KORE Group Holdings Inc. (KORE) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
3 RAVINIA DRIVE NE ATLANTA, GA 30346 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4899 - Communications Services, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | |||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Current Assets | ||||||
| Cash, cash equivalents, and short-term investments | 27,137 | 34,645 | 85,976 | |||
| Cash and cash equivalents | 27,137 | 34,645 | 85,976 | |||
| Receivables | 53,912 | 50,162 | 52,258 | |||
| Inventory, net of allowances, customer advances and progress billings | 8,215 | 10,051 | 15,470 | |||
| Inventory | 8,215 | 10,051 | 15,470 | |||
| Prepaid expense | 7,411 | 8,362 | 6,418 | |||
| Deposits current assets | 2,061 | |||||
| Other current assets | 2,635 | |||||
| Other undisclosed current assets | 616 | 1,030 | ||||
| Total current assets: | 101,987 | 103,220 | 161,152 | |||
| Noncurrent Assets | ||||||
| Finance lease, right-of-use asset, after accumulated amortization | 250 | |||||
| Operating lease, right-of-use asset | 9,367 | 10,019 | ||||
| Property, plant and equipment | 12,240 | |||||
| Intangible assets, net (including goodwill) | 462,561 | 562,210 | 585,436 | |||
| Goodwill | 294,974 | 369,706 | 381,962 | |||
| Intangible assets, net (excluding goodwill) | 167,587 | 192,504 | 203,474 | |||
| Restricted cash and investments | 300 | 362 | 367 | |||
| Deferred income tax assets | 55 | |||||
| Other noncurrent assets | 1,813 | 971 | 407 | |||
| Other undisclosed noncurrent assets | 10,956 | 11,649 | ||||
| Total noncurrent assets: | 484,997 | 585,516 | 598,450 | |||
| TOTAL ASSETS: | 586,984 | 688,736 | 759,602 | |||
| LIABILITIES AND EQUITY | ||||||
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts payable and accrued liabilities | 47,404 | 33,628 | 37,782 | |||
| Taxes payable | ✕ | ✕ | ✕ | 467 | ||
| Accounts payable | 23,983 | 17,835 | 16,004 | |||
| Accrued liabilities | 23,421 | 15,793 | 21,311 | |||
| Deferred revenue | 9,044 | 7,817 | 6,889 | |||
| Debt | 2,411 | 5,345 | ||||
| Other undisclosed current liabilities | 15,640 | 2,018 | 3,517 | |||
| Total current liabilities: | 74,499 | 48,808 | 48,188 | |||
| Noncurrent Liabilities | ||||||
| Long-term debt and lease obligation | 296,130 | 413,910 | 399,115 | |||
| Long-term debt, excluding current maturities | 296,109 | 413,910 | 399,115 | |||
| Finance lease, liability | 21 | |||||
| Liabilities, other than long-term debt | 37,809 | 45,313 | 39,892 | |||
| Deferred income tax liabilities | 13,795 | 25,248 | 36,722 | |||
| Financial instruments subject to mandatory redemption, settlement terms, share value, amount | ||||||
| Other liabilities | 14,568 | 10,790 | 2,884 | |||
| Operating lease, liability | 9,446 | 9,275 | ||||
| Derivative instruments and hedges, liabilities | 286 | |||||
| Other undisclosed noncurrent liabilities | 141,573 | 33 | 264 | |||
| Total noncurrent liabilities: | 475,512 | 459,256 | 439,271 | |||
| Total liabilities: | 550,011 | 508,064 | 487,459 | |||
| Equity | ||||||
| Equity, attributable to parent | 36,973 | 180,672 | 272,143 | |||
| Common stock | 8 | 8 | 7 | |||
| Treasury stock, value | (2,754) | |||||
| Additional paid in capital | 461,069 | 435,292 | 413,646 | |||
| Accumulated other comprehensive loss | (6,070) | (6,390) | (3,331) | |||
| Accumulated deficit | (415,280) | (248,238) | (138,179) | |||
| Total equity: | 36,973 | 180,672 | 272,143 | |||
| TOTAL LIABILITIES AND EQUITY: | 586,984 | 688,736 | 759,602 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | ||
|---|---|---|---|---|---|
| Revenues | 276,610 | 268,447 | 248,217 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (128,563) | (129,154) | (122,224) | ||
| Gross profit: | 148,047 | 139,293 | 125,993 | ||
| Operating expenses | (266,808) | (224,793) | (142,147) | ||
| Operating loss: | (118,761) | (85,500) | (16,154) | ||
| Nonoperating income (expense) (loss, Foreign Currency Transaction, before Tax) | (14) | ||||
| Interest and debt expense | (3,323) | (31,371) | (23,260) | ||
| Loss from continuing operations before equity method investments, income taxes: | (122,084) | (116,885) | (39,414) | ||
| Other undisclosed income from continuing operations before income taxes | 268 | 5,267 | |||
| Loss from continuing operations before income taxes: | (122,084) | (116,617) | (34,147) | ||
| Income tax benefit | 4,158 | 10,417 | 9,694 | ||
| Loss from continuing operations: | (117,926) | (106,200) | (24,453) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (24,453) | |
| Net loss: | (117,926) | (106,200) | (24,453) | ||
| Other undisclosed net loss attributable to parent | (49,116) | ||||
| Net loss attributable to parent: | (167,042) | (106,200) | (24,453) | ||
| Preferred stock dividends and other adjustments | (22,822) | ||||
| Other undisclosed net income available to common stockholders, basic | 4,074 | ||||
| Net loss available to common stockholders, diluted: | (167,042) | (106,200) | (43,201) | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | ||
|---|---|---|---|---|---|
| Net loss: | (117,926) | (106,200) | (24,453) | ||
| Comprehensive loss: | (117,926) | (106,200) | (24,453) | ||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (48,796) | (2,927) | (1,654) | ||
| Comprehensive loss, net of tax, attributable to parent: | (166,722) | (109,127) | (26,107) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.