Kornit Digital Showcases Fashion Goes On-Demand with PRINTING United Expo 2024

The transition from analog to on-demand digital production is accelerating, as evidenced by the growing number of screen printers adopting Kornit Apollo and other platforms supported by Kornit MAX
The All-Inclusive Click (AIC) model goes beyond the pilot phase by providing predictable costs, lowering entry barriers and opening significant additional market opportunity
Management’s long-term financial goals include double-digit revenue growth, significant contribution to recurring revenue from the AIC model and significant improvement in profitability
As evidence of the Company’s conviction in its vision, Kornit’s board of directors approves an additional $100 million buyback program, which is expected to be completed in mid-2025.

ROSH-HA`AJIN, Israel, Sept. 10, 2024 (GLOBE NEWSWIRE) — Kornit Digital Ltd. (NASDAQ: KRNT) is hosting an investor event, “Fashion is Choosing On-Demand,” in Las Vegas today in conjunction with PRINTING United Expo 2024. The company will highlight its market opportunity, showcase its technology, outline its go-to-market strategy and detail its long-term financial goals.

Ronen Samuel, CEO of Kornit, said: “Kornit has a huge opportunity to lead the digital transformation of the textile industry. Brands and retailers need agility, and our solutions are ideally suited to meet these requirements. With the addition of our innovative AIC model and our renewed go-to-market approach, we are confident that Kornit is well-positioned to deliver value to our customers, shareholders and employees.”

Kornit solutions respond to market needs and are ready to deliver

Today’s consumers are driven by real-time trends and demand unlimited choice, sustainability and next-day delivery. These are needs that outdated fashion supply chains are unable to meet. Kornit’s digital on-demand solutions address these challenges by delivering speed, creativity, optimized production and minimal waste. The company’s patented technology, including the MAX and recently introduced Apollo platforms, enables efficient, high-quality production runs. This creates a comprehensive solution of systems, consumables and workflow software for both Direct-to-Garment (DTG) and Roll-to-Roll production. The transition from analog to digital on-demand production is accelerating, as evidenced by the growing number of screen printers adopting Kornit solutions. The company’s revamped go-to-market strategy focuses on comprehensive solutions, expansion into new segments and unlocking significant additional market opportunities.

Committed to growth and shareholder value

Mr. Samuel concluded, “We are committed to achieving double-digit growth by the end of the decade, significant recurring revenue contributions from the AIC model, and significant improvements in profitability. Today, we also announced an additional $100 million share repurchase program, demonstrating our conviction in our vision and commitment to shareholder value.”

Information about the investor event webcast

Date: September 10, 2024
Presentation start time: 9:00 a.m. Pacific Time
Click here to register

Interested parties may view a live webcast of the event, which will be available on Kornit’s investor relations website at . A replay of the webcast and presentation materials will also be published on the Company’s investor relations website following the event.

About Kornit Digital

Kornit Digital (NASDAQ: KRNT) is a global market leader in sustainable, on-demand digital manufacturing technologies for fashion and textiles. The company offers comprehensive solutions including digital printing systems, inks, consumables, software and fulfillment services through its global fulfillment network. Headquartered in Israel with offices in the U.S., Europe and Asia Pacific, Kornit Digital serves customers in more than 100 countries and states worldwide. To learn more about how Kornit Digital is boldly transforming the world of fashion and textiles, visit www.kornit.com.

Forecast statements

Certain statements in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. securities laws. Forward-looking statements are characterized by the use of forward-looking terminology such as “will,” “expects,” “anticipates,” “believes,” “intends,” “planned” or other similar words. These forward-looking statements include, but are not limited to, statements regarding the Company’s objectives, plans and strategies, including with respect to the Company’s authorized share repurchase program, statements regarding the Company’s results of operations and financial condition, and all statements that address events that the Company expects or anticipates will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and judgments made by its management in light of their experience and their perception of historical trends, current conditions, expected future events and other factors they believe are appropriate. Important factors that could cause actual results, events and business decisions to differ materially from those contemplated by these forward-looking statements include, among others: potential opposition by the Company’s creditors to its share repurchase program and/or the lack of approval by an Israeli court following such opposition; the degree of the Company’s success in developing, introducing and commercializing new or improved products and product enhancements, including, without limitation, the Company’s Poly Pro and Presto products and the Company’s Apollo direct printing platform; the degree of the Company’s ability to increase sales of its systems, ink and consumables; the development of the digital textile printing market; and those additional factors discussed in the “Risk Factors” section of Item 3.D of the company’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 28, 2024. Any forward-looking statements included in this press release are made as of the date hereof, whether as a result of new information, future events or otherwise, except as required by law.

Contact for investors:
Jared Maymon
Global Head of Investor Relations and Strategic Finance
[email protected]