CompoSecure, Inc. - CMPO STOCK NEWS

CompoSecure and PYMNTS Intelligence released the industry's first tap-to-authenticate report, revealing critical security challenges in financial institutions (FIs). The study shows that 87% of FIs experienced an increase in stolen credentials amid rising fraud cases. 69% of FIs are prioritizing authentication system improvements, with 77% considering tap-to-authenticate metal cards.

The report, based on data from 200 financial institution executives, highlights that among FIs using metal cards, 96% expect improved customer experience and loyalty, 92% see ROI potential, and 84% anticipate higher profits and improved security with tap-to-authenticate technology. CompoSecure's Arculus Authenticate solution offers a dual-function card serving as both authentication passkey and payment card.

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.