KORE Group Q1 revenue falls on lower IoT Solutions sales

KORE group

11/05/2026 21:37

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

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)