Q1 2025 Cimpress PLC Earnings Call Transcript
Key Points
- Cimpress PLC (CMPR) reported a 6% growth in consolidated revenue on both a reported and organic constant currency basis.
- The company is continually improving customer experience through enhancements in product development and service processes.
- Cimpress PLC (CMPR) is driving efficiency and improving quality across its production facilities, which is reducing costs and improving delivery speed.
- The company is experiencing strong growth in new product categories such as flexible and corrugated packaging, with growth rates over 25% annually.
- Cimpress PLC (CMPR) has successfully strengthened its balance sheet by reducing leverage and extending debt maturities, while also repurchasing shares at attractive valuations.
- Adjusted EBITDA declined slightly year over year in Q1, impacted by increased operating expenses.
- Despite revenue growth, profitability did not increase due to flat gross margins and higher advertising spend.
- Free cash flow was lower year over year, driven by higher outflows from changes in working capital and increased cash interest payments.
- The company faces a modest ongoing revenue headwind in its mature product categories, such as business cards and consumer products.
- Currency fluctuations resulted in realized losses on currency hedges, impacting financial results.
Welcome to the Cimpress Q1 fiscal year 2025 earnings call. I will introduce MEREDITH Burns, Vice President of Investor Relations and sustainability.
Thank you, Michelle and thank you everyone for joining us and Happy Halloween. To those who celebrate with us today are Robert Keane, our founder, Chairman and Chief Executive Officer and Sean Quinn EVP and Chief Financial Officer. We appreciate the time that you've dedicated to understand our results, commentary and outlook. This live Q&A session will last about 45 minutes and we'll answer both presubmitted and live questions. You can submit questions via the live questions and answers box at the bottom left of the screen. Before we start, I'll note that in this session, we will make statements about the future. Our actual results may differ materially from these statements due to risk factors that are outlined in detail in our sec filings and the documents we published yesterday on our website. We have also published non-GAAP reconciliations for our financial
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