Latest news with #Wilk
TECHx
02-06-2025
- Business
- TECHx
Gigamon Appoints Damian Wilk to Lead EMEA Markets
Home » C-Suite Watch » Gigamon Appoints Damian Wilk to Lead EMEA Markets Gigamon, a leading deep observability company, has announced the appointment of Damian Wilk as General Manager for EMEA Emerging Markets. The company revealed that this strategic move supports its goal of accelerating growth across the region. EMEA Emerging Markets are facing a rapidly evolving and AI-driven threat landscape. Gigamon reported that this has left many organizations exposed to growing cybersecurity risks. As a result, deep observability has become critical for securing and managing today's hybrid cloud environments. According to the Gigamon 2025 Hybrid Cloud Security Survey: 89% of Security and IT leaders agree deep observability is foundational for cloud security. The Gigamon Deep Observability Pipeline helps eliminate blind spots, optimize network traffic, and improve tool efficiency by up to 90%. Wilk, based in Dubai, will lead efforts across the Middle East, Africa, and Southern Europe. Gigamon stated that his role includes accelerating customer growth, expanding channel partnerships, and driving adoption of the Deep Observability Pipeline. The appointment marks a strategic effort to enhance customer engagement and strengthen Gigamon's regional presence. The company revealed that the deep observability market grew 17% year-over-year in 2024. Mark Coates, Vice President of EMEA at Gigamon, said Wilk is a dynamic sales leader with deep customer understanding and a strong track record. Wilk shared that Gigamon is uniquely positioned to help organizations gain full visibility across hybrid cloud infrastructure. He emphasized the company's focus on customer-centric solutions that drive outcomes. Wilk brings over two decades of enterprise sales leadership across the UK and EMEA. His experience includes roles at Rubrik, Veritas Technologies, Good Technology, and Cisco, where he led strategic initiatives in cybersecurity and data management. Gigamon reported that this leadership change highlights its commitment to delivering greater value to customers and partners in key markets.
Yahoo
23-05-2025
- Business
- Yahoo
Poland, Romania lead a drone bonanza in Eastern Europe
WARSAW, Poland — As Poland's military is developing the Drone Force, its latest military component that was launched earlier this year, the Ministry of National Defence recently signed a deal to purchase the largest number of unmanned aerial vehicles in the country's history. The move comes as various Eastern European allies are advancing major drone purchases, drawing lessons from Russia's war against Ukraine. On May 15, the Polish ministry signed a framework agreement with local private defense company WB Group to buy some 10,000 units of the Warmate loitering munition. The contract foresees deliveries until 2035. 'This is a large-scale investment – 10,000 Warmate drones are becoming a fact,' Władysław Kosiniak Kamysz, Poland's deputy prime minister and defense minister, said at the official signing ceremony, as quoted in a statement. 'They will soon start being delivered to the Polish military. The next deals, which will be executive, will be signed in the near future,' he added. WB Group has been expanding its portfolio of UAVs over the past years. Some of the latest additions to the company's range include the Warmate TL-R reconnaissance system, FT5 mini tactical class drones in new variants, Warmate 20 loitering munition, and the extended-range Warmate 50. Warmate 20 has a range of 'several hundred kilometers' and Warmate 50's range exceeds that of Warmate 20, according to the company. Remigiusz Wilk, the head of communications at WB Group, told Defense News that, since the war's outbreak, the drone producer has observed a surge in interest in unmanned capabilities across the region. 'Drones are now considered an important protective measure for soldiers,' Wilk said. 'When combined, they allow to create complex aerial systems.' In the fighting between Ukraine against Russian invaders, sections of the front line have almost become devoid of human soldiers, with drones patrolling large swathes of land, ready to pounce on anything that moves. 'The more we push soldiers away from the battlefield and replace them with drones, the safer they are,' Wilk said. 'Drones have the potential to protect many lives, and the military appreciates this now more than ever before.' The Polish Armed Forces are showing an growing interest in buying new UAVs to develop their Drone Force, but WB Group is also using the company's expanding manufacturing capabilities to unlock additional markets. 'WB Group is currently building new facilities to produce more drones,' the spokesman said, listing countries in Europe and Asia, including South Korea and Malaysia, as clients. 'We have supplied drones to Ukraine's military since 2015, so we are in an optimal position to draw lessons from the conflict and continue to enhance our unmanned systems to respond to the evolving battlefield requirements.' At the same time, the Polish Drone Force will also comprise larger UAVs. In December 2024, the ministry signed a contract worth around $310 million to acquire an undisclosed number of MQ-9B Sky Guardian drones. The UAVs are to be delivered to Poland's military by the first quarter of 2027. Meanwhile in Romania, the country's economy minister, Bogdan Ivan, recently paid a visit to the factories of local drone manufacturers Carfil SA and IAR Ghimbav. During his visit to their facilities, Ivan announced Bucharest intends to use a significant portion of the European Union's funds for defense acquisitions by member states to buy drones for Romania's military. The Romanian minister was referring to the ReArm Europe plan, an initiative designed to bolster the EU's defense expenditure and capacities. Mobilizing up to €800 billion ($906 billion) through various means, the program is to stimulate higher national defense budgets and finance a new loan instrument available to member states to facilitate equipment purchases. Romanian officials hope the rising domestic drone production capabilities will allow to ramp up the military's unmanned capacities, but also enable local producers to sell a sizable share of their output abroad, according to the economy minister. 'When you have a production line that can make up to 3,500 drones annually, we will not only produce for the Romanian military,' Ivan said, as quoted by local daily Adevarul.
RTÉ News
15-05-2025
- RTÉ News
Inquest into death of Polish man adjourned for 14th time
Gardaí in Cork have thanked the city coroner for his patience and understanding as they sought a fourteenth adjournment of the inquest into the death of a man killed in front of his wife and children almost seven years ago, so that gardaí can get instructions on a murder file from the DPP. Sergeant Fergus Twomey told Cork City Coroner's Court that the inquest into the death of Polish national, Mikolaj Will had been first opened on 1 November 2018 when evidence of identification and of the cause of Mr Wilk's death were laid before the court. Mr Wilk, a Polish national worked as a landscape gardener. He was attacked by up to five masked men armed with machetes when they burst into his home, the Bridge House at Maglin near Ballincollig around 3am on 10 June 2018. Mr Wilk was repeatedly hacked in front of his wife, Elzbieta, who sustained serious slash injuries to her face, neck and hands as she sought to protect her husband. The couple's two children, who were both under six years of age at the time, were uninjured in the incident. A woman in her 30s, who was renting a room from the Wilks, managed to flee through a window at the rear of the house and ran to a nearby house to raise the alarm and gardaí responded finding Mr Wilk in a critical condition. Gardaí and HSE paramedics worked to try and stabilise Mr Wilk's condition before he was taken by ambulance to Cork University Hospital, where despite the extensive and horrific nature of his injuries, he survived for two hours before losing his fight for life. Re-opening the case today, Sgt Twomey said that the inquest had been mentioned 14 times including today since 1 November 2018 and he thanked Cork City Coroner Philip Comyn for his "patience and understanding" but he could now confirm that a file on the murder had been sent to the DPP. "This was a mammoth investigation with thousands of tasks and inquiries both within the State and in European countries with assistance from other police forces and a comprehensive investigation file has been forwarded to the DPP seeking directions." He said that as a consequence he was seeking another adjournment under Section 25 of the Coroner's Act 1962 to have the inquest adjourned until 15 November for mention to allow investigators to wait for the DPP's directions. Mr Comyn said that it was evident from what Sgt Twomey said that gardaí had made progress in their investigation into the murder of Mr Wilk and as a result he was willing to adjourn the matter to allow gardaí obtain directions from the DPP on the case. "I know this case dates from 2018 but I note that there has been a lot of work done by An Garda Síochána in the investigation and they have now forwarded a file to the Director of Public Prosecutions so I'm happy to adjourn it," he said, adjourning the matter until 15 November. A Garda Family Liaison Officer has been keeping Mr Wilk's wife, Elzbieta informed of developments. She and her children returned to Poland in June 2018 following the murder of her husband.
Irish Examiner
15-05-2025
- Irish Examiner
Cork machete murder: Gardaí submit file to DPP on the killing of Mikolaj Wilk
Gardaí investigating the brutal murder of a man who was hacked to death by a gang in Cork almost seven years ago have submitted a massive file on the case to the Director of Public Prosecutions (DPP). Sergeant Fergus Twomey told Cork City Coroner Philip Comyn that gardaí have conducted a "mammoth" investigation into the murder of Polish man, Mikolaj Wilk, 35, in his rented home near Ballincollig, west of Cork city, in June 2018, as the adjourned inquest into the death was in for mention. It was opened on November 1, 2018 to hear evidence of identification and cause of death, and has been adjourned for mention 14 times over the years as the active garda investigation continued. 'This was a mammoth investigation with thousands of tasks and inquiries both within the state and in European countries with assistance from other police forces and a comprehensive investigation file has been forwarded to the DPP seeking directions," Sgt Twomey said. Mr Comyn said while the case dates back to 2018, it was clear there has been a lot of work done by the gardaí involved and he was satisfied to further adjourn the hearing until November. St Augustine's Church, Washington St, Cork, was packed for a Mass celebrated by Polish chaplain Fr Pitor Galus in June 2018 for the Wilk family. file picture: David Keane Mr Wilk was attacked in front of his wife, Elzbieta, by a gang of up to five masked men armed with machetes, at their home in Maglin, just outside Ballincollig, in the early hours of June 10, 2018. Elzbieta suffered serious injuries to her face, neck and hands as she tried to protect her husband. Their two young children, who were in the house at the time, were not physically injured. A woman who was renting a room in the house fled through a rear window and raised the alarm with neighbours. Gardaí and emergency services rushed to the scene and found Mr Wilk in critical condition, with senior gardaí describing the scene and level of violence inflicted as one of the worst they had encountered. Mr Wilk was rushed to Cork University Hospital, but died two hours later his injuries. Gardaí launched a massive investigation and over the coming months arrested six suspects, two Poles, two Latvians, and an Irish man and woman, all in their 30s and all with addresses at the time in Cork city. They were all released with without charge pending a file to the DPP. Elzbieta, who returned to Poland with her children in June 2018, has been kept up to date on the investigation.
Yahoo
13-05-2025
- Business
- Yahoo
CompoSecure Reports First Quarter 2025 Financial Results
Operating results in line with expectations Reiterating previously issued full-year 2025 guidance Completed spin-off of Resolute Holdings Management, Inc. (Nasdaq: RHLD) Accounting standards related to the spin-off require the Company to report results using equity method of accounting in accordance with U.S. GAAP Non-GAAP results are also included below and provide a clearer picture of the underlying financial performance of the operating business consistent with historical reporting SOMERSET, N.J., May 12, 2025 (GLOBE NEWSWIRE) -- CompoSecure, Inc. (Nasdaq: CMPO), a leader in metal payment cards, security, and authentication solutions, today announced its financial and operating results for the first quarter ended March 31, 2025. 'We started the year with solid execution across our payment card and Arculus business,' said Jon Wilk, President and CEO of CompoSecure. 'Demand has continued to strengthen throughout the second quarter, reflecting strong sales momentum, and we anticipate this sustained growth trajectory will carry through the remainder of the year. Our team remains focused on continuing to implement the CompoSecure Operating System ('COS') throughout the business and we are beginning to see these ongoing efforts yield results.' Mr. Wilk added, 'We delivered record results for Arculus, generating another net positive contribution in Q1 as we are seeing metal card customers beginning to future-proof their offerings by bundling Arculus Authenticate with payment capabilities. As previously stated, we expect a net positive contribution for the full year as Arculus remains a powerful differentiator that sets CompoSecure apart in the digital asset and evolving Web3 payments landscape.' Dave Cote, CompoSecure's Executive Chairman, stated: 'I am pleased with our first quarter results and with the team's continued engagement implementing COS. Our metal cards enhance brand loyalty and deliver accelerated returns for our customers through superior acquisition, spending, and retention. As more issuers recognize the value our products deliver, we see significant opportunities for continued growth and are planting seeds through strategic investments to execute on the market opportunity we see while leveraging the COS to enhance efficiency and execution. Taken together, we are excited about the work at CompoSecure and believe the Company is well positioned for the remainder of 2025.' Financial ResultsAs a result of the spin-off of Resolute Holdings Management, Inc. ('Resolute Holdings') on February 28, 2025 and the execution of the management agreement with Resolute Holdings, CompoSecure is required to account for the operating results of its wholly owned operating subsidiary, CompoSecure Holdings L.L.C. ('CompoSecure Holdings'), under the equity method in accordance with U.S. GAAP, effective February 28, 2025. The GAAP results presented below reflect the consolidated operating results of CompoSecure from January 1, 2025 to February 27, 2025 and the subsequent conversion to the equity method presentation from February 28, 2025 to March 31, 2025. For clarity of comparisons and to best reflect the financial results associated with the standalone payment card and Arculus business, the Company is also presenting the full first quarter on a historical consolidated basis under the 'Non-GAAP Results' heading below. 1Q 2025 1Q 2024 Accounting Treatment GAAP Non-GAAP GAAP Non-GAAP Net Sales ($ in millions) $59.8 $103.9(1) $104.0(1) $104.0(1) Gross Profit ($ in millions) $28.70 $54.50(1) $55.20(1) $55.20(1) Gross Margin (%) 48.1 52.5(1) 53.1(1) 53.1(1) Pro-Forma Adjusted EBITDA ($ in millions) $33.7(2) $34.5(2) EPS/Adjusted EPS – Diluted $0.07 $0.25 $0.17 $0.24 Cash ($ in millions) $9.5 $71.7(1,3) $55.1(1,4) $55.1(1,4) Total Debt ($ in millions) $195.0(3) $335.6(4) (1) Refers to a Consolidated Non-GAAP Measure. For 1Q24, Net Sales, Gross Profit, Gross Margin, and Cash are identical on a GAAP and Non-GAAP basis, because such measures have historically been shown on a consolidated basis; (2) Pro-Forma Adjusted EBITDA in the table includes (~$3.2mm) expense in both 1Q25 and 1Q24. This expense represents a full quarter of management fees due to Resolute Holdings. The adjustment was made to allow for comparability across periods. The actual payment to Resolute Holdings in 1Q25 was $1.1mm because the contract has been effective since February 28th spin-off. $0 were paid in 1Q24 because Resolute Holdings did not exist. Please see Statement of Operations on page 9 for full reconciliation. (3) As of March 31, 2025. (4) As of March 31, 2024. GAAP Results: Q1 2025 Financial Highlights (vs. Q1 2024) Important Note: These GAAP results reflect the consolidation of CompoSecure Holdings, L.L.C. through February 27, 2025, and the application of equity method accounting beginning February 28, 2025, following the completion of the Resolute Holdings Management, Inc. spin-off. Net Sales: Net Sales in CompoSecure Inc., were $59.8 million from January 1, 2025 through February 27, 2025; and Net Sales of CompoSecure Holdings were $44.1 million from February 28, 2025 through March 31, 2025 (which is reflected in the Company's financial statements as an equity method investment from February 28, 2025). Net Income: Net Income was $21.5 million compared to $17.1 million in the year-ago period. Earnings Per Share: EPS attributable to Class A common shareholders was $0.21(Basic) and $0.07(Diluted) compared to $0.20 (Basic) and $0.17 (Diluted) in the year-ago period. The increase was primarily driven by non-cash gains related to the revaluation of warrant and earnout liabilities. Non-GAAP Results: Q1 2025 Financial Highlights (vs. Q1 2024) Consolidated Net Sales: Consolidated Net Sales were $103.9 million compared to $104.0 million in the year-ago period. Consolidated Gross Profit: Consolidated Gross Profit was $54.5 million or 52.5% of Net Sales, compared to $55.2 million or 53.1% in the year-ago period. The decrease in gross margin was primarily driven by product mix. Adjusted Net Income Adjusted Net Income increased 21% to $28.4 million compared to $23.3 million in the year-ago period. Adjusted Earnings Per Share: Adjusted Earnings Per Share was $0.28 (Basic) and $0.25 (Diluted) compared to $0.29 (Basic) and $0.24 (Diluted) in the year-ago period. Pro Forma Adjusted EBITDA: Pro Forma Adjusted EBITDA was $33.7 million compared to $34.5 million in the year-ago period, with the decrease primarily due to higher general and administrative expenses due to growth investments. Financial Condition GAAP Financial Condition: At March 31, 2025, CompoSecure had $9.5 million of cash and cash equivalents. The Company's liquidity needs are expected to be met with funding from the operations of CompoSecure Holdings. Non-GAAP Financial Condition: At March 31, 2025, CompoSecure had $71.7 million of cash and cash equivalents and $195.0 million of total debt, resulting in net debt of $180.7 million. This compares to cash and cash equivalents of $55.1 million and total debt of $335.6 million at March 31, 2024. CompoSecure's bank agreement senior secured debt leverage ratio was 1.05x at March 31, 2025 compared to 1.34x at March 31, 2024. Additional Highlights Vertical industry successes for Arculus include MetaMask (crypto payments), MoneyGram (cross-border payment services), and Circular (healthcare). 2025 Financial Outlook CompoSecure is reiterating its previously issued full year 2025 guidance, which calls for mid-single digit growth in both Consolidated Net Sales and Pro Forma Adjusted EBITDA with sales momentum building through the year. This guidance includes payment of the Resolute Holdings management fee in 2025 and 2024, on a pro forma basis. Conference Call CompoSecure will host a conference call and live audio webcast today at 5:00 p.m. Eastern time to discuss its financial and operational results, followed by a question-and-answer session. Date: Monday, May 12, 2025Time: 5:00 p.m. Eastern timeDial-in registration link: hereLive webcast registration link: here If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829. A live webcast and replay of the conference call will be available on the investor relations section of CompoSecure's website at About CompoSecure Founded in 2000, CompoSecure (Nasdaq: CMPO) is a technology partner to market leaders, fintechs and consumers enabling trust for millions of people around the globe. The company combines elegance, simplicity and security to deliver exceptional experiences and peace of mind in the physical and digital world. CompoSecure's innovative payment card technology and metal cards with Arculus security and authentication capabilities deliver unique, premium branded experiences, enable people to access and use their financial and digital assets, and ensure trust at the point of a transaction. For more information, please visit and Forward-Looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management. Although CompoSecure believes that its plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, CompoSecure cannot assure you that it will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning CompoSecure's possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. In some instances, these statements may be preceded by, followed by, or include the words 'believes,' 'estimates,' 'expects,' 'projects,' 'forecasts,' 'may,' 'will,' 'should,' 'seeks,' 'plans,' 'scheduled,' 'anticipates' or 'intends' or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements which speak only as of the date hereof. You should understand that the following important factors, among others, could affect CompoSecure's future results and could cause those results or other outcomes to differ materially from those expressed or implied in CompoSecure's forward-looking statements: the ability of CompoSecure to grow and manage growth profitably, maintain relationships with customers, compete within its industry and retain its key employees; the possibility that CompoSecure may be adversely impacted by other global economic, business, competitive and/or other factors, including tariffs; the outcome of any legal proceedings that may be instituted against CompoSecure or others; future exchange and interest rates; changes in our accounting and/or financial presentation; and other risks and uncertainties, including those under 'Risk Factors' in filings that have been made or will be made with the Securities and Exchange Commission. CompoSecure undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Use of Non-GAAP Financial Measures Due to the spin-off of Resolute Holdings Management, Inc. and the resulting shift to equity method accounting under GAAP beginning February 28, 2025, CompoSecure is presenting a broader set of non-GAAP measures, including an Adjusted Statement of Operations (Unaudited), an Adjusted Balance Sheet (Unaudited), Consolidated Net Sales, Consolidated Gross Profit, Consolidated Gross Margin, Consolidated Total Cash, Consolidated Net Debt and related measures, to provide investors with financial information that we believe allows for greater comparability with our historical financial presentation and better represents the underlying performance of the standalone business across reporting periods. This press release also includes certain non-GAAP financial measures that are not prepared in accordance with accounting principles generally accepted in the United States ('GAAP') and that may be different from non-GAAP financial measures used by other companies. CompoSecure believes EBITDA, Adjusted EBITDA, Pro Forma Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, Consolidated Net Sales, Consolidated Gross Profit, Consolidated Gross Margin, Consolidated Total Cash, Consolidated Net Debt and related measures are useful to investors in evaluating CompoSecure's financial performance. Specifically, we believe EBITDA, Adjusted EBITDA, and Pro Forma Adjusted EBITDA provide valuable insight into operational efficiency independent of capital structure and tax environment; Adjusted Net Income and Adjusted EPS offer investors a clearer view of ongoing profitability by excluding non-recurring and non-operational items; and Consolidated Net Sales, Consolidated Gross Profit, Consolidated Gross Margin, Consolidated Total Cash, Consolidated Net Debt and related measures provide greater comparability with CompoSecure's historical results, following the change in accounting presentation required as a result of the spin-off of Resolute Holdings. CompoSecure uses these non-GAAP measures internally to establish forecasts, budgets and operational goals to manage and monitor its business, as well as evaluate its underlying historical performance and/or measure incentive compensation. We believe that these non-GAAP financial measures depict the true performance of the business by encompassing only relevant and controllable events, enabling CompoSecure to evaluate and plan more effectively for the future. EBITDA, Adjusted EBITDA, Pro Forma Adjusted EBITDA, Adjusted Net Income, Adjusted EPS, Consolidated Net Sales, Consolidated Gross Profit, Consolidated Gross Margin, Consolidated Total Cash, Consolidated Net Debt and related measures should not be considered as measures of financial performance under U.S. GAAP, and the items excluded from these measures are significant components in understanding and assessing CompoSecure's financial performance. Accordingly, these key business metrics have limitations as an analytical tool. They should not be considered as an alternative to net income or any other performance measures derived in accordance with U.S. GAAP or as an alternative to cash flows from operating activities as a measure of CompoSecure's liquidity. These non-GAAP measures may be different from similarly titled non-GAAP measures used by other companies. Additionally, CompoSecure's debt agreements contain covenants based on variations of these measures for purposes of determining debt covenant compliance. CompoSecure believes that investors should have access to the same set of tools that its management uses in analyzing operating results. Please refer to the tables below for the reconciliation of GAAP measures to these non-GAAP measures. Due to the forward-looking nature of the financial guidance included above, the charges excluded from the non-GAAP financial measures, including with respect to depreciation, amortization, interest, and taxes that would be required to reconcile the non-GAAP financial measures to GAAP measures are inherently uncertain or difficult to predict, so it is not feasible to provide accurate forecasted non-GAAP reconciliations without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included, and no reconciliation of the forward-looking non-GAAP financial measures is included. Corporate Contact Anthony PiniellaHead of Communications, CompoSecure(917) 208-7724apiniella@ Investor Relations Contact Sean Mansouri, CFAElevate IR(720) 330-2829CMPO@ Non-GAAP Adjusted Balance Sheet (unaudited) $ Thousands GAAP Non GAAP March 31, 2025 March 31, 2025 December 31, 2024 ASSETS CURRENT ASSETS Cash and cash equivalents $ 9,506 $ 71,676 $ 77,461 Accounts Receivable - 54,188 47,449 Inventories, net - 47,501 44,833 Prepaid expenses and other current assets 1,321 4,138 4,159 Total current assets 10,827 177,503 173,902 Property and equipment, net and right of use asset - 31,045 28,852 Deferred tax asset 266,652 266,652 264,815 Other assets - 5,953 6,349 Equity method Investment 14,844 - - Total Assets $ 292,323 $ 481,153 $ 473,918 GAAP Non GAAP March 31, 2025 March 31, 2025 December 31, 2024 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 4,025 $ 15,263 $ 11,544 Accrued expenses 28,594 50,865 25,711 Current portion of long-term debt - 12,500 11,250 Other current liabilities 14,474 16,513 27,817 Total current liabilities 47,093 95,141 76,322 Long-term debt, net of deferred finance costs - 180,713 184,389 Warrant liability 84,003 84,003 104,231 Lease liabilities, operating leases - 7,723 3,888 Tax receivable agreement liability 248,534 248,534 248,534 Total liabilities 379,630 616,114 617,364 Shareholder's deficit (87,307 ) (134,961 ) (143,446 ) Total liabilities and shareholder's deficit $ 292,323 $ 481,153 $ 473,918 Source: Company financials Note: Financial position has been derived from CompoSecure's consolidated financial statements for the quarter ended March 31, 2025 and December 31, 2024, Statement of Operations(in thousands, expect per share amounts)(unaudited) A photo accompanying this announcement is available at Consolidated Statements of Cash Flows (in thousands) (unaudited) Three Months Ended March 31, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITES: Net (loss) income $ 21,492 $ 17,073 Adjustments to reconcile net income to net cash provided by operating activities Depreciation and amortization 2,273 2,221 Stock-based compensation expense 5,721 4,397 Amortization of deferred finance costs 131 345 Non-cash operating lease expense 615 584 Revaluation of earnout consideration liability (11,230 ) 1,459 Revaluation of warrant liability (17,921 ) 7,397 Change in fair value of derivative liability - 297 Deferred tax expense (1,837 ) (1,867 ) Changes in assets and liabilities Accounts receivable (6,739 ) 5,378 Inventories (2,668 ) (2,657 ) Prepaid expenses and other assets 21 (119 ) Accounts payable 3,719 (446 ) Accrued expenses 29,585 1,486 Lease liabilities (578 ) (603 ) Other liabilities (4,430 ) (1,194 ) Net cash provided by operating activities 18,154 33,751 CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of property and equipment (576 ) (1,613 ) Capitalized software expenditures (580 ) - Net cash used in investing activities (1,156 ) (1,613 ) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from warrants and exercise of options 5,009 107 Payments for taxes related to net share settlement of equity awards (15,284 ) (3,476 ) Payment due to Spin-Off (10,008 ) - Payment of term loan (2,500 ) (4,688 ) Tax distributions to non-controlling members - (10,151 ) Net cash used in financing activities (22,783 ) (18,208 ) Net increase (decrease) in cash and cash equivalents (5,785 ) 13,930 Cash and cash equivalents, beginning of period 77,461 41,216 Cash and cash equivalents, end of period $ 71,676 $ 55,146 Supplementary disclosure of cash flow information Cash paid for interest expense $ 3,299 $ 4,175 Supplemental disclosure of non-cash financing activity: Derivative asset - interest rate swap $ (753 ) $ 452 Source: Company financials Note: Operating results have been derived from CompoSecure's consolidated financial statements for the three months ended March 31, 2025 and 2024, respectively. Q1 Earnings Per Share: Non-GAAP Reconciliation Basic Diluted Three Months EndedMarch 31, Three Months EndedMarch 31, 2025 2024 2025 2024 (in thousands) (in thousands) Net income $ 21,492 $ 17,073 Adjusted net income $ 28,412 $ 23,317 Add(less): provision (benefit) for income taxes 27,004 (836 ) Add: Interest on Exchangeable Notes net of tax - 1,781 Income before Income taxes 48,496 16,237 Adjusted net income used in computing net income per share, diluted (5) 28,412 25,098 Add (Less): mark-to-market adjustments (1) (29,151 ) 9,153 Common shares outstanding used in computing earnings per share, diluted: 102,040 80,525 Add: stock-based compensation 5,720 4,397 Warrants (4) 9,878 8,094 Add: spin-off cost 5,019 - Exchangeable Notes (5) - 13,000 Adjusted net income before tax 30,084 29,787 Equity awards 3,533 2,710 Income tax expense (2) 1,672 6,470 Total Shares outstanding used in computing adjusted earnings per share-Diluted 115,451 104,329 Adjusted net income 28,412 23,317 Adjusted net income per share - Diluted $ 0.25 $ 0.24 Common shares outstanding used in computing net income per share, basic: Class A and Class B common shares (3) 102,040 80,525 Adjusted net income per share - basic $ 0.28 $ 0.29 Source: Company Financials 1) Includes the changes in fair value of warrant liability, make-whole provision of Exchangeable Notes and earnout consideration liability. 2) Reflects current and deferred income tax expenses. For the three months ended March 31, 2024 it was calculated using the Company's blended tax rate as if the Company did not have any non-controlling interest associated with its historical Up-C structure. For the three months ended March 31, 2025, it was calculated by applying the Company's blended tax rate to the presented adjustments and including the Company's provision less tax associated with a taxable gain from the distribution of appreciated property related to the Spin-Off. 3) Assumes both Class A and Class B shares participate in earnings and are outstanding at the end of the period. There were no Class B shares outstanding as of March 31, 2025. 4) Assumes treasury stock method, valuation at assumed fair market value of $14.47. 5) The Exchangeable Notes were included through the application of the "if-converted" method. Interest related to the Exchangeable Notes, net of tax was excluded from net income. No Exchangeable notes were outstanding during the three months ended March 31, 2025. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
