GPGI Inc. (NYSE: GPGI) has reported strong fourth-quarter results for 2025, with significant growth across key financial metrics. The company's non-GAAP net sales increased by 17% to $118 million, while GAAP net income surged by an impressive 189% to $43 million. Pro forma adjusted EBITDA also saw robust growth, rising by 41% to $43 million, with the EBITDA margin expanding by 640 basis points to 36.5%.
For the full year 2025, GPGI reported non-GAAP net sales of $462 million, marking a 10% increase over the prior year. Despite a GAAP net loss of $136 million, the figure represents a substantial 48% improvement from the previous year. Pro forma adjusted EBITDA for the full year stood at $171 million, reflecting a 24% increase, with the EBITDA margin expanding by 408 basis points to 36.9%.
The company's recent business developments include completing a business combination with Husky Technologies, rebranding to GPGI, debt refinancing to support future growth, and initiating a quarterly cash dividend. Additionally, Graham Robinson was appointed as President & CEO of Composecure, and Rob Domodossola as President & CEO of Husky Technologies.
Looking ahead to the full year 2026, GPGI has provided guidance based on the combined results of Composecure and Husky Technologies. The company expects pro forma adjusted net sales in the range of $2,183 to $2,228 million, pro forma adjusted EBITDA of $620 to $650 million, and pro forma adjusted free cash flow of $325 to $375 million. Furthermore, GPGI aims to maintain a non-GAAP year-end net leverage of less than 3.0x.
The company's Executive Chairman, Dave Cote, expressed satisfaction with the strong fourth-quarter and full-year results, emphasizing their confidence in the underlying fundamentals for both businesses and their position for sustainable long-term growth. Meanwhile, Tom Knott, GPGI’s Chief Investment Officer, highlighted the significant momentum and energy under new leadership at Composecure and Husky Technologies, as well as the company's continued focus on making foundational investments to drive growth.
In terms of specific financial results for the fourth quarter and full year 2025, GPGI's gross profit, net income, and pro forma adjusted EBITDA all demonstrated substantial growth compared to the prior-year periods. Notably, the company's gross margin increased by 640 basis points to 36.5% in the fourth quarter, and by 408 basis points to 36.9% for the full year 2025.
GPGI's leadership team is set to discuss the company’s results during a conference call on March 12, 2026, providing further insights into the strong financial and operating performance reported for the fourth quarter and full year 2025. Today the company's shares have moved -0.52% to a price of $25.12. For more information, read the company's full 8-K submission here.
