Kornit Digital posts million loss in Q2 market

Textile printing technology major Kornit Digital recorded $58.1m in revenue for the second quarter to June 30, down from $81.7m pcp, with a GAAP net loss of $19.5m compared to net income of $5.6m in Q2 2021. The company announced that chief financial officer Alon Rozner is leaving for personal reasons and will be replaced by industry veteran Lauri Hanover. Ronen Samuel, CEO, Kornit Digital, says, “While the overall operating environment remains challenging, we believe the industry will continue its long-term secular growth, fueled by the mega-trends we’ve discussed in the past,”

Ronen continues, “We are navigating the current market dynamics by working closely with global brands, retailers and fulfillers to shift production volumes to on-demand, executing on new product introductions and adoption of these innovative technologies, and focusing on returning to profitability.” He conclusively mentions that Kornit Digital’s vision is to remain unchanged and they remain extremely confident in the fundamentals of the business, with solid financial foundation and dedicated global team of professionals.