Kornit Digital Reports Fourth Quarter and Full Year 2024 Results

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$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]