KORE Reports Second Quarter 2025 Results

Core Insights - KORE Group Holdings, Inc. reported growth in revenue, total connections, adjusted EBITDA, and free cash flow for the quarter ended June 30, 2025, indicating positive momentum in its value creation plan [3][5]. Financial Performance - Revenue for the second quarter of 2025 reached $71.3 million, an increase of $3.4 million or 5% compared to the same period last year [5]. - Adjusted EBITDA rose to $16.7 million, up $5.3 million or 46% year-over-year [5]. - The net loss decreased significantly to $16.9 million, improving by $66.8 million or 80% from the previous year [5]. - Free cash flow increased to $1.6 million, up $1.7 million from the same period last year [5]. Operational Metrics - Total connections at the end of the period reached 20.1 million, an increase of 8% from 18.6 million in the same period last year [5]. - The company added over 1.5 million new connections in the last year, reflecting healthy growth from existing customers and new business signed [3][5]. - For the six months ended June 30, 2025, total revenue was $143.4 million, slightly down from $143.8 million in the same period of 2024 [4]. Revenue Breakdown - IoT Connectivity revenue for the second quarter was $56.1 million, up from $55.8 million, while IoT Solutions revenue increased to $15.2 million from $12.1 million [4]. - For the six months ended June 30, 2025, IoT Connectivity revenue was $110.0 million, down from $113.7 million, and IoT Solutions revenue was $33.4 million, up from $30.2 million [4]. Future Outlook - The company reiterated its financial outlook for the twelve months ending December 31, 2025, projecting revenue in the range of $288 million to $298 million, adjusted EBITDA between $62 million and $67 million, and free cash flow between $10 million and $14 million [6].