---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-017471"
form_type: "8-K"
ticker: "PACK"
cik: "0001712463"
company_name: "Ranpak Holdings Corp."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T22:26:51.720637+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Ranpak Q1 net loss narrows to $12.4M; constant currency revenue up 1.1% but AEBITDA down 20.9%

## Summary
- Net revenue $81.2M, down 1.6% YoY; constant currency net revenue $84.8M, up 1.1%.
- Net loss $12.4M vs $14.1M prior year; constant currency AEBITDA $15.1M, down 20.9%.
- Packaging system placements up 3.8% to ~139,600 machines.
- Cash $58.6M, no revolver borrowings; net leverage 5.7x.
- Cautious outlook: slowing industrial activity and banking stress; pulling back on planned spend.

## SEC filing metadata
- accession: 0000950170-23-017471
- form_type: 8-K
- ticker: PACK
- cik: 0001712463
- company_name: Ranpak Holdings Corp.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1712463/000095017023017471/0000950170-23-017471-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1712463/000095017023017471/pack-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-017471
- JSON: https://secwatch.observer/filing/0000950170-23-017471.json
- Plain text: https://secwatch.observer/filing/0000950170-23-017471.txt

## Key facts
- Earnings Releases
  Ranpak Holdings Corp. reported first quarter ended March 31, 2023 results: revenue $81.2 million, net income $12.4 million.
  - Period: first quarter ended March 31, 2023
  - Revenue: $81.2 million
  - Net income: $12.4 million
  - Result: reported results
  source text: First quarter net revenue decreased 1.6% year over year to $81.2 million and increased 1.1% year over year on a constant currency basis to $84.8 million • First quarter net loss of $12.4 million compared to net loss of $14.1 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1712463/000095017023017471/0000950170-23-017471-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.