Reports Q1 revenue $805.0M, two estimates $798.9M. The company states: “Cimpress (CMPR) delivered solid results in the first quarter of fiscal year 2025. Operationally, we continued the strong progress demonstrated in the prior fiscal year with improvements in customer value and new product introduction. Financially, strong revenue growth at Vista bolstered consolidated revenue and adjusted EBITDA declined slightly compared to last year inclusive of negative currency impacts. As previously announced, in September we successfully completed an offering of $525 million of 7.375% senior notes due 2032 and used the proceeds, along with cash on hand, to redeem our prior senior notes due in 2026 and pay associated interest and all related financing fees. We concurrently extended the maturity and amended the interest rate of our existing revolving credit facility. These steps, combined with the substantial reduction in net leverage since its peak in December 2022, have significantly strengthened our balance sheet and debt maturity profile. Importantly, we have done this while allocating capital to significant organic growth investments as we described in our July 2024 letter to investors and $168 million of share repurchases over the last three quarters. Our outlook, leverage, and capital allocation priorities remain unchanged from the detailed commentary we provided with Q4 FY2024 results and in our September 10, 2024 investor day commentary. We remain confident in our ability to continue to grow constant-currency organic revenue, adjusted EBITDA and adjusted free cash flow over the coming multi-year period in line with that more detailed guidance. Also consistent with past commentary, we expect to reduce net leverage by the end of FY2025. If we continue to have attractive opportunities for share repurchases, we expect to exit the fiscal year with net leverage at or below approximately 2.75x trailing twelve month EBITDA as defined by our credit agreement.”
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