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Kornit Digital Reports 4Q, Full-Year 2019 Results

Company has a record 2019 with 39% year-over-year growth in system sales.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Kornit Digital Ltd. reported results for the fourth quarter and full-year, ended Dec. 31, 2019. The company noted fourth quarter revenue of $48.7 million, net of $1.1 million attributed to the non-cash impact of warrants.

Fourth quarter 2019 GAAP operating income was $3.3 million, and non-GAAP operating income was $5.8 million, net of $1.1 million attributed to the non-cash impact of warrants.

Kornit officials said the company  completed a year of innovative and successful new product introductions, continued to focus on strengthening infrastructure and expanding scale across the business, laying foundation for future growth.

“The fourth quarter of 2019 capped off another year of exciting growth and progress for Kornit. We are extremely proud of our strong performance in 2019 and believe that our leadership position in the market continues to widen,” said Ronen Samuel, Kornit Digital’s CEO. “Our 2019 results provide a robust foundation for continued growth and execution in 2020 as we are seeing the exceptionally strong momentum in the business continue in the first quarter. We believe Kornit is best positioned to lead the textile industry in its shift to on-demand manufacturing in a sustainable way.”

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