Kornit Digital Ltd. (KRNT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la impresión textil digital, Kornit Digital Ltd. (KRNT) surge como una fuerza transformadora, revolucionando cómo las marcas de ropa y moda se acercan a la producción sostenible a pedido. Al combinar sin problemas la tecnología de vanguardia con soluciones ecológicas, Kornit ha creado un modelo de negocio único que interrumpe los paradigmas de fabricación textil tradicional. Su enfoque innovador no solo aborda las preocupaciones ambientales, sino que también brinda a los fabricantes y marcas flexibilidad sin precedentes, capacidades de impresión de alta calidad y soluciones eficientes de flujo de trabajo que están reformando el futuro de la producción textil.

Kornit Digital Ltd. (KRNT) - Modelo de negocios: asociaciones clave

Colaboraciones estratégicas con fabricantes de textiles y marcas de ropa

Kornit Digital mantiene asociaciones clave con los principales fabricantes de textiles y marcas de ropa:

Pareja	Tipo de colaboración	Año establecido
Nike	Integración de tecnología de impresión digital	2020
Adidas	Soluciones de impresión sostenibles	2019
Zara	Plataforma de fabricación a pedido	2021

Asociaciones con proveedores de tecnología de impresión digital

Kornit Digital colabora con proveedores de tecnología para mejorar las capacidades de impresión:

• Ricoh Corporation - PRINTTHEAD TECNOLOGY SOCISTIA
• EPSON - Sistemas de gestión de color y suministro de tinta
• HP Inc. - Desarrollo de tecnología de impresión textil digital

Relaciones con plataformas de comercio electrónico y servicios de impresión a pedido

Las asociaciones estratégicas con plataformas de comercio electrónico incluyen:

Plataforma	Nivel de integración	Volumen de transacción anual
Estampado	Integración completa del flujo de trabajo	$ 125 millones
Tacha	Soluciones de impresión directa	$ 87 millones
Tinta personalizada	Tecnologías de impresión avanzadas	$ 62 millones

Alianzas con desarrolladores de software para la integración del flujo de trabajo

Las asociaciones de desarrollo de software se centran en:

• Adobe Systems - Optimización de flujo de trabajo de diseño
• Lectra - Integración de software de diseño textil digital
• SAP - Soluciones de planificación de recursos empresariales

Cooperación con organizaciones textiles centradas en la sostenibilidad

Las asociaciones de sostenibilidad incluyen:

Organización	Área de enfoque	Impacto colaborativo
Intercambio textil	Prácticas textiles sostenibles	El uso reducido del agua en un 85%
Agenda de moda global	Iniciativas de moda circular	Programa de reducción de emisiones de carbono
Instituto de Recursos Mundiales	Estándares ambientales	Protocolos de fabricación sostenibles

Kornit Digital Ltd. (KRNT) - Modelo de negocio: actividades clave

Desarrollo de tecnología de impresión textil digital

Inversión en I + D en 2023: $ 39.1 millones

Área de enfoque tecnológico	Inversión anual	Solicitudes de patentes
Tecnología directa a la cena	$ 15.2 millones	12 nuevas patentes
Soluciones de impresión sostenibles	$ 8.7 millones	7 nuevas patentes

Investigación e innovación en soluciones de impresión sostenible

• Presupuesto de desarrollo de tinta ecológico: $ 5.6 millones
• Inversión en tecnología de reducción de agua: $ 3.2 millones
• Iniciativas de reducción de huella de carbono: $ 2.9 millones

Fabricación de sistemas de impresión directos a la prenda y directo

Línea de productos	Unidades de producción anuales	Ubicación de fabricación
Impresoras Atlas DTG	1.200 unidades	Israel, EE. UU.
Impresoras de tela de avalancha	800 unidades	Israel

Desarrollo de software para la gestión de impresiones y optimización del flujo de trabajo

Equipo de desarrollo de software: 87 ingenieros

Presupuesto anual de desarrollo de software: $ 12.4 millones

• Desarrollo de la plataforma de flujo de trabajo digital
• Soluciones de gestión de impresiones basadas en la nube
• Integración de aprendizaje automático

Servicios globales de ventas y atención al cliente

Región	Tamaño del equipo de ventas	Centros de apoyo
América del norte	42 representantes de ventas	3 centros de apoyo
Europa	35 representantes de ventas	4 centros de apoyo
Asia-Pacífico	28 representantes de ventas	2 centros de apoyo

Presupuesto global de atención al cliente: $ 7.8 millones

Kornit Digital Ltd. (KRNT) - Modelo de negocio: recursos clave

Tecnología de impresión digital avanzada y patentes

Kornit Digital posee 218 patentes registradas a partir de 2023, con un enfoque en las tecnologías de impresión textil digital.

Categoría de patente	Número de patentes
Tecnologías de impresión digital	127
Formulación de tinta	46
Innovaciones de procesos de impresión	45

Equipos especializados de ingeniería y I + D

Kornit Digital invirtió $ 39.2 millones en gastos de investigación y desarrollo en 2022.

• Tamaño del equipo de I + D: aproximadamente 180 ingenieros e investigadores
• Lugares de ingeniería: Israel, EE. UU., Alemania
• Experiencia promedio del equipo de I+ D: más de 12 años en tecnologías de impresión digital

Instalaciones de fabricación

Kornit Digital opera centros de fabricación en múltiples ubicaciones globales.

Ubicación	Tipo de instalación	Capacidad de producción
Israel	Manufactura principal	500 máquinas de impresión digital por año
EE.UU	Ensamblaje y prueba	250 máquinas de impresión digital por año
Alemania	Centro de producción europeo	200 máquinas de impresión digital por año

Propiedad intelectual y tecnologías de impresión propietarias

Las tecnologías propietarias de Kornit Digital incluyen:

• Tecnología de tinta de neopigment
• Plataforma de impresión de Avalanche HD
• Sistemas de impresión digital directa a la cena

Reputación de la marca

Métricas de posicionamiento de mercado para Kornit Digital en impresión textil digital:

Métrico de mercado	Valor
Cuota de mercado global	22.5%
Tasa de retención de clientes	87%
Puntuación de satisfacción del cliente	4.6/5

Kornit Digital Ltd. (KRNT) - Modelo de negocio: propuestas de valor

Soluciones de impresión textiles ecológicas y sostenibles

Las soluciones ecológicas de Kornit Digital demuestran una reducción significativa del impacto ambiental:

Métrica ambiental	Porcentaje de reducción
Uso de agua	95%
Consumo químico	85%
Huella de carbono	70%

Capacidades de producción a pedido y de bajo volumen

Métricas de eficiencia de producción:

• Cantidad mínima de pedido: 1 pieza
• Tiempo de respuesta de producción: 24-48 horas
• Velocidad de impresión: hasta 30 prendas por hora

Tecnología de impresión digital de alta calidad, vibrante y duradera

Parámetro de calidad de impresión	Especificación
Resolución	1200 DPI
Precisión del color	99.5%
Durabilidad de lavado	50+ ciclos de lavado

Reducción de agua y uso de productos químicos en el proceso de impresión textil

Consumo comparativo de recursos:

Recurso	Método tradicional	Método digital de Kornit
Consumo de agua (litros/kg)	100-150	5-10
Uso químico (kg/kg)	0.5-0.8	0.05-0.1

Soluciones de impresión flexibles y eficientes para varias aplicaciones textiles

Aplicaciones textiles compatibles:

• Vestir
• Textiles del hogar
• Ropa de deporte
• Accesorios
• Textiles industriales

Kornit Digital Ltd. (KRNT) - Modelo de negocios: relaciones con los clientes

Equipos directos de ventas y soporte técnico

Kornit Digital mantiene un equipo global de ventas directas en múltiples regiones, incluidas América del Norte, Europa y Asia. A partir de 2023, la compañía reportó 246 personal de ventas y soporte a tiempo completo dedicado a las interacciones del cliente.

Región	Tamaño del equipo de ventas	Personal de apoyo técnico
América del norte	85	42
Europa	73	38
Asia-Pacífico	54	29

Portales de clientes en línea y recursos de capacitación

Kornit Digital proporciona soporte integral en línea a través de sus plataformas digitales:

• Plataforma de la Academia Digital con 12,784 usuarios registrados a partir del cuarto trimestre de 2023
• Portal de soporte técnico en línea 24/7
• Biblioteca de capacitación en video con 327 módulos de instrucción técnica

Consultoría personalizada para la implementación y optimización del flujo de trabajo

La compañía ofrece servicios de consultoría especializados con especialistas de implementación dedicados. En 2023, Kornit Digital informó:

• 87 consultores de implementación dedicados
• Tiempo promedio de optimización del proyecto: 4-6 semanas
• Tasa de satisfacción del cliente para los servicios de implementación: 94.3%

Actualizaciones de tecnología regulares y mejoras de software

Métrica de actualización de software	2023 datos
Actualizaciones anuales de software	7
Tiempo de desarrollo de actualización promedio	3.2 meses
Tasa de actualizaciones de adopción del cliente	86%

Participación continua del cliente a través de eventos y talleres de la industria

Kornit Digital invierte significativamente en la participación del cliente a través de eventos de la industria:

• Organizó 42 talleres de la industria a nivel mundial en 2023
• Participó en 18 principales conferencias de tecnología textil y de impresión
• Asistencia de eventos digitales y en persona: 3,456 clientes únicos

Kornit Digital Ltd. (KRNT) - Modelo de negocio: canales

Equipo de ventas directo dirigido a fabricantes textiles

Kornit Digital mantiene un equipo global de ventas directas con 187 representantes de ventas a partir del cuarto trimestre de 2023. El equipo cubre regiones geográficas clave que incluyen:

Región	Número de representantes de ventas
América del norte	62
Europa	54
Asia Pacífico	41
Resto del mundo	30

Plataformas de comercio electrónico en línea

Kornit Digital utiliza canales de ventas digitales con $ 89.3 millones generados a través de plataformas en línea en 2023.

Ferias y exhibiciones de la industria

Kornit Digital participó en 24 ferias internacionales en 2023, con ventas totales relacionadas con la exhibición que alcanzaron los $ 12.5 millones.

Marketing digital y seminarios técnicos

• 62 seminarios técnicos realizados en 2023
• Asistencia promedio de seminarios web: 347 participantes
• Presupuesto de marketing digital: $ 4.2 millones en 2023

Revendedores autorizados y redes de distribución

Región	Número de revendedores autorizados	Ingresos por distribución
América del norte	34	$ 22.7 millones
Europa	47	$ 18.3 millones
Asia Pacífico	29	$ 15.6 millones

Kornit Digital Ltd. (KRNT) - Modelo de negocio: segmentos de clientes

Marcas de ropa y moda

Kornit Digital sirve marcas globales de ropa y moda con soluciones de impresión textil digital. A partir de 2023, la compañía informó haber servido a más de 1,000 clientes de marca de moda directa en todo el mundo.

Segmento de mercado	Conteo de clientes	Contribución de ingresos
Marcas de moda de alta gama	250	38% de los ingresos por impresión textil
Marcas de moda del mercado medio	450	42% de los ingresos por impresión textil
Marcas de moda emergentes	300	20% de los ingresos por impresión textil

Fabricantes de textiles

Kornit Digital apunta a los fabricantes de textiles industriales en múltiples regiones.

• Fabricantes textiles de América del Norte: 175 clientes activos
• Fabricantes textiles europeos: 220 clientes activos
• Fabricantes textiles asiáticos: 350 clientes activos

Proveedores de servicios de impresión a pedido

A partir de 2023, Kornit Digital reportó 500 clientes activos de proveedores de servicios de impresión en demanda a nivel mundial.

Región	Clientes impresos	Ingresos anuales promedio por cliente
Estados Unidos	250	$275,000
Europa	150	$225,000
Asia-Pacífico	100	$190,000

Productores de mercancías personalizados

Kornit Digital atiende a 350 productores de mercancías personalizadas en varias industrias en 2023.

• Mercancía deportiva: 120 clientes
• Mercancía corporativa: 90 clientes
• Mercancía de eventos: 140 clientes

Empresas textiles sostenibles y ecológicas

En 2023, Kornit Digital reportó 275 clientes de empresas textiles sostenibles que utilizan sus tecnologías de impresión ecológicas.

Enfoque de sostenibilidad	Conteo de clientes	Tasa de adopción de tecnología
Fabricantes de cero desechos	75	92%
Usuarios de material reciclado	125	88%
Marcas neutrales en carbono	75	95%

Kornit Digital Ltd. (KRNT) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2022, Kornit Digital invirtió $ 36.3 millones en gastos de investigación y desarrollo, lo que representa el 15.7% de los ingresos totales.

Año	Inversión de I + D	Porcentaje de ingresos
2022	$ 36.3 millones	15.7%
2021	$ 30.2 millones	14.5%

Gastos de fabricación y producción

El costo total de ingresos de Kornit Digital para 2022 fue de $ 138.9 millones, lo que incluye costos directos de fabricación y producción.

• Instalaciones de producción ubicadas en Israel y Estados Unidos
• Costos generales de fabricación estimados en aproximadamente $ 42.5 millones en 2022
• Costos laborales directos para la producción: $ 24.6 millones

Operaciones globales de ventas y marketing

Los gastos de ventas y marketing para Kornit Digital en 2022 totalizaron $ 64.2 millones, lo que representa el 27.7% de los ingresos totales.

Categoría de gastos	Cantidad	Porcentaje de ingresos
Ventas y marketing	$ 64.2 millones	27.7%

Mantenimiento de la infraestructura tecnológica

La infraestructura tecnológica anual y los costos de mantenimiento de TI fueron de aproximadamente $ 8.7 millones en 2022.

• Gastos de infraestructura en la nube: $ 3.2 millones
• Sistemas de TI y mantenimiento de la red: $ 5.5 millones

Innovación y mejora de productos continuos

El desarrollo de productos y los costos de innovación se integraron dentro de la inversión de I + D de $ 36.3 millones en 2022.

Áreas de enfoque de innovación	Inversión estimada
Tecnología de impresión digital	$ 18.5 millones
Soluciones de impresión sostenibles	$ 10.2 millones
Desarrollo de software	$ 7.6 millones

Kornit Digital Ltd. (KRNT) - Modelo de negocios: flujos de ingresos

Ventas de sistemas de impresión digital

En el año fiscal 2023, Kornit Digital reportó ingresos totales de $ 394.8 millones, con ventas del sistema de impresión digital que contribuyen con una porción significativa.

Categoría de productos	Ingresos (2023)	Porcentaje de ingresos totales
Sistemas de impresión industrial	$ 217.3 millones	55.04%
Directamente a los sistemas de prendas	$ 136.5 millones	34.58%

Software recurrente y contratos de mantenimiento

Kornit Digital genera ingresos recurrentes a partir de acuerdos de software y mantenimiento.

• Ingresos anuales de suscripción de software: $ 24.6 millones
• Valor promedio del contrato de mantenimiento: $ 15,000- $ 25,000 por sistema anualmente

Consumibles y ventas de tinta

Los consumibles representan un flujo de ingresos recurrente crítico para Kornit Digital.

Tipo consumible	Ingresos anuales	Margen bruto
Ventas de tinta	$ 86.2 millones	62%
Accesorios de impresión	$ 32.4 millones	45%

Servicio de soporte técnico y capacitación

Los servicios de soporte técnico contribuyen al modelo de ingresos de Kornit Digital.

• Ingresos anuales de soporte técnico: $ 18.7 millones
• Paquete de servicio promedio de capacitación: $ 5,500 por cliente

Licencias de tecnologías de impresión

La licencia de tecnología proporciona un flujo de ingresos adicional para Kornit Digital.

Categoría de licencias	Ingresos anuales de licencia
Licencias de tecnología	$ 7.3 millones
Licencia de patente	$ 2.1 millones

Kornit Digital Ltd. (KRNT) - Canvas Business Model: Value Propositions

You're looking at how Kornit Digital Ltd. is positioning its technology to disrupt the massive, yet often wasteful, textile industry. The core value is shifting production from slow, bulk methods to agile, digital, on-demand manufacturing. This isn't just about faster printing; it's about fundamentally changing inventory risk for brands.

Sustainable, on-demand digital fashion and textile production

Kornit Digital Ltd. offers a value proposition rooted in sustainability, which is increasingly critical for brands. Digital pigment-based printing, for example, can cut down on resource use significantly compared to older methods. Data shows this technology can reduce water usage by up to 95% and energy consumption by 60% when using pigment ink. This aligns with the broader market trend where 49% of consumers report they would overpay for sustainable print-on-demand products. The global digital textile printing market itself is estimated to be valued at USD 2.90 Bn in 2025, showing the scale of this shift. The Direct to Garment segment, where Kornit plays, held an estimated market share of 41.73% in 2025.

The agility of the on-demand model is key to reducing waste associated with overproduction. You see this in the company's focus on the print-on-demand (POD) space, which experts project will reach $8.16 billion in 2025.

Replacing traditional screen printing for bulk apparel

Kornit Digital Ltd. is actively targeting the mass production segment, which was traditionally the sole domain of screen printing. Their systems are designed to bridge this gap, creating a new category called Mass Digital Production. The Apollo system, for instance, is a major part of this push, capable of delivering up to 400 garments per hour. The Atlas MAX Plus system complements this by producing up to 150 impressions per hour. This high-throughput capability allows customers to move significant volumes digitally, tapping into a market opportunity estimated at 4.5 billion impressions in terms of SAM (Serviceable Addressable Market).

Here's a quick look at the financial and operational traction Kornit Digital Ltd. showed through the first three quarters of 2025:

Metric	Q1 2025	Q2 2025	Q3 2025
Total Revenue (USD Millions)	46.5	49.8	53.1
Annual Recurring Revenue from AIC (USD Millions)	14.5	18.9	21.5
Non-GAAP Net Income (USD Millions)	0.6 (Income)	1.2 (Income)	4.2 (Income)
Adjusted EBITDA Margin (%)	-8.4% (Loss)	-2.3% (Loss)	2.0%

Lowering customer barrier to entry via the AIC usage-based model

The All-Inclusive Click (AIC) model is designed to lower the initial capital expenditure hurdle for customers, especially those coming from traditional screen printing. It shifts the cost structure to a usage-based fee, which is clearly gaining traction. You can see this in the growth of the associated recurring revenue stream. The Annual Recurring Revenue from AIC contracts grew from $14.5 million in Q1 2025 to $18.9 million in Q2 2025, and further to $21.5 million in Q3 2025. This consistent quarter-over-quarter growth in recurring revenue reflects the model becoming the preferred structure for scaling digital production.

High-quality, retail-grade output with 3D and DTFilm capabilities

The value proposition isn't just about volume; it's about premium quality that meets retail standards across diverse applications. A concrete example of this capability is in the footwear market. As of the third quarter of 2025, Kornit Digital Ltd.'s breakthrough digital solution was already producing more than one million pairs of shoes for leading brands. This demonstrates the technology's ability to handle complex, high-quality output beyond standard apparel.

Agility and speed for brands to reduce markdowns and stock-outs

The speed of digital production directly translates into reduced inventory risk for brands, which is a major financial benefit. By enabling true on-demand manufacturing, the need to guess future demand is minimized, thus lowering the risk of end-of-season markdowns or missing out on sales due to stock-outs. The ability of the Apollo system to process up to 400 garments per hour is the mechanism that delivers this speed at scale. This agility is what allows customers to respond to trends in real-time, a necessity in today's market. If onboarding takes 14+ days, churn risk rises.

Kornit Digital Ltd. (KRNT) - Canvas Business Model: Customer Relationships

You're looking at how Kornit Digital Ltd. locks in its customers for the long haul, moving beyond just selling machines to creating ongoing partnerships. This is all about recurring revenue and making sure their technology is deeply embedded in the customer's daily operations.

Long-term, performance-based contracts under the AIC model are central to this. The All-Inclusive Click (AIC) model ties Kornit Digital Ltd.'s revenue directly to customer output, which builds long-term partnerships focused on performance and shared growth. Here's how the annual recurring revenue from this model has progressed through 2025:

Period End Date	Annual Recurring Revenue from AIC Contracts
March 31, 2025 (Q1)	$14.5 million
June 30, 2025 (Q2)	$18.9 million
September 30, 2025 (Q3)	$21.5 million
To Date (as of Q3 2025)	$23.1 million

This growth shows the model is gaining traction, becoming the preferred way for customers to scale their digital production across different regions.

Direct engagement to drive system utilization and impression growth is the engine behind the AIC model's success. Kornit Digital Ltd. is focused on unlocking the mass production segment, which is a massive opportunity estimated at a Serviceable Addressable Market (SAM) of 4.5 billion impressions. The high-throughput Kornit Apollo system is key here, capable of producing up to 400 impressions per hour. This focus on utilization is also pushing into new areas; as of the third quarter of 2025, their breakthrough digital solution in footwear is already producing more than one million pairs of shoes for leading brands.

Dedicated account management for large-fleet customers is evident in the expansion commitments from major users. For instance, Monster Digital committed to adopting 10 additional Kornit Apollo systems in 2025, signaling a deep, fleet-level reliance on the technology for bulk production.

The company fosters a sense of belonging and shared learning through its community initiatives. Kornit Konnections community for networking and shared growth is supported by major events:

• Kornit Konnections 2025 took place in Miami from April 27-29.
• The inaugural Evolve Summit, a free virtual event under the Konnections banner, was scheduled for October 29-30, 2025, aiming to gather over 500 attendees from the global ecosystem.
• Kornit Digital Ltd. planned to feature more than 40 customers and partners at the PRINTING United Expo Orlando 2025 to discuss their successes.

Finally, high-touch support for system installation and utilization is implied by the focus on execution and scaling. The company is working to ensure customers realize the full potential of systems like the Apollo and Atlas MAX PLUS, which are driving the shift from traditional screen printing.

Kornit Digital Ltd. (KRNT) - Canvas Business Model: Channels

You're looking at how Kornit Digital Ltd. gets its technology and recurring revenue into the hands of textile producers as of late 2025. The channel strategy is clearly shifting toward usage-based models, which is where the real stickiness is found.

Direct sales force for high-value system and AIC contracts

The direct team is focused on landing the big system sales and locking in those All-Inclusive Click (AIC) contracts. This model is key to Kornit Digital's transformation strategy, moving away from pure capital expenditure (CapEx) sales to predictable revenue. The success here is visible in the recurring revenue figures.

• Annual recurring revenue from AIC contracts reached $21.5 million in Q3 2025.
• The year-to-date AIC annual recurring revenue as of Q3 2025 stood at $23.1 million.
• As of Q1 2025, over 80% of Kornit Digital's total revenue was recurring or highly predictable.
• The company is seeing traction from screen-printing customers embracing digital for the first time.

Here's the quick math on the usage side, which directly feeds the AIC channel: Trailing 12-month impressions hit a record 222 million in Q1 2025, which was up 10% compared to the previous 12-month period.

Global network of distributors and local service partners

Kornit Digital maintains a broad international footprint to support its hardware and consumables sales. This network is defintely crucial for global reach and local service delivery. They serve customers in more than 100 countries and states worldwide.

The company maintains offices in key regions, including the USA, Europe, and Asia Pacific.

A significant channel expansion move involved a May 2025 partnership with Gooten to access Kornit Digital's Global Fulfillment Network at over 250 locations.

The following table summarizes some key operational and financial metrics relevant to the scale of Kornit Digital's reach and the recurring revenue it generates through its installed base:

Metric	Value (As of Late 2025 Data)	Period/Context
Trailing 12-Month Revenue	$210M	As of 30-Sep-2025
Q3 2025 Revenue	$53.1 million	Up 5% year-over-year
Q3 2025 Adjusted EBITDA Margin	2%	Positive result
Footwear Pairs Produced Digitally	More than one million pairs	For leading brands (as of Q3 2025)

KornitX digital platform for connecting demand generators to fulfillers

The KornitX platform is designed to bridge the gap between brands/demand generators and the production capacity available through Kornit Digital's ecosystem. This digital layer validates the demand side of the on-demand equation. The Apollo platform rollout is directly linked to this, as it unlocks mass production capabilities.

• Monster Digital committed to adopting 10 additional Kornit Apollo systems in 2025.
• The Apollo platform is designed to enhance throughput by 50% for apparel and home decor sectors.

Industry trade shows and expos for product demonstration

Physical presence at major industry events is a core channel for demonstrating new systems like the Apollo and Presto Max and engaging with the market. Kornit Digital actively participates to showcase its technology replacing traditional methods.

• Kornit Digital attended FESPA 2025 on May 7th, 2025.
• The company showcased its Presto Max at ITMA Asia 2025 in Singapore in September 2025.
• Kornit Digital announced a strategic collaboration for Leicester Made 2025.

Finance: draft 13-week cash view by Friday.

Kornit Digital Ltd. (KRNT) - Canvas Business Model: Customer Segments

You're looking at the core groups Kornit Digital Ltd. targets with its digital textile production technology as of late 2025. The focus is clearly shifting toward high-volume, recurring revenue streams.

Large global brands and retailers seeking mass customization are a primary driver, especially with the adoption of the Apollo platform. This segment is key to unlocking the mass production opportunity.

• Kornit Digital's addressable market for bulk production runs below one thousand units is estimated at approximately 6 billion impressions.
• Across early Apollo users, systems now average more than one million impressions annually.
• Approximately 25% of bulk apparel jobs run on Kornit systems are now above 500 copies.

Traditional screen-printing businesses transitioning to digital represent a significant conversion opportunity. The All-Inclusive Click (AIC) model is designed to ease this transition, making the shift to digital more predictable for these established players.

• Annual recurring revenue from the AIC model reached $21.5 million in the third quarter of 2025, reflecting continued adoption.
• AIC contracted annual recurring revenue reached $23.1 million to date as of Q3 2025.
• The company maintains a focus on growing the number of screen-printing customers it serves.

Customized design and print-on-demand service providers continue to be a base, with many of the installed base customers showing strong growth. The top 20 customers, for instance, are reportedly growing very strong.

New vertical markets, specifically footwear manufacturers, are showing breakthrough adoption. Kornit Digital is actively extending its reach here.

• The digital solution in the footwear market is already producing more than one million pairs of shoes for leading brands.

High-volume fulfillers, including early adopters like T-Shirt & Sons, are utilizing the high-throughput Apollo system. The company noted that of the Apollo and Atlas MAX PLUS systems sold in 2025, 40% were to new customers, suggesting expansion within this fulfillment tier.

Here's a quick look at the financial context surrounding these customer activities as of the third quarter of 2025:

Metric	Value (Q3 2025)	Context
Total Revenue	$53.1 million	Year-over-year increase of 5%.
Adjusted EBITDA Margin	2.0%	Positive result, up from negative margins in prior periods.
AIC Annual Recurring Revenue (Q3)	$21.5 million	Reflects usage-based model traction.
Systems Sold to New Customers (2025)	40%	Percentage of Apollo and Atlas MAX PLUS systems sold to new customers.

The overall performance reflects Kornit Digital's execution toward transforming into a business driven by recurring revenues, with Q3 2025 revenues of $53.1 million and a positive adjusted EBITDA of $1.1 million.

Kornit Digital Ltd. (KRNT) - Canvas Business Model: Cost Structure

You're looking at the expense side of Kornit Digital Ltd.'s operations as of late 2025, and it's clear that scaling their digital printing technology requires significant upfront and ongoing investment. The cost structure is heavily weighted toward delivering the core technology and supporting the recurring revenue model.

The Cost of Revenues (CoR) for the third quarter of 2025 stood at $30.045 million. This figure directly impacts the gross margin, which was reported at 45.8% on a non-GAAP basis for Q3 2025, down from 50.3% in Q3 2024. The year-over-year decline in gross margin was attributed to inventory-related adjustments, U.S. tariff costs, and lower service gross margin, as expected.

Kornit Digital Ltd. maintains a significant commitment to innovation, reflected in its Research and Development (R&D) spending. For Q3 2025, the reported R&D cost was $9.013 million. This investment is crucial for maintaining technological leadership and developing solutions for adjacent markets, like the footwear sector, where they have already produced over one million shoe uppers using their technology.

Total Operating Expenses, on a non-GAAP basis, totaled $25.8 million in Q3 2025, representing a decrease of about 3.7% from $26.8 million in the same period last year. This cost control effort is part of the disciplined execution to drive profitability. Here's a quick look at how those non-GAAP operating expenses were allocated:

Expense Category	Q3 2025 Amount (in millions)	Q3 2024 Amount (in millions)
Research & Development	$7.8	$8.6
Sales & Marketing	$12.0	$12.7
General & Administrative	$6.0	$5.5
Total Non-GAAP Operating Expenses	$25.8	$26.8

The shift to the All-Inclusive Click (AIC) model directly impacts capital-related costs. The costs associated with building and maintaining the AIC equipment fleet are recognized through capital expenditures. For Q3 2025, the cash flow less capital expenditures, which includes investment in equipment on lease for AIC, was $0.8 million. This is a deliberate prioritization over traditional CapEx sales, which means upfront investment costs are absorbed now for future recurring revenue.

The cost structure also includes variable expenses tied to the recurring revenue stream. Global logistics and inventory costs for consumables are a key component, as consumables sales and revenue from the AIC model drove growth in Product revenues in Q3 2025. However, management noted that consumables revenue was softer than expected due to inventory adjustments at key customers, suggesting that managing this inventory pipeline efficiently is a constant cost consideration.

You can see the major cost drivers broken down:

• High Cost of Revenues impacting gross margins.
• Significant R&D spend of $9.013 million in Q3 2025.
• Operating expenses managed down to $25.8 million (Non-GAAP).
• Upfront investment in AIC equipment on lease impacting cash flow.
• Inventory management for consumables tied to usage-based revenue.

Finance: draft 13-week cash view by Friday.

Kornit Digital Ltd. (KRNT) - Canvas Business Model: Revenue Streams

You're looking at how Kornit Digital Ltd. actually brings in money as they push hard into the usage-based model. It's a deliberate pivot away from just selling big-ticket items, which naturally changes how revenue looks quarter-to-quarter. Honestly, this transition is the biggest story in their current financial structure.

System sales (CapEx model) for digital printers still exist, but the strategic emphasis is clearly shifting. The company is building momentum in bulk apparel production with systems like Apollo and Atlas MAX PLUS installations, but the focus is on migrating these sales to a recurring structure. For context, total revenue in Q3 2025 was $53.1 million, up 5% year-over-year, but the mix is changing.

Consumables revenue (inks, pre-treatment) from the installed base is a traditional component, but the AIC model is designed to bundle this into a single usage fee, making it less visible as a standalone stream. What this estimate hides is the exact split between pure consumables and the AIC-driven usage fees for Q3 2025.

All-Inclusive Click (AIC) usage-based fees represent the future for Kornit Digital Ltd. This model removes upfront barriers for customers, especially those moving from screen printing. The momentum here is strong; Annual Recurring Revenue (ARR) from AIC reached $21.5 million in Q3 2025. That's up from $18.9 million in Q2 2025. By the time of the November 5, 2025 earnings call, management noted that ARR had already expanded to $23.1 million. About 80% of Apollo systems operate under this AIC model now. This is their clear differentiator.

Service and support revenue, including system upgrades, is another reoccurring component they are building up, alongside the AIC ARR. The company noted that service revenue is reoccurring, but the primary driver for the recurring revenue acceleration is the AIC model.

Here's the quick math on the near-term outlook, which shows the expected revenue impact of this model shift:

Kornit Digital Ltd.'s Q4 2025 revenue guidance is between $56 million and $60 million. This guidance, management acknowledged, implies a year-over-year decline, which is a direct result of prioritizing the shift from one-time CapEx sales to the usage-based AIC model where revenue is recognized over time.

To map out the financial context around this revenue transition, look at these key figures from the Q3 2025 results:

Financial Metric	Amount/Range	Period/Context
Q3 2025 Total Revenue	$53.1 million	Reported Revenue
Q4 2025 Revenue Guidance	$56 million to $60 million	Full Year Outlook
AIC ARR (End of Q3 2025)	$21.5 million	Usage-Based Recurring Revenue
AIC ARR (As of Nov 5, 2025)	$23.1 million	Updated Recurring Revenue
Q3 2025 Adjusted EBITDA Margin	2.0%	Profitability on Recognized Revenue
Q4 2025 Adjusted EBITDA Margin Guidance	7% to 10%	Profitability Outlook

The success of the strategy is also visible in market penetration and operational cash flow:

• GAAP net loss for Q3 2025 was $2.6 million.
• Non-GAAP net income for Q3 2025 was $4.2 million.
• Operating cash flow was $4,300,000 in Q3 2025.
• Cash flow less capital expenditures (including AIC equipment) was $800,000 in Q3 2025.
• North America currently accounts for approximately 65% of revenue.
• Kornit Digital Ltd. is producing more than one million pairs of shoes digitally for leading brands in the footwear market.

Finance: review the cash flow impact of the $800,000 cash flow less CapEx for Q3 2025 against the Q4 guidance by Monday.