Kornit Digital(US:KRNT)2022-11-09 18:21Third Quarter 2022 Results - Total revenues were $66.8 million, after accounting for a $5.6 million non-cash impact from warrants[10] - Consumables revenues showed strong growth compared to both the second quarter and the previous year[10] - Services revenues also increased from Q2 2022 and year-over-year, driven by a major fleet upgrade to Atlas MAX for a large strategic customer[10] Operating Environment & Future Outlook - Macroeconomic headwinds, including inflation and rising interest rates, are impacting customers and prospects, leading to longer sales cycles and increased demand for financing options[11] - The company expects systems revenues to remain challenging in the coming quarters, but this will be balanced by healthy growth in consumables and service revenues[13] - Systems revenues in 2023 are anticipated to build up more linearly, starting in the second quarter and heading into the peak season[13] Financial Highlights - Non-GAAP operating expenses decreased by approximately 10% from $40.7 million in Q2 2022 to $36.7 million in Q3 2022[21] - Q3 2022 cash used in operating activities was approximately $5.1 million[24] - The company's cash balance, including bank deposits and marketable securities, was approximately $689.8 million at the end of Q3 2022[24] Q4 2022 Guidance - The company expects Q4 2022 revenues to be in the range of $66 million to $70 million[27] - Non-GAAP operating margins for Q4 2022 are expected to be in the range of -6% to -10% of revenue[27]