Kore Results Presentation Deck
Summary - Q3 2023 Earnings & Revised 2023 Outlook
KORE
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Q3 2023 vs. Q3 2022
Total revenue of $68.6 million vs. $66.1 million (+4%); -1% sequentially from Q2 2023
IoT Connectivity of $55.2 million vs. $43.4 million (+27%); +14% sequentially from Q2 2023
loT Solutions revenue of $13.4 million vs. $22.7 million (-41%); -37% sequentially from Q2 2023
Gross margin of 54.8% vs. 52.3% (+257 bps); +45 bps sequentially from Q2 2023
Net loss of $95.4 million, or $1.10 per share vs. $14.3 million, or $0.19 per share
DBNER was 96% vs. 100% (104% vs. 106% excluding our largest customer)
Adjusted EBITDA of $14.2 million vs. $15.1 million (-6%); -1% sequentially from Q2 2023
Adjusted EBITDA margin of 20.6% vs. 22.8% (-222 bps); +15 bps sequentially from Q2 2023
Cash provided by operating activities of $3.2 million vs. $9.8 million
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Revised 2023 Outlook
Revenue: $280-$290 million
Adjusted EBITDA, a non-GAAP metric, of $60-$62 million and a margin of 21.4% at the midpoint of
revenue and adjusted EBITDA guidance.
© 2023 KORE 6
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