I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for Pric ...

Core Viewpoint - Kornit Digital reported quarterly earnings of $0.11 per share, exceeding the Zacks Consensus Estimate of $0.08 per share, and showing a significant improvement from a loss of $0.07 per share a year ago [1] Financial Performance - The company achieved revenues of $50.73 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 3.12%, although this represents a decline from $59.22 million in the same quarter last year [2] - Kornit Digital has surpassed consensus EPS estimates in all four of the last quarters [2] Stock Performance - Kornit Digital shares have increased approximately 26.5% since the beginning of the year, outperforming the S&P 500's gain of 21.2% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations for it to outperform the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.17 on revenues of $57.12 million, and for the current fiscal year, it is $0.16 on revenues of $198.71 million [7] - The trend of estimate revisions for Kornit Digital has been favorable leading up to the earnings release [6] Industry Context - The Commercial Printing industry, to which Kornit Digital belongs, is currently ranked in the top 6% of over 250 Zacks industries, suggesting a strong performance potential [8]

[Executive Summary & Business Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Business%20Highlights) This section provides an overview of Kornit Digital's third-quarter 2024 performance, strategic direction, and company profile [Third Quarter 2024 Key Highlights](index=1&type=section&id=Third%20Quarter%202024%20Results) Kornit Digital reported Q3 revenues of **$50.7 million**, a GAAP net loss of **$0.9 million**, and a non-GAAP net income of **$5.5 million**, demonstrating improved margins and adjusted EBITDA profitability Q3 2024 Financial Metrics | Metric | Q3 2024 | Q3 2023 | Change (YoY) | | :----- | :------ | :------ | :----------- | | Revenues | $50.7 million | $59.2 million | -14.3% | | GAAP Net Loss | $0.9 million | $8.2 million | Improved | | Non-GAAP Net Income (Loss) | $5.5 million | ($3.4 million) | Improved | | Non-GAAP Gross Margin | 50.3% | 37.4% | +12.9 pp | | Adjusted EBITDA | $1.5 million | ($5.6 million) | Improved | | Adjusted EBITDA Margin | 2.9% | -9.5% | +12.4 pp | - Continued positive cash generation from operations[3](index=3&type=chunk) - Industry-leading platforms, Apollo and Atlas MAX, continue to gain adoption among screen-replacement customers, driven by the new AIC model[3](index=3&type=chunk) [CEO Commentary and Strategic Direction](index=1&type=section&id=CEO%20Commentary) CEO Ronen Samuel highlighted Q3 operational progress, including gross margin expansion and return to adjusted EBITDA profitability, driven by successful product adoption and a revamped go-to-market strategy - Achieved gross margin expansion, returned to adjusted EBITDA profitability, and maintained positive cash generation as planned[4](index=4&type=chunk) - Apollo and MAX-powered products combined with revamped go-to-market and All-Inclusive-Click (AIC) model are expanding the serviceable market[5](index=5&type=chunk) - Announced new customers (Print Palace, Custom Ink) shifting production from screen to digital-direct-to-garment, and core customers (Monster Digital, Mad Engine Global, DO Apparel) expanding their on-demand digital production fleets[5](index=5&type=chunk) - Entering 2025 with the right products and model, focused on executing the plan laid out at the September Investor Event[5](index=5&type=chunk) [About Kornit Digital](index=2&type=section&id=About%20Kornit%20Digital) Kornit Digital is a global leader in sustainable, on-demand digital fashion and textile production, offering end-to-end solutions and serving customers in over 100 countries - Worldwide market leader in sustainable, on-demand, digital fashion, and textile production technologies[12](index=12&type=chunk) - Offers end-to-end solutions: digital printing systems, inks, consumables, software, and fulfillment services through a global network[12](index=12&type=chunk) - Headquartered in Israel with offices in USA, Europe, and Asia Pacific, serving customers in over 100 countries[12](index=12&type=chunk) [Third Quarter 2024 Financial Performance](index=2&type=section&id=Third%20Quarter%202024%20Financial%20Performance) This section provides a detailed analysis of Kornit Digital's GAAP and non-GAAP financial results for Q3 2024, including statements of operations, balance sheets, and cash flows [GAAP Financial Results](index=2&type=section&id=GAAP%20Financial%20Results) This section details Kornit Digital's financial performance for the third quarter and first nine months of 2024 under Generally Accepted Accounting Principles (GAAP), presenting the consolidated statements of operations, balance sheets, and cash flows [Consolidated Statements of Operations (GAAP)](index=5&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) Q3 2024 total revenues decreased to **$50.7 million**, while gross profit increased to **$24.2 million**, and GAAP net loss significantly narrowed to **$0.9 million** from **$8.2 million** year-over-year Consolidated Statements of Operations (USD in thousands) | Metric (USD in thousands) | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 | | :------------------------ | :------ | :------ | :------ | :------ | | Total Revenues | 50,732 | 59,224 | 143,129 | 163,201 | | Products Revenues | 36,996 | 45,486 | 100,375 | 117,472 | | Services Revenues | 13,736 | 13,738 | 42,754 | 45,729 | | Gross Profit | 24,210 | 20,620 | 60,633 | 52,385 | | Operating Loss | (7,123) | (14,658) | (36,105) | (59,712) | | Net Loss | (908) | (8,161) | (19,016) | (41,417) | | Basic Loss Per Share | (0.02) | (0.17) | (0.40) | (0.84) | | Diluted Loss Per Share | (0.02) | (0.17) | (0.40) | (0.84) | - Total revenue for Q3 2024 was **$50.7 million**, a decrease from **$59.2 million** in the prior year, primarily due to lower systems revenues[6](index=6&type=chunk)[23](index=23&type=chunk) - GAAP gross profit margin for Q3 2024 was **47.7%**, a significant improvement from **34.8%** in Q3 2023[6](index=6&type=chunk) [Consolidated Balance Sheets (GAAP)](index=4&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) As of September 30, 2024, total assets were **$850.8 million**, with increased current assets driven by cash and marketable securities, and a reduction in total liabilities Consolidated Balance Sheets (USD in thousands) | Metric (USD in thousands) | Sep 30, 2024 (Unaudited) | Dec 31, 2023 (Audited) | | :------------------------ | :----------------------- | :--------------------- | | Total Assets | 850,791 | 865,580 | | Current Assets | 669,178 | 522,387 | | Cash and cash equivalents | 113,861 | 39,605 | | Marketable securities (current) | 217,949 | 57,292 | | Long-Term Assets | 181,613 | 343,193 | | Marketable securities (long-term) | 59,910 | 223,203 | | Total Liabilities | 57,286 | 69,913 | | Shareholders' Equity | 793,505 | 795,667 | [Consolidated Statements of Cash Flows (GAAP)](index=8&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) Net cash provided by operating activities significantly improved to **$13.6 million** in Q3 2024, contributing to a **$91.3 million** increase in cash and cash equivalents during the quarter Consolidated Statements of Cash Flows (USD in thousands) | Metric (USD in thousands) | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 | | :------------------------ | :------ | :------ | :------ | :------ | | Net Cash Provided by (Used in) Operating Activities | 13,554 | (7,728) | 22,062 | (37,276) | | Net Cash Provided by (Used in) Investing Activities | 77,966 | (1,556) | 62,201 | 45,877 | | Net Cash Used in Financing Activities | (181) | (15,750) | (10,007) | (36,910) | | Increase (Decrease) in Cash and Cash Equivalents | 91,339 | (25,034) | 74,256 | (28,309) | | Cash and Cash Equivalents at End of Period | 113,861 | 76,288 | 113,861 | 76,288 | [Non-GAAP Financial Results and Reconciliations](index=3&type=section&id=Non-GAAP%20Financial%20Results%20and%20Reconciliations) This section presents Kornit Digital's financial performance adjusted for specific non-cash and non-recurring items, offering a clearer view of core operational results [Non-GAAP Financial Measures Disclosure](index=3&type=section&id=Non-GAAP%20Discussion%20Disclosure) Kornit Digital uses non-GAAP measures, including Adjusted EBITDA, to exclude specific non-cash and non-recurring items, providing a clearer view of core operational performance for management and investors - Non-GAAP measures exclude share-based compensation, amortization of intangible assets, restructuring expenses, foreign exchange differences (ASC 842), and non-cash deferred tax income[15](index=15&type=chunk) - Adjusted EBITDA is defined as non-GAAP operating income (loss) excluding depreciation expense[16](index=16&type=chunk) - Purpose is to convey performance exclusive of non-cash charges and other items outside core operating results, used for planning, forecasting, and internal evaluation[17](index=17&type=chunk) [Reconciliation of GAAP to Non-GAAP Statements of Operations](index=6&type=section&id=RECONCILIATION%20OF%20GAAP%20TO%20NON-GAAP%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) Q3 2024 non-GAAP gross profit increased to **$25.5 million**, with operating expenses decreasing by **14%**, resulting in a non-GAAP net income of **$5.5 million** or **$0.11** per diluted share Reconciliation of GAAP to Non-GAAP Consolidated Statements of Operations (USD in thousands) | Metric (USD in thousands) | Q3 2024 (Non-GAAP) | Q3 2023 (Non-GAAP) | 9M 2024 (Non-GAAP) | 9M 2023 (Non-GAAP) | | :------------------------ | :----------------- | :----------------- | :----------------- | :----------------- | | Non-GAAP Cost of Revenues | 25,207 | 37,078 | 77,554 | 106,332 | | Non-GAAP Gross Profit | 25,525 | 22,146 | 65,575 | 56,869 | | Non-GAAP Operating Expenses | 26,815 | 31,111 | 81,835 | 97,612 | | Non-GAAP Net Income (Loss) | 5,539 | (3,427) | 1,386 | (24,227) | | Non-GAAP Diluted EPS | 0.11 | (0.07) | 0.03 | (0.49) | - Non-GAAP operating expenses decreased by **14%** to **$26.8 million** in Q3 2024 compared to the prior year period[7](index=7&type=chunk) [Reconciliation of GAAP Net Income to Adjusted EBITDA](index=10&type=section&id=RECONCILIATION%20OF%20GAAP%20NET%20INCOME%20TO%20ADJUSTED%20EBITDA) Kornit Digital achieved an Adjusted EBITDA of **$1.5 million** in Q3 2024, a significant turnaround from a **$5.6 million** loss in Q3 2023, with the margin improving to **2.9%** Reconciliation of GAAP Net Income to Adjusted EBITDA (USD in thousands) | Metric (USD in thousands) | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 | | :------------------------ | :------ | :------ | :------ | :------ | | GAAP Net Loss | (908) | (8,161) | (19,016) | (41,417) | | Non-GAAP Operating Loss | (1,290) | (8,965) | (16,260) | (40,743) | | Adjusted EBITDA | 1,451 | (5,623) | (8,028) | (31,060) | - Adjusted EBITDA margin for Q3 2024 was **2.9%**, a significant improvement from **-9.5%** for Q3 2023[8](index=8&type=chunk) [Financial Outlook](index=2&type=section&id=Financial%20Outlook) This section provides Kornit Digital's financial guidance for the fourth quarter of 2024, including projected revenues and adjusted EBITDA margin [Fourth Quarter 2024 Guidance](index=2&type=section&id=Fourth%20Quarter%202024%20Guidance) For Q4 2024, Kornit Digital projects revenues between **$58 million** and **$63 million**, with an adjusted EBITDA margin of **12% to 16%** Q4 2024 Guidance | Metric | Q4 2024 Guidance | | :----- | :--------------- | | Revenues | $58 million to $63 million | | Adjusted EBITDA Margin | 12% to 16% | [Additional Information](index=2&type=section&id=Additional%20Information) This section provides details on the earnings conference call and important disclosures regarding forward-looking statements [Earnings Conference Call Information](index=2&type=section&id=Third%20Quarter%20Earnings%20Conference%20Call%20Information) Kornit Digital held a conference call on November 6, 2024, to discuss Q3 results, with a webcast and telephonic replay available for access - Conference call held on November 6, 2024, at 8:30 a.m. ET to discuss results[10](index=10&type=chunk) - Live webcast accessible at ir.kornit.com; telephonic replay available until November 20, 2024[10](index=10&type=chunk)[11](index=11&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward%20Looking%20Statements) This section outlines forward-looking statements, emphasizing their reliance on management's assumptions and inherent susceptibility to various risks and uncertainties - Forward-looking statements are characterized by terms like 'will,' 'expects,' 'anticipates,' and are not guarantees of future performance[14](index=14&type=chunk) - Based on management's assumptions and perceptions of historical trends, current conditions, and future developments[14](index=14&type=chunk) - Subject to risks and uncertainties, including adverse macro-economic headwinds, success of new products (Poly Pro, Presto, Apollo), ability to consummate large sales, and competition[14](index=14&type=chunk)

Third quarter revenues of $50.7 million, in line with previous guidanceThird quarter GAAP net loss of $0.9 million; non-GAAP net income of $5.5 millionContinued positive cash generation from operationsSignificant year-over-year improvement in non-GAAP gross margin and return to adjusted EBITDA profitabilityIndustry-leading platforms, Apollo and Atlas MAX, continue to gain adoption among screen-replacement customers, driven by the new AIC model ROSH-HA`AYIN, Israel, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Kornit D ...

ROSH-HA`AYIN, Israel, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Kornit Digital Ltd. (“Kornit” or the “Company”) (Nasdaq: KRNT), a global leader in sustainable, on-demand digital fashion and textile production technologies, announced today that it will release its financial results for the third quarter ended September 30, 2024 on Wednesday, November 6, prior to the market open. The Company will host an earnings conference call and webcast reviewing these results and its operations on Wednesday, November 6 at 8:30 a ...

The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Kornit Digital (KRNT) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question.Kornit Digital is one of 212 individual stocks in the Industrial Products sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. The Zacks Sect ...

Apparel producer servicing major online retailers further drives analog to digital transformation with adoption of the Kornit Apollo automated, direct-to-garment platform Expanded use of Kornit MAX technology solidifies Hybrid Digital's commitment to high quality digital production, while fulfilling the rapid time-to-market needs of its selling partners ROSH-HA`AYIN, Israel, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Kornit Digital LTD. (NASDAQ: KRNT) ("Kornit" or the "Company"), a worldwide market leader in sustain ...

Kornit Digital Ltd. (KRNT) shares ended the last trading session 5% higher at $26.45. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 34.6% gain over the past four weeks. Kornit Digital's rally is primarily driven by optimism regarding Monster Digital's plans to expand its digital production. Monster Digital will be adding 10 Kornit Apollo systems in 2025, highlighting a major shift from traditional screen printing ...

On demand manufacturer serves the world's largest global brands, retailers and e-commerce platforms Operates three locations, nearshore and onshore, running 24/7, promoting new product delivery and replenishments anywhere in the US within 1-3 days after receiving an order Significant investment in Kornit Apollo fleet is a continued step in company's digital transformation, shifting millions of bulk production impressions from screen to digital ROSH-HA`AYIN, Israel, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Kornit ...

On-demand, medium-runs production enables company to deliver custom apparel for large sports organizations while seamlessly switching designed team logos, names, and numbers Second purchase of Kornit's Atlas MAX POLY allows DO Apparel to leverage a faster, cost-effective solution for digital production of sportswear and teamwear – more effectively than screen printing ROSH-HA`AYIN, Israel, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Kornit Digital LTD. (NASDAQ: KRNT) ("Kornit" or the "Company"), a worldwide market l ...