpress was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Future Earnings Expectations - The current consensus EPS estimate for the upcoming quarter is $0.69 on revenues of $847.56 million, and for the current fiscal year, it is $2.95 on revenues of $3.49 billion [7] - The outlook for the Consumer Services - Miscellaneous industry, where Cimpress operates, is currently in the bottom 22% of over 250 Zacks industries, which may negatively impact stock performance [8]
Cimpress(CMPR) - 2025 Q4 - Annual Results
2025-07-29 20:10
Cimpress delivered solid Q4 FY2025 financial results against a difficult tariff and trade backdrop. Importantly, we nade great strategic progress throughout FY2025 as I discuss in detail in our annual letter to investors, also published today and available at ir.cimpress.com. Summary financial results for Q4 FY2025 compared to Q4 FY2024: e 7 GYM SISTERS RAND OPENY { war 1-97 GYM Herbar figh GYM O Orants ISTERS CYM STERS STERS a = CITY & 1.227 <> cımpress Q4 & Fiscal Year 2025 Quarterly Earnings Document Jul ...
3 Industrials Stocks Standing Out for Growth and Analyst Optimism
MarketBeat· 2025-06-04 12:48
Core Insights - The industrials sector has been a top performer in 2025, with the Industrial Select Sector SPDR Fund (XLI) returning nearly 9% year-to-date, significantly outperforming the S&P 500 [1] - The Trump administration's focus on boosting domestic manufacturing is contributing to a positive outlook for industrial companies [1] Company Summaries Nordson Corporation (NASDAQ: NDSN) - Nordson's stock has a 12-month price forecast of $253.17, indicating a potential upside of 19.24% from the current price of $212.31 [3][6] - The company reported adjusted earnings per share of $2.42, exceeding analyst expectations by $0.06, with revenue increasing by 5% year-over-year to $683 million [4] - Nordson's strong performance is supported by a 5% growth in backlog and positive forecasts for the third quarter, with expected adjusted EPS between $2.55 and $2.75 [5] VSE Corporation (NASDAQ: VSEC) - VSE's stock forecast suggests a 12-month price target of $125.17, reflecting a downside of 4.72% from the current price of $131.37 [8] - The company has transitioned to focus solely on aviation, recently acquiring Turbine Weld Industries to enhance its maintenance, repair, and overhaul services [9][10] - VSE's shares have surged 40% year-to-date, driven by strategic repositioning in the high-demand aviation sector [8] Cimpress plc (NASDAQ: CMPR) - Cimpress has a 12-month stock price forecast of $62.50, indicating a potential upside of 40.29% from the current price of $44.55 [12] - The company is shifting towards "elevated products" such as apparel and packaging, which aligns with recent sales growth trends [13] - Despite a nearly 38% decline year-to-date, Cimpress has seen a 9% increase in the last month, suggesting potential recovery [12]
Cimpress (CMPR) Up 12.3% Since Last Earnings Report: Can It Continue?
ZACKS· 2025-05-30 16:37
A month has gone by since the last earnings report for Cimpress (CMPR) . Shares have added about 12.3% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Cimpress due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.How Have Estimates Been Moving Since Then?It turns out, fre ...
Cimpress(CMPR) - 2025 Q3 - Quarterly Report
2025-05-01 21:35
Revenue Performance - Revenue increased by 1% to $789.5 million for the third quarter of fiscal year 2025, with organic constant-currency revenue growth of 3%[144] - Year-to-date revenue increased by 3% to $2,533.6 million, with organic constant-currency revenue growth of 4%[144] - Total revenue for the three months ended March 31, 2025, was $789,468,000, representing a 1% increase compared to $780,588,000 in the same period of 2024[153] - For the nine months ended March 31, 2025, total revenue reached $2,533,596,000, a 3% increase from $2,459,245,000 in the prior year[153] - Vista segment revenue for the three months ended March 31, 2025, was $430,651,000, a 3% increase year-over-year, with a constant-currency revenue growth of 4%[153] - PrintBrothers segment revenue increased by 4% to $155,981,000 for the three months ended March 31, 2025, with a constant-currency revenue growth of 6%[153] - Reported revenue for the segment "All Other Businesses" was $51.1 million for the three months ended March 31, 2025, representing a 5% increase compared to $48.5 million in the same period of 2024[201] Profitability and Income - Operating income for the third quarter increased by $1.3 million to $40.5 million, while year-to-date operating income decreased by $20.2 million to $160.8 million[144][147] - Net loss for the third quarter increased by $2.8 million to $8.0 million, and net income for the year-to-date decreased by $18.4 million to $41.2 million[144][148] - Adjusted EBITDA decreased by $3.5 million to $90.7 million for the third quarter, and by $38.6 million to $310.7 million year-to-date[144] - Segment EBITDA for Vista decreased by 6% to $247,370,000 for the nine months ended March 31, 2025, compared to $263,282,000 in the prior year[183] - PrintBrothers' segment EBITDA decreased by 8% to $61,218,000 for the nine months ended March 31, 2025, down from $66,237,000 in the previous year[187] - Adjusted EBITDA for the three months ended March 31, 2025, was $90.7 million, compared to $94.2 million for the same period in 2024, reflecting a decrease of approximately 5.0%[234] - Adjusted EBITDA for the nine months ended March 31, 2025, was $310.7 million, down from $349.3 million in 2024, reflecting a decrease of approximately 11.0%[234] Cash Flow and Financial Position - Cash provided by operating activities decreased by $35.0 million to $190.6 million year-to-date[144] - Adjusted free cash flow decreased by $67.1 million to $77.2 million for the nine months ended March 31, 2025[144] - Net cash provided by operating activities was $190.6 million for the nine months ended March 31, 2025, down from $225.6 million in the prior year[210] - The company had $183.0 million in cash and cash equivalents and $1.6 billion in debt as of March 31, 2025[214] - The company repurchased 714,667 ordinary shares for $56.9 million during the nine months ended March 31, 2025[215] - Total contractual obligations as of March 31, 2025, amounted to $2.6 billion, with significant commitments in operating leases and purchase commitments[220] Expenses and Costs - Cost of revenue for the three months ended March 31, 2025, was $416,960,000, which is 52.8% of total revenue, up from 51.8% in the prior year[161] - Marketing and selling expenses increased by $1.7 million for the three months ended March 31, 2025, driven by higher advertising spend[168] - General and administrative expenses decreased by $3.7 million for the three months ended March 31, 2025, primarily due to lower share-based compensation costs[171] - Central and corporate costs decreased by $4.6 million for the three months ended March 31, 2025, primarily due to lower share-based compensation expenses[207] - The company recognized a $2.6 million impairment charge during the current quarter related to the planned sale of a facility by the National Pen business[162] Tax and Interest - Income tax expense for the three months ended March 31, 2025, increased to $12,144,000, up from $10,610,000 in the prior year, with an effective tax rate of 294.5%[179] - Interest expense, net decreased by $3.2 million for the three months ended March 31, 2025, primarily due to a decrease in the weighted average interest rate on senior secured Term Loan B[177] Market and Economic Factors - The company expects to raise prices to offset tariff costs, particularly in the promotional products, apparel, and gifts industry[140][139] - The annual value of PPAG sourcing from China subject to tariffs is estimated to be less than $20 million after supply chain changes[139] - The company experienced a negative impact of $15.6 million from currency exchange rate fluctuations for the three months ended March 31, 2025[158] - Currency-related net gains and losses were significantly impacted by exchange rate volatility, with expectations of continued volatility in future periods[175] - A hypothetical 100 basis point increase in interest rates would result in an $8.4 million increase in interest expense over the next 12 months[238] - A hypothetical 10% decrease in currency exchange rates would have resulted in a $14.9 million change in income before income taxes for the three and nine months ended March 31, 2025[242] Other Financial Information - The company recognized a $2.9 million charge for a land duty tax in Australia during the nine months ended March 31, 2025, contributing to an increase in central and corporate costs[209] - The 2032 Senior Notes issued by the company amount to $525.0 million, bearing interest at 7.375% per annum, maturing on September 15, 2032[225] - The company executed interest rate swap contracts to mitigate exposure to interest rate changes related to its variable-rate debt[238] - The company’s adjusted free cash flow measure does not include cash payments for debt reduction or business acquisitions, which may limit its representation of available discretionary expenditures[233]
Cimpress Lags Q3 Earnings & Revenue Estimates, Withdraws '25 Guidance
ZACKS· 2025-05-01 17:30
Core Insights - Cimpress plc (CMPR) reported an adjusted loss of 33 cents per share for Q3 fiscal 2025, missing the Zacks Consensus Estimate of earnings of 55 cents, and compared to an adjusted loss of 15 cents per share in the same quarter last year [1] - Total revenues for the quarter were $789.5 million, a 1% increase from $780.6 million year-over-year, but below the Zacks Consensus Estimate of $798 million [1] Revenue Breakdown - The National Pen segment generated revenues of $88.3 million, slightly down from $88.6 million in the year-ago quarter, and below the estimate of $91 million [2] - The Vista segment, the largest revenue generator, reported revenues of $430.7 million, up from $418.1 million year-over-year, but slightly below the estimate of $432 million [2] - The Upload and Print segment's revenues increased to $245.3 million from $237.8 million in the year-ago quarter, exceeding the estimate of $245 million [3] - Revenues from All Other Businesses were $51.1 million, compared to $48.8 million reported a year ago, and above the estimate of $49.8 million [4] Margin and Cost Analysis - Cimpress' cost of revenues was $417 million, reflecting a 3% year-over-year increase [5] - Gross profit decreased by 0.8% year-over-year to $373 million, with a margin of 47%, down 100 basis points from the previous year [6] - Adjusted EBITDA fell 3.7% year-over-year to $90.7 million [6] Balance Sheet and Cash Flow - As of March 31, 2024, Cimpress had $183 million in cash and cash equivalents, down from $203.8 million at the end of Q4 fiscal 2024 [7] - Long-term debt was $1.58 billion, slightly down from the previous quarter [7] - Net cash provided by operating activities was $9.7 million, an increase from $8.4 million in the year-ago quarter, with share repurchases totaling $3.9 million during the quarter [8] Outlook - The company has withdrawn its previously issued guidance for fiscal 2025 due to uncertainties in the tariff environment and its potential impact on costs and market demand [9]