- Kornit Digital (NASDAQ:KRNT) now expects Non-GAAP revenue in Q3 to be in a range of ~$27M - $28.5M vs. a consensus of $36.13M and prior guidance range of $34M - $38M.
- Non-GAAP operating margin to be in a range of 3.0% to 5.0% of non-GAAP revenue, compared with its previously disclosed Q3 guidance of 13.0% to 17.0%.
- CEO Gabi Seligsohn: “We are disappointed in the further delay of a key customer's site launch which caused a significant reduction in our quarterly revenues. At the same time, this important customer remains committed to the Kornit platform and we stand ready to execute on the program when site permit issues abate. This issue notwithstanding, our underlying business continues to grow and we continue to drive meaningful progress in achieving our strategic objectives. During the third quarter we added two new Vulcan customers, received an order for multiple Storm Hexa systems from a leading Chinese e-commerce player and continued to increase sales of upgrades, bringing us close to our targeted breakeven point in our services business. I am confident that our strategy will allow us to continue to lead the DTG market as well as expand our position in the roll-to-roll market at a time when digital printing is enabling an online revolution.”
- Now read: Fortive Exceeding Expectations And Deploying Capital Into M&A
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