KORE Q1 revenue up 15.2% to $76.0M; net loss narrows; reaffirms FY guidance

KORE Group Holdings, Inc.

2024-Q1 EPS reported -$0.19 revenue$75,975,000

Revenue $76.0M (+15.2% YoY); IoT Connectivity $57.9M (+33% YoY, organic +11%).
Net loss $17.6M vs. $18.5M a year ago; Adjusted EBITDA $14.8M (+10.7% YoY).
Closed-won TCV $52M (incl. $26M Connected Health contract), up from $28M last year.
Reaffirms FY2024 revenue guidance $300M-$305M and Adjusted EBITDA $64M-$66M.
IoT Solutions revenue $18.1M, -19% YoY due to timing and shift from low-margin hardware.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KORE Group Holdings, Inc. reported full year 2024 results: revenue $300 million to $305 million. Guidance reaffirmed.

Period: full year 2024
Revenue: $300 million to $305 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

The Company reaffirms its full year 2024 revenue guidance in the range of $300 million to $305 million and Adjusted EBITDA, a non-GAAP metric 2 , guidance in a range of $64 million to $66 million, reflecting a re-acceleration in IoT Connectivity growth.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KORE Group Holdings, Inc. updated its first quarter ended March 31, 2024 guidance (reaffirmed).

Period: first quarter ended March 31, 2024
Guidance: reaffirmed
Result: reported results

Exact text from the filing

First quarter 2024 revenue was $76.0 million, a 15.2% increase over the same period last year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KORE Group Holdings, Inc. updated its first quarter ended March 31, 2024 guidance (reaffirmed).

Period: first quarter ended March 31, 2024
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Net loss was $17.6 million for the first quarter of 2024, a 4.9% reduction from $18.5 million for the same period a year ago.

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Source: SEC EDGAR

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