Kornit Digital Ltd. · NASDAQ:KRNT
Kornit Digital — Q2 2025 Earnings Presentation
21 slides from Kornit Digital's earnings presentation, Aug 6, 2025
Slide 1: Kornit Digital Second Quarter 2025 Earnings Conference Call
Kornit Digital (NASDAQ: KRNT) Second Quarter 2025 Earnings Conference Call Supporting Slides August 6, 2025 Kornit Digital. All Rights Reserved.
Slide 2: On Today's Call
On Today’sCall Ronen Samuel Lauri Hanover Jared Maymon CEO CFO Investor Relations Kornit Digital. All Rights Reserved.
Slide 3: Safe Harbor
SafeHarbor 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,” “anticipates
Slide 4: Business Highlights
Business Highlights Kornit Digital. All Rights Reserved.
Slide 5: Second Quarter 2025 Recap
SecondQuarter2025 Recap • Revenues of $49.8 million and adjusted EBITDA margin of –2.3% • Within the guidance range provided in May, but below the midpoint due to consumables and service headwinds • Systems sales and AIC drove growth • Grew annual recurring revenue from AIC to $18.9m Kornit Digital.
Slide 6: Market update
Market update • Uncertainty and a soft consumer environment continues to impact customers' capex decisions • Still seeing consistent and encouraging growth in production across installed base • Impressions grew 4.7% year-over-year to 222.7 million, with strong double-digit growth from top customers
Slide 7: Market Update, Continued
Market Update, Continued • We see recovery within customized design • Utilization with customized design customers is continuing to trend positively • Customers including Cimpress, T-Shirt & Sons, Snuggle, and Flashship Logistics are bolstering their fleets with Apollo and Atlas MAX Plus • Global St
Slide 8: Market Update, Continued
Market Update, Continued • Major progress in penetrating the screen market • New deals were signed with new screen-printing customers in the quarter, including with Promos, Basic Thinking, Printeez, and T-Shirt Factory • Many production runs from these new customers fall between 250-500, with some r
Slide 9: New Vertical Opportunities
New Vertical Opportunities • Additional systems are being installed with footwear customers in China, Vietnam, and Europe • Footwear customers are using systems for mass-market production showing the scalability and adaptability of Kornit's solution • Planning to launch additional groundbreaking cap
Slide 10: Looking ahead
Looking ahead • Expecting low single-digit growth in H2 • Executing against a defined plan of scaling Apollo, accelerating AIC adoption, strengthening screen market funnel, and maximizing utilization across install base • Maintaining operational discipline, and continuing to target adjusted EBITDA p
Slide 11: Financial Highlights
Financial Highlights Kornit Digital. All Rights Reserved.
Slide 12: Revenues
Revenues • Q2 2025 revenues were $49.8 million • Year-over-year revenue growth was driven by systems and AIC • Consumables and services revenues declined mainly from customer inventory adjustments and fewer upgrades Q2 Revenues ($M) Revenues By Region 12% $49.8 $48.6 26% 62% 2024 2025 Americas EMEA
Slide 13: Gross Margins
Gross Margins • Q2 2025 non-GAAP gross margin of 46.3% compared to 48.6% in Q2 2024 • Year-over-year decline was driven primarily by a lower portion of consumables revenue in sales mix Q2 Non-GAAP Gross Margin 48.6% 46.3% Kornit Digital. All Rights Reserved. 2024 2025
Slide 14: Operating Expenses
OperatingExpenses Q2 2025 Non-GAAP Operating Expenses: $26.7 million, down from $28 million in Q2 2024 Non-GAAP Operating Expenses ($ in millions) Q2 2024 Q2 2025 Research & Development $9.1 $7.9 Sales & Marketing $13.1 $13.1 General & Administrative $5.8 $5.7 Total Operating Expenses(1) $28.0 $26.7
Slide 15: P&L KPI's
P&L KPI’s Q2 2024 Q2 2025 Non-GAAP Operating Loss ($4.3) ($3.7) Adjusted EBITDA Loss ($1.6) ($1.2) Non-GAAP Net Income $1.1 $1.2 Non-GAAP Diluted income per share $0.02 $0.03 GAAP Net Loss ($4.9) ($7.5) GAAP loss per share ($0.10) ($0.17) $ in millions, except per share amounts Kornit Digital. All R
Slide 16: Balance Sheet & Cash Flow
BalanceSheet& Cash Flow ― At quarter end, cash, including bank deposits and marketable securities, was ~$489 million ― Q2 2025 cash generated from operating activities: ~$3.7 million ― Q2 2025 free cash flow of ~$2.1 million ― Accounts receivable increased ~$3.1 million from Q1 2025 ― Inventories de
Slide 17: Share Repurchase Program
ShareRepurchaseProgram ― Completed $100 million share repurchase program authorized in September 2024, from which we repurchased approximately 3.6 million shares ― Activity during the quarter brings total repurchases since the beginning of 2023 to ~6.7 million shares for a total consideration of $16
Slide 18: Third Quarter 2025 Guidance
ThirdQuarter2025 Guidance ― Q3 2025 Revenues: ― Expected to be in the range of $49 million to $55 million ― Q3 2025 Adjusted EBITDA margin: ― Expected to be in the range of -3% to 3% Kornit Digital. All Rights Reserved.
Slide 19: Kornit Digital. All Rights Reserved.
Kornit Digital. All Rights Reserved.
Slide 20: Impressions and AIC ARR
Q2 2024 Q2 2025 YoY Growth TTM ended June 30, 2024 TTM ended June 30, 2025 212.8m impressions 222.7m impressions 4.7% Q2 2025 As of June 30, 2025 $18.9m* *ARR from AIC reflects the anticipated yearly revenue derived from all systems shipped on the AIC model Kornit Digital. All Rights Reserved.
Slide 21: Thank You!
Thank You! Kornit Digital. All Rights Reserved.