---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-116266"
form_type: "8-K"
ticker: "GPGI"
cik: "0001823144"
company_name: "GPGI, Inc."
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T07:29:46.092547+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# CompoSecure cuts FY2023 sales guidance to $386-392M; Q3 net sales down 6% YoY

## Summary
- Q3 Net Sales $96.9M vs $103.3M YoY; Gross Profit margin 50.5% vs 59.8% on inflation and production inefficiencies.
- Adjusted EBITDA $35.5M (+9% YoY); Net Income $38.0M (+74%) on expense controls and fair-value changes.
- Adjusted EPS $0.27 basic (incl. class A & B) vs $0.26 in prior year.
- FY2023 guidance revised: Net sales $386-392M (prev $400-425M), Adj EBITDA $141-146M (prev $145-155M).
- Customers launched new metal card programs (Amex Hilton Aspire, SAS Elite, Axis Magnus); Arculus key became Microsoft FIDO2 vendor.

## SEC filing metadata
- accession: 0001104659-23-116266
- form_type: 8-K
- ticker: GPGI
- cik: 0001823144
- company_name: GPGI, Inc.
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1823144/000110465923116266/0001104659-23-116266-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823144/000110465923116266/tm2329716d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-116266
- JSON: https://secwatch.observer/filing/0001104659-23-116266.json
- Plain text: https://secwatch.observer/filing/0001104659-23-116266.txt

## Key facts
- Earnings Releases
  GPGI, Inc. reported the third quarter ended September 30, 2023 results: revenue $96.9 million, net income $38.0 million, EPS $0.39 (Basic) and $0.34 (Diluted). Guidance lowered.
  - Period: the third quarter ended September 30, 2023
  - Revenue: $96.9 million
  - Net income: $38.0 million
  - EPS: $0.39 (Basic) and $0.34 (Diluted)
  - Guidance: lowered
  - Result: reported results
  source text: including incrementally reducing our outstanding debt this quarter to further improve our leverage ratio.” Q3 2023 Financial Highlights (vs. Q3 2022) · Net Sales: Net Sales were $96.9 million compared to $103.3 million. The decrease was driven by lower international sales, which is a more variable market due to global economic uncertainty, customer mix and a smaller
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823144/000110465923116266/0001104659-23-116266-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.