Kore Results Presentation Deck
Summary - Q1 2023 Earnings & 2023 Outlook
KORE
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Q1 2023 vs. Q1 2022
Total revenue of $66.0 million vs. $69.0 million (-4%); +6% sequentially from Q4 2022
IoT Connectivity of $43.5 million vs. $44.1 million (-1%); flat sequentially from Q4 2022
loT Solutions revenue of $22.4 million vs. $24.8 million (-10%); +20% sequentially from Q4 2022
Gross margin of 54.0% vs. 48.9% (+518 bps); +9 bps sequentially from Q4 2022
• Net loss of $18.5 million, or $0.24 per share vs. $11.6 million, or $0.16 per share
DBNER was 107% vs. 122% (126% vs. 114% excluding our largest customer)
Adjusted EBITDA of $13.3 million vs. $15.3 million (-13%)
Adjusted EBITDA margin of 20.2% vs. 22.2% (-196 bps)
Cash provided by (used in) operating activities of $1.9 million vs. ($4.0) million
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2023 Outlook
Revenue: $300-$310 million
Adjusted EBITDA, a non-GAAP metric, of $60-$62 million representing approximately 20% margin
"Assumes the acquisition of Twilio's loT business closes on June 1, 2023
© 2023 KORE 5
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