KORNIT DIGITAL Reports 11.3% Decrease in Revenue and 57.9% Decrease in Net Income for Q3 FY2023
November 22, 2023
🌥️Earnings Overview
KORNIT DIGITAL ($NASDAQ:KRNT) reported total revenue of USD 59.2 million and a net loss of USD 8.2 million for the third quarter of FY2023 ending September 30 2023, representing a decrease of 11.3% and 57.9% respectively compared to the same period in the prior year.
Analysis
GoodWhale has conducted an in-depth analysis of KORNIT DIGITAL‘s wellbeing, and according to the Star Chart, KORNIT DIGITAL is strong in assets, medium in growth, profitability and weak in dividends. KORNIT DIGITAL has a high health score of 9/10 with regard to its cashflows and debt, indicating that it is capable of safely riding out any crisis without the risk of bankruptcy. Further, KORNIT DIGITAL is classified as an ‘elephant’, a type of company that is rich in assets when liabilities are deducted. Given KORNIT DIGITAL’s strong fundamentals, it is likely to be a good option for investors looking for a stable investment with a strong return. The company’s strong asset base and health score suggest that it is unlikely to be affected by market fluctuations or any potential downturns. This makes it an attractive option for long-term, value-minded investors, as well as those looking for a steady dividend yield. In addition, KORNIT DIGITAL’s profitability and growth potential may also attract more aggressive investors looking for high returns over a shorter period. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Kornit Digital. More…
| Total Revenues | Net Income | Net Margin |
| 226.5 | -76.78 | -34.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Kornit Digital. More…
| Operations | Investing | Financing |
| -76.85 | 123.29 | -36.84 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Kornit Digital. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 898.11 | 77.41 | 17.67 |
Key Ratios Snapshot
Some of the financial key ratios for Kornit Digital are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.1% | 29.2% | -33.7% |
| FCF Margin | ROE | ROA |
| -39.2% | -5.5% | -5.3% |
Peers
Its main competitors are Hangzhou Honghua Digital Technology Stock Co Ltd, Heidelberger Druckmaschinen AG, and Koenig & Bauer AG.
– Hangzhou Honghua Digital Technology Stock Co Ltd ($SHSE:688789)
Honghua Digital Technology is a Chinese company that designs and manufactures electronic products. Its products include digital cameras, camcorders, digital photo frames, and other digital imaging products. The company also provides OEM and ODM services to other companies.
– Heidelberger Druckmaschinen AG ($OTCPK:HBGRY)
Heidelberger Druckmaschinen AG is a German printing press manufacturer. It is the world’s largest printing press manufacturer with a market share of 22.4% in 2016. The company is headquartered in Heidelberg, Germany, and employs around 5,700 people.
Heidelberger Druckmaschinen AG has a market cap of 419.02M as of 2022. Its ROE for the same year is 19.23%. The company is the world’s largest printing press manufacturer with a market share of 22.4% in 2016.
– Koenig & Bauer AG ($LTS:0G15)
Koenig & Bauer AG is a German printing press manufacturer. It is the oldest printing press manufacturer in the world and is headquartered in Würzburg, Germany. The company was founded in 1792 by Friedrich Koenig and Andreas Bauer. The company produces a wide range of printing presses, including offset, digital, flexographic, and gravure presses.
Koenig & Bauer AG has a market cap of 219.78M as of 2022. The company’s return on equity is 2.08%. Koenig & Bauer AG is the oldest printing press manufacturer in the world and is headquartered in Würzburg, Germany. The company produces a wide range of printing presses, including offset, digital, flexographic, and gravure presses.
Summary
KORNIT DIGITAL has seen a sharp decline in Q3 revenue and net income compared to Q3 of the previous year. Revenue has dropped 11.3% to USD 59.2 million, while net income has decreased 57.9% to USD -8.2 million. This is a concerning trend for investors as KORNIT DIGITAL appears to be struggling financially. Investors should be wary when considering investing in this company and should thoroughly research further developments before making an investment decision.
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