Kornit Digital Ord (KRNT) said before open Wednesday that it lost $0.31 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $58.1 million, missing estimates by $4.1 million.
In the same quarter a year ago, the company earned $0.22 per share on revenue of $81.7 million.
The stock is up 17.46% to $34.85 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Kornit Digital Ord a Bearish Sentiment Rank from InvestorsObserver.
Kornit Digital Ord has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 2, putting Kornit Digital Ord in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $20.4 on July 6, 2022 and set a 52-week high on November 19, 2021 at $181.38.
Kornit Digital Ltd develops, designs and markets digital printing solutions for the global printed textile industry. The company focuses on its DTG and DTF segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software and value-added services that allow for large scale printing of short runs of complex images and designs directly on finished garments and fabrics. It has developed and offers a broad portfolio of differentiated digital printing solutions for the DTG market that provide answers to challenges faced by participants in the global printed textile industry. It generates revenue from sales of systems, ink and other consumables and service including software subscriptions.
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Kornit Digital Ord Up 17.46% To $34.85 After Earnings Beat
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