Second quarter revenues of $58.1 million of Kornit Digital, net of non-cash warrants impact of $4.5 million, in line with preliminary results issued on July 5, 2022. Second quarter GAAP operating loss of $24.9 million—non-GAAP operating loss of $18.3 million, net of $4.5 million attributed to the non-cash impact of warrants. Board of Directors approves $75 million share repurchase programme,
While the overall operating environment remains challenging, Kotnit Digital believes the industry will continue its long-term secular growth, fueled by the mega-trends we’ve discussed in the past. The company is navigating the current market dynamics by working closely with global brands, retailers and fulfillers to shift production volumes to on-demand, executing on new product introductions and adoption of these innovative technologies, and focusing on returning to profitability.
