Kornit Digital Ltd. - KRNT STOCK NEWS

Kornit Digital reported Q3 2024 revenues of $50.7 million, down from $59.2 million year-over-year, primarily due to lower systems revenues. The company achieved a GAAP net loss of $0.9 million ($0.02 per share) and non-GAAP net income of $5.5 million ($0.11 per diluted share). Notable improvements include expanded gross margins, with GAAP gross margin at 47.7% and non-GAAP at 50.3%, and return to adjusted EBITDA profitability at $1.5 million. For Q4 2024, Kornit expects revenues between $58-63 million with adjusted EBITDA margin of 12-16%.

Kornit Digital (Nasdaq: KRNT), a global leader in sustainable, on-demand digital fashion and textile production technologies, has announced the release date for its third quarter 2024 financial results. The company will publish its earnings report on Wednesday, November 6, before the market opens.

Following the release, Kornit will host an earnings conference call and webcast on the same day at 8:30 am ET. Interested parties can access the live broadcast through Kornit's website at www.kornit.com in the 'Investors' section. For those who prefer to dial in, the following numbers are available:

• US/Canada Toll-Free: 1-877-407-0792
• International: 1-201-689-8263
• Israel: 1 809 406 247

A replay of the call will be archived on the company's website and will also be accessible via dial-in until November 20, 2024, at 11:59 pm ET.

Kornit Digital (NASDAQ: KRNT) announced that T-Shirt & Sons (TSS), a leading European apparel manufacturer, has adopted the Kornit Apollo platform to expand its digital production capabilities. This addition complements TSS's existing Kornit Atlas MAX systems, enabling the company to significantly increase production capacity by several million impressions annually.

TSS, which serves major e-commerce and retail brands, aims to streamline operations, improve speed, and enhance time-to-market while maintaining high-quality standards. The integration of Kornit's MAX technology and the Apollo platform optimizes TSS's production processes to meet the demands of the growing online market.

Adam Golder of TSS praised the Kornit Apollo as a game-changer in on-demand production, highlighting its exceptional results in speeding up time-to-market and optimizing production runs. Ronen Samuel, CEO of Kornit Digital, emphasized how manufacturers like TSS are transforming their operations to meet evolving market demands.

Kornit Digital (NASDAQ: KRNT) announced that Hybrid Digital, a division of Hybrid Apparel, is adding Kornit Apollo to its current Kornit Atlas MAX production lines. This expansion aims to further the company's screen-to-digital transformation, important for leveraging digital production as a competitive edge and meeting new customer expectations for rapid delivery.

Hybrid Digital, which partners with major retailers like Walmart, Target, and Kohl's, shifted from analog to digital production years ago to align with emerging production and delivery times demanded by online retail. The adoption of Kornit Apollo will enable Hybrid Digital to speed up production cycles, serve more customers faster, and fuel business growth.

Stephen Teglas, President of Hybrid Digital, emphasized their investment in technology to increase speed to market, improve inventory management, and provide quality products on demand. Ronen Samuel, CEO of Kornit Digital, highlighted the Apollo system as an industry game-changer, helping customers embrace on-demand, digital production.

Kornit Digital (NASDAQ: KRNT) announced that Monster Digital, a US leader in on-demand apparel manufacturing, is significantly expanding its digital production capacity with the addition of 10 Kornit Apollo systems during 2025. This expansion is part of Monster Digital's ongoing transition from screen printing to digital textile production.

Monster Digital, which serves major global brands, retailers, and e-commerce platforms, will implement the new systems through a mix of capital purchases and Kornit's new All-Inclusive Click (AIC) Model. This investment will allow the company to shift substantial bulk production from screen to digital, enabling them to capture new opportunities and better meet customer demands.

The expansion builds upon Monster Digital's existing fleet of 7 Apollo and 47 Kornit Atlas MAX systems, further solidifying their digital transformation strategy. The Kornit Apollo system has been praised for its game-changing capabilities in speed and quality, allowing Monster Digital to manage order flow more efficiently and provide an enhanced customer experience.

Kornit Digital (NASDAQ: KRNT) announced an expanded partnership with DO Apparel, a custom sports apparel company serving major league teams. DO Apparel has invested in a second Kornit Atlas MAX POLY system, embracing on-demand, digital production as a more effective alternative to screen printing for custom sports jerseys, uniforms, and t-shirts.

The Atlas MAX POLY system allows DO Apparel to seamlessly switch between fabrics and produce high-quality designs, including photorealistic images and 3D effects, on various polyester blends. This technology enables the company to efficiently handle medium-run orders of 500 to 1,000 pieces, addressing the unique requirements of custom sports apparel such as easily changing team logos, names, and numbers.

Kornit Digital (NASDAQ: KRNT) announced that Print Palace Textildruck, a leading German provider of music and event merchandise, is transitioning from screen printing to digital production using Kornit's Apollo system. This shift aims to streamline operations and meet medium-run production requirements more efficiently. Print Palace is adopting the Kornit Apollo production line to accelerate productivity and improve unit economics for runs up to 500 pieces, without compromising quality.

The transition is supported by Kornit's new All-Inclusive Click (AIC) model, allowing Print Palace to handle jobs more quickly and improve time-to-market. This move is in response to increasing demand for high-quality, vibrant colors, and unique designs in smaller quantities, which was causing bottlenecks in their screen production process.

Kornit Digital (NASDAQ: KRNT) announced that Mad Engine Global, a major licensed merchandise apparel company, is expanding its investment in Kornit's Apollo production lines and Atlas MAX fleet. This expansion aims to increase Mad Engine's on-demand digital production capacity, with additional investments planned for 2025.

Mad Engine Global, which offers exclusive apparel for brands like Disney and Marvel, is shifting from legacy screen-printing to digital production. This move capitalizes on the performance, unit economics, and quality of Kornit's technology. The company is adopting Kornit's All-Inclusive Click (AIC) Model, which improves predictability and decision-making for production capacity additions.

Kornit's CEO, Ronen Samuel, emphasized that the licensed apparel industry is at a critical inflection point, with screen printing no longer suitable for new market dynamics driven by accelerated customer demand and agile production requirements.

Kornit Digital (NASDAQ: KRNT) has partnered with OGAT - One Garment at a Time, a brand by Pixartprinting (part of Cimpress), to revolutionize fashion production. This collaboration combines Kornit's digital direct-to-fabric pigment printing technology with OGAT's comprehensive on-demand production workflow.

Key highlights:

• Enables fast turnaround from concept to final product
• Supports on-demand reordering and eliminates overstock
• Utilizes Kornit's Presto MAX for high-quality digital direct-to-fabric decoration
• Allows customization down to a single unit with no minimum orders
• Emphasizes sustainability in fashion production

The partnership aims to set new industry standards, challenging traditional mass production models with innovative, sustainable solutions.