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Side-by-side financial comparison of Ranpak Holdings Corp. (PACK) and Sezzle Inc. (SEZL). Click either name above to swap in a different company.
Ranpak Holdings Corp. is the larger business by last-quarter revenue ($93.7M vs $78.2M, roughly 1.2× Sezzle Inc.). On growth, Sezzle Inc. posted the faster year-over-year revenue change (61.6% vs 2.3%). Over the past eight quarters, Sezzle Inc.'s revenue compounded faster (76.0% CAGR vs 13.7%).
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...
Sezzle is a publicly traded financial technology company headquartered in Minneapolis, U.S, with operations in the United States and Canada. The company provides an alternative payment platform offering interest-free installment plans at selected online stores. As of June 2021, the Sezzle platform had over 10 million user sign-ups and over 48,000 participating merchants.
PACK vs SEZL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.7M | $78.2M |
| Net Profit | — | $42.7M |
| Gross Margin | 39.0% | — |
| Operating Margin | -1.0% | 70.6% |
| Net Margin | — | 54.6% |
| Revenue YoY | 2.3% | 61.6% |
| Net Profit YoY | — | 68.3% |
| EPS (diluted) | $-0.11 | $1.19 |
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 | $78.2M | ||
| Q3 25 | $83.6M | $57.5M | ||
| Q2 25 | $77.8M | $52.0M | ||
| Q1 25 | $77.6M | $48.2M | ||
| Q4 24 | $91.6M | $48.4M | ||
| Q3 24 | $78.6M | $35.6M | ||
| Q2 24 | $72.8M | $30.2M | ||
| Q1 24 | $72.5M | $25.2M |
| Q4 25 | — | $42.7M | ||
| Q3 25 | $-10.4M | $26.7M | ||
| Q2 25 | $-7.5M | $27.6M | ||
| Q1 25 | $-10.9M | $36.2M | ||
| Q4 24 | — | $25.4M | ||
| Q3 24 | $-8.1M | $15.4M | ||
| Q2 24 | $5.5M | $29.7M | ||
| Q1 24 | $-8.1M | $8.0M |
| Q4 25 | 39.0% | — | ||
| Q3 25 | 41.1% | — | ||
| Q2 25 | 37.1% | — | ||
| Q1 25 | 39.8% | — | ||
| Q4 24 | 45.2% | — | ||
| Q3 24 | 43.8% | — | ||
| Q2 24 | 43.5% | — | ||
| Q1 24 | 44.6% | — |
| Q4 25 | -1.0% | 70.6% | ||
| Q3 25 | -6.8% | 61.9% | ||
| Q2 25 | -12.5% | 69.4% | ||
| Q1 25 | -10.3% | — | ||
| Q4 24 | 1.5% | 63.8% | ||
| Q3 24 | -5.3% | 58.6% | ||
| Q2 24 | -7.1% | 55.3% | ||
| Q1 24 | -6.6% | 54.8% |
| Q4 25 | — | 54.6% | ||
| Q3 25 | -12.4% | 46.4% | ||
| Q2 25 | -9.6% | 53.1% | ||
| Q1 25 | -14.0% | 75.1% | ||
| Q4 24 | — | 52.4% | ||
| Q3 24 | -10.3% | 43.4% | ||
| Q2 24 | 7.6% | 98.4% | ||
| Q1 24 | -11.2% | 31.7% |
| Q4 25 | $-0.11 | $1.19 | ||
| Q3 25 | $-0.12 | $0.75 | ||
| Q2 25 | $-0.09 | $0.78 | ||
| Q1 25 | $-0.13 | $1.00 | ||
| Q4 24 | $-0.13 | $0.71 | ||
| Q3 24 | $-0.10 | $0.44 | ||
| Q2 24 | $0.07 | $0.82 | ||
| Q1 24 | $-0.10 | $0.22 |
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 | $64.1M |
| Total DebtLower is stronger | $401.9M | — |
| Stockholders' EquityBook value | $534.9M | $169.8M |
| Total Assets | $1.1B | $400.2M |
| Debt / EquityLower = less leverage | 0.75× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.0M | $64.1M | ||
| Q3 25 | $49.9M | $104.1M | ||
| Q2 25 | $49.2M | $88.9M | ||
| Q1 25 | $65.5M | $88.9M | ||
| Q4 24 | $76.1M | $73.2M | ||
| Q3 24 | $69.5M | $80.1M | ||
| Q2 24 | $65.1M | $58.0M | ||
| Q1 24 | $55.1M | $77.8M |
| Q4 25 | $401.9M | — | ||
| Q3 25 | $403.1M | — | ||
| Q2 25 | $403.1M | — | ||
| Q1 25 | $405.2M | — | ||
| Q4 24 | $406.4M | — | ||
| Q3 24 | $403.2M | — | ||
| Q2 24 | $396.1M | — | ||
| Q1 24 | $396.7M | — |
| Q4 25 | $534.9M | $169.8M | ||
| Q3 25 | $537.8M | $155.3M | ||
| Q2 25 | $539.0M | $130.4M | ||
| Q1 25 | $544.1M | $125.8M | ||
| Q4 24 | $548.1M | $87.8M | ||
| Q3 24 | $564.3M | $61.1M | ||
| Q2 24 | $566.2M | $50.3M | ||
| Q1 24 | $560.0M | $29.6M |
| Q4 25 | $1.1B | $400.2M | ||
| Q3 25 | $1.1B | $367.0M | ||
| Q2 25 | $1.1B | $350.6M | ||
| Q1 25 | $1.1B | $298.1M | ||
| Q4 24 | $1.1B | $298.4M | ||
| Q3 24 | $1.1B | $252.9M | ||
| Q2 24 | $1.1B | $212.1M | ||
| Q1 24 | $1.1B | $195.7M |
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.75× | — | ||
| Q2 25 | 0.75× | — | ||
| Q1 25 | 0.74× | — | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | 0.71× | — | ||
| 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 | $70.6M |
| Free Cash FlowOCF − Capex | — | $70.6M |
| FCF MarginFCF / Revenue | — | 90.2% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $209.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.5M | $70.6M | ||
| Q3 25 | $8.5M | $63.7M | ||
| Q2 25 | $-3.6M | $23.1M | ||
| Q1 25 | $-1.3M | $52.5M | ||
| Q4 24 | $6.5M | $57.4M | ||
| Q3 24 | $10.1M | $35.1M | ||
| Q2 24 | $19.6M | $22.2M | ||
| Q1 24 | $5.2M | $16.0M |
| Q4 25 | — | $70.6M | ||
| Q3 25 | — | $63.6M | ||
| Q2 25 | — | $22.7M | ||
| Q1 25 | — | $52.5M | ||
| Q4 24 | — | $57.4M | ||
| Q3 24 | — | $35.1M | ||
| Q2 24 | — | $22.2M | ||
| Q1 24 | — | $16.0M |
| Q4 25 | — | 90.2% | ||
| Q3 25 | — | 110.6% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | — | 108.9% | ||
| Q4 24 | — | 118.5% | ||
| Q3 24 | — | 98.6% | ||
| Q2 24 | — | 73.4% | ||
| Q1 24 | — | 63.3% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | — | 1.65× | ||
| Q3 25 | — | 2.39× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 1.45× | ||
| Q4 24 | — | 2.26× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | 3.56× | 0.75× | ||
| Q1 24 | — | 2.00× |
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% |
SEZL
| Merchant And Partner Income | $28.9M | 37% |
| Transaction Income | $25.9M | 33% |
| Income From Other Services Late Payment Fees | $20.5M | 26% |
| Other | $2.9M | 4% |
