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10-Q Filing

Ranpak Holdings Corp. CIK: 1712463 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0000950170-23-018910
Period End Date 20230331
Filing Date 20230508
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance pack-20230331_htm.xml
Filing Contents
Balance Sheet 64 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $58.60M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $62.80M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $34.40M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $33.00M USD Point-in-time
Inventories, net InventoryNet $25.00M USD Point-in-time
Inventories, net InventoryNet $22.60M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $2.10M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $5.20M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $19.40M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $16.70M USD Point-in-time
Total current assets AssetsCurrent $139.60M USD Point-in-time
Total current assets AssetsCurrent $140.20M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $124.00M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $127.00M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $21.90M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $6.00M USD Point-in-time
Goodwill Goodwill $448.70M USD Point-in-time
Goodwill Goodwill $446.70M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $372.10M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $366.40M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $600.00K USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $600.00K USD Point-in-time
Other assets OtherAssetsNoncurrent $44.50M USD Point-in-time
Other assets OtherAssetsNoncurrent $44.40M USD Point-in-time
Total assets Assets $1.15B USD Point-in-time
Total assets Assets $1.13B USD Point-in-time
Accounts payable AccountsPayableCurrent $24.30M USD Point-in-time
Accounts payable AccountsPayableCurrent $21.90M USD Point-in-time
Accrued liabilities and other AccruedLiabilitiesAndOtherLiabilities $15.30M USD Point-in-time
Accrued liabilities and other AccruedLiabilitiesAndOtherLiabilities $10.60M USD Point-in-time
Current portion of long-term debt CurrentPortionOfLongTermDebtAndFinanceLeaseLiabilities $1.30M USD Point-in-time
Current portion of long-term debt CurrentPortionOfLongTermDebtAndFinanceLeaseLiabilities $1.40M USD Point-in-time
Operating lease liabilities, current OperatingLeaseLiabilityCurrent $2.00M USD Point-in-time
Operating lease liabilities, current OperatingLeaseLiabilityCurrent $2.70M USD Point-in-time
Deferred machine fee revenue ContractWithCustomerLiabilityCurrent $900.00K USD Point-in-time
Deferred machine fee revenue ContractWithCustomerLiabilityCurrent $1.60M USD Point-in-time
Total current liabilities LiabilitiesCurrent $42.90M USD Point-in-time
Total current liabilities LiabilitiesCurrent $39.10M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $395.00M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $391.70M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $82.30M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $80.80M USD Point-in-time
Derivative instruments DerivativeLiabilitiesNoncurrent $4.70M USD Point-in-time
Derivative instruments DerivativeLiabilitiesNoncurrent $3.70M USD Point-in-time
Operating lease liabilities, non-current OperatingLeaseLiabilityNoncurrent $4.00M USD Point-in-time
Operating lease liabilities, non-current OperatingLeaseLiabilityNoncurrent $19.20M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.40M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.50M USD Point-in-time
Total liabilities Liabilities $545.60M USD Point-in-time
Total liabilities Liabilities $520.70M USD Point-in-time
Commitments and contingencies - Note 13 CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies - Note 13 CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $706.70M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $704.30M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-109.10M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-96.70M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $6.00M USD Point-in-time
Accumulated other comprehensive income (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $5.20M USD Point-in-time
Total shareholders' equity StockholdersEquity $631.40M USD Point-in-time
Total shareholders' equity StockholdersEquity $636.20M USD Point-in-time
Total shareholders' equity StockholdersEquity $603.60M USD Point-in-time
Total shareholders' equity StockholdersEquity $612.80M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.15B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.13B USD Point-in-time
Income Statement 48 line items
Line Item Tag Value Unit Period
Net revenue Revenues $82.50M USD 1 Quarter
Net revenue Revenues $81.20M USD 1 Quarter
Cost of goods sold CostOfRevenue $57.90M USD 1 Quarter
Cost of goods sold CostOfRevenue $53.70M USD 1 Quarter
Gross profit GrossProfit $24.60M USD 1 Quarter
Gross profit GrossProfit $27.50M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $27.20M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $29.70M USD 1 Quarter
Depreciation and amortization expense DepreciationAndAmortization $8.00M USD 1 Quarter
Depreciation and amortization expense DepreciationAndAmortization $8.20M USD 1 Quarter
Other operating expense (income), net OtherOperatingIncomeExpenseNet $-500.00K USD 1 Quarter
Other operating expense (income), net OtherOperatingIncomeExpenseNet $-1.20M USD 1 Quarter
Income (loss) from operations OperatingIncomeLoss $-13.80M USD 1 Quarter
Income (loss) from operations OperatingIncomeLoss $-8.90M USD 1 Quarter
Interest expense InterestExpense $5.70M USD 1 Quarter
Interest expense InterestExpense $5.00M USD 1 Quarter
Foreign currency (gain) loss ForeignCurrencyTransactionGainLossBeforeTax $-600.00K USD 1 Quarter
Foreign currency (gain) loss ForeignCurrencyTransactionGainLossBeforeTax $200.00K USD 1 Quarter
Other non-operating expense, net OtherNonoperatingIncomeExpense $-300.00K USD 1 Quarter
Other non-operating expense, net OtherNonoperatingIncomeExpense - USD 1 Quarter
Income (loss) before income tax benefit IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-18.20M USD 1 Quarter
Income (loss) before income tax benefit IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-14.50M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-4.10M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-2.10M USD 1 Quarter
Net income (loss) NetIncomeLoss $-14.10M USD 1 Quarter
Net income (loss) NetIncomeLoss $-12.40M USD 1 Quarter
Basic EarningsPerShareBasic $-0.15 USD 1 Quarter
Basic EarningsPerShareBasic $-0.17 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.15 USD 1 Quarter
Diluted EarningsPerShareDiluted $-0.17 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 82.14M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 81.57M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 82.14M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 81.57M shares 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $3.10M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $-2.80M USD 1 Quarter
Interest rate swap adjustments OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax $8.10M USD 1 Quarter
Interest rate swap adjustments OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax $-2.10M USD 1 Quarter
Cross currency swap adjustments OtherComprehensiveIncomeLossCrossCurrencySwapAdjustmentsBeforeTax $100.00K USD 1 Quarter
Cross currency swap adjustments OtherComprehensiveIncomeLossCrossCurrencySwapAdjustmentsBeforeTax $-1.00M USD 1 Quarter
Total other comprehensive loss, before tax OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent - USD 1 Quarter
Total other comprehensive loss, before tax OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent $5.40M USD 1 Quarter
Provision for income taxes related to other comprehensive loss OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $2.00M USD 1 Quarter
Provision for income taxes related to other comprehensive loss OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $-800.00K USD 1 Quarter
Total other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.40M USD 1 Quarter
Total other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $800.00K USD 1 Quarter
Comprehensive loss, net of tax ComprehensiveIncomeNetOfTax $-11.60M USD 1 Quarter
Comprehensive loss, net of tax ComprehensiveIncomeNetOfTax $-10.70M USD 1 Quarter
Cash Flow Statement 64 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-14.10M USD 1 Quarter
Net loss NetIncomeLoss $-12.40M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $18.80M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $16.30M USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $400.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $400.00K USD 1 Quarter
Loss on disposal of fixed assets GainLossOnDispositionOfAssets1 $-300.00K USD 1 Quarter
Loss on disposal of fixed assets GainLossOnDispositionOfAssets1 - USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-1.40M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $2.00M USD 1 Quarter
Amortization of initial value of interest rate swap AmortizationOfDeferredHedgeGains $-200.00K USD 1 Quarter
Amortization of initial value of interest rate swap AmortizationOfDeferredHedgeGains $-200.00K USD 1 Quarter
Currency (gain) loss on foreign denominated debt and notes payable ForeignCurrencyTransactionGainLossUnrealized $-200.00K USD 1 Quarter
Currency (gain) loss on foreign denominated debt and notes payable ForeignCurrencyTransactionGainLossUnrealized $200.00K USD 1 Quarter
Amortization of restricted stock units RestrictedStockExpense $8.80M USD 1 Quarter
Amortization of restricted stock units RestrictedStockExpense $2.80M USD 1 Quarter
Amortization of cloud-based software implementation costs CapitalizedComputerSoftwareAmortization1 $700.00K USD 1 Quarter
Amortization of cloud-based software implementation costs CapitalizedComputerSoftwareAmortization1 - USD 1 Quarter
(Increase) decrease in receivables, net IncreaseDecreaseInAccountsReceivable $-4.80M USD 1 Quarter
(Increase) decrease in receivables, net IncreaseDecreaseInAccountsReceivable $1.20M USD 1 Quarter
(Increase) decrease in inventory IncreaseDecreaseInInventories $-2.70M USD 1 Quarter
(Increase) decrease in inventory IncreaseDecreaseInInventories $7.60M USD 1 Quarter
(Increase) decrease in prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.20M USD 1 Quarter
(Increase) decrease in prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $2.70M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayable $2.90M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayable $-2.10M USD 1 Quarter
Increase (decrease) in accrued liabilities IncreaseDecreaseInAccruedLiabilities $-4.90M USD 1 Quarter
Increase (decrease) in accrued liabilities IncreaseDecreaseInAccruedLiabilities $3.20M USD 1 Quarter
Change in other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $2.50M USD 1 Quarter
Change in other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $5.90M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $7.50M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-9.40M USD 1 Quarter
Converter equipment PaymentsToAcquireMachineryAndEquipment $8.40M USD 1 Quarter
Converter equipment PaymentsToAcquireMachineryAndEquipment $4.50M USD 1 Quarter
Other capital expenditures PaymentsToAcquireOtherPropertyPlantAndEquipment $1.40M USD 1 Quarter
Other capital expenditures PaymentsToAcquireOtherPropertyPlantAndEquipment $7.30M USD 1 Quarter
Total capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $11.80M USD 1 Quarter
Total capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $9.80M USD 1 Quarter
Patent and trademark expenditures PaymentsToAcquireIntangibleAssets $900.00K USD 1 Quarter
Patent and trademark expenditures PaymentsToAcquireIntangibleAssets - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-11.80M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-10.70M USD 1 Quarter
Proceeds from equity offering, gross ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Proceeds from equity offering, gross ProceedsFromIssuanceOfCommonStock $800.00K USD 1 Quarter
Principal Payments on term loans RepaymentsOfLinesOfCredit $400.00K USD 1 Quarter
Principal Payments on term loans RepaymentsOfLinesOfCredit $400.00K USD 1 Quarter
Payments on finance lease liabilities FinanceLeasePrincipalPayments $200.00K USD 1 Quarter
Payments on finance lease liabilities FinanceLeasePrincipalPayments $200.00K USD 1 Quarter
Tax payments for withholdings on stock-based awards distributed TaxPaymentsForWithholdingsOnStockBasedAwardsDistributed $500.00K USD 1 Quarter
Tax payments for withholdings on stock-based awards distributed TaxPaymentsForWithholdingsOnStockBasedAwardsDistributed $2.50M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-300.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-3.10M USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-200.00K USD 1 Quarter
Effect of Exchange Rate Changes on Cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $400.00K USD 1 Quarter
Net Increase (Decrease ) in Cash and Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-23.40M USD 1 Quarter
Net Increase (Decrease ) in Cash and Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-4.20M USD 1 Quarter
Cash and Cash Equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $58.60M USD Point-in-time
Cash and Cash Equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $62.80M USD Point-in-time
Cash and Cash Equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $80.50M USD Point-in-time
Cash and Cash Equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $103.90M USD Point-in-time
Cash and Cash Equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $58.60M USD Point-in-time
Cash and Cash Equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $62.80M USD Point-in-time
Cash and Cash Equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $80.50M USD Point-in-time
Cash and Cash Equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $103.90M USD Point-in-time
Stockholders Equity 16 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquity $631.40M USD Point-in-time
Beginning Balance StockholdersEquity $636.20M USD Point-in-time
Beginning Balance StockholdersEquity $603.60M USD Point-in-time
Beginning Balance StockholdersEquity $612.80M USD Point-in-time
Stock-based awards vested and distributed StockIssuedDuringPeriodValueNewIssues $-400.00K USD 1 Quarter
Stock-based awards vested and distributed StockIssuedDuringPeriodValueNewIssues $-2.90M USD 1 Quarter
Amortization of restricted stock units AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition $8.80M USD 1 Quarter
Amortization of restricted stock units AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition $2.80M USD 1 Quarter
Net loss NetIncomeLoss $-14.10M USD 1 Quarter
Net loss NetIncomeLoss $-12.40M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $3.40M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $800.00K USD 1 Quarter
Ending Balance StockholdersEquity $631.40M USD Point-in-time
Ending Balance StockholdersEquity $636.20M USD Point-in-time
Ending Balance StockholdersEquity $603.60M USD Point-in-time
Ending Balance StockholdersEquity $612.80M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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