Kornit Digital reports Q1 EPS 3c, consensus 6c
Reports Q1 revenue $38.2M, consensus $38.14M. Ronen Samuel, Kornit Digital's Chief Executive Officer, commented, "We kicked off 2019 with an excellent start. We delivered a record quarter of revenues from the sale of systems and service and an overall 22.6% revenue growth despite a one-time effect of approximately $2 million on our ink revenues derived from the timing of our transition to a fully direct business model in North America, and a greater impact from the warrants resulting from a higher share price. "This quarter, we experienced continued business momentum with our HD platforms and the roll-out of our odorless Eco Rapid consumables. We had an exceptionally strong start with our new product introductions with a double-digit number of customers placing orders for our newly launched Atlas and a strong and growing pipeline as it relates to the Poly Pro and Presto. We expect that these new products will have a material contribution to our revenues as early as Q2-2019." At December 31, 2019, the Company had cash, deposits and marketable securities of $124.3 million, and no long-term debt. Cash flow provided by operations was $0.4 million during the first quarter of 2019.