KORE Q3 2022 revenue $66.6M (-1.8% YoY); raises FY revenue guidance to $265-267M

KORE Group Holdings, Inc.

2022-Q3 EPS reported -$0.46 revenue$205,934,000

Q3 revenue $66.6M (down 1.8% YoY); net loss $13.0M ($0.17/share) vs $4.5M loss in Q3 2021.
IoT Connectivity revenue $43.4M (+4.4% YoY); IoT Solutions $23.3M (-11.7% YoY) due to completed LTE project.
FY2022 revenue guidance raised to $265-267M; adjusted EBITDA guidance maintained at $63-64M.
Cash from operations $9.8M in Q3; YTD $20.5M. Sales funnel TCV >$400M with 1,300+ opportunities.
Strategic alliance with Ericsson to serve 8,500+ enterprise customers in the U.S.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KORE Group Holdings, Inc. reported the quarter ended September 30, 2022 results: revenue $66.6 million, net income $13.0 million, EPS $0.17 per share. Guidance raised.

Period: the quarter ended September 30, 2022
Revenue: $66.6 million
Net income: $13.0 million
EPS: $0.17 per share
Guidance: raised
Result: reported results

Exact text from the filing

(“CaaS”), today reported financial and operational results for the quarter ended September 30, 2022. KORE: Company Highlights • Third quarter revenue of $66.6 million exceeded our expectations bringing year-to-date revenue to $205.9 million, an increase of 12% over the first nine months of 2021 • The Company is increasing its 2022 revenue

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Source: SEC EDGAR

accession 0001628280-22-029817

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