Kornit Digital Stock Price, News & Analysis

Kornit Digital (NASDAQ: KRNT) announced an upsized underwritten public offering of 2,645,953 ordinary shares priced at $151.00 each. Kornit will offer 1,940,000 shares, while an affiliate of Amazon will offer 705,953 shares, with Kornit not receiving proceeds from Amazon's sale. A 30-day underwriter option exists for an additional 396,892 shares. Expected to close on November 23, 2021, the proceeds will be used for potential acquisitions and general corporate purposes. Major underwriters include Citigroup and Barclays, among others.

Kornit Digital Ltd. (NASDAQ: KRNT) announced a public offering of 2,205,701 ordinary shares. Of these, 1,500,000 shares are being offered by Kornit and 705,701 shares by an Amazon affiliate. Kornit will not receive proceeds from Amazon's shares. The company plans to use the proceeds for future acquisitions and general corporate purposes. The underwriters will also have a 30-day option to purchase an additional 330,855 shares. Prominent bookrunners include Citigroup, Barclays, Goldman Sachs, and Morgan Stanley.

Kornit Digital Ltd. (NASDAQ: KRNT) reported robust third-quarter results for 2021, with total revenue reaching $86.7 million, a 51% year-over-year increase. The figure reflects a $7.9 million non-cash impact from warrants. The company achieved a GAAP operating profit of $3.9 million and a non-GAAP operating profit of $8.6 million. Industry-transforming platforms, Atlas MAX and Presto MAX, have gained strong market acceptance. Kornit anticipates fourth-quarter revenue between $89 million and $93 million, with non-GAAP operating income expected at 13% to 15%.

Kornit Digital (NASDAQ: KRNT) announced the appointment of Jae Hyun (Jay) Lee as a strategic advisor and future board member during its 2022 Annual Shareholder Meeting. With nearly three decades of experience, including significant leadership roles at eBay and Korea Thrunet, Lee will leverage his expertise in e-commerce and digital marketplaces to support Kornit’s growth. CEO Ronen Samuel expressed optimism about Lee's contributions, especially in transforming the sustainable fashion sector.

Kornit Digital Ltd. (NASDAQ: KRNT) has appointed Stef Strack as a strategic advisor to the Company and its Board of Directors, effective October 15, 2021. With 18 years in the fashion and sport industries, Strack is also the founder of Voice in Sport. Her experience includes leadership roles at Rag & Bone and Nike. The Company plans to nominate her for election at the 2022 Annual Shareholder Meeting. CEO Ronen Samuel emphasized Strack's expertise in digital transformation and sustainable production, aligning with Kornit's vision to innovate in the textile industry.

Kornit Digital Ltd. (NASDAQ: KRNT) has announced the launch of the Kornit Presto MAX, a revolutionary system for sustainable, on-demand textile production. This cutting-edge technology will debut at the Kornit Fashion Week in Los Angeles from November 2-5, showcasing capabilities like white printing on colored fabrics and integration of XDi technology for 3D applications. The system aims to modernize textile production, reduce carbon footprint, and streamline the production process while enhancing quality and efficiency across the industry.

Kornit Digital (NASDAQ: KRNT) will release its financial results for Q3 2021 on November 10, 2021, before market open. An earnings conference call will follow at 8:30 AM ET, with live access through Kornit's website. The call will be available for replay for a limited time. Kornit Digital is a leader in sustainable digital textile production technologies, supporting customers globally through comprehensive workflow and fulfillment solutions.

Kornit Digital (NASDAQ: KRNT) released its inaugural 2020 Impact and ESG Report, outlining its commitment to sustainability and eco-friendly practices in the fashion industry. The report highlights Kornit’s innovations that significantly reduce water usage by up to 95% and energy consumption by 94% compared to traditional methods. By 2026, the company aims to produce 2.5 billion apparel items sustainably, eliminating overproduction of approximately 1.1 billion items and saving 4.3 trillion liters of water. Kornit emphasizes its dedication to creating a diverse and responsible corporate culture.