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• Q4 2024 Revenue: $60.7 million.

• Full Year 2024 Revenue: $203.8 million, down from $219.8 million in 2023.

• Q4 2024 Adjusted EBITDA Margin: 13.8%.

• Full Year 2024 Adjusted EBITDA: $0.3 million, up from negative $30.9 million in 2023.

• Q4 2024 Non-GAAP Gross Margin: 55.1%, up from 48.6% in the same period last year.

• Full Year 2024 Non-GAAP Gross Margin: 48.6%, up from 38.4% in 2023.

• Q4 2024 Non-GAAP Operating Expenses: $28 million, a decrease of about 7% from $30.1 million last year.

• Full Year 2024 Non-GAAP Operating Expenses: $109.8 million, a decrease of about 14%.

• Q4 2024 Operating Cash Flow: $26.7 million, up from $2.6 million last year.

• Full Year 2024 Operating Cash Flow: $48.7 million, up from negative $34.7 million in 2023.

• Cash Balance at Quarter End: Approximately $512 million.

• Share Repurchase Program: $84.1 million used in 2024, with a total of $121.6 million at an average price of $24.40.

• Q1 2025 Revenue Guidance: Between $45.5 million and $49.5 million.

• Q1 2025 Adjusted EBITDA Margin Guidance: Negative 4% to negative 9% range.

• Warning! GuruFocus has detected 4 Warning Signs with KRNT.

Release Date: February 12, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Kornit Digital Ltd (NASDAQ:KRNT) returned to profitability in 2024, achieving positive EBITDA and generating substantial operating cash flow.

• The company reported Q4 2024 revenues of $60.7 million and an adjusted EBITDA margin of 13.8%, both within guidance ranges.

• Kornit successfully introduced new products like Apollo, Atlas MAX Plus, and Vivido Ink, which have been well-received in the market.

• The company expanded into new markets such as bulk apparel, footwear, and home decor, enhancing its growth potential.

• Kornit executed $75 million of its $100 million share repurchase program, demonstrating a commitment to delivering shareholder value.

Negative Points

• Full-year 2024 revenues declined to $203.8 million from $219.8 million in 2023, primarily due to lower systems and services sales.

• The company faces macroeconomic uncertainties, including potential tariffs on Mexico and inflationary pressures, which could impact customer behavior.

• Kornit expects a negative adjusted EBITDA margin for Q1 2025, indicating potential challenges in maintaining profitability in the short term.

• The roll-to-roll market was relatively soft in 2024, affecting overall performance in that segment.

• There is uncertainty regarding geopolitical developments and their impact on near-shore manufacturing, which could affect Kornit's strategic plans.