Kornit Digital Ltd. · NASDAQ:KRNT
Kornit Digital — Q3 2021 Earnings Presentation
20 slides from Kornit Digital's earnings presentation, Nov 10, 2021
Slide 1: Kornit Digital Q3 2021 Earnings Call Supporting Slides
KORNIT DIGITAL (NASDAQ: KRNT) Q3 2021 EARNINGS CALL SUPPORTING SLIDES 1 ©2021 Kornit Digital. All rights reserved.
Slide 2: Safe Harbor
SAFE HARBOR This presentation contains forward-looking statements within the meaning of U.S. securities laws. All statements other than statements of historical fact contained in this presentation are forward-looking statements. In some cases, you can identify forward-looking statements by terminolo
Slide 3: On Today's Call
ON TODAY’S CALL Ronen Samuel Alon Rozner Amir Shaked Mandel Andrew Backman CEO CFO EVP Corp Dev Global Head of IR 3 ©2021 Kornit Digital. All rights reserved.
Slide 4: Business Highlights
BUSINESS HIGHLIGHTS RONEN SAMUEL Chief Executive Officer 4 ©2021 Kornit Digital. All rights reserved.
Slide 5: ©2021 Kornit Digital. All rights reserved.
5 ©2021 Kornit Digital. All rights reserved. ©2021
Slide 6: Phenomenal Quarter
PHENOMENAL QUARTER • Record revenues; Strong operating margins; Very good cash flow from operations; Solid balance sheet • Revenues increased 51% year-over-year ➢ Record quarter for all regions; Very strong growth in North America and Asia Pacific ➢ Great mix of sales across systems, consumables, an
Slide 7: ©2021 Kornit Digital. All rights reserved.
7 ©2021 Kornit Digital. All rights reserved.
Slide 8: Business Activity
BUSINESS ACTIVITY • Presto Max introduced; Will transform how textiles are manufactured • Breaks the barriers between imagination and physical applications • Unique groundbreaking capabilities like white printing on colored fabrics, neon colors and Kornit’s XDi technology for 3D decorative applicati
Slide 9: Business Activity: KornitX
BUSINESS ACTIVITY Continued great traction with KornitX de bs Guy Avidan will be leaving Kornit; Aaron Yanelli saw te passion! — promoted to President of KornitX ~ 4h er: < ES Consumers Fulfillers p ©2021 Komit Digital. All rights reserved. qd Seyrbis
Slide 10: Business Activity
BUSINESS ACTIVITY • Tremendous third quarter and first nine months of the year • Currently focused on closing the year strong and supporting our customers to ensure they’re ready for a successful peak season • Gearing up for what we expect to be an amazing 2022 for the Company • Based on our strong
Slide 11: Financial Highlights
FINANCIAL HIGHLIGHTS ALON ROZNER Chief Financial Officer 11 ©2021 Kornit Digital. All rights reserved.
Slide 12: Quarterly Revenues
QUARTERLY REVENUES • Revenue of $86.7 million vs. $57.4 million in prior year, an increase of 51% YoY and an increase of 6% QoQ • Service revenue of $10.1 million accounting for 12% of revenues compared to $8.1 in prior year • 10 largest accounts represented 65.5% of revenues compared to 58.3% in pr
Slide 13: Quarterly Gross Margin and Opex
QUARTERLY GROSS MARGIN AND OPEX • Non-GAAP gross margin of 47.8% decreased slightly from 48.1% in Q3 2020 • Non-GAAP operating expenses of $32.9 million compared to $21.2 in the previous year Non GAAP Operating Expenses (% of Revenue) Q3 2021 Q3 2020 Research & Development 12.4% 13.8% Sales & Market
Slide 14: Quarterly P&L KPI
QUARTERLY P&L KPI Q3 2021 Q3 2020 Non-GAAP Operating Income $8.6 $6.5 Non-GAAP Net Income $11.5 $7.7 Non-GAAP Diluted EPS $0.24 $0.18 GAAP Net Income $3.9 $3.9 GAAP Diluted EPS $0.08 $0.09 Adjusted EBITDA $18.0 $9.4 $ in millions except per share amounts 14 ©2021 Kornit Digital. All rights reserved.
Slide 15: Quarterly Balance Sheet and Cash Flow
QUARTERLY BALANCE SHEET AND CASH FLOW Balance Sheet Cash from Operating Activities Q3 2021 Q2 2021 Q3 2020 Cash, Deposits & Marketable Securities $457.5 $441.8 $405.3 Accounts Recievable $49.9 $62.7 $49.7 Inventory $55.3 $52.6 $46.3 Trade Payable $30.6 $31.4 $24.8 Net Working Capital $388.9 $398.6 $
Slide 16: Q4 2021 Guidance
Q4 2021 GUIDANCE* • Revenue is expected to be between $89 million to $93 million • Non-GAAP operating income is expected to be between 13% to 15% of revenue *We assume zero impact of warrants on revenue and operating margin for the purposes of guidance 16 ©2021 Kornit Digital. All rights reserved.
Slide 17: Closing Remarks
Closing Remarks RONEN SAMUEL Chief Executive Officer 17 ©2021 Kornit Digital. All rights reserved.
Slide 18: ©2021 Kornit Digital. All rights reserved.
18 ©2021 Kornit Digital. All rights reserved.
Slide 19: ©2021 Kornit Digital. All rights reserved.
19 ©2021 Kornit Digital. All rights reserved.
Slide 20: Thank You
THANK YOU OUR VISION CREATE A BETTER WORLD WHERE EVERYBODY CAN BOND, DESIGN AND EXPRESS THEIR IDENTITIES, ONE IMPRESSION AT A TIME ©2021 Kornit Digital. All rights reserved.