Ranpak Holdings Corp. reported a net revenue of $206.4 million for the six months ended June 30, 2026, marking a 12.5% increase from $183.5 million in the same period of 2025. The company’s net product revenue rose to $168.2 million, up from $155.4 million, while machine lease revenue also increased to $38.2 million from $28.1 million. Despite the revenue growth, Ranpak recorded a net loss of $18.1 million, slightly improved from a loss of $18.4 million in the prior year. The basic and diluted loss per share remained stable at $(0.21) compared to $(0.22) in the previous year.
In the second quarter of 2026, Ranpak's net revenue reached $105.2 million, a 14.0% increase from $92.3 million in the second quarter of 2025. This growth was driven by a significant rise in automation equipment sales, which surged by 133.8% to $16.6 million, alongside a 9.0% increase in void-fill products. However, cushioning product sales declined by 4.6%. The gross profit for the quarter was $34.5 million, up from $28.9 million, while the loss from operations improved to $(2.4) million from $(9.7) million in the prior year.
Ranpak's operational metrics showed a slight decrease in the installed base of Protective Packaging Solutions (PPS) systems, which totaled 141.7 thousand as of June 30, 2026, down from 145.0 thousand a year earlier. The company continues to focus on geographic expansion, with significant revenue contributions from both North America and Europe/Asia segments. North America generated $88.4 million in revenue, while Europe/Asia contributed $118.0 million, reflecting increases of 4.1% and 19.7%, respectively.
The company’s financial position showed a decrease in cash and cash equivalents, which fell to $43.2 million from $63.0 million at the end of 2025. Total assets decreased to $1.096 billion from $1.125 billion, while total liabilities also declined to $576.8 million from $590.0 million. The company reported a slight increase in long-term debt, totaling $395.8 million, compared to $396.4 million at the end of the previous year.
Looking ahead, Ranpak anticipates continued revenue growth driven by increased demand for automation solutions and ongoing efforts to expand its market presence. However, the company also faces challenges from inflationary pressures, fluctuating commodity prices, and foreign currency exchange risks, which may impact its operating margins. Management remains focused on strategic investments and operational efficiencies to navigate these challenges and enhance profitability.
About Ranpak Holdings Corp.
Ranpak Holdings Corp. provides environmentally sustainable, fiber-based protective packaging solutions for global e-commerce and industrial supply chains. Its core offerings include proprietary paper-based systems for void-fill, cushioning, and wrapping, complemented by automation and machine vision technologies. Serving diverse markets worldwide, Ranpak emphasizes innovation, sustainability, and a broad distributor network to deliver cost-effective, eco-friendly packaging that reduces waste and enhances supply chain efficiency.
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