CPI Card (PMTS) 10-Q/A 22 Dec 15 2015 Q3 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 23, 2015
Document and Entity Information
Entity Registrant Name	CPI Card Group Inc.
Entity Central Index Key	1,641,614
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		56,476,116
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 15,858	$ 12,941
Accounts receivable, net of allowances of $561 and $272, respectively	53,530	43,548
Inventories	27,096	21,605
Prepaid expenses and other current assets	3,660	4,129
Income taxes refundable	6,264
Deferred income taxes	502	634
Current assets of a discontinued operation		5,862
Total current assets	106,910	88,719
Plant, equipment and leasehold improvements, net	49,834	44,772
Intangible assets, net	55,186	58,703
Goodwill	73,355	73,801
Other assets	4,026	15
Total assets	289,311	266,010
Current liabilities:
Accounts payable	19,611	16,276
Accrued expenses	14,512	10,591
Deferred revenue and customer deposits	3,702	3,382
Current maturities of long-term debt	13,350	6,326
Income taxes payable		13
Total current liabilities	51,175	36,588
Long-term debt, net of current maturities	413,139	163,484
Sellers Note		9,000
Deferred income taxes	24,956	13,810
Other long-term liabilities	7,854	6,572
Total liabilities	$ 497,124	$ 229,454
Commitments and contingencies
Series A Preferred Stock; $0.001 par value - 100,000 shares authorized; 86,407 shares issued and 2,576 shares outstanding and 86,407 shares issued and 64,809 shares outstanding; liquidation preference of $11,783 and $256,017 at September 30, 2015 and December 31, 2014, respectively	$ 2,304	$ 58,250
STOCKHOLDERS' DEFICIT
Common Stock; $0.001 par value - 100,000,000 shares authorized; 45,032,240 shares issued and 41,476,116 shares outstanding and 44,840,576 shares issued and 41,371,220 shares outstanding at September 30, 2015 and December 31, 2014, respectively	2	2
Additional paid in capital	(245,267)	(24,802)
Accumulated earnings	38,955	5,798
Accumulated other comprehensive loss	(3,807)	(2,584)
Notes receivable from employees	0	(108)
Total stockholders' deficit	(210,117)	(21,694)
Total liabilites and stockholders' deficit	$ 289,311	$ 266,010

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance on accounts receivable	$ 561	$ 272
Preferred shares, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred shares, authorized shares (in shares)	100,000	100,000
Preferred shares, issued shares (in shares)	86,407	86,407
Preferred shares, outstanding shares (in shares)	2,576	64,809
Preferred shares liquidation preference	$ 11,783	$ 256,017
Common shares, par value (in dollars per share)	$ 0.001	$ 0.001
Common shares, authorized shares (in shares)	100,000,000	100,000,000
Common shares, issued shares (in shares)	45,032,240	44,840,576
Common shares, outstanding shares (in shares)	41,476,116	41,371,220

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net sales:
Products	$ 65,567	$ 43,267	$ 178,338	$ 102,172
Services	42,130	34,107	102,205	70,969
Total net sales	107,697	77,374	280,543	173,141
Cost of sales:
Products (exclusive of depreciation and amortization shown below)	35,520	28,986	108,322	74,670
Services (exclusive of depreciation and amortization shown below)	26,813	19,443	60,742	39,878
Depreciation and amortization	2,315	2,282	7,087	6,132
Total cost of sales	64,648	50,711	176,151	120,680
Gross Profit	43,049	26,663	104,392	52,461
Operating expenses:
Selling, general and administrative (exclusive of depreciation and amortization shown below)	14,485	12,017	41,175	26,515
Depreciation and amortization	1,503	933	4,771	2,697
Restructuring charges (see note 1)	681		681
Total operating expenses	16,669	12,950	46,627	29,212
Income from operations	26,380	13,713	57,765	23,249
Other income (expense):
Interest, net	(4,624)	(1,947)	(8,129)	(5,391)
Foreign currency (loss) gain	(34)	235	115	24
Loss on debt modification and early extinguishment	(703)	(476)	(703)	(476)
Other income (expense), net	295	(6)	356	13
Total other expense, net	(5,066)	(2,194)	(8,361)	(5,830)
Income before income taxes	21,314	11,519	49,404	17,419
Provision for income taxes	(6,554)	(4,751)	(16,528)	(7,084)
Net income from continuing operations	14,760	6,768	32,876	10,335
Discontinued operation (see note 3):
Income (loss) from a discontinued operation, net of taxes		699	(606)	(2,064)
Gain on sale of a discontinued operation, net of taxes			887
Net Income	14,760	7,467	33,157	8,271
Other Comprehensive Income
Currency translation adjustment	(878)	(677)	(1,224)	(374)
Total comprehensive income	13,882	6,790	31,933	7,897
Earnings (loss) per share
Net income from continuing operations	14,760	6,768	32,876	10,335
Preferred stock dividends	(7,096)	(10,692)	(32,454)	(31,672)
Income (loss) from continuing operations attributable to common stockholders	7,664	(3,924)	422	(21,337)
Income (loss) from a discontinued operation, net of taxes		699	281	(2,064)
Net income (loss) available to common shareholders	$ 7,664	$ (3,225)	$ 703	$ (23,401)
Basic earnings (loss) per share:
Continued operations	$ 0.19	$ (0.10)	$ 0.01	$ (0.52)
Discontinued operation		0.02	0.01	(0.05)
Earnings per share basic	0.19	(0.08)	0.02	(0.57)
Diluted earnings (loss) per share:
Continued operations	0.19	(0.10)	0.01	(0.52)
Discontinued operation		0.02	0.01	(0.05)
Earnings per share diluted	$ 0.19	$ (0.08)	$ 0.02	$ (0.57)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities
Net income	$ 33,157	$ 8,271
Adjustments, Noncash Items, to Reconcile Net Income to Cash Provided by Operating Activities
Depreciation, amortization and accretion expense	12,475	10,631
Non-cash accretion of defined stock compensation plan	2,137	2,013
Loss on debt modification and early extinguishment	703	476
Loss on sale of a discontinued operation, before tax	1,039
Deferred income tax	11,304
Loss on disposal of fixed assets	1,290	77
Unrealized foreign currency exchange gain	(151)	(7)
Changes in operating assets and liabilities:
Accounts receivable	(13,045)	(26,069)
Inventories	(5,719)	(9,553)
Prepaid expenses and other current assets	(1,130)	(2,138)
Income taxes	(6,264)	5,132
Accounts payable	1,893	10,347
Accrued expenses	4,057	2,470
Deferred revenue and customer deposits	3,207	2,768
Other liabilities	(523)	(2,115)
Cash provided by operating activities	44,430	2,303
Investing activities
Proceeds from sale of a discontinued operation	5,000
Acquistion of EFT Source, Inc, net of cash		(53,882)
Acquisitions of plant, equipment and leasehold improvements	(13,866)	(12,676)
Cash used in investing activities	(8,866)	(66,558)
Financing activities
Payment of long-term debt	(170,929)	(9,408)
Proceeds from long-term debt	435,000	60,000
Proceeds from line of credit		11,300
Loan issuance costs	(17,773)	(440)
Repayment of employee note receivable	108
Dividend distribution	(220,742)
Payment of deferred IPO cost	(2,138)
Redemption of preferred and common stock	(55,992)
Cash (used in) provided by financing activities	(32,466)	61,452
Effect of exchange rates on cash	(181)	7
Net increase (decrease) in cash and cash equivalents:	2,917	(2,796)
Cash and cash equivalents, beginning of period	12,941	9,702
Cash and cash equivalents, end of period	$ 15,858	$ 6,906

Business Overview and Summary o

Business Overview and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Business Overview and Summary of Significant Accounting Policies
Business Overview and Summary of Significant Accounting Policies	CPI Card Group Inc. and Subsidiaries Notes to Condensed Consolidated Financial Statements (Dollars in Thousands, Except Share and Per Share Amounts or as Otherwise Indicated) (Unaudited) 1. Business Overview and Summary of Significant Accounting Policies Business Overview CPI Card Group Inc. (which, together with its subsidiaries, is referred to herein as “CPI” or the “Company”) is a leading provider of comprehensive Financial Payment Card solutions in North America. The Company defines Financial Payment Cards as credit, debit and prepaid debit cards issued on the networks of the Payment Card Brands (Visa, MasterCard, American Express and Discover) and Interac (in Canada). The Company serves its customers through a network of nine production and card services facilities, including seven high-security facilities in North America that are each certified by one or more of the Payment Card Brands and Interac (in Canada) and, where required by the Company’s customers, the PCI Security Standards Council. In addition to its seven North American facilities, the Company has two facilities in the United Kingdom that produce retail cards, such as gift and loyalty cards that are not issued on the networks of the Payment Card Brands, and personalization services. Basis of Presentation The accompanying unaudited condensed consolidated financial statements and condensed footnotes have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for the fair statement of the results of the interim periods presented. The condensed consolidated balance sheet as of December 31, 2014 is derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our prospectus dated October 8, 2015, filed with the Securities and Exchange Commission (“SEC”) on October 9, 2015 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (“Securities Act”). The Company sold its non-secure operation located in Nevada on January 12, 2015 (the “Nevada Sale”) pursuant to an asset purchase agreement for $5,000 in cash. The Nevada operations primarily produced retail gift cards that are not issued on the networks of the Payment Card Brands. Accordingly, the Company’s consolidated balance sheet for the year ended December 31, 2014 and the statements of operations and comprehensive income for the three and nine months ended September 30, 2015 and 2014 have been reclassified to present the Nevada operations as a discontinued operation. See Note 3. In August 2015, the Company completed the shut down and closure of its operation in Petersfield, United Kingdom. Petersfield primarily produced retail gift cards that are not issued on the networks of the Payment Card Brands. Accordingly, the Company accrued facility contract termination costs of $681 in the three and nine months ended September 30, 2015. Use of Estimates Management uses estimates and assumptions relating to the reporting of assets and liabilities in its preparation of the condensed consolidated financial statements. Significant items subject to such estimates and assumptions include the carrying amount of property and equipment, goodwill and intangible assets; valuation allowances for receivables, inventories and deferred tax assets; and stock-based compensation expense. Actual results could differ from those estimates. Recently Issued Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers , in May 2014. ASU 2014-09 requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity should also disclose sufficient quantitative and qualitative information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In July 2015, the FASB deferred the effective date to annual reporting periods beginning after December 15, 2017, and interim reporting periods within those periods. The Company plans to implement the provisions of ASU 2014-09 as of January 1, 2018. The Company is in the process of determining the method of adoption and assessing the impact of ASU 2014-09 on its results of operations, financial position and consolidated financial statements. The FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , in April 2015. ASU 2015-03 requires debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the debt liability, similar to the presentation of debt discounts. The new standard is effective for public entities’ annual reporting periods beginning after December 15, 2015. Early adoption of the amendments in ASU 2015-03 is permitted for financial statements that have not been previously issued. The Company has elected to early adopt this standard in 2015 Accordingly, the Company recorded a reduction of $11,078 to long-term debt in the company’s condensed consolidated balance sheet as of September 30, 2015, and reclassified $614 from Capitalized loan fees to long-term debt in the Company’s condensed consolidated balance sheet as of December 31, 2014. The FASB issued ASU 2015-11, Inventory—Simplifying the Measurement of Inventory , in July 2015. ASU 2015-11 requires that inventory be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The new standard is effective for public entities’ annual reporting periods beginning after December 15, 2016. The Company plans to implement the provisions of ASU 2015-11 as of January 1, 2017. The Company is in the process of assessing the impact of ASU 2015-11 on its results of operations, financial position and consolidated financial statements.

EFT Source Acquisition

EFT Source Acquisition	9 Months Ended
	Sep. 30, 2015
EFT Source Acquisition
EFT Source Acquisition	2. EFT Source Acquisition On September 2, 2014, the Company, through its wholly-owned subsidiary, CPI Acquisition, Inc., purchased EFT Source, Inc. (“EFT Source”) headquartered in Nashville, Tennessee. EFT Source is a provider of Financial Payment Card services such as data personalization and fulfillment in the U.S. market. The primary reasons for the acquisition were to extend the Company’s existing product lines, expand its markets and increase revenue. Total consideration of $68,859 consisted of $54,859 paid in cash and non-cash considerations of a $9,000 Sellers Note and the issuance of $5,000 of CPI Card Group Inc. preferred and common stock. The assets and liabilities assumed in the acquisition were included in the condensed consolidated balance sheets as of September 30, 2015 and December 31, 2014. The results of the EFT Source operations were also included in the condensed consolidated statements of operations for the three and nine months ended September 30, 2015 and from September 2, 2014 through September 30, 2014. Pro Forma Information The following unaudited pro forma consolidated operating results give effect to the EFT Source acquisition as if it had been completed on January 1, 2014. These pro forma amounts are not necessarily indicative of the operating results that would have occurred if these transactions had occurred on such date. The pro forma adjustments are based on certain assumptions that the Company considers to be reasonable. Three Months Ended Nine Months Ended September 30, 2014 September 30, 2014 Revenue – Continuing Operations $ $ Net Income – Continuing Operations Basic and diluted loss per share from Continuing Operations (a) $ $ (a) Loss per share from continuing operations attributable to common stockholders after giving effect to preferred stock dividends.

Discontinued Operation and Disp

Discontinued Operation and Disposition	9 Months Ended
	Sep. 30, 2015
Discontinued Operation and Disposition
Discontinued Operation and Disposition	3. Discontinued Operation and Disposition On January 12, 2015, the Company sold its Nevada non-secure operations pursuant to an asset purchase agreement for $5,000 in cash. At December 31, 2014, the net carrying values of the assets classified as a discontinued operation include inventory and plant, equipment and leasehold improvements of $3,128 and $2,910 respectively. During the nine months ended September 30, 2015, the Company recognized a gain on the sale of a discontinued operation of $887 , which is included in the gain from a discontinued operation, net of an income tax benefit of $1,926 in the Company’s condensed consolidated statement of operations. The Nevada operations recognized income of $699 for the three months ended September 30, 2014, net of income tax expense of $374 in the Company’s condensed consolidated statement of operations. The Nevada operations recognized a loss of $606 for the nine months ended September 30, 2015 and a loss of $2,064 for the nine months ended September 30, 2014, net of an income tax benefit of $404 and $1,108 , respectively, in the Company’s condensed consolidated statement of operations. After the Nevada Sale, CPI retained no significant continuing involvement in the Nevada operations other than a 180 day transition of services agreement, which expired on July 11, 2015. As a result of the Nevada Sale, the Company expects to be able to take a tax deduction of $32,128 related to the tax deductible goodwill and intangible assets of the Nevada operations of which $4,190 of the tax deductible goodwill resulted in the recognition of an income tax benefit of $1,510 during the nine months ended September 30, 2015.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2015
Inventories
Inventories	4. Inventories Inventories include the following: September 30, 2015 December 31, 2014 Raw materials $ $ Work-in-process Finished goods $ $

Plant, Equipment and Leasehold

Plant, Equipment and Leasehold Improvements	9 Months Ended
	Sep. 30, 2015
Plant, Equipment and Leasehold Improvements
Plant, Equipment and Leasehold Improvements	5. Plant, Equipment and Leasehold Improvements Plant, equipment and leasehold improvements consist of the following asset classes: September 30, 2015 December 31, 2014 Buildings $ $ Machinery and equipment Furniture and fixtures Leasehold improvements Construction in progress Less accumulated depreciation and amortization $ $ For the Company’s continuing operations, amounts recorded for the depreciation of plant, equipment and leasehold improvements were $2,674 and $2,772 for the three months ended September 30, 2015 and 2014, respectively, and $8,430 and $7,410 for the nine months ended September 30, 2015 and 2014, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	6. Goodwill and Other Intangible Assets Goodwill relates to the Company’s U.S. Debit and Credit, U.K. Limited and Canada reporting segments. The change in goodwill from December 31, 2014 to September 30, 2015 was a result of currency translation adjustments. Intangible assets consist of customer relationships, technology and software, non-compete agreements, favorable leases and trademarks. Total intangible assets are being amortized over a weighted-average useful life of 16 years. The changes in the cost basis of the intangibles from December 31, 2014 to September 30, 2015 are related to foreign currency translations. Intangible amortization expense was $1,145 and $509 for the three months ended September 30, 2015 and 2014, respectively. Intangible amortization expense was $3,433 and $1,531 for the nine months ended September 30, 2015 and 2014, respectively. As of September 30, 2015 and December 31, 2014, intangible assets, excluding goodwill, were comprised of the following: September 30, 2015 December 31, 2014 Average Life Accumulated Net Book Accumulated Net Book (Years) Cost Amortization Value Cost Amortization Value Customer relationships to 20 $ $ $ $ $ $ Technology and software to 10 Non-compete agreements to 8 Favorable leases 9.5 Intangible assets subject to amortization Trademarks (indefinite-lived) — — $ $ $ $ $ $ The estimated future aggregate amortization expense for the identified amortizable intangibles noted above as of September 30, 2015 is as follows: 2015 (remaining 3 months) $ 2016 2017 2018 2019 Thereafter $

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2015
Fair Value of Financial Instruments
Fair Value of Financial Instruments	7. Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). In determining fair value, the Company utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: · Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. · Level 2— Observable inputs other than Level 1 prices such as quoted prices in active markets for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term for the assets or liabilities. · Level 3— Valuations based on unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. The Company’s financial assets and liabilities subject to fair value measurements and the necessary disclosures are as follows: Fair Value as of Fair Value Measurement at September 30, 2015 September 30, (Using Fair Value Hierarchy) 2015 Level 1 Level 2 Level 3 Liabilities: Term Loan $ $ — $ $ — Sellers Note $ $ — $ — $ Fair Value as of Fair Value Measurement at December 31, 2014 December 31, (Using Fair Value Hierarchy) 2014 Level 1 Level 2 Level 3 Liabilities: Term Loan $ $ — $ $ — Sellers Note $ $ — $ — $

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2015
Related-Party Transactions
Related-Party Transactions	8. Related-Party Transactions The Company leases its operating facility in Indiana from a company that is owned by an individual who was a member of the Company’s Board of Directors until August 7, 2015. The lease expires in January 2018 and requires the Company to pay property taxes, insurance and normal maintenance costs. The Company paid rent of $40 for each of the three month periods ended September 30, 2015 and 2014, and $121 for each of the nine month periods ended September 30, 2015 and 2014. In conjunction with certain Company employees acquiring preferred and common stock during 2013 and 2012, the Company obtained notes receivable from the employees that have remaining balances outstanding of $0 and $108 at September 30, 2015 and December 31, 2014, respectively.

Long-Term Debt and Subordinated

Long-Term Debt and Subordinated Credit Facility	9 Months Ended
	Sep. 30, 2015
Long-Term Debt and Subordinated Credit Facility
Long-Term Debt and Subordinated Credit Facility	9. Long-Term Debt and Credit Facility As of September 30, 2015 and December 31, 2014, long-term debt and credit facilities consist of the following: Interest September 30, December 31, Rate (1) 2015 2014 First lien term loan facility (1) % $ $ — Unamortized discount on first lien term loan facility — Senior term loan dated September 2, 2014 % — Unamortized discount on senior term loan — Unamortized deferred financing costs Sellers note % Total long-term debt Less current maturities of long-term debt Long-term debt, excluding current maturities $ $ (1) Interest rate at September 30, 2015 First Lien Credit Facility On August 17, 2015, the Company entered into a first lien credit agreement (the “First Lien Credit Facility”) with a syndicate of lenders providing for a $435,000 first lien term loan facility (the “First Lien Term Loan”) and a $40,000 revolving credit facility (the “Revolving Credit Facility”). The First Lien Term Loan and the Revolving Credit Facility have maturity dates of August 17, 2022 and August 17, 2020, respectively. The First Lien Credit Facility is secured by a first-priority security interest in substantially all of the Company’s assets constituting equipment, inventory, receivables, cash and other tangible and intangible property. Interest rates under the First Lien Credit Facility are based, at the Company’s election, on a Eurodollar rate plus a margin of 4.50% or a base rate plus a margin of 3.50% . Letters of credit are subject to a 0.125% fronting fee payable to the issuing bank and a fee payable to the revolving lenders equal to the margin applicable to Eurodollar revolving loans. In addition, the Company is required to pay an unused commitment fee ranging from 0.375% per annum to 0.50% per annum of the average unused portion of the revolving commitments. The unused commitment fee is determined on the basis of a grid that results in a lower unused commitment fee as the Company’s total net leverage ratio declines. The First Lien Credit Facility contains customary nonfinancial covenants, including among other things, restrictions on indebtedness, issuance of liens, investments, dividends, redemptions and other distributions to equity holders, asset sales, certain mergers or consolidations, sales, transfers, leases or dispositions of substantially all of the Company’s assets and affiliate transactions. The First Lien Credit Facility also requires prepayment in advance of the maturity date upon the occurrence of certain customary events, including the completion of a qualified initial public offering. The First Lien Credit Facility also contains a requirement that, as of the last day of any fiscal quarter, if the amount the Company has drawn under the Revolving Credit Facility is greater than 50% of the aggregate principal amount of all commitments of the lenders thereunder, the Company maintain a first lien net leverage not in excess of 7.00 times. In accordance with the terms of the First Lien Credit Facility, the Company repaid $112,500 of the First Lien Term Loan on October 15, 2015 in conjunction with the completion of its initial public offering (“IPO”). See Note 18. As of September 30, 2015, the Company did not have any outstanding amounts under the Revolving Credit Facility other than outstanding letters of credit of approximately $100 , which reduced the borrowing capacity to $39,900 . Senior Term Loan dated September 2, 2014 At September 30, 2015, there were no amounts outstanding on the Senior Term Loan dated November 8, 2012, and amended September 2, 2014, and the related revolver with a maturity of September 30, 2016. The outstanding balance of $158,420 on the Senior Term Loan was repaid in full on August 17, 2015 using a portion of the proceeds from the new $435,000 First Lien Term Loan. In conjunction with the repayment of the Senior Term Loan, the Company recognized a $703 loss on early extinguishment related to the unamortized deferred financing costs and discount on the Senior Term Loan. Sellers Note The Company entered into a subordinated, unsecured promissory note for $9,000 with certain sellers of EFT Source as part of the EFT Source acquisition. Interest on the Sellers Note accrues at 5.0% per annum and is paid quarterly. The Sellers Note principal and unpaid interest is due to the sellers at the earlier of September 2, 2016 or with the occurrence of certain specific events as outlined in the Sellers Note. The Company recorded the Sellers Note as current liability at September 30, 2015, as the maturity date of the loan is within twelve months from September 30, 2015. Letters of Credit The Company has two outstanding letters of credit for the security deposits on two real property lease agreements. These letters of credit are for a total of $100 , reducing availability under the Revolving Credit Facility. The Company pays a fee on the outstanding letters of credit at the applicable margin, which was 4.50% as of September 30, 2015, in addition to a fronting fee of 0.125% per annum.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes During the three months ended September 30, 2015, the Company recognized an income tax expense of $6,554 on pre-tax income of $21,314 , representing an effective income tax rate of 30.7% compared to an income tax expense of $4,751 on pre-tax income of $11,519 , representing an effective tax rate of 41.2% during the three months ended September 30, 2014. The effective tax rates for all periods presented also differ from the federal U.S. statutory rate primarily due to a benefit from permanent deductions related to credits for domestic production activities and the impact of state income taxes. During the nine months ended September 30, 2015, the Company recognized an income tax expense of $16,528 on pre-tax income of $49,404 , representing an effective income tax rate of 33.5% compared to an income tax expense of $7,084 on pre-tax income of $17,419 , representing an effective tax rate of 40.7% during the nine months ended September 30, 2014.

Series A Preferred Stock

Series A Preferred Stock	9 Months Ended
	Sep. 30, 2015
Series A Preferred Stock.
Series A Preferred Stock	11. Series A Preferred Stock Series A Preferred Stock has a par value of $0.001 per share. The Series A Preferred Stock has an initial liquidation preference equal to $1,000 per outstanding share. In addition, the Series A Preferred Stock liquidation preference earns a dividend of 20% per share per annum payable when declared by the Board of Directors. Such dividends accrue on each share from the date of original issuance and accrue on a daily basis, whether or not declared. Such dividends are cumulative so that if such dividend in respect of any previous or current annual dividend period, at the annual 20% rate, has not been paid, the deficiency shall first be fully paid before any dividend or other distribution shall be paid or declared and set apart for the common stock. In the event of any liquidation, dissolution or winding up of the Company, the Series A Preferred Stock holders shall be entitled to receive, prior and in preference to any distributions of any of the Company’s assets to the common stock holders, the value of the liquidation preference. If the distribution of such assets is insufficient to permit the payment to such holders, the distribution shall be distributed ratably among the holders of the Series A Preferred Stock in proportion to the amount of such stock owned by each holder. The Series A Preferred Stock has no voting rights. Series A Preferred Stock Shares Amount Balance as of December 31, 2014 $ Less redemptions of preferred stock Balance as of September 30, 2015 $ On August 17, 2015, the Company redeemed 62,140 shares of the Series A Preferred Stock for $276,688 , or $4,446.70 per share. Of the $276,688 redemption amount, $55,946 was treated as a return of capital and $220,742 was treated as a dividend. During the nine months ended September 30, 2015, the Company redeemed a total of 62,233 shares of Series A Preferred Stock at prices ranging between $3,950.33 and $4,446.70 per share. On October 15, 2015, the Company redeemed the remaining 2,576 shares of the Series A Preferred Stock for $11,877 , or $4,610.68 per share. See Note 18.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity
Stockholders' Equity	12. Stockholders’ Equity Common Stock On September 3, 2015, the Company’s Board of Directors approved a 22 -for-1 stock split of our common stock. Upon the effective date of the stock split, each outstanding share of common stock and restricted common stock was divided into 22 shares of common stock or restricted common stock, as applicable. Shares of common stock available for issuance under the 2007 Stock Option Plan were increased accordingly. All of the share numbers, share prices and exercise prices have been retroactively adjusted to reflect the stock split in this Quarterly Report on Form 10-Q, including the accompanying condensed consolidated financial statements and these notes. During the nine months ended September 30, 2015, the Company issued no common stock and redeemed 86,768 shares of common stock at values of $0.32 and $0.91 per share. During the three months ended September 30, 2015, there was no common stock issued or redeemed. The redeemed common stock share values were calculated in accordance with the terms of the applicable award agreements.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2015
Earnings per Share
Earnings per Share	13. Earnings per Share Basic or diluted earnings (loss) per share, (“EPS”) is computed by dividing net earnings or loss by the weighted number of ordinary shares outstanding during the period. The following table sets forth the computation of basic and diluted EPS attributable to continuing and discontinued operations: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Numerator: Net income from continuing operations $ $ $ $ Preferred stock dividends Income (loss) from continuing operations attributable to common stockholders Income (loss) from a discontinued operation, net of taxes — Net income (loss) available to common stockholders $ $ $ $ Denominator: Basic EPS - weighted average common shares outstanding Basic EPS: Income (loss) from continuing operations $ $ $ $ Income (loss) income from a discontinued operation, net of taxes — Net income (loss) $ $ $ $ Denominator: Diluted EPS - weighted average common shares outstanding Diluted EPS: Income (loss) from continuing operations $ $ $ $ Income (loss) from a discontinued operation, net of taxes — Net income (loss) $ $ $ $ The Company reported net income from continuing operations available to common stockholders for three and nine months ended September 30, 2015. Accordingly, the potentially dilutive effect of the outstanding stock options of 539,000 as of September 30, 2015 has been included in the computation of diluted earnings per share. All potentially dilutive shares as of September 30, 2014 have been excluded from the weighted-average number of shares of common stock outstanding as their inclusion would be antidilutive. As further described in Note 11, the cumulative dividends in arrears related to Series A Preferred Stock must be paid before any distribution can be paid to the Company’s common stockholders. As of September 30, 2015, cumulative dividends in arrears related to Series A Preferred Stock were $9,573 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies Asset retirement obligations relate to legal obligations associated with the removal of all leasehold improvements at the end of the lease term. The Company records all asset retirement obligations, which primarily relate to “make-good” clauses in operating leases, for its leased property containing leasehold improvements. The liability, reported within other long-term liabilities, is accreted through charges to operating expenses. If the asset retirement obligation is settled for an amount other than the carrying amount of the liability, the Company recognizes a gain or loss on settlement. Accretion expense was $6 for both the nine month periods ended September 30, 2015 and 2014. As of September 30, 2015 and December 31, 2014, the Company’s asset retirement obligations included in other long-term liabilities were $621 and $911 , respectively.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2015
Stock-Based Compensation
Stock-Based Compensation	15. Stock-Based Compensation The Company accounts for stock-based compensation pursuant to Accounting Standards Codification (“ASC”) 718, Share-Based Payment , which requires measurement of compensation cost for all stock awards at fair value on the date of grant and recognition of compensation, net of estimated forfeitures, over the requisite service period for awards expected to vest. In 2007, the Company’s Board of Directors adopted the CPI Holdings I, Inc. Amended and Restated 2007 Stock Option Plan (the “Option Plan”). Under the provisions of the Option Plan, stock options may be granted to employees, directors, and consultants at an exercise price greater than or equal to (and not less than) the fair market value of a share on the date the option is granted. The number of common shares available under the Option Plan is 2,090,000 , of which 1,562,000 were available to be granted during the nine month period ended September 30, 2015. The stock options have a 10 -year life and vest as noted in each respective grant letter. All stock options are nonqualified. No stock options were granted during the nine month period ended September 30, 2015. The following table summarizes the changes in the number of outstanding stock options for the nine month period ended September 30, 2015: Weighted- Average Remaining Weighted- Average Contractual Term Options Exercise Price (in Years) Outstanding as of December 31, 2014 $ Granted — — — Forfeited — Outstanding as of September 30, 2015 $ Exercisable as of September 30, 2015 $ Unvested options as of September 30, 2015 vest as follows: 2015 2016 Total unvested options as of September 30, 2015 Compensation expense and unrecorded compensation expense related to stock options granted under the Option Plan for the three and nine month periods ended September 30, 2015 and 2014 were de minimis. The following table summarizes the changes in the number of outstanding restricted shares of common stock for the nine month period ended September 30, 2015: Weighted- Shares Average Grant Date Fair Value Outstanding as of December 31, 2014 — $ — Granted Vested — — Forfeited — — Outstanding as of September 30, 2015 $ During the nine months ended September 30, 2015, the Company issued 191,664 restricted shares of common stock to executives of the Company. The awards contain service conditions associated with continued employment or service. The terms of the non-vested restricted shares of common stock provide voting and regular dividend rights to the holders of the restricted shares of common stock. Upon vesting, the restrictions on the restricted shares of common stock lapse and the shares are considered issued and outstanding. The restricted shares vest over one to three year periods. Total compensation expense related to the unvested restricted shares of common stock awards was $323 for the three and nine month periods ended September 30, 2015. As of September 30, 2015, there was $1,494 of total remaining unrecognized compensation expense related to non-vested restricted shares of common stock that will be recognized over a weighted average period of 1.74 years.

Phantom Stock Plan

Phantom Stock Plan	9 Months Ended
	Sep. 30, 2015
Phantom Stock Plan.
Phantom Stock Plan	16. Phantom Stock Plan Total authorized units under the CPI Acquisition, Inc. Phantom Stock Plan, (the “Phantom Stock Plan”) are 100,000 . At December 31, 2014, there were 84,297 units issued and outstanding under the terms of the Phantom Stock Plan, of which 13,088 were fully vested. At September 30, 2015, there were 81,156 units issued and outstanding under the terms of the Phantom Stock Plan, of which 13,088 were fully vested. As these awards must be settled in cash, the Company accounts for them as liabilities. The Company measures the liability at intrinsic value; with changes in the intrinsic value of the liability recognized as expense in the consolidated statements of operations and comprehensive income. There was $311 and $2,604 of compensation expense recognized for the three months ended September 30, 2015 and 2014, respectively, related to the Phantom Stock Plan. There was $1,813 and $2,013 of compensation expense recognized for the nine months ended September 30, 2015 and 2014, respectively, related to the Phantom Stock Plan. On October 15, 2015, the Company settled the full liability associated with the Phantom Stock Plan for $13,268 . See Note 18.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2015
Segment Reporting
Segment Reporting	17. Segment Reporting The Company has identified reportable segments as those consolidated subsidiaries that represent 10% or more of its revenue, EBITDA (as defined below), or total assets or subsidiaries which the Company believes information about the segment would be useful to the readers of the financial statements from a qualitative perspective. The Company’s chief operating decision maker is its Chief Executive Officer who is charged with management of the Company and is responsible for the evaluation of operating performance and decision making about the allocation of resources to operating segments based on measures such as revenue and EBITDA. EBITDA is the primary measure used by the Company’s chief operating decision maker to evaluate segment operating performance. As the Company uses the term, EBITDA is defined as income from continuing operations before interest expense, income taxes, depreciation and amortization. The Company’s chief operating decision maker believes EBITDA is a meaningful measure and is superior to available U.S. GAAP measures as it represents a transparent view of the Company’s operating performance that is unaffected by fluctuations in property, equipment and leasehold improvement additions. The Company’s chief operating decision maker uses EBITDA to perform periodic reviews and comparison of operating trends and identify strategies to improve the allocation of resources amongst segments. As of September 30, 2015, the Company’s reportable segments are as follows: · U.S. Debit and Credit · U.S. Prepaid Debit · U.K. Limited · Other On February 16, 2015, the Company determined that the Petersfield, United Kingdom operation, which is included in Other, would be shut down. The shut down and closure of the Petersfield facility was completed in August 2015. Performance Measures of Reportable Segments Revenue and EBITDA of the Company’s reportable segments for the three and nine months ended September 30, 2015 and 2014 were as follows: Revenue Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 U.S. Debit and Credit (a) $ $ $ $ U.S. Prepaid Debit U.K. Limited Other Intersegment eliminations Total: $ $ $ $ EBITDA Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 U.S. Debit and Credit (a) $ $ $ $ U.S. Prepaid Debit U.K. Limited Other Total: $ $ $ $ (a) Amounts for the three and nine months ended September 30, 2015 include the post-acquisition revenue and EBITDA of EFT Source. The following table provides a reconciliation of total segment EBITDA to income before income taxes for the three months ended September 30, 2015 and 2014 and the nine months ended September 30, 2015 and 2014: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Total segment EBITDA $ $ $ $ Depreciation and amortization Interest, net Income before income taxes $ $ $ $ Balance Sheet Data of Reportable Segments Total assets of the Company’s reportable segments as of September 30, 2015 and December 31, 2014 were as follows: September 30, 2015 December 31, 2014 U.S. Debit and Credit $ $ U.S. Prepaid Debit U.K. Limited Other Total continuing operations: Discontinued operation (a): — Total assets: $ $ (a) As of December 31, 2014, certain assets of the Nevada operation sold on January 12, 2015 (Note 3) are presented in assets of a discontinued operation in the Company’s consolidated balance sheet. Plant, Equipment and Leasehold Improvement Additions of Geographic Locations Plant, equipment and leasehold improvement additions of the Company’s geographical locations for the three and nine months ended September 30, 2015 and 2014 were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 U.S. $ $ $ $ Canada Total North America U.K. Total plant, equipment and leasehold improvement additions $ $ $ $ Net Sales of Geographic Locations Net sales of the Company’s geographic locations for the three and nine months ended September 30, 2015 and 2014 were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 U.S.(a) $ $ $ $ Canada Total North America U.K. Other (b) Total revenue $ $ $ $ (a) Amounts for the three and nine months ended September 30, 2015 include the post-acquisition revenue of EFT Source. (b) Amounts in Other include sales to various countries that individually are not material. Long-Lived Assets of Geographic Segments Long-lived assets of the Company’s geographic segments as of September 30, 2015 and December 31, 2014 were as follows: September 30, 2015 December 31, 2014 U.S. $ $ Canada Total North America: U.K. Total long-lived assets $ $ Net Sales by Product and Services Net sales from products and services sold by the Company for the three and nine months ended September 30, 2015 and 2014 were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Product net sales (a) $ $ $ $ Services net sales (b) Total net sales: $ $ $ $ (a) Product net sales include the design and production of Financial Payment Cards in contact-EMV, Dual-Interface EMV, contactless and magnetic stripe card formats. The Company also generates product revenue from the sale of Card Once ® instant issuance systems, private label credit cards and retail gift cards. (b) S ervices net sales include revenue from the personalization and fulfillment of Financial Payment Cards, the provision of tamper-evident security packaging, providing fulfillment services to Prepaid Debit Card program managers and software as a service personalization of instant issuance debit cards. The Company also generates service revenue from personalizing retail gift cards (primarily in Canada and the United Kingdom) and from click-fees generated from the Company’s patented card design software, known as MYCA, which provides customers and cardholders the ability to design cards on the internet and customize cards with individualized digital images .

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2015
Subsequent Event
Subsequent Event	18. Subsequent Events On October 15, 2015, the Company completed its IPO issuing 15,000,000 shares of common stock. The public offering price of the shares sold in the IPO was $10.00 per share. The net proceeds of $142,500 from the IPO were utilized to (i) redeem all of our remaining Series A Preferred Stock for a total redemption price of $11,877 , (ii) repay $112,500 of the amount outstanding under the First Lien Term Loan, and (iii) terminate and settle all outstanding obligations due under the Phantom Stock Plan of $13,268 . Deferred offering expenses of $3,941 were recorded as other assets in the September 30, 2015 balance sheet. Upon completion of the IPO, these offering expenses were reclassified to additional paid-in capital. Approximately $1,804 of deferred offering costs were accrued as of September 30, 2015. After the issuance of 15,000,000 shares of common stock in the IPO, the Company had 56,476,116 shares of common stock outstanding. On October 4, 2015, the Company’s Board of Directors increased the number of authorized shares of common stock to 100 million. In conjunction with the completion of the IPO, the Company adopted the CPI Card Group Inc. Omnibus Plan (the “Omnibus Plan”) pursuant to which cash and equity based incentives may be granted to participating employees, advisors and directors. The Company has reserved 4,000,000 shares of common stock for issuance under the Omnibus Plan. Further, the Company granted awards of stock options for 770,450 shares of common stock at an exercise price of $10 per share on October 9, 2015. The options will generally vest 33.4% on October 9, 2017, 33.3% on October 9, 2018, and 33.3% on October 9, 2019.

Business Overview and Summary24

Business Overview and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Business Overview and Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements and condensed footnotes have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these financial statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary for the fair statement of the results of the interim periods presented. The condensed consolidated balance sheet as of December 31, 2014 is derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our prospectus dated October 8, 2015, filed with the Securities and Exchange Commission (“SEC”) on October 9, 2015 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (“Securities Act”). The Company sold its non-secure operation located in Nevada on January 12, 2015 (the “Nevada Sale”) pursuant to an asset purchase agreement for $5,000 in cash. The Nevada operations primarily produced retail gift cards that are not issued on the networks of the Payment Card Brands. Accordingly, the Company’s consolidated balance sheet for the year ended December 31, 2014 and the statements of operations and comprehensive income for the three and nine months ended September 30, 2015 and 2014 have been reclassified to present the Nevada operations as a discontinued operation. See Note 3. In August 2015, the Company completed the shut down and closure of its operation in Petersfield, United Kingdom. Petersfield primarily produced retail gift cards that are not issued on the networks of the Payment Card Brands. Accordingly, the Company accrued facility contract termination costs of $681 in the three and nine months ended September 30, 2015.
Use of Estimates	Use of Estimates Management uses estimates and assumptions relating to the reporting of assets and liabilities in its preparation of the condensed consolidated financial statements. Significant items subject to such estimates and assumptions include the carrying amount of property and equipment, goodwill and intangible assets; valuation allowances for receivables, inventories and deferred tax assets; and stock-based compensation expense. Actual results could differ from those estimates.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers , in May 2014. ASU 2014-09 requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. An entity should also disclose sufficient quantitative and qualitative information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In July 2015, the FASB deferred the effective date to annual reporting periods beginning after December 15, 2017, and interim reporting periods within those periods. The Company plans to implement the provisions of ASU 2014-09 as of January 1, 2018. The Company is in the process of determining the method of adoption and assessing the impact of ASU 2014-09 on its results of operations, financial position and consolidated financial statements. The FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , in April 2015. ASU 2015-03 requires debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the debt liability, similar to the presentation of debt discounts. The new standard is effective for public entities’ annual reporting periods beginning after December 15, 2015. Early adoption of the amendments in ASU 2015-03 is permitted for financial statements that have not been previously issued. The Company has elected to early adopt this standard in 2015 Accordingly, the Company recorded a reduction of $11,078 to long-term debt in the company’s condensed consolidated balance sheet as of September 30, 2015, and reclassified $614 from Capitalized loan fees to long-term debt in the Company’s condensed consolidated balance sheet as of December 31, 2014. The FASB issued ASU 2015-11, Inventory—Simplifying the Measurement of Inventory , in July 2015. ASU 2015-11 requires that inventory be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The new standard is effective for public entities’ annual reporting periods beginning after December 15, 2016. The Company plans to implement the provisions of ASU 2015-11 as of January 1, 2017. The Company is in the process of assessing the impact of ASU 2015-11 on its results of operations, financial position and consolidated financial statements.

EFT Source Acquisition (Tables)

EFT Source Acquisition (Tables)	9 Months Ended
	Sep. 30, 2015
EFT Source Acquisition
Schedule of pro forma consolidated operating results	Three Months Ended Nine Months Ended September 30, 2014 September 30, 2014 Revenue – Continuing Operations $ $ Net Income – Continuing Operations Basic and diluted loss per share from Continuing Operations (a) $ $ Loss per share from continuing operations attributable to common stockholders after giving effect to preferred stock dividends.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventories
Schedule of inventories	September 30, 2015 December 31, 2014 Raw materials $ $ Work-in-process Finished goods $ $

Plant, Equipment and Leasehol27

Plant, Equipment and Leasehold Improvements (Tables)	9 Months Ended
	Sep. 30, 2015
Plant, Equipment and Leasehold Improvements
Schedule of plant, equipment and leasehold improvements	September 30, 2015 December 31, 2014 Buildings $ $ Machinery and equipment Furniture and fixtures Leasehold improvements Construction in progress Less accumulated depreciation and amortization $ $

Goodwill and Other Intangible28

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Other Intangible Assets
Schedule of intangible assets excluding goodwill	September 30, 2015 December 31, 2014 Average Life Accumulated Net Book Accumulated Net Book (Years) Cost Amortization Value Cost Amortization Value Customer relationships to 20 $ $ $ $ $ $ Technology and software to 10 Non-compete agreements to 8 Favorable leases 9.5 Intangible assets subject to amortization Trademarks (indefinite-lived) — — $ $ $ $ $ $
Schedule of future aggregate amortization expense for identified amortizable intangibles	2015 (remaining 3 months) $ 2016 2017 2018 2019 Thereafter $

Fair Value of Financial Instr29

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value of Financial Instruments
Schedule of financial assets and liabilities subject to fair value measurements	Fair Value as of Fair Value Measurement at September 30, 2015 September 30, (Using Fair Value Hierarchy) 2015 Level 1 Level 2 Level 3 Liabilities: Term Loan $ $ — $ $ — Sellers Note $ $ — $ — $ Fair Value as of Fair Value Measurement at December 31, 2014 December 31, (Using Fair Value Hierarchy) 2014 Level 1 Level 2 Level 3 Liabilities: Term Loan $ $ — $ $ — Sellers Note $ $ — $ — $

Long-Term Debt and Subordinat30

Long-Term Debt and Subordinated Credit Facility (Tables)	9 Months Ended
	Sep. 30, 2015
Long-Term Debt and Subordinated Credit Facility
Schedule of long-term debt	Interest September 30, December 31, Rate (1) 2015 2014 First lien term loan facility (1) % $ $ — Unamortized discount on first lien term loan facility — Senior term loan dated September 2, 2014 % — Unamortized discount on senior term loan — Unamortized deferred financing costs Sellers note % Total long-term debt Less current maturities of long-term debt Long-term debt, excluding current maturities $ $ (1) Interest rate at September 30, 2015

Series A Preferred Stock (Table

Series A Preferred Stock (Tables)	9 Months Ended
	Sep. 30, 2015
Series A Preferred Stock.
Schedule of Series A Preferred Stock	Series A Preferred Stock Shares Amount Balance as of December 31, 2014 $ Less redemptions of preferred stock Balance as of September 30, 2015 $

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings per Share
Computation of basic and diluted EPS	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Numerator: Net income from continuing operations $ $ $ $ Preferred stock dividends Income (loss) from continuing operations attributable to common stockholders Income (loss) from a discontinued operation, net of taxes — Net income (loss) available to common stockholders $ $ $ $ Denominator: Basic EPS - weighted average common shares outstanding Basic EPS: Income (loss) from continuing operations $ $ $ $ Income (loss) income from a discontinued operation, net of taxes — Net income (loss) $ $ $ $ Denominator: Diluted EPS - weighted average common shares outstanding Diluted EPS: Income (loss) from continuing operations $ $ $ $ Income (loss) from a discontinued operation, net of taxes — Net income (loss) $ $ $ $

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Stock-Based Compensation
Summary of changes in number of outstanding stock options	Weighted- Average Remaining Weighted- Average Contractual Term Options Exercise Price (in Years) Outstanding as of December 31, 2014 $ Granted — — — Forfeited — Outstanding as of September 30, 2015 $ Exercisable as of September 30, 2015 $
Schedule of vesting for unvested options	2015 2016 Total unvested options as of September 30, 2015
Summary of changes in number of outstanding restricted shares of common stock	Weighted- Shares Average Grant Date Fair Value Outstanding as of December 31, 2014 — $ — Granted Vested — — Forfeited — — Outstanding as of September 30, 2015 $

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting
Schedule of revenue and EBITDA of the company's reportable segments	Revenue Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 U.S. Debit and Credit (a) $ $ $ $ U.S. Prepaid Debit U.K. Limited Other Intersegment eliminations Total: $ $ $ $ EBITDA Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 U.S. Debit and Credit (a) $ $ $ $ U.S. Prepaid Debit U.K. Limited Other Total: $ $ $ $ (a) Amounts for the three and nine months ended September 30, 2015 include the post-acquisition revenue and EBITDA of EFT Source.
Schedule of reconciliation of total segment EBITDA to income before taxes	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Total segment EBITDA $ $ $ $ Depreciation and amortization Interest, net Income before income taxes $ $ $ $
Schedule of total assets of the company's reportable segments	September 30, 2015 December 31, 2014 U.S. Debit and Credit $ $ U.S. Prepaid Debit U.K. Limited Other Total continuing operations: Discontinued operation (a): — Total assets: $ $ (a) As of December 31, 2014, certain assets of the Nevada operation sold on January 12, 2015 (Note 3) are presented in assets of a discontinued operation in the Company’s consolidated balance sheet.
Schedule of Assets additions of geographic locations	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 U.S. $ $ $ $ Canada Total North America U.K. Total plant, equipment and leasehold improvement additions $ $ $ $
Schedule of net sales of company's grographic locations	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 U.S.(a) $ $ $ $ Canada Total North America U.K. Other (b) Total revenue $ $ $ $ (a) Amounts for the three and nine months ended September 30, 2015 include the post-acquisition revenue of EFT Source. (b) Amounts in Other include sales to various countries that individually are not material.
Schedule of Long lived assets of the company's geographic segments	September 30, 2015 December 31, 2014 U.S. $ $ Canada Total North America: U.K. Total long-lived assets $ $
Schedule of net sales from product and services sold by the company	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Product net sales (a) $ $ $ $ Services net sales (b) Total net sales: $ $ $ $ (a) Product net sales include the design and production of Financial Payment Cards in contact-EMV, Dual-Interface EMV, contactless and magnetic stripe card formats. The Company also generates product revenue from the sale of Card Once ® instant issuance systems, private label credit cards and retail gift cards. (b) S ervices net sales include revenue from the personalization and fulfillment of Financial Payment Cards, the provision of tamper-evident security packaging, providing fulfillment services to Prepaid Debit Card program managers and software as a service personalization of instant issuance debit cards. The Company also generates service revenue from personalizing retail gift cards (primarily in Canada and the United Kingdom) and from click-fees generated from the Company’s patented card design software, known as MYCA, which provides customers and cardholders the ability to design cards on the internet and customize cards with individualized digital images .

Business Overview and Summary35

Business Overview and Summary of Significant Accounting Policies (Details) $ in Thousands	Jan. 12, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)item
Nature of Operations and Basis of Presentation [Line Items]
Total number of production and card services facilities | item			9
Proceeds from sale of asset | $			$ 5,000
Facility contract termination costs | $		$ 681	$ 681
Sold | Nevada
Nature of Operations and Basis of Presentation [Line Items]
Proceeds from sale of asset | $	$ 5,000
Total North America
Nature of Operations and Basis of Presentation [Line Items]
Number of high-security production and card services facilities | item			7
Number of payment card brands which certify card services | item			1
U.K.
Nature of Operations and Basis of Presentation [Line Items]
Total number of production and card services facilities | item			2
Petersfield, United Kingdom
Nature of Operations and Basis of Presentation [Line Items]
Facility contract termination costs | $		$ 681	$ 681

Business Overview and Summary36

Business Overview and Summary of Significant Accounting Policies (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt liability
Long-term debt	$ 413,139	$ 163,484
New Accounting Pronouncement, Early Adoption, Effect [Member]
Debt liability
Long-term debt	$ (11,078)	$ (614)

EFT Source Acquisition (Details

EFT Source Acquisition (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 02, 2014	Sep. 30, 2014	Sep. 30, 2014
Pro Forma Information
Revenue - Continuing Operations		$ 85,235	$ 203,437
Net Income - Continuing Operations		$ 8,483	$ 11,279
Basic loss per share from Continuing Operations		$ (0.49)	$ (0.05)
Diluted loss per share from Continuing Operations		$ (0.49)	$ (0.05)
EFT Source
Acquisition
Total consideration	$ 68,859
Consideration paid in cash	54,859
Non-cash consideration, Sellers Note	9,000
Non-cash consideration, issuance of preferred and common stock	$ 5,000

Discontinued Operation and Di38

Discontinued Operation and Disposition (Details) - USD ($) $ in Thousands	Jan. 12, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Discontinued Operation and Disposition
Proceeds from sale of asset			$ 5,000
Gain on sale of a discontinued operation			887
Income (loss) from discontinued operation		$ 699	(606)	$ (2,064)
Nevada
Discontinued Operation and Disposition
Term of transition service agreement	180 days
Tax deductible goodwill and intangible assets			32,128
Tax deductible goodwill resulting in income tax benefit during the period			4,190
Income tax benefit recognized on tax deductible goodwill			1,510
Nevada | Sold
Discontinued Operation and Disposition
Proceeds from sale of asset	$ 5,000
Gain on sale of a discontinued operation			887
Income tax benefit from gain on discontinued operation			1,926
Income (loss) from discontinued operation			(606)
Income tax expense (benefit) on income (loss) from discontinued opration			$ (404)
Nevada | Held-for-sale
Discontinued Operation and Disposition
Carrying value of inventory					$ 3,128
Carrying value of plant, equipment and leasehold improvements					$ 2,910
Income (loss) from discontinued operation		699		(2,064)
Income tax expense (benefit) on income (loss) from discontinued opration		$ 374		$ (1,108)

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventories
Raw materials	$ 9,365	$ 12,110
Work-in-process	14,383	8,625
Finished goods	3,348	870
Inventory	$ 27,096	$ 21,605

Plant, Equipment and Leasehol40

Plant, Equipment and Leasehold Improvements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Plant, equipment and leasehold improvements, gross	$ 79,425		$ 79,425		$ 70,522
Less accumulated depreciation and amortization	(29,591)		(29,591)		(25,750)
Plant, equipment and leasehold improvements, net	49,834		49,834		44,772
Depreciation	2,674	$ 2,772	8,430	$ 7,410
Buildings
Property, Plant and Equipment [Line Items]
Plant, equipment and leasehold improvements, gross	2,613		2,613		2,486
Machinery and equipment
Property, Plant and Equipment [Line Items]
Plant, equipment and leasehold improvements, gross	53,756		53,756		47,792
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Plant, equipment and leasehold improvements, gross	6,085		6,085		4,203
Leasehold improvements
Property, Plant and Equipment [Line Items]
Plant, equipment and leasehold improvements, gross	14,935		14,935		12,593
Construction in progress
Property, Plant and Equipment [Line Items]
Plant, equipment and leasehold improvements, gross	$ 2,036		$ 2,036		$ 3,448

Goodwill and Other Intangible41

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Intangible Assets [Line Items]
Weighted-average useful life			16 years
Intangible amortization expense	$ 1,145	$ 509	$ 3,433	$ 1,531
Intangible assets subject to amortization, Cost	67,420		67,420		$ 67,574
Intangible assets subject to amortization, Accumulated Amortization	(18,263)		(18,263)		(14,900)
Intangible assets subject to amortization, Net Book Value	49,157		49,157		52,674
Intangible assets, Cost	73,449		73,449		73,603
Intangible assets, Net Book Value	55,186		55,186		58,703
Trademarks
Intangible Assets [Line Items]
Indefinite-lived intangible assets	6,029		6,029		6,029
Customer relationships
Intangible Assets [Line Items]
Intangible assets subject to amortization, Cost	59,717		59,717		59,871
Intangible assets subject to amortization, Accumulated Amortization	(16,908)		(16,908)		(14,304)
Intangible assets subject to amortization, Net Book Value	42,809		$ 42,809		45,567
Customer relationships | Minimum
Intangible Assets [Line Items]
Weighted-average useful life			12 years
Customer relationships | Maximum
Intangible Assets [Line Items]
Weighted-average useful life			20 years
Technology and software
Intangible Assets [Line Items]
Intangible assets subject to amortization, Cost	7,101		$ 7,101		7,101
Intangible assets subject to amortization, Accumulated Amortization	(1,006)		(1,006)		(310)
Intangible assets subject to amortization, Net Book Value	6,095		$ 6,095		6,791
Technology and software | Minimum
Intangible Assets [Line Items]
Weighted-average useful life			7 years
Technology and software | Maximum
Intangible Assets [Line Items]
Weighted-average useful life			10 years
Non-compete agreements
Intangible Assets [Line Items]
Intangible assets subject to amortization, Cost	491		$ 491		491
Intangible assets subject to amortization, Accumulated Amortization	(252)		(252)		(198)
Intangible assets subject to amortization, Net Book Value	239		$ 239		293
Non-compete agreements | Minimum
Intangible Assets [Line Items]
Weighted-average useful life			5 years
Non-compete agreements | Maximum
Intangible Assets [Line Items]
Weighted-average useful life			8 years
Favorable leases
Intangible Assets [Line Items]
Weighted-average useful life			9 years 6 months
Intangible assets subject to amortization, Cost	111		$ 111		111
Intangible assets subject to amortization, Accumulated Amortization	(97)		(97)		(88)
Intangible assets subject to amortization, Net Book Value	$ 14		$ 14		$ 23

Goodwill and Other Intangible42

Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Estimated future aggregate amortization expense
2015 (remaining 3 months)	$ 1,145
2,016	4,569
2,017	4,554
2,018	4,554
2,019	4,535
Thereafter	29,800
Total	$ 49,157	$ 52,674

Fair Value of Financial Instr43

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Sellers Note
Liabilities:
Long-term debt	$ 9,000	$ 9,000
Level 3 | Sellers Note
Liabilities:
Long-term debt	9,000	9,000
First Lien Credit Facility | Term Loan
Liabilities:
Long-term debt	432,825
First Lien Credit Facility | Level 2 | Term Loan
Liabilities:
Long-term debt	$ 432,825
Senior Term Loan | Term Loan
Liabilities:
Long-term debt		170,866
Senior Term Loan | Level 2 | Term Loan
Liabilities:
Long-term debt		$ 170,866

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Notes receivable from employees	$ 0		$ 0		$ 108
Company owned by former member of Board of Directors | Lease of Indiana operating facility
Related Party Transaction [Line Items]
Rent paid	$ 40	$ 40	$ 121	$ 121

Long-Term Debt and Subordinat45

Long-Term Debt and Subordinated Credit Facility (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Unamortized deferred financing costs	$ (11,078)	$ (614)
Total long-term debt	426,489	178,810
Less current maturities of long-term debt	(13,350)	(6,326)
Long-term debt, excluding current maturities	$ 413,139	$ 172,484
Sellers Note
Debt Instrument [Line Items]
Interest rate (as a percent)	5.00%	5.00%
Long-term debt	$ 9,000	$ 9,000
First Lien Credit Facility
Debt Instrument [Line Items]
Interest rate (as a percent)	6.75%
Long-term debt	$ 435,000
Unamortized discount	$ (6,433)
Senior Term Loan
Debt Instrument [Line Items]
Interest rate (as a percent)		3.02%
Long-term debt		$ 170,645
Unamortized discount		$ (221)

Long-Term Debt and Subordinat46

Long-Term Debt and Subordinated Credit Facility (Details 2) $ in Thousands	Oct. 15, 2015USD ($)	Aug. 17, 2015USD ($)	Sep. 30, 2015USD ($)item	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)item	Sep. 30, 2014USD ($)
Long-term Debt
Loss on early extinguishment of debt			$ (703)	$ (476)	$ (703)	$ (476)
First Lien Credit Facility
Long-term Debt
Maximum net leverage ratio		7
Senior Term Loan
Long-term Debt
Amount repaid		$ 158,420
Amount outstanding			0		0
Loss on early extinguishment of debt		(703)
Term Loan | First Lien Credit Facility
Long-term Debt
Maximum borrowing capacity		$ 435,000
Term Loan | First Lien Credit Facility | Subsequent Event [Member]
Long-term Debt
Amount repaid	$ 112,500
Term Loan | Eurodollar rate | First Lien Credit Facility
Long-term Debt
Applicable margin over reference rate (as a percent)		4.50%
Term Loan | Base rate | First Lien Credit Facility
Long-term Debt
Applicable margin over reference rate (as a percent)		3.50%
Revolving Credit Facility | First Lien Credit Facility
Long-term Debt
Maximum borrowing capacity		$ 40,000	39,900		39,900
Fronting fee for letters of credit (as a percent)		0.125%
Amount drawn to trigger net leverage requirement (as a percent)		50.00%
Letters of credit outstanding			$ 100		$ 100
Number of outstanding letters of credit | item			2		2
Number of real property lease agreements secured by letters of credit | item					2
Fee on outstanding letters of credit (as a percent)					4.50%
Revolving Credit Facility | First Lien Credit Facility | Minimum
Long-term Debt
Unused commitment fee (as a percent)		0.375%
Revolving Credit Facility | First Lien Credit Facility | Maximum
Long-term Debt
Unused commitment fee (as a percent)		0.50%
Sellers Note
Long-term Debt
Promissory note			$ 9,000		$ 9,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income tax expense	$ 6,554	$ 4,751	$ 16,528	$ 7,084
Pre tax income	$ 21,314	$ 11,519	$ 49,404	$ 17,419
Effective income tax rate	30.70%	41.20%	33.50%	40.70%

Series A Preferred Stock (Detai

Series A Preferred Stock (Details) $ / shares in Units, $ in Thousands	Oct. 15, 2015shares	Aug. 17, 2015USD ($)shares	Sep. 30, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares
Temporary Equity [Line Items]
Preferred shares, par value (in dollars per share) | $ / shares			$ 0.001	$ 0.001
Change in Series A Preferred Stock
Balance at the beginning of the period (in shares) | shares			64,809
Balance at the end of the period (in shares) | shares			2,576	64,809
Balance at the beginning of the period | $			$ 58,250
Balance at the end of the period | $			$ 2,304	$ 58,250
Series A Preferred Stock
Temporary Equity [Line Items]
Preferred shares, par value (in dollars per share) | $ / shares			$ 0.001	$ 0.001
Preferred shares, liquidation preference per share | $ / shares			$ 1,000	$ 1,000
Temporary Equity liquidation preference dividend, percent			20	20
Change in Series A Preferred Stock
Balance at the beginning of the period (in shares) | shares			64,809
Less redemptions of preferred stock (in shares) | shares	(2,576)	(62,140)	(62,233)
Balance at the end of the period (in shares) | shares			2,576	64,809
Balance at the beginning of the period | $			$ 58,250
Less redemptions of preferred stock | $		$ (55,946)	(55,946)
Balance at the end of the period | $			$ 2,304	$ 58,250

Series A Preferred Stock (Det49

Series A Preferred Stock (Details 2) - USD ($) $ / shares in Units, $ in Thousands	Oct. 15, 2015	Aug. 17, 2015	Sep. 30, 2015
Series A Preferred Stock Redemption
Redemption value treated as dividend			$ 220,742
Series A Preferred Stock
Series A Preferred Stock Redemption
Shares redeemed	2,576	62,140	62,233
Total redemption value		$ 276,688
Redemption value treated as return of capital		55,946	$ 55,946
Redemption value treated as dividend		$ 220,742
Redemption Price (per share)	$ 4,610.68	$ 4,446.70
Series A Preferred Stock | Minimum
Series A Preferred Stock Redemption
Redemption Price (per share)			$ 3,950.33
Series A Preferred Stock | Maximum
Series A Preferred Stock Redemption
Redemption Price (per share)			$ 4,446.70
Series A Preferred Stock | Subsequent Event [Member]
Series A Preferred Stock Redemption
Total redemption value	$ 11,877

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Common Stock	Sep. 03, 2015	Sep. 30, 2015shares	Sep. 30, 2015$ / sharesshares
Class of Stock [Line Items]
Stock split	22
Shares issued | shares		0	0
Shares redeemed | shares		0	86,768
Minimum
Class of Stock [Line Items]
Common stock redemption value per share | $ / shares			$ 0.32
Maximum
Class of Stock [Line Items]
Common stock redemption value per share | $ / shares			$ 0.91

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator:
Net income from continuing operations		$ 14,760	$ 6,768	$ 32,876	$ 10,335
Preferred stock dividends		(7,096)	(10,692)	(32,454)	(31,672)
Income (loss) from continuing operations attributable to common stockholders		7,664	(3,924)	422	(21,337)
Income (loss) income from a discontinued operation, net of taxes			699	281	(2,064)
Net income (loss) available to common shareholders		$ 7,664	$ (3,225)	$ 703	$ (23,401)
Denominator:
Basic EPS - weighted average common shares outstanding		41,476,116	41,195,047	41,374,188	41,141,281
Basic EPS:
Income (loss) from continuing operations		$ 0.19	$ (0.10)	$ 0.01	$ (0.52)
Income (loss) income from a discontinued operation, net of taxes			0.02	0.01	(0.05)
Net income (loss)		$ 0.19	$ (0.08)	$ 0.02	$ (0.57)
Denominator:
Dilutive EPS - weighted average common shares outstanding		41,819,422	41,195,047	41,717,494	41,141,281
Income (loss) from continuing operations		$ 0.19	$ (0.10)	$ 0.01	$ (0.52)
Income (loss) income from a discontinued operation, net of taxes			0.02	0.01	(0.05)
Net income (loss)		$ 0.19	$ (0.08)	$ 0.02	$ (0.57)
Potential dilutive effect of stock options and restricted common stock				539,000
Series A Preferred Stock
Denominator:
Cumulative dividend in arrears	$ 9,573

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Loss Contingencies [Line Items]
Asset retirement obligation accretion expense	$ 6	$ 6
Other Long Term Liabilities
Loss Contingencies [Line Items]
Asset retirement obligation	$ 621		$ 911

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Number of shares
Balance at beginning of year (in shares)	627,000
Forfeited (in shares)	(99,000)
Balance at end of year (in shares)	528,000	627,000
Exercisable (in shares)	480,333
Weighted-Average Exercise Price
Balance at beginning of year (in dollars per share)	$ 0.0003
Forfeited (in dollars per share)	0.0003
Balance at end of year (in dollars per share)	0.0003	$ 0.0003
Exercisable at end of year (in dollars per share)	$ 0.0004
Weighted- Average Remaining Contractual Term (in Years)
Weighted-Average Remaining Contractual Term (in years)	5 years 10 months 10 days	6 years 5 months 9 days
Exercisable	5 years 8 months 5 days
Number of unvested options scheduled to vest
Unvested options (in shares)	47,667
2,015
Number of unvested options scheduled to vest
Unvested options (in shares)	7,334
2,016
Number of unvested options scheduled to vest
Unvested options (in shares)	40,333
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	2,090,000
Number of shares available for grant	1,562,000
Stock option expiration period	10 years
Number of shares
Granted (in shares)	0

Stock-Based Compensation (Det54

Stock-Based Compensation (Details 2) - Restricted shares $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares	Sep. 30, 2015USD ($)$ / sharesshares
Number of Restricted Stock Units
Granted (in shares) | shares		191,664
Restricted stock units outstanding at the end of the period (in shares) | shares	191,664	191,664
Weighted Average Grant Date Fair Value
Granted (in dollars per share) | $ / shares		$ 9.48
Restricted stock units outstanding at the end of the period (in dollars per shares) | $ / shares	$ 9.48	$ 9.48
Compensation expense | $	$ 323	$ 323
Unrecognized compensation expense | $	$ 1,494	$ 1,494
Period over which compensation expense expected to recognize		1 year 8 months 27 days
Minimum
Weighted Average Grant Date Fair Value
Vesting period		1 year
Maximum
Weighted Average Grant Date Fair Value
Vesting period		3 years

Phantom Stock Plan (Details)

Phantom Stock Plan (Details) - Phantom Stock Plan - USD ($) $ in Thousands	Oct. 15, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized units		100,000		100,000		100,000
Outstanding units		81,156		81,156		84,297
Fully vested units		13,088		13,088		13,088
Stock based compensation expense		$ 311	$ 2,604	$ 1,813	$ 2,013
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability settled	$ 13,268

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting
Revenues	$ 107,697	$ 77,374	$ 280,543	$ 173,141
EBITDA	29,756	16,681	69,391	31,639
U.S. Debit and Credit
Segment Reporting
EBITDA	23,368	11,180	59,961	22,170
U.S. Prepaid Debit
Segment Reporting
EBITDA	9,973	9,336	19,733	15,314
U.K. Limited
Segment Reporting
EBITDA	1,235	596	2,076	1,410
Other
Segment Reporting
EBITDA	(4,820)	(4,431)	(12,379)	(7,255)
Operating Segments | U.S. Debit and Credit
Segment Reporting
Revenues	72,785	43,069	196,190	92,339
Operating Segments | U.S. Prepaid Debit
Segment Reporting
Revenues	23,659	23,752	53,482	47,050
Operating Segments | U.K. Limited
Segment Reporting
Revenues	9,668	7,808	23,586	24,138
Operating Segments | Other
Segment Reporting
Revenues	3,995	6,310	13,917	17,493
Intersegment eliminations
Segment Reporting
Revenues	$ (2,410)	$ (3,565)	$ (6,632)	$ (7,879)

Segment Reporting (Details 2)

Segment Reporting (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reconciliation of total segment EBITDA to income before taxes
Total segment EBITDA	$ 29,756	$ 16,681	$ 69,391	$ 31,639
Depreciation and amortization	(3,818)	(3,215)	(11,858)	(8,829)
Interest, net	(4,624)	(1,947)	(8,129)	(5,391)
Income before income taxes	$ 21,314	$ 11,519	$ 49,404	$ 17,419

Segment Reporting (Details 3)

Segment Reporting (Details 3) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 289,311	$ 266,010
Discontinued operation		5,862
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	289,311	260,148
Operating Segments | U.S. Debit and Credit
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	219,484	200,572
Operating Segments | U.S. Prepaid Debit
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	25,998	20,183
Operating Segments | U.K. Limited
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	26,772	29,740
Operating Segments | Other
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 17,057	$ 9,653

Segment Reporting (Details 4)

Segment Reporting (Details 4) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total plant, equipment and leasehold improvement additions	$ 4,198	$ 5,806	$ 14,588	$ 12,384
Total long-lived assets	178,375		178,375		$ 177,276
U.S.
Segment Reporting Information [Line Items]
Total plant, equipment and leasehold improvement additions	3,625	5,705	13,598	12,000
Total long-lived assets	162,854		162,854		160,144
Canada
Segment Reporting Information [Line Items]
Total plant, equipment and leasehold improvement additions	136	3	417	25
Total long-lived assets	2,382		2,382		2,525
Total North America
Segment Reporting Information [Line Items]
Total plant, equipment and leasehold improvement additions	3,761	5,708	14,015	12,025
Total long-lived assets	165,236		165,236		162,669
U.K.
Segment Reporting Information [Line Items]
Total plant, equipment and leasehold improvement additions	437	$ 98	573	$ 359
Total long-lived assets	$ 13,139		$ 13,139		$ 14,607

Segment Reporting (Details 5)

Segment Reporting (Details 5) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Product net sales	$ 65,567	$ 43,267	$ 178,338	$ 102,172
Services net sales	42,130	34,107	102,205	70,969
Total net sales	107,697	77,374	280,543	173,141
U.S.
Segment Reporting Information [Line Items]
Total net sales	94,125	63,788	244,636	130,974
Canada
Segment Reporting Information [Line Items]
Total net sales	3,084	2,905	7,209	10,669
Total North America
Segment Reporting Information [Line Items]
Total net sales	97,209	66,693	251,845	141,643
U.K.
Segment Reporting Information [Line Items]
Total net sales	8,236	8,058	22,089	23,135
Other
Segment Reporting Information [Line Items]
Total net sales	$ 2,252	$ 2,623	$ 6,609	$ 8,363

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 15, 2015	Oct. 09, 2015	Aug. 17, 2015	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Subsequent Event [Line Items]
Number of common stock outstanding on completion of IPO				41,476,116	41,476,116	41,371,220
Common stock authorized				100,000,000	100,000,000	100,000,000
Phantom Stock Plan
Subsequent Event [Line Items]
Number of shares authorized				100,000	100,000	100,000
Stock Options
Subsequent Event [Line Items]
Number of shares authorized				2,090,000	2,090,000
Stock options granted (in shares)					0
Series A Preferred Stock
Subsequent Event [Line Items]
Total redemption value			$ 276,688
IPO | Other Assets
Subsequent Event [Line Items]
Deferred Offering expenses				$ 3,941	$ 3,941
IPO | Accrued Liabilities
Subsequent Event [Line Items]
Deferred Offering expenses				$ 1,804	$ 1,804
Common Stock
Subsequent Event [Line Items]
Shares issued in IPO				0	0
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of common stock outstanding on completion of IPO	56,476,116
Subsequent Event [Member] | Phantom Stock Plan
Subsequent Event [Line Items]
Liability settleted for outstanding obligation under Phantom Stock Plan	$ 13,268
Subsequent Event [Member] | Stock Options | Omnibus Plan
Subsequent Event [Line Items]
Number of shares authorized		4,000,000
Stock options granted (in shares)		770,450
Exercise price of options granted (in dollars per share)		$ 10
Subsequent Event [Member] | Stock Options | Omnibus Plan | Awards Vesting on October 9, 2017
Subsequent Event [Line Items]
Stock options vesting percent		33.40%
Subsequent Event [Member] | Stock Options | Omnibus Plan | Awards Vesting on October 9, 2018
Subsequent Event [Line Items]
Stock options vesting percent		33.30%
Subsequent Event [Member] | Stock Options | Omnibus Plan | Awards Vesting on October 9, 2019
Subsequent Event [Line Items]
Stock options vesting percent		33.30%
Subsequent Event [Member] | First Lien Credit Facility | Term Loan
Subsequent Event [Line Items]
Repayment of outstanding term loan	112,500
Subsequent Event [Member] | Series A Preferred Stock
Subsequent Event [Line Items]
Total redemption value	$ 11,877
Subsequent Event [Member] | IPO
Subsequent Event [Line Items]
Shares issued in IPO	15,000,000
IPO price per share	$ 10
Net proceeds from IPO	$ 142,500