Entering text into the input field will update the search result below

Kornit Digital stock tumbles postmarket on lower-than-expected prelim Q2 revenue

Jul. 05, 2022 4:28 PM ETKornit Digital Ltd. (KRNT)By: Jessica Kuruthukulangara, SA News Editor5 Comments

Close-up of Purple Cloth at Textile Equipment"s Conveyor Belt

zorazhuang/iStock via Getty Images

Kornit Digital (NASDAQ:KRNT) stock tumbled 24% postmarket on Tuesday after the company reported prelim. Q2 revenue well below Street estimates, citing macro headwinds.

KRNT projects Q2 revenue of $56.4M-$59.4M, net of non-cash warrant impact of ~$4.6M, vs.

Recommended For You

Comments (5)

Have a tip? Submit confidentially to our News team. Found a factual error? Report here.

I am surprised by the revenue miss and the negative growth, this stock was a favorite of hedge funds during FY21 and was a regular occurrence in 13F filings of a number of hedge funds. Only good thing is the cash on balance sheet. May be a good bet if trades for cash balance where you get the business for free. As Warren Buffet said 'Textile is a terrible business' to be in seems to be very true.
Peter Balint profile picture
@Moksha83 they are facing headwinds from the current macro environment. They will be fine again. Its just a good opportunity to buy a good asset cheaper.
@Peter Balint I agree, just that it is not predictable and I generally don't like non-recurring business such as this with limited recurring revenues. But I might buy it if it trades close to cash balance at which points it becomes a value play.
Wow!I remember seeing this stock in Early 2019 at 21bucks. Then watched it zoom up to 150bucks and I kicked myself for not buying!
If AH plays out......This market has no mercy!
Peter Balint profile picture
@Tambo210 this one is deserved. They will have a negative growth this year.
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.