Kornit Digital Ltd. · NASDAQ:KRNT
Kornit Digital — Q4 2025 Earnings Presentation
23 slides from Kornit Digital's earnings presentation, Feb 11, 2026
Slide 1: Fourth Quarter and Full-Year 2025 Earnings Conference Call
KornitDigital (NASDAQ: KRNT) Fourth Quarter and Full-Year 2025 Earnings Conference Call Supporting Slides February 11, 2026 Kornit Digital. All Rights Reserved.
Slide 2: On Today's Call
On Today’s Call Ronen Samuel Assaf Zipori Andy Backman CEO CFO Chief Capital Markets Officer Kornit Digital. All Rights Reserved.
Slide 3: Safe Harbor
Safe Harbor This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. securities laws. Forward-looking statements are characterized by the use of forward-looking terminology such as “will,” “expects,” “anticipate
Slide 4: Business Highlights
Business Highlights Kornit Digital. All Rights Reserved.
Slide 5: Full-Year 2025 Recap
Full-Year 2025 Recap Achieved 2025 goals including: ✓ A return to revenue growth ✓ Transitioning business toward a more recurring ARR model ✓ Delivering positive Adjusted EBITDA and generating positive cash flow from operations ✓ Capturing share of bulk apparel production ✓ Driving impressions growt
Slide 6: Fourth Quarter 2025 Recap
Fourth Quarter 2025 Recap Q4'25 Revenues of Successful peak season Annualized Recurring $58.9m with strong double-digit Revenue (ARR) from AIC impression growth reached ~$25m at the Q4'25 Adjusted EBITDA of in Q4 YoY and 11% growth end of 2025 $5.5m for the full year 2025 Results reflect disciplined
Slide 7: Progress Updates
Progress Updates • Seeing a shift of impressions into longer runs and incremental bulk apparel production moving to digital • Over 40% of system deals in 2025 came from net new customers, many of them traditional screen printers adopting digital for the first time • Since the first Apollo installati
Slide 8: Progress Updates
Progress Updates Apollo & Atlas Bulk Apparel Customized Design • Over 40% of existing Apollo • Impressions are shifting into • Seeing encouraging customers added a second longer runs, with incremental momentum in our customized system or more in 2025 bulk apparel production design segment moving to
Slide 9: Progress Updates
Progress Updates • Continue to see growth in impressions and pipeline development in the sports footwear market • Global strategic customer recently placed an order to continue upgrading its fleet to the Atlas MAX platform, reinforcing long-term confidence in our technology and partnership Kornit Di
Slide 10: Looking Ahead in 2026
Looking Ahead in 2026 • Priorities remain clear: • Continue driving incremental impressions from screen market • Expanding AIC program • Delivering on our innovation roadmap to support growth beyond 2026 • Entering 2026 with a growing pipeline of opportunities and much better visibility for the year
Slide 11: KONNECTIONS '26
KONNECTIONS '26 DEFINING THE FUTURE OF DIGITAL PRINT. TOGETHER Showcasing breakthrough innovations aimed at expanding addressable markets, accelerating digital adoption, and enabling future growth HOLLYWOOD, FL | THE DIPLOMAT BEACH RESORT APRIL 12 – 14, 2026 Kornit Digital. All Rights Reserved.
Slide 12: Financial Highlights
Financial Highlights Kornit Digital. All Rights Reserved.
Slide 13: Revenues
Revenues • Q4 2025 revenues of $58.9 million vs. $60.7 million in Q4 2024; Reflects deliberate strategic shift in business • FY25 revenues grew to $208.2 million vs. $203.8 million in FY24; Driven by continued expansion of AIC program • Revenue composition continues to improve, reflecting a higher m
Slide 14: Annualized Recurring Revenue & All-Inclusive Click Growth
AnnualizedRecurringRevenue & All-InclusiveClickGrowth AIC Revenues ($Ms) $15.0 • Strong ARR growth demonstrates accelerating momentum • Exited the year with ~$25M in ARR from AIC program $3.3 • Full year 2025 AIC revenues of ~$15M, up ~360% Y/Y FY 2024 FY 2025 • Continue to scale AIC program on ARR
Slide 15: Gross Margins
Gross Margins • Q4 2025 non-GAAP gross margin of 50.7% Non-GAAP Gross Margin compared to 55.1% in Q4 2024 55.1% • Reflects in part changes in product mix and the 50.7% 48.6% 47.2% impact of tariffs • FY25 non-GAAP gross margin of 47.2% compared to 48.6% for FY24 • Longer term, expect annual gross ma
Slide 16: Operating Expenses
Operating Expenses • Q4 2025 Non-GAAP Operating Expenses: $27.1 million, down 3.1% year-over-year, including an unfavorable $1.1m impact from FX • FY25 Non-GAAP Operating Expenses: $107.1 million, down 2.5% year-over-year, including an unfavorable $2.6m impact from FX • Improvements a reflection of
Slide 17: P&L KPI's
P&L KPI’s Q4 2025 Q4 2024 FY 2025 FY 2024 Non-GAAP Operating Income (Loss) $2.7 $5.5 ($8.9) ($10.8) Adjusted EBITDA $5.5 $8.4 $1.5 $0.3 Non-GAAP Net Income (Loss) $8.3 $8.7 $14.4 10.1 Non-GAAP Diluted EPS $0.18 $0.18 $0.31 $0.20 GAAP Net Income (Loss) $1.7 $2.2 ($13.5) ($16.8) GAAP Diluted EPS $0.03
Slide 18: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow • At quarter end, cash, including bank deposits and marketable securities, was ~$491.2 million • Q4 2025 cash generated from operating activities: $10.6 million • Accounts receivable decreased ~$3.9 million sequentially from Q3 2025 • Inventories decreased ~$1.8 million seq
Slide 19: Share Repurchase Program
Share Repurchase Program • 2025 Share Repurchases: Repurchased $27 million during the year, including $2 million under the new $100 million program announced in November 2025 • Since 2023 Launch: Repurchased total of 6.9 million shares for a total gross amount of ~$167 million through Q4 2025 • Capi
Slide 20: First Quarter 2026 Guidance
First Quarter 2026 Guidance Q1 2026 Revenues: • Expected to be in the range of $45 million to $49 million Q1 2026 Adjusted EBITDA margin: • Expected to be in the range of negative 10% to negative 4% • Normal seasonality typically results in negative EBITDA margins in the first half of the year • As
Slide 21: Kornit Digital. All Rights Reserved.
Kornit Digital. All Rights Reserved.
Slide 22: Q4 2024 Q4 2025 YoY Growth
Q4 2024 Q4 2025 YoY Growth TTM ended December 31, 2024 TTM ended December 31, 2025 ~220m impressions ~243m impressions 10.6% Q4 2025 As of December 31, 2025 $24.8m *ARR from AIC reflects the minimum annual revenue commitment derived from all systems shipped under the AIC model Kornit Digital. All Ri
Slide 23: Thank You!
Thank You! Kornit Digital. All Rights Reserved.