02.15.22
Kornit Digital Ltd. reported results for the fourth quarter and full year ended Dec. 31, 2021.
“2021 was a pivotal year for Kornit,” said Ronen Samuel, Kornit Digital’s CEO. “What we accomplished this past quarter, and over the entire year, reflects outstanding execution on the huge market opportunity we are pursuing and the strength of our unique business model. The mega trends that have been fueling our business are intensifying, traditional textile supply chains are completely broken at this point, and the need for digital on-demand, sustainable production continues accelerating.
“We enter 2022 for what will be one of the busiest and most exciting years in the history of Kornit; a year with strong growth and a remarkable pipeline of ground-breaking new product introductions, starting already in the first quarter,” Samuel added. “We have never been in a better position as a company and we are extremely confident in our ability to meet our $1B revenue goal by 2026, if not before.”
“We ended 2021 with an outstanding fourth quarter and entered 2022 with a strong backlog and pipeline,” said Alon Rozner, Kornit Digital’s CFO. “We generated record cash flow from operations in 2021, successfully navigated global supply chain pressures, and delivered on our commitments to our customers. We continue to invest in the business to capitalize on the enormous opportunities we see and to accelerate growth.”
Total revenue for the fourth quarter of 2021 was $87.5 million, net of $7.9 million attributed to the non-cash impact of warrants, compared to $72.3 million, net of $1.8 million attributed to the non-cash impact of warrants in the prior year period.
GAAP net income for the fourth quarter of 2021 was $1.0 million, or $0.02 per diluted share, compared to $5.9 million, or $0.12 per share, for the fourth quarter of 2020.
Total revenue for the full-year 2021 revenue was $322 million, net of $25.4 million attributed to the non-cash impact of warrants, compared to $193.3 million, net of $5.4 million attributed to the non-cash impact of warrants in the prior year period.
GAAP net income for the full-year 2021 was $15.5 million, or $0.32 per diluted share, compared to net loss of $4.8 million, or $0.11 per basic share, for the full-year 2020.
“2021 was a pivotal year for Kornit,” said Ronen Samuel, Kornit Digital’s CEO. “What we accomplished this past quarter, and over the entire year, reflects outstanding execution on the huge market opportunity we are pursuing and the strength of our unique business model. The mega trends that have been fueling our business are intensifying, traditional textile supply chains are completely broken at this point, and the need for digital on-demand, sustainable production continues accelerating.
“We enter 2022 for what will be one of the busiest and most exciting years in the history of Kornit; a year with strong growth and a remarkable pipeline of ground-breaking new product introductions, starting already in the first quarter,” Samuel added. “We have never been in a better position as a company and we are extremely confident in our ability to meet our $1B revenue goal by 2026, if not before.”
“We ended 2021 with an outstanding fourth quarter and entered 2022 with a strong backlog and pipeline,” said Alon Rozner, Kornit Digital’s CFO. “We generated record cash flow from operations in 2021, successfully navigated global supply chain pressures, and delivered on our commitments to our customers. We continue to invest in the business to capitalize on the enormous opportunities we see and to accelerate growth.”
Total revenue for the fourth quarter of 2021 was $87.5 million, net of $7.9 million attributed to the non-cash impact of warrants, compared to $72.3 million, net of $1.8 million attributed to the non-cash impact of warrants in the prior year period.
GAAP net income for the fourth quarter of 2021 was $1.0 million, or $0.02 per diluted share, compared to $5.9 million, or $0.12 per share, for the fourth quarter of 2020.
Total revenue for the full-year 2021 revenue was $322 million, net of $25.4 million attributed to the non-cash impact of warrants, compared to $193.3 million, net of $5.4 million attributed to the non-cash impact of warrants in the prior year period.
GAAP net income for the full-year 2021 was $15.5 million, or $0.32 per diluted share, compared to net loss of $4.8 million, or $0.11 per basic share, for the full-year 2020.