GPGI, Inc. GPGI
GPGI, Inc. (formerly CompoSecure, Inc.) ("GPGI" and, together with its subsidiaries as the context requires, the "Company," "we", "us" or "our"), is a permanent capital platform designed to acquire, own, and scale high-quality businesses that hold "great positions in good industries." The operations, capital allocation, and strategy of our operating businesses are managed by Resolute Holdings Management, Inc. (NYSE: RHLD) ("Resolute Holdings"), an entity that was initially formed as a wholly owned subsidiary of the Company and was subsequently spun off to the Company's shareholders on a pro rata basis. This management structure is designed to eliminate the constraints found in traditional structures to attract great operators to lead and manage each business within GPGI. The leaders of each operating business benefit from the support and experience of Resolute Holdings, allowing them to focus on operating their respective businesses. We are focused on systematically deploying the Resolute Operating System ("ROS") across the Company, which we believe will instill a high-performance culture and drive continuous improvement at each business, resulting in more consistent growth, earnings, and returns for shareholders of GPGI.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- Domestic
- International
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Domestic | $54.5M | $343.5M | $321.5M |
| International | $5.3M | $77.1M | $69.2M |
As the company reported it, from the “GEOGRAPHIC INFORMATION AND CONCENTRATIONS - Geographical Revenue Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $59.8M | $420.6M | $390.6M | $378.5M | $267.9M | $260.6M | $243.3M | — |
| Cost of revenue | $31.1M | $201.3M | $181.5M | $158.8M | $123.1M | $128.0M | $115.4M | — |
| Gross profit | $28.7M | $219.2M | $209.1M | $219.6M | $144.8M | $132.6M | $127.9M | — |
| R&D | $1.3M | $7.4M | $6.8M | $6.7M | $2.7M | — | — | — |
| SG&A | $42.5M | $111.6M | $90.0M | $104.7M | $63.4M | $48.7M | $40.6M | — |
| Operating income | -$13.7M | $107.6M | $119.1M | $114.9M | $81.4M | $84.0M | $86.9M | — |
| Interest expense | $1.7M | $20.2M | $27.5M | $21.4M | — | — | — | — |
| Pre-tax income | -$225.8M | -$81.0M | $117.1M | $136.2M | $82.6M | $77.8M | $81.5M | — |
| Income tax | $39.0M | $2.2M | $4.6M | $4.4M | $857.0K | $0 | $0 | — |
| Net income | -$136.0M | -$83.2M | $112.5M | $18.7M | $3.2M | $77.8M | $81.5M | — |
| EPS, basic | -1.23 | -1.22 | 1.03 | 1.21 | 0.21 | — | — | — |
| EPS, diluted | -1.23 | -1.22 | 0.96 | 1.13 | 0.12 | — | — | — |
| Shares, diluted (wtd. avg.) | 110.5M | 44.0M | 35.3M | 32.6M | 94.6M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $114.6M | $77.5M | $41.2M | $13.6M | $21.9M | $13.4M | $26.7M | $13.0M |
| Receivables | $0 | $47.4M | $40.5M | $37.3M | $27.9M | $8.8M | — | — |
| Inventory | $0 | $44.8M | $52.5M | $42.4M | $25.8M | $30.2M | — | — |
| Total current assets | $120.1M | $173.9M | $139.4M | $97.1M | $78.3M | $53.5M | — | — |
| Property, plant and equipment | $0 | $23.4M | $25.2M | $22.7M | $22.2M | $27.9M | — | — |
| Total assets | $517.3M | $473.9M | $201.0M | $162.9M | $131.4M | $81.4M | — | — |
| Accounts payable | $922.0K | $11.5M | $5.2M | $7.1M | $7.1M | $2.4M | — | — |
| Short-term debt | $0 | $11.2M | $10.3M | $14.4M | $12.5M | $24.0M | — | — |
| Total current liabilities | $19.0M | $76.3M | $41.0M | $47.4M | $60.5M | $41.6M | — | — |
| Long-term debt | — | $184.4M | $326.2M | $343.6M | $360.0M | $211.9M | — | — |
| Total liabilities | $274.1M | $617.4M | $406.8M | $454.9M | $539.0M | $273.9M | — | — |
| Retained earnings | -$451.1M | -$507.4M | -$846.8M | -$924.6M | -$1.03B | -$198.7M | — | — |
| Total equity | $243.1M | -$143.4M | -$802.4M | -$892.2M | -$1.02B | -$192.6M | -$55.5M | -$34.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$22.9M | $129.6M | $104.3M | $92.8M | $77.8M | $87.1M | $81.2M | — |
| Depreciation and amortisation | $1.6M | $9.2M | $8.4M | $8.6M | $10.4M | $9.9M | $8.6M | — |
| Stock-based compensation | $4.5M | $21.2M | $17.6M | $11.5M | $6.1M | $1.8M | $1.7M | — |
| Capital expenditure | $0 | $7.4M | $10.9M | $9.1M | $4.7M | $7.5M | $9.6M | — |
| Investing cash flow | -$60.7M | -$9.9M | -$10.9M | -$9.1M | -$4.7M | -$7.5M | -$9.6M | — |
| Financing cash flow | $120.8M | -$83.4M | -$65.8M | -$92.0M | -$64.5M | -$92.9M | -$57.8M | — |
| Dividends paid | $0 | $8.9M | $0 | $0 | — | — | — | — |
| Buybacks | $12.2M | $0 | $0 | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-048561.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $243.3M | $260.6M | $267.9M | $378.5M | $390.6M | $420.6M | $59.8M |
| Gross profit | — | $127.9M | $132.6M | $144.8M | $219.6M | $209.1M | $219.2M | $28.7M |
| Net income | — | $81.5M | $77.8M | $3.2M | $18.7M | $112.5M | -$83.2M | -$136.0M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Other event Item 8.01
- Shareholder vote Item 5.07
- Results announced Item 2.02
- Other event Item 8.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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