Kornit Digital reports Q1 revenues of $43.8m

In the first quarter ended March 31, Kornit Digital has reported revenues of $43.8m in spite of macroeconomic challenges.

Ronen Samuel, Kornit’s chief executive officer, said: “Despite enduring macroeconomic challenges, we saw success with the strategic initiatives we implemented in Q4 and early this quarter.

“Our pipeline for the Apollo has already been filled for 2024 by customers addressing both existing and target markets, and we are now building our pipeline for 2025. Additionally, in the first quarter of the AIC pilot on Apollo, the model generated highly positive feedback and drove multiple orders.

“As we look ahead, we are dedicating our attention and resources to ensuring that we have put all the necessary pieces in place to deliver on our vision of transitioning long-run production to sustainable, on-demand digital production, globally.”

The Q1 revenue of $43.8m compared with $47.8m the previous year was primarily due to lower system revenues.

The second quarter of the year, Kornit expects revenues to be in the range of $47 million to $52 million.