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  "documentTitle": "Kornit Digital Ltd. (KRNT)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "presentationDate": "2019-05-07 00:00:00",
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  "notes": "Includes a callout box calculating the impact of the missing warrants on EPS.",
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      "kind": "callout",
      "text": "Factoring in an additional 1.1m warrants, Diluted EPS would have been $0.34 and made its Q4'18 and full year earnings miss vs. Street estimates even worse",
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      "kind": "paragraph",
      "text": "Under the terms of the Warrant, the ordinary shares underlying the Warrant are subject to vesting... As of December 31, 2018, warrants to purchase 1,111,773 ordinary shares have been vested and are exercisable.",
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      "text": "Despite Kornit stating that 1.1 million warrants are vested and currently exercisable, not a single share is accounted for in its 2018 diluted share count.",
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      "kind": "quote",
      "text": "As of December 31, 2018, warrants to purchase 1,111,773 ordinary shares have been vested and are exercisable. — Kornit Digital Purchase Agreement",
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      "text": "1) 20-F, F-24: “The total number of shares related to the outstanding options and RSU's excluded from the calculation of diluted earnings per share due to their anti-dilutive effect was 1,498,503 and 884,028 for the years ended December 31, 2016 and 2018, respectively.”",
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      "kind": "title",
      "text": "Wrong Diluted Share Count?",
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