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KORE

KORE Group Holdings, Inc.

KORE

KORE Group Holdings, Inc. • NYSE
$4.14 ▼ -2.82% (-0.12)
Market Cap $72.59 M
52w High $4.88
52w Low $1.10
Dividend Yield 0%
P/E -1.16
Volume 12.30K
Outstanding Shares 17.53M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $68.692M ▼ $28.457M ▼ $-12.707M ▲ -18.499% ▲ $-0.64 ▲ $3.778M ▼
Q2-2025 $71.25M ▼ $44.564M ▲ $-16.878M ▼ -23.688% ▼ $-0.86 ▼ $11.423M ▼
Q1-2025 $72.142M ▼ $41.576M ▼ $-14.908M ▲ -20.665% ▲ $-0.77 ▲ $13.089M ▲
Q4-2024 $73.324M ▲ $54.426M ▲ $-25.448M ▼ -34.706% ▼ $-1.32 ▼ $-1.644M ▼
Q3-2024 $68.92M $43.827M $-19.408M -28.16% $-1 $7.665M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $19.288M ▼ $423.382M ▼ $569.096M ▲ $-145.714M ▼
Q2-2025 $20.962M ▲ $432.936M ▼ $566.43M ▲ $-133.494M ▼
Q1-2025 $19.656M ▲ $445.134M ▼ $560.033M ▲ $-114.899M ▼
Q4-2024 $19.408M ▲ $455.833M ▼ $555.433M ▲ $-99.6M ▼
Q3-2024 $18.607M $473.915M $551.152M $-77.237M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-12.707M ▲ $1.063M ▼ $-2.193M ▲ $-533K ▲ $-1.674M ▼ $879K ▼
Q2-2025 $-16.878M ▼ $4.101M ▲ $-2.515M ▼ $-563K ▼ $1.309M ▲ $1.336M ▼
Q1-2025 $-14.908M ▲ $2.874M ▲ $-2.277M ▼ $-512K ▼ $249K ▼ $2.748M ▲
Q4-2024 $-25.448M ▼ $2.84M ▲ $-1.278M ▲ $-396K ▲ $801K ▲ $1.977M ▲
Q3-2024 $-19.408M $1.176M $-3.393M $-1.647M $-3.653M $973K

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q2-2025
Hardware Sales
Hardware Sales
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Service
Service
 $60.00M ▲$60.00M ▲$60.00M ▲$60.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been slowly but steadily increasing over the past several years, and gross profit has moved up alongside it, which suggests the core business is finding demand and generally maintains decent pricing power. However, profits are a concern: operating results have swung between small profits and meaningful losses, and most recently the company slid back into a sizable operating loss. Net income has been negative every year and has trended worse, which points to a business that has not yet reached sustainable profitability, likely pressured by interest costs, integration expenses, or scale challenges. Overall, the top line shows gradual progress, but the bottom line still reflects a company in investment or turnaround mode rather than one in a stable earnings phase.

Balance Sheet

Balance Sheet The balance sheet shows a company with modest asset levels, limited cash, and a fairly heavy reliance on debt. Over time, total assets have shrunk from earlier peaks, while debt has remained high, and most recently shareholder equity has turned negative. Negative equity is a warning sign that past losses and leverage have eroded the cushion available to owners. This structure can constrain flexibility, make refinancing more important, and increase sensitivity to any business setbacks. In short, the balance sheet looks stretched and emphasizes the need for either improved profitability, fresh capital, or both over time.

Cash Flow

Cash Flow Cash generation is fragile. Operating cash flow has bounced between slightly positive and slightly negative, never establishing a clear, strong surplus. Free cash flow has hovered around breakeven, with small investments in capital spending. This suggests the business can sometimes fund itself, but does not yet consistently throw off excess cash to comfortably reduce debt or reinvest aggressively. Any downturn in sales, delay in customer payments, or increase in investment needs could put pressure on liquidity, especially given the limited cash on hand.

Competitive Edge

Competitive Edge KORE is positioned as a focused IoT connectivity and solutions provider, rather than a general telecom carrier. Its strength lies in being a one-stop shop: it aggregates multiple networks around the world, offers device and logistics services, and supports customers across key verticals like healthcare, fleet, industrial, and retail. Its OmniSIM and platform tools help reduce complexity for customers that deploy devices globally, which can be a clear differentiator versus single-carrier offerings. At the same time, the company competes in a space where large telecom operators, cloud giants, and specialized IoT platforms also operate, many of which have deeper pockets and broader ecosystems. KORE’s niche and vertical expertise are advantages, but scale, pricing pressure, and the need to keep up technically with much larger rivals remain ongoing competitive challenges.

Innovation and R&D

Innovation and R&D The company’s strategy leans heavily on innovation in eSIM, connectivity management platforms, security, and managed IoT services. Technologies like OmniSIM, KORE One, and vertical-specific solutions in health, fleet, and industrial IoT indicate a focus on higher-value, software- and service-led offerings rather than simple connectivity. Acquisitions, such as the Twilio IoT assets, and partnerships with major cloud providers show an intent to extend its capabilities and developer reach. Looking ahead, KORE is targeting growth areas like 5G, edge computing, AI-driven analytics, and integrated SIM technology. The opportunity is meaningful, but sustaining this innovation agenda will require ongoing investment and careful prioritization, especially given the company’s constrained financial profile.

Summary

KORE operates in an attractive growth niche—global IoT connectivity and solutions—with a differentiated, platform-based approach and deep specialization in several important industries. Strategically, it has built a credible position as a carrier-agnostic, end-to-end partner for enterprises that need to deploy and manage connected devices at scale. However, the financial picture is challenging: recurring losses, a leveraged balance sheet with negative equity, and inconsistent cash generation all point to elevated financial risk and limited room for error. The long-term story hinges on whether KORE can translate its technology, partnerships, and vertical expertise into durable, profitable growth fast enough to strengthen its balance sheet and support continued innovation in a very competitive, rapidly evolving IoT market.

NEWS

November 12, 2025 · 4:15 PM UTC

KORE Reports Third Quarter 2025 Results

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November 4, 2025 · 5:47 PM UTC

KORE Announces Receipt of Non-Binding Letter Relating to Acquisition of Common Stock

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November 4, 2025 · 8:00 AM UTC

KORE Recognized as a Top-Tier IoT Specialist in Transforma Insights' 2025 Benchmarking Report

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October 28, 2025 · 12:37 PM UTC

KORE to Report Third Quarter 2025 Results on November 12, 2025

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