Welcome to our dedicated page for CompoSecure news (Ticker: CMPO), a resource for investors and traders seeking the latest updates and insights on CompoSecure stock.
CompoSecure, Inc. (Nasdaq: CMPO) is a leading innovator in the card manufacturing industry, renowned for its combination of science and art to deliver highly secure and durable proprietary products. Founded in 2000, CompoSecure has established itself as an industry pioneer, offering an array of products that include laser engravable ID cards, luxury metal card manufacturing services, and durable composite prelam products.
The company's core product offerings are built on cutting-edge engineering capabilities and advanced technology. CompoSecure's metal payment cards and the Arculus digital security platform exemplify its commitment to blending elegance, simplicity, and security. These products enable customers to access and use their financial and digital assets securely, ensuring trust at the point of every transaction.
CompoSecure prides itself on its innovative product development, in-house contract manufacturing, and unwavering commitment to security. The company enhances its clients' brand equity by offering unique card products that stand out in the marketplace, transforming the traditional card transaction process into a special cardholder experience. This success is made possible by CompoSecure's dedicated and experienced team, which boasts over 200 years of combined service in the card industry.
The company recently announced its financial and operating results for the fourth quarter and full year ended December 31, 2023. Key highlights included record revenue and profitability for the year. Sustained demand from U.S. customers drove domestic net sales, contributing to a 9% year-over-year increase. To unlock shareholder value, CompoSecure's board approved a $40 million repurchase program for common stock, warrants, and convertible notes over the next three years.
Looking ahead, CompoSecure is well-positioned for continued growth, with a strategic focus on driving organic growth and paying down debt. The company expects net sales for 2024 to range between $408 million and $428 million, and adjusted EBITDA to range between $147 million and $157 million.
CompoSecure is also recognized as a market leader in the metal payment card industry. A recent ABI Research report underscored the company's commanding market share and its role in shaping the metal payment card into a powerful brand tool for financial institutions and fintechs worldwide. Additionally, CompoSecure's Arculus Authenticate™ platform simplifies secure transactions with user-friendly, passwordless authentication solutions, enhancing customer trust and reducing fraud.
CompoSecure (NASDAQ: CMPO) reported strong Q3 2024 results with Net Sales up 11% to $107.1 million and Adjusted EBITDA up 13% to $40.0 million. Despite posting a GAAP Net Loss of $85.5 million due to stock price-related non-cash items, Adjusted Net Income increased 18% to $25.6 million. The company secured a two-year contract extension with Capital One and completed the Resolute Holdings transaction. CompoSecure revised its 2024 outlook, projecting Net Sales between $418-$424 million and Adjusted EBITDA between $148-$151 million to accommodate growth investments.
CompoSecure (Nasdaq: CMPO), a leader in metal payment cards and security solutions, has achieved ISO/IEC 27001 certification for its premium card manufacturing operations. This globally recognized information security management system standard validates the company's commitment to protecting sensitive information through comprehensive security practices.
The certification confirms CompoSecure's adherence to international best practices for information security, ensuring the confidentiality, integrity, and availability of data throughout the entire card manufacturing lifecycle. COO Greg Maes emphasized that security remains a top priority in the current digital landscape, highlighting the company's dedication to safeguarding client information and assets.
CompoSecure (Nasdaq: CMPO), a leader in metal payment cards, security, and authentication solutions, announced it will host a conference call on November 8, 2024, at 8:30 a.m. EST to discuss its third quarter 2024 financial results. The company will release its financial results before the call. Executive Chairman David Cote, President & CEO Jon Wilk, and CFO Tim Fitzsimmons will lead the call, followed by a Q&A session. Participants are advised to register 15 minutes before the start time.
CompoSecure (Nasdaq: CMPO), a leader in metal payment cards, security, and authentication solutions, has appointed Dr. Krishna Mikkilineni to its Board of Directors, effective immediately. Dr. Mikkilineni brings extensive experience in operations and technology, with a proven track record at global organizations like Honeywell. He currently serves as General Partner of a deep tech venture fund and startup accelerator, where he has helped fund and grow 30 technology-driven startups since 2019.
Previously, Dr. Mikkilineni held various senior roles at Honeywell International for over 33 years, including global Chief Technology Officer, Integrated Supply Chain Officer, and Chief Information Officer. He also established Honeywell's engineering operation in India, growing the global engineering force to over 11,000. Dr. Mikkilineni replaces Niloo Razi Howe, who recently resigned from the Board due to personal reasons.
CompoSecure, a leader in metal payment cards and security solutions, has been awarded a Silver Medal by EcoVadis for the second consecutive year, placing it in the top 15% of companies globally for sustainability practices. The company improved its score from 60 in 2023 to 67 in 2024, demonstrating significant progress in integrating ESG principles into its operations.
Key highlights contributing to the Silver Medal include:
- Expanded use of recycled materials in metal payment cards
- Fair labor practices and safe working conditions
- Alignment with global corporate responsibility standards
- High standards for sustainable sourcing and procurement
CompoSecure's COO, Greg Maes, expressed gratitude for the recognition and emphasized the company's commitment to environmental progress and enhancing ESG practices.
CompoSecure (Nasdaq: CMPO) announced the completion of Resolute Holdings' acquisition of a majority interest, valued at approximately $372 million. The transaction involved Resolute acquiring 49.3 million Class A shares, representing about 60% of CompoSecure's outstanding shares. David Cote, former CEO of Honeywell, has been appointed executive chairman of the board.
In conjunction with the acquisition, five new board members were appointed: Tom Knott, Joseph DeAngelo, Roger Fradin, Mark James, and John Cote. The board now consists of 11 members, with two long-standing members, Mitchell Hollin and Michele Logan, departing as part of the transaction.
The new leadership aims to focus on enhancing CompoSecure's organic growth, operational efficiency, and exploring M&A opportunities to diversify the company's customer base and business mix.
CompoSecure (Nasdaq: CMPO) CEO Jon Wilk has been named Payments Professional of the Year at The Digital Banker's Global Cards & Payments Innovation Awards. This recognition highlights Wilk's impact on the industry through his leadership and innovation, transforming CompoSecure into a global fintech powerhouse.
Under Wilk's guidance, CompoSecure has evolved from a niche metal payment card manufacturer to a leading global fintech innovator. He has driven the company's substantial growth, led its global expansion, and successfully took the company public on Nasdaq. Wilk's forward-thinking approach to payment solutions and focus on client relationships have been key to CompoSecure's success.
CompoSecure (Nasdaq: CMPO) has been honored with two prestigious awards at The Digital Banker's Global Cards & Payments Innovation Awards. The company's Arculus product won the Best Security Initiative category for its innovative passwordless technology that enhances security while reducing fraud risks and operational costs. Additionally, CompoSecure's Echo Mirror™ Card was recognized as the Best Payments Solution by a Vendor for its unique blend of sustainability, security, and sleek design, utilizing 65% recycled materials.
These awards highlight CompoSecure's commitment to innovation and security in the payments industry. The company's Chief Innovation and Product officer, Adam Lowe, emphasized that these recognitions reflect their dedication to delivering groundbreaking solutions that drive trust, differentiation, and value for customers in the evolving payments landscape.
CompoSecure reported record Q2 2024 financial results, with net sales up 10% to $108.6 million and net income rising 3% to $33.6 million. Adjusted EBITDA increased 8% to $40 million. The company has narrowed its 2024 full-year guidance, now anticipating net sales between $418-$428 million and adjusted EBITDA between $150-$157 million.
The David Cote Family acquired a majority interest in CompoSecure, with David Cote becoming Executive Chairman. This move aims to simplify the corporate structure and enhance shareholder value. The company also expanded its partnership with Fiserv to market Arculus Authenticate.
Operational highlights include launching new card programs with Wells Fargo and Amex, winning three International Card Manufactures Awards, and receiving recognition from industry bodies.
CompoSecure amended its credit facility, securing lower rates and a longer term. The company had $35.4 million in cash and $330.9 million in total debt as of June 30, 2024.
Resolute Holdings, led by David Cote and Tom Knott, is set to acquire a majority interest in CompoSecure (Nasdaq: CMPO), a leader in metal payment cards and security solutions. The David Cote Family is investing $372 million through Resolute, with Cote becoming executive chairman upon closing. This transaction will eliminate CompoSecure's dual-class structure, simplifying corporate governance and aligning shareholder interests. Resolute will focus on operational and M&A best practices to drive long-term value creation. The deal is expected to close by September 30, 2024, subject to customary conditions and regulatory approvals.
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