GPGI
24 named things its latest annual report says its results depend on, each in the company's own words. 16 of them are also named by other companies we've read.
Customers
American Express
earns from · approximately 55% and 62% of the net sales of our CompoSecure business for the years ended December 31, 2025 and 2024named as a riskTogether, these customers represented approximately 55% and 62% of the net sales of our CompoSecure business for the years ended December 31, 2025 and 2024, respectively.Risk factors (Item 1A)
JPMorgan Chase
earns from · approximately 55% and 62% of the net sales of our CompoSecure business for the years ended December 31, 2025 and 2024named as a riskThe two largest customers of our CompoSecure business are JPMorgan Chase and American Express.Risk factors (Item 1A)
Partners and platforms
Resolute Holdings Management, Inc.
depends on · 2.5% of Holdings’ last twelve months' Adjusted EBITDAnamed as a riskOur businesses are managed for a fee by Resolute Holdings, which has substantial influence over our businesses, operations and strategy and upon which our businesses are heavily reliant.Risk factors (Item 1A)
Arculus third-party liquidity providers and transaction platforms
depends onnamed as a riskAdditionally, our CompoSecure business partners with third-party providers to offer certain Arculus-related services to its customers, including functionality that depends on third-party service providers, such as transaction execution platforms, liquidity providers and on/off ramps.Risk factors (Item 1A)
Other companies
Platinum Equity, LLC
approximately 19%named as a riskAs a result of this control, Tungsten and Platinum Equity are each able to influence matters requiring approval by our stockholders and/or our Board, including the election of directors and the approval of business combinations or dispositions and other extraordinary transactions.Risk factors (Item 1A)
Husky Technologies Limited
approximately $4.976 billionnamed as a riskOn November 2, 2025, the Company entered into a Share Purchase Agreement with entities affiliated with Platinum Equity, LLC ("Platinum Equity"), pursuant to which the Company combined with Husky Technologies Limited for aggregate consideration of approximately $4.976 billion, comprised of cash and shares of the Company’s Class A Common Stock (the “Husky Combination”).Business (Item 1)
Places
International (non-U.S.) customers
earns from · 14% and 18% of its revenuenamed as a riskDuring each of 2025 and 2024, our CompoSecure business derived 14% and 18% of its revenue from sales to customers located outside the U.S.Risk factors (Item 1A)
Russia
operates innamed as a riskThe international operations of the Husky business, such as its manufacturing operations and other facilities in Brazil, China, India, Luxembourg, Mexico and Russia, are subject to risks inherent in doing business in foreign countries, including, among others:Risk factors (Item 1A)
Also named by ALSN, ATR, AVY, AXP, BKR, BSX, C, CDNA and 50 more
CompoSecure primary production facility
concentrated innamed as a riskA substantial portion of our CompoSecure business’ manufacturing capacity is located at its primary production facility.Risk factors (Item 1A)
Commodities and inputs
SOFR
exposed to its price · $186.3 million in debt outstandingnamed as a riskAs of December 31, 2025, Holdings had $186.3 million in debt outstanding under its prior credit facility, all of which was variable rate debt.Market risk (Item 7A)
Also named by AAP, AIOT, APG, APH, ARES, AXON, BGC, BR and 82 more
Steel
exposed to its pricenamed as a riskThe largest material purchase for the Husky business is for tooling stainless steel.Risk factors (Item 1A)
Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more
Canadian dollar
exposed to its pricenamed as a riskFor example, a large percentage of the expenses of the Husky business are incurred in Canadian dollars, while a large percentage of its revenues are denominated in U.S. dollars.Risk factors (Item 1A)
Also named by ABBV, ADBE, AMG, AYI, BBY, BWXT, CBRE, CDRE and 67 more
Digital assets
earns fromnamed as a riskMore generally, any negative publicity regarding unlawful uses of digital assets in the marketplace could materially reduce the demand for our CompoSecure business’ products and solutions derived from the Arculus platform.Risk factors (Item 1A)
Polyethylene terephthalate (PET) packaging
earns fromnamed as a riskAny reduction in the usage of plastic packaging and, in particular, Polyethylene Terephthalate (“PET”) packaging, by consumers will likely result in the reduction of the sales of equipment and services of the Husky business, which could have a material adverse effect on our business, financial condition or results of operations.Risk factors (Item 1A)
EMV and NFC chips
depends onnamed as a riskSome of the key components used in the manufacture of its products are metals, NFC-enabled chips and EMV chips, which our CompoSecure business sources from several key suppliers.Risk factors (Item 1A)
Regulators
U.S. Securities and Exchange Commission (SEC)
subject tonamed as a riskIf our CompoSecure business is found to have supported purchase and swap transactions in the Arculus Cold Storage Wallet for digital assets which subsequently are determined to be securities, it is possible that our CompoSecure business could be viewed as inadvertently acting as an unlicensed broker-dealer which could subject our CompoSecure business to, among other things, regulatory enforcement actions, censure, monetary fines, restrictions on the conduct of its Arculus activities and/or rescission/damages claims by customers who use the Arculus Cold Storage Wallet.Risk factors (Item 1A)
Also named by AB, ADSK, AMG, AMP, ARCC, ARES, BAM, BCSF and 44 more
Office of Foreign Assets Control (OFAC)
subject tonamed as a riskThe Husky business is subject to export control and import laws and regulations, including the U.S. Export Administration Regulations, U.S. Customs regulations, and various economic and trade sanctions regulations administered by the U.S. Treasury Department’s Office of Foreign Assets Controls and anti-corruption and anti-money laundering laws and regulations, including the U.S. Foreign Corrupt Practices Act of 1977, as amended, the U.S. domestic bribery statute contained in 18 U.S.C. § 201, the U.S. Travel Act, the USA PATRIOT Act and other state and national anti-bribery and anti-money laundering laws in the regions in which the Husky business conducts its operations.Risk factors (Item 1A)
Also named by ABNB, ADP, AIG, APP, BMI, BMNR, BPOP, CAT and 46 more
Commodity Futures Trading Commission (CFTC)
subject tonamed as a riskIn the U.S., the legal and regulatory landscape applicable to digital assets remains uncertain, with overlapping authority existing between and among various U.S. federal agencies, including the CFTC and SEC.Risk factors (Item 1A)
Also named by AB, ADM, AGNC, AMG, BAC, BGC, BMNR, C and 35 more
Laws and programs
Tax Receivable Agreement
90% of the benefitsnamed as a riskThe Tax Receivable Agreement provides for the payment by us to certain TRA Parties of 90% of the benefits, if any, that we are deemed to realize (calculated using certain assumptions) as a result of (i) our allocable share of existing tax basis in the assets of Holdings and its subsidiaries acquired (A) in the Roman DBDR Business Combination and (B) upon sales or exchanges of Holdings Units pursuant to the Exchange Agreement after the Business Combination, (ii) certain increases in tax basis that occurred as a result of (A) the Roman DBDR Business Combination and (B) sales or exchanges of Holdings Units pursuant to the Exchange Agreement after the Business Combination, and (iii) certain other tax benefits, including tax benefits attributable to payments under the Tax Receivable Agreement.Risk factors (Item 1A)
U.S. tariffs on imports
subject tonamed as a riskFor example, the Trump administration has instituted substantial changes to U.S. foreign trade policy with respect to China and other countries, including a significant increase in tariffs on goods imported into the U.S., and has signaled possibly imposing further restrictions on international trade.Risk factors (Item 1A)
Also named by AAP, ABT, ALLY, ATR, AZO, BBW, BWA, CMG and 19 more
GENIUS Act
subject tonamed as a riskAs such, the full legal landscape applicable to stablecoins remains uncertain.Risk factors (Item 1A)
Also named by AUB, C, CFR, COF, COIN, CUBI, EWBC, FCNCA and 15 more
Sugar-sweetened beverage taxes
subject tonamed as a riskFor example, Mexico recently implemented a tax on certain sugar sweetened beverages and members of the U.S. Congress have raised the possibility of a federal tax on the sale of certain beverages, including non-diet soft drinks, fruit drinks, teas and flavored waters.Risk factors (Item 1A)
Payment network certification standards (PCI)
subject tonamed as a riskOur CompoSecure business may lose the ability to produce cards for or provide services to banks issuing credit or debit cards on the payment networks if it were to lose its certification from one or more of the payment networks or payment card industry certification for one or more of its facilities.Risk factors (Item 1A)