Refrigeration is the removal of heat from a material or space, so that it’s temperature is lower than that of it’s surroundings.
When refrigerant absorbs the unwanted heat, this raises the refrigerant’s temperature (“Saturation Temperature”) so that it changes from a liquid to a gas — it evaporates. The system then uses condensation to release the heat and change the refrigerant back into a liquid. This is called “Latent Heat”.
This cycle is based on the physical principle, that a liquid extracts heat from the surrounding area as it expands (boils) into a gas.