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Net Sales | 6 Months Ended
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Jun. 30, 2024
Net Sales. |
Net Sales | 2. Net Sales The Company disaggregates its net sales by major source as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Three Months Ended June 30, 2024
​ | Products | ​ | Services | ​ | Total
Debit and Credit | $ | 64,461 | ​ | $ | 31,159 | ​ | $ | 95,620
Prepaid Debit | ​ | — | ​ | ​ | 23,815 | ​ | ​ | 23,815
Intersegment eliminations | ​ | (617) | ​ |  | — | ​ |  | (617)
Total | $ | 63,844 | ​ | $ | 54,974 | ​ | $ | 118,818
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Six Months Ended June 30, 2024
​ | Products | ​ | Services | ​ | Total
Debit and Credit | $ | 122,832 | ​ | $ | 60,761 | ​ | $ | 183,593
Prepaid Debit | ​ | — | ​ | ​ | 48,013 | ​ | ​ | 48,013
Intersegment eliminations | ​ | (830) | ​ |  | (22) | ​ |  | (852)
Total | $ | 122,002 | ​ | $ | 108,752 | ​ | $ | 230,754
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Three Months Ended June 30, 2023
​ | Products | ​ | Services | ​ | Total
Debit and Credit | $ | 64,001 | ​ | $ | 29,193 | ​ | $ | 93,194
Prepaid Debit | ​ | — | ​ | ​ | 21,821 | ​ | ​ | 21,821
Intersegment eliminations | ​ | (55) | ​ |  | — | ​ |  | (55)
Total | $ | 63,946 | ​ | $ | 51,014 | ​ | $ | 114,960
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Six Months Ended June 30, 2023
​ | Products | ​ | Services | ​ | Total
Debit and Credit | $ | 140,033 | ​ | $ | 55,146 | ​ | $ | 195,179
Prepaid Debit | ​ | — | ​ | ​ | 40,951 | ​ | ​ | 40,951
Intersegment eliminations | ​ | (297) | ​ |  | (21) | ​ |  | (318)
Total | $ | 139,736 | ​ | $ | 96,076 | ​ | $ | 235,812
​ Products Net Sales ​ “Products” net sales are recognized when obligations under the terms of a contract with a customer are satisfied. In most instances, this occurs over time as cards are produced for specific customers and have no alternative use and the Company has an enforceable right to payment for work performed. For work performed but not completed and unbilled, the Company estimates revenue by taking actual costs incurred and applying historical margins for similar types of contracts. Items included in “Products” net sales are the design and production of Financial Payment Cards, including contact-EMV®, contactless dual-interface EMV, contactless and magnetic stripe cards, CPI’s eco-focused solutions, including Second Wave® and Earthwise® cards made with upcycled plastic, metal cards, private label credit cards and retail gift cards. Card@Once® printers and consumables are also included in “Products” net sales, and their associated revenues are recognized at the time of shipping. The Company includes gross shipping and handling revenue in net sales, and shipping and handling costs in cost of sales. Europay, Mastercard and Visa (“EMV®”) is a global technical standard maintained by EMV Co, LLC. EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMV Co, LLC. ​ Services Net Sales Net sales are recognized for “Services” as the services are performed. Items included in “Services” net sales include the personalization and fulfillment of Financial Payment Cards, providing tamper-evident secure packaging and fulfillment services to Prepaid Debit Card program managers, and software-as-a-service personalization of instant issuance debit cards. As applicable, for work performed but not completed and unbilled, the Company estimates revenue by taking actual costs incurred and applying historical margins for similar types of contracts. Customer Contracts The Company often enters into Master Services Agreements (“MSAs”) with its customers. Generally, enforceable rights and obligations for goods and services occur only when a customer places a purchase order or statement of work to obtain goods or services under an MSA. The contract term as defined by ASC 606, Revenue from Contracts with Customers, is the length of time it takes to deliver the goods or services promised under the purchase order or statement of work. As such, the Company's contracts are generally short term in nature. Costs to Obtain a Contract with a Customer Costs to obtain a contract (“contract costs”) include only those costs incurred to obtain a contract that the Company would not have incurred if the contract had not been obtained. For contracts where the term is greater than one year, these costs are recorded as an asset and amortized consistent with the timing of the related revenue over the life of the contract. The current portion of the asset is included in “prepaid expenses and other current assets” and the noncurrent portion is included in “other assets” on the Company's condensed consolidated balance sheets. Contract costs incurred but unpaid are included in “accrued expenses” on the Company's condensed consolidated balance sheets. Contract costs are expensed as incurred when the amortization period is one year or less.

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