Cimpress Reports 2% Revenue Increase to $939.2 Million in Q2 FY2025

Cimpress plc reported a revenue increase of 2% for the second quarter of fiscal year 2025, totaling $939.2 million, compared to $921.4 million in the same period last year. For the first half of the fiscal year, revenue rose by 4% to $1.74 billion, up from $1.68 billion. The company’s net income attributable to Cimpress plc for the quarter was $61.1 million, or $2.36 per diluted share, reflecting an increase from $58.1 million, or $2.14 per diluted share, in the prior year. However, operating income decreased to $80.9 million from $107.7 million year-over-year, primarily due to non-recurring benefits from the previous year and increased operational costs.

The financial performance was impacted by several factors, including a decline in revenue from business cards and consumer-focused products during the holiday season, exacerbated by postal strikes in Canada. The company also faced challenges from a shortened holiday buying season and increased advertising expenses. Despite these challenges, Cimpress saw strong revenue growth in its Vista segment, particularly in complex products such as promotional items and packaging. The PrintBrothers and The Print Group segments also contributed positively to revenue growth.

Cimpress has made strategic moves, including the issuance of $525 million in senior unsecured notes due 2032, which were used to redeem existing senior notes due 2026. The company also repurchased 657,193 ordinary shares for $53 million during the six months ended December 31, 2024. Additionally, Cimpress implemented changes to its inter-segment transaction methodology, which did not affect consolidated results but aimed to enhance comparability across reporting periods.

Operationally, Cimpress reported a decrease in adjusted EBITDA to $132.3 million for the quarter, down from $166.5 million in the previous year. The company’s total assets increased to $1.92 billion as of December 31, 2024, compared to $1.89 billion at the end of June 2024. The total liabilities also rose to $2.45 billion, up from $2.42 billion, with long-term debt slightly decreasing to $1.58 billion. The company’s cash and cash equivalents stood at $224.4 million, reflecting a net increase of $20.7 million during the quarter.

Looking ahead, Cimpress anticipates continued revenue growth driven by its mass customization strategy, although it acknowledges potential challenges from market conditions and operational costs. The company remains focused on leveraging its technology and expanding its product offerings to enhance customer engagement and drive profitability.