Overview

• Global IoT connectivity provider's Q1 2026 revenue fell yr/yr due to lower IoT Solutions sales

• Company added over two million connections yr/yr, boosting IoT Connectivity revenue

• Pending merger with private equity firms was previously announced, expected to close in Q2 or Q3

Outlook

• Company expects acquisition to close in Q2 or Q3 2026, pending regulatory and stockholder approvals

• KORE highlights continued demand for IoT Connectivity and expects ongoing business momentum

Result Drivers

• IOT SOLUTIONS DECLINE - Lower IoT Solutions revenue drove overall revenue decrease

• CONNECTIVITY GROWTH - IoT Connectivity revenue and total connections increased, with over two million new connections yr/yr, per CEO Ron Totton

• FREE CASH FLOW IMPROVEMENT - Management attributed higher free cash flow to focus on core services

Company press release: ID:nPnBxw4Ja

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Miss	$65.8 mln	$72.20 mln (1 Analyst)
Q1 Net Income		-$28.5 mln
Q1 Adjusted EBITDA	Miss	$15.4 mln	$16.20 mln (1 Analyst)

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the wireless telecommunications services peer group is "buy."

• Wall Street's median 12-month price target for KORE Group Holdings Inc is $5.00, about 45.4% below its May 8 closing price of $9.15

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