Feed / GPGI

GPGI, Inc.

GPGI

Industrials · 12.89 -3.6% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

GPGI, Inc.'s current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 15 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.

What changed
  • The operating loss widened by 6.8M.
Company-3.6% todayVolume comparison unavailable
Market group0 of 15 activeMixed Risk Exposure · unavailable
Disclosed network0 of 6 confirmingNo filing-linked name is confirming now
What would change this read
  • GPGI's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if GPGI's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Industrials · Metal Fabrication

The latest filing evidence is available. 0 of 15 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges
  • The operating loss widened by 6.8M.
  • Operating cash flow remained negative at -44.0M.
What would clarify the read
  • GPGI's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods7
Price observations327
Usable filing statements87
Verified relationships7
Evidence supporting the case

No qualifying supportive evidence was identified.

Evidence challenging the case
  • Latest annual revenue changed -85.8% year over year.
  • Operating margin changed -48.5 percentage points in the latest annual period.
  • Net margin changed -214.6 percentage points in the latest annual period.
  • Credit and interest rates has repeated adverse evidence across 3 filings.
Questions before a position

No credible peer-relative valuation comparison is available yet.

Longer-term price context

Price as of Sep 10, 2026

12.89
6m-34.7%12m-31.9%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$267.9M+2.8%$0.12
2022-12-31$378.5M+41.2%$1.13
2023-12-31$390.6M+3.2%$0.96+8.5%
2024-12-31$420.6M+7.7%$-1.22+24.6%
2025-12-31$59.8M-85.8%$-1.23

What management says matters

Persistent and emerging business drivers

Credit and interest ratesnegative · 3 filings
The increase in expense related to the changes in fair value was offset by lower interest expense resulting from principal payments made on the outstanding term loan and the conversion of all outstanding Exchangeable Notes into shares of Common Stock resultin…
10-K · Mar 12, 2026
Input and raw-material costsnegative · 2 filings
Gross margin declined as a result of inefficiencies associated with new card constructions.
10-Q · Nov 3, 2025
Demand and volumepositive · 1 filings
The increase was primarily due to added accounts by existing customers of the CompoSecure business as they continued to experience higher demand.
10-K · Mar 12, 2026
Macroeconomic conditionsnegative · 1 filings
The decrease in gross margin was partially driven by initial production of new and innovative card constructions in the CompoSecure business, which resulted in lower production efficiencies, and the impact of inflationary pressure on wages and materials for t…
10-K · Mar 12, 2026

Valuation discipline

Peer-relative valuation withheld

Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

12.89-3.6% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for GPGI. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment

The latest filing shows material pressure

10-Q filed 2026-08-06 against the comparable filing from 2025-08-07.

cautious
OperationscautiousEvidence score -1
liquiditycautiousEvidence score -1
valuationwithheld

What improved

No thresholded improvement was identified.

What weakened

  • The operating loss widened by 6.8M.
  • Operating cash flow remained negative at -44.0M.

Filing receipts

The increase in cash used by investing activities of $1,948.1 was primarily due to the investment in GPGI Holdings for the Husky Transaction.

The increase in cash provided by financing activities of $1,960.9 for the six months ended June 30, 2026 was substantially due to proceeds received from the issuance of the PIPE shares for the Husky Transaction of $ 1,962.0 .

The decrease in cash and cash equivalents and short-term investments at GPGI Holdings and the increase in debt was as a result of funding the Husky Transaction.

Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.

Business ecosystem

The relationships behind GPGI

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

AXPAmerican Express CompanycustomerMar 12, 2026

The company’s leading position is reinforced by long-standing customer relationships with leading bank issuers like American Express, JPMorgan Chase and Capital One, and financial technology companies like Coinbase, Robinhood, and Gemini.

JPMJPMorgan Chase & Co.customerMar 12, 2026

The company’s leading position is reinforced by long-standing customer relationships with leading bank issuers like American Express, JPMorgan Chase and Capital One, and financial technology companies like Coinbase, Robinhood, and Gemini.

Depended on by

RHLDResolute Holdings Management, Inc.partnerMar 12, 2026

Overview Resolute Holdings provides operating management services to GPGI Holdings and Husky Holdings and other companies it may manage in the future, both in the United States and internationally, to generate recurring, long-duration management fees.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 3 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

GPGI is currently a Participant in the organic co-movement group Mixed Risk Exposure. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for GPGI; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.