Slide 1: First Quarter 2025 Earnings Conference Call Supporting Slides
Kornit Digital. All Rights Reserved. Kornit Digital. All Rights Reserved. Kornit Digital (NASDAQ: KRNT) First Quarter 2025 Earnings Conference Call Supporting Slides May 14, 2025 Kornit Digital. All Rights Reserved.
Slide 2: On Today's Call
Kornit Digital. All Rights Reserved. On Today’s Call Ronen Samuel CEO Lauri Hanover CFO Jared Maymon Investor Relations
Slide 3: Safe Harbor
Kornit Digital. All Rights Reserved. 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 ter
Slide 4: Business Highlights
Kornit Digital. All Rights Reserved. Business Highlights
Slide 5: First Quarter 2025 Recap
Kornit Digital. All Rights Reserved. ― Revenues of $46.5 million and adjusted EBITDA margin of – 8.4% ― Within the guidance range provided in February, even as we operated in an uncertain environment ― Generated positive cash from operations during the quarter, demonstrating continued discipline Fir
Slide 6: Market update
Kornit Digital. All Rights Reserved. ― Global supply chains no longer meets the demands of today's consumer ― The apparel supply chain realizes it must produce only what sells, closer to the consumer, and in small runs ― Kornit's digital platform delivers the agility that the market needs to win ― R
Slide 7: Tariff Impacts
Kornit Digital. All Rights Reserved. ― Kornit produces its products primarily in Israel ― Taking proactive measures to mitigate impacts, and now anticipating only a modest cost effect if new tariffs are enacted ― Tariffs reinforce positioning in the market as a top supplier of digital, on - demand p
Slide 8: Apollo Adoption
Kornit Digital. All Rights Reserved. ― Delivering robust impressions growth, especially for longer production runs ― Unlocking a high - volume segment and increasingly seeing runs of 1,000+ units ― Engaging with screen printers that previously did not seriously consider the transition to digital ― C
Slide 9: All-Inclusive Click (AIC)
Kornit Digital. All Rights Reserved. ― Proving to be a disruptive "print - as - a - service" approach in a hardware - centric industry ― Designed to lower the barrier to entry and align our success with customer success ― Reached a significant milestone at the end of Q1 as annual recurring revenue (
Slide 10: Impressions growth
Kornit Digital. All Rights Reserved. ― First time disclosing impressions, which is calculated on a trailing twelve - months basis ― Reached a record 222 million impressions in the twelve - months ended March 31, 2025 ― Growth of 10% versus prior twelve - month period was driven by strong system util
Slide 11: Konnections
Kornit Digital. All Rights Reserved. ― Flagship Konnections event hosted in May brought together hundreds of fulfillers, brands, retailers, and other demand generators with Kornit at the center ― Announced a new strategic partnership with MAS ACME, one of the world's leading supply chain partners to
Slide 12: Looking ahead
Kornit Digital. All Rights Reserved. ― While macro uncertainty remains, speed, agility, and relevance is the new standard in apparel ― Kornit is leading the change with the right technology, a proven business model, and the operational scale to support the evolving needs of our customers ― Based on
Slide 13: Financial Highlights
Kornit Digital. All Rights Reserved. Financial Highlights
Slide 14: Revenues
Kornit Digital. All Rights Reserved. ― Q 1 2025 revenues were $ 46.5 million ― Year - over - year product growth, primarily driven by AIC ― Service revenue declined from lower Atlas MAX upgrades, partly offset by upgrades to MAX Plus Revenues $43.8 $46.5 Q1 Revenues ($M) 2024 2025 63% 24% 13% Revenu
Slide 15: Gross Margins
Kornit Digital. All Rights Reserved. ― Q1 2025 non - GAAP gross margin of 45.3% compared to 37.5% in Q1 2024 ― Improvement was driven by the removal of warrant impact and operating efficiencies ― A one - time materials recovery effort added approximately 2 percentage points to Service margin Gross M
Slide 16: Operating Expenses
Kornit Digital. All Rights Reserved. ― Q1 2025 Non - GAAP Operating Expenses: $27.4 million, up from $27.1 million in Q1 2024 Operating Expenses Non - GAAP Operating Expenses ($ in millions) Q1 2025 Q1 2024 $8.1 $9.8 Research & Development $13.3 $11.9 Sales & Marketing $6.0 $5.3 General & Administra
Slide 17: P&L KPI's
Kornit Digital. All Rights Reserved. P&L KPI’s Q1 2025 Q1 2024 ($6.4) ($10.7) Non - GAAP Operating Loss ($3.9) ($7.8) Adjusted EBITDA Loss $0.6 ($5.3) Non - GAAP Net Income (Loss) $0.01 ($0.11) Non - GAAP Diluted income (loss) per share ($5.1) ($13.2) GAAP Net Loss ($0.11) ($0.28) GAAP Diluted loss
Slide 18: Balance Sheet & Cash Flow
Kornit Digital. All Rights Reserved. ― At quarter end, cash, including bank deposits and marketable securities, was ~$ 513 million ― Q 1 2025 cash generated from operating activities: ~$ 5.8 million ― Q 1 2025 free cash flow of ~$ ʥ . ʣ million ― Accounts receivable decreased ~$ 4.1 million from Q 4
Slide 19: Share Repurchase Program
Kornit Digital. All Rights Reserved. ― Completed $75 million accelerated share repurchase program, from which we repurchased approximately 2.5 million shares ― Repurchased an additional ~330 thousand shares through a traditional open market repurchase during Q1 ― Activity during the quarter brings t
Slide 20: Second Quarter 2025 Guidance
Kornit Digital. All Rights Reserved. ― Q1 2025 Revenues: ― Expected to be in the range of $49 million to $55 million ― Q4 2024 Adjusted EBITDA margin: ― Expected to be in the range of - 4% to 4% Second Quarter 2025 Guidance
Slide 21: Kornit Digital. All Rights Reserved.
Kornit Digital. All Rights Reserved.
Slide 22: Thank You!
Kornit Digital. All Rights Reserved. Thank You!