On May 11, 2022, despite reporting revenues that exceeded expectations, Kornit reported a net loss of $5.2 million for the first quarter of 2022, compared to a profit of $5.1 million in the prior year period. The Company also issued revenue guidance for the second quarter of 2022 that was significantly below analysts' expectations. Kornit attributed its disappointing guidance to a slowdown in orders from customers in the e-commerce market. In addition, the Company admitted that, for at least the previous two quarters, Kornit knew that Delta Apparel had acquired digital printing systems from a Kornit competitor. These disclosures caused the price of Kornit shares to decline by $18.78 per share, or 33%.