KORE Group Holdings, Inc. (KORE) came out with a quarterly loss of $1 per share versus the Zacks Consensus Estimate of a loss of $1.13. This compares to loss of $1.95 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.50%. A quarter ago, it was expected that this company would post a loss of $0.68 per share when it actually produced a loss of $0.99, delivering a surprise of -45.59%.Over the last four quarters, the company has ...

KORE 1 T h i r d Q u a r t e r 2 0 2 4 E a r n i n g s P r e s e n t a t i o n November 19, 2024 KORE Di scl aime rs Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. KORE's actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looki ...

Financial Performance - Third quarter 2024 revenue was $68.9 million, a 0.4% increase from $68.6 million in the same period last year[3] - Net loss for Q3 2024 was $19.4 million, an 80% decrease from a net loss of $95.4 million in the same period last year[4] - Adjusted EBITDA for Q3 2024 was $13.0 million, an 8% decrease from $14.2 million in the same period last year[4] - KORE Group Holdings reported a net loss of $19.4 million for Q3 2024, compared to a net loss of $95.4 million in Q3 2023[34] - Adjusted EBITDA for Q3 2024 was $12.99 million, down from $14.16 million in Q3 2023, reflecting a decrease of approximately 8.5%[34] - The company generated $7.07 million in net cash from operating activities for the nine months ended September 30, 2024, compared to $4.49 million in the same period of 2023[36] - Free cash flow for the nine months ended September 30, 2024, was negative $5.11 million, an improvement from negative $11.1 million in the prior year[36] Revenue Breakdown - IoT Connectivity revenue increased by 3% to $56.7 million, while IoT Solutions revenue decreased by 9% to $12.2 million due to winding down lower margin hardware business[3] - Average Revenue Per User (ARPU) was approximately $1.01 per month, up from $0.98 in the same period last year[9] - The company maintained a DBNER of 95% for Q3 2024, slightly down from 96% in the same period last year[9] - Closed-won Total Contract Value (TCV) for Q3 2024 was $32 million, a 19% increase from $27 million in the same period last year[5] Future Outlook - For the 12 months ending December 31, 2024, the company expects revenue in the range of $280 million to $285 million and Adjusted EBITDA in the range of $54 million to $55 million[12] - KORE anticipates future revenue growth and profitability from its restructuring plan, with guidance for 2024 yet to be fully detailed[31] Operational Changes - Integration-related restructuring costs amounted to $5.57 million in Q3 2024, compared to $3.01 million in Q3 2023, indicating increased expenses related to acquisitions[34] - The company is actively pursuing the integration of Twilio's IoT business, which is expected to enhance operational performance and efficiency[31] Interest and Expenses - The company reported a significant increase in interest expense, totaling $13.06 million in Q3 2024, compared to $10.62 million in Q3 2023[34] Strategic Focus - KORE's total contract value (TCV) of signed contracts and potential revenue opportunities is a key focus for future growth, although specific figures were not disclosed[31] - KORE's management emphasizes the importance of navigating risks related to competition and market conditions as part of their strategic outlook[31]

Restructuring plan completed Growth in Connectivity and Connections On track to meet 2024 guidanceATLANTA, Nov. 19, 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, today reported financial and operational results for the three and nine months ended September 30, 2024.Q3 Highlights Third quarter 2024 revenue was $68.9 million, a 0.4% increase from $ ...

Company to restate Second Quarter 2024 Financial StatementsNo impact to Revenues, Cash Flows or Adjusted EBITDA expected for the period affectedATLANTA, Nov. 12, 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 it expects to restate its second quarter 2024 financial statements and, as a result, is rescheduling the release of the Company's ...

ATLANTA, Oct. 31, 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 November 13, 2024, following the U.S. market closing it will release its financial results for the third 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 t ...

KORE intends to cure the deficiency and return to compliance with NYSE listing standard ATLANTA , Sept. 16, 2024 /PRNewswire/ -- KORE Group Holdings, Inc. (NYSE: KORE) ("KORE" or the "Company"), a global leader in Internet of Things ("IoT") solutions and pioneering IoT hyperscaler, announced that on September 12, 2024, it received a notice ("Notice") from the New York Stock Exchange ("NYSE") notifying KORE that that it is not in compliance with Section 802.01B of the NYSE's Listed Company Manual ("Rule 802. ...

For the quarter ended June 2024, KORE Group Holdings, Inc. (KORE) reported revenue of $67.87 million, down 2.4% over the same period last year. EPS came in at -$0.99, compared to -$1.20 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $73.37 million, representing a surprise of -7.50%. The company delivered an EPS surprise of -45.59%, with the consensus EPS estimate being -$0.68. While investors closely watch year-over-year changes in headline numbers -- revenue and e ...

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 ...