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KORE Group (KORE) investor relations material

KORE Group Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary12 Nov, 2025

Executive summary

  • Q3 2025 revenue was $68.7 million, essentially flat year-over-year, with total connections rising 9% to 20.5 million.

  • Adjusted EBITDA increased 12% year-over-year to $14.5 million, reflecting improved profitability.

  • Net loss improved by $6.7 million to $12.7 million, aided by higher adjusted EBITDA and a tax benefit.

  • Free cash flow improved by $1.1 million year-over-year to negative $1.1 million.

  • Received a non-binding $5.00/share acquisition proposal from major shareholders, prompting a strategic review.

Financial highlights

  • IoT Connectivity revenue was $56.7 million (83% of total), flat year-over-year; IoT Solutions revenue was $11.9 million (17% of total), down slightly.

  • Gross margin for Q3 2025 was 37.8%, up from 35.4% year-over-year; Non-GAAP gross margin was 55.2%.

  • Operating expenses for Q3 2025 were $42.2 million, down from $43.8 million in Q3 2024 due to restructuring.

  • Cash and restricted cash stood at $19.3 million as of September 30, 2025.

  • Free cash flow for the nine months ended September 30, 2025 was $1.1 million, compared to negative $5.1 million in the prior year period.

Outlook and guidance

  • Guidance for the remainder of fiscal 2025 is suspended due to ongoing strategic review and potential acquisition discussions.

  • Management continues to focus on restructuring, operational excellence, and product innovation.

  • The company expects to meet near-term liquidity needs but acknowledges uncertainty regarding long-term liquidity.

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Frequently asked questions

KORE Group Holdings Inc. is a global provider of Internet of Things (IoT) solutions and services. The company offers a comprehensive suite of IoT connectivity, device management, and data analytics services, catering to industries such as healthcare, transportation, industrial automation, and smart infrastructure. KORE enables businesses to deploy, manage, and optimize IoT devices and applications through its platforms and services. The company is headquartered in Alpharetta, Georgia, and its shares are listed on the NYSE.

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