Kornit reports second-quarter revenue of $49.8 million, $7.5 million loss

GaryPageau
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On-demand textile production equipment maker Kornit Digital Ltd. announced second-quarter revenue was $49.8 million compared with $48.6 million in the prior year period. GAAP gross profit margin for the second quarter of 2025 was 41.7% compared with 45.8% in the prior year period. On a non-GAAP basis, gross profit margin was 46.3% compared with 48.6% in the prior year period. GAAP operating expenses for the second quarter of 2025 were $31.6 million compared with $33.0 million in the prior year period. On a non-GAAP basis, operating expenses decreased by 4.4% to $26.7 million compared with the prior year period. GAAP net loss for the second quarter of 2025 was $7.5 million, or ($0.17) per basic share, compared with net loss of $4.9 million, or ($0.10) per basic share, for the second quarter of 2024.

“We delivered second quarter results within our guidance range in a challenging market environment, reflecting ongoing progress in transforming our business toward recurring revenue and long-term growth,” said Ronen Samuel, Kornit’s Chief Executive Officer. “While consumables revenue came in softer due to inventory adjustments among certain customers, system sales and AIC adoption maintained momentum. We saw particularly positive traction from screen-printing customers embracing digital for the first time, for a variety of run lengths, as well as capacity expansions from customized design customers.

“Despite a more modest outlook for the second half, we remain focused on the execution of our strategy. Our priorities are clear: scaling adoption of the Apollo and AIC, growing the number of screen-printing customers we serve, and maintaining both adjusted EBITDA profitability and operating cash flow generation. With disciplined execution and continued focus, we remain confident these efforts will lay the foundation for a more resilient, scalable, and profitable business.”

KORNIT DIGITAL INC. AND ITS SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands)
June 30, December 31,
2025 2024
(Unaudited) (Audited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 25,418 $ 35,003
Short-term bank deposit 306,437 205,934
Marketable securities 99,757 222,937
Trade receivables, net 64,457 65,459
Inventory 50,023 60,342
Other accounts receivable and prepaid expenses 28,586 25,714
Total current assets 574,678 615,389
LONG-TERM ASSETS:
Marketable securities 56,991 48,086
Deposits and other long-term assets 14,089 10,542
Severance pay fund 344 306
Property, plant and equipment, net 67,296 59,222
Operating lease right-of-use assets 18,443 19,054
Intangible assets, net 4,955 5,721
Goodwill 29,164 29,164
Total long-term assets 191,282 172,095
Total assets 765,960 787,484
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Trade payables 10,032 9,019
Employees and payroll accruals 13,386 13,101
Deferred revenues and advances from customers 1,566 2,339
Operating lease liabilities 3,670 3,311
Other payables and accrued expenses 16,434 16,561
Total current liabilities 45,088 44,331
LONG-TERM LIABILITIES:
Accrued severance pay 472 1,051
Operating lease liabilities 15,525 15,065
Other long-term liabilities 126 138
Total long-term liabilities 16,123 16,254
SHAREHOLDERS’ EQUITY 704,749 726,899
Total liabilities and shareholders’ equity $ 765,960 $ 787,484
KORNIT DIGITAL LTD.
AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars in thousands, except share and per share data)
Three Months Ended Six Months Ended
June 30, June 30,
2025 2024 2025 2024
(Unaudited) (Unaudited)
Revenues
Products $ 38,413 $ 34,366 $ 72,278 $ 63,379
Services 11,341 14,255 23,933 29,018
Total revenues 49,754 48,621 96,211 92,397
Cost of revenues
Products 17,967 13,271 33,580 28,962
Services 11,043 13,066 22,087 27,012
Total cost of revenues 29,010 26,337 55,667 55,974
Gross profit 20,744 22,284 40,544 36,423
Operating expenses:
Research and development, net 9,143 10,472 18,421 21,824
Sales and marketing 14,993 14,976 29,942 28,772
General and administrative 7,474 7,532 15,118 14,809
Total operating expenses 31,610 32,980 63,481 65,405
Operating loss (10,866 ) (10,696 ) (22,937 ) (28,982 )
Financial income, net 3,465 6,435 10,848 11,781
Loss before taxes on income (7,401 ) (4,261 ) (12,089 ) (17,201 )
Taxes on income 117 648 488 907
Net loss $ (7,518 ) $ (4,909 ) $ (12,577 ) $ (18,108 )
Basic loss per share $ (0.17 ) $ (0.10 ) $ (0.28 ) $ (0.38 )
Weighted average number of shares
used in computing basic net loss per share 45,164,493 47,535,212 45,482,748 47,573,334
Diluted loss per share $ (0.17 ) $ (0.10 ) $ (0.28 ) $ (0.38 )
Weighted average number of shares
used in computing diluted net loss per share 45,164,493 47,535,212 45,482,748 47,573,334

Written by 

Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.