Kore Results Presentation Deck
KORE
C
Summary - Q3 2022 Earnings & 2022 Outlook
Q3 2022 vs. Q3 2021
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Gross margin of 53% vs. 48% (+500 bps)
Net loss of $13.0 million, or $0.17 per share vs. $4.5 million, or $0.26 per share
• DBNER was 100% vs. 114%
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Total revenue of $66.6 million vs. $67.9 million (-2%)
IoT Connectivity of $43.4 million vs. $41.5 million (+4%)
IoT Solutions revenue of $23.3 million vs. $26.3 million (-12%)
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Adjusted EBITDA of $15.6 million vs. $15.9 million (-2%)
Adjusted EBITDA margin of 23.4% vs. 23.4% (flat)
Cash provided by operating activities more than doubled to $9.8 million vs. $4.9 million
2022 Outlook
Increasing 2022 revenue outlook to $265-$267 million despite a $5 million F/X headwind,
which has increased from the Q2'22 estimate of $2.5 - $3.0 million
KORE's two-year stack revenue for 2021-22 is forecast at $513-$515 million compared to the
forecast of $457 million provided in our 'go public' model
Adjusted EBITDA, a non-GAAP metric, of $63-$64 million representing approximately 24%
margin
© 2022 KORE
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