Cimpress (CMPR) Q1 2027 earnings summary

Executive summary

• Q1 FY27 revenue rose 8% to $934.1M, but organic constant-currency growth was 2%; adjusted EBITDA fell 9% to $89.8M.

• FY27 and FY28 targets remain unchanged; accelerated cost reductions are intended to protect profit and cash flow goals.

• Profit and cash flow growth is expected to build from Q2 through H2 FY27 and continue into FY28.

Financial highlights

• Revenue was $934.1M, up 8% reported and 2% organic constant currency; acquisitions contributed $57.3M of reported growth.

• Adjusted EBITDA decreased $8.9M to $89.8M; operating income fell $23.0M to $26.0M, and net loss attributable to shareholders was $2.7M.

• Adjusted free cash flow outflow narrowed $8.5M YoY to $9.3M; operating cash flow increased $3.9M to $28.9M.

• Cost of revenue was $525.9M, or 56.3% of revenue versus 53.3%; it included $7.5M of tariff refunds and $4.2M of incremental tariff costs.

• Diluted EPS was a loss of $0.11 versus income of $0.30; income tax expense was $6.6M versus $17.8M.

Outlook and guidance

• FY27 guidance maintained: reported revenue growth of at least 7%, organic constant-currency growth of at least 3%, adjusted EBITDA of at least $520M, and adjusted free cash flow of ~$200M.

• FY28 targets remain 4%–6% organic constant-currency growth, adjusted EBITDA of at least $615M, and adjusted free cash flow conversion of ~45% of EBITDA.

• FY27 EBITDA bridge includes $18M–$21M from tuck-in M&A, $5M–$10M from currency, and ~$25M of in-year cost savings.

• Startup costs are expected to ease in H2; savings and acquisition benefits should build through the year, with accelerated cost actions providing protection if organic growth remains weak.

• Net leverage is expected to reach ~2.5x at FY27 year-end and meaningfully below 2.0x at FY28 year-end, subject to capital allocation choices.