Ranpak Q4 2023 Earnings Report
Key Takeaways
Ranpak's Q4 2023 net revenue increased by 13.9% year-over-year to $90.4 million, or 10.3% on a constant currency basis to $93.9 million. The company experienced a net loss of $9.3 million, compared to a net loss of $7.3 million in the prior year period. Constant currency Adjusted EBITDA increased by 89.1% to $24.4 million.
Packaging systems placement increased 1.5% year-over-year to approximately 141,200 machines.
Net revenue increased 13.9% year-over-year.
Net loss was $9.3 million compared to $7.3 million in the prior year.
Constant currency Adjusted EBITDA increased 89.1% year-over-year.
Ranpak
Ranpak
Ranpak Revenue by Segment
Ranpak Revenue by Geographic Location
Forward Guidance
Ranpak expects net revenue growth in the area of 6% – 12% and AEBITDA growth of 5% – 16% on a constant currency basis for 2024, resulting in a range of $370 – $390 million in constant currency net revenue and $80 – $89 million for AEBITDA on a constant currency basis.
Positive Outlook
- Continuing return to a more normal operating environment.
- Normalization of e-Commerce buying patterns.
- Strategic account activity ramping up.
- Expected strong top-line growth.
- Steady margin profile consistent with the second half of 2023.
Challenges Ahead
- Somewhat uneven return to a more normal operating environment.
- Slower industrial activity.
- Uncertainty in forecasting currency impact.
- Inability to forecast with reasonable certainty several items necessary to calculate comparable GAAP measures.
- These items are uncertain, depend on various factors, and could be material to our results computed in accordance with GAAP.
Revenue & Expenses
Visualization of income flow from segment revenue to net income