KORE

• Revenue for the quarter was $68.7 million. Connectivity revenue increased 1.7% over Q2 2025, second consecutive quarter of strong sequential growth.
• Adjusted EBITDA rose by 12% or $1.5 million to $14.5 million from Q3 2024, focused on operational excellence and profitability.
• Net loss improved by $6.7 million due to improved adjusted EBITDA and tax benefit from U.S. legislation.
• Generated $1.1 million in cash from operations in Q3, free cash flow improved $1.1 million over same period last year.
• Strategy centered on 5-pillar value creation plan; this quarter's results show plan in action.
• Secured $11.3 million in new and expansion eARR, grew total connections to over 20.5 million.
• Launched KORE One unified customer platform and new connectivity offering with automated switching and enhanced resilience.
• AI assistant KORE led to over 50% reduction in support tickets and improved customer E-score.
• Examples of customer wins: fleet management, anti-theft, connected health, AI-powered telematics, highlighting need for global strategic partner to solve IoT challenges.

• Recently, KORE received a letter from existing investors interested in acquiring all common stock not already held by them.
• KORE's Board formed a special committee to review strategic transaction; due to potential range and timing of outcomes, company is suspending guidance for remainder of fiscal year 2025.

Total revenue for the third quarter was $68.7 million. IoT Connectivity revenue was $56.7 million, flat year-over-year but with 1.7% sequential quarter-over-quarter growth from Q2 2025. IoT Solutions revenue was $11.9 million, down slightly from the prior year. IoT Connectivity non-GAAP gross margin was 59.6% (down from 60.9%), and IoT Solutions non-GAAP gross margin was 34.3% (down from 37%) due to revenue mix. Average revenue per user per month (ARPU) was $0.94 in the current quarter, down from $1.01 in Q3 2024 but unchanged sequentially from Q2 2025.

• Potential strategic transaction (acquisition interest) makes it difficult to provide meaningful guidance for remainder of fiscal year 2025.