GPGI, Inc. operates as a diversified holding company, focusing on the strategic acquisition, ownership, and growth of high-quality enterprises across various sectors. ...
GPGI, Inc. (NYSE: GPGI) is a diversified, multi-industry compounder that builds and owns companies with great positions in good industries. Headquartered in Somerset, New Jersey, the company was originally founded in 2000 as CompoSecure, Inc., and rebranded to GPGI, Inc. in January 2026 after a business combination with Husky Technologies. ...GPGI, Inc. (NYSE: GPGI) is a diversified, multi-industry compounder that builds and owns companies with great positions in good industries. Headquartered in Somerset, New Jersey, the company was originally founded in 2000 as CompoSecure, Inc., and rebranded to GPGI, Inc. in January 2026 after a business combination with Husky Technologies. The platform is managed by Resolute Holdings Management, Inc. (NYSE: RHLD).
GPGI operates through two primary business segments. The CompoSecure business provides premium metal payment cards, security, and authentication technologies, serving financial institutions and high-end clients. Husky Technologies is a leading global producer of injection molding machinery, hot runners, and integrated systems, particularly for the packaging and consumer goods industries. Together, these businesses generate revenue through product sales, licensing, and long-term service contracts.
As of December 31, 2025, GPGI employs approximately 971 full-time employees, with a market capitalization around $4.3 billion (as of the latest data). The company's stock trades on the New York Stock Exchange under the ticker 'GPGI'. Key leadership includes CEO Jonathan C. Wilk, along with divisional presidents: Graham Robinson as President and CEO of CompoSecure, and Robert Domodossola as President and CEO of Husky Technologies.
Financially, GPGI has a complex profile with negative margins and returns in the trailing twelve months, reflecting the integration costs and restructuring after the merger. The company shows a book value per share of approximately $24.54, but has negative operating cash flow and free cash flow, indicating near-term challenges. However, the firm maintains a relatively low debt-to-equity ratio and is focused on long-term value creation through its 'great positions in good industries' strategy. The company is committed to leveraging its platform to acquire additional high-quality businesses over time, aiming to compound shareholder value.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$59.8M
-85.8%
—
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-136.0M
-153.2%
+121.4%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+48.1%
-7.8%
—
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-23.0%
-189.7%
—
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-227.3%
-1679.9%
—
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-23.3M
-119.4%
+328.5%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-38.9%
-236.3%
—
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
0.0%
+100.0%
—
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
6.33x
+177.9%
+23.9%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, and thank you for standing by. Welcome to the GPGI Second Quarter Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to our first speaker today, Dave Marshall. Please go ahead.
David Marshall: Good morning, and welcome to GPGI's second quarter conference call. This morning's remarks will include forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially, including those disclosed in our SEC filings available at sec.gov and on our IR website. Additionally, definitions and reconciliations of non-GAAP measures used today appear in today's press release and earnings presentation, which are available in our SEC filings and on our IR website. As a reminder, following the Resolute Holdings spin-off, GPGI accounts for GPGI Holdings, including our CompoSecure and Husky businesses under the equity method of accounting in accordance with GAAP. With that, I will turn over the call to Executive Chairman, Dave Cote.
David Cote: Good morning, everyone. GPGI continues to execute with discipline and focus with our customers at the center of everything we do. In the second quarter, we continued to see progress across the platform and delivered results that were consistent with both our expectations and the guidance range we introduced last quarter. The results were driven by continued strength at CompoSecure and some indications of relief as we continue to navigate transient market headwinds at Husky. Starting with CompoSecure, we're seeing the continued transformative impact of ROS on growth and operations, delivering record sales, strong operating performance and both year-over-year and sequential margin expansion. With robust demand from a broadening base of customers, CompoSecure is well positioned to continue accelerating organic growth and improving profitability in the second half of the year. CompoSecure is 1 year ahead of Husky in the deployment of ROS, and we are seeing how cultivating a high-performance culture and making strategic investments enable a sustained inflection in financial performance. Turning to Husky. We're navigating through transient market headwinds caused by volatile resin prices and shipping disruptions related to the conflict in the Middle East and continued tariff uncertainty. The macro environment has improved marginally since we last spoke to you as oil and resin prices have come off their previous peaks set in late April, and our customers are beginning to have a bit more confidence in making purchase decisions. However, the second quarter was still impacted by macro uncertainty, and we're beginning to see pockets of demand recovery and continue to expect a strong second half that is consistent with historic seasonal trends. In addition to demand gradually returning, we expect improved operating leverage and discrete cost actions to drive …
