Economic Environment and Market Conditions - The company emphasizes that fluctuations in quarterly operating results may be pronounced in the current economic environment, advising against reliance on quarter-to-quarter comparisons for future performance [99]. - Revenue, results of operations, and cash flows are highly dependent on overall demand for the company's platforms and solutions, which may be negatively impacted by macroeconomic conditions such as inflation and rising interest rates [100]. - The company is focusing on the growth of the 5G market, which may take longer to materialize than expected, potentially delaying commercial milestones and affecting financial performance [104]. - The deployment of 5G technology is subject to risks such as equipment availability and regulatory delays, which could affect network performance and customer retention [126]. - The ongoing military conflict between Russia and Ukraine may trigger additional economic sanctions, potentially impacting supply chains and financial conditions [156]. Financial Performance and Results - For the year ended December 31, 2022, total revenue increased to $268.4 million, up 8.1% from $248.4 million in 2021 [321]. - The company reported a net loss of $106.2 million for 2022, compared to a net loss of $24.8 million in 2021, reflecting a significant increase in losses [323]. - Operating expenses rose to $224.8 million in 2022, up from $142.6 million in 2021, primarily due to a goodwill impairment of $58.1 million [321]. - Cash and cash equivalents decreased to $34.6 million as of December 31, 2022, down from $86.0 million in 2021 [316]. - The company’s accumulated deficit increased to $248.2 million in 2022 from $142.3 million in 2021, highlighting ongoing financial challenges [319]. - The company incurred net losses of $106.2 million in 2022 and has an accumulated deficit of $248.2 million as of December 31, 2022 [189]. Risks and Challenges - The company is facing challenges in supporting low latency and high throughput IoT use cases, which are critical for revenue growth and profitability [107]. - There are risks associated with the introduction of new products, including potential supply chain disruptions and competition from new entrants in the market [101]. - Cybersecurity threats pose a significant risk, with potential breaches affecting the integrity and availability of the company's systems and customer data [114]. - The company may face litigation that could adversely affect its financial condition and operations, including costs related to intellectual property disputes [120]. - The company faces risks related to rapid technological changes and must adapt to evolving industry standards to remain competitive [124]. - The company faces risks related to compliance with evolving privacy laws, which could require substantial costs to ensure compliance [165]. - Changes in U.S. and foreign tax rules may result in adverse tax consequences, affecting the company's financial condition [167]. - The company faces risks related to increased borrowing costs and liquidity problems if cash flows are insufficient to meet debt service obligations [176]. Customer and Revenue Concentration - The largest customer accounted for approximately 11% of total revenue for the year ended December 31, 2022, while the next largest customer contributed about 8% [121]. - Revenue from connectivity services built on cellular networks provided by the top three carrier relationships accounted for approximately 40% of the business for the year ended December 31, 2022 [154]. - The company actively seeks to sell additional solutions to existing customers, but a significant increase in churn rate could adversely affect revenue growth [127]. Investment and Growth Strategies - Significant investments are being made in 4G and 5G technologies, with the company aiming to develop leading and cost-effective products in these areas [106]. - Investment in new business strategies and acquisitions may lead to operational difficulties and financial risks, impacting overall business performance [132]. - The company made payments for acquisitions totaling $46,002,000 in 2022, indicating ongoing investment in growth through M&A [328]. Operational and Compliance Issues - The company has identified material weaknesses in its internal controls over financial reporting, which could impair its ability to produce accurate financial statements [181]. - The company is subject to examination by tax authorities, which could result in material differences from historical tax provisions and adversely affect financial statements [173]. - The company relies on a limited number of suppliers for critical components, and any disruption in the supply chain could adversely affect revenue and results of operations [155]. - The company is dependent on telecommunications carriers for IoT Connectivity Services, and disruptions in these relationships could significantly impact business [153]. Accounting and Financial Reporting - The company adopted new accounting standards for leases and cash conversion features effective January 1, 2022, which may impact future financial reporting [310][311]. - The Company recognizes revenue primarily from IoT Connectivity and IoT Solutions, with monthly recurring charges and usage charges forming the bulk of its revenue stream [345]. - The Company recognizes stock-based compensation as an expense over the requisite service period using the straight-line attribution method [374]. - The cumulative after-tax effect of adopting ASC 842 resulted in operating lease right-of-use assets of $9.278 million and total operating lease liabilities of $9.604 million as of January 1, 2022 [393].

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________ FORM 10-Q __________________________ (Mark One) For the quarterly period ended June 30, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-40856 KORE Group Holdings, Inc. (Exa ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-40856 KORE Group Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) De ...

Large accelerated filer ☐ Accelerated filer ☐ Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ 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 its charter) 3700 Mansell Roa ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-39647 KORE Group Holdings, Inc. (Exact Name of Registrant as Specified in its Charter ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39647 King Pubco, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 86-3078783 (State or othe ...