Ranpak Q4 net loss widens to $9.5M as revenue rises 6.6%
Ranpak posted a Q4 net loss of $9.5 million, up from $8 million last year, while net revenue grew 6.6% to $111.9 million driven by a 35.3% jump in automated equipment sales. The company forecasts fiscal 2026 net revenue of $415m–$445m and AEBITDA of $83.5m–$95m.
1. Q4 Performance Breakdown
Ranpak’s Q4 2025 results showed a net loss of $9.5 million versus an $8 million loss in Q4 2024. Net revenue increased 6.6% to $111.9 million, with void-fill sales up 7.6% to $52.3 million, wrapping up 11.7% to $11.5 million, automated equipment rising 35.3% to $13.8 million, and cushioning down 4.5% to $34.3 million.
2. Full-Year Results and Balance Sheet
For the full 2025 fiscal year, net revenue climbed 7.1% to $395 million while the annual net loss widened to $38.3 million from $21.5 million. At year-end, Ranpak held $63 million in cash, carried no borrowings on its $50 million revolver, and had $405.9 million outstanding under its first-lien term facility maturing December 2031.
3. Fiscal 2026 Outlook
Ranpak projects 2026 net revenue between $415 million and $445 million, reflecting 5.1%–12.7% growth, and AEBITDA of $83.5 million to $95 million, up 5.4%–19.9%. Management expects continued rapid automation growth, expansion of enterprise relationships in North America, and gradual improvements in North America and EMEA operating conditions.