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Ranpak Q1 2025 Earnings Report
Ranpak reported its first quarter 2025 financial results, with net revenue increasing by 6.9% year over year and a net loss of $10.9 million.
Key Takeaways
Ranpak Holdings Corp. reported a net revenue of $91.2 million for the first quarter of 2025, an increase of 6.9% year over year, or 8.8% on a constant currency basis. The company experienced a net loss of $10.9 million, compared to a net loss of $8.1 million in the prior year period. Adjusted EBITDA was $17.3 million, down 9.9% year over year.
Net revenue increased 6.9% year over year to $91.2 million, and 8.8% on a constant currency basis.
The company reported a net loss of $10.9 million for the quarter, compared to a net loss of $8.1 million in the prior year period.
Adjusted EBITDA for the first quarter was $17.3 million, a decrease of 9.9% year over year, or 7.8% on a constant currency basis.
Packaging system placements increased 2.1% year over year, reaching approximately 143.8 thousand machines as of March 31, 2025.
Ranpak
Ranpak
Ranpak Revenue by Segment
Revenue by Segment
Cushioning Revenue
CapyFin.comVoid-Fill Revenue
CapyFin.comWrapping Revenue
CapyFin.comOther Net Revenue
CapyFin.com Forward Guidance
The company is confident in its growth outlook for automation sales and is taking actions to improve its margin profile and adjust its cost structure in the second quarter.
Positive Outlook
- Strong volume growth and increased net revenue for the 7th consecutive quarter.
- Continued strength in North American e-commerce activity, particularly with large enterprise customers transitioning from plastic to paper.
- Enterprise account activity in North America remains strong, with key plastic-to-paper transition and automation projects on track.
- Automation sales momentum is extremely strong, leading to confidence in growth outlook.
- April saw stabilization in Europe and APAC with slight increases in sales and volumes.
Challenges Ahead
- Revenue growth was partially offset by a non-cash reduction due to Amazon warrants.
- Overall performance was impacted by a challenging March in Europe and APAC, leading to decreased volumes in that region for the quarter.
- Adjusted EBITDA declined due to lower volumes in Europe and APAC and higher input costs.
- The reported Adjusted EBITDA figures reflect a 420 bps headwind from the non-cash impact of Amazon warrants.
- Some automation projects were pushed from Q1 to Q2.
Revenue & Expenses
Visualization of income flow from segment revenue to net income