Welcome to our dedicated page for Kore Group Holdings news (Ticker: KORE), a resource for investors and traders seeking the latest updates and insights on Kore Group Holdings stock.
KORE Group Holdings (NYSE: KORE), a global leader in IoT solutions and managed network services, maintains this dedicated news hub for stakeholders tracking its market position and technological advancements. Our curated collection provides immediate access to official announcements, financial disclosures, and strategic developments.
Investors and industry professionals will find essential updates including quarterly earnings reports, IoT product launches, partnership announcements, and executive leadership changes. Each release is verified at source to ensure accuracy in tracking KORE's progress as an IoT hyperscaler and connectivity innovator.
The archive spans multiple business dimensions: financial performance updates, IoT solution deployments, strategic acquisitions, and technology partnerships. This resource enables systematic analysis of KORE's growth in machine-to-machine communications and global IoT infrastructure development.
Bookmark this page for streamlined monitoring of KORE's operational milestones and regulatory filings. Combine periodic checks with real-time alerts through your preferred financial news platform for comprehensive market awareness.
KORE, a leader in IoT Solutions, and mCare Digital have launched the mCareWatch MW-241, a next-gen personal emergency alarm powered by KORE's connectivity and provisioning platform. This innovation allows for seamless monitoring of patients at home or in healthcare facilities. Recently awarded the Best Innovative Assistive Technology product at the Asia Pacific Eldercare Awards, the mCareWatch MW-241 highlights mCare Digital's focus on customer satisfaction and innovation. Designed for independence and security, it features a lightweight design and extended battery life, catering particularly to seniors and those with disabilities. This collaboration aims to enhance health monitoring and set new standards in healthcare technology.
KORE Group Holdings announced a 1-for-5 reverse stock split of its common stock, effective July 1, 2024. The primary goal is to increase the share price to meet NYSE's minimum requirements. The stock symbol 'KORE' and new CUSIP 50066V 305 will be used. The reverse split was approved by the Board and shareholders on June 21, 2024, and June 12, 2024, respectively. No fractional shares will be issued; fractional entitlements will be rounded up to the next whole share. Proportionate adjustments will be made to exercise prices and equity awards. Continental Stock Transfer & Trust will handle the exchange, and no action is required by stockholders holding shares electronically or through brokers.
KORE, a leader in IoT solutions, has been honored with the 2023 Enterprise Partner of the Year Award by Cradlepoint, a top provider of cloud-delivered LTE and 5G solutions. This accolade, presented at Cradlepoint's 2024 Global Partner Summit, highlights KORE's significant year-over-year growth and excellence in sales, solution architecture, and customer service. The award emphasizes KORE's commitment to providing superior IoT connectivity solutions, fostering a strong relationship between the two companies and driving future opportunities in connected businesses. KORE collaborates with various businesses, including major cellular operators and telecom providers, benefiting from Cradlepoint's expanded portfolio of private networks and managed services.
KORE Group Holdings, a global IoT provider, reported its Q1 2024 financial results. The company achieved a revenue of $76.0 million, a 15.2% increase from last year, with IoT Connectivity revenue growing by 33% to $57.9 million. However, IoT Solutions revenue declined by 19% to $18.1 million due to shipment timing and a strategic pivot to higher-margin deals. The net loss was $17.6 million, a slight improvement from the previous year's $18.5 million. Adjusted EBITDA rose by 10.7% to $14.8 million. The company secured new contracts worth $52 million, including a $26 million Connected Health deal. KORE reaffirmed its 2024 revenue guidance of $300-$305 million and expects Adjusted EBITDA to be between $64-$66 million.
KORE Group Holdings, Inc. (NYSE: KORE) will report its first-quarter 2024 financial results on May 15, 2024, after the U.S. market closes. The company will host a live webcast and Q&A session to discuss the results.
KORE Group Holdings, Inc. announced the transition of Romil Bahl as President and CEO, with Ronald Totton appointed as Interim President and CEO. Bahl led KORE's growth strategy, enabling a significant increase in IoT connected devices and services, leading to its listing on the NYSE. The change, effective May 3, 2024, aims to position KORE for further success in the IoT market.
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