Business
Kornit Digital Reports Second Quarter 2021 Results
Revenue Increases 118% Year-Over-Year Second quarter revenue increased 118% year-over-year to $81.7 million, net of $6.6 million attributed to the non-cash
About this update from Kornit Digital Ltd.
[{"type":"text","content":"Revenue Increases 118% Year-Over-Year\nSecond quarter revenue increased 118% year-over-year to $81.7 million, net of $6.6 million attributed to the non-cash impact of warrants Second quarter GAAP operating profit of $6.1 million; Non-GAAP operating profit of $10.2 million, net of $6.6 million attributed to the non-cash impact of warrantsAll geographic regions posted significant year-over-year and sequential growth; Americas and EMEA regions revenue more than doubled year-over-yearSuccessfully completed beta testing and began shipments of Atlas Max; Very strong order backlog and positive customer feedback on increased productivity, unique XDi capabilities, and unparalleled print quality and durabilityVisibility, pipeline and confidence for the remainder of year and into next year have never been strongerAnnounced acquisition of Voxel8 accelerates execution of Kornit’s 4.0 strategy to digitize on-demand textile production; Significantly expands Company’s reach into existing and new lucrative markets ROSH-HA`AYIN, Israel, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Kornit Digital Ltd. (NASDAQ: KRNT), a worldwide market leader in digital textile production technologies, reported results for the second quarter ended June 30, 2021. “Our second quarter results capped off what was a remarkable first half of the year for Kornit,” said Ronen Samuel, Kornit Digital’s Chief Executive Officer. “The Company executed across the board, delivering on massive global expansion projects with top strategic customers and driving growth from new customers, both in the DTG and DTF product lines. We began shipping our Atlas Max mass production systems after very successful beta testing, and are seeing great momentum for KornitX, as evidenced by our recently announced partnership with Canva, the largest on-line design software and content provider in the world.” Mr. Samuel continued, “We are also pleased to announce our acquisition of Voxel8, which will help us accelerate the execution of our 4.0 strategy to digitize on-demand sustainable textile production. Through Voxel8’s advanced and proven 3D technology, which has been tested by some of the world’s leading fashion and footwear brands including Hush Puppies, which is part of Wolverine Worldwide, we will disrupt the business of fashion, empowering completely new creative decorative concepts and never-before-see...