What is Cimpress's latest dividend and current dividend yield?

What were the key takeaways from Cimpress's earnings call?

Did Cimpress beat or miss consensus estimates last quarter?

What does Cimpress do and what are its main business segments?

What were the key takeaways from Cimpress’s earnings call?

What is the revenue and EPS growth rate for Cimpress year over year?

What guidance did Cimpress's management provide for the next earnings period?

What is the market's earnings forecast for Cimpress next quarter?

- **Record Revenue & EBITDA Growth**: Exceeded $1B quarterly revenue, raising FY '26 EBITDA guidance to $460M (+$10M). 
- **Elevated Products Driving Margin**: 9% YoY increase in variable gross profit per customer, fueled by double-digit growth in promotional goods. 
- **Strategic Collaboration**: Deepened cross-brand partnerships to reduce costs and accelerate product introductions. 
- **M&A Pipeline Strength**: Recent $10.4M tuck-in deal exceeds 15% IRR, with pipeline opportunities poised for similar returns. 
- **Balance Sheet Health**: Reduced net leverage to 2.97x, with $258M cash and $250M undrawn credit facility.

**【CEO Summary Section】**
- Emphasized four strategic themes: elevated products driving wallet share, cross-Cimpress fulfillment (XCF) for manufacturing efficiency, shared technology for cost savings, and a strong financial future. 
- Highlighted 9% YoY growth in variable gross profit per customer, driven by elevated product categories like promotional goods and apparel. 
- Confirmed FY '28 target of $600M EBITDA, with focus on reducing OpEx and leveraging AI for customer experience improvements. 
- Announced deeper collaboration between Vista, National Pen, and BuildASign to share resources while maintaining separate brand identities. 

**【CFO Financial Commentary】**
- Q2 revenue reached $1B for the first time, with 11% reported growth and 4% organic constant currency growth. 
- Adjusted EBITDA increased by $6.6M YoY, driven by elevated products and currency benefits. 
- Raised FY '26 guidance to 7-8% revenue growth, $460M EBITDA, and $145M free cash flow. 
- Noted $10M EBITDA growth in Vista, offset by $2M hurricane-related costs and $1.5M production start-up expenses. 
- Ended Q2 with net leverage of 2.97x, down from 3.1x FY '25, and $258M cash on hand. 

**【Q&A Highlights】**
- **Holiday Performance**: Vista's North America growth offset Europe's decline, with holiday cards flat in the U.S. and double-digit growth in Canada. 
- **M&A Strategy**: Acquired an Austrian printing group for $10.4M, expecting >15% IRR. Pipeline tuck-ins align with 15% hurdle rate. 
- **Capital Allocation**: Allocated $25M to share buybacks in Q2, with potential for more in H2 if prices remain attractive. 
- **Operational Resilience**: Mitigated hurricane impact in Jamaica by shifting call volumes to other regions, with partial insurance recovery expected. 
- **AI & Commerce**: Exploring agentic commerce integration with LLMs, positioning for leadership in AI-driven customer experiences.

Cimpress plc (CMPR) Q2 2026 Earnings Call Transcript

- **Revenue Growth**: 7% reported / 4% organic growth driven by elevated products, with Vistaprint's promotional and packaging categories leading.
- **Profitability**: Adjusted EBITDA up 11% to $109M, supported by 5% gross profit growth despite margin contraction.
- **XCF Expansion**: Cross-Cimpress fulfillment revenue tripled in Q1, contributing to National Pen and BuildASign growth.
- **AI Efficiency**: 6% improvement in customer care efficiency via generative AI, with plans for further operational simplification.
- **Long-Term Targets**: FY28 EBITDA target of $600M, with $70-80M annual savings by FY27 from cost reductions and AI.

**【CEO Summary Section】**
- **Elevated Products Growth**: Vistaprint's promotional products, apparel, and packaging grew at double-digit rates YoY, with custom paper cups driving a 50% increase in average item quantity. Elevated products are expanding customer lifetime value by 5x in gross profits.
- **Cross-Cimpress Fulfillment (XCF)**: XCF contributed $15M in gross profit last year and is now a material driver for Upload & Print, National Pen, and BuildASign. Q1 saw triple-digit growth in XCF revenue across segments.
- **AI and Operational Efficiency**: Vistaprint's generative AI chatbots improved customer care efficiency by 6% YoY. Shared technology and organizational simplification are reducing operating expenses.
- **Financial Outlook**: Targeting FY28 EBITDA of $600M with $70-80M annualized EBITDA improvements by FY27, driven by cost reductions and AI adoption.

**【CFO Financial Commentary】**
- **Q1 Financials**: Consolidated revenue grew 7% (4% organic), with adjusted EBITDA up 11% to a record $109M. Gross profit grew 5%, but margins contracted 80bps due to product mix shift.
- **Vistaprint Metrics**: Variable gross profit per customer rose 7% YoY, with 90% of growth coming from top 2 customer deciles.
- **Cost Efficiency**: Advertising spend as a % of revenue declined 80bps, and tariffs had minimal impact ($<1M net).
- **Guidance**: Reiterated FY26 targets: 5-6% revenue growth, $450M+ EBITDA, and $72M+ net income. Free cash flow expected to improve sequentially.

**【Q&A Highlights】**
- **Intersegment Eliminations**: Consolidated revenue growth appears lower due to eliminations of internal cross-Cimpress sales (e.g., National Pen fulfilling for Vistaprint). Segment-level growth rates remain strong (Vista +5%, PrintBrothers +8%).
- **Holiday Season Strategy**: Focused on leveraging elevated products, improved organic search performance, and risk mitigation for postal disruptions. Last year's headwinds (tariffs, election) are less impactful this year.
- **Tax Expense**: Q1 GAAP tax rate elevated due to seasonal profitability and one-time items, but cash taxes are expected to remain stable at ~15% of EBITDA.
- **Shareholder Engagement**: Actively engaging with activist investor Spruce House and other stakeholders, prioritizing execution of long-term plans over short-term share price concerns.

Cimpress plc (CMPR) Q1 2026 Earnings Call Transcript

- **Elevated Product Growth**: 18% revenue growth in elevated categories (>$300M base) with 27% variable gross profit expansion.
- **Future Savings**: $70-80M EBITDA savings by FY '27 from $100M+ capital investments in production and customer experience.
- **FY '26 Outlook**: 5-6% revenue growth, $450M+ EBITDA, and $140M free cash flow despite 31% conversion rate due to elevated CapEx.
- **Tariff Mitigation**: $3M Q4 impact fully offset; FY '26 guidance incorporates ongoing trade policy risks.
- **LTV Focus**: Higher-value customers drive 5% contribution profit growth, offsetting legacy product declines.


**【CEO Summary Section】**
- **Transition to Elevated Products**: CEO emphasized the strategic shift from legacy products (e.g., business cards) to higher-value categories like packaging, promotional products, and apparel. Fiscal 2025 revenue for elevated products grew 18% (base >$300M), with variable gross profit up 27%.
- **Investment in Future Growth**: $70-80M annualized EBITDA savings expected by FY '27 from $100M+ capital expenditures in FY '26, targeting production efficiency and customer experience improvements.
- **Market Disruption**: Cimpress aims to consolidate the $100B+ global print market, with 60% still served by fragmented traditional suppliers. Share repurchases may continue if valuation gap persists.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: Revenue grew 4% (2% organic), with Vista's elevated products driving 4% organic growth. Adjusted EBITDA increased $3.1M YoY but declined $35.5M for the full year due to tariffs and legacy product mix shifts.
- **FY '26 Guidance**: Revenue growth 5-6% (2-3% organic), EBITDA ≥$450M, and free cash flow ~$140M. Gross margin compression (110bps) offset by $14M cost savings from FY '25 actions.
- **Tariff Mitigation**: $3M tariff impact in Q4, fully offset in June via pricing and sourcing. Exemptions remain, but risks persist with changing trade policies.

**【Q&A Key Highlights】**
- **Free Cash Flow Conversion**: CFO expects 45-50% normalization post FY '27, as elevated CapEx ($100M+ in FY '26) drives efficiency gains. FY '26 conversion rate ~31% due to higher CapEx and working capital fluctuations.
- **Legacy Product Decline**: Business cards (-6% Q4) and holiday cards/mugs (-13% FY '25) expected to continue declining, but elevated products (e.g., promotional apparel) offset this with higher LTV customers.
- **Tariff Strategy**: Pricing and sourcing mitigated $3M impact in Q4. No demand pull-forward observed, and FY '26 guidance incorporates tariff uncertainty.
- **Share Repurchases**: Net leverage target of 2.5x may allow share buybacks if valuation remains attractive, but decisions are price-dependent.


Cimpress plc (CMPR) Q4 2025 Earnings Call Transcript

- **Elevated Product Dominance**: Double-digit growth in promotional products, apparel, and packaging, accounting for over 20% of revenue.
- **Tariff Mitigation Progress**: China sourcing reduced to $20M annually, with 145% tariffs adding $30M in costs. 3PS exposure being addressed through alternative sourcing.
- **Financial Resilience**: Q3 EBITDA decline driven by one-time charges, with gross profit improving excluding these items. Q4 cash flow expected to increase despite tariffs.
- **Capital Allocation Focus**: Share buybacks paused due to tariff uncertainty; FY26 CapEx decisions pending. Long-term focus on high-value customer growth and scale advantages.

**【CEO Summary Section】**
- **Elevated Product Growth**: Promotional products, apparel, signage, packaging, and labels grew at double-digit rates, with new customers in signage, packaging, and labels increasing over 10% YoY.
- **Cross-Cimpress Fulfillment**: Pixartprinting's U.S. facility is operational, enabling lower-cost production and new product introductions. The U.S. Upload and Print website launch is imminent.
- **Tariff Challenges**: 20% of revenue exposed to tariffs, primarily in PPAG (promotional products, apparel, gifts). Teams are implementing mitigation strategies, including alternative sourcing and price adjustments.
- **Long-Term Strategy**: Focus on high-value customers and scale-based advantages to offset legacy product declines.

**【CFO Financial Commentary】**
- **Revenue Performance**: Consolidated revenue grew 1% (3% organic, constant currency). Vista saw 3% organic growth, driven by elevated products, while U.S. business cards/stationery declined 3% YoY.
- **Profitability**: Adjusted EBITDA declined $3.5M YoY due to $2.6M impairment charge and $1.1M Pixartprinting startup costs. Gross profit marginally increased excluding these items.
- **Tariff Impact**: Direct China sourcing exposure reduced to $20M annually post-mitigation, with 145% tariffs expected to add ~$30M in costs. 3PS (third-party supplier) exposure remains unquantified but manageable through price adjustments.
- **Liquidity**: Q4 is seasonally high for cash flow, with plans to increase liquidity despite near-term tariff impacts.
- **Capital Allocation**: Prioritizes organic growth, debt reduction, and share buybacks at attractive prices ($40-$45 range). FY26 CapEx decisions pending clarity on tariff environment.

**【Q&A Key Highlights】**
- **Tariff Mitigation**: 90% of Canada/Mexico-sourced products exempt from tariffs. China PPAG exposure reduced to $20M annually, with plans to shift sourcing to Southeast Asia. Price increases partially offset costs, with minimal demand impact observed.
- **April Trends**: April revenue stable vs. March, with holiday timing distortions. Europe growth offset U.S. legacy product declines.
- **National Pen Performance**: Mail-order ad reductions拖累增长，但跨境履行和欧洲增长部分抵消影响。
- **Share Buybacks**: Halted in Feb/March due to tariff uncertainty. Resumption contingent on visibility and liquidity levels. Long-term leverage target of 2.5x net debt/EBITDA remains, though current deleveraging pace slower than planned.
- **Competitive Position**: Elevated products offer higher lifetime value and retention, despite lower gross margins. Focus on total gross profit vs. margin percentage.


Cimpress plc (CMPR) Q3 2025 Earnings Call Transcript

- **Q2 Miss**: U.S. consumer product underperformance (-$34M EBITDA) due to ad cost spikes (+50%) and holiday demand shortfall.
- **H2 Recovery Plan**: 4%+ revenue growth, $220M EBITDA target, driven by signage and cross-Cimpress fulfillment.
- **Tariff Risk Mitigation**: 40% of production in Mexico/Canada; contingency plans to shift to U.S. facilities.
- **Share Buybacks**: 1.6M shares reduced YoY; no material H2 repurchases planned.

**【CEO Opening Remarks】**
- Q2 results fell short of expectations due to U.S. market challenges, including higher ad costs and competitor discounting.
- Emphasized long-term strategic focus on high-margin product categories (e.g., packaging, signage) and new business models like Upload & Print.
- Confident in returning to pre-outlined financial trajectory post-Q2 turbulence.

**【CFO Financial Highlights】**
- Revenue grew 2% YoY (both reported and organic), but adjusted EBITDA declined $34M due to U.S. consumer product underperformance.
- Key drivers of weakness: holiday card demand decline, higher ad spend (+50% in peak weeks), and operational inefficiencies.
- H2 guidance: 4%+ revenue growth, $220M+ EBITDA, $50M+ free cash flow.

**【Q&A Key Themes】**
1. **U.S. Market Challenges**: Higher ad costs (+50% in peak weeks), competitor discounting, and shorter holiday season drove Vista consumer revenue decline.
2. **Business Card Outlook**: Slow multiyear decline expected, with Q2 impact from Google algorithm changes.
3. **Tariff Scenario Planning**: 40% of North American production in Mexico/Canada; contingency plans include shifting production to U.S. facilities.
4. **Share Repurchases**: 1.6M shares reduced YoY; no material buybacks expected in H2 due to debt reduction focus.


CMPR

CMPR fundamentals

Earnings Call

You can ask Aime