Kornit Digital Reports 4Q, Full Year 2024 Results

Kornit Digital Ltd. reported its results for the fourth quarter and full year ended December 31, 2024.

Total revenue for the fourth quarter of 2024 was $60.7 million compared with $56.6 million in the prior year period, due primarily to growth in products revenue. GAAP gross profit margin for the fourth quarter of 2024 was 51.3% compared with 25.8% in the prior year period. On a non-GAAP basis, gross profit margin was 55.1% compared with 48.6% in the prior year period.

GAAP net income for the fourth quarter of 2024 was $2.2 million, or $0.05 basic and diluted per share, compared with net loss of $22.9 million, or ($0.48) basic and diluted per share, for the fourth quarter of 2023. Adjusted EBITDA for the fourth quarter of 2024 was $8.4 million compared with adjusted EBITDA of $0.2 million for the fourth quarter of 2023.

Total revenue for the full year 2024 was $203.8 million compared with $219.8 million in the prior year, due primarily to lower systems revenue. GAAP gross profit margin for the full year 2024 was 45% compared with 30.5% in the prior year. On a non-GAAP basis, gross profit margin was 48.6% compared with 38.4% in the prior year.

GAAP net loss for the full year 2024 was $16.8 million, or ($0.35) basic and diluted per share, compared with net loss of $64.4 million, or ($1.31) basic and diluted per share, for the full year 2023. Adjusted EBITDA for the full year 2024 was $0.3 million compared with adjusted EBITDA loss of $30.9 million for the full year 2023. Adjusted EBITDA margin for the full year 2024 was 0.2% compared with –14% for the full year 2023.

“Our fourth quarter performance was fueled by a successful peak season and growing impressions across our key customers,” said Ronen Samuel, Kornit’s CEO. “One of the most exciting highlights of Q4 was the Apollo platform’s performance. Having delivered 15 Apollo systems throughout the year, with most becoming fully operational during this critical period, customer feedback has been excellent, reinforcing Apollo’s role as a key enabler of mass-scale digital production.

“At the beginning of 2024, we set clear objectives: return to positive EBITDA, generate meaningful cash flow, and establish a scalable, disciplined model that fuels long-term expansion. Thanks to the dedicated efforts of our teams, I am pleased to report that we not only delivered on these goals but also introduced game-changing innovations, strengthened our market position, and expanded into new strategic adjacencies,” Samuel added.

“As we stated in our last call, 2025 is about execution—translating the strong foundation built in 2024 into scalable, profitable growth, strengthening our market leadership and driving the industry forward with our innovative solutions and business models,” Samuel concluded.