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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), a leader in metal payment cards and security solutions, won three 2024 Élan Awards from the International Card Manufacturers Association (ICMA). The awards, which celebrate excellence in the card industry, were given for Best Metal Cards, Environmentally-Friendly Cards, and Best Secure Payment Cards. Notable mentions include the BMW i Precision Card, which features 65% recycled stainless steel, and the Rogers Bank card, known for its carbon-neutral production process. The press release highlights CompoSecure's commitment to innovation, sustainability, and superior design.
Steve Feder, General Counsel and Corporate Secretary at CompoSecure (Nasdaq: CMPO), has been honored in the NJBIZ Leaders in Law awards for 2024. The ceremony took place on May 14, 2024, at The Palace at Somerset Park. This accolade recognizes Feder's extensive legal expertise and his vital role in CompoSecure's operations, including its transition to a publicly traded company. Feder is also noted for his community contributions, such as leading the CompoSecure Bike Team for charity events. The NJBIZ Leaders in Law awards highlight legal professionals for their professional achievements and community service.
CompoSecure (Nasdaq: CMPO), a leader in metal payment cards and security solutions, announced that Chief Product and Innovation Officer, Dr. Adam Lowe, will speak at Seamless Middle East 2024 in Dubai. Lowe will address security challenges and innovations, highlighting the Arculus Authenticate® and Cold Storage technology. His presentations on May 14 and 15 will cover fraud prevention, the importance of secure yet user-friendly technology, and the shift from traditional passwords to hardware passkeys. Lowe aims to demonstrate how Arculus can improve customer experience and protect digital assets, with hands-on demonstrations at Booth H7-F20.
CompoSecure, Inc. announced a partnership with Robinhood Markets, Inc. and Fiserv to create the premier Robinhood Gold Card, a leading payment card program with unique features and rewards. The collaboration aimed to deliver a card that combined starter card capabilities with premium design, family-focused digital features, and bleeding-edge functionalities. CompoSecure successfully met the challenge by producing a metal veneer card with a gold color coating and mechanical engraving, as well as a -edition version made of 10 karat solid gold, weighing 36 grams. The partnership showcases CompoSecure's ability to innovate and deliver exceptional products in the payment card industry.
CompoSecure, Inc. announced the pricing of a secondary offering of 7,000,000 shares of its Class A common stock by certain Selling Shareholders at $6.50 per share, totaling $45,500,000 million in gross proceeds. The Company will not receive any proceeds from the sale. The Offering is expected to close on May 13, 2024, with J.P. Morgan, BofA Securities, and TD Cowen as the joint book-running managers.
CompoSecure, Inc., a leader in metal payment cards, security, and authentication solutions, announced the launch of a secondary offering of 7,000,000 shares of Class A common stock by certain selling shareholders. The underwritten public offering includes a grant of an additional 1,050,000 shares to underwriters. The Company will not receive any proceeds from the sale of shares. J.P. Morgan, BofA Securities, and TD Cowen are the joint book-running managers for the offering. The Offering is made under an existing resale registration statement and preliminary prospectus supplement.
CompoSecure, Inc. (Nasdaq: CMPO) reported record first-quarter 2024 financial results, with Q1 net sales up 9% to $104.0 million, net income up 59% to $17.1 million, and adjusted EBITDA up 6% to $37.8 million. The company declared a special cash dividend of $0.30 per share, reflecting a strong start in 2024 driven by domestic business momentum and high-profile customer programs. CompoSecure ended the quarter with a cash balance of $55 million, doubled from a year ago. Operational highlights include strong domestic growth, new card programs, and product enhancements. The company's liquidity and capital structure remained strong, with $55.1 million in cash and cash equivalents and a secured debt leverage ratio of 1.34x at March 31, 2024. Overall, CompoSecure's financial outlook for 2024 remains positive, reiterating full-year guidance for net sales between $408-$428 million and adjusted EBITDA between $147-$157 million.
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