Kodak Full-Year Report 2023

“After almost five years of executing our plan, we saw our efforts start to come to fruition in 2023, delivering year-over-year improvements in gross profit and Operational EBITDA and building a strong foundation for growth,” said Jim Continenza, Kodak’s Executive Chairman and CEO.

Highlights

• Consolidated revenues of $1.117 billion, compared with $1.205 billion for the full year 2022, a decrease of $88 million or 7 percent (decreased by $89 million on a constant currency basis, or 7 percent)
• Gross profit of $210 million, compared with $170 million for full year 2022, an increase of $40 million or 24 percent
• Gross profit percentage of 19 percent, compared to 14 percent in the prior year, an increase of 5 percentage points
• GAAP net income of $75 million, compared with $26 million for 2022, an increase of $49 million or 188 percent
• Operational EBITDA of $45 million, compared with $18 million for 2022, an increase of $27 million or 150 percent
• A year-end cash balance of $255 million, compared with $217 million on December 31, 2022, an increase of $38 million; cash flow from operations improved by $154 million from the prior period