Kornit Digital reports first quarter sales were level

Kornit Digital Ltd. reported results for the first quarter ended March 31, 2025. First quarter revenues were $46.5 million, in line with previous guidance, compared with $43.8 million in the prior year period. and the first quarter GAAP net loss of $5.1 million.

“We delivered to our commitments in Q1, even as we operated in an uncertain macro environment,” said Ronen Samuel, Kornit’s Chief Executive Officer. “The apparel industry is undergoing significant disruption, and there has never been a better moment for Kornit to lead. Apollo combined with our AIC model is delivering robust impressions growth and unlocking the mass production segment which represents an estimated SAM of 4.5 billion impressions.

“The opportunity ahead is enormous, and Kornit is advancing with clarity, conviction, and purpose. We are playing offense and leading this transformation of how fashion is created, consumed, and delivered.”

Total revenue for the first quarter of 2025 was $46.5 million compared with $43.8 million in the prior year period.

GAAP gross profit margin for the first quarter of 2025 was 42.6% compared with 32.3% in the prior year period. On a non-GAAP basis, gross profit margin was 45.2% compared with 37.5% in the prior year period.

GAAP operating expenses for the first quarter of 2025 were $31.9 million compared with $32.4 million in the prior year period. On a non-GAAP basis, operating expenses increased by 1% to $27.4 million compared with the prior year period.

GAAP net loss for the first quarter of 2025 was $5.1 million, or ($0.11) per basic share, compared with net loss of $13.2 million, or ($0.28) per basic share, for the first quarter of 2024.

Non-GAAP net income for the first quarter of 2025 was $0.6 million, or $0.01 per diluted share, compared with non-GAAP net loss of $5.3 million, or ($0.11) per basic share, for the first quarter of 2024.

Adjusted EBITDA loss for the first quarter of 2025 was $3.9 million compared with adjusted EBITDA loss of $7.8 million for the first quarter of 2024. Adjusted EBITDA margin for the first quarter of 2025 was negative 8.4% compared with negative 17.9% for the first quarter of 2024.