Kornit Digital Ltd. ( (KRNT) ) has released its Q4 earnings. Here is a breakdown of the information Kornit Digital Ltd. presented to its investors.
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Kornit Digital Ltd., a global leader in sustainable, on-demand digital fashion and textile production technologies, is recognized for its innovative solutions in digital printing systems and fulfillment services. The company, headquartered in Israel, serves customers in over 100 countries.
Kornit Digital Ltd. recently announced their financial results for the fourth quarter and the full year of 2024, highlighting positive EBITDA and strong cash flow. The company reported fourth-quarter revenues of $60.7 million, aligning with previous guidance, and celebrated the successful implementation of their Apollo platform, which significantly contributed to their market momentum.
Key financial metrics for the fourth quarter of 2024 include a GAAP net income of $2.2 million and a non-GAAP net income of $8.7 million, marking a substantial improvement from the net loss reported in the prior year. The GAAP gross profit margin for Q4 was 51.3%, a notable increase from 25.8% the previous year. For the full year 2024, the company achieved revenues of $203.8 million, with a GAAP gross profit margin of 45.0%.
Strategically, Kornit Digital has focused on returning to positive EBITDA, generating cash flow, and introducing groundbreaking innovations. The company successfully reduced operating expenses and expanded into new strategic areas, setting a strong foundation for long-term growth.
Looking ahead, Kornit Digital management is optimistic about leveraging the progress made in 2024 to drive scalable and profitable growth in 2025. They plan to strengthen their market leadership and continue advancing the industry with their innovative solutions.
