GPGI (GPGI) financial statements
GPGI reported revenue of $60M in fiscal 2025, down 20.8% a year over 6 years.
Net income was -$136M and the operating margin -23.0%, against 35.7% in 2019.
Free cash flow was -$23M, and the company returned $12M in net buybacks.
The diluted share count rose 17% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from GPGI's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $243M | $261M | $268M | $378M | $391M | $421M | $60M |
| Cost of revenue | $115M | $128M | $123M | $159M | $182M | $201M | $31M |
| Gross profit | $128M | $133M | $145M | $220M | $209M | $219M | $29M |
| Research and development | — | — | $3M | $7M | $7M | $7M | $1M |
| Selling, general and admin | $41M | $49M | $81M | $117M | $95M | $116M | $43M |
| Operating income | $87M | $84M | $81M | $115M | $119M | $108M | -$14M |
| Interest expense | $5M | $6M | $12M | $21M | $28M | $20M | $2M |
| Pre-tax income | $81M | $78M | $83M | $136M | $117M | -$81M | -$226M |
| Income tax | $0 | $0 | -$857,000 | $4M | $5M | $2M | $39M |
| Net income | $81M | $78M | $3M | $19M | $19M | -$54M | -$136M |
| EPS (diluted) | — | — | $0.12 | $1.13 | $0.96 | -$1.22 | -$1.23 |
| Diluted shares | — | — | 95M | 33M | 35M | 44M | 111M |
| Gross margin | 52.6% | 50.9% | 54.1% | 58.0% | 53.5% | 52.1% | 48.1% |
| Operating margin | 35.7% | 32.2% | 30.4% | 30.4% | 30.5% | 25.6% | -23.0% |
| Net margin | 33.5% | 29.9% | 1.2% | 4.9% | 4.9% | -12.8% | -227.3% |
Balance sheet
Fiscal years, from GPGI's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $27M | $13M | $22M | $14M | $41M | $77M | $115M |
| Receivables | — | $9M | $28M | $37M | $40M | $47M | $0 |
| Inventory | — | $30M | $26M | $42M | $53M | $45M | $0 |
| Total current assets | — | $53M | $78M | $97M | $139M | $174M | $120M |
| Property, plant and equipment | — | $28M | $22M | $23M | $25M | $23M | $0 |
| Total assets | — | $81M | $131M | $163M | $201M | $474M | $517M |
| Total current liabilities | — | $42M | $61M | $47M | $41M | $76M | $19M |
| Long-term debt | — | — | — | $344M | $326M | $184M | — |
| Total liabilities | — | $274M | $539M | $455M | $407M | $617M | $274M |
| Shareholders' equity | -$56M | -$193M | -$1.0B | -$892M | -$802M | -$144M | $243M |
| Net debt | -$27M | $11M | -$9M | $344M | $295M | $118M | -$115M |
Cash flow
Fiscal years, from GPGI's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $81M | $87M | $78M | $93M | $104M | $130M | -$23M |
| Capital spending | $10M | $8M | $5M | $9M | $11M | $8M | $387,000 |
| Free cash flow | $72M | $80M | $73M | $84M | $93M | $121M | -$23M |
| Stock-based compensation | $2M | $2M | $6M | $11M | $18M | $21M | $4M |
| Dividends paid | — | — | — | $0 | $0 | $9M | $0 |
| Share buybacks (net) | — | — | — | — | $0 | $0 | -$12M |
| Free cash flow margin | 29.4% | 30.5% | 27.3% | 22.1% | 23.9% | 28.8% | -38.9% |
| Dividends per share | — | — | — | — | — | $0.20 | — |
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Open GPGI in InvestinglyQuestions
What was GPGI's revenue in 2025?
$60M in fiscal 2025, from its 10-K filing.
How much free cash flow does GPGI generate?
-$23M in fiscal 2025 (operating cash flow minus capital spending).
From GPGI's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.