#USA #Atlanta #Financial Growth #KORE Group #IoT Connectivity

KORE Group Reports Second Quarter 2025 Results

KORE Group Holdings, Inc. (NYSE: KORE), a leader in the Internet of Things (IoT) space, has released its financial outcomes for the second quarter of 2025, highlighting a period of substantial growth and resilience. As a global hyperscaler solely focused on IoT solutions, KORE’s results illustrate its steady increase in revenue, connections, and free cash flow.

Financial Highlights

For the three months ending June 30, 2025, KORE has reported:

• - A revenue increase to $71.3 million, reflecting a growth of 5% or $3.4 million from the previous year.
• - Total connections rose to 20.1 million, representing an 8% increase from 18.6 million in the same period last year.
• - A notable reduction in net loss, decreasing to $16.9 million, which marks an improvement of 80% or $66.8 million compared to Q2 2024.
• - Adjusted EBITDA saw an increase to $16.7 million, up by 46% from last year's figures.
• - Free cash flow also improved significantly, rising to $1.6 million, which is an increase of $1.7 million from the same period last year.

President and CEO Ron Totton expressed his satisfaction with the company’s performance. He stated, “This quarter’s results are gratifying as we see growth in key areas: revenue, Total Connections, Adjusted EBITDA, and Free Cash Flow. These achievements symbolize our commitment to fruitful growth and operational efficiency.” KORE welcomed over 1.5 million new connections within the past year, showcasing its expanding customer base and strong relationships with existing clients.

Revenue Breakdown

KORE’s revenue distribution reveals:

• - IoT Connectivity accounted for $56.1 million (79% of total revenue), a growth from $55.8 million (82% last year).
• - IoT Solutions generated $15.2 million (21%), up from $12.1 million in the same quarter from the prior year.

This breakdown reflects the company’s strategic focus on IoT Connectivity while simultaneously enhancing its solutions offerings.

Year-to-Date Performance

In addition to the quarterly results, KORE has reported:

• - Year-to-date revenue standing at $143.4 million against $143.8 million in 2024. Although there’s a minor decline here, the company shows potential for recovery in the upcoming quarters as customer onboarding increases.
• - Total connections remained consistent at 20.1 million, confirming the company’s strong market presence.

2025 Financial Outlook

KORE Group Holdings anticipates financial guidance for the forthcoming twelve months, projecting:

• - Revenue between $288 million and $298 million.
• - Adjusted EBITDA to fall between $62 million and $67 million.
• - Free Cash Flow expectations of $10 million to $14 million.

These figures underscore KORE’s optimism about sustained growth driven by both the expansion of customer connections and the execution of strategic plans.

Conference Call Insights

Following the announcement of the Q2 results, KORE held a conference call on August 14, 2025, led by top executives including Ron Totton and CFO Anthony Bellomo. This session provided an opportunity for investors to engage directly with management, addressing inquiries regarding the company's performance, growth strategies, and the outlook for the rest of the year. A recording of this call is accessible on the KORE investor relations website.

About KORE

KORE is recognized as a pioneering leader in the Internet of Things industry, providing essential connectivity solutions and services tailored for organizations across all sectors. It focuses on simplifying the complexities surrounding IoT, thereby allowing clients to enhance operational efficiencies. With its extensive expertise, KORE aims to create significant impacts on its customers' business results. For more details, visit www.korewireless.com.

Conclusion

In summation, KORE Group Holdings continues to demonstrate robust operational and financial growth in 2025, positioning itself favorably for future advancements in the ever-evolving IoT landscape. The company's skilled leadership and strategic initiatives are essential drivers of its successful trajectory.