KRNT - Kornit Digital Q1 results beat estimates with revenue +152%

Kornit Digital ([[KRNT]] -0.5%) negative after Q1 results despite beating estimates, with revenues of $66.1M (+152% Y/Y); and adj. net income of $7.7M compared to loss of $9.81M a year ago.Adj. gross margin expanded by 1,403 bps to 47.1%; and adj. operating margin of 9.1%.Net cash provided by operating activities for the quarter was $5.12M, compared to cash used $13.12M a year ago.Company says strong first quarter results, were driven by a record quarter for mass production system shipments.“The launch of our Max technology establishes a new standard for on-demand fashion and apparel production and significantly expands our addressable market into lucrative new segments. Our first product release, the ATLAS MAX, is just the beginning of revolutionary future new products coming from the MAX line, which will unlock additional huge market segments,” commented Ronen Samuel, CEO.Previously: Kornit Digital EPS beats by $0.03, beats on revenue (May 11)

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Kornit Digital Q1 results beat estimates, with revenue +152%