The shift from analog to on-demand digital production is accelerating, evidenced by a growing number of screen printers adopting Kornit Apollo and other Kornit MAX-powered platforms
The All-Inclusive Click (AIC) model moves beyond its pilot phase, providing predictable costs, lowering barriers to entry, and unlocking a significant incremental market opportunity
Management’s long-term financial targets include double-digit revenue growth, meaningful recurring revenue contribution from the AIC model, and strong improvements to profitability
As a testament to the Company’s conviction in its vision, Kornit’s board of directors approves an additional $100 million repurchase program expected to be completed by the middle of 2025
ROSH-HA`AYIN, Israel , Sept. 10, 2024 (GLOBE NEWSWIRE) -- Kornit Digital LTD. (NASDAQ: KRNT) is hosting its "Fashion is Choosing On-Demand" investor event today in Las Vegas, in conjunction with its participation in PRINTING United Expo 2024. The Company will highlight its market opportunities, showcase its technology, outline its go-to-market strategy, and detail its long-term financial goals.
Ronen Samuel, Kornit’s Chief Executive Officer, said “Kornit has a tremendous opportunity to lead in the digital transformation of the textile industry. Brands and retailers need agility, and our solutions are perfectly aligned with these demands. With the addition of our innovative AIC model, and our revamped go-to-market, we are confident that Kornit is well positioned to deliver value to our customers, shareholders, and employees.”
Kornit Solutions Address Market Needs and Are Ready to Deliver
Today’s consumers are driven by real-time trends, and demand endless choice, sustainability, and overnight delivery. These are needs that outdated fashion supply chains cannot support. Kornit’s on-demand digital solutions tackle these challenges by offering speed, creativity, optimized production, and minimized waste. The Company’s patented technology, including MAX platforms and the newly launched Apollo, enables efficient, high-quality production runs. This creates a comprehensive solution of systems, consumables, and workflow software for both Direct-to-Garment (DTG) and Roll-to-Roll production. The shift from analog to on-demand digital production is now accelerating, evidenced by a growing number of screen printers adopting Kornit solutions. The Company’s revamped go-to-market strategy focuses on end-to-end solutions, expanding into new segments, and unlocking a meaningful incremental market opportunity.
Commitment to Growth and Shareholder Value
Mr. Samuel concluded, “Through the end of the decade, we are targeting double-digit growth, meaningful recurring revenue contribution from the AIC model, and strong improvements to profitability. Today, we also announced an additional $100 million share repurchase program, demonstrating our conviction in our vision and commitment to shareholder value.”
Investor Event Webcast Information
Date: September 10, 2024 Presentation Start Time: 9:00 a.m. PT Click here to register
Interested parties can tune in to a live webcast of the event, which will be available on Kornit’s investor relations page at https://ir.kornit.com/. A replay of the webcast and presentation materials will also be posted on the Company’s investor relations website following the event.
About Kornit Digital
Kornit Digital (NASDAQ: KRNT) is a worldwide market leader in sustainable, on-demand, digital fashion and textile production technologies. The Company offers end-to-end solutions including digital printing systems, inks, consumables, software, and fulfillment services through its global fulfillment network. Headquartered in Israel with offices in the USA, Europe, and Asia Pacific, Kornit Digital serves customers in more than 100 countries and states worldwide. To learn more about how Kornit Digital is boldly transforming the world of fashion and textiles, visit www.kornit.com.
Forward Looking Statements
Certain statements in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. securities laws. Forward-looking statements are characterized by the use of forward-looking terminology such as “will,” “expects,” “anticipates,” “believes,” “intends,” “planned,” or other similar words. These forward-looking statements include, but are not limited to, statements relating to the Company’s objectives, plans and strategies, including with respect to the Company’s authorized share repurchase program, statements regarding the Company’s results of operations and financial condition and all statements that address developments that the Company expects or anticipates will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things: potential objection to the share repurchase program by the Company’s creditors and/or failure to receive Israeli court approval after any such objection; the Company’s degree of success in developing, introducing and selling new or improved products and product enhancements including specifically the Company’s Poly Pro and Presto products, and the Company’s Apollo direct-to-garment platform; the extent of the Company’s ability to increase sales of its systems, ink and consumables; the development of the market for digital textile printing; and those additional factors referred to under “Risk Factors” in Item 3.D of the Company’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 28, 2024. Any forward-looking statements in this press release are made as of the date hereof, whether as a result of new information, future events or otherwise, except as required by law.
Investor Contact: Jared Maymon Global Head of Investor Relations & Strategic Finance Jared.Maymon@Kornit.com
