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 reported a record fourth quarter revenue of $87.5 million, reflecting a 67% year-over-year growth to $322.0 million for the full year. The company achieved GAAP net income of $1.0 million for Q4 and $15.5 million for the full year. Non-GAAP net income for Q4 was $6.4 million and $36.1 million for 2021. Kornit anticipates strong operational growth and expects Q1 2022 revenue between $87 million and $91 million, pointing to a robust backlog and new product introductions.
Kornit Digital (Nasdaq: KRNT) will release its financial results for Q4 and the full year ended December 31, 2021, on February 15, 2022, before market opening. An earnings conference call will follow at 8:30 am ET, accessible via Kornit’s website. The company is a leader in sustainable digital fashion and textile production technologies, serving over 100 countries globally.
Kornit Digital Ltd. (NASDAQ: KRNT) recently inaugurated a new state-of-the-art ink manufacturing facility in Kiryat Gat, Israel. This 11,000-square-meter facility, built with a $25 million investment, is designed to meet growing global demand for Kornit's consumables over the next decade. The facility features advanced automation and innovative technologies aimed at optimizing production. CEO Ronen Samuel stated this milestone supports the company's goal of becoming a $1 billion entity by 2026 and emphasizes Kornit's commitment to sustainable practices in the textile industry.
Kornit Digital Ltd. (NASDAQ: KRNT) has announced its acquisition of Tesoma, a leader in textile curing solutions based in Lichtenau, Germany. This strategic move aims to enhance Kornit’s automation capabilities, promoting productivity and sustainability in on-demand textile production. CEO Ronen Samuel emphasized that this acquisition aligns with Kornit's mission to transform the fashion industry through innovative solutions. The deal is expected to close by April 1, 2022, contingent upon successful integration processes.
Kornit Digital (Nasdaq: KRNT) will participate in two upcoming virtual conferences. The 24th Annual Needham Growth Conference is set for January 10, 2022, with a fireside chat at 8:30 am ET. The CJS Annual New Ideas Conference will follow on January 12, 2022, at 10:15 am ET. Both sessions will be accessible via live audio webcast and archived on Kornit's investor relations website. Kornit is a leading provider of sustainable, on-demand digital textile production technologies, serving over 100 countries worldwide.
Kornit Digital (Nasdaq: KRNT), a leader in sustainable digital textile production, will participate in the Barclays Global Technology, Media and Telecommunications Conference on December 7, 2021. The company will host a virtual fireside chat at 10:55 am EST, accessible via live audio webcast. Kornit Digital specializes in on-demand fashion solutions, operating globally in over 100 countries. Their end-to-end offerings encompass digital printing systems and workflow management.
Kornit Digital (NASDAQ: KRNT) announced an upsized underwritten public offering of 2,645,953 ordinary shares priced at $151.00 each. Kornit will offer 1,940,000 shares, while an affiliate of Amazon will offer 705,953 shares, with Kornit not receiving proceeds from Amazon's sale. A 30-day underwriter option exists for an additional 396,892 shares. Expected to close on November 23, 2021, the proceeds will be used for potential acquisitions and general corporate purposes. Major underwriters include Citigroup and Barclays, among others.
Kornit Digital Ltd. (NASDAQ: KRNT) announced a public offering of 2,205,701 ordinary shares. Of these, 1,500,000 shares are being offered by Kornit and 705,701 shares by an Amazon affiliate. Kornit will not receive proceeds from Amazon's shares. The company plans to use the proceeds for future acquisitions and general corporate purposes. The underwriters will also have a 30-day option to purchase an additional 330,855 shares. Prominent bookrunners include Citigroup, Barclays, Goldman Sachs, and Morgan Stanley.
Kornit Digital Ltd. (NASDAQ: KRNT) reported robust third-quarter results for 2021, with total revenue reaching $86.7 million, a 51% year-over-year increase. The figure reflects a $7.9 million non-cash impact from warrants. The company achieved a GAAP operating profit of $3.9 million and a non-GAAP operating profit of $8.6 million. Industry-transforming platforms, Atlas MAX and Presto MAX, have gained strong market acceptance. Kornit anticipates fourth-quarter revenue between $89 million and $93 million, with non-GAAP operating income expected at 13% to 15%.
Kornit Digital (NASDAQ: KRNT) announced the appointment of Jae Hyun (Jay) Lee as a strategic advisor and future board member during its 2022 Annual Shareholder Meeting. With nearly three decades of experience, including significant leadership roles at eBay and Korea Thrunet, Lee will leverage his expertise in e-commerce and digital marketplaces to support Kornit’s growth. CEO Ronen Samuel expressed optimism about Lee's contributions, especially in transforming the sustainable fashion sector.
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