08.10.21
Kornit Digital Ltd. reported results for the second quarter ended June 30, 2021.
Total revenue for the second quarter of 2021 was $81.7 million, net of $6.6 million attributed to the non-cash impact of warrants, compared to $37.4 million, net of $0.8 million attributed to the non-cash impact of warrants in the prior year period.
GAAP net income for the second quarter of 2021 was $5.6 million, or $0.12 per diluted share, compared to net loss of $4.6 million, or $0.11 per basic share, for the second quarter of 2020.
“Our second quarter results capped off what was a remarkable first half of the year for Kornit,” said Ronen Samuel, Kornit Digital’s CEO. “The company executed across the board, delivering on massive global expansion projects with top strategic customers and driving growth from new customers, both in the DTG and DTF product lines. We began shipping our Atlas Max mass production systems after very successful beta testing, and are seeing great momentum for KornitX, as evidenced by our recently announced partnership with Canva, the largest on-line design software and content provider in the world.”
“We are also pleased to announce our acquisition of Voxel8, which will help us accelerate the execution of our 4.0 strategy to digitize on-demand sustainable textile production,” Samuel added. “Through Voxel8’s advanced and proven 3D technology, which has been tested by some of the world’s leading fashion and footwear brands including Hush Puppies, which is part of Wolverine Worldwide, we will disrupt the business of fashion, empowering completely new creative decorative concepts and never-before-seen functional textile applications, while exploring new lucrative opportunities in the functional apparel and footwear markets.
“Our pipeline and visibility have never been stronger as the industry accelerates its digital transformation with Kornit leading the way,” Samuel concluded. “We are more confident than ever in our outlook for the remainder of this year and into next year, and believe we are well on our way to becoming the operating system for on demand sustainable fashion and a $1 billion revenue company in 2026.”
We are very pleased with our exceptionally strong second quarter results,” said Alon Rozner, Kornit Digital’s CFO. “All revenue components, including mass production systems, consumables and services, increased, due in part to continued momentum with our global strategic accounts, while all regions posted year-over-year and sequential growth.”
Total revenue for the second quarter of 2021 was $81.7 million, net of $6.6 million attributed to the non-cash impact of warrants, compared to $37.4 million, net of $0.8 million attributed to the non-cash impact of warrants in the prior year period.
GAAP net income for the second quarter of 2021 was $5.6 million, or $0.12 per diluted share, compared to net loss of $4.6 million, or $0.11 per basic share, for the second quarter of 2020.
“Our second quarter results capped off what was a remarkable first half of the year for Kornit,” said Ronen Samuel, Kornit Digital’s CEO. “The company executed across the board, delivering on massive global expansion projects with top strategic customers and driving growth from new customers, both in the DTG and DTF product lines. We began shipping our Atlas Max mass production systems after very successful beta testing, and are seeing great momentum for KornitX, as evidenced by our recently announced partnership with Canva, the largest on-line design software and content provider in the world.”
“We are also pleased to announce our acquisition of Voxel8, which will help us accelerate the execution of our 4.0 strategy to digitize on-demand sustainable textile production,” Samuel added. “Through Voxel8’s advanced and proven 3D technology, which has been tested by some of the world’s leading fashion and footwear brands including Hush Puppies, which is part of Wolverine Worldwide, we will disrupt the business of fashion, empowering completely new creative decorative concepts and never-before-seen functional textile applications, while exploring new lucrative opportunities in the functional apparel and footwear markets.
“Our pipeline and visibility have never been stronger as the industry accelerates its digital transformation with Kornit leading the way,” Samuel concluded. “We are more confident than ever in our outlook for the remainder of this year and into next year, and believe we are well on our way to becoming the operating system for on demand sustainable fashion and a $1 billion revenue company in 2026.”
We are very pleased with our exceptionally strong second quarter results,” said Alon Rozner, Kornit Digital’s CFO. “All revenue components, including mass production systems, consumables and services, increased, due in part to continued momentum with our global strategic accounts, while all regions posted year-over-year and sequential growth.”
