KORE Group Holdings, Inc.
3.5500-0.26 (-6.82%)
Oct 29, 4:00:02 PM EDT · NYSE · KORE · USD
Key Stats
Market Cap
62.10MP/E (TTM)
-Basic EPS (TTM)
-3.91Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
KORE Group Holdings posted Q2 revenue of $71.3 million, up 5% year-over-year but flat quarter-over-quarter, fueled by 41% growth in products to $14.9 million while services dipped 2% to $56.3 million from asset sales. Gross margin held at 35.1%, with operating loss narrowing to $5.2 million from $76.7 million a year ago, thanks to no goodwill impairment and SG&A cuts of 11% to $31.0 million. Net loss improved to $16.9 million ($0.86 per diluted share), versus $83.6 million ($4.37), driven by lower expenses offset by $13.2 million in interest; EPS aligns with 19.6 million weighted shares, though anti-dilution from RSUs and warrants applies. Cash climbed to $21.0 million with $25.0 million revolver availability, free cash flow at $2.2 million for the half-year (derived), but $302.2 million debt and $35.4 million accrued affiliate interest loom large. Restructuring sharpened focus on core IoT. Yet competition in connectivity erodes pricing power.
8-K
KORE Q2 revenue up 5%
KORE Group Holdings reported Q2 2025 revenue of $71.3 million, up 5% year-over-year, driven by 8% growth in total connections to 20.1 million. Adjusted EBITDA surged 46% to $16.7 million, while net loss narrowed 80% to $16.9 million, reflecting profitable expansion in IoT connectivity and solutions. The company added over 1.5 million connections in the past year. It reiterated full-year guidance of $288-298 million revenue and $62-67 million Adjusted EBITDA, though integration costs persist.
8-K
Stockholders approve board elections
KORE Group Holdings stockholders approved all board-recommended proposals at the June 10, 2025 annual meeting. Timothy M. Donahue, Cheemin Bo-Linn, Andrew Frey, and James Geisler were elected as Class I directors, securing board continuity through 2028. BDO USA, P.C. was ratified as independent auditors for the fiscal year ending December 31, 2025, with 96.35% support. Strong backing signals investor confidence in governance.
8-K
KORE CFO transition announced
KORE Group Holdings appointed Anthony Bellomo as Executive Vice President, Chief Financial Officer, and Treasurer effective June 2, 2025, succeeding Paul Holtz, who departed from the role on May 30 but will advise through June 30 for a smooth handover. Bellomo, with 15 years at Mitel Networks in finance and M&A, joins with a CAD$357,000 salary and 75% target bonus, plus a guaranteed CAD$267,750 for 2025. This leadership shift bolsters financial expertise amid KORE's push for profitable growth. Transition risks loom if integration falters.
8-K
KORE's restructuring boosts cash flow
KORE Group Holdings disclosed its investor presentation on May 28, 2025, highlighting operational restructuring that slashed headcount by 25% and generated $20-22 million in annual savings, while boosting Q4 2024 connectivity revenue to $56.5 million and free cash flow to $1.6 million. Q1 2025 showed continued progress with $0.6 million free cash flow and operating expenses down $7.6 million to $41.6 million, as connections neared 20 million. Restructuring costs hit $5-6 million. Guidance projects 2025 revenue of $288-298 million and adjusted EBITDA of $62-67 million. Positive cash flow persists.
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