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Kornit Digital Reports First Quarter 2025 Results

• First quarter revenues of $46.5 million, in line with previous guidance
• First quarter GAAP net loss of $5.1 million; non-GAAP net income of $0.6 million
• Continued to generate cash from operations, demonstrating disciplined execution
• Reported annual recurring revenue from AIC contracts of $14.5 million, reflecting strong initial adoption of this new business model

ROSH-HA`AYIN, Israel, May 14, 2025 (GLOBE NEWSWIRE) -- 听Kornit Digital Ltd. (鈥淜ornit鈥� or the 鈥淐ompany鈥�) (Nasdaq: KRNT), a global leader in sustainable, on-demand, digital fashion and textile production technologies, today reported results for the first quarter ended March 31, 2025.

鈥淲e delivered to our commitments in Q1, even as we operated in an uncertain macro environment,鈥� said Ronen Samuel, Kornit鈥檚 Chief Executive Officer. 鈥淭he apparel industry is undergoing significant disruption, and there has never been a better moment for Kornit to lead. Apollo combined with our AIC model is delivering robust impressions growth and unlocking the mass production segment which represents an estimated SAM of 4.5 billion impressions.鈥�

Mr. Samuel concluded, 鈥淭he opportunity ahead is enormous, and Kornit is advancing with clarity, conviction, and purpose. We are playing offense and leading this transformation of how fashion is created, consumed, and delivered.鈥�

First Quarter 2025 Results of Operations

• Total revenue for the first quarter of 2025 was $46.5 million compared with $43.8 million in the prior year period.
  
  
• GAAP gross profit margin for the first quarter of 2025 was 42.6% compared with 32.3% in the prior year period. On a non-GAAP basis, gross profit margin was 45.2% compared with 37.5% in the prior year period.
  
  
• GAAP operating expenses for the first quarter of 2025 were $31.9 million compared with $32.4 million in the prior year period. On a non-GAAP basis, operating expenses increased by 1% to $27.4 million compared with the prior year period.
  
  
• GAAP net loss for the first quarter of 2025 was $5.1 million, or ($0.11) per basic share, compared with net loss of $13.2 million, or ($0.28) per basic share, for the first quarter of 2024.
  
  
• Non-GAAP net income for the first quarter of 2025 was $0.6 million, or $0.01 per diluted share, compared with non-GAAP net loss of $5.3 million, or ($0.11) per basic share, for the first quarter of 2024.
  
  
• Adjusted EBITDA loss for the first quarter of 2025 was $3.9 million compared with adjusted EBITDA loss of $7.8 million for the first quarter of 2024. Adjusted EBITDA margin for the first quarter of 2025 was negative 8.4% compared with negative 17.9% for the first quarter of 2024.
  

Second Quarter 2025 Guidance

For the second quarter of 2025, the Company expects revenues to be in the range of $49 million to $55 million and adjusted EBITDA margin between negative 4% and 4%.

First Quarter Earnings Conference Call Information

The Company will host a conference call today at 8:30 a.m. ET, or 3:30 p.m. Israel time, to discuss the results, followed by a question-and-answer session with the investor community.

A live webcast of the call can be accessed at . To access the call, participants may dial toll-free at 1-877-407-0792 or 1-201-689-8263. The international number is 1 809 406 247.

To listen to a replay of the conference call, dial toll-free 1-844-512-2921 or 1-412-317-6671 and enter access ID 13753164. The telephonic replay will be available approximately three hours after the completion of the live call until 11:59 pm ET on May 28, 2025. The call will also be available for replay via the webcast link on Kornit鈥檚 Investor Relations website.

About Kornit Digital

Kornit Digital (NASDAQ: KRNT) is a worldwide market leader in sustainable, on-demand, digital fashion, and textile production technologies. The company offers end-to-end solutions including digital printing systems, inks, consumables, software, and fulfillment services through its global fulfillment network. Headquartered in Israel with offices in the USA, Europe, and Asia Pacific, Kornit Digital serves customers in more than 100 countries and states worldwide. To learn more about how Kornit Digital is boldly transforming the world of fashion and textiles, visit .

Forward Looking Statements

Certain statements in this press release are 鈥渇orward-looking statements鈥� 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 鈥渨ill,鈥� 鈥渆xpects,鈥� 鈥渁nticipates,鈥� 鈥渃ontinue,鈥� 鈥渂elieves,鈥� 鈥渟hould,鈥� 鈥渋ntended,鈥� 鈥済uidance,鈥� 鈥減reliminary,鈥� 鈥渇uture,鈥� 鈥減lanned,鈥� or other words. These forward-looking statements include, but are not limited to, statements relating to the Company鈥檚 objectives, plans and strategies, statements of preliminary or projected results of operations or of financial condition and all statements that address activities, events, or developments that the Company intends, expects, projects, believes or anticipates will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things: the duration and severity of adverse macro-economic headwinds that were caused by inflationary pressures and higher interest rates, which have impacted, and may continue to impact, in an adverse manner, the Company鈥檚 operations, financial position and cash flows, in part due to the adverse impact on the Company鈥檚 customers and suppliers; the Company鈥檚 degree of success in developing, introducing and selling new or improved products and product enhancements including specifically the Company鈥檚 Poly Pro and Presto products, and the Company鈥檚 Apollo direct-to-garment platform; the extent of the Company鈥檚 ability to consummate sales to large accounts with multi-system delivery plans; the degree of the Company鈥檚 ability to fill orders for its systems and consumables; the extent of the Company鈥檚 ability to increase sales of its systems, ink and consumables; the extent of the Company鈥檚 ability to leverage its global infrastructure build-out; the development of the market for digital textile printing; the availability of alternative ink; competition; sales concentration; changes to the Company鈥檚 relationships with suppliers; the extent of the Company鈥檚 success in marketing; and those additional factors referred to under 鈥淩isk Factors鈥� in Item 3.D of the Company鈥檚 Annual Report on Form 20-F for the year ended December 31, 2024, filed with the SEC on March 28, 2025. Any forward-looking statements in this press release are made as of the date hereof, whether as a result of new information, future events or otherwise, except as required by law.

Non-GAAP Discussion Disclosure

The Company presents certain non-GAAP financial measures, in this press release and in the accompanying conference call to discuss the Company鈥檚 quarterly results. These non-GAAP financial measures reflect adjustments to corresponding GAAP financial measures in order to exclude the impact of the following: share-based compensation expenses; amortization of intangible assets; restructuring expenses; foreign exchange differences associated with ASC 842; and non-cash deferred tax income.

The Company defines 鈥淎djusted EBITDA鈥� as non-GAAP operating income (loss), which reflects the adjustments described in the preceding paragraph, as further adjusted to exclude depreciation expense.

The purpose of the foregoing non-GAAP financial measures is to convey the Company鈥檚 performance exclusive of non-cash charges and other items that are considered by management to be outside of the Company鈥檚 core operating results. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Furthermore, the non-GAAP measures are regularly used internally to understand, manage, and evaluate the Company鈥檚 business and make operating decisions, and the Company believes that they are useful to investors as a consistent and comparable measure of the ongoing performance of the Company鈥檚 business. The Company鈥檚 non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with the Company鈥檚 consolidated financial statements prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies.

The reconciliation tables included below present a reconciliation of our non-GAAP financial measures to the most directly comparable GAAP financial measures.

Investor Contact:听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听
Jared Maymon
Global Head of Investor Relations & Strategic Finance
听