Printwear & Promotion The Total Promotional Package
Kornit Digital has achieved third quarter revenues of $50.7m in part thanks to continued uptake of the Apollo and Atlas MAX platforms by screen-replacement customers.
Ronen Samuel, Kornit’s CEO, said: “I am very pleased with the operational progress we achieved this quarter. We delivered gross margin expansion, returned to adjusted EBITDA profitability, and maintained positive cash generation as planned.
“Our unsurpassed Apollo and MAX-powered products combined with our revamped go-to-market and our All-Inclusive-Click model are already expanding our serviceable market. This quarter we announced new customers such as Print Palace and Custom Ink that have chosen Kornit to shift their production from screen to digital direct to garment. We are simultaneously seeing signs of a return to a growth-focused mindset from our core market with customers such as Monster Digital, Mad Engine Global and DO Apparel, all of whom have announced expansion of their on-demand digital production fleets with Kornit.”
Mr Samuel confirmed that Kornit was entering 2025 with the right products and the right model.
Total revenue for Q3 2024 was lower compared to the same period in 2024 (Q3 2024: $50.7m vs. Q3 2023: $59.2m), which Kornit attributes primarily to lower systems revenues.
Kornit expects revenues in Q4 to be in the range of $58m to $63m.
