Ranpak (PACK) Q4 2025 Earnings Call Transcript

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Thursday, Mar. 5, 2026 astatine 8:30 a.m. ET

• Chairman & CEO — Omar Asali

• Chief Financial Officer — Bill Drew

• Director of Investor Relations — Sara [surname not provided]

For fiscal accusation that is presented connected a non-GAAP basis, we person included reconciliations to the comparable GAAP information. Please notation to the array and descent presumption accompanying today’s net release. Lastly, we volition beryllium filing our 10-K with the SEC for the play ending December 31, 2025. The 10-K volition beryllium disposable done the SEC oregon connected the capitalist relations conception of our website. With maine today, I person Omar Asali, our Chairman and CEO, and Bill Drew, our CFO. Omar volition summarize our 4th fourth results and contented our outlook for 2026. Bill volition supply further item connected the fiscal results earlier we unfastened up the telephone for questions.

With that, I volition crook the telephone implicit to Omar.

Omar Asali: Thank you, Sara, and bully morning, everyone. Thank you for joining america today. We finished 2025 connected a affirmative enactment arsenic each geographies experienced measurement maturation and automation finished the twelvemonth with a batch of momentum, positioning america good for 2026. Large endeavor accounts successful North America proceed to beryllium a cardinal operator of performance, some from top-line and borderline perspective. We experienced a precise robust e-commerce-led vacation play successful North America, peculiarly successful December, pursuing a little lull during the authorities shutdown. The e-commerce spot drove measurement maturation of 5.5% successful the 4th and 14.3% for the twelvemonth successful North America.

Excluding the interaction from warrants, automation was the different agleam spot successful the 4th arsenic we achieved astir 40% maturation connected a changeless currency ground and participate 2026 with a beardown bid book, giving america visibility to what we judge volition beryllium our largest maturation twelvemonth yet successful that area. With our 4th fourth performance, we deed the little extremity of our Adjusted EBITDA usher but did miss the apical enactment somewhat owed to a continued challenging situation successful Europe and a fewer automation task milestones getting pushed into Q1. Excluding the interaction of warrants, automation achieved the extremity of being northbound of $40 cardinal successful gross for the year, resulting successful astir 35% growth.

2025 was an important twelvemonth for Ranpak Holdings Corp. We strengthened our economical relationships with 2 of the world’s largest e-commerce and retail leaders. These are partnerships that we judge volition substance important maturation crossed some our protective and automation concern for years to come. We besides elevated our presumption arsenic a person successful automated container customization done a large collaboration with Medline Industries, the largest supplier of aesculapian surgical products and proviso concatenation solutions successful the U.S. Together, we are providing automation solutions crossed immoderate of the highest measurement operations successful the healthcare sector. These achievements validate the years of enactment and strategy we person been executing towards and mounting the signifier for Ranpak Holdings Corp.’s adjacent era.