Financial Performance - Net revenue for Q2 2024 increased by 5.5% year over year to $86.4 million, and by 5.9% on a constant currency basis to $89.6 million[1][5] - Net income for Q2 2024 was $5.5 million, compared to a net loss of $2.1 million in the prior year period[1][3] - Constant Currency Adjusted EBITDA (AEBITDA) for Q2 2024 was $20.4 million, up 7.4% year over year[1][3] - Year-to-date net revenue increased by 5.3%, with a net loss of $2.6 million compared to a net loss of $14.5 million for the prior year period[7] - Net revenue for the six months ended June 30, 2024, was $171.7 million, compared to $163.1 million for the same period in 2023, reflecting a 5.6% growth[15] - Net income for Q2 2024 was $5.5 million, compared to a net loss of $2.1 million in Q2 2023, marking a significant turnaround[15] - For the six months ended June 30, 2024, net revenue was $171.7 million, up 5.3% from $163.1 million in the same period of 2023[24] - The company reported a net loss of $2.6 million for the first half of 2024, which improved to a loss of $1.5 million when adjusted for constant currency[28] Revenue Breakdown - Net revenue in North America for Q2 2024 totaled $37.7 million, a 17.1% increase from $32.2 million in Q2 2023[6] - Net revenue in Europe/Asia for Q2 2024 was $48.7 million, a decrease of 2.0% from $49.7 million in Q2 2023[6] - Paper revenue for Q2 2024 was $67.5 million, up from $63.3 million in Q2 2023, representing a 3.3% increase[15] Profitability Metrics - Gross profit grew by 5.0%, resulting in a gross margin of 36.7%[2] - Gross profit for Q2 2024 was $31.7 million, an increase from $30.2 million in Q2 2023, indicating a 5.0% rise[15] - Gross profit for the first half of 2024 was $64.0 million, a 10.9% increase from $57.7 million in the first half of 2023[24] - EBITDA for Q2 2024 was reported at $29.3 million, marking a 40.9% increase from $20.8 million in Q2 2023[23] Cash and Assets - Cash balance at the end of Q2 2024 was $65.1 million, with no borrowings on the $45 million Revolving Credit Facility[7] - Total current assets increased to $147.5 million as of June 30, 2024, up from $124.9 million at the end of 2023, a growth of 18.0%[16] - Cash and cash equivalents increased to $65.1 million as of June 30, 2024, compared to $62.0 million at the end of 2023, a growth of 5.0%[16] - Total cash and cash equivalents at the end of the period rose to $65.1 million, up from $53.9 million a year earlier[17] Expenses and Liabilities - Selling, general and administrative expenses surged to $27.3 million, a significant increase of 67.5% from $16.3 million in Q2 2023[23] - Total liabilities rose to $553.8 million as of June 30, 2024, compared to $550.7 million at the end of 2023, a slight increase of 0.6%[16] - The accumulated deficit as of June 30, 2024, was $(126.4) million, compared to $(123.8) million at the end of 2023[16] Strategic Initiatives - The company has incurred $1.5 million in M&A, restructuring, and severance costs, indicating ongoing strategic initiatives[28] - Stock-based compensation expense was $2.8 million, a decrease from $6.7 million in the prior year[17] - Stock-based compensation expense for the first half of 2024 was $2.9 million, highlighting the company's investment in talent retention[28] Foreign Currency Impact - The company experienced a significant foreign currency loss of $17.9 million in the first half of 2024, compared to a loss of $0.7 million in the same period of 2023[24] - The company uses constant currency measures to evaluate performance, applying an exchange rate of 1 Euro to 1.15 USD for its Europe/Asia financial data[18]

Core Viewpoint - Ranpak Holdings has shown improvements in revenue and profitability metrics, but its shares are considered relatively expensive compared to peers, leading to a downgrade to a 'hold' rating [6][15][19] Financial Performance - In 2023, Ranpak Holdings reported revenue of $336.3 million, a 3% increase from $326.5 million in 2022 [7] - The company's net loss improved from $41.4 million in 2022 to $27.1 million in 2023, while EBITDA grew from $62.5 million to $73.4 million [11] - For the first quarter of 2024, revenue was $85.3 million, a 5% increase over $81.2 million in the same period of 2023 [17] Product Offerings - Ranpak Holdings provides various packaging systems, including cushioning protective systems (PadPak), void-fill protective systems (FillPak), and wrapping protective systems [7][11] - The PadPak brand accounted for $145.8 million, or 43.4% of total revenue in 2023, showing growth from $140.3 million in 2022 [7] - The company has launched new eco-friendly products, including Geami MV and naturemailer, to meet environmental concerns and expand revenue opportunities [19] Market Position - Ranpak Holdings has a price to operating cash flow ratio of 21.2 and an EV/EBITDA ratio of 13.4, making it the most expensive among its peers [5][13] - Analysts forecast a revenue increase for the second quarter of 2024, with expected sales of $87.7 million, a 7.1% year-over-year increase [13]

The world's largest e-commerce company already sources some of its paper fillers from this little-known company. In fact, there is. Ranpak Holdings (PACK -4.78%) is a company that few investors have ever heard of. But it could find itself as a sudden beneficiary of Amazon's abrupt move. According to certain investor presentations, Amazon is already a customer of Ranpak, although it's unclear how big a customer it is. Craig-Hallum analyst Greg Palm says that Amazon is Ranpak's largest direct customer, accord ...

Lion Electric announces successful final certification of its LionBattery HD battery pack. (CNW Group/The Lion Electric Co.) Lion Electric announces successful final certification of its LionBattery HD battery pack. (CNW Group/The Lion Electric Co.) Lion, in collaboration with third-party testing partners, conducted stringent testing to meet the certification requirements. The LionBattery HD pack is now certified to meet the most rigorous criteria and safety regulations in the automotive industry. Lion had ...

Ranpak Holdings Corp. (NYSE:PACK) Q1 2024 Earnings Conference Call May 2, 2024 8:30 AM ET Company Participants Sara Horvath - General Counsel Omar Asali - Chairman & Chief Executive Officer Bill Drew - Chief Financial Officer Conference Call Participants Danny Eggerichs - Craig-Hallum Capital Group Ghansham Panjabi - Baird Adam Samuelson - Goldman Sachs Operator Welcome to the Ranpak Holdings First Quarter 2024 Earnings Call. My name is Benjamin and I'll be your operator for today's call. [Operator Instruct ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. Commission File Number 001-38348 RANPAK HOLDINGS CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification Number) FORM 10-Q (Mark One) ☒ QUARTER ...

Omar Asali, Chairman and Chief Executive Officer, commented, "We are pleased to build off the momentum of the second half of 2023 by beginning 2024 with continued volume growth and profitability improvement as evidenced by strong growth in Gross Profit and Adjusted EBITDA on a constant currency basis. Sales for the quarter increased 5.0% year over year, or 4.4% on a constant currency basis, as volumes increased 5.3% and Automation grew 50%+. In addition to seeing volumes improve vs the prior year for the th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________. | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | Class A Common Stock, par v ...

Ranpak Holdings Corp. (NYSE:PACK) Q4 2023 Earnings Conference Call March 11, 2024 4:30 PM ET Company Participants Sara Horvath - General Counsel Omar Asali - Chairman and Chief Executive Officer Bill Drew - Chief Financial Officer Conference Call Participants Ghansham Panjabi - Baird Adam Samuelson - Goldman Sachs Danny Eggerichs - Craig-Hallum Capital Group Operator Ladies and gentlemen, thank you for standing by. My name is Desiree and I will be your conference operator today. At this time, I would like t ...

Exhibit 99.1 Ranpak Holdings Corp. Reports Fourth Quarter 2023 Financial Results ___________________ • Packaging System placement up 1.5% year over year to approximately 141,200 machines at December 31, 2023 • Net revenue for the fourth quarter increased 13.9% year over year to $90.4 million and increased 10.3% year over year on a constant currency basis to $93.9 million • Net loss for the fourth quarter of $9.3 million compared to net loss of $7.3 million for the prior year period. • Constant Currency Adju ...