Returned to revenue growth in 2025 with positive adjusted EBITDA and operating cash flow
Successful peak season drives 11% increase in full-year impressions
Ended 2025 with ~$25 million in ARR from AIC; Building a more recurring, predictable business model
ROSH-HA`AYIN, Israel, Feb. 11, 2026 (GLOBE NEWSWIRE) -- Kornit Digital Ltd. (“Kornit” or the “Company”) (Nasdaq: KRNT), a global leader in sustainable, on-demand, digital fashion and textile production, today reported financial results for the fourth quarter and full year ended December 31, 2025. The results reflect Kornit’s progress in accelerating digital adoption in mass apparel production, expanding recurring revenues under the Company’s All-Inclusive Click (AIC) model, and strengthening its industry leadership position by replacing traditional screen printing with agile, on-demand digital solutions.
“The fourth quarter capped a year of disciplined execution. We returned to full-year revenue growth, achieved positive adjusted EBITDA, and generated strong operating cash flow,” said Ronen Samuel, Chief Executive Officer of Kornit Digital. “A successful peak season helped drive full year impressions growth of 11%, demonstrating higher utilization across our installed base and increased adoption of digital production for longer runs. We exited the year with approximately $25 million in Annualized Recurring Revenue (ARR) from our All-Inclusive Click (AIC) program, and $15 million in AIC revenue for the full year, underscoring accelerating customer adoption.”
Mr. Samuel concluded, “We are entering 2026 with a growing pipeline of opportunities, and better visibility for the year. We expect to unveil breakthrough innovations this year designed to expand our addressable markets, accelerate digital adoption, and enable our customers to capture new growth opportunities. Our priorities remain clear: driving incremental impressions from the screen market, expanding the AIC program, and $15 million in AIC revenue for the full year, underscoring accelerating customer adoption.”
Fourth Quarter 2025 Results of Operations
- Total revenue for the fourth quarter of 2025 was $58.9 million compared with $60.7 million in the prior year period.
- GAAP gross profit margin for the fourth quarter of 2025 was 48.7% compared with 51.3% in the prior year period. On a non-GAAP basis, gross profit margin was 50.7% compared with 55.1% in the prior year period.
- GAAP operating expenses for the fourth quarter of 2025 were $32.2 million compared with $32.3 million in the prior year period. On a non-GAAP basis, operating expenses decreased by 3.1% to $27.1 million compared with the prior year period.
- GAAP net income for the fourth quarter of 2025 was $1.7 million, or $0.03 per diluted share, compared with net income of $2.2 million, or $0.05 per diluted share, in the prior year period.
- Non-GAAP net income for the fourth quarter of 2025 was $8.3 million, or $0.18 per diluted share, compared with non-GAAP net income of $8.7 million, or $0.18 per diluted share, in the prior year period.
- Adjusted EBITDA for the fourth quarter of 2025 was $5.5 million compared with adjusted EBITDA of $8.4 million for the fourth quarter of 2024. Adjusted EBITDA margin for the fourth quarter of 2025 was 9.3% compared with 13.8% in the prior year period.
Full Year 2025 Results of Operations
- Total revenue for the full year 2025 was $208.2 million compared with $203.8 million in the prior year period.
- GAAP gross profit margin for the full year 2025 was 44.3% compared with 45.0% in the prior year period. On a non-GAAP basis, gross profit margin was 47.2% compared with 48.6% in the prior year period.
- GAAP operating expenses for the full year 2025 were $126.8 million compared with $129.1 million in the prior year. On a non-GAAP basis, operating expenses decreased by 2.5% to $107.1 million compared with the prior year period.
- GAAP net loss for the full year 2025 was $13.5 million, or ($0.30) per diluted share, compared with net loss of $16.8 million, or ($0.35) per diluted share, for the full year 2024.
- Non-GAAP net income for the full year 2025 was $14.4 million, or $0.31 per diluted share, compared with non-GAAP net income of $10.1 million, or $0.20 per diluted share for the full year 2024.
- Adjusted EBITDA for the full year 2025 was $1.5 million compared with adjusted EBITDA of $0.3 million for the full year 2024. Adjusted EBITDA margin for the full year 2025 was 0.7% compared with 0.2% for the full year 2024.
First Quarter 2026 Guidance
For the first quarter of 2026, the Company currently expects revenues to be in the range of $45 million to $49 million and an adjusted EBITDA margin between negative 10% to negative 4% of revenue.
Earnings Conference Call Information
The Company will host a conference call today, February 11, 2026, at 8:30 a.m. ET, or 3:30 p.m. Israel time, to discuss the results, followed by a question-and-answer session with the investor community.
A live webcast of the call can be accessed at ir.kornit.com. To access the call, participants may dial toll-free at 1-877-407-0792 or 1-201-689-8263. The toll-free Israeli number is 1 809 406 247.
To listen to a replay of the conference call, dial toll-free 1-844-512-2921 or 1-412-317-6671 and enter confirmation code 13758004. The telephone replay will be available approximately three hours after the completion of the live call until 11:59 pm ET on February 25, 2026. The call will also be available for replay via the webcast link on Kornit’s Investor Relations website.
About Kornit Digital
Kornit Digital (NASDAQ: KRNT) is a worldwide market leader in sustainable, on-demand, digital fashion and textile production technologies. The Company offers end-to-end solutions including digital printing systems, inks, consumables, software, and fulfillment services through its global fulfillment network. Headquartered in Israel with offices in the USA, Europe, and Asia Pacific, Kornit Digital serves customers in more than 100 countries. To learn more, visit www.kornit.com.
Forward Looking 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 relating to the Company’s objectives, plans and strategies, including the Company’s AIC program, statements regarding the Company’s results of operations and financial condition, including the Company’s guidance for the first quarter of 2026, and all statements that address developments 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 assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things: the Company’s degree of success in developing, introducing and selling new or improved products and product enhancements including specifically the Company’s Poly Pro and Presto products, and the Company’s Apollo direct-to-garment platform; the extent of the Company’s ability to increase sales of its systems, ink and consumables; the extent of the Company’s ability to continue to grow customer adoption of the AIC model; the development of the market for digital textile printing generally; the Company’s securities class action litigation expenses; and those additional factors referred to under “Risk Factors” in Item 3.D of the Company’s Annual Report on Form 20-F for the year ended December 31, 2024, filed with the SEC on March 28, 2025. Any forward-looking statements in this press release are made as of the date hereof, and will not be updated by the Company, whether as a result of new information, future events or otherwise, except as required by law.
Non-GAAP Discussion Disclosure
The Company presents certain non-GAAP financial measures, in this press release and in the accompanying conference call to discuss the Company’s quarterly results. These non-GAAP financial measures reflect adjustments to corresponding GAAP financial measures in order to exclude the impact of the following: share-based compensation expenses; amortization of intangible assets; restructuring expenses; foreign exchange differences associated with ASC 842; and non-cash deferred tax income.
The Company defines “Adjusted EBITDA” as non-GAAP operating income (loss), which reflects the adjustments described in the preceding paragraph to the Company’s GAAP net income (loss), as further adjusted to exclude depreciation expense.
The purpose of the foregoing non-GAAP financial measures is to convey the Company’s performance exclusive of non-cash charges and other items that are considered by management to be outside of the Company’s core operating results. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Furthermore, the non-GAAP measures are regularly used internally to understand, manage, and evaluate the Company’s business and make operating decisions, and the Company believes that they are useful to investors as a consistent and comparable measure of the ongoing performance of the Company’s business. The Company’s non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies.
The reconciliation tables included below present a reconciliation of our non-GAAP financial measures to the most directly comparable GAAP financial measures.
Investor Contacts
Andrew G. Backman
Chief Capital Markets Officer
Andrew.Backman@kornit.com
| KORNIT DIGITAL LTD. | |||||||
| AND ITS SUBSIDIARIES | |||||||
| CONSOLIDATED BALANCE SHEETS | |||||||
| (U.S. dollars in thousands) | |||||||
| December 31, | December 31, | ||||||
| 2025 | 2024 | ||||||
| (Unaudited) | (Audited) | ||||||
| ASSETS | |||||||
| CURRENT ASSETS: | |||||||
| Cash and cash equivalents | $ | 35,476 | $ | 35,003 | |||
| Short-term bank deposit | 368,446 | 205,934 | |||||
| Marketable securities | 53,926 | 222,937 | |||||
| Trade receivables, net | 60,796 | 65,459 | |||||
| Inventory | 47,211 | 60,342 | |||||
| Other accounts receivable and prepaid expenses | 29,661 | 25,714 | |||||
| Total current assets | 595,516 | 615,389 | |||||
| LONG-TERM ASSETS: | |||||||
| Marketable securities | 33,332 | 48,086 | |||||
| Deposits and other long-term assets | 16,018 | 10,542 | |||||
| Severance pay fund | 385 | 306 | |||||
| Property, plant and equipment, net | 69,492 | 59,222 | |||||
| Operating lease right-of-use assets | 17,174 | 19,054 | |||||
| Intangible assets, net | 9,429 | 5,721 | |||||
| Goodwill | 29,164 | 29,164 | |||||
| Total long-term assets | 174,994 | 172,095 | |||||
| Total assets | 770,510 | 787,484 | |||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||
| CURRENT LIABILITIES: | |||||||
| Trade payables | 6,059 | 9,019 | |||||
| Employees and payroll accruals | 13,214 | 13,101 | |||||
| Deferred revenues and advances from customers | 1,529 | 2,339 | |||||
| Operating lease liabilities | 3,886 | 3,311 | |||||
| Other payables and accrued expenses | 17,305 | 16,561 | |||||
| Total current liabilities | 41,993 | 44,331 | |||||
| LONG-TERM LIABILITIES: | |||||||
| Accrued severance pay | 1,155 | 1,051 | |||||
| Operating lease liabilities | 14,727 | 15,065 | |||||
| Other long-term liabilities | 62 | 138 | |||||
| Total long-term liabilities | 15,944 | 16,254 | |||||
| SHAREHOLDERS' EQUITY | 712,573 | 726,899 | |||||
| Total liabilities and shareholders' equity | $ | 770,510 | $ | 787,484 | |||
| KORNIT DIGITAL LTD. | |||||||||||||||
| AND ITS SUBSIDIARIES | |||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| (U.S. dollars in thousands, except share and per share data) | |||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| (Unaudited) | (Unaudited) | (Audited) | |||||||||||||
| Revenues | |||||||||||||||
| Products | $ | 45,674 | $ | 47,711 | $ | 156,086 | $ | 148,086 | |||||||
| Services | 13,181 | 12,985 | 52,114 | 55,739 | |||||||||||
| Total revenues | 58,855 | 60,696 | 208,200 | 203,825 | |||||||||||
| Cost of revenues | |||||||||||||||
| Products | 17,733 | 18,088 | 67,468 | 61,697 | |||||||||||
| Services | 12,489 | 11,479 | 48,466 | 50,366 | |||||||||||
| Total cost of revenues | 30,222 | 29,567 | 115,934 | 112,063 | |||||||||||
| Gross profit | 28,633 | 31,129 | 92,266 | 91,762 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development, net | 10,297 | 9,781 | 37,731 | 41,578 | |||||||||||
| Sales and marketing | 14,559 | 15,200 | 58,722 | 58,413 | |||||||||||
| General and administrative | 7,360 | 7,358 | 30,385 | 29,086 | |||||||||||
| Total operating expenses | 32,216 | 32,339 | 126,838 | 129,077 | |||||||||||
| Operating loss | (3,583 | ) | (1,210 | ) | (34,572 | ) | (37,315 | ) | |||||||
| Financial income, net | 5,531 | 3,849 | 21,919 | 22,350 | |||||||||||
| Income (loss) before taxes on income | 1,948 | 2,639 | (12,653 | ) | (14,965 | ) | |||||||||
| Taxes on income | 297 | 423 | 865 | 1,835 | |||||||||||
| Net income (loss) | $ | 1,651 | $ | 2,216 | $ | (13,518 | ) | $ | (16,800 | ) | |||||
| Basic income (loss) per share | $ | 0.04 | $ | 0.05 | $ | (0.30 | ) | $ | (0.35 | ) | |||||
| Weighted average number of shares | |||||||||||||||
| used in computing basic net income (loss) per share | 45,103,991 | 47,180,390 | 45,244,517 | 47,482,820 | |||||||||||
| Diluted income (loss) per share | $ | 0.03 | $ | 0.05 | $ | (0.30 | ) | $ | (0.35 | ) | |||||
| Weighted average number of shares | |||||||||||||||
| used in computing diluted net income (loss) per share | 47,439,631 | 48,222,449 | 45,244,517 | 47,482,820 | |||||||||||
| KORNIT DIGITAL LTD. | ||||||||||||||||
| AND ITS SUBSIDIARIES | ||||||||||||||||
| RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
| (U.S. dollars in thousands, except share and per share data) | ||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| (Unaudited) | (Unaudited) | |||||||||||||||
| Revenues | $ | 58,855 | $ | 60,696 | $ | 208,200 | $ | 203,825 | ||||||||
| GAAP cost of revenues | $ | 30,222 | $ | 29,567 | $ | 115,934 | $ | 112,063 | ||||||||
| Cost of product recorded for share-based compensation (1) | (508 | ) | (524 | ) | (2,095 | ) | (2,018 | ) | ||||||||
| Cost of service recorded for share-based compensation (1) | (363 | ) | (409 | ) | (1,556 | ) | (1,703 | ) | ||||||||
| Intangible assets amortization on cost of product (2) | (151 | ) | (176 | ) | (601 | ) | (936 | ) | ||||||||
| Intangible assets amortization on cost of service (2) | (161 | ) | (160 | ) | (640 | ) | (640 | ) | ||||||||
| Restructuring expenses (3) | - | (1,067 | ) | (1,055 | ) | (1,981 | ) | |||||||||
| Non-GAAP cost of revenues | $ | 29,039 | $ | 27,231 | $ | 109,987 | $ | 104,785 | ||||||||
| GAAP gross profit | $ | 28,633 | $ | 31,129 | $ | 92,266 | $ | 91,762 | ||||||||
| Gross profit adjustments | 1,183 | 2,336 | 5,947 | 7,278 | ||||||||||||
| Non-GAAP gross profit | $ | 29,816 | $ | 33,465 | $ | 98,213 | $ | 99,040 | ||||||||
| GAAP operating expenses | $ | 32,216 | $ | 32,339 | $ | 126,838 | $ | 129,077 | ||||||||
| Share-based compensation (1) | (4,372 | ) | (4,151 | ) | (18,292 | ) | (18,035 | ) | ||||||||
| Intangible assets amortization (2) | (74 | ) | (88 | ) | (297 | ) | (350 | ) | ||||||||
| Restructuring expenses (3) | (633 | ) | (105 | ) | (1,180 | ) | (862 | ) | ||||||||
| Non-GAAP operating expenses | $ | 27,137 | $ | 27,995 | $ | 107,069 | $ | 109,830 | ||||||||
| GAAP Financial income, net | $ | 5,531 | $ | 3,849 | $ | 21,919 | $ | 22,350 | ||||||||
| Foreign exchange income (losses) associated with ASC 842 | 419 | (169 | ) | 2,155 | 388 | |||||||||||
| Non-GAAP Financial income, net | $ | 5,950 | $ | 3,680 | $ | 24,074 | $ | 22,738 | ||||||||
| GAAP Taxes on income | $ | 297 | $ | 423 | $ | 865 | $ | 1,835 | ||||||||
| Non-GAAP Taxes on income | $ | 297 | $ | 423 | $ | 865 | $ | 1,835 | ||||||||
| GAAP Net income (loss) | $ | 1,651 | $ | 2,216 | $ | (13,518 | ) | $ | (16,800 | ) | ||||||
| Share-based compensation (1) | 5,243 | 5,084 | 21,943 | 21,756 | ||||||||||||
| Intangible assets amortization (2) | 386 | 424 | 1,538 | 1,926 | ||||||||||||
| Restructuring expenses (3) | 633 | 1,172 | 2,235 | 2,843 | ||||||||||||
| Foreign exchange income (losses) associated with ASC 842 | 419 | (169 | ) | 2,155 | 388 | |||||||||||
| Non-GAAP net income | $ | 8,332 | $ | 8,727 | $ | 14,353 | $ | 10,113 | ||||||||
| GAAP diluted income (loss) per share | $ | 0.03 | $ | 0.05 | $ | (0.30 | ) | $ | (0.35 | ) | ||||||
| Non-GAAP diluted income per share | $ | 0.18 | $ | 0.18 | $ | 0.31 | $ | 0.20 | ||||||||
| Weighted average number of shares | ||||||||||||||||
| Shares used in computing GAAP diluted net income (loss) per share | 47,439,631 | 48,222,449 | 45,244,517 | 47,482,820 | ||||||||||||
| Shares used in computing Non-GAAP diluted net income per share | 47,439,631 | 49,868,143 | 46,136,365 | 49,341,794 | ||||||||||||
| (1) Share-based compensation | ||||||||||||||||
| Cost of product revenues | $ | 508 | $ | 524 | $ | 2,095 | $ | 2,018 | ||||||||
| Cost of service revenues | 363 | 409 | 1,556 | 1,703 | ||||||||||||
| Research and development | 1,168 | 1,255 | 4,777 | 5,310 | ||||||||||||
| Sales and marketing | 1,585 | 1,212 | 6,683 | 6,228 | ||||||||||||
| General and administrative | 1,619 | 1,684 | 6,832 | 6,497 | ||||||||||||
| $ | 5,243 | $ | 5,084 | $ | 21,943 | $ | 21,756 | |||||||||
| (2) Intangible assets amortization | ||||||||||||||||
| Cost of product revenues | $ | 151 | $ | 176 | $ | 601 | $ | 936 | ||||||||
| Cost of service revenues | 161 | 160 | 640 | 640 | ||||||||||||
| Sales and marketing | 74 | 88 | 297 | 350 | ||||||||||||
| $ | 386 | $ | 424 | $ | 1,538 | $ | 1,926 | |||||||||
| (3) Restructuring expenses | ||||||||||||||||
| Cost of product revenues | $ | - | $ | 818 | $ | 1,037 | $ | 1,683 | ||||||||
| Cost of service revenues | - | 249 | 18 | 298 | ||||||||||||
| Research and development | - | - | 44 | 235 | ||||||||||||
| Sales and marketing | 276 | - | 650 | 190 | ||||||||||||
| General and administrative | 357 | 105 | 486 | 437 | ||||||||||||
| $ | 633 | $ | 1,172 | $ | 2,235 | $ | 2,843 | |||||||||
| KORNIT DIGITAL LTD. | |||||||||||||||
| AND ITS SUBSIDIARIES | |||||||||||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||
| (U.S. dollars in thousands) | |||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| (Unaudited) | (Unaudited) | (Audited) | |||||||||||||
| Cash flows from operating activities: | |||||||||||||||
| Net income (loss) | $ | 1,651 | $ | 2,216 | $ | (13,518 | ) | $ | (16,800 | ) | |||||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||||||||
| Depreciation and amortization | 3,190 | 3,313 | 11,897 | 13,047 | |||||||||||
| Restructuring and other charges | 856 | 1,172 | 856 | 1,172 | |||||||||||
| Fair value of warrants deducted from revenues | - | - | - | 3,273 | |||||||||||
| Share-based compensation | 5,243 | 5,084 | 21,943 | 21,756 | |||||||||||
| Amortization of premium and accretion of discount on marketable securities, net | (179 | ) | (230 | ) | (953 | ) | (389 | ) | |||||||
| Realized loss on sale and redemption of marketable securities | - | (45 | ) | (58 | ) | (164 | ) | ||||||||
| Loss from disposal of property and Equipments | 117 | - | 273 | - | |||||||||||
| Change in operating assets and liabilities: | |||||||||||||||
| Trade receivables, net | 3,932 | 8,673 | 4,663 | 28,173 | |||||||||||
| Other accounts receivables and prepaid expenses | 1,339 | 1,795 | (4,540 | ) | 2,832 | ||||||||||
| Inventory | 1,402 | 2,875 | 9,677 | 3,005 | |||||||||||
| Operating leases right-of-use assets and liabilities, net | 456 | (266 | ) | 2,117 | (502 | ) | |||||||||
| Deposits and other long term assets | (1,744 | ) | (674 | ) | (5,476 | ) | (2,333 | ) | |||||||
| Trade payables | 165 | 3,856 | (3,787 | ) | 2,150 | ||||||||||
| Employees and payroll accruals | 992 | 1,020 | 1,980 | 2,456 | |||||||||||
| Deferred revenues and advances from customers | (203 | ) | 798 | (810 | ) | 181 | |||||||||
| Other payables and accrued expenses | (6,348 | ) | (2,950 | ) | 236 | (9,020 | ) | ||||||||
| Accrued severance pay, net | (232 | ) | 6 | 25 | (52 | ) | |||||||||
| Other long - term liabilities | (30 | ) | 20 | (76 | ) | (60 | ) | ||||||||
| Net cash provided by operating activities | 10,607 | 26,663 | 24,449 | 48,725 | |||||||||||
| Cash flows from investing activities: | |||||||||||||||
| Purchase of property, plant and equipment and capitalized software development costs | (8,138 | ) | (1,920 | ) | (21,274 | ) | (15,140 | ) | |||||||
| Proceeds from (investment in) short-term bank deposits, net | (30,643 | ) | (36,533 | ) | (162,512 | ) | 29,666 | ||||||||
| Proceeds from sales and redemption of marketable securities | 11,765 | 12,500 | 24,825 | 22,994 | |||||||||||
| Proceeds from maturities of marketable securities | 14,920 | 12,012 | 222,320 | 56,641 | |||||||||||
| Investment in marketable securities | - | (16,772 | ) | (60,226 | ) | (62,673 | ) | ||||||||
| Net cash provided by (used in) investing activities | (12,096 | ) | (30,713 | ) | 3,133 | 31,488 | |||||||||
| Cash flows from financing activities: | |||||||||||||||
| Exercise of employee stock options | - | 594 | 808 | 716 | |||||||||||
| Payments related to shares withheld for taxes | (240 | ) | (402 | ) | (1,867 | ) | (1,476 | ) | |||||||
| Repurchase of ordinary shares | (1,050 | ) | (75,000 | ) | (26,050 | ) | (84,055 | ) | |||||||
| Net cash used in financing activities | (1,290 | ) | (74,808 | ) | (27,109 | ) | (84,815 | ) | |||||||
| Increase (decrease) in cash and cash equivalents | (2,779 | ) | (78,858 | ) | 473 | (4,602 | ) | ||||||||
| Cash and cash equivalents at the beginning of the period | 38,255 | 113,861 | 35,003 | 39,605 | |||||||||||
| Cash and cash equivalents at the end of the period | $ | 35,476 | $ | 35,003 | $ | 35,476 | $ | 35,003 | |||||||
| Non-cash investing and financing activities: | |||||||||||||||
| Purchase of property and equipment on credit | 1,074 | 247 | 1,074 | 247 | |||||||||||
| Inventory transferred to be used as property and equipment | 445 | 3,156 | 3,744 | 4,732 | |||||||||||
| Property, plant and equipment transferred to be used as inventory | 56 | 47 | 290 | 367 | |||||||||||
| Lease liabilities arising from obtaining right-of-use assets | 372 | 623 | 1,630 | (448 | ) | ||||||||||
| KORNIT DIGITAL LTD. | ||||||||||||||||
| AND ITS SUBSIDIARIES | ||||||||||||||||
| RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA | ||||||||||||||||
| (U.S. dollars in thousands, except share and per share data) | ||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| (Unaudited) | (Unaudited) | |||||||||||||||
| GAAP Revenues | $ | 58,855 | $ | 60,696 | $ | 208,200 | $ | 203,825 | ||||||||
| GAAP Net income (loss) | 1,651 | 2,216 | (13,518 | ) | (16,800 | ) | ||||||||||
| Taxes on income | 297 | 423 | 865 | 1,835 | ||||||||||||
| Financial income | (5,531 | ) | (3,849 | ) | (21,919 | ) | (22,350 | ) | ||||||||
| Share-based compensation | 5,243 | 5,084 | 21,943 | 21,756 | ||||||||||||
| Intangible assets amortization | 386 | 424 | 1,538 | 1,926 | ||||||||||||
| Restructuring expenses | 633 | 1,172 | 2,235 | 2,843 | ||||||||||||
| Non-GAAP Operating income (loss) | 2,679 | 5,470 | (8,856 | ) | (10,790 | ) | ||||||||||
| Depreciation | 2,804 | 2,889 | 10,359 | 11,121 | ||||||||||||
| Adjusted EBITDA | $ | 5,483 | $ | 8,359 | $ | 1,503 | $ | 331 | ||||||||
