Kornit Digital Ltd. (KRNT) Q1 2025 Earnings Call Transcript

Revenue $46.5 million, up from previous year, driven by growth in product revenues, primarily attributable to the expansion of the AIC program.

Adjusted EBITDA Margin -8.4%, improved from -7.8% in the same period last year, due to operational efficiencies.

Non-GAAP Gross Margin 45.2%, improved from 37.5% year-over-year, largely due to no warrant impact this quarter and a one-time benefit from a materials recovery effort.

Operating Cash Flow $5.8 million, compared to $4 million in the same period last year, indicating improved cash generation.

Cash Flow (less capital expenditures) $2 million, down from $2.7 million in the same period last year, reflecting a decrease in cash flow after capital expenditures.

Total Cash Balance $513 million, indicating a robust balance sheet.

Share Repurchase Activity Completed a $75 million accelerated share repurchase program, repurchasing approximately 2.5 million shares at an average price of $30.40 per share.

Annual Recurring Revenue (ARR) from AIC $14.5 million, representing a stable and growing base of recurring revenue from multi-year contracts.

Impressions 222 million impressions, up 10% year-over-year, driven by stronger system utilization and continued digital adoption.