Financial PerformanceShares declined more than 20% after Kornit reported lackluster results and management noted that several KPIs are behind schedule.
Market OutlookKRNT shares are down sharply intra-day after Q2 results came in below consensus, with management providing a weaker Q3 outlook, reflecting a slower ramp in the new Apollo system and some lingering de-stocking in ink that contributed to the weaker Q2 performance.
Revenue ChallengesThe company experienced weakness in consumables and services revenue, both declining at a double-digit rate year-over-year.