Kornit Digital Ltd. - KRNT STOCK NEWS

Kornit Digital (NASDAQ: KRNT) announced that Custom Ink, the online leader for custom wearables, has chosen Kornit's technology to enhance its production capabilities. Custom Ink is shifting a significant volume from traditional screen printing to high-quality, sustainable on-demand digital production using Kornit MAX technology. This transition aims to support business growth, accelerate digital transition, and provide customers with premium-quality custom apparel and swag.

The partnership allows Custom Ink to improve production capabilities, reduce environmental impact, and maintain high-quality standards. Eric Stockl, COO at Custom Ink, emphasized the company's mission to bring people together through custom apparel and highlighted the adoption of Kornit's digital on-demand technology for faster, more accurate, and premium quality designs.

Kornit Digital (Nasdaq: KRNT), a leader in sustainable, on-demand digital fashion and textile production technologies, has announced a $100 million share repurchase program authorized by its Board of Directors. This program, combined with $65 million in repurchases since 2023, demonstrates the Board's confidence in Kornit's strategy and long-term potential. The repurchase may be executed through various methods, including open market purchases and privately negotiated transactions, in compliance with U.S. securities laws. The program is flexible, allowing for suspension or discontinuation at the Company's discretion. Implementation will begin after a 30-day creditor objection period, with timing and volume dependent on market conditions, financial results, and other factors. Kornit plans to fund repurchases with existing cash reserves.

Kornit Digital (NASDAQ: KRNT) is hosting its "Fashion is Choosing On-Demand" investor event, showcasing its market opportunities and long-term financial goals. The company is leading the digital transformation of the textile industry with solutions addressing the need for agility in fashion supply chains. Key highlights include:

1. Accelerating shift from analog to on-demand digital production
2. All-Inclusive Click (AIC) model moving beyond pilot phase
3. Long-term targets of double-digit revenue growth and improved profitability
4. Board approval of an additional $100 million share repurchase program

Kornit's technology, including MAX platforms and the new Apollo, enables efficient, high-quality production for both Direct-to-Garment and Roll-to-Roll production. The company's revamped go-to-market strategy focuses on end-to-end solutions and expansion into new segments.

Kornit Digital (Nasdaq: KRNT) has announced an Investor Event scheduled for September 10th, 2024 at the Westgate in Las Vegas, NV. This event coincides with the company's participation in the Printing United trade show. The event will provide insights into Kornit's recent business activities, go-to-market strategy, and capital allocation plans. It will feature panels with key customers and demand generators, as well as presentations from executive management team members including CEO Ronen Samuel and CFO Lauri Hanover.

The presentation will begin streaming live at 9:00 a.m. PT. In-person attendees will have the opportunity to tour the Printing United trade show and experience a demonstration of Kornit's Apollo system. Due to space limitations, in-person attendance is by invitation only. However, interested parties can tune in to a live webcast of the event through Kornit's investor relations page.

Kornit Digital (NASDAQ: KRNT) reported Q2 2024 results with revenues of $48.6 million, in line with previous guidance. The company saw GAAP net loss of $4.9 million and non-GAAP net income of $1.1 million. Notably, Kornit generated positive cash flow from operations and experienced year-over-year growth in both impressions and consumables.

The company's All-Inclusive Click (AIC) program and Apollo system continue to gain traction, with multiple orders added to the backlog. Kornit is also piloting the AIC model on the Atlas MAX system for screen replacement customers. For Q3 2024, Kornit expects revenues between $48-52 million and an adjusted EBITDA margin of 1-6%.

Kornit Digital (Nasdaq: KRNT), a leader in sustainable, on-demand digital fashion and textile production technologies, has announced its second quarter 2024 earnings release date. The company will disclose its financial results for the quarter ending June 30, 2024, on Wednesday, August 7, before the market opens. An earnings conference call and webcast will follow at 8:30 am ET on the same day.

Interested parties can access the live broadcast through Kornit's website in the 'Investors' section. For those unable to attend, a replay will be available on the company's website and via dial-in until August 21, 2024. This announcement provides investors and analysts with a clear timeline for accessing Kornit's latest financial performance data and insights into its operations.

Kornit Digital, a leader in digital fashion and textile production technologies, will be participating in the William Blair 44th Annual Growth Stock Conference on June 5, 2024. Representing the company will be CEO Ronen Samuel and Global Head of Investor Relations & Strategic Finance Jared Maymon. They will deliver a presentation at 10:20 am ET, which will be webcast live and available for replay on Kornit’s investor relations website.

Kornit Digital reported first quarter revenues of $43.8 million, meeting previous guidance. The company experienced a GAAP net loss of $13.2 million, with a non-GAAP net loss of $5.3 million. Kornit generated positive cash flow from operations and concluded the Apollo beta successfully with customers. They saw significant interest in the all-inclusive click model and are committed to transitioning to sustainable, on-demand digital production globally.

Kornit Digital announced the release of its financial results for the first quarter of 2024 on May 8, 2024. The company, a leader in sustainable digital fashion and textile production technologies, will host an earnings conference call and webcast to discuss the results and operations. Investors and interested parties can access the live call through Kornit's website. A replay will be available for those who miss the live call.