---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-037336"
form_type: "8-K"
ticker: "KORE"
cik: "0001855457"
company_name: "KORE Group Holdings, Inc."
filed_at: "2024-08-15T23:59:59+00:00"
generated_at: "2026-05-31T09:06:00.323709+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# KORE Q2 rev down 2% to $67.9M, net loss $64.3M (incl $45.4M goodwill impairment); cuts 19% of workforce

## Summary
- Revenue $67.9M (-2% YoY); IoT Connectivity +16% to $55.8M, IoT Solutions -43% to $12.1M.
- Net loss $64.3M vs $19.5M a year ago, includes $45.4M non-cash goodwill impairment; Adjusted EBITDA $11.4M (-20% YoY).
- Restructuring: ~19% workforce reduction; $5-6M one-time severance cost, $20-22M annual cash savings expected from 2025.
- Ron Totton appointed permanent President & CEO; Jared Deith named EVP Connected Health; Bryan Lubel departed as EVP.
- Regained NYSE compliance after 1-for-5 reverse stock split; 2024 guidance updated (specific ranges not in filing).

## SEC filing metadata
- accession: 0001628280-24-037336
- form_type: 8-K
- ticker: KORE
- cik: 0001855457
- company_name: KORE Group Holdings, Inc.
- filed_at: 2024-08-15T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 2.05, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855457/000162828024037336/0001628280-24-037336-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855457/000162828024037336/kore-20240814.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-037336
- JSON: https://secwatch.observer/filing/0001628280-24-037336.json
- Plain text: https://secwatch.observer/filing/0001628280-24-037336.txt

## Key facts
- Executive change
  Ronald Totton was appointed as President and Chief Executive Officer at KORE Group Holdings, Inc..
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: On August 15, 2024, the Company announced the appointment of Ronald Totton, effective August 14, 2024, as its President and Chief Executive Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855457/000162828024037336/0001628280-24-037336-index.htm
- Executive change
  Ronald Totton was appointed as Member of the Board (Class III Director) at KORE Group Holdings, Inc..
  - Action: appointed
  - Role: Member of the Board (Class III Director)
  source text: Effective August 14, 2024, Mr. Totton was also appointed as a member of the Board of the Company to serve as a Class III director of the Company until the 2027 Annual Meeting of Stockholders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855457/000162828024037336/0001628280-24-037336-index.htm
- Restructurings & Charges
  KORE Group Holdings, Inc. announced a restructuring with charges of $5 million to $6 million (approximately 19% of the Company’s employee base).
  - Type: restructuring
  - Charge: $5 million to $6 million
  - Headcount: approximately 19% of the Company’s employee base
  source text: the Restructuring Plan to be substantially completed by December 31, 2024. Total costs and cash expenditures for the Restructuring Plan are estimated to be in the range of $5 million to $6 million, substantially all of which are related to employee severance and benefits costs. The Company expects to incur most of these pre-tax reduction in force charges in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855457/000162828024037336/0001628280-24-037336-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.