Kornit Digital Reports Record Fourth Quarter and Full-Year 2021 Results

• Record fourth quarter revenue of $87.5 million, net of non-cash warrants impact of $7.9 million; Full-Year 2021 revenue up 67% year-over-year to $322.0 million, net of non-cash warrants impact of $25.4 million

• Fourth quarter GAAP net income of $1.0 million; Full-Year 2021 GAAP net income of $15.5 million

• Fourth quarter Non-GAAP net income of $6.4 million, net of non-cash warrants impact of $7.9 million; Full-Year 2021 Non-GAAP net income of $36.1 million, net of non-cash warrants impact of $25.4 million

• Fourth quarter cash from operations of $9.3 million; Full-Year 2021 cash from operations of $52.5 million Record quarter for consumables and services, driven by a strong peak season

• Strong system sales in fourth quarter with ATLAS MAX exceeding expectations Entering 2022 with very strong backlog and visibility

• Major new product introductions starting in first quarter 2022

Kornit Digital Ltd. (NASDAQ: KRNT), a worldwide market leader in sustainable, on-demand, digital fashionx and textile production technologies, reported today results for the fourth quarter and full year ended December 31, 2021.

“2021 was a pivotal year for Kornit,” said Ronen Samuel, Kornit Digital’s Chief Executive Officer. “What we accomplished this past quarter, and over the entire year, reflects outstanding execution on the huge market opportunity we are pursuing and the strength of our unique business model. The mega trends that have been fueling our business are intensifying, traditional textile supply chains are completely broken at this point, and the need for digital on-demand, sustainable production continues accelerating.”

Mr. Samuel added, “We enter 2022 for what will be one of the busiest and most exciting years in the history of Kornit; a year with strong growth and a remarkable pipeline of ground-breaking new product introductions, starting already in the first quarter. We have never been in a better position as a company and we are extremely confident in our ability to meet our $1B revenue goal by 2026, if not before.”