---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-037587"
form_type: "8-K"
ticker: "PACK"
cik: "0001712463"
company_name: "Ranpak Holdings Corp."
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T08:47:50.218591+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Ranpak Q2 revenue down 5.6% to $81.9M; net loss narrows to $2.1M from $11.3M

## Summary
- Net revenue $81.9M, down 5.6% YoY; constant currency net revenue $84.6M, down 7.0%.
- Net loss $2.1M vs $11.3M in prior year; gross margin expanded ~400 bps to 36.9%.
- Adjusted EBITDA $19.0M, up 4.4% YoY on constant currency basis.
- Packaging system placements up 3.1% to ~140,700 machines; cushioning revenue fell 4.2%.
- Cash $53.9M with no revolver borrowings; net leverage ratio 5.7x.

## SEC filing metadata
- accession: 0000950170-23-037587
- form_type: 8-K
- ticker: PACK
- cik: 0001712463
- company_name: Ranpak Holdings Corp.
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1712463/000095017023037587/0000950170-23-037587-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1712463/000095017023037587/pack-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-037587
- JSON: https://secwatch.observer/filing/0000950170-23-037587.json
- Plain text: https://secwatch.observer/filing/0000950170-23-037587.txt

## Key facts
- Earnings Releases
  Ranpak Holdings Corp. reported second quarter ended June 30, 2023 results: revenue $81.9 million, net income Net loss of $2.1 million.
  - Period: second quarter ended June 30, 2023
  - Revenue: $81.9 million
  - Net income: Net loss of $2.1 million
  - Result: reported results
  source text: • Packaging System placement up 3.1% year over year to approximately 140,700 machines at June 30, 2023 • Net revenue for the second quarter decreased 5.6% year over year to $81.9 million and decreased 7.0% year over year on a constant currency basis to $84.6 million • Net loss for the second quarter of $2.1 million compared to net loss of $11.3 million in the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1712463/000095017023037587/0000950170-23-037587-index.htm

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