Kornit Digital Ltd. ( (KRNT) ) has released its Q3 earnings. Here is a breakdown of the information Kornit Digital Ltd. presented to its investors.
Kornit Digital Ltd. is a global leader in sustainable, on-demand digital fashion and textile production technologies, offering end-to-end solutions including digital printing systems, inks, and software across more than 100 countries. The company reported its third quarter 2024 earnings, highlighting a significant improvement in non-GAAP gross margin and a return to adjusted EBITDA profitability. Despite a decrease in total revenue compared to the prior year, Kornit Digital achieved a non-GAAP net income of $5.5 million, driven by the growing adoption of its industry-leading platforms, Apollo and Atlas MAX, and the addition of new customers like Print Palace and Custom Ink. The third quarter saw a GAAP net loss of $0.9 million, but a positive shift to adjusted EBITDA of $1.5 million, indicating a promising turn towards profitability. Kornit Digital’s management expressed confidence in their strategic direction, emphasizing their focus on market expansion and execution of their growth plan as they enter 2025, anticipating fourth quarter revenues between $58 million to $63 million with an improved adjusted EBITDA margin.
