Group 1 - Crude Value Insights provides an investment service and community focused on oil and natural gas, emphasizing cash flow and companies that generate it, which leads to value and growth prospects with real potential [1] - Subscribers have access to a model account with over 50 stocks, in-depth cash flow analyses of exploration and production (E&P) firms, and live chat discussions about the sector [1] Group 2 - A two-week free trial is available for new subscribers, offering an opportunity to explore the oil and gas sector [2]

Group 1 - Crude Value Insights provides an investment service and community focused on the oil and natural gas sectors, emphasizing cash flow and companies that generate it [1] - The service offers subscribers access to a model account with over 50 stocks, detailed cash flow analyses of exploration and production (E&P) firms, and live chat discussions about the sector [1] Group 2 - A two-week free trial is available for new subscribers, promoting engagement with the oil and gas market [2]

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Financial Performance - In Q3 2025, net revenue increased to $99.6 million, up 8.0% from $92.2 million in Q3 2024, with a constant currency increase of 4.4%[141] - Cost of sales rose to $65.2 million, reflecting a 12.8% increase compared to $57.8 million in the same quarter last year[141] - Gross profit remained stable at $34.4 million, with no percentage change year-over-year[141] - Selling, general and administrative expenses increased to $29.6 million, a rise of 2.8% from $28.8 million[141] - The company reported a net loss of $10.4 million in Q3 2025, compared to a net loss of $8.1 million in Q3 2024, representing a 28.4% increase in loss[141] - EBITDA for Q3 2025 was $11.9 million, down 5.6% from $12.6 million in Q3 2024[141] - AEBITDA increased to $21.4 million, up 8.1% from $19.8 million year-over-year[141] - Net revenue for Q3 2025 was $99.6 million, an increase of $7.4 million or 8.0% from $92.2 million in Q3 2024, with a constant currency increase of 4.4%[143] - North America net revenue increased by 10.9% to $44.7 million, driven by void-fill and automation sales, despite a decrease in cushioning sales[154] - Europe/Asia net revenue rose by 5.8% to $54.9 million, attributed to increases in automation and wrapping sales, partially offset by a decline in void-fill sales[155] Cost and Expenses - Cost of sales for Q3 2025 rose to $65.2 million, a 12.8% increase from $57.8 million in Q3 2024, driven by a 9.5% rise in production costs[145] - SG&A expenses increased by 2.8% to $29.6 million, primarily due to a $2.1 million rise in professional services fees[146] - Cost of sales for the nine months ended September 30, 2025 totaled $188.9 million, an increase of $23.4 million or 14.1% compared to $165.5 million in 2024[163] - SG&A expenses increased by $3.3 million or 3.9% to $87.3 million for the nine months ended September 30, 2025[164] - Depreciation and amortization expense rose by $2.1 million or 8.4% to $27.0 million for the nine months ended September 30, 2025[165] - Interest expense increased by $4.9 million or 23.6% to $25.7 million for the nine months ended September 30, 2025[167] Net Loss and EBITDA - EBITDA for the nine months ended September 30, 2025 was $37.2 million, a decrease of $20.1 million or 35.1% compared to $57.3 million in 2024[172] - Net loss for the nine months ended September 30, 2025 was $28.8 million, an increase of $18.1 million or 169.2% compared to a net loss of $10.7 million in 2024[161] - North America segment EBITDA fell by 63.9% to $3.0 million, primarily due to a non-recurring gain in Q3 2024 and increased professional services fees[157] - Europe/Asia segment EBITDA increased by 107.0% to $8.9 million, driven by higher net revenue[158] - Segment EBITDA for North America was $11.1 million for the nine months ended September 30, 2025, down $6.3 million or 36.2% from $17.4 million in 2024[176] - Segment EBITDA for Europe/Asia decreased to $26.1 million for the nine months ended September 30, 2025, a decline of $13.8 million or 34.6% from $39.9 million in 2024[177] Revenue Drivers - The increase in net revenue was driven by a 5.4% increase in sales volume of paper consumable products and a 2.2% increase in automated equipment sales[162] - Automation revenue surged by 63.0% to $11.9 million, while void-fill and wrapping revenues increased by 4.8% and 9.0%, respectively[143] - Over a third of net revenue in 2024 was attributed to e-commerce sectors, indicating a seasonal sales pattern with peak revenue in Q4[133] Tax and Foreign Currency - Income tax benefit for Q3 2025 was $4.2 million, with an effective tax rate of 28.1%, up from $2.5 million and 23.2% in Q3 2024[152] - Foreign currency gain for the nine months ended September 30, 2025 was $5.0 million, an increase of $3.9 million from $1.1 million in 2024[168] - The company experienced a foreign currency loss of $5.0 million for the nine months ended September 30, 2025, compared to a loss of $1.1 million in 2024, marking a significant increase of 354.5%[181] Cash Flow and Liquidity - Cash and cash equivalents as of September 30, 2025, were $49.9 million, which, along with cash flows from operations, is expected to cover current liquidity needs[182] - The company reported a net cash provided by operating activities of $3.6 million for the nine months ended September 30, 2025, a significant decrease from $34.9 million in the same period of 2024, primarily due to a non-recurring patent litigation settlement[192] - Net cash used in investing activities increased to $27.6 million in the nine months ended September 30, 2025, compared to $24.7 million in 2024, reflecting investments in production equipment and machinery[193] - The company experienced a net cash used in financing activities of $5.3 million for the nine months ended September 30, 2025, up from $2.3 million in 2024, due to principal payments on term loans and other financing arrangements[194] - The company had no outstanding amounts under its $50.0 million revolving credit facility as of September 30, 2025, indicating strong liquidity management[186] - The company remains in compliance with all debt covenants as of September 30, 2025, ensuring financial stability[186] Capital Expenditures and Inventory - The company anticipates an increase in capital expenditures, primarily related to production and maintenance of PPS systems at end-user facilities[183] - The company is evaluating its inventory requirements and adjusting according to volume forecasts, which may impact future capital requirements[185] - The company is evaluating alternative suppliers to mitigate the impact of tariffs on capital expenditures related to equipment sourced from Asia[132] Adjustments and Impairments - Adjustments related to M&A, restructuring, and severance costs increased to $11.6 million in 2025 from $5.6 million in 2024, reflecting a rise of 107.1%[181] - The company recorded a non-cash impairment loss of $0.2 million in 2025, down from $0.9 million in 2024, indicating a decrease of 77.8%[181] Debt and Financing - As of September 30, 2025, the company had $412.0 million in total debt, a slight decrease from $415.7 million as of December 31, 2024, with short-term debt remaining relatively stable at $5.9 million[186] - The Term Facility matures in December 2031, with an interest rate of 8.80% as of September 30, 2025, reflecting the company's borrowing costs[187] - The company had $5.9 million committed to outstanding letters of credit, leaving a net availability of $44.1 million under the Revolving Facility as of September 30, 2025[188] - The company’s cash and cash equivalents decreased to $49.9 million at the end of the period from $76.1 million at the beginning, indicating a cash outflow trend[191]

Financial Data and Key Metrics Changes - Consolidated net revenue increased by 4.4% year-over-year on a constant currency basis, with a 5.3% increase excluding the non-cash impact of warrants [10][20] - Gross profit declined by 3.8% on a constant currency basis, but increased by 3.2% due to higher sales and improved margins in both North America and Europe [21] - Adjusted EBITDA increased by 3.5% for the quarter or 7.6% excluding non-cash foreign impact [18][21] Business Line Data and Key Metrics Changes - Automation revenue increased by 56% on a constant currency basis, with expectations to achieve full-year automation revenue of $40 to $45 million [11][18] - North America saw a 10.9% increase in sales, driven by large e-commerce accounts and a 140% increase in automation revenue [12][20] - Cushioning was the only area in North America that experienced a decline year-over-year, while wrapping showed solid contributions [13] Market Data and Key Metrics Changes - In Europe and Asia-Pacific, combined revenue decreased by 0.6% on a constant currency basis, driven by 2.5% volume headwinds [20] - North America continued to show strong volume growth, while Europe faced a more challenging operating environment [11][16] - Asia-Pacific production is ramping up, but destocking activity has offset growth this year [17] Company Strategy and Development Direction - The company entered into a strategic partnership with Walmart, potentially generating up to $700 million in spend over 10 years [5][6] - Focus on expanding PPS relationships beyond void fill to maximize Walmart's warrant vesting [15] - Plans to enhance margin profiles and drive growth through automation and innovative product offerings [19][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in automation growth and the potential for Walmart to become a significant customer [10][39] - The outlook for North America remains strong, while Europe is expected to stabilize and improve over time [16][29] - The company aims to achieve $800 million in revenue organically within the next five years, with automation contributing at least 15% [30][41] Other Important Information - The company expects to end the year with approximately $65 to $70 million in cash, down from previous expectations due to lower sales in Europe [24][22] - Capital expenditures for the quarter were $7.8 million, with a focus on minimizing impacts from evolving tariff landscapes [25][22] Q&A Session Summary Question: Clarification on automation and regional performance - Management confirmed strong automation performance globally, with North America showing robust volumes while Europe and Asia-Pacific are inconsistent [34] Question: Gross margin recovery and future expectations - Management indicated that there is still room for improvement in gross margins, with ongoing cost initiatives expected to yield further benefits [36] Question: Walmart partnership ramp-up expectations - Management expects a gradual ramp-up in contributions from the Walmart partnership, with significant growth anticipated in 2026 and beyond [38][39] Question: Long-term revenue and EBITDA margin targets - Management confirmed a target of $800 million in revenue over the next five years, with a goal of achieving over 25% EBITDA margin [41] Question: Volume expectations for Q4 - Management anticipates consistent volumes in North America, while Europe and Asia-Pacific may see slight declines year-over-year [46] Question: Cash flow and CapEx guidance - Management expects to generate $15 to $20 million in free cash flow next year, with CapEx projected at around $35 million [54][55]

Financial Performance - Net revenue increased by 80% compared to the prior year, or 44% on a constant currency basis[15] - Global sales of automation equipment increased by 630% compared to the prior year, or 562% on a constant currency basis[15] - Adjusted EBITDA increased by 81% (35% on a constant currency basis), including a 400 bps non-cash headwind for the provision of warrants in revenue ($08 million)[15] - Gross margin decreased by 28% year-over-year to 345% (344% on a constant currency basis) due to increased production costs and product mix[15] - Year-to-date net revenue increased by 56% on a constant currency basis[29] - Year-to-date Adjusted EBITDA decreased by 78% on a constant currency basis[29] Regional Performance - North America revenue increased by 109% due to increased volumes from e-commerce activity among large enterprise accounts[15] - EMEA/APAC revenue increased by 58% (decreased 06% on a constant currency basis) driven by increased automation equipment sales and stronger Euro to USD exchange rates[15] - Volumes in Europe/APAC were down by 25% due to a challenging environment and uncertainty from tariffs and de-stocking in APAC[17] Strategic Agreements - Agreement with Walmart is anticipated to be transformative to Automation and implies, based on expectations and current paper pricing, potential spend of $700 million over 10 years, to achieve full vesting[22] - Potential spend for maximum vesting with Amazon is $400 million excluding the cost of paper related to pre-existing NOAM business lines[32]

Exhibit 99.1 Ranpak Holdings Corp. Reports Third Quarter 2025 Financial Results CONCORD TOWNSHIP, Ohio, October 30, 2025 – Ranpak Holdings Corp. (NYSE: PACK) ("Ranpak" or "the Company"), a leading provider of environmentally sustainable, systems-based, product protection and end-of-line automation solutions for e-commerce and industrial supply chains, today reported its third quarter 2025 financial results. Omar Asali, Chairman and Chief Executive Officer, commented, "Our third quarter was a major stepping ...

Market Overview - The U.S. equity market experienced a significant recovery in Q2 2025, rising 23% from its low to end the quarter at a record high [1] - U.S. large-cap stocks gained 11.1% during the quarter, with growth stocks outperforming value stocks [1] - The Meridian Contrarian Fund achieved a net return of 16.42% in Q2 2025, surpassing the Russell 2500 Index's return of 8.59% and the Russell 2500 Value Index's return of 7.29% [1] Company Focus: Ranpak Holdings Corp. (NYSE:PACK) - Ranpak Holdings Corp. specializes in paper-based protective packaging solutions, catering to e-commerce and industrial supply chains [2][3] - The stock of Ranpak Holdings Corp. saw a one-month return of -3.03% and a 52-week decline of 20.37%, closing at $5.12 per share with a market capitalization of $431.953 million on September 25, 2025 [2] - The company is recognized for its environmentally friendly products, which are more sustainable compared to traditional packaging materials [3] Investment Insights - Despite recent stock declines due to higher input and logistics costs, the underlying demand for Ranpak's products remains strong [3] - The company is expected to recover margins and expand due to ongoing automation initiatives and a secular shift away from plastics towards paper [3] - Ranpak Holdings Corp. was held by 21 hedge fund portfolios at the end of Q2 2025, a decrease from 23 in the previous quarter, indicating a potential shift in investor interest [4]

Core Viewpoint - Ranpak Holdings Corp (PACK) has shown a significant price increase of 52.2% over the past four weeks, with a mean price target of $7.17 indicating a potential upside of 35.8% from the current trading price of $5.28 [1] Price Targets and Analyst Estimates - The mean estimate consists of three short-term price targets with a standard deviation of $2.57, where the lowest estimate is $5.00 (5.3% decline) and the highest is $10.00 (89.4% increase) [2] - A low standard deviation among price targets suggests a strong agreement among analysts regarding the stock's price movement direction [9] Earnings Estimates and Analyst Sentiment - There is increasing optimism among analysts about PACK's earnings prospects, as indicated by a positive trend in earnings estimate revisions, which correlates with potential stock price increases [11] - The Zacks Consensus Estimate for the current year has risen by 15.8% over the past month, with no negative revisions [12] - PACK holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] Caution on Price Targets - While price targets are often sought after, they can mislead investors, and reliance solely on them may not yield favorable returns [3][10] - Analysts may set overly optimistic price targets due to business incentives, which can inflate expectations [8]

Group 1: Momentum Investing Overview - Momentum investing contrasts with the traditional "buy low and sell high" strategy, focusing instead on "buying high and selling higher" to capitalize on fast-moving stocks [1] - Identifying the right entry point for trending stocks can be challenging, as they may lose momentum if future growth does not justify their high valuations [1] Group 2: Investment Strategy - Investing in bargain stocks that have recently shown price momentum may be a safer approach [2] - The Zacks Momentum Style Score is useful for identifying strong momentum stocks, while the 'Fast-Paced Momentum at a Bargain' screen helps find attractively priced fast-moving stocks [2] Group 3: Ranpak Holdings Corp (PACK) Analysis - Ranpak Holdings Corp (PACK) has shown a price increase of 16.3% over the past four weeks, indicating growing investor interest [3] - Over the past 12 weeks, PACK's stock gained 34.8%, demonstrating its ability to deliver positive returns over a longer timeframe [4] - PACK has a beta of 2.7, suggesting it moves 170% higher than the market in either direction, indicating fast-paced momentum [4] Group 4: Performance Metrics - PACK has a Momentum Score of A, suggesting it is an opportune time to invest in the stock [5] - The stock has a Zacks Rank 2 (Buy) due to upward trends in earnings estimate revisions, which attract more investor interest [6] - Currently, PACK is trading at a Price-to-Sales ratio of 0.99, indicating it is reasonably valued at 99 cents for each dollar of sales [6] Group 5: Additional Opportunities - Besides PACK, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, presenting further investment opportunities [7] - Zacks offers over 45 Premium Screens tailored to different investing styles, which can help identify potential winning stocks [8]