Ranpak Holdings Corp. SEC 10-Q Report

Ranpak Holdings Corp., a leading provider of environmentally sustainable, systems-based packaging solutions, has released its Form 10-Q report for the third quarter of 2025. The report provides a comprehensive overview of the company's financial and operational performance, reflecting both growth and challenges faced during the period.

Financial Highlights

Net Revenue: Ranpak Holdings Corp. reported net revenue of $283.1 million, an increase from $263.9 million in the same period of 2024. This growth was driven by increases in both product and machine lease revenues.

Gross Profit: The company achieved a gross profit of $94.2 million, a slight decrease from $98.4 million in the prior year. This indicates stable cost management despite the rise in sales.

Loss from Operations: The loss from operations was $(23.4) million, compared to $(14.2) million in 2024. This increase highlights higher operating expenses and depreciation.

Net Loss: Ranpak reported a net loss of $(28.8) million, a significant increase from $(10.7) million in 2024. The primary factors contributing to this were higher interest expenses and foreign currency losses.

Basic and Diluted Loss Per Share: The basic and diluted loss per share was $(0.34), compared to $(0.13) in 2024, reflecting the increased net loss and a slightly higher number of weighted average shares outstanding.

Business Highlights

Revenue Segments: For the three months ended September 30, 2025, Ranpak reported net product revenue of $83.6 million, with North America contributing $37.2 million and Europe/Asia contributing $46.4 million. Machine lease revenue was $16.0 million, with North America contributing $7.5 million and Europe/Asia contributing $8.5 million.

Geographical Performance: The company's two operating segments, North America and Europe/Asia, showed strong performance. For the nine months ended September 30, 2025, North America generated $129.6 million in net revenue, while Europe/Asia generated $153.5 million. The segment profit for the three months ended September 30, 2025, was $11.9 million, with North America contributing $3.0 million and Europe/Asia contributing $8.9 million.

Sales Units: As of September 30, 2025, Ranpak had an installed base of approximately 145.6 thousand PPS systems, including 34.4 thousand cushioning systems, 88.2 thousand void-fill systems, and 23.0 thousand wrapping systems.

Future Outlook: The company anticipates continued pressure on gross margins due to inflationary pressures and rising input costs. Ranpak is focused on achieving cost efficiencies and passing increased costs to customers where possible. Additionally, the company expects to benefit from the One Big Beautiful Bill Act, which includes provisions for bonus depreciation and expensing for research and development costs.

SEC Filing: Ranpak Holdings Corp. [ PACK ] - 10-Q - Oct. 30, 2025