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Side-by-side financial comparison of Ranpak Holdings Corp. (PACK) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
Purple Innovation, Inc. is the larger business by last-quarter revenue ($140.7M vs $93.7M, roughly 1.5× Ranpak Holdings Corp.). On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs 2.3%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% CAGR vs 8.3%).
Ranpak Holdings Corp. manufactures machines and paper products used in protective paper-based packing for shipping goods and merchandise for e-commerce and industry, along with automation solutions. The company is based in Concord, Ohio, and has production facilities and offices in Reno, Nevada; Kansas City, Missouri; the Netherlands; Czech Republic; Shanghai and Singapore. The paper packaging material can be used for multiple applications like wrapping, cushioning, void fill and cold chain p...
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
PACK vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.7M | $140.7M |
| Net Profit | — | $-3.2M |
| Gross Margin | 39.0% | 41.9% |
| Operating Margin | -1.0% | -1.6% |
| Net Margin | — | -2.3% |
| Revenue YoY | 2.3% | 9.1% |
| Net Profit YoY | — | 62.1% |
| EPS (diluted) | $-0.11 | $0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $93.7M | $140.7M | ||
| Q3 25 | $83.6M | $118.8M | ||
| Q2 25 | $77.8M | $105.1M | ||
| Q1 25 | $77.6M | $104.2M | ||
| Q4 24 | $91.6M | $129.0M | ||
| Q3 24 | $78.6M | $118.6M | ||
| Q2 24 | $72.8M | $120.3M | ||
| Q1 24 | $72.5M | $120.0M |
| Q4 25 | — | $-3.2M | ||
| Q3 25 | $-10.4M | $-11.7M | ||
| Q2 25 | $-7.5M | $-17.3M | ||
| Q1 25 | $-10.9M | $-19.1M | ||
| Q4 24 | — | $-8.5M | ||
| Q3 24 | $-8.1M | $-39.2M | ||
| Q2 24 | $5.5M | $27.0K | ||
| Q1 24 | $-8.1M | $-50.2M |
| Q4 25 | 39.0% | 41.9% | ||
| Q3 25 | 41.1% | 42.8% | ||
| Q2 25 | 37.1% | 35.9% | ||
| Q1 25 | 39.8% | 39.4% | ||
| Q4 24 | 45.2% | 42.9% | ||
| Q3 24 | 43.8% | 29.7% | ||
| Q2 24 | 43.5% | 40.7% | ||
| Q1 24 | 44.6% | 34.8% |
| Q4 25 | -1.0% | -1.6% | ||
| Q3 25 | -6.8% | -10.2% | ||
| Q2 25 | -12.5% | -13.5% | ||
| Q1 25 | -10.3% | -13.9% | ||
| Q4 24 | 1.5% | -6.0% | ||
| Q3 24 | -5.3% | -39.5% | ||
| Q2 24 | -7.1% | -12.1% | ||
| Q1 24 | -6.6% | -19.3% |
| Q4 25 | — | -2.3% | ||
| Q3 25 | -12.4% | -9.9% | ||
| Q2 25 | -9.6% | -16.5% | ||
| Q1 25 | -14.0% | -18.4% | ||
| Q4 24 | — | -6.6% | ||
| Q3 24 | -10.3% | -33.1% | ||
| Q2 24 | 7.6% | 0.0% | ||
| Q1 24 | -11.2% | -41.8% |
| Q4 25 | $-0.11 | $0.03 | ||
| Q3 25 | $-0.12 | $0.11 | ||
| Q2 25 | $-0.09 | $0.16 | ||
| Q1 25 | $-0.13 | $0.18 | ||
| Q4 24 | $-0.13 | $0.08 | ||
| Q3 24 | $-0.10 | $0.36 | ||
| Q2 24 | $0.07 | $0.00 | ||
| Q1 24 | $-0.10 | $0.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $63.0M | $24.3M |
| Total DebtLower is stronger | $401.9M | $126.7M |
| Stockholders' EquityBook value | $534.9M | $-29.7M |
| Total Assets | $1.1B | $296.3M |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.0M | $24.3M | ||
| Q3 25 | $49.9M | $32.4M | ||
| Q2 25 | $49.2M | $34.2M | ||
| Q1 25 | $65.5M | $21.6M | ||
| Q4 24 | $76.1M | $29.0M | ||
| Q3 24 | $69.5M | $23.4M | ||
| Q2 24 | $65.1M | $23.4M | ||
| Q1 24 | $55.1M | $34.5M |
| Q4 25 | $401.9M | $126.7M | ||
| Q3 25 | $403.1M | — | ||
| Q2 25 | $403.1M | — | ||
| Q1 25 | $405.2M | — | ||
| Q4 24 | $406.4M | $70.7M | ||
| Q3 24 | $403.2M | $50.8M | ||
| Q2 24 | $396.1M | — | ||
| Q1 24 | $396.7M | — |
| Q4 25 | $534.9M | $-29.7M | ||
| Q3 25 | $537.8M | $-26.9M | ||
| Q2 25 | $539.0M | $-15.6M | ||
| Q1 25 | $544.1M | $1.3M | ||
| Q4 24 | $548.1M | $20.2M | ||
| Q3 24 | $564.3M | $28.0M | ||
| Q2 24 | $566.2M | $66.4M | ||
| Q1 24 | $560.0M | $65.5M |
| Q4 25 | $1.1B | $296.3M | ||
| Q3 25 | $1.1B | $302.1M | ||
| Q2 25 | $1.1B | $303.8M | ||
| Q1 25 | $1.1B | $293.8M | ||
| Q4 24 | $1.1B | $307.8M | ||
| Q3 24 | $1.1B | $309.3M | ||
| Q2 24 | $1.1B | $362.1M | ||
| Q1 24 | $1.1B | $382.1M |
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.75× | — | ||
| Q2 25 | 0.75× | — | ||
| Q1 25 | 0.74× | — | ||
| Q4 24 | 0.74× | 3.50× | ||
| Q3 24 | 0.71× | 1.82× | ||
| Q2 24 | 0.70× | — | ||
| Q1 24 | 0.71× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $19.5M | $-5.8M |
| Free Cash FlowOCF − Capex | — | $-7.8M |
| FCF MarginFCF / Revenue | — | -5.5% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.5M | $-5.8M | ||
| Q3 25 | $8.5M | $-968.0K | ||
| Q2 25 | $-3.6M | $-4.0M | ||
| Q1 25 | $-1.3M | $-23.1M | ||
| Q4 24 | $6.5M | $6.8M | ||
| Q3 24 | $10.1M | $1.1M | ||
| Q2 24 | $19.6M | $-8.9M | ||
| Q1 24 | $5.2M | $-16.8M |
| Q4 25 | — | $-7.8M | ||
| Q3 25 | — | $-1.8M | ||
| Q2 25 | — | $-7.0M | ||
| Q1 25 | — | $-25.3M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $101.0K | ||
| Q2 24 | — | $-11.0M | ||
| Q1 24 | — | $-19.9M |
| Q4 25 | — | -5.5% | ||
| Q3 25 | — | -1.5% | ||
| Q2 25 | — | -6.6% | ||
| Q1 25 | — | -24.3% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | -9.2% | ||
| Q1 24 | — | -16.5% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.56× | -330.22× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
