Business
Kornit Digital Reports First Quarter 2022 Results
First quarter revenues of $83.3 million, net of non-cash warrants impact of $8.0 million; up 26% year-over-yearFirst quarter GAAP operating loss of $6.9
About this update from Kornit Digital Ltd.
[{"type":"text","content":"First quarter revenues of $83.3 million, net of non-cash warrants impact of $8.0 million; up 26% year-over-yearFirst quarter GAAP operating loss of $6.9 million; Non-GAAP operating loss of $0.7 million, net of $8.0 million attributed to the non-cash impact of warrantsExceptional quarter for Presto and overall systems salesExcellent adoption and feedback for Atlas MaxRecord quarter in Asia Pacific; Strong performance in EMEA and AmericasGround-breaking new product introductions unveiled at Kornit Fashion Week - Tel Aviv including Atlas MAX Poly and Kornit ApolloGearing up for Kornit Fashion Week – London – May 15th – 17th, and FESPA Berlin ROSH-HA'AYIN, Israel, May 11, 2022 (GLOBE NEWSWIRE) -- Kornit Digital Ltd. (NASDAQ: KRNT), a worldwide market leader in sustainable, on-demand, digital fashionx and textile production technologies, reported today results for the first quarter ended March 31, 2022. “We are pleased to have delivered a good start to the year and are excited about our tremendous period of ground-breaking new product introductions,” said Ronen Samuel, Kornit Digital’s Chief Executive Officer. “During the quarter, we made significant progress with some of the largest and most respected global brands and retailers, supported our global strategic account with major expansion and capacity initiatives, and introduced some of the most innovative and disruptive systems and solutions to the market.” Mr. Samuel concluded, “The tailwinds driving the industry to on-demand sustainable production are intensifying with an accelerated level of focus to shifting a substantial amount of impressions to nearshore, short-medium run production, addressing evolving online and retail business models. We believe our unmatched portfolio of mass-production MAX solutions, including our recently announced Kornit Apollo - all powered by our unique KornitX platform – place Kornit in a great position to capitalize on these evolving and accelerating market opportunities and trends. While we are certainly not immune to overall macro-economic headwinds and near-term volatility, which we see impacting our second quarter growth, we continue to expect to deliver, ahead of plan, on the $125 million run-rate business we originally targeted for the fourth quarter 2023 and remain confident in our journey to become a billion-dollar business in 2026.” The fo...