Welcome to our dedicated page for Kornit Digital Ltd. news (Ticker: KRNT), a resource for investors and traders seeking the latest updates and insights on Kornit Digital Ltd. stock.
Kornit Digital Ltd. (symbol: KRNT) is a pioneering force in the global textile printing industry. Established in 2003, the company develops, manufactures, and markets innovative industrial and commercial solutions for the garment, apparel, and fabric sectors. With a strong commitment to digital textile printing, Kornit Digital leads the market with its integrated pretreatment solutions and unique NeoPigment™ inks, addressing the diverse needs of both designers and manufacturers.
Kornit's expertise in direct-to-garment (DTG) printing is revolutionizing the roll fabric industry by enabling high-quality printing on various fabric types using a single ink set. The company offers a wide range of digital printing systems, inks, consumables, software, and value-added services that facilitate large-scale printing of intricate designs directly onto finished garments and fabrics. This comprehensive approach not only enhances efficiency but also supports sustainability by reducing inventories and promoting nearshore production.
Headquartered in Israel with offices across the United States, Asia-Pacific, Europe, and India, Kornit Digital serves customers in over 100 countries. The U.S. remains the primary revenue source, underscoring the company's significant presence in the region. Kornit Digital's solutions are designed to reduce time-to-market, improve production capabilities, and foster eco-friendly practices within the textile industry.
Recent achievements include the expansion of their product lines and the establishment of strategic partnerships aimed at enhancing their technological offerings. Kornit continues to innovate, ensuring they meet the evolving demands of the textile printing market. The company’s financial health remains robust, driven by consistent revenue from system sales, consumables, and service subscriptions.
Stay updated with Kornit Digital's latest news and developments by joining the Kornit-Digital group or visiting their website at www.kornit.com.
Kornit Digital has partnered with Argentinian apparel brand Kevingston to implement the Kornit Presto S system for direct-to-fabric printing, enhancing production efficiency. This development follows Kevingston's successful use of the Kornit Avalanche HD6 for on-demand garment production. With 140 stores in Argentina, Kevingston aims to adapt quickly to consumer trends and minimize unsold inventory, leveraging Kornit's eco-friendly NeoPigment inks. This collaboration highlights the shift towards agile, demand-driven production in the textile industry.
Kornit Digital (NASDAQ: KRNT) announced its participation in the Barclays Global Technology, Media and Telecommunications Conference on December 9, 2020. The company will present virtually at 9:00 am ET, with a live audio webcast available on its investor relations website. Kornit Digital specializes in industrial digital printing technologies for the textile industry, offering innovative solutions like the eco-friendly NeoPigment printing process and services for on-demand production. Founded in 2002, Kornit serves over 100 countries worldwide.
Kornit Digital (NASDAQ: KRNT) has announced the formation of a new business line aimed at accelerating digital transformation in the textile industry. Guy Avidan will lead this initiative, having been appointed as President. Alon Rozner is set to take over as CFO starting December 1, 2020, bringing over 20 years of financial management experience. This strategic move comes in response to the growing demand for on-demand sustainable textile production, leveraging Kornit's recent acquisition of Custom Gateway. The company aims to connect brands and retailers to effective production and logistics operations.
Kornit Digital reported strong third quarter results with revenue of $57.4 million, reflecting a 21.4% year-over-year increase. The GAAP operating profit was $2.7 million, while non-GAAP operating profit was $6.5 million. The company achieved sustainable services profitability one quarter ahead of schedule, showcasing strong operating leverage and innovation investments. CFO Guy Avidan raised the second-half revenue outlook to 25% growth, driven by increased demand in e-commerce and upcoming holiday production.
Kornit Digital (Nasdaq: KRNT) will announce its third-quarter earnings results for the period ended September 30, 2020, on November 10, 2020, post-market close. A conference call will follow at 5:00 PM ET, providing insights into the company's financial performance. Kornit specializes in industrial digital printing technologies for the garment and textile sectors, offering innovative solutions like its eco-friendly NeoPigment process. With a global presence and strong focus on on-demand and mass customization printing, Kornit is positioned to cater to evolving market demands.
Kornit Digital Ltd. (NASDAQ: KRNT) announced an upsized public offering of 4,078,210 ordinary shares priced at $56.50 each. Kornit will issue 2,388,268 shares while an affiliate of Amazon will offer 1,689,942 shares due to a warrant exercise. The offering, which includes an option for underwriters to purchase an additional 611,731 shares, is expected to close on September 21, 2020. Proceeds will fund potential acquisitions and general corporate purposes, with no current acquisition plans in place.
Kornit Digital Ltd. (NASDAQ: KRNT) announced a public offering of 3,600,000 ordinary shares, with 2,000,000 shares offered by Kornit and 1,600,000 by an Amazon affiliate. Kornit will not receive proceeds from Amazon's shares, which are from a warrant exercise. The company plans to utilize the offering's proceeds for future acquisitions and general corporate purposes, though no specific agreements are in place currently. Citigroup, Barclays, and Goldman Sachs & Co. LLC are the bookrunners for this offering.
Kornit Digital (Nasdaq: KRNT) announced that CEO Ronen Samuel and CFO Guy Avidan will present and host one-on-one investor meetings at the Citi 2020 Global Technology Conference on September 10, 2020, at 9:50 am ET. This virtual presentation will be accessible via live audio webcast and archived replay on Kornit's investor relations website. Kornit specializes in digital textile printing technology, offering comprehensive solutions for garment and textile industries, and is known for its eco-friendly NeoPigment printing process.
Kornit Digital (Nasdaq: KRNT), a leader in digital textile printing, will hold a virtual fireside chat on August 18, 2020, from 10:30 AM to 12:00 PM ET, discussing its recent acquisition of Custom Gateway. Key executives, including CEO Ronen Samuel, will participate. Interested parties can join via a Zoom meeting or by dialing in. An archived replay will be available on Kornit’s Investor Relations website shortly after the event. Kornit Digital specializes in eco-friendly digital printing solutions for the textile industry and serves customers in over 100 countries.
Kornit Digital (Nasdaq: KRNT) announced the acquisition of Custom Gateway, enhancing its cloud-based software workflow capabilities for on-demand textile production. This strategic move aims to revolutionize the industry by providing an end-to-end solution that increases efficiency and profitability. Custom Gateway's platform, utilized by over 300 global clients, integrates order management and production processes, enhancing Kornit's existing Konnect platform. The acquisition positions Kornit favorably in the fast-evolving on-demand market, offering brands the ability to pivot quickly in response to market needs.
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