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Thyme Digital
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(NYSE: KRNT), which develops and manufactures digital printing machines on textiles, reported revenue of $ 87.5 million in the fourth quarter, neutralizing nearly $ 7.9 million attributed to the accounting effect of warrants for Amazon’s investment and compared to the previous quarter. $ 1 million net of the $ 1.8 million also attributed to Amazon. Analysts expected $ 89.7 million.
Net income on a non-GAAP basis amounted to $ 6.4 million or $ 0.29 per share, of which $ 0.16 was cleared as a result of the Amazon transaction, thus the company actually earned $ 0.13 per share, compared to a non-GAAP earnings of $ 11.5 million or 0.24 Dollars per share. The market forecast was $ 0.24 per share.
For each year 2021
Revenue for the full year was approximately $ 322 million, net of $ 25.4 million attributable to Amazon, compared to $ 19.3.3 million, net of approximately $ 5.4 million in the same period last year.
Net income on a non-GAAP basis for all of 2021 was approximately $ 36.1 million or $ 0.74 per share, compared to a non-GAAP earnings of $ 9 million or $ 0.21 per share last year.
And what happens next?
For the first quarter, the company expects revenues in the range of $ 87 to 91 million, reflecting a lack of growth of 0.5% and up to a growth of about 4%. Non-GAAP operating profit is expected to range between 7% and 9% of revenue and EBIDTA between 9% and 11%. In this forecast, the Company assumes that the fair value effect of the warrants issued in the quarter will be zero.
The company further said that it expects higher operating profitability in the second, third and fourth quarters of the year, compared to the first quarter, and that operating profitability in the quarters of the second half of the year is expected to be in the ‘mid-teens’.
Ronen Samuel, CEO of Kornit Digital: “The same trends that pushed our activities are intensifying:, The traditional supply chain of the textile industry is completely broken and disintegrating at this stage, and the need for digital production on demand and environmentally friendly is growing. 2022 is expected to be a year with strong growth and new and groundbreaking products. the first one. The company is expected to meet a revenue target of $ 1 billion in 2026“If not before.”
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