Ron Totton appointed President and CEO and to the KORE Board of Directors Restructuring estimated to generate gross cash savings of $5 million to $6 million in 2024 with a $4 million to $5 million one-time severance charge and $20 million to $22 million gross cash savings annually thereafter 2024 guidance updated ATLANTA, Aug. 15, 2024 /PRNewswire/ -- KORE Group Holdings, Inc. (NYSE: KORE) ("KORE" or the "Company"), the global pure-play Internet of Things ("IoT") hyperscaler and provider of IoT Connectivity ...

EXHIBIT 10.1 EXECUTIVE EMPLOYMENT AGREEMENT THIS EXECUTIVE EMPLOYMENT AGREEMENT (this "Agreement") is made as of August 14, 2024 (the "Effective Date"), by and among KORE Group Holdings, Inc. (the "Company"), KORE Wireless Group Inc. ("KORE") and Ronald Totton (the "Executive"). Certain capitalized terms used in this Agreement are defined in Section 10. WHEREAS, on April 29, 2024, the Company and the Executive entered into that certain Letter Agreement whereby the Executive was employed by the Company as th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________ FORM 10-Q _____________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-40856 _____________________________ KORE Group Holdings, Inc. (Exact name of registrant as specified in ...

ATLANTA, Aug. 7, 2024 /PRNewswire/ -- KORE Group Holdings, Inc. (NYSE: KORE) ("KORE" or the "Company"), the global pure-play Internet of Things ("IoT") hyperscaler, and provider of IoT Connectivity, Solutions and Analytics announced that on August 15, 2024, before the U.S. market opens it will release its financial results for the second quarter of 2024. KORE will host a live webcast, followed by a question-andanswer period the same day at 8:30 a.m. Eastern time (5:30 a.m. Pacific time) to discuss the finan ...

ATLANTA, July 8, 2024 /PRNewswire/ -- KORE Group Holdings, Inc. (NYSE:KORE) ("KORE," the "Company," "we" or "our), a global leader in Internet of Things ("IoT") Solutions and pioneering IoT hyperscaler, announced that Bruce Gordon has joined as Executive Vice President and Chief Operating Officer (COO), effective July 2, 2024. In connection with his employment, the Company made a grant to Gordon of an aggregate of 100,000 restricted stock units ("RSUs"), where each RSU represents the right to receive one sh ...

The primary goal of the reverse stock split is to increase the per share market price of the Company's common stock to meet the minimum per share price requirement for continued listing on the NYSE. The reverse stock split was approved by the Company's stockholders at its annual meeting of stockholders held on June 12, 2024. On June 21, 2024, the Company's Board of Directors approved the reverse stock split at the ratio of 1-for-5. Continental Stock Transfer & Trust ("Continental"), the Company's transfer a ...

KORE Group Holdings, Inc. (NYSE:KORE) Q1 2024 Earnings Conference Call May 15, 2024 5:00 PM ET Company Participants Vik Vijayvergiya - Director, Investor Relations Ronald Totton - Interim President and Chief Executive Officer Paul Holtz - EVP, Chief Financial Officer and Treasurer Conference Call Participants Lance Vitanza - TD Cowen Karan Juvekar - Morgan Stanley Scott Searle - Roth MKM Operator Greetings, and welcome to the KORE Group Holdings’ Inc. First Quarter 2024 Earnings Call. [Operator Instructions ...

Revenue Performance - Total revenue for the three months ended March 31, 2024, was $75.975 million, representing a 15% increase from $65.975 million in the same period of 2023[93]. - Revenue from IoT Connectivity services increased by approximately $14.3 million, or 33%, driven primarily by the acquisition of Twilio's IoT business[95]. - Revenue from IoT Solutions declined by approximately $4.3 million, or 19%, primarily due to reduced demand from major customers[96]. - Services revenue growth of approximately $12.1 million was driven by new customer business and increased connectivity utilization[93]. Cost Analysis - Cost of services increased by $7.4 million, or 44.8%, primarily due to additional carrier costs related to the Twilio acquisition[98]. - Cost of products decreased by $3.5 million, or 25.5%, due to lower hardware sales volume from existing IoT Solutions customers[100]. - Overall blended cost of revenue as a percentage of revenue was 55.0% for the three months ended March 31, 2024, compared to 54.0% in the same period of 2023[99]. - The cost of IoT Connectivity increased by $7.5 million, or 49.6%, primarily due to additional carrier costs and increased connectivity consumption[100]. - The cost of IoT Solutions decreased by $3.6 million, or 23.9%, primarily due to lower costs associated with reduced revenue from existing customers[102]. Operating Expenses - Selling, general, and administrative (SG&A) expenses increased by $5,526 thousand, or 18%, from $30,011 thousand in Q1 2023 to $35,537 thousand in Q1 2024, primarily due to higher salaries, benefits, and increased license and subscription costs[104]. - There were no SG&A expenses incurred with affiliates in Q1 2024, a decrease of 100% from $189 thousand in Q1 2023, following the termination of a technical assistance services agreement[105]. Financial Performance - EBITDA for Q1 2024 was $8,239 thousand, an increase from $5,461 thousand in Q1 2023, while Adjusted EBITDA rose to $14,757 thousand from $13,328 thousand[110]. - The Dollar-Based Net Expansion Rate (DBNER) decreased to 94% for the twelve months ended March 31, 2024, down from 107% for the same period in 2023, primarily due to reduced IoT solutions revenue from certain customers[120]. Debt and Financing - As of March 31, 2024, total long-term debt and other borrowings, net, amounted to $295,984 thousand, a slight decrease from $296,109 thousand as of December 31, 2023[125]. - The Company entered into a credit agreement with WhiteHorse Capital Management, consisting of a senior secured term loan of $185 million and a revolving credit facility of $25 million, effective November 15, 2023[126]. - Principal payments of approximately $0.5 million are due on the last business day of each quarter, with the maturity date of the Credit Facilities set for November 15, 2028[127]. - The Credit Facilities are secured by substantially all of the Company's subsidiaries' assets and are subject to customary financial covenants, including Total Net Leverage Ratio and First Lien Net Leverage Ratio[129]. - The Total Net Leverage Ratio is set at 6.25:1.00 for the quarterly periods ending March 31, 2024, and June 30, 2024, decreasing to 5.25:1.00 for periods ending December 31, 2025, and thereafter[131]. - The Backstop Notes consist of $95.1 million in senior unsecured exchangeable notes due 2028, with a second tranche of $24.9 million issued later[132]. - The Backstop Notes bear interest at a rate of 5.50% per annum, with the potential to exchange into approximately 9.6 million shares of common stock at a Base Exchange Rate of $12.50 per share[133]. - The Company has authorized 35,000,000 shares of preferred stock, with 152,857 shares of Series A-1 preferred stock issued, mandatorily redeemable for cash on November 15, 2033[136]. - The Series A-1 preferred stock accrues dividends at a rate of 13% per year, compounded and payable quarterly, with approximately $7.6 million in interest liability currently owed[139][144]. Cash Flow - Cash provided by operating activities for the three months ended March 31, 2024, was $1.904 million, a slight decrease from $1.915 million in 2023[140]. - Cash used in investing activities for the three months ended March 31, 2024, was $4.685 million, primarily for investments in internally developed software and property and equipment[142]. - Cash used in financing activities for the three months ended March 31, 2024, was $1.180 million, mainly due to scheduled principal payments on the Term Loan[143]. - The Company had a total of $46.3 million in purchase commitments payable that were not recorded as liabilities on the balance sheet as of March 31, 2024[145]. - The Company plans to defer cash payment of interest on the Series A-1 preferred stock to preserve cash for other purposes[144]. Market Environment - The overall macroeconomic environment remains challenging, with high interest rates and persistent inflation impacting business demand for IoT solutions[88]. - The sales funnel as of March 31, 2024, included over 1,190 opportunities with an estimated potential Total Contract Value (TCV) of over $422 million, compared to over 1,400 opportunities with a TCV of over $500 million as of March 31, 2023[122].

EXHIBIT 99.1 KORE Reports First Quarter 2024 Results ATLANTA – May 15, 2024 – KORE Group Holdings, Inc. (NYSE: KORE) ("KORE" or the "Company"), the global pure-play Internet of Things ("IoT") hyperscaler and provider of IoT Connectivity, Solutions, and Analytics, today reported financial and operational results for the quarter ended March 31, 2024. Company Highlights "KORE delivered solid results in the first quarter driven by investments in IoT Connectivity and organic growth," said Ron Totton, Interim Pre ...

ATLANTA, May 9, 2024 /PRNewswire/ -- KORE Group Holdings, Inc. (NYSE: KORE) ("KORE" or the "Company"), the global pure-play Internet of Things ("IoT") hyperscaler, and provider of IoT Connectivity, Solutions and Analytics announced that on May 15, 2024, after the U.S. market closes it will release its financial results for the first quarter of 2024. KORE will host a live webcast, followed by a question-and-answer period the same day at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss the financial ...