Cimpress Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 10% to $3.74B in FY26, with Adjusted EBITDA up 6% to $458.5M. Raised FY28 Adjusted EBITDA target to at least $615M, driven by organic growth, M&A, and a new Canva partnership. Net leverage is set to fall below 2.0x by FY28.
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The company is targeting mid-single-digit organic growth and at least $600 million adjusted EBITDA by FY 2028, driven by technology modernization, product expansion, and operational efficiencies. Capital allocation prioritizes organic investment, tuck-in M&A, and share repurchases, with leverage expected to fall below 2x.
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The company is expanding its leadership in web-to-print mass customization, targeting 9%-10% revenue growth and at least $465 million in adjusted EBITDA this year, with a goal of $600 million by FY 2028. Strategic investments in technology, elevated products, and AI-driven efficiencies are driving growth and profitability.
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Raised FY 2026 revenue and profit guidance after strong Q3 results, with adjusted EBITDA up 11% year-over-year and continued progress toward FY 2028 targets. Recent acquisitions and operational efficiencies are driving growth, while cost and currency impacts are being managed.
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Record Q2 revenue exceeded $1 billion, prompting raised full-year guidance for revenue, EBITDA, and free cash flow. Growth was driven by elevated products, manufacturing efficiencies, and strong North American performance, with continued focus on cost reduction and strategic M&A.
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Q1 FY2026 delivered strong revenue and record Q1 EBITDA, driven by elevated products, operational efficiencies, and technology investments. Guidance for FY2026 and FY2028 was reiterated, with continued focus on deleveraging and capital allocation.
Fiscal Year 2025
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The business is leveraging mass customization and expanding product offerings to drive growth, focusing on higher-value customers and operational efficiency. FY2028 targets include at least $600 million adjusted EBITDA and sub-2x net leverage, supported by investments in manufacturing, AI, and cost savings. Tariff impacts are contained, and capital allocation remains disciplined.
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Elevated products and technology investments are transforming the business, driving higher customer value, cost efficiencies, and growth. The company targets at least $600 million EBITDA by FY28, with significant deleveraging and continued innovation in manufacturing, AI, and cross-business fulfillment.
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Q4 and FY 2025 results show growth in elevated product categories offsetting legacy declines, with strong gains in promotional products and apparel. FY 2026 guidance anticipates continued revenue and profit growth, supported by ongoing investments and cost efficiencies.
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Revenue grew modestly, driven by strong gains in elevated product categories, while legacy products and tariff-related headwinds weighed on growth and profitability. Guidance was withdrawn due to tariff uncertainty, but liquidity and capital allocation flexibility remain strong.
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Q2 results were disappointing due to U.S. market weakness, higher advertising costs, and one-time impacts, but management remains confident in long-term growth. Guidance was reset, with H2 revenue expected to grow at least 4% and adjusted EBITDA at least $220 million.
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Profitable growth has been driven by mass customization, technology modernization, and scale advantages, with Vista and upload/print segments leading recent gains. Strategic capital allocation, focus on SMBs, and a large, fragmented market support continued growth and margin expansion.
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Revenue grew 6% year-over-year in Q1 FY25, but adjusted EBITDA declined slightly due to higher OPEX and advertising. Strong growth in complex products and continued share repurchases support confidence in record FY25 results, despite some holiday season uncertainties.
Fiscal Year 2024
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The company has delivered strong, profitable growth through mass customization, technology investments, and a broad product offering. Financial performance is robust, with a focus on organic growth, disciplined capital allocation, and limited M&A. Market share gains are expected to continue, supported by operational scale and a resilient demand environment.
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Record financial results in FY24 were driven by investments in technology, product expansion, and operational efficiency, with strong growth in complex product categories and improved profitability across all segments. The company targets mid-single-digit organic revenue growth, ongoing innovation, and sustainability, while maintaining disciplined capital allocation and reduced leverage.
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Q4 and FY2024 delivered strong revenue and EBITDA growth, with record free cash flow and improved margins. Share repurchases reduced leverage, and increased CapEx is planned for FY2025 to enhance production and product offerings.