Financial Data and Key Metrics - Q4 2023 revenue was $56 6 million within the guidance range with double-digit year-over-year growth in consumable sales offset by a decline in systems and services sales [43] - Full-year 2023 revenue was $219 8 million compared to $271 5 million in 2022 primarily due to lower system sales [76] - Q4 2023 non-GAAP gross margin improved to 48 6% from 36 4% in the same period last year driven by higher-margin consumables [70] - Full-year 2023 non-GAAP gross margin was 38 4% slightly up from 38 2% in 2022 due to higher consumables volumes and ASPs and growth in services [44] - Q4 2023 adjusted EBITDA margin was 0 3% at the high end of guidance marking an improvement year-over-year and sequentially [59] - Full-year 2023 adjusted EBITDA loss was $30 9 million with a margin of -14% compared to -11 3% in 2022 due to lower revenues [59] - Q1 2024 revenue guidance is $43-48 million with adjusted EBITDA margin expected to be -16% to -26% [3] - The company expects modest revenue growth and adjusted EBITDA profitability for full-year 2024 [75] Business Line Data and Key Metrics - Consumables sales showed double-digit year-over-year growth in Q4 2023 indicating improved system utilization [66] - System sales were weak in Q4 2023 mainly due to the macro environment [38] - Service revenue grew strongly in 2023 and is expected to continue growing in 2024 [38] - The Apollo platform represents a new incremental market in bulk apparel production with strong customer interest and a robust pipeline for 2024 and beyond [78][79] - The company is piloting a new recurring revenue model for the Apollo platform shifting from CapEx to OpEx which is expected to generate around $1 million per system per year [41][15] Market Data and Key Metrics - The direct-to-fabric market represents a significant long-term growth opportunity especially with global brands and retailers moving to sustainable production [20] - The company has expanded into new geographies such as India Latin America and other key textile production hubs [19] - The MAX technology has become the industry standard for quality with strong customer adoption and upgrades [39] - The company is seeing growth in new market segments such as bulk apparel athleisure fashion home decor technical and footwear [19] Company Strategy and Industry Competition - The company is focused on transitioning the market from analog to digital production with innovative solutions like the Apollo platform and MAX technology [57] - Key objectives include strengthening the product portfolio broadening applications diversifying the customer base and optimizing the operating model [63] - The company is leveraging its cash position for organic and inorganic growth opportunities including share repurchases and potential M&A [26] - The recurring revenue model for the Apollo platform is expected to create more predictability and visibility for both the company and its customers [15] Management Commentary on Operating Environment and Future Outlook - The consumer environment remains uncertain impacting customer purchasing appetite and visibility [2] - The company expects a challenging macro environment in 2024 similar to 2023 [2] - Despite macroeconomic headwinds the company is focused on returning to profitability and cash flow generation in 2024 [69] - The company sees strong potential for growth in the direct-to-fabric market and is investing in new technologies and business models to capture this opportunity [20][41] Other Important Information - The company took a $19 1 million restructuring charge in Q4 2023 to align its cost structure with revenue expectations and enable operating leverage [45] - The restructuring plan is expected to save approximately $20 million in operating expenses in 2024 [16] - The company repurchased 2 7 million shares in 2023 spending $55 8 million and plans to continue repurchasing shares in Q1 2024 [46] - The company has a strong cash position with $556 million in cash and marketable securities at the end of Q4 2023 [65] Q&A Session Summary Question: Can you confirm if the beta units for Apollo will be recognized as revenue in Q1? [5] - Answer: Revenue recognition for the Apollo beta units will be split over the years with the recurring revenue model and some revenue will be recognized in Q1 [85] Question: What is the outlook for Apollo's contribution in 2024? [5] - Answer: Apollo is expected to contribute meaningfully in 2024 with more revenue skewed towards the second half of the year [29][103] Question: What is the update on Atlas MAX upgrades? [7] - Answer: The company had a strong year for MAX upgrades in 2023 and expects continued upgrades in 2024 with the introduction of the Atlas MAX plus [7][8] Question: What is the catalyst for unlocking customer spending? [94] - Answer: The recurring revenue model and the need for sustainable production are key catalysts for unlocking customer spending [94][95] Question: What is the outlook for 2024 revenue growth? [97] - Answer: The company expects modest revenue growth in 2024 driven by ink services and systems with higher visibility on ink and services [113] Question: What is the potential for the recurring revenue model in other products? [114] - Answer: The company is starting with the Apollo platform and will consider leveraging the model to other products and segments if successful [114]

Investor Contact: Jared Maymon Global Head of Investor Relations Jared.Maymon@Kornit.com Kornit Digital Reports Fourth Quarter and Full Year 2023 Results Rosh-Ha'Ayin, Israel – February 14, 2024 – Kornit Digital Ltd. ("Kornit" or the "Company") (Nasdaq: KRNT), a worldwide market leader in sustainable, on-demand, digital fashion and textile production technologies, reported today its results for the fourth quarter and full year ended December 31, 2023. "We experienced a healthy peak season, with year-over-ye ...

Earnings Conference Call Supporting Slides November 8, 2023 CEO 2 ©2023 Kornit Digital. All rights reserved. UPDATE ON SITUATION IN ISRAEL 6 • Selling to new customers in key growth regions, including LATAM & APAC ©2023 Kornit Digital. All rights reserved. 5 • System sales improved sequentially as we continued to convert orders from ITMA • Continued to focus on: • Building a good pipeline of existing and new customers ©2023 Kornit Digital. All rights reserved. CONTINUED PROGRESS TOWARDS APPROACHING BREAKEVE ...

Investor Contact: Jared Maymon Global Head of Investor Relations jared.maymon@kornit.com Kornit Digital Reports Third Quarter 2023 Results Rosh-Ha`Ayin, Israel – November 8, 2023 – Kornit Digital Ltd. ("Kornit" or the "Company") (Nasdaq: KRNT), a worldwide market leader in sustainable, on-demand, digital fashion and textile production technologies, reported today its results for the third quarter ended September 30, 2023. "We delivered third quarter revenues within our guidance range, despite a challenging ...

Kornit Digital Ltd. (NASDAQ:KRNT) Q3 2023 Earnings Conference Call November 8, 2023 8:30 AM ET Company Participants Jared Maymon – Global Head-Investor Relations Ronen Samuel – Chief Executive Officer Lauri Hanover – Chief Financial Officer Amir Shaked-Mandel – Executive Vice President-Corporate Development Conference Call Participants Greg Palm – Craig-Hallum Capital Group Brian Drab – William Blair Tavy Rosner – Barclays Erik Woodring – Morgan Stanley Chris Moore – CJS Securities Chris Grenga – Needham O ...

Kornit Digital Ltd. (NASDAQ:KRNT) Q2 2023 Earnings Conference Call August 9, 2023 8:30 AM ET Company Participants Andrew Backman - Global Head of Investor Relations Ronen Samuel - CEO Lauri Hanover - CFO Conference Call Participants Erik Woodring - Morgan Stanley Brian Drab - William Blair & Company Tavy Rosner - Barclays Derek Palm - Craig Hallum Chris Moore - CJS Securities Operator Greetings, and welcome to Kornit Digital's Second Quarter 2023 Earnings Conference Call. As a reminder, this call is being r ...

Investor Contact: Andrew G. Backman Global Head of Investor Relations andrew.backman@kornit.com Kornit Digital Reports Second Quarter 2023 Results Rosh-Ha'Ayin, Israel – August 9, 2023 – Kornit Digital Ltd. ("Kornit" or "the Company") (Nasdaq: KRNT), a worldwide market leader in sustainable, on-demand, digital fashion and textile production technologies, reported today its results for the second quarter ended June 30, 2023. "During the quarter, impressions grew at a double-digit pace year-over-year for the ...

KORNIT DIGITAL (NASDAQ: KRNT) Second Quarter 2023 ON TODAY'S CALL Amir Shaked Mandel EVP Corp Dev SAFE HARBOR Kornit, Kornit Digital, the K logo, and NeoPigment are trademarks of Kornit Digital Ltd. All other trademarks are the property of their respective owners and are used for reference purposes only. Such use should not be construed as an endorsement of our products or services. BUSINESS 4 ©2023 Kornit Digital. All rights reserved. • As a reminder, revenues include the impact from the fair value of issu ...

Investor Contact: Andrew G. Backman Global Head of Investor Relations andrew.backman@kornit.com Kornit Digital Reports First Quarter 2023 Results Rosh-Ha'Ayin, Israel – May 10, 2023 – Kornit Digital Ltd. ("Kornit" or "the Company") (Nasdaq: KRNT), a worldwide market leader in sustainable, on-demand, digital fashion and textile production technologies, reported today its results for the first quarter ended March 31, 2023. "Promising indicators emerged during the first quarter in certain parts of our business ...

Kornit Digital Ltd. (NASDAQ:KRNT) Q1 2023 Earnings Conference Call May 10, 2023 8:30 AM ET Company Participants Andrew G. Backman - Global Head of Investor Relations Ronen Samuel - Chief Executive Officer Lauri Hanover - Chief Financial Officer Conference Call Participants Tavy Rosner - Barclays Erik Woodring - Morgan Stanley Chris Moore - CJS Securities Jared Maymon - Berenberg Capital Markets Danny Eggerichs - Craig-Hallum Operator Greetings, and welcome to Kornit Digital's First Quarter 2023 Earnings Con ...