KORE(US:KORE)2025-11-12 21:14Financial Performance - Total Revenue for Q3 2025 was $68.7 million, roughly flat compared to $68.9 million in Q3 2024[5] - Adjusted EBITDA rose to $14.5 million, an increase of 12% from $12.986 million in Q3 2024[5][24] - Net Loss improved to $12.7 million, a reduction of $6.7 million or 35% from the previous year[5] - Free Cash Flow increased to negative $1.1 million, an improvement of $1.1 million from the same period last year[5] - Overall gross profit margin for the company was 37.8% for Q3 2025, compared to 35.4% in Q3 2024[28] - Non-GAAP profit margin for the overall business was 55.2% for the three months ended September 30, 2025, compared to 56.7% in the same period of 2024[28] Connectivity Metrics - Total Connections increased to 20.5 million, up 9% from 18.8 million in the same period last year[5] - IoT Connectivity revenue accounted for 79% of total revenue for the nine months ended September 30, 2025, totaling $166.7 million[6] - The average total connections for the nine months ended September 30, 2025, was 20.1 million, compared to 18.4 million in the same period last year[6] Revenue Breakdown - IoT Connectivity revenue for the three months ended September 30, 2025, was $56,747,000, slightly up from $56,721,000 in 2024[28] - IoT Solutions revenue for the three months ended September 30, 2025, was $11,945,000, down from $12,199,000 in 2024[28] Profitability Metrics - Gross profit margin for IoT Connectivity increased to 40.9% in Q3 2025 from 39.0% in Q3 2024[28] - Non-GAAP profit margin for IoT Connectivity was 59.6% for the three months ended September 30, 2025, compared to 60.9% in the same period of 2024[28] - Total gross profit for the nine months ended September 30, 2025, was $76,962,000, down from $79,836,000 in 2024[28] Strategic Initiatives - The company is suspending guidance for the remainder of Fiscal Year 2025 due to ongoing strategic review discussions with potential acquirers[7][8] - The company is actively evaluating a potential strategic transaction with Searchlight Capital Partners and Abry Partners[7] Cash Flow - For the three months ended September 30, 2025, net cash provided by operating activities was $1,063,000, compared to $1,176,000 in the same period of 2024[26] - For the nine months ended September 30, 2025, net cash provided by operating activities was $8,038,000, compared to $7,066,000 in 2024[26] - Free cash flow for the three months ended September 30, 2025, was $(1,130,000), a decrease from $(2,217,000) in the same period of 2024[26]