GPGI, Inc. · NYSE:GPGI
GPGI — Q3 2026 Earnings Presentation
26 slides from GPGI's earnings presentation, Nov 5, 2026
Slide 1: GPGI Third Quarter 2026 Earnings Presentation
GPGI Third Quarter 2026 Earnings Presentation November 5, 2026 TM
Slide 2: Disclaimer
Disclaimer 2 Caution Concerning Forward-Looking Statements: This presentation, and other statements that GPGI, Inc. (“GPGI,” “we,” “us” or the “Company”) may make in connection therewith, contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These st
Slide 3: 3Q26 Highlights
3Q26 Highlights Strength at CompoSecure & Improving Demand at Husky Adjusting FY26 guidance while still expecting sequentially strong 4Q ▪ 4Q26 – anticipate LSD organic revenue growth and HSD Adjusted EBITDA growth, at midpoint of range ▪ FY26 – anticipate achieving prior Adjusted Net Sales forecast
Slide 4: 3Q26 Financial Performance In-Line with Expectations
$49.8 $61.2 $89.6 $88.8 3Q25 3Q26 $120.9 $140.7 $367.0 $368.9 3Q25 3Q26 3Q26 Financial Performance In-Line with Expectations: Strength at CompoSecure & Demand Returning at Husky Note: Non-GAAP measures are defined on page 2 and reconciled in the Appendix. 1. GPGI Pro Forma Adjusted EBITDA includes C
Slide 5: 4Q26 and FY26 Guidance
4Q26 and FY26 Guidance Delivering Prior Sales Forecast – Slightly Lowering Adjusted EBITDA, Margins, and FCF Outlook Note: Non-GAAP measures are defined on page 2 and reconciled in the Appendix. 1. Represents cash flow from operations (excluding one-time Husky transaction and debt refinancing expens
Slide 6: CompoSecure 3Q26 Summary
CompoSecure 3Q26 Summary Record Adjusted Net Sales and Profitability Note: Non-GAAP measures are defined on page 2 and reconciled in the Appendix. Operating discipline delivered record sales and margins in the third quarter Record Adjusted Net Sales of $140.7 million up 16.4% year-over-year, driven
Slide 7: CompoSecure 3Q26 Financial Performance
CompoSecure 3Q26 Financial Performance Significant Progress Against All Key Metrics Catalyzed by ROS Record results attributable to ROS-enabled gains ▪ Robust demand across diversified customer base, including new program wins ▪ Reinvigorated go-to-market with strategic hires in high growth regions
Slide 8: CompoSecure is One-of-One Category Creator for Premium Metal Payment Cards
CompoSecure is One-of-One Category Creator for Premium Metal Payment Cards Market leadership and tailwinds provide catalyst for continued commercial momentum in 2027 and beyond 1. Year indicates launch date for respective signature card programs. 2. As of 3Q26. GPGI CompoSecure Husky 8 Leading globa
Slide 9: Husky 3Q26 Summary
Husky 3Q26 Summary Performance in Line with Expectations – Positioned to Accelerate in 2027 Note: Non-GAAP measures are defined on page 2 and reconciled in the Appendix. Focused on disciplined execution, ROS implementation, and ongoing investment Adjusted Net Sales of $368.9 million up 0.5% y/y, dri
Slide 10: Husky 3Q26 Financial Performance
Husky 3Q26 Financial Performance 3Q Sequential Gains Expected to Continue in 4Q Adjusted Net Sales ($mn) ▪ Sales driven by return to growth in systems and strong performance in parts, offset by 1H customer demand deferrals in aftermarket ex service ▪ Good systems visibility plus growing pipeline and
Slide 11: Husky Commercial Momentum Accelerating
Husky Commercial Momentum Accelerating Pipeline and Order Growth Provide Visibility for 2027 Demand is improving at Husky GPGI CompoSecure Husky 11 3Q26 vs. 2Q26 (Sequential) October Highlights 3Q26 vs. 3Q25 (Y/Y) Aftermarket Orders1 +11% q/q +8% y/y ▪ Growing system installed base, lightweighting,
Slide 12: Historical 2H Seasonality
Historical 2H Seasonality 12 Husky Adj. Net Sales – Historical Seasonality1 Husky Adj. EBITDA – Historical Seasonality1 ($ in millions, % of full year revenues) Note: Non-GAAP measures are defined on page 2 and reconciled in the Appendix. 1. 1H26 and 2H26E (Updated Guide) bars represent implied low
Slide 13: Husky Forecast Evolution
Husky Forecast Evolution Demand Improving, Cost Realization Initiatives Underway 13 Husky Metrics May 2026 Nov. 2026 Delta (at midpoint) Commentary Pro Forma Adj. Net Sales $1,450 - $1,545 $1,492 - $1,519 ~$8 ▪ 2H sales increase materializing as forecasted ▪ Husky system sales have returned to growt
Slide 14: Looking Ahead to 2027
Looking Ahead to 2027 Anticipate Return to GPGI’s Long-Term Growth Algorithm GPGI CompoSecure Husky 14 CompoSecure Husky ˗ Elevated interest rates may impact new card issuance ˗ Potential mix impacts from increasingly complex programs ˗ Higher R&D investment and higher growth capex + Accelerating ad
Slide 15: Illustrative Valuation
Illustrative Valuation Undervalued Based on Return to Long-Term Growth Algorithm in 2027 GPGI CompoSecure Husky 15 Note: Non-GAAP measures are defined on page 2 and reconciled in the Appendix. Source: Bloomberg, FactSet (as of November 2, 2026). 1. Assumes illustrative 10% EBITDA growth (not forward
Slide 16: GPGI Key Takeaways
GPGI Key Takeaways Focused on Executing in 2026 and Accelerating Into 2027 Decentralized businesses + proven operating system + disciplined capital allocation unlock durable compounding GPGI CompoSecure Husky 3Q Performance In- Line with Expectations ROS Implementation Accelerating Long-Term Platfor
Slide 17: Appendix – Financial Supplement
Appendix – Financial Supplement
Slide 18: Capital Structure Update
Capital Structure Update Key Financial Metrics ($ in millions) As of September 30, 2026 Cash Balance $176 Total Debt Outstanding1 $2,097 Net Debt $1,921 Net Debt / LTM Pro Forma Adjusted EBITDA 3.7x Revolver Capacity2 $393 Total Liquidity $569 1. Total debt outstanding includes term loan, senior sec
Slide 19: Statement of Operations – 3Q26
Statement of Operations – 3Q26 Unaudited Required GAAP to Non-GAAP Operating Results ($ in millions) Note: The Non-GAAP column represents a consolidation of the Company’s results with those of GPGI Holdings L.L.C. (“GPGI Holdings”). See page 2. 1. GAAP currently requires GPGI to present the results
Slide 20: Statement of Operations – 3Q25
Statement of Operations – 3Q25 Unaudited Required GAAP to Non-GAAP Operating Results ($ in millions) Note: The Non-GAAP columns represent a consolidation of the Company’s results with those of GPGI Holdings, and the addition of Husky results as if the Husky transaction had closed on January 1, 2025.
Slide 21: Statement of Cash Flows
Statement of Cash Flows Unaudited (Required GAAP and Non-GAAP) Note: The Non-GAAP columns represent a consolidation of the Company’s results with those of GPGI Holdings, and the addition of Husky results as if the Husky transaction had closed on January 1, 2025. See page 2. Note: All instruments hav
Slide 22: Balance Sheet
Balance Sheet Unaudited (Required GAAP and Non-GAAP) Finished 3Q26 with ~$176 million in cash after repaying remaining $15 million of the revolver Note: The Non-GAAP columns represent a consolidation of the Company’s results with those of GPGI Holdings. See page 2. 1. GAAP currently requires GPGI to
Slide 23: 3Q26 Adjusted Earnings Per Share and Adjusted Free Cash Flow
3Q26 Adjusted Earnings Per Share and Adjusted Free Cash Flow Non-GAAP Reconciliation ($ in millions, except per share amounts) 1. Includes the changes in fair value of warrant liability, make-whole provision of the previously outstanding exchangeable notes of GPGI Holdings (f/k/a CompoSecure Holding
Slide 24: Historical Pro Forma Non-GAAP Results
Historical Pro Forma Non-GAAP Results 1. Reflects pro forma Management Fees as if the Management Agreements were in effect since January 1, 2024. 2. Represents unallocable administrative expenses at the GPGI, Inc. and GPGI Holdings corporate entities. CompoSecure, Husky, and Corporate Segments ($ in
Slide 25: Historical Pro Forma Non-GAAP Reconciliations
Historical Pro Forma Non-GAAP Reconciliations CompoSecure, Husky, and Corporate Segments ($ in millions) 1 1 2 1. Reflects pro forma Management Fees as if the Management Agreements were in effect since January 1, 2025. 2. Represents unallocable administrative expenses at the GPGI, Inc. and GPGI Hold
Slide 26: Investor Relations Contact
Investor Relations Contact [email protected]