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Side-by-side financial comparison of CPI Card Group Inc. (PMTS) and Vericel Corp (VCEL). Click either name above to swap in a different company.
CPI Card Group Inc. is the larger business by last-quarter revenue ($153.1M vs $92.9M, roughly 1.6× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs 4.8%, a 20.2% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 22.3%). CPI Card Group Inc. produced more free cash flow last quarter ($35.2M vs $12.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 16.9%).
CPI Card Group Inc. is a leading provider of payment card production and associated solutions, including contactless and contact credit/debit cards, prepaid cards, and card personalization services. It primarily serves financial institutions, fintech firms, and retail brands across its core North American market.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
PMTS vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $153.1M | $92.9M |
| Net Profit | $7.3M | $23.2M |
| Gross Margin | 31.5% | 78.7% |
| Operating Margin | 12.0% | 24.1% |
| Net Margin | 4.8% | 25.0% |
| Revenue YoY | 22.3% | 23.3% |
| Net Profit YoY | 8.5% | 17.3% |
| EPS (diluted) | $0.62 | $0.46 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $153.1M | $92.9M | ||
| Q3 25 | $138.0M | $67.5M | ||
| Q2 25 | $129.8M | $63.2M | ||
| Q1 25 | $122.8M | $52.6M | ||
| Q4 24 | $125.1M | $75.4M | ||
| Q3 24 | $124.8M | $57.9M | ||
| Q2 24 | $118.8M | $52.7M | ||
| Q1 24 | $111.9M | $51.3M |
| Q4 25 | $7.3M | $23.2M | ||
| Q3 25 | $2.3M | $5.1M | ||
| Q2 25 | $518.0K | $-553.0K | ||
| Q1 25 | $4.8M | $-11.2M | ||
| Q4 24 | $6.8M | $19.8M | ||
| Q3 24 | $1.3M | $-901.0K | ||
| Q2 24 | $6.0M | $-4.7M | ||
| Q1 24 | $5.5M | $-3.9M |
| Q4 25 | 31.5% | 78.7% | ||
| Q3 25 | 29.7% | 73.5% | ||
| Q2 25 | 30.9% | 73.7% | ||
| Q1 25 | 33.2% | 69.0% | ||
| Q4 24 | 34.1% | 77.6% | ||
| Q3 24 | 35.8% | 71.9% | ||
| Q2 24 | 35.7% | 69.5% | ||
| Q1 24 | 37.1% | 68.9% |
| Q4 25 | 12.0% | 24.1% | ||
| Q3 25 | 9.4% | 5.1% | ||
| Q2 25 | 7.3% | -3.2% | ||
| Q1 25 | 11.5% | -24.3% | ||
| Q4 24 | 12.7% | 24.5% | ||
| Q3 24 | 14.3% | -4.3% | ||
| Q2 24 | 12.5% | -11.5% | ||
| Q1 24 | 12.6% | -10.7% |
| Q4 25 | 4.8% | 25.0% | ||
| Q3 25 | 1.7% | 7.5% | ||
| Q2 25 | 0.4% | -0.9% | ||
| Q1 25 | 3.9% | -21.4% | ||
| Q4 24 | 5.4% | 26.3% | ||
| Q3 24 | 1.0% | -1.6% | ||
| Q2 24 | 5.1% | -8.9% | ||
| Q1 24 | 4.9% | -7.5% |
| Q4 25 | $0.62 | $0.46 | ||
| Q3 25 | $0.19 | $0.10 | ||
| Q2 25 | $0.04 | $-0.01 | ||
| Q1 25 | $0.40 | $-0.23 | ||
| Q4 24 | $0.56 | $0.40 | ||
| Q3 24 | $0.11 | $-0.02 | ||
| Q2 24 | $0.51 | $-0.10 | ||
| Q1 24 | $0.46 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $21.7M | $137.5M |
| Total DebtLower is stronger | $286.7M | — |
| Stockholders' EquityBook value | $-17.3M | $354.6M |
| Total Assets | $403.2M | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.7M | $137.5M | ||
| Q3 25 | $16.0M | $135.4M | ||
| Q2 25 | $17.1M | $116.9M | ||
| Q1 25 | $31.5M | $112.9M | ||
| Q4 24 | $33.5M | $116.2M | ||
| Q3 24 | $14.7M | $101.7M | ||
| Q2 24 | $7.5M | $102.5M | ||
| Q1 24 | $17.1M | $110.6M |
| Q4 25 | $286.7M | — | ||
| Q3 25 | $308.4M | — | ||
| Q2 25 | $310.9M | — | ||
| Q1 25 | $280.7M | — | ||
| Q4 24 | $280.4M | — | ||
| Q3 24 | $280.2M | — | ||
| Q2 24 | $269.7M | — | ||
| Q1 24 | $265.3M | — |
| Q4 25 | $-17.3M | $354.6M | ||
| Q3 25 | $-25.7M | $321.9M | ||
| Q2 25 | $-29.0M | $306.8M | ||
| Q1 25 | $-29.7M | $295.5M | ||
| Q4 24 | $-35.6M | $292.0M | ||
| Q3 24 | $-42.8M | $257.5M | ||
| Q2 24 | $-44.6M | $243.0M | ||
| Q1 24 | $-48.5M | $233.9M |
| Q4 25 | $403.2M | $488.0M | ||
| Q3 25 | $407.1M | $453.3M | ||
| Q2 25 | $399.8M | $435.6M | ||
| Q1 25 | $351.9M | $424.6M | ||
| Q4 24 | $349.7M | $432.7M | ||
| Q3 24 | $342.3M | $390.4M | ||
| Q2 24 | $321.4M | $376.8M | ||
| Q1 24 | $319.8M | $356.7M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $39.6M | $15.0M |
| Free Cash FlowOCF − Capex | $35.2M | $12.8M |
| FCF MarginFCF / Revenue | 23.0% | 13.8% |
| Capex IntensityCapex / Revenue | 2.9% | 2.4% |
| Cash ConversionOCF / Net Profit | 5.39× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $41.3M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $39.6M | $15.0M | ||
| Q3 25 | $10.0M | $22.1M | ||
| Q2 25 | $4.3M | $8.2M | ||
| Q1 25 | $5.6M | $6.6M | ||
| Q4 24 | $26.7M | $22.2M | ||
| Q3 24 | $12.5M | $10.2M | ||
| Q2 24 | $-4.8M | $18.5M | ||
| Q1 24 | $8.9M | $7.2M |
| Q4 25 | $35.2M | $12.8M | ||
| Q3 25 | $5.3M | $19.5M | ||
| Q2 25 | $533.0K | $81.0K | ||
| Q1 25 | $292.0K | $-7.6M | ||
| Q4 24 | $21.6M | $8.5M | ||
| Q3 24 | $11.1M | $-9.2M | ||
| Q2 24 | $-6.0M | $1.8M | ||
| Q1 24 | $7.4M | $-6.8M |
| Q4 25 | 23.0% | 13.8% | ||
| Q3 25 | 3.8% | 28.8% | ||
| Q2 25 | 0.4% | 0.1% | ||
| Q1 25 | 0.2% | -14.5% | ||
| Q4 24 | 17.3% | 11.2% | ||
| Q3 24 | 8.9% | -15.9% | ||
| Q2 24 | -5.0% | 3.4% | ||
| Q1 24 | 6.6% | -13.3% |
| Q4 25 | 2.9% | 2.4% | ||
| Q3 25 | 3.4% | 3.9% | ||
| Q2 25 | 2.9% | 12.9% | ||
| Q1 25 | 4.3% | 27.0% | ||
| Q4 24 | 4.0% | 18.3% | ||
| Q3 24 | 1.2% | 33.5% | ||
| Q2 24 | 1.0% | 31.8% | ||
| Q1 24 | 1.3% | 27.3% |
| Q4 25 | 5.39× | 0.65× | ||
| Q3 25 | 4.32× | 4.35× | ||
| Q2 25 | 8.39× | — | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 3.94× | 1.12× | ||
| Q3 24 | 9.70× | — | ||
| Q2 24 | -0.79× | — | ||
| Q1 24 | 1.63× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
