11.11.21
Kornit Digital Ltd. reported results for the third quarter ended Sept. 30, 2021.
Total revenue for the third quarter of 2021 was $86.7 million, net of $7.9 million attributed to the non-cash impact of warrants, compared to $57.4 million, net of $2.2 million attributed to the non-cash impact of warrants in the prior year period.
GAAP net income for the third quarter of 2021 was $3.9 million, or $0.08 per diluted share, com-pared to $3.9 million, or $0.09 per share, for the third quarter of 2020.
“I am extremely proud of our phenomenal third quarter performance, with record revenues across all regions, strong profitability and operating cash flows,” said Ronen Samuel, Kornit Digital’s CEO. “We are witnessing the change in the fashion industry with an acceleration to sustainable, on-demand production – a revolutionary moment in how we all think and act about fashion, from the need for self-expression, to responsible production. Kornit is leading the digital transformation the fashion industry must make with innovative solutions that break the barriers between imagina-tion and physical applications.
“We enter 2022 with very strong business fundamentals supported by broad-based demand for our industry leading solutions,” Samuel added. “This growing demand and market acceptance puts us firmly on the path of becoming a $1 billion revenue company in 2026.”
“We are very pleased with our strong third quarter performance, which continued our momentum from the first half of the year,” said Alon Rozner, Kornit Digital’s CFO. “We are focused on end-ing the year strong and supporting our customers to ensure they are ready for their peak season. We enter 2022 in a phenomenal position with outstanding business fundamentals, a robust backlog and strong pipeline.”
Total revenue for the third quarter of 2021 was $86.7 million, net of $7.9 million attributed to the non-cash impact of warrants, compared to $57.4 million, net of $2.2 million attributed to the non-cash impact of warrants in the prior year period.
GAAP net income for the third quarter of 2021 was $3.9 million, or $0.08 per diluted share, com-pared to $3.9 million, or $0.09 per share, for the third quarter of 2020.
“I am extremely proud of our phenomenal third quarter performance, with record revenues across all regions, strong profitability and operating cash flows,” said Ronen Samuel, Kornit Digital’s CEO. “We are witnessing the change in the fashion industry with an acceleration to sustainable, on-demand production – a revolutionary moment in how we all think and act about fashion, from the need for self-expression, to responsible production. Kornit is leading the digital transformation the fashion industry must make with innovative solutions that break the barriers between imagina-tion and physical applications.
“We enter 2022 with very strong business fundamentals supported by broad-based demand for our industry leading solutions,” Samuel added. “This growing demand and market acceptance puts us firmly on the path of becoming a $1 billion revenue company in 2026.”
“We are very pleased with our strong third quarter performance, which continued our momentum from the first half of the year,” said Alon Rozner, Kornit Digital’s CFO. “We are focused on end-ing the year strong and supporting our customers to ensure they are ready for their peak season. We enter 2022 in a phenomenal position with outstanding business fundamentals, a robust backlog and strong pipeline.”