Business
Kornit Digital Reports First Quarter 2025 Results
First quarter revenues of $46.5 million, in line with previous guidanceFirst quarter GAAP net loss of $5.1 million; non-GAAP net income of $0.6
About this update from Kornit Digital Ltd.
[{"type":"text","content":"First quarter revenues of $46.5 million, in line with previous guidanceFirst quarter GAAP net loss of $5.1 million; non-GAAP net income of $0.6 millionContinued to generate cash from operations, demonstrating disciplined executionReported annual recurring revenue from AIC contracts of $14.5 million, reflecting strong initial adoption of this new business model ROSH-HA`AYIN, Israel, May 14, 2025 (GLOBE NEWSWIRE) -- Kornit Digital Ltd. (“Kornit” or the “Company”) (Nasdaq: KRNT), a global leader in sustainable, on-demand, digital fashion and textile production technologies, today reported results for the first quarter ended March 31, 2025. “We delivered to our commitments in Q1, even as we operated in an uncertain macro environment,” said Ronen Samuel, Kornit’s Chief Executive Officer. “The apparel industry is undergoing significant disruption, and there has never been a better moment for Kornit to lead. Apollo combined with our AIC model is delivering robust impressions growth and unlocking the mass production segment which represents an estimated SAM of 4.5 billion impressions.” Mr. Samuel concluded, “The opportunity ahead is enormous, and Kornit is advancing with clarity, conviction, and purpose. We are playing offense and leading this transformation of how fashion is created, consumed, and delivered.” First Quarter 2025 Results of Operations Total revenue for the first quarter of 2025 was $46.5 million compared with $43.8 million in the prior year period.GAAP gross profit margin for the first quarter of 2025 was 42.6% compared with 32.3% in the prior year period. On a non-GAAP basis, gross profit margin was 45.2% compared with 37.5% in the prior year period.GAAP operating expenses for the first quarter of 2025 were $31.9 million compared with $32.4 million in the prior year period. On a non-GAAP basis, operating expenses increased by 1% to $27.4 million compared with the prior year period.GAAP net loss for the first quarter of 2025 was $5.1 million, or ($0.11) per basic share, compared with net loss of $13.2 million, or ($0.28) per basic share, for the first quarter of 2024.Non-GAAP net income for the first quarter of 2025 was $0.6 million, or $0.01 per diluted share, compared with non-GAAP net loss of $5.3 million, or ($0.11) per basic share, for the first quarter of 2024.Adjusted EBITDA loss for the first quarter of 2025 was ...