Kornit sales soar as DTG gathers pace

Direct to garment solution developer Kornit achieved record fourth quarter revenue, saw a 67 per cent increase in its full year, and says it is on track to achieve its $1bn revenue figure by 2026, three times higher than its current level.

Full-year 2021 revenue was up by two thirds year-over-year to US$322m, with its record fourth quarter revenue of $87.5m, as its CEO describes traditional textile supply chains as "completely broken."

The company - whose products are sold and serviced by Kissel + Wolf in Australia - said it was a record quarter for consumables and services, driven by a strong peak season, and says it achieved strong system sales in fourth quarter with Atlas Max "exceeding expectations."

It says it is entering the new year with “strong backlog and visibility”, and will be making major new product introductions starting in first quarter.

“2021 was a pivotal year for Kornit,” said Ronen Samuel, Kornit Digital CEO. “What we accomplished this past quarter, and over the entire year, reflects outstanding execution on the huge market opportunity we are pursuing and the strength of our business model.

“The mega trends that have been fuelling our business are intensifying, traditional textile supply chains are completely broken at this point, and the need for digital on-demand, sustainable production continues accelerating.”

Samuel added, “We enter 2022 for what will be one of the busiest and most exciting years in the history of Kornit; a year with strong growth and a remarkable pipeline of ground-breaking new product introductions, starting already in the first quarter. We have never been in a better position as a company and we are extremely confident in our ability to meet our $1bn revenue goal by 2026, if not before.”

Kornit develops and manufactures digital direct to garment print systems for cotton, polyester and mixes. It is benefitting from the global shipping crisis which is driving on-shoring, as well as the demand for personalised garments. Kornit is sold and serviced by Kissel + Wolf here.