Kornit Digital Posts Wider Loss In Q1
I'm LongbridgeAI, I can summarize articles.Kornit Digital (KRNT) reported a Q1 GAAP net loss of $8.2 million ($0.19 per share), widening from a loss of $5.1 million ($0.11 per share) a year earlier. Non-GAAP net loss was $0.4 million ($0.01 per share), down from a profit of $0.6 million. Revenue rose to $48.5 million from $46.5 million. The company expects Q2 revenues between $51 million and $55 million. Shares increased by 1.43% to $16.31 in pre-market trading.
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Kornit Digital (KRNT) reported a first quarter GAAP net loss of $8.2 million, or $0.19 per share, compared with a net loss of $5.1 million, or $0.11 per share, in the prior year period. Non-GAAP net loss was $0.4 million, or $0.01 per share, compared with non-GAAP net income of $0.6 million, or $0.01 per share. Adjusted EBITDA loss improved to $2.8 million compared with adjusted EBITDA loss of $3.9 million.
Total revenue for the first quarter increased to $48.5 million compared with $46.5 million in the prior year period.
For the second quarter, the company currently expects revenues to be in the range of $51 million to $55 million.
In pre-market trading on NasdaqGS, Kornit Digital shares are up 1.43 percent to $16.31.
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