Resolute Holdings — Third Quarter 2026 Earnings Summary

Financial Performance:

• Reported GAAP net loss attributable to common stockholders of $5.8 million for the quarter ended September 30, 2026, compared to a loss of $0.2 million in the prior year period.
• GAAP earnings per share (diluted) were $(0.74) for the quarter, compared to $(0.03) in the prior year.
• Reported Non-GAAP Fee-Related Earnings of $5.5 million for the quarter, an increase from $1.1 million in the prior year.
• Non-GAAP Fee-Related Earnings per share (diluted) were $0.69 for the quarter, compared to $0.13 in the prior year.
• Management fees for the quarter were $13.8 million, up from $3.7 million in the prior year.
• Consolidated net sales for the quarter were $509.6 million, compared to $120.9 million in the prior year.
• Consolidated operating expenses for the quarter were $90.4 million, compared to $29.9 million in the prior year.
• Consolidated income from operations for the quarter was $118.5 million, compared to $41.4 million in the prior year.
• Consolidated net income for the nine months ended September 30, 2026, was $31.1 million, compared to $100.3 million in the prior year period.
• Consolidated net income attributable to common stockholders for the nine months ended September 30, 2026, was $43.3 million, compared to a loss of $4.2 million in the prior year period.
• Consolidated Fee-Related Earnings for the nine months ended September 30, 2026, were $17.0 million, compared to $1.2 million in the prior year period.
• Consolidated Fee-Related Earnings per share for the nine months ended September 30, 2026, were $2.08, compared to $0.14 in the prior year period.
• Total assets as of September 30, 2026, were $6,192.2 million, compared to $332.7 million as of December 31, 2025.
• Total liabilities as of September 30, 2026, were $3,072.4 million, compared to $255.0 million as of December 31, 2025.
• Cash and cash equivalents were $175.7 million as of September 30, 2026, compared to $161.4 million as of December 31, 2025.
• Long-term debt, net of deferred financing costs, was $2,124.1 million as of September 30, 2026, compared to $169.1 million as of December 31, 2025.
• Deferred revenue was $201.1 million as of September 30, 2026, compared to $0 as of December 31, 2025.
• Net cash provided by operating activities for the nine months ended September 30, 2026, was $79.7 million, compared to $126.7 million in the prior year period.
• Net cash used in investing activities for the nine months ended September 30, 2026, was $660.2 million, compared to $53.1 million in the prior year period, driven by $665.2 million in cash used for acquisitions.
• Net cash provided by financing activities for the nine months ended September 30, 2026, was $591.0 million, compared to $47.0 million used in the prior year period.

Guidance and Future Outlook:

• No specific forward guidance, future growth targets, or long-term goals were provided in the press release.
• The press release notes that forward-looking statements are subject to risks including timing and amount of management fees, implementation of the Resolute Operating System, and market developments, but does not quantify future expectations.

Business Segments and Product Lines:

• Resolute Holdings operates as an alternative asset management platform providing management services to GPGI, Inc. subsidiaries.
• The company's business model consists of recurring, long-duration management fees and a relatively fixed expense base.
• Management fees increased due to the execution of a management agreement with Husky Holdings LLC in January 2026 and organic growth in fees from the CompoSecure management agreement.
• The company consolidated the financial results of GPGI Holdings (including Husky Holdings) following a spin-off from GPGI and the execution of a management agreement with GPGI Holdings, L.L.C.
• Segment financial information distinguishes between Resolute Holdings (management fees) and GPGI Holdings (product sales), with intercompany eliminations.

Market and Competitive Landscape:

• No specific market trends, competition details, or market share data were provided in the press release.
• The press release mentions the company competes within its industry as a risk factor but provides no specific competitive analysis.

Risks and Challenges:

• Risks include fluctuations in the timing and amount of management fees payable.
• Risks associated with the implementation of the Resolute Operating System.
• Risks related to unexpected market and macroeconomic developments.
• Risks regarding the ability to grow and manage growth profitably and attract/retain key employees.
• Risks associated with legal proceedings, accounting, future exchange and interest rates, and taxation.

Management Commentary and Tone:

• Management stated that the increase in Non-GAAP profitability was driven by the higher fee stream from the Husky Holdings agreement and organic growth from CompoSecure.
• Management noted that the current GAAP presentation, which consolidates GPGI Holdings, does not represent the underlying economics of the standalone business model.
• The press release highlights the "Resolute Operating System" as a differentiated approach to long-term value creation.
• No direct quotes from management were included in the text.

Other Key Points:

• The company executed a management agreement with Husky Holdings LLC in January 2026.
• The company executed a management agreement with GPGI Holdings, L.L.C., resulting in the consolidation of GPGI Holdings' financial results.
• Share repurchases of $88.9 million were recorded in the nine-month period ended September 30, 2026.
• Equity contribution from GPGI for acquisition using GPGI Class A Common Stock was $1,143.0 million in the nine-month period ended September 30, 2026.
• The company reported a loss on debt extinguishment of $10.6 million for the nine months ended September 30, 2026.
• The company reported a fair value inventory step-up of $23.6 million for the nine months ended September 30, 2026.
• The company reported a non-cash interest carryforward to GPGI of $5.3 million for the nine months ended September 30, 2026.
• The company reported a loss on debt extinguishment of $29.9 million as an adjustment to reconcile net income to net cash provided by operating activities for the nine months ended September 30, 2026.
• The company reported a deferred tax asset of $26.4 million as of September 30, 2026.
• The company reported goodwill of $2,919.7 million as of September 30, 2026.
• The company reported intangible assets, net, of $1,698.9 million as of September 30, 2026.
• The company reported a non-controlling interest of $3,158.2 million as of September 30, 2026.
• The company reported total stockholders' equity (deficit) of $(38.4) million as of September 30, 2026.
• The company reported 7,819,595 shares of common stock issued and outstanding as of September 30, 2026.