CompoSecure Inc
For the period ended Dec 31, 2024. Filed Mar 5, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 5, 2025
GPGI$14.95-2.6%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
COMPOSECURE, INC.
Consolidated Statements of Cash Flows
($ in thousands)
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net (loss) income | $(83,162) | $112,520 | $131,815 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities | |||
| Depreciation and amortization | 9,174 | 8,387 | 8,575 |
| Stock-based compensation expense | 21,235 | 17,562 | 11,465 |
| Inventory reserve | (294) | (1,182) | 1,668 |
| Amortization of deferred financing costs | 1,155 | 1,546 | 2,345 |
| Loss on extinguishment of debt | 148 | — | — |
| Revaluation of earnout consideration liability | 76,305 | (14,237) | (23,337) |
| Revaluation of warrant liability | 95,937 | (8,047) | (18,930) |
| Change in fair value of derivative liability | (425) | 139 | (266) |
| Deferred tax expense | (2,469) | 2,667 | 3,193 |
| Changes in assets and liabilities | |||
| Accounts receivable | (6,961) | (3,216) | (9,347) |
| Inventories | 8,001 | (8,984) | (18,237) |
| Prepaid expenses and other assets | 974 | (1,309) | (1,228) |
| Accounts payable | 6,351 | (1,934) | 68 |
| Accrued expenses | 2,696 | 1,833 | 23 |
| Deposits and other assets | — | — | (14) |
| Other liabilities | 888 | (1,433) | 4,990 |
| Net cash provided by operating activities | 129,553 | 104,312 | 92,783 |
| Cash flows from investing activities | |||
| Purchase of property and equipment | (7,410) | (10,944) | (9,053) |
| Investment in SAFE | (1,500) | — | — |
| Capitalized software expenditures | (1,035) | — | — |
| Net cash used in investing activities | (9,945) | (10,944) | (9,053) |
| Cash flows from financing activities | |||
| Proceeds from employee stock purchase plan and exercise of options | 4,998 | 1,196 | 82 |
| Payments for taxes related to net share settlement of equity awards | (8,994) | (3,126) | — |
| Payments for taxes related to net share settlement of Earnouts | (3,789) | — | — |
| Payment of line of credit | — | — | (15,000) |
| Payment of term loan | (12,813) | (22,810) | (16,878) |
| Payment of tax receivable agreement liability | (1,303) | (2,436) | (110) |
| Deferred finance costs related to debt modification | (2,104) | (256) | — |
| Tax distributions to non-controlling members | (34,863) | (38,362) | (36,293) |
| Special Distribution to non-controlling members | (15,573) | — | — |
| Dividend to Class A shareholders | (8,922) | — | — |
| Issuance cost related to Business Combination | — | — | (23,833) |
| Net cash used in financing activities | (83,363) | (65,794) | (92,032) |
| Net increase (decrease) in cash and cash equivalents | 36,245 | 27,574 | (8,302) |
| Cash and cash equivalents , beginning of year | 41,216 | 13,642 | 21,944 |
| Cash and cash equivalents, end of year | $77,461 | $41,216 | $13,642 |
| Supplementary disclosure of cash flow information: | |||
| Cash paid for interest expense | $20,608 | $27,247 | $21,379 |
| Cash paid for income taxes | $4,820 | $2,760 | $858 |
| Supplemental disclosure of non-cash financing activities: | |||
| Revaluation of derivative asset - interest rate swap | $(2,448) | $(3,292) | $8,283 |
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