Kornit Digital reports fourth quarter & full-year results

Kornit Digital has announced the Q4 and 2022 results of operations as its total revenue for the fourth quarter of 2022 was $63.3 million, net of $4.3 million attributed to the non-cash impact of warrants, compared to $87.5 million, net of $7.9 million attributed to the non-cash impact of warrants in the prior year period. The company’s GAAP net loss for the fourth quarter of 2022 was $35.4 million, or ($0.71) per basic share, compared to net income of $1.0 million, or $0.02 per diluted share, for the fourth quarter of 2021.

In the full-year 2022 results of operations, Kornit Digital recorded total revenue for the full-year 2022 at $271.5 million, net of $22.5 million attributed to the non-cash impact of warrants, compared to $322.0 million, net of $25.4 million attributed to the non-cash impact of warrants in the prior year period. GAAP net loss for the full-year 2022 was $79.1 million, or ($1.58) per basic share, compared to net income of $15.5 million, or $0.32 per diluted share, for the full-year 2021. According to an official, Kornit in 2023 will focus on three key areas—returning to profitability; successfully launching the Apollo and scaling KornitX.