Kornit Digital Ltd (KRNT) Q2 2024 Earnings Call Highlights: Navigating Challenges with ...

GuruFocus.com10-10

Revenue: $48.6 million for Q2 2024. Adjusted EBITDA Margin: Negative 3% for Q2 2024. Non-GAAP Gross Margin: 48.6% for Q2 2024, up from 36.1% in the same period last year. Non-GAAP Operating Expenses: ...

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The second tranche, up to $150 million, applies to new products. Ou","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"KRNT":"Kornit Digital Ltd."},"translate_title":"Kornit Digital Ltd(KRNT)2024年第二季度收益看涨期权亮点：应对挑战...","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KRNT":1},"content_text":"Revenue: $48.6 million for Q2 2024.\nAdjusted EBITDA Margin: Negative 3% for Q2 2024.\nNon-GAAP Gross Margin: 48.6% for Q2 2024, up from 36.1% in the same period last year.\nNon-GAAP Operating Expenses: $28 million for Q2 2024, a decrease of 17.9% from $34.1 million in Q2 2023.\nAdjusted EBITDA Loss: $1.6 million for Q2 2024, improved from a loss of $10.7 million in Q2 2023.\nCash Flow from Operations: Positive $4.5 million for Q2 2024.\nCash Balance: Approximately $554 million at the end of Q2 2024.\nThird Quarter Revenue Guidance: Expected to be between $48 million and $52 million.\nThird Quarter Adjusted EBITDA Margin Guidance: Expected to be in the 1% to 6% range.\n\n\nWarning! GuruFocus has detected 6 Warning Signs with KRNT.\n\nRelease Date: August 07, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nKornit Digital Ltd (NASDAQ:KRNT) reported positive cash flow from operations for the third consecutive quarter, indicating improved financial health.\nThe company saw growth in impressions and consumables, suggesting strong utilization of existing capacity by customers.\nThe Apollo system continues to be well-received, with several new orders, indicating strong market demand.\nThe AIC model is gaining traction, providing predictable unit economics for customers and a clearer revenue view for Kornit.\nKornit Digital Ltd (NASDAQ:KRNT) expects a stronger second half of 2024, with sales projected to increase by 20% to 25%.\n\n Negative Points \n\nThe company reported an adjusted EBITDA margin of negative 3%, indicating ongoing profitability challenges.\nSales of systems and services declined year-over-year, reflecting potential weaknesses in these segments.\nThe macroeconomic environment remains unstable, delaying investments in capital equipment.\nAn allowance for doubtful debts of approximately $1.5 million was recorded due to a North American customer's bankruptcy filing.\nThe share repurchase program was limited due to a blackout period, and the existing authorization expired in July.\n\n Q & A Highlights \nQ: Can you provide an update on the progress of the AIC model with Apollo, and why you are expanding it to Atlas? A: Ronen Samuel, CEO: The AIC model is transformative for the industry, removing barriers to entry by eliminating large initial capital investments. We have signed multiple Apollo systems, with 10 out of 15 expected to be on the AIC model this year. The feedback is positive, leading us to expand the model to Atlas MAX, which targets customers with lower volume needs than Apollo.\nQ: Can you clarify the impact of the warrant agreement with your global strategic account? A: Ronen Samuel, CEO: The first tranche of the warrant agreement, covering $250 million in existing products, is complete. The second tranche, up to $150 million, applies to new products. Our relationship with the strategic account remains strong, with continued growth in impressions and consumables.\nQ: How do you see the Direct-to-Fabric market evolving, and how does it compare to Direct-to-Garment? A: Ronen Samuel, CEO: The Direct-to-Fabric market is distinct, with significant growth potential in regions like India and China. We are focusing on new applications, such as footwear, which is a large, manual, and analog market. We aim to disrupt this with our digital solutions.\nQ: What are your expectations for revenue growth in the second half of the year, and what will drive it? A: Ronen Samuel, CEO: We expect a 20% to 25% revenue increase in the second half, driven primarily by consumables. We anticipate a stronger Q4, with improvements in gross margin and system deliveries, including those on the AIC model.\nQ: How are you addressing the screen printing market with Apollo and AIC models? A: Ronen Samuel, CEO: We are successfully engaging screen printers, many of whom are new to digital. Apollo offers superior quality and productivity, requiring only one operator. The AIC model further reduces entry barriers, and we plan to double Apollo deliveries next year.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474001562"}