Grunt Style significantly increases production speed and shortens reaction time for surging customer demand – powered by the automated Kornit Apollo direct-to-garment digital print solution.Addition of digital production to existing screen printing ensures no item is ever out of stock as demand grows for patriotic apparel ROSH-HA`AYIN, Israel, March 26, 2025 (GLOBE NEWSWIRE) -- Kornit Digital LTD. (NASDAQ:KRNT) ("Kornit" or the "Company"), a global pioneer in sustainable, on-demand digital fashion and texti ...

Grunt Style significantly increases production speed and shortens reaction time for surging customer demand – powered by the automated Kornit Apollo direct-to-garment digital print solution.Addition of digital production to existing screen printing ensures no item is ever out of stock as demand grows for patriotic apparel ROSH-HA`AYIN, Israel, March 26, 2025 (GLOBE NEWSWIRE) -- Kornit Digital LTD. (NASDAQ: KRNT) (“Kornit” or the “Company”), a global pioneer in sustainable, on-demand digital fashion and text ...

Group 1 - Kornit Digital LTD. announced that American Classics Apparel, Inc. is adopting the Kornit Apollo platform to enhance its production capabilities and meet increasing customer demand in the e-tailer marketplace [1][4][7] - American Classics Apparel has been a reputable name in licensed apparel for nearly three decades, offering products associated with iconic brands in music, movies, and television, sold through major retailers and online platforms [2][6] - The integration of Kornit Apollo, along with existing Kornit systems, will enable American Classics to deliver faster, more efficient, and high-quality products [3][5] Group 2 - The adoption of Kornit Apollo is seen as a strategic move to address labor shortages and the need for speed and flexibility in production, which is critical in the licensed apparel market [4][5][7] - Kornit Digital positions itself as a leader in sustainable, on-demand digital fashion and textile production technologies, serving customers in over 100 countries [6]

Core Insights - Kornit Digital LTD. has announced that American Classics Apparel, Inc. is adopting the Kornit Apollo platform to enhance its production capabilities and meet increasing customer demand [1][4][7] - The Kornit Apollo platform represents a shift from traditional screen printing to high-speed digital production, allowing American Classics to improve efficiency and quality [1][3][5] Company Overview - American Classics Apparel, Inc. is a well-established wholesaler of licensed apparel, known for its iconic designs from music, movies, and television, and has been in operation for nearly three decades [2] - The company sells its products through major retailers like Walmart and online platforms such as Amazon, establishing itself as a leader in fan gear [2] Technological Advancements - The integration of Kornit Apollo, along with existing Kornit systems, positions American Classics to deliver faster production times and maintain high-quality standards [3][4] - The Kornit Apollo platform is expected to address labor shortages and enhance production flexibility, which is crucial in the fast-paced licensed apparel market [4][5] Industry Impact - The adoption of Kornit Apollo by American Classics is seen as a significant advancement in the licensed apparel sector, setting a new standard for speed and quality in production [5][6] - Kornit Digital is recognized as a leader in sustainable, on-demand digital fashion and textile production technologies, serving customers globally [6]

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Financial Data and Key Metrics Changes - Q4 2024 revenues were reported at $60.7 million, reflecting a year-over-year growth of 7% driven by system sales and revenue from the AIC model [21][24] - For the full year 2024, revenues totaled $203.8 million, down from $219.8 million in 2023, primarily due to lower systems and services sales, partially offset by growth in consumables [21][22] - Non-GAAP gross margin for Q4 was 55.1%, up from 48.6% in the same period last year, while the full year gross margin improved to 48.6% from 38.4% in 2023 [22][25] - Adjusted EBITDA for Q4 was $8.4 million, significantly up from $0.2 million in the same period last year, with a margin of 13.8% compared to 0.3% [24][25] - Operating cash flow for Q4 increased to $26.7 million from $2.6 million year-over-year, with full year cash flow at $48.7 million compared to negative $34.7 million in 2023 [26] Business Line Data and Key Metrics Changes - The Apollo platform was highlighted as a key driver of performance, with 15 systems delivered in 2024, contributing to mass-scale digital production [10][12] - The company successfully transitioned customers from Atlas to Atlas MAX and is now upgrading to Atlas MAX Plus, indicating strong adoption of new technology [13] - The AIC model is driving strong adoption and generating meaningful annual recurring revenue (ARR), which will be reported starting Q1 2025 [13][30] Market Data and Key Metrics Changes - Kornit expanded into new markets such as bulk apparel, footwear, and home decor, with significant steps taken in the footwear sector, including deliveries to major customers in Asia [14][15] - The company noted a shift towards on-demand manufacturing among brands and retailers, which is critical for responding to consumer demand while minimizing excess inventory [17][18] Company Strategy and Development Direction - Kornit aims to build a resilient and profitable business, focusing on execution in 2025 to translate the foundation laid in 2024 into scalable growth [19][20] - The company is emphasizing customer success, account management, and recurring revenue growth, with a strong focus on innovation and disciplined financial management [15][20] - Kornit plans to deliver 30 Apollo systems in 2025, doubling the number delivered in 2024, indicating confidence in demand and market potential [39][95] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2025, citing a strong pipeline and visibility for revenue growth, particularly from the Apollo and AIC models [46][47] - However, they acknowledged macroeconomic uncertainties, including potential tariffs and inflationary pressures that could impact consumer purchasing power [18][19] - The company is closely monitoring customer behavior in light of geopolitical developments and potential tariffs, with a "wait and see" approach from customers [76][78] Other Important Information - Kornit executed $75 million of its $100 million share repurchase program, with plans to complete the remaining amount by mid-2025 [16][27] - The company is focused on improving gross margins and expects a moderate improvement in 2025 compared to 2024 [92][93] Q&A Session Summary Question: Goals for 2025 and top line growth potential - Management highlighted 2024 as a transformative year with clear targets set for positive EBITDA and substantial cash generation, with a focus on execution in 2025 [35][38] Question: Roll-to-roll opportunity in 2025 - Management noted improvements in the roll-to-roll market due to new product releases and increased demand from customers, indicating optimism for 2025 [50][57] Question: Performance of Apollo during the holiday season - Apollo systems exceeded expectations during the peak season, with high customer satisfaction and plans for additional orders [60][64] Question: Equipment purchases or upgrades from strategic accounts - Management confirmed ongoing upgrades from key customers, including Printful, and expressed satisfaction with the performance of upgraded systems [70][72] Question: Gross margins in Q1 - Management indicated that Q1 is typically the lowest gross margin quarter due to seasonality, but improvements in cost efficiency are expected [75][82] Question: Customer behavior regarding tariffs - Customers are uncertain about potential tariffs and are adopting a "wait and see" approach, with some considering moving operations onshore [76][78] Question: Number of customers for Apollo systems in 2025 - Management indicated a mix of existing and new customers for the 30 Apollo systems planned for 2025, with a balanced approach to installations [99][101]

Core Viewpoint - Kornit Digital reported quarterly earnings of $0.18 per share, missing the Zacks Consensus Estimate of $0.21 per share, but showing an improvement from $0.08 per share a year ago, indicating a year-over-year growth in earnings despite the earnings surprise of -14.29% [1][2] Financial Performance - The company posted revenues of $60.7 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.54% and showing an increase from $56.59 million in the same quarter last year [2] - Over the last four quarters, Kornit Digital has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Performance - Kornit Digital shares have declined approximately 5.8% since the beginning of the year, contrasting with the S&P 500's gain of 3.2% [3] - The current consensus EPS estimate for the upcoming quarter is $0.01 on revenues of $47.3 million, while for the current fiscal year, it is $0.36 on revenues of $225.61 million [7] Industry Outlook - The Commercial Printing industry, to which Kornit Digital belongs, is currently ranked in the top 12% of over 250 Zacks industries, suggesting a favorable outlook for the sector [8]

Investor Contact: Fourth Quarter 2024 Results of Operations Full Year 2024 Results of Operations Jared Maymon Global Head of Investor Relations Jared.Maymon@Kornit.com Kornit Digital Reports Fourth Quarter and Full Year 2024 Results Rosh-Ha'Ayin, Israel – February 12, 2024 – Kornit Digital Ltd. ("Kornit" or the "Company") (Nasdaq: KRNT), a global leader in sustainable, on-demand, digital fashion and textile production technologies, today reported its results for the fourth quarter and full year ended Decemb ...

Core Insights - Kornit Digital Ltd. reported strong performance in Q4 2024, driven by a successful peak season and increased customer engagement, particularly with the Apollo platform [2][5] - The company achieved positive EBITDA and strong cash flow from operations for both Q4 and the full year 2024, setting the stage for profitable growth in 2025 [5][12] - Kornit aims to translate its foundational achievements in 2024 into scalable and profitable growth in 2025, focusing on market leadership and innovation [2][5] Q4 2024 Results - Q4 2024 revenues reached $60.7 million, up from $56.6 million in Q4 2023, primarily due to growth in product revenue [6][22] - GAAP net income for Q4 2024 was $2.2 million, a significant improvement from a net loss of $22.9 million in Q4 2023 [6][21] - Non-GAAP net income for Q4 2024 was $8.7 million, compared to $3.8 million in Q4 2023 [6][21] - Adjusted EBITDA for Q4 2024 was $8.4 million, with an adjusted EBITDA margin of 13.8%, compared to $0.2 million and 0.3% in Q4 2023 [6][31] Full Year 2024 Results - Total revenue for the full year 2024 was $203.8 million, down from $219.8 million in 2023, mainly due to lower systems revenue [6][12] - GAAP gross profit margin for the full year 2024 was 45.0%, up from 30.5% in the prior year [6][12] - Non-GAAP gross profit margin for the full year 2024 was 48.6%, compared to 38.4% in 2023 [6][12] - GAAP net loss for the full year 2024 was $16.8 million, significantly improved from a net loss of $64.4 million in 2023 [12][21] First Quarter 2025 Guidance - For Q1 2025, Kornit expects revenues to be between $45.5 million and $49.5 million, with an adjusted EBITDA margin projected between -9% and -4% [7]

Core Viewpoint - Kornit Digital Ltd. is set to release its financial results for Q4 and the full year ended December 31, 2024, on February 12, 2025, prior to market opening [1]. Financial Results Announcement - The financial results will be discussed in an earnings conference call and webcast on February 12 at 8:30 am ET, accessible via Kornit's website [2]. - Live call dial-in numbers are provided for participants, including a toll-free option for Israel [2][3]. - A replay of the call will be available on the company's website and through dial-in options for a limited time after the live call [3]. Company Overview - Kornit Digital is a global leader in sustainable, on-demand digital fashion and textile production technologies, offering comprehensive solutions including digital printing systems, inks, consumables, software, and fulfillment services [4]. - The company operates globally, serving customers in over 100 countries, with headquarters in Israel and offices in the USA, Europe, and Asia Pacific [4].