Sees FY23 adjusted EBITDA $60M-$62M, representing an adjusted EBITDA margin of approximately 20%. CEO Bahl concluded, "We are excited to enter 2023 with a positive outlook, now that the 2G and 3G sunsets in North America, which have masked our true growth in connected devices, are behind us and ARPU has stabilized. Further, our industry-leading innovative products, such as Kore OmniSIM, are gaining traction in the market. Kore enjoys the benefit of more than 80% recurring revenue, which alongside a robust pipeline of growth opportunities, gives us confidence in our ability to deliver sustainable growth in 2023 and through the coming Decade of IoT."
Published first on TheFly
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Read More on KORE:
- KORE Reports Preliminary and Unaudited Fourth Quarter and Full-Year 2022 Results; Provides Full-Year 2023 Revenue Guidance of $300 to $310 Million, Representing Year-Over-Year Growth of 12% to 15%
- Kore Group to acquire Twilio’s IoT business unit
- KORE to Acquire Twilio’s IoT Business Unit and Accelerate Progress Towards Building the World’s First ‘IoT Hyperscaler’
- Kore Group Holdings, Inc. (KORE) Q4 Earnings Cheat Sheet
- Kore Group management to meet virtually with Seaport Global
