First quarter revenue of $26.2 million, net of non-cash warrants impact of $0.6 millionFirst quarter 2020 GAAP operating loss of $13.0 million; Non-GAAP operating loss of $10.5.
Kornit Digital (KRNT) delivered earnings and revenue surprises of -69.23% and 2.09%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Shares of Kornit Digital (NASDAQ: KRNT) surged more than 24% by 10:30 a.m. EDT on Wednesday. Driving the rally in the printing solutions company's stock was its first-quarter results and outlook. Like most companies, Kornit Digital pulled its first-quarter guidance amid the market turmoil in March caused by the COVID-19 outbreak.
Kornit Digital Ltd. (NASDAQ:KRNT), which is in the machinery business, and is based in Israel, received a lot of...
ROSH-HA`AYIN, Israel, March 26, 2020 (GLOBE NEWSWIRE) -- Kornit Digital Ltd. (KRNT), a leading provider of digital printing solutions for the global textile industry, today provided an update in response to the impact of the coronavirus pandemic (COVID-19) on its business and operations. Due to the rapidly evolving global impact of COVID-19, the Company is withdrawing first quarter 2020 guidance and currently expects first quarter 2020 revenues will be approximately 35-45% below the $47 million low-end of its prior revenue guidance. The Company will provide further commentary when it releases its first quarter 2020 earnings results.
ROSH HA’AYN, Israel, March 23, 2020 (GLOBE NEWSWIRE) -- Kornit Digital (KRNT), a worldwide market leader in digital textile printing technology, announced the release of its new NeoPigment™ Robusto Softener solution for Presto, the company’s system for digital, pigment-based direct-to-fabric decoration. The new Softener solution is a product of the brand’s continuous innovation strategy, making Kornit technology the fashion world’s solution for on-demand proximity production. Offering vibrant colors, intricate design capabilities, and a fabric touch that is second to none, Kornit’s pigment-based digital print solutions require minimal space and labor relative to competitive offerings.
Q4 2019 Kornit Digital Ltd Earnings Call
One thing we could say about the analysts on Kornit Digital Ltd. (NASDAQ:KRNT) - they aren't optimistic, having just...
Kornit Digital (KRNT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Hedge funds don't get the respect they used to get. Nowadays investors prefer passive funds over actively managed funds. One thing they don't realize is that 100% of the passive funds didn't see the coronavirus recession coming, but a lot of hedge funds did. Even we published an article near the end of February and […]
ROSH HA’AYIN, Israel, April 30, 2020 -- Kornit Digital (Nasdaq: KRNT), a worldwide market leader in digital textile printing technology, today announced that it will release.
Q1 2019 Kornit Digital Ltd Earnings Call
Radware® (RDWR), a leading provider of cyber security and application delivery solutions, today announced that it has appointed Mr. Gabi Seligsohn to serve as an independent director of Radware’s Board of Directors. Mr. Seligsohn will serve as a member of the Board until the company’s next annual meeting of shareholders when his appointment will be up to a shareholder vote. “Mr. Seligsohn brings a wealth of experience to Radware’s board,” said Yehuda Zisapel, Chairman of Radware’s Board of Directors.
The investors in Kornit Digital Ltd.'s (NASDAQ:KRNT) will be rubbing their hands together with glee today, after the...
Kornit Digital (KRNT) shares rose nearly 34% on Wednesday after CEO Ronen Samuel said that he anticipated soon hitting an inflection point, and reverting to year-over-year growth in the second half of the year.Quarterly revenue came in at $26.2M, which surpassed consensus estimates by 2%, even though it was a decline from $38.6M from a year ago. Earnings per share were $0.17, topping expected earnings on the Street by $0.01, or 6.25%Kornit CEO Ronen Samuel remained very upbeat. “While our first quarter 2020 results were significantly impacted by efforts to contain COVID-19, we are very encouraged by the global reopening of the economy and see a clear path to reaccelerating top line growth,” said Samuel.“The broader market disruption of the last few months has created an inflection point in the textile industry, further accelerating the shift to e-commerce and exposing the inherent supply chain challenges faced by traditional retail." In his view, "there is a need across all segments for flexible inventory management, all of which is driving an increased need for on-demand digital production."He then stated that he expects to "deliver year-over-year growth for the second half of 2020."That was enough to send the stock soaring. Needham's James Ricchiuti maintained a Buy rating and raised the stock's price target $31 to $46, which in fact was surpassed once the market digested the earnings call and guidance.In a recent note to clients, Ricchiuti stated that he was confident in "Kornit's ability to reach management's target of scaling the business to $500 million of revenue exiting 2023." He went on to write that he regards Kornit as "one of the more compelling growth stories in our coverage universe."TipRanks data shows analysts to be moderately bullish on Kornit, with a 12-month price target of $40.20. And yet, given the run-up yesterday in Kornit's stock price, that represents 16% downside potential. (See Kornit’s stock analysis on TipRanks).Related News: Microsoft Buys Metaswitch For Cloud-Based Telecoms Move, 5G Expansion Shopify Reveals Multiple New Features At Virtual Reunite Event, Stock Now Up 95% YTD Tesla’s California Auto Plant Gets Go-Ahead to Reopen Next Week More recent articles from Smarter Analyst: * Billionaire Ackman Exits Berkshire Hathaway, Blackstone To Fund Opportunities * HBO Max Launches, But Not Yet Available on Amazon, Roku Platforms * Apple Snaps Up AI Startup Inductiv, As Analysts Boost PTs On Store Reopenings * Microsoft Seeks $2B Stake In India’s Jio Platforms- Report
Before we begin, I would like to remind you that forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. securities laws will be made on this call. Forward-looking statements are based on assumptions that are subject to known and unknown risks and uncertainties and could turn out to be incorrect, which could cause results to differ materially from those expected or implied by the forward-looking statements. Company's actual results could differ materially from those anticipated for many reasons, and I encourage you to review the company's filings with the Securities and Exchange Commission, including the company's annual report on Form 20-F filed March 23, 2020, which identifies specific risk factors that may cause actual results or events to differ materially.
NEW YORK, NY / ACCESSWIRE / May 19, 2020 / Kornit Digital Ltd. (NASDAQ:KRNT) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on May 19, 2020 at 5:00 PM Eastern ...
It is hard to get excited after looking at Kornit Digital's (NASDAQ:KRNT) recent performance, when its stock has...
ROSH HA’AYN, Israel, May 12, 2020 -- Kornit Digital (Nasdaq: KRNT), a worldwide market leader in digital textile printing technology, today announced that Ronen Samuel, Chief.
Kornit Digital (KRNT), a worldwide market leader in digital textile printing technology, announces Netherlands-based Simian, an online total print provider to more than half a million businesses and end-consumers, is implementing the Kornit Atlas digital direct-to-garment (DTG) system to increase its capacity for delivering sustainable, retail-ready decorated apparel on demand. Simian is the parent company of online print providing sites Reclameland, Drukland, and Flyerzone. Having established itself as a total print solutions provider for signage, banners, posters, flags, and other digitally printed textiles, Simian first entered the decorated apparel market by implementing two entry-level, single-pallet DTG systems.