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Credit services · Financial Services · Fiscal year ends Dec 31
GPGI reported revenue of $60M in the fiscal year ended Dec 2025, down 85.8% from the year before. Operating income was −$14M, an operating margin of −23.0%, and net income was −$136M. Operating cash flow of −$23M less capital expenditure of $0 left free cash flow of −$23M.
Ranks among the 35 credit services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 268 | 378 | 391 | 421 | 59.8 |
| Cost of revenue | 123 | 159 | 182 | 201 | 31.1 |
| Gross profit | 145 | 220 | 209 | 219 | 28.7 |
| Research & development | 2.7 | 6.7 | 6.8 | 7.4 | 1.3 |
| Selling, general & admin | 80.9 | 117 | 95.0 | 116 | 43.1 |
| Operating income | 81.4 | 115 | 119 | 108 | −13.7 |
| Interest expense | 11.9 | 21.4 | 27.5 | 20.2 | 1.7 |
| Pre-tax income | 82.6 | 136 | 117 | −81.0 | −226 |
| Income tax | −0.9 | 4.4 | 4.6 | 2.2 | 39.0 |
| Net income | 3.2 | 18.7 | 19.2 | −53.7 | −136 |
| Diluted EPS | 0.12 | 1.13 | 0.96 | −1.22 | −1.23 |
| Diluted shares | 94.6 | 32.6 | 35.3 | 44.0 | 111 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 21.9 | 13.6 | 41.2 | 77.5 | 115 |
| Receivables | 27.9 | 37.3 | 40.5 | 47.4 | 0.0 |
| Inventory | 25.8 | 42.4 | 52.5 | 44.8 | 0.0 |
| Current assets | 78.3 | 97.1 | 139 | 174 | 120 |
| Net PP&E | 22.2 | 22.7 | 25.2 | 23.4 | 0.0 |
| Total assets | 131 | 163 | 201 | 474 | 517 |
| Payables | 7.1 | 7.1 | 5.2 | 11.5 | 0.9 |
| Deferred revenue | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Current liabilities | 60.5 | 47.4 | 41.0 | 76.3 | 18.9 |
| Short-term debt | 12.5 | 14.4 | 10.3 | 11.3 | 0.0 |
| Long-term debt | 360 | 344 | 326 | 184 | – |
| Total liabilities | 539 | 455 | 407 | 617 | 274 |
| Shareholders' equity | −1,016 | −892 | −802 | −144 | 243 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 77.8 | 92.8 | 104 | 130 | −22.9 |
| Capital expenditure | 4.7 | 9.1 | 10.9 | 7.4 | 0.0 |
| Free cash flow | 73.0 | 83.7 | 93.4 | 122 | −22.9 |
| Depreciation & amortisation | 10.4 | 8.6 | 8.4 | 9.2 | 1.6 |
| Stock-based compensation | 6.1 | 11.5 | 17.6 | 21.2 | 4.5 |
| Share buybacks | – | – | 0.0 | 0.0 | 12.2 |
| Dividends paid | – | 0.0 | 0.0 | 8.9 | 0.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 41.2% | 3.2% | 7.7% | −85.8% |
| Operating income growth (YoY) | – | 41.1% | 3.6% | −9.6% | −112.8% |
| EPS growth (YoY) | – | 841.7% | −15.0% | −227.1% | – |
| Gross margin | 54.1% | 58.0% | 53.5% | 52.1% | 48.1% |
| Operating margin | 30.4% | 30.4% | 30.5% | 25.6% | −23.0% |
| Net margin | 1.2% | 4.9% | 4.9% | −12.8% | −227.3% |
| Return on equityBlank when equity is negative | – | – | – | – | −55.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 114.9% | 99.4% | 74.4% | 27.1% | −2.8% |
| Free cash flow margin | 27.3% | 22.1% | 23.9% | 29.0% | −38.2% |
| Cash conversion (CFO ÷ net income) | 24.7x | 4.97x | 5.42x | −2.41x | 0.17x |
| Receivable days | 38 | 36 | 38 | 41 | 0 |
| Inventory days | 77 | 97 | 106 | 81 | 0 |
| Payable days | 21 | 16 | 10 | 21 | 11 |
| Interest cover | 6.83x | 5.37x | 4.33x | 5.33x | −8.13x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 351 | 344 | 295 | 118 | – |
| Current ratio | 1.29x | 2.05x | 3.40x | 2.28x | 6.35x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.