$PACK
Ranpak Holdings Corp.

2022 Q2 Form 10-Q Financial Statement

#000095017022013292 Filed on July 28, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $86.80M $82.50M $109.1M
YoY Change -3.56% -5.93% 18.72%
Cost Of Revenue $58.50M $57.90M $70.20M
YoY Change 7.73% 12.65% 31.71%
Gross Profit $28.30M $24.60M $38.90M
YoY Change -20.73% -32.23% 0.78%
Gross Profit Margin 32.6% 29.82% 35.66%
Selling, General & Admin $30.30M $29.70M $27.50M
YoY Change 23.17% 55.5% 90.97%
% of Gross Profit 107.07% 120.73% 70.69%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.60M $18.80M $19.20M
YoY Change -0.93% 5.03% 10.34%
% of Gross Profit 37.46% 76.42% 49.36%
Operating Expenses $30.30M $29.70M $37.80M
YoY Change 23.17% 55.5% 40.0%
Operating Profit $11.40M -$13.80M $1.100M
YoY Change 936.36% -279.22% -90.52%
Interest Expense $4.900M $5.000M -$3.900M
YoY Change -18.33% -10.71% -76.51%
% of Operating Profit 42.98% -354.55%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$14.00M -$18.20M -$2.800M
YoY Change 129.51% -419.3% -44.0%
Income Tax $2.700M $4.100M -$300.0K
% Of Pretax Income
Net Earnings -$11.30M -$14.10M -$2.500M
YoY Change 117.31% -323.81% -51.92%
Net Earnings / Revenue -13.02% -17.09% -2.29%
Basic Earnings Per Share -$0.14 -$0.17
Diluted Earnings Per Share -$0.14 -$0.17 -$31.84K
COMMON SHARES
Basic Shares Outstanding 81.94M 81.57M
Diluted Shares Outstanding 81.94M 81.57M

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.20M $80.50M $103.9M
YoY Change -52.75% 98.77% 114.23%
Cash & Equivalents $59.20M $80.50M $103.9M
Short-Term Investments
Other Short-Term Assets $20.30M $11.70M $8.300M
YoY Change 497.06% 244.12% 144.12%
Inventory $42.80M $41.20M $32.90M
Prepaid Expenses
Receivables $42.80M $47.60M $43.70M
Other Receivables $6.300M $6.000M $2.700M
Total Short-Term Assets $171.4M $187.0M $191.5M
YoY Change -15.02% 71.88% 78.64%
LONG-TERM ASSETS
Property, Plant & Equipment $120.4M $123.1M $126.3M
YoY Change -3.53% 1.65% 1.53%
Goodwill $444.1M $451.3M $453.0M
YoY Change -2.37% -0.51% -1.18%
Intangibles $384.9M $398.6M $406.5M
YoY Change -9.07% -7.13% -7.74%
Long-Term Investments
YoY Change
Other Assets $38.00M $34.40M $29.40M
YoY Change 283.84% 405.88% 913.79%
Total Long-Term Assets $992.5M $1.013B $1.022B
YoY Change -2.74% -0.39% -0.43%
TOTAL ASSETS
Total Short-Term Assets $171.4M $187.0M $191.5M
Total Long-Term Assets $992.5M $1.013B $1.022B
Total Assets $1.164B $1.200B $1.213B
YoY Change -4.77% 6.59% 7.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $31.40M $39.40M $33.50M
YoY Change -5.42% 47.57% 34.54%
Accrued Expenses $7.900M $14.00M $27.00M
YoY Change -56.35% -1.41% 3.45%
Deferred Revenue $1.400M $2.100M $3.100M
YoY Change -33.33% 5.0% 121.43%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0K $400.0K $400.0K
YoY Change -20.0% 0.0% -20.0%
Total Short-Term Liabilities $53.60M $67.70M $71.50M
YoY Change -18.42% 22.2% 24.35%
LONG-TERM LIABILITIES
Long-Term Debt $388.2M $398.1M $400.4M
YoY Change -4.88% -6.77% -7.46%
Other Long-Term Liabilities $4.600M $1.300M $900.0K
YoY Change 411.11% 44.44% -25.0%
Total Long-Term Liabilities $392.8M $399.4M $401.3M
YoY Change -3.96% -6.66% -7.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $53.60M $67.70M $71.50M
Total Long-Term Liabilities $392.8M $399.4M $401.3M
Total Liabilities $545.0M $568.9M $577.2M
YoY Change -8.08% -5.55% -5.47%
SHAREHOLDERS EQUITY
Retained Earnings -$80.70M -$69.40M -$55.30M
YoY Change 57.0% 50.22% 5.33%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $618.9M $631.4M $636.2M
YoY Change
Total Liabilities & Shareholders Equity $1.164B $1.200B $1.213B
YoY Change -4.77% 6.59% 7.05%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$11.30M -$14.10M -$2.500M
YoY Change 117.31% -323.81% -51.92%
Depreciation, Depletion And Amortization $10.60M $18.80M $19.20M
YoY Change -0.93% 5.03% 10.34%
Cash From Operating Activities -$6.900M $9.400M $13.50M
YoY Change -122.4% -24.8% -48.08%
INVESTING ACTIVITIES
Capital Expenditures -$13.10M $9.800M -$14.20M
YoY Change -51.12% -10.09% -284.42%
Acquisitions
YoY Change
Other Investing Activities -$4.900M
YoY Change 276.92%
Cash From Investing Activities -$13.10M -$10.70M -$19.10M
YoY Change -51.12% -4.46% 112.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -600.0K -3.100M -600.0K
YoY Change -100.82% -64.77% 50.0%
NET CHANGE
Cash From Operating Activities -6.900M 9.400M 13.50M
Cash From Investing Activities -13.10M -10.70M -19.10M
Cash From Financing Activities -600.0K -3.100M -600.0K
Net Change In Cash -20.60M -23.40M -6.200M
YoY Change -126.68% 192.5% -137.35%
FREE CASH FLOW
Cash From Operating Activities -$6.900M $9.400M $13.50M
Capital Expenditures -$13.10M $9.800M -$14.20M
Free Cash Flow $6.200M -$400.0K $27.70M
YoY Change -89.24% -125.0% 51.37%

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<p id="fs_footnotes" style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Note </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1 </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">—</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> Nature of Operations</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Ranpak Holdings Corp. is a leading provider of environmentally sustainable, systems-based, product protection solutions for e-Commerce and industrial supply chains. Through proprietary protective packaging solutions (“PPS”) systems and paper consumables, the Company offers a full suite of protective packaging solutions. The Automated Solutions (“AS”) and Automated Paper Solutions (“APS”) (collectively, “Automation”) product lines provide end-of-line automation systems that solve distinct challenges facing end-users. The Company’s business is global, with a strong presence in the United States and Europe. Throughout this report, when we refer to “Ranpak,” the “Company,” “we,” “our,” or “us,” we are referring to Ranpak Holdings Corp. and all of our subsidiaries, except where the context indicates otherwise.</span></p>
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CY2022Q2 pack Right Of Use Asset Obtained In Exchange Lease Liability
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CY2021Q2 pack Dilutive Effect Of Shares Omitted From Calculation Of Diluted Weighted Average Shares Outstanding And Diluted Earnings Per Share
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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