Kodak Full-Year Report 2022

Full-year 2022 highlights include:

• Consolidated revenues of $1.205 billion, compared with $1.150 billion for the full year 2021, an increase of $55 million or 5 percent (increased by $125 million on a constant currency basis, or 11 percent)
• Gross profit percentage of 14 percent, flat compared to 2021
• GAAP net income of $26 million, compared with $24 million for 2021, an increase of 8 percent
• Operational EBITDA of $18 million, compared with $11 million for 2021, an increase of 64 percent
• A year-end cash balance of $217 million, compared with $362 million at the end of 2021

Our priorities for 2022 included providing our customers with uninterrupted supplies, reducing costs by improving operational efficiency and implementing pricing actions to realize the value of our offerings, which contributed to a year-over-year increase in gross profit for the fourth quarter.

GAAP net income was $26 million for the full year, compared to $24 million in 2021 an increase of 8 percent. Operational EBITDA for the year ended December 31, 2022 was $18 million, compared to $11 million in 2021, an increase of 64 percent. The increase was primarily driven by the growth in revenue due to improved pricing, partially offset by higher continued ongoing global cost increases and the unfavorable impact of foreign exchange.