Short answer
GPGI, Inc. (GPGI) filed its fiscal 2025 10-K annual report with the SEC on Mar 12, 2026. It reported revenue of $60M (−85.8% year over year) and net income of −$136M.
- Top risk flagged: Regulatory risk from potential litigation or regulatory actions related to cybersecurity data breaches under evolving data protection laws
FY2025 key financial metrics · XBRL
- Revenue
- $60M
- −85.8% YoY
- Net income
- −$136M
- −153.2% YoY
- Operating margin
- -23.0%
- −48.5 pp YoY
- Gross margin
- 48.1%
- −4.1 pp YoY
- EPS (diluted)
- −$1.23
- −0.8% YoY
- ROE
- -55.9%
- −93.4 pp YoY
- Operating cash flow
- −$23M
- −117.7% YoY
Source: XBRL data from the GPGI, Inc. (GPGI) FY2025 10-K on SEC EDGAR. USD.
GPGI, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core permanent capital platform owning CompoSecure (metal payment cards) and Husky (injection molding equipment) with Resolute Holdings managing operations
- New Husky segment added via $4.976B combination completed January 2026, expanding into injection molding for food, packaging, medical markets
- Shift from single business to diversified permanent capital platform; Resolute Operating System (ROS) deployed company-wide for consistent growth
- Employee count surged to ~5,600 post Husky acquisition, combining 971 CompoSecure and 4,556 Husky full-time employees as of Feb 2026
- Elimination of dual-share class and $372M Tungsten ownership transition in 2024; Husky transaction funded partly by $1.96B PIPE private placement
Management Discussion & Analysis
- Revenue $59.8M in 2025, down 86% YoY from $420.6M in 2024 due to February 2025 deconsolidation of Holdings
- Operating margin (23%) in 2025 vs 26% in 2024, gross margin 48% vs 52%, driven by deconsolidation impact
- Best performing segment: Holdings equity method earnings $128.8M in 2025; worst was consolidated operating loss $(13.7)M in 2025
- Other expense $212.1M in 2025 increased 12% YoY due to $208.1M non-cash earnout and warrant liability fair value losses
- Forward outlook notes economic and geopolitical risks may impact supply chain and customer demand; company emphasizes uncertainty in future results
Risk Factors
- Regulatory risk from potential litigation or regulatory actions related to cybersecurity data breaches under evolving data protection laws
- Geopolitical risk due to increased cybersecurity threat environment, with continuous monitoring for internal and external attacks on critical information systems
- Operational risk from dependency on CIO/CISO with 25+ years experience to manage and mitigate cybersecurity threats across all company systems
- Market risk from reputational damage and financial losses if cybersecurity incidents cause data breaches, impacting customer trust and competitive positioning
- Financial risk from potential litigation expenses and remediation costs following cyber incidents with no current material impact but significant future exposure
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.