GPGI on NYSE
GPGI, Inc.
American finance services company, incorporated in Delaware.
Price unavailable
Last updated Oct 18, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
48.1%Gross margin3
-23.0%Operating margin3
-227.3%Net margin3
-85.8%Revenue growth, 20253
-55.9%Return on equity3
-$22.9MFree cash flow3
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Regions
United States brought in 91% of the revenue GPGI, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $321.5M | $343.5M | $54.5M |
| Outside the United States | $69.2M | $77.1M | $5.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue44¢$31.1M
- Research and development2¢$1.3M
- Income tax55¢$39.0M
Out of $59.8M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net sales | $59.8M | $420.6M | $390.6M |
| Cost of sales | $31.1M | $201.3M | $181.5M |
| Gross profit | $28.7M | $219.2M | $209.1M |
| Selling, general and administrative expenses | $42.5M | $111.6M | $90.0M |
| (Loss) income from operations | -$13.7M | $107.6M | $119.1M |
| Revaluation of warrant liability | -$151.0M | -$95.9M | $8.0M |
| Revaluation of earnout consideration liability | -$57.1M | -$76.3M | $14.2M |
| Change in fair value of derivative liability - convertible notes redemption make-whole provision | $0 | $425.0K | -$139.0K |
| Loss on remeasurement of TRA liability | -$3.5M | $0 | $0 |
| Interest income | $1.2M | $4.6M | $5.0M |
| Interest expense | -$1.7M | -$20.2M | -$27.5M |
| Loss on extinguishment of debt | $0 | -$148.0K | $0 |
| Amortization of deferred financing costs | -$74.0K | -$1.1M | -$1.6M |
| Total other expense, net | -$212.1M | -$188.6M | -$2.0M |
| (Loss) income before income taxes | -$225.8M | -$81.0M | $117.1M |
| Income tax expense | -$39.0M | -$2.2M | -$4.6M |
| (Loss) income before earnings in equity method investment | -$264.8M | -$83.2M | $112.5M |
| Earnings in equity method investment | $128.8M | $0 | $0 |
| Net (loss) income | -$136.0M | -$83.2M | $112.5M |
| Net (loss) income attributable to redeemable non-controlling interests | $0 | -$29.4M | $93.3M |
| Net (loss) income attributable to GPGI, Inc. | -$136.0M | -$53.7M | $19.2M |
| Net (loss) income per share attributable to Class A common stockholders - basic (in dollars per share) | -$1.23 | -$1.22 | $1.03 |
| Net (loss) income per share attributable to Class A common stockholders - diluted (in dollars per share) | -$1.23 | -$1.22 | $0.96 |
| Weighted average shares used to compute net (loss) income per share attributable to Class A common stockholders - basic (in shares) | 110.5M shares | 44.0M shares | 18.7M shares |
| Weighted average shares used to compute net (loss) income per share attributable to Class A common stockholders - diluted (in shares) | 110.5M shares | 44.0M shares | 35.3M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $114.6M | $77.5M | ||
| Accounts receivable | $0 | $47.4M | $40.5M | |
| Inventories, net | $0 | $44.8M | ||
| Prepaid expenses and other current assets | $5.4M | $4.2M | ||
| Total Current assets | $120.1M | $173.9M | ||
| Property and equipment, net | $0 | $23.4M | ||
| Right-of-use asset - operating leases | $0 | $5.4M | ||
| Deferred tax asset | $271.7M | $264.8M | ||
| Derivative asset- interest rate swap | $0 | $2.7M | ||
| Equity method investment | $125.5M | $0 | ||
| Deposits and other assets | $0 | $3.6M | ||
| Total assets | $517.3M | $473.9M | ||
| Accrued expenses | $1.9M | $14.7M | ||
| Accounts payable | $922.0K | $11.5M | ||
| Commission payable | $0 | $2.6M | ||
| Bonus payable | $0 | $8.5M | ||
| Current portion of long-term debt | $0 | $11.2M | ||
| Current portion of lease liabilities - operating leases | $0 | $2.1M | ||
| Current portion of earnout consideration liability | $0 | $20.5M | ||
| Current portion of tax receivable agreement liability | $16.2M | $5.2M | ||
| Total current liabilities | $19.0M | $76.3M | ||
| Long-term debt, net of deferred finance costs | $0 | $184.4M | ||
| Warrant liability | $0 | $104.2M | $8.3M | |
| Lease liabilities - operating leases | $0 | $3.9M | ||
| Tax receivable agreement liability | $255.2M | $248.5M | ||
| Total liabilities | $274.1M | $617.4M | ||
| Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding | $0 | $0 | ||
| Treasury shares | -$12.2M | $0 | ||
| Additional paid-in-capital | $706.7M | $361.4M | ||
| Accumulated other comprehensive income | -$206.0K | $2.5M | ||
| Accumulated deficit | -$451.1M | -$507.4M | ||
| Total stockholders' equity (deficit) | $243.1M | -$143.4M | -$802.4M | -$892.2M |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $517.3M | $473.9M | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Preferred stock, issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, outstanding (in shares) | 0 shares | 0 shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $114.6M | $77.5M | ||
| Accounts receivable | $0 | $47.4M | $40.5M | |
| Inventories, net | $0 | $44.8M | ||
| Prepaid expenses and other current assets | $5.4M | $4.2M | ||
| Total Current assets | $120.1M | $173.9M | ||
| Property and equipment, net | $0 | $23.4M | ||
| Right-of-use asset - operating leases | $0 | $5.4M | ||
| Deferred tax asset | $271.7M | $264.8M | ||
| Derivative asset- interest rate swap | $0 | $2.7M | ||
| Equity method investment | $125.5M | $0 | ||
| Deposits and other assets | $0 | $3.6M | ||
| Total assets | $517.3M | $473.9M | ||
| Accrued expenses | $1.9M | $14.7M | ||
| Accounts payable | $922.0K | $11.5M | ||
| Commission payable | $0 | $2.6M | ||
| Bonus payable | $0 | $8.5M | ||
| Current portion of long-term debt | $0 | $11.2M | ||
| Current portion of lease liabilities - operating leases | $0 | $2.1M | ||
| Current portion of earnout consideration liability | $0 | $20.5M | ||
| Current portion of tax receivable agreement liability | $16.2M | $5.2M | ||
| Total current liabilities | $19.0M | $76.3M | ||
| Long-term debt, net of deferred finance costs | $0 | $184.4M | ||
| Warrant liability | $0 | $104.2M | $8.3M | |
| Lease liabilities - operating leases | $0 | $3.9M | ||
| Tax receivable agreement liability | $255.2M | $248.5M | ||
| Total liabilities | $274.1M | $617.4M | ||
| Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding | $0 | $0 | ||
| Treasury shares | -$12.2M | $0 | ||
| Additional paid-in-capital | $706.7M | $361.4M | ||
| Accumulated other comprehensive income | -$206.0K | $2.5M | ||
| Accumulated deficit | -$451.1M | -$507.4M | ||
| Total stockholders' equity (deficit) | $243.1M | -$143.4M | -$802.4M | -$892.2M |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $517.3M | $473.9M | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Preferred stock, issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, outstanding (in shares) | 0 shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$136.0M | -$83.2M | $112.5M |
| Depreciation and amortization | $1.6M | $9.2M | $8.4M |
| Stock-based compensation expense | $4.5M | $21.2M | $17.6M |
| Inventory reserves | $0 | -$294.0K | -$1.2M |
| Amortization of deferred financing costs | $74.0K | $1.2M | $1.5M |
| Earnings in equity method investment | -$128.8M | $0 | $0 |
| Cash receipts from Holdings after the Spin-Off | $21.7M | $0 | $0 |
| Loss on extinguishment of debt | $0 | $148.0K | $0 |
| Revaluation of earnout consideration liability | $57.1M | $76.3M | -$14.2M |
| Revaluation of warrant liability | $151.0M | $95.9M | -$8.0M |
| Non-cash operating lease expense | $405.0K | $2.3M | $2.2M |
| Change in fair value of derivative liability | $0 | -$425.0K | $139.0K |
| Loss on remeasurement of TRA liability | $3.5M | $0 | $0 |
| Deferred tax (benefit) expense | $14.7M | -$2.5M | $2.7M |
| Accounts receivable | $2.1M | -$7.0M | -$3.2M |
| Inventories, net | -$5.2M | $8.0M | -$9.0M |
| Prepaid expenses and other assets | -$4.0M | $974.0K | -$1.3M |
| Accounts payable | -$625.0K | $6.4M | -$1.9M |
| Accrued expenses | -$760.0K | $2.7M | $1.8M |
| Lease liabilities | -$371.0K | -$2.5M | -$2.2M |
| Other liabilities | -$3.6M | $1.0M | -$1.4M |
| Net cash (used in ) provided by operating activities | -$22.9M | $129.6M | $104.3M |
| Purchase of property and equipment | $0 | -$7.4M | -$10.9M |
| Investment in SAFE | $0 | -$1.5M | $0 |
| Resolute Holdings cash deconsoldiated as a result of the Spin-Off | -$10.0M | $0 | $0 |
| Holdings cash deconsolidated as a result of the CompoSecure Management Agreement | -$50.3M | $0 | $0 |
| Capitalized software expenditures | -$387.0K | -$1.0M | $0 |
| Net cash used in investing activities | -$60.7M | -$9.9M | -$10.9M |
| Proceeds from employee stock purchase plan and exercise of options | $121.0K | $5.0M | $1.2M |
| Payments for taxes related to net share settlement of equity awards and earnout liability | -$18.0M | -$12.8M | -$3.1M |
| Proceeds from the exercise of warrants | $156.2M | $0 | $0 |
| Purchase of treasury shares | -$12.2M | $0 | $0 |
| Payment of term loan | $0 | -$12.8M | -$22.8M |
| Payment of tax receivable agreement liability | -$5.3M | -$1.3M | -$2.4M |
| Deferred finance costs related to debt modification | $0 | -$2.1M | -$256.0K |
| Tax distributions to non-controlling members | $0 | -$34.9M | -$38.4M |
| Special distribution to non-controlling members | $0 | -$15.6M | $0 |
| Dividend to Class A shareholders | $0 | -$8.9M | $0 |
| Net cash provided by (used in) financing activities | $120.8M | -$83.4M | -$65.8M |
| Net increase in cash and cash equivalents | $37.2M | $36.2M | $27.6M |
| Cash paid for interest expense | $2.2M | $20.6M | $27.2M |
| Cash paid for income taxes | $24.3M | $4.8M | $2.8M |
| Operating lease ROU assets exchanged for lease liabilities | $4.2M | $0 | $0 |
| Derivative asset - interest rate swap | -$502.0K | -$2.4M | -$3.3M |
| Non-cash portion of warrant exercise | -$255.2M | $0 | $0 |
| Settlement of earnout | -$77.6M | -$56.6M | $0 |
| Contribution to Holdings for stock-based compensation | $18.3M | $0 | $0 |
| Holdings net liabilities, excluding cash and cash equivalent, deconsolidated as a result of CompoSecure Management Agreement | -$100.4M | $0 | $0 |
| Resolute Holdings net liabilities, excluding cash and cash equivalent, deconsolidated as a result of Spin-Off | -$1.5M | $0 | $0 |
No quarter-by-quarter statement was filed.
Leadership
Who has led GPGI, Inc., and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
2025
- ChairDavid M. Cote Sep 17, 2024 to now10
- Chief financial officerMary O. Holt Nov 7, 2025 to now11
- Chief financial officerTimothy Walter Fitzsimmons Dec 29, 2021 to Nov 7, 202512
- Chief financial officerJohn C. Small Nov 5, 2020 to Nov 5, 202013
- Chief operating officerGregoire Maes Dec 29, 2021 to now14
Board members and other officers (28)
- OfficerGraham Robinson Jan 26, 2026 to now15
- OfficerBradley J. Selleck Jan 30, 2026 to now16
- OfficerKurt Schoen Jan 30, 2026 to now17
- OfficerDavid M. Cote Oct 3, 2024 to Oct 3, 202418
- Chief Revenue OfficerAmanda Mandy Gourbault Dec 29, 2021 to now19
- OfficerDonald G. Basile Nov 5, 2020 to Nov 19, 202020
- Board memberDelara Zarrabi Jan 14, 2026 to now21
- Board memberLouis Samson Jan 14, 2026 to now22
- Board memberKevin M. Moriarty Jul 14, 2025 to now23
- Board memberRebecca Corbin Loree Jul 14, 2025 to now24
- Board memberJohn D. Cote Sep 17, 2024 to now25
- Board memberJoseph J. Deangelo Sep 17, 2024 to now26
- Board memberMark R. James Sep 17, 2024 to now27
- Board memberRoger Fradin Sep 17, 2024 to Oct 3, 202428
- Board memberDavid M. Cote Oct 3, 2024 to Oct 3, 202418
- Board memberKrishna Mikkilineni Oct 22, 2024 to now29
- Board memberPaul Galant Sep 21, 2022 to now30
- Board memberBrian F. Hughes Dec 29, 2021 to now31
- Board memberJane J. Thompson Dec 29, 2021 to now32
- Board memberMichele Logan Dec 29, 2021 to Sep 17, 202433
- Board memberMitchell L. Hollin Dec 29, 2021 to Jun 3, 202434
- Board memberNiloofar Razi Howe Dec 29, 2021 to Jul 2, 202435
- Board memberAlan Clingman Nov 5, 2020 to Nov 5, 202036
- Board memberArun Abraham Nov 5, 2020 to Nov 5, 202037
- Board memberDixon Doll Nov 5, 2020 to Nov 5, 202038
- Board memberDonald G. Basile Nov 5, 2020 to Sep 16, 202220
- Board memberPaul Misir Nov 5, 2020 to Nov 5, 202039
- Board memberJames Larry Nelson Dec 14, 2020 to Dec 14, 202040
Former names
Filings
704 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 73 major events, 370 insider forms, 104 large holders, 136 other. The latest 20:
- Aug 6, 202610-Q EDGAR
- Aug 6, 20268-K EDGAR
- Aug 6, 2026SCHEDULE 13G/A EDGAR
- Jun 30, 2026SD EDGAR
- Jun 22, 2026SCHEDULE 13G EDGAR
- Jun 15, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 15, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 15, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 15, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 15, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 15, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 15, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 15, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 15, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 15, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 12, 20268-K EDGAR
- Jun 5, 20268-K EDGAR
- Jun 4, 20268-K EDGAR
- May 28, 20264 EDGAR
- May 28, 2026DEFA14A EDGAR
The 704 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 104 such filings since October 2021, the latest 10:
- Aug 6, 2026SCHEDULE 13G/A
- Jun 22, 2026SCHEDULE 13G
- May 15, 2026SCHEDULE 13G
- May 14, 2026SCHEDULE 13G/A
- May 6, 2026SCHEDULE 13G/A
- Mar 6, 2026SCHEDULE 13G
- Feb 12, 2026SCHEDULE 13G
- Jan 20, 2026SCHEDULE 13D
- Jan 14, 2026SCHEDULE 13D/A
- Nov 14, 2025SCHEDULE 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Platinum Equity Advisors, LLC/DE | 52,829,757 | $837.4M | 9.3% | No change |
| Fmr LLC | 42,747,045 | $677.5M | 0.0% | +3,195,112 |
| Alyeska Investment Group, L.P. | 23,404,836 | $371.0M | 1.0% | +2,009,583 |
| Locust Wood Capital Advisers, LLC | 14,907,488 | $236.3M | 5.7% | +1,123,835 |
| BlackRock, Inc. | 14,292,013 | $226.5M | 0.0% | +614,851 |
| Capital Research Global Investors | 11,550,580 | $183.1M | 0.0% | +289,867 |
| Cooperman Leon G | 11,384,508 | $180.4M | 5.1% | New |
| Barrow Hanley Mewhinney & Strauss LLC | 10,439,933 | $165.5M | 0.5% | +4,838,428 |
| Corsair Capital Management, L.P. | 8,517,859 | $135.0M | 17.0% | +52,070 |
| Vanguard Portfolio Management LLC | 8,367,535 | $132.6M | 0.0% | +97,078 |
| Vanguard Capital Management LLC | 7,775,110 | $123.2M | 0.0% | +54,372 |
| Alberta Investment Management Corp | 5,605,406 | $88.8M | 0.6% | +200,000 |
| Starboard Value LP | 5,027,028 | $79.7M | 1.8% | No change |
| Geode Capital Management, LLC | 4,542,126 | $72.0M | 0.0% | +364,370 |
| State Street Corp | 4,510,723 | $71.5M | 0.0% | +574,187 |
| Capital World Investors | 4,102,313 | $65.0M | 0.0% | −1,085,725 |
| Bleichroeder LP | 3,972,176 | $63.0M | 11.3% | +2,500 |
| Jupiter Topco LLC | 3,147,817 | $49.9M | 0.0% | New |
| Nine Ten Capital Management LLC | 2,984,544 | $47.3M | 14.7% | +80,000 |
| Bwcp, LP | 2,343,475 | $37.1M | 5.3% | +1,283,636 |
| Morgan Stanley | 2,209,053 | $35.0M | 0.0% | +328,719 |
| Chescapmanager LLC | 1,927,200 | $30.5M | 4.0% | +862,389 |
| Zuckerman Investment Group, LLC | 1,913,886 | $30.3M | 2.6% | +325,164 |
| Northern Trust Corp | 1,899,171 | $30.1M | 0.0% | +88,649 |
| UBS Group AG | 1,614,923 | $25.6M | 0.0% | −2,209,293 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARGPGI, Inc. filings on SEC EDGAR
- 2SEC EDGARGPGI, Inc. filings on SEC EDGAR
- 3SEC EDGARGPGI, Inc. 10-K for fiscal 2025
- 4SEC EDGARGPGI, Inc. 10-K for fiscal 2019
- 5SEC EDGARGPGI, Inc. 10-K for fiscal 2020
- 6SEC EDGARGPGI, Inc. 10-K for fiscal 2021
- 7SEC EDGARGPGI, Inc. 10-K for fiscal 2022
- 8SEC EDGARGPGI, Inc. 10-Q for fiscal 2026
- 9SEC EDGARGPGI, Inc. 10-Q for fiscal 2026
- 10SEC EDGARDavid M. Cote, Chair
- 11
- 12
- 13
- 14
- 15SEC EDGARGraham Robinson, Officer
- 16SEC EDGARBradley J. Selleck, Officer
- 17SEC EDGARKurt Schoen, Officer
- 18SEC EDGARDavid M. Cote, Officer
- 19
- 20SEC EDGARDonald G. Basile, Officer
- 21SEC EDGARDelara Zarrabi, Board member
- 22SEC EDGARLouis Samson, Board member
- 23SEC EDGARKevin M. Moriarty, Board member
- 24SEC EDGARRebecca Corbin Loree, Board member
- 25SEC EDGARJohn D. Cote, Board member
- 26SEC EDGARJoseph J. Deangelo, Board member
- 27SEC EDGARMark R. James, Board member
- 28SEC EDGARRoger Fradin, Board member
- 29SEC EDGARKrishna Mikkilineni, Board member
- 30SEC EDGARPaul Galant, Board member
- 31SEC EDGARBrian F. Hughes, Board member
- 32SEC EDGARJane J. Thompson, Board member
- 33SEC EDGARMichele Logan, Board member
- 34SEC EDGARMitchell L. Hollin, Board member
- 35SEC EDGARNiloofar Razi Howe, Board member
- 36SEC EDGARAlan Clingman, Board member
- 37SEC EDGARArun Abraham, Board member
- 38SEC EDGARDixon Doll, Board member
- 39SEC EDGARPaul Misir, Board member
- 40SEC EDGARJames Larry Nelson, Board member