KORNIT DIGITAL Reports Q2 FY2023 Earnings of USD 56.2 Million, Down 3.3% YoY
August 24, 2023
🌥️Earnings Overview
KORNIT DIGITAL ($NASDAQ:KRNT) announced their financial results for the second quarter of FY2023 (ending June 30 2023) on August 9 2023, with total revenue of USD 56.2 million – a 3.3% decrease from the same period in the previous year. Net income for the quarter was reported to be USD -14.3 million, comparatively better than the -19.5 million reported in the same quarter of the prior year.
Analysis
The GoodWhale has conducted an extensive analysis of KORNIT DIGITAL and concluded that it is a high risk investment in terms of financial and business aspects. Based on our Risk Rating, KORNIT DIGITAL presents a level of risk that must not be overlooked. GoodWhale has identified three risk warnings from its balance sheet, cashflow statement, and financial journal that investors should take into account. GoodWhale’s detailed analysis provides comprehensive insight into KORNIT DIGITAL, allowing investors to better understand the company’s financial stability and associated risks. To access this information, register on goodwhale.com. Here you can access our comprehensive analysis of KORNIT DIGITAL, so that you can make an informed decision when deciding whether or not to invest. 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 |
| 234.07 | -87.65 | -38.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Kornit Digital. More…
| Operations | Investing | Financing |
| -74.25 | 0.12 | -21.15 |
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 |
| 919.78 | 86.38 | 17.34 |
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 |
| 13.6% | 29.2% | -35.5% |
| FCF Margin | ROE | ROA |
| -37.6% | -6.0% | -5.6% |
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 recently reported its financial results for the second quarter of FY2023, with total revenue of USD 56.2 million – a 3.3% year over year decrease. Net income showed an improvement from -19.5 million in the same quarter of the prior year to -14.3 million. The stock price reacted by moving down on the same day. For investors, the key takeaway is that while there is a dip in revenue and the net income is still in negative territory, the company is showing signs of improvement from the prior year, and should be watched for further performance indicators.
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