Kore Group Holdings, Inc. · NYSE:KORE
Kore — Q1 2024 Earnings Presentation
11 slides from Kore's earnings presentation, May 15, 2024
Slide 1: First Quarter 2024 Earnings Presentation
First Quarter 2024 Earnings Presentation May 15, 2024 © 2023 © KORE 2023 KORE 1
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements Use of Non-GAAP Financial Measures This presentation includes "forward-looking statements" within the meaning of the "safe harbor" In addition to our results determined in accordance with GAAP, we believe the following non-GAAP measures are useful in provisions
Slide 3: Objectives of Our Earnings Call
Objectives of Our Earnings Call Initial Provide financial Answer analyst Observations performance and investor overview and questions key metrics © 2023 KORE 3
Slide 4: Initial Observations
Initial Observations Strong customer relationships and focus on driving organic revenue growth Our customers realize our value, but they want more from us and we have tremendous opportunity to expand our share of wallet doing more to drive their success Early days but evaluating opportunities to dri
Slide 5: Financial Highlights
Financial Highlights Three Months Ended March 31, Variances 2024 2023 Increase / (Decrease) Revenue (In millions USD) % % Amount % IoT Connectivity $57.9 76% $43.5 70% $14.4 33% IoT Solutions $18.1 24% $22.4 30% ($4.3) -19% Total revenue $76.0 100% $66.0 100% $10.0 15% Margin % (excluding depreciati
Slide 6: Financial Highlights (continued)
Financial Highlights (continued) Three Months Ended March 31, Variances 2024 2023 Increase / (Decrease) (In millions USD) Amount % Total Revenue $76.0 $66.0 $10.0 15.2% Operating Expense $49.1 $44.3 $4.8 10.8% Operating Loss ($7.4) ($8.7) $1.3 -14.9% Net Loss ($17.6) ($18.5) $0.9 -4.9% Adj. EBITDA $
Slide 7: Global Sales Pipeline as of March 31, 2024
Global Sales Pipeline as of March 31, 2024 Qualification & Technical Evaluation Stage Proposal Stage Total 1,190Pipeline Opportunities Contract Signed Stage $422 million TCV Beta Site Stage Total Closed Won Closed Won $52 million TCV © 2023 KORE 7
Slide 8: Key Business Successes
Key Business Successes 1. Providing full Connectivity as a 2. Cross-Selling IoT Solutions with the Service (CaaS) in Telematics KORE One-Stop-Shop KORE secured an agreement through one of our KORE continues to progress in the launch preparation channel partners, capturing 100% wallet share with of t
Slide 9: Summary Q1 2024 Messages and Full Year 2024 Outlook
Summary Q1 2024 Messages and Full Year 2024 Outlook Double-digit IoT Added $52 million Increased sales Increased focus Clear visibility to Connectivity of Closed Won TCV momentum with on cost discipline double-digit growth to accelerate in the quarter, a streamlined sales in 2024, resulting in adjus
Slide 10: Appendix
Appendix © 2023 KORE 10
Slide 11: Reconciliation of Net Loss to EBITDA and Adjusted EBITDA
Reconciliation of Net Loss to EBITDA and Adjusted EBITDA Three Months Ended March 31, (In millions USD) 2024 2023 Net loss ($17.6) ($18.5) Income tax benefit ($0.4) ($0.4) Interest Expense, net $12.6 $10.2 Depreciation & Amortization $13.6 $14.1 EBITDA $8.2 $5.5 Change in fair value of warrant liabi