secwatch.observer — SEC 8-K summary
======================================

Issuer:     GPGI, Inc. (GPGI)
CIK:        0001823144
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0001104659-23-116266
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823144/000110465923116266/0001104659-23-116266-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823144/000110465923116266/tm2329716d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-116266

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer