Kornit Digital

Kornit Digital Ltd
Public company
Traded as (NASDAQ: KRNT)
Industry Printing
Founded 2002 (2002)
Headquarters Rosh HaAyin, Israel
Products Direct to garment printers
Revenue Increase US$ 66.36 million (2014)
Increase US$ 3.82 million (2014)
Increase US$ 3.02 million (2014)
Number of employees
 251 (2014)
Website kornit.com

Kornit Digital(NASDAQ: KRNT) is an international manufacturing company, based in Israel. It produces high-speed industrial inkjet printers, and pigmented ink and chemical products for the garment and apparel decorating industry.[1] Kornit Digital is an international company with offices located in Israel, Hong Kong,[2] US, and Germany. The company's CEO has been Ofer Ben Zur since 2002 and the manager of Kornit's R&D department.[3]

History

The company was founded in 2003 by workers previously in the digital printing field. The company uses the same technology used in digital printing and has applied it to digital textile printing, which has developed more slowly than the field of digital printing. Consistently introducing cutting edge innovations, Kornit was the first to enable digital printing on dark garments in 2006. The full portfolio of products support a wide range of applications and market segments. Kornit is staffed by some of the world's most capable executives. The multidisciplinary team boasts tremendous international hi-tech experience with deep roots in the garment printing industry. in 2004 – Kornit first presentation of printers at SGIA 2004 in Minneapolis, a global exhibition: Kornit 930 and Kornit 931. in 2005 – Kornit first delivery of 931–002: Timberline, Colorado. in 2006 Kornit creates White Ink and is the first to enable digital printing on dark garments. in 2006 Cafe Press buys 20 Kornit printers. 2007 Kornit Digital North America opens. 2008 Kornit HQ moves to the Afek Industrial Park in Rosh Ha'Ayin, Israel. 2009 Kornit Breeze is launched, providing an entry-level digital solution. 2010 Kornit Digital Asia-Pacific and Kornit Digital Europe open. 2010 – Kornit Avalanche is launched, enabling digital mass production. 2011 Kornit's launches V223, the first organic ink, to address the growing sustainability trend. 2012 Approaching the Roll to Roll market with the development of the Kornit Allegro. 2015 Kornit Digital goes public Nasdaq: NASDAQ: KRNT.[4]

Facilities

Kornit maintains a staff of 350 employees and a network of distributors worldwide. Headquarters are located in Rosh Haayin, Israel, with a fully owned manufacturing plant in Kiryat Gat. Subsidiaries are located in Hong Kong, Milwaukee, Dusseldorf, and there is a sales and business development office in Shanghai.

Products and technologies

Kornit Digital's sells direct to garment printers of different varieties.[5] Its printers come with RIP software customized to each machine.

Kornit's machines use a pre-treatment wetting process that is integrated into the printer, which it calls The PreT System.[6] This enables printing on the garment without the need for manual pre-treatment of any kind, by applying a fixation agent automatically on press, immediately prior to the print process. This process makes wet-on-wet printing possible, reducing time usually spent on manual pre-treatment.

The company also provides a process which enables printing on dark garments.[6] This process includes coating finished garments with a white coat of ink created from patented inks formed from CMYK.[7] Kornit's ink plant in Kiryat Gat produces CMYK and white ink for its customers.[8]

Its inks have received Oeko-Tex approval in the industry.[9]

Kornit offers a full line of DTG printers for all business sizes, and a single-step printing process for a wide range of roll to roll applications. The system offers excellent printing performance on any material, including light and dark fabric. Patented biodegradable ink and energy saving process results in a low eco-footprint. All of Kornit's DTG products leverage an integrated pre-treatment process, providing significant reductions in equipment, time and manpower costs. Garments arrive ready to print – there's no need for pre-treatment fluids or heat press, with an increased processing speed. The company manufactures a full line of printers for a scalable, integrated and seamless solution.

Kornit's Patented NeoPigment Solution

Designed especially to for Kornit's printers, the patented Neopigment "wet-on-wet" process integrates fixation fluids directly into the printing procedure, completely eliminating the need for pre-treatment. Pigment is integrated directly into printhead nozzles – saving time, money and manpower. Fluid is dispersed on printed area only – for a clean and precise operation, and smaller drops of ink result in a better handfeel, and a cost effective process. The patented water based ink produces vivid color prints, an unprecedented gamut range, deeper black (K) and brilliant white performance – exceeding industry standards for color quality and fastness on any fabric. This results in fast, cost-efficient and exact production and an end product with exceptional printing quality, and a velvety handfeel.

Corporate affairs

Kornit Digital serves an addressable market of $165B annual output of printed textiles, and has demonstrated a CAGE growth rate of 30% over the last 3 years. An attractive business model contributes to significant revenue growth with substantial recurring revenues, and the company invests in research & development sales & marketing to support growth. Financial flexibility is driven by debt-free minimal working capital & capex and a long-term favorable tax position balance sheet. In April 2015 Kornit went public, launching its IPO and trading on Nasdaq: NASDAQ: KRNT

Corporate responsibility

Kornit has developed an eco-oriented printing process. The sustainable products and energy saving process incorporate a fixation fluid into the printing system, significantly reduces mess, waste and material costs and makes Kornit an eco-friendly printing solution. Kornit complies with industry standards Oeko-Tex 100, Global Organic Textile (GOTS), and American Association of Textile Chemists & Colorists (AATCC).

References

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