Kornit Digital Ltd. reported its third quarter results for 2024, announcing a return to adjusted EBITDA profitability and sustained positive cash generation. The company achieved an adjusted earnings per share of 11 cents, while reporting a GAAP net loss of $908,000, or 2 cents per share.
The company's Apollo and MAX-powered products, combined with a revamped go-to-market strategy and the All-Inclusive-Click (AIC) model, are expanding its serviceable market. New customers, including Print Palace and Custom Ink, have chosen Kornit to transition their production from screen to digital-direct-to-garment.
Existing customers such as Monster Digital, Mad Engine Global, and DO Apparel have also announced expansions of their on-demand digital production fleets with Kornit. For the fourth quarter of 2024, Kornit expects revenues to be in the range of $58 million to $63 million, with an adjusted EBITDA margin between 12% to 16%.
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