Ranpak Holdings Corporation reported net revenue of $99.6 million for the third quarter of 2025, up from $92.2 million in the same period of 2024. For the nine months ended September 30, 2025, net revenue was $283.1 million, compared to $263.9 million for the same period in 2024. Net product revenue for the third quarter of 2025 reached $83.6 million, an increase from $78.6 million in the prior year, while machine lease revenue rose to $16.0 million from $13.6 million. For the nine-month period, net product revenue was $239.0 million, up from $223.9 million, and machine lease revenue totaled $44.1 million, compared to $40.0 million in 2024. Ranpak reported a net loss of $28.8 million for the nine months ended September 30, 2025, widening from a net loss of $10.7 million in the same period of 2024. Depreciation and amortization expenses in cost of sales were $22.7 million for the nine months ended September 30, 2025, down from $24.5 million in 2024. Cash flow from operating activities included adjustments such as $49.7 million in depreciation and amortization, $6.2 million in stock-based compensation expense, and a $5.0 million foreign currency gain for the nine months ended September 30, 2025.