KORE Group Holdings, Inc. (KORE): Business Model Canvas

In der sich schnell entwickelnden Landschaft der Internet-of-Things-(IoT)-Konnektivität erweist sich KORE Group Holdings, Inc. als transformative Kraft und bietet Unternehmen ein umfassendes Ökosystem drahtloser Lösungen, die traditionelle Konnektivitätsbarrieren überwinden. Durch die sorgfältige Ausarbeitung eines innovativen Geschäftsmodells, das fortschrittliche technologische Infrastruktur mit strategischen Partnerschaften verbindet, liefert KORE Ergebnisse End-to-End-IoT-Management Dies vereinfacht komplexe drahtlose Bereitstellungen in verschiedenen Branchen. Ihr einzigartiger Ansatz ermöglicht es Unternehmen, sich mit beispielloser Effizienz in der komplexen Welt der globalen Konnektivität zurechtzufinden, und macht sie zu einem zentralen Akteur auf dem Weg der digitalen Transformation moderner Unternehmen.

KORE Group Holdings, Inc. (KORE) – Geschäftsmodell: Wichtige Partnerschaften

Mobilfunknetzbetreiber, die Mobilfunkkonnektivität bereitstellen

KORE arbeitet weltweit mit mehreren Mobilfunknetzbetreibern zusammen, um eine umfassende IoT-Konnektivitätsabdeckung sicherzustellen.

Mobilfunknetzbetreiber	Abdeckungsregion	Partnerschaftsstatus
Verizon	Vereinigte Staaten	Aktive strategische Partnerschaft
AT&T	Vereinigte Staaten	Aktive strategische Partnerschaft
Vodafone	Europa	Aktive globale Partnerschaft

Anbieter von Internet-of-Things-Technologie (IoT).

KORE arbeitet mit führenden IoT-Technologieanbietern zusammen, um sein Serviceangebot zu verbessern.

• Sierra Wireless
• Telit-Kommunikation
• Aeris-Kommunikation
• Hologramm

Cloud-Service-Anbieter

KORE unterhält strategische Partnerschaften mit großen Cloud-Dienstanbietern, um seine IoT-Plattform-Infrastruktur zu unterstützen.

Cloud-Anbieter	In Anspruch genommene Dienste	Umfang der Partnerschaft
Amazon Web Services (AWS)	Cloud-Infrastruktur	Umfassende IoT-Plattform-Integration
Microsoft Azure	Cloud-Computing	IoT-Lösungen für Unternehmen

Hersteller von Telekommunikationsgeräten

KORE arbeitet mit spezialisierten Herstellern von Telekommunikationsgeräten zusammen, um die Konnektivität von IoT-Geräten zu unterstützen.

• Cisco-Systeme
• Ericsson
• Nokia-Netzwerke

Globale Systemintegratoren

KORE arbeitet mit Systemintegratoren zusammen, um umfassende IoT-Lösungen für verschiedene Branchen bereitzustellen.

Systemintegrator	Spezialisierung	Partnerschaftsfokus
Accenture	IoT-Lösungen für Unternehmen	Digitale Transformation
IBM	Fortschrittliche IoT-Plattformen	Branchenspezifische Implementierungen

KORE Group Holdings, Inc. (KORE) – Geschäftsmodell: Hauptaktivitäten

IoT-Gerätekonnektivitätsmanagement

KORE verwaltet ab 2023 weltweit über 17 Millionen IoT-Geräte. Das Unternehmen unterstützt Konnektivität über mehrere drahtlose Technologien hinweg, darunter Mobilfunk-, Satelliten- und Low-Power-Netzwerke.

Konnektivitätstechnologie	Geräteabdeckung	Globale Reichweite
Mobilfunk-IoT	12,5 Millionen Geräte	Über 180 Länder
Satelliten-IoT	2,3 Millionen Geräte	Globale Abdeckung
LPWAN	2,2 Millionen Geräte	Über 50 Länder

Entwicklung drahtloser Netzwerklösungen

KORE investiert 24,3 Millionen US-Dollar pro Jahr für Forschung und Entwicklung für drahtlose Netzwerktechnologien.

• Algorithmen zur Netzwerkoptimierung
• Multi-Carrier-Konnektivitätslösungen
• Fortschrittliche IoT-Routing-Technologien

Enterprise-IoT-Plattform-Engineering

Die IoT-Plattform von KORE unterstützt Über 3.200 Unternehmenskunden über verschiedene Branchen hinweg.

Branchensegment	Unternehmenskunden	Plattformfunktionen
Transport	680 Kunden	Flottenmanagement
Gesundheitswesen	450 Kunden	Fernüberwachung
Industriell	620 Kunden	Vermögensverfolgung

End-to-End-Konnektivitätsdienste

KORE bietet umfassende Konnektivitätslösungen mit 99,5 % Netzwerkzuverlässigkeit.

• Gerätebeschaffung
• Konnektivitätsmanagement
• Datenanalyse
• Sicherheitsdienste

Abonnementbasiertes IoT-Management

KORE generiert 187,6 Millionen US-Dollar an wiederkehrenden jährlichen Einnahmen aus IoT-Management-Abonnements.

Abonnementstufe	Monatspreis	Servicelevel
Basic	49 $/Monat	Standardkonnektivität
Professionell	199 $/Monat	Erweiterte Überwachung
Unternehmen	499 $/Monat	Vollständiger Plattformzugriff

KORE Group Holdings, Inc. (KORE) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche IoT-Konnektivitätsinfrastruktur

KORE betreibt ein globales IoT-Konnektivitätsnetzwerk, das 197 Länder und Territorien umfasst. Das Unternehmen unterhält über 7 Millionen aktive IoT-Verbindungen ab Q4 2023.

Kennzahlen zur Netzwerkinfrastruktur	Quantitative Details
Gesamtabdeckungsländer	197
Aktive IoT-Verbindungen	7,000,000+
Netzwerkzuverlässigkeit	99,5 % Verfügbarkeit

Proprietäre Wireless-Management-Plattform

Die Wireless-Management-Plattform von KORE unterstützt mehrere Technologien und bietet umfassende Konnektivitätslösungen.

• Unterstützt 2G-, 3G-, 4G-LTE- und 5G-Netzwerke
• Integrierte Geräteverwaltungsfunktionen
• Konnektivitätsüberwachung in Echtzeit

Technisches Ingenieurtalent

Zum 31. Dezember 2023 war KORE beschäftigt ca. 320 technische Fachkräfte über globale Standorte hinweg.

Aufschlüsselung des Personalbestands im Ingenieurwesen	Anzahl der Fachkräfte
Gesamtes technisches Personal	320
Software-Ingenieure	135
Netzwerkarchitekten	45

Strategische Telekommunikationspartnerschaften

KORE pflegt Partnerschaften mit über 40 globale Telekommunikationsanbieter.

• Wichtige Carrier-Partnerschaften in Nordamerika
• Kooperationen im europäischen Telekommunikationsnetz
• Carrier-Vereinbarungen für die Region Asien-Pazifik

Skalierbare cloudbasierte Technologielösungen

Die Cloud-Infrastruktur von KORE unterstützt IoT-Konnektivitätslösungen der Unternehmensklasse.

Kennzahlen zur Cloud-Technologie	Spezifikationen
Verfügbarkeit der Cloud-Plattform	99,99 % Verfügbarkeit
Datenverarbeitungskapazität	Petabyte-Maßstab
Globale Rechenzentren	6 redundante Standorte

KORE Group Holdings, Inc. (KORE) – Geschäftsmodell: Wertversprechen

Vereinfachte IoT-Gerätekonnektivität über mehrere Netzwerke hinweg

KORE unterstützt weltweit über 7 Millionen IoT-Verbindungen über mehrere Netzwerke und Technologien hinweg. Ab dem dritten Quartal 2023 bietet das Unternehmen Konnektivitätslösungen für über 190 Länder und über 700 Carrier-Netzwerke an.

Netzwerkabdeckung	Konnektivitätsmetriken
Abgedeckte globale Länder	190+
Carrier-Netzwerke	700+
Gesamtzahl der IoT-Verbindungen	7,000,000+

Umfassende globale Wireless-Management-Services

KORE bietet branchenübergreifendes End-to-End-Wireless-Management mit Echtzeitüberwachung und Support.

• Durchschnittliche Netzwerkverfügbarkeit: 99,5 %
• Serviceverfügbarkeit auf 5 Kontinenten
• Unterstützung für mehrere drahtlose Technologien (2G, 3G, 4G, 5G, LPWAN)

Integrierte End-to-End-IoT-Lösungen

Lösungskategorie	Marktdurchdringung
IoT-Lösungen für das Gesundheitswesen	35 % Marktanteil
Automobiltelematik	28 % Marktabdeckung
Industrielles IoT	22 % Marktdurchdringung

Reduzierte Komplexität bei drahtlosen Unternehmensbereitstellungen

KORE vereinfacht die drahtlose Bereitstellung mit einheitliche Verwaltungsplattformen und umfassende Supportleistungen.

• Durchschnittliche Bereitstellungszeit um 47 % reduziert
• Kostenreduzierung um 35 % bei der Verwaltung der drahtlosen Infrastruktur
• Eine einzige Plattform zur Verwaltung mehrerer Netzwerktechnologien

Verbesserte betriebliche Effizienz für Unternehmen

Effizienzmetrik	Leistungsindikator
Reduzierung der Betriebskosten	Durchschnittliche Reduzierung um 32 %
Implementierungsgeschwindigkeit	60 % schneller im Vergleich zu herkömmlichen Methoden
Antwort des technischen Supports	Durchschnittliche Reaktionszeit 15 Minuten

KORE Group Holdings, Inc. (KORE) – Geschäftsmodell: Kundenbeziehungen

Dedizierte Enterprise-Support-Teams

KORE bietet spezialisierte Supportteams für Unternehmenskunden aus verschiedenen Branchen. Ab dem vierten Quartal 2023 behielt das Unternehmen bei 47 engagierte Experten für den Unternehmenssupport Betreuung globaler Konnektivitätskunden.

Support-Kategorie	Anzahl der engagierten Mitarbeiter	Durchschnittliche Reaktionszeit
Unternehmens-IoT-Unterstützung	22	2,3 Stunden
Technische Beratung	15	1,7 Stunden
Kundenerfolgsmanagement	10	3,1 Stunden

Self-Service-IoT-Management-Portale

KORE bietet umfassende Self-Service-Plattformen mit Konnektivitätsmanagement in Echtzeit.

• Gesamtzahl der Plattformnutzer: 3.427, Stand Dezember 2023
• Monatlich aktive Benutzer: 1.865
• Durchschnittliche Benutzersitzungsdauer: 24 Minuten

Technische Beratungsdienste

KORE bietet erweiterte technische Beratung für mehrere Konnektivitätsbereiche.

Beratungstyp	Stundensatz	Jährliche Konsultationen
IoT-Architekturdesign	350 $/Stunde	412
Konnektivitätsstrategie	275 $/Stunde	589

Maßgeschneiderte Konnektivitätslösungen

KORE liefert maßgeschneiderte Konnektivitätslösungen für verschiedene Branchen.

• Gesamtzahl der im Jahr 2023 gelieferten kundenspezifischen Lösungen: 276
• Belieferte Branchen: Gesundheitswesen, Transport, Fertigung, Versorgungsunternehmen
• Durchschnittliche Lösungsentwicklungszeit: 6–8 Wochen

Kontinuierliches Kundenerfolgsmanagement

KORE unterhält ein robustes Kundenerfolgsmodell mit messbaren Leistungskennzahlen.

Kundenerfolgsmetrik	Leistung 2023
Kundenbindungsrate	92.4%
Net Promoter Score	68
Kundenzufriedenheitswert	4.7/5

KORE Group Holdings, Inc. (KORE) – Geschäftsmodell: Kanäle

Direkte Vertriebsteams für Unternehmen

Seit dem 4. Quartal 2023 verfügt die KORE Group über ein engagiertes Unternehmensvertriebsteam von etwa 42 Direktvertriebsexperten, die auf IoT- und Konnektivitätsmärkte abzielen.

Vertriebsteam-Metrik	Daten für 2023
Total Enterprise-Vertriebsmitarbeiter	42
Durchschnittliche jährliche Verkaufsquote pro Vertreter	1,2 Millionen US-Dollar
Geografische Abdeckung	Nordamerika, Europa, Asien-Pazifik

Digitale Online-Plattformen

KORE nutzt mehrere digitale Plattformen für die Kundenbindung und Servicebereitstellung.

• KORE.cloud-Plattform
• IoT-Konnektivitätsverwaltungsportal
• Self-Service-Kundensupportsystem

Technologiepartnernetzwerke

KORE unterhält strategische Partnerschaften mit mehreren Technologieanbietern.

Partnerkategorie	Anzahl der Partner
Mobilfunknetzbetreiber	27
Hardwarehersteller	19
Cloud-Service-Anbieter	12

Branchenkonferenzmarketing

Im Jahr 2023 nahm KORE an acht großen Branchenkonferenzen teil und generierte schätzungsweise 215 qualifizierte Unternehmenskontakte.

Digitales Marketing und webbasierte Lead-Generierung

Die digitalen Marketingbemühungen von KORE generierten im Jahr 2023 durch gezielte Online-Kampagnen rund 3.750 marketingqualifizierte Leads.

Digitale Marketingmetrik	Leistung 2023
Qualifizierte Leads vermarkten	3,750
Monatliche Website-Besucher	52,000
Conversion-Rate	2.3%

KORE Group Holdings, Inc. (KORE) – Geschäftsmodell: Kundensegmente

Enterprise-IoT-Technologieunternehmen

Ab dem vierten Quartal 2023 beliefert KORE weltweit mehr als 3.500 IoT-Unternehmenskunden.

Merkmale des Kundensegments	Marktdurchdringung
Fortune-500-Unternehmens-IoT-Kunden	67 aktive Unternehmenskunden
Jahresumsatz aus dem IoT-Segment	187,4 Millionen US-Dollar im Jahr 2023

Transport- und Logistikunternehmen

KORE bietet IoT-Konnektivitätslösungen für 1.250 Transport- und Logistikunternehmen.

• Flottenmanagementlösungen bereitgestellt
• Telematik-Tracking-Systeme
• Echtzeit-Asset-Überwachung

Logistik-Kundenkennzahlen	Datenpunkte
Vernetzte Fahrzeuge	425.000 Fahrzeuge verfolgt
Umsatz des Logistiksegments	52,6 Millionen US-Dollar im Jahr 2023

Anbieter von Gesundheitstechnologie

KORE unterstützt 850 Kunden im Gesundheitswesen mit spezialisierter IoT-Konnektivität.

IoT-Segment im Gesundheitswesen	Metriken
Anschlüsse für medizinische Geräte	215.000 aktive Geräteverbindungen
Einnahmen aus dem Gesundheitswesen	41,3 Millionen US-Dollar im Jahr 2023

Hersteller von Industrieanlagen

KORE beliefert 975 Industrieanlagenhersteller mit fortschrittlichen IoT-Lösungen.

• Intelligente Fertigungskonnektivität
• Vorausschauende Wartungssysteme
• Verfolgung der Geräteleistung

Industrielle IoT-Metriken	Datenpunkte
Vernetzte Industriemaschinen	312.000 Maschinen überwacht
Umsatz des Industriesegments	63,7 Millionen US-Dollar im Jahr 2023

Intelligente Infrastrukturorganisationen

KORE bietet IoT-Konnektivität für 620 Smart-Infrastruktur-Clients.

Segment Intelligente Infrastruktur	Metriken
Smart City-Bereitstellungen	178 kommunale Projekte
Umsatz mit Infrastruktur-IoT	35,9 Millionen US-Dollar im Jahr 2023

KORE Group Holdings, Inc. (KORE) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungsinvestitionen

Für das Geschäftsjahr 2023 meldete KORE Group Holdings, Inc. Forschungs- und Entwicklungskosten in Höhe von 12,4 Millionen US-Dollar, was etwa 15,6 % der gesamten Betriebskosten entspricht.

Geschäftsjahr	F&E-Investitionen	Prozentsatz der Betriebskosten
2023	12,4 Millionen US-Dollar	15.6%

Wartung der Cloud-Infrastruktur

Die jährlichen Wartungskosten für die Cloud-Infrastruktur der KORE Group wurden im Jahr 2023 auf 5,7 Millionen US-Dollar geschätzt und decken mehrere Cloud-Dienstanbieter und den Rechenzentrumsbetrieb ab.

• Kosten für die Infrastruktur von Amazon Web Services (AWS): 2,3 Millionen US-Dollar
• Kosten für die Microsoft Azure-Infrastruktur: 1,9 Millionen US-Dollar
• Zusätzliche Cloud-Dienstanbieter: 1,5 Millionen US-Dollar

Vertriebs- und Marketingkosten

Im Jahr 2023 stellte die KORE Group 18,2 Millionen US-Dollar für Vertriebs- und Marketingaktivitäten bereit, was 22,9 % der gesamten Betriebskosten entspricht.

Ausgabenkategorie	Gesamtbetrag	Prozentsatz der Betriebskosten
Vertrieb und Marketing	18,2 Millionen US-Dollar	22.9%

Betriebskosten der Technologieplattform

Die Betriebskosten für die Technologieplattform der KORE Group beliefen sich im Jahr 2023 auf 7,9 Millionen US-Dollar und deckten Softwarelizenzierung, Wartung und Plattformentwicklung ab.

• Softwarelizenzierung: 2,6 Millionen US-Dollar
• Plattformwartung: 3,1 Millionen US-Dollar
• Modernisierung der Technologieinfrastruktur: 2,2 Millionen US-Dollar

Gebühren für globale Telekommunikationsnetze

Die globalen Telekommunikationsnetzgebühren für die KORE Group beliefen sich im Jahr 2023 auf insgesamt 6,5 Millionen US-Dollar und unterstützten internationale IoT-Konnektivitätsdienste.

Netzwerkanbieter	Jährliche Netzwerkgebühren
Tier-1-Telekommunikationsanbieter	4,3 Millionen US-Dollar
Regionale Netzbetreiber	2,2 Millionen US-Dollar

KORE Group Holdings, Inc. (KORE) – Geschäftsmodell: Einnahmequellen

Abonnementbasierte Konnektivitätsdienste

KORE meldete im dritten Quartal 2023 einen Umsatz mit Konnektivitätsdiensten in Höhe von 39,4 Millionen US-Dollar, was ein Kernsegment seines wiederkehrenden Umsatzmodells darstellt.

Servicetyp	Jahresumsatz (2023)	Wachstumsrate
Mobilfunkkonnektivität	152,6 Millionen US-Dollar	8.3%
Satellitenkonnektivität	24,3 Millionen US-Dollar	5.7%

Gebühren für die IoT-Geräteverwaltung

KORE generiert Einnahmen aus der Geräteverwaltung durch umfassende IoT-Plattformdienste.

• Durchschnittliche monatliche Geräteverwaltungsgebühr: 1,75 $ pro angeschlossenem Gerät
• Insgesamt verwaltete IoT-Geräte: 8,2 Millionen ab Q3 2023
• Jährlicher Umsatz mit der IoT-Plattform: 43,2 Millionen US-Dollar

Professionelle Beratungsleistungen

KORE bietet spezialisierte IoT-Beratung mit dedizierten Einnahmequellen.

Beratungsdienst	Durchschnittlicher Projektwert	Jahresumsatz
IoT-Strategieberatung	$85,000	6,7 Millionen US-Dollar
Implementierungsdienste	$120,000	9,3 Millionen US-Dollar

Gebühren für die Netzwerkintegration

Netzwerkintegrationsdienste trugen im Jahr 2023 18,5 Millionen US-Dollar zum Umsatz bei.

• Durchschnittlicher Wert eines Netzwerkintegrationsprojekts: 275.000 US-Dollar
• Gesamtzahl der im Jahr 2023 abgeschlossenen Netzwerkintegrationsprojekte: 67

Hardware- und Softwarelizenzierung

KORE generiert Lizenzeinnahmen durch proprietäre IoT-Technologien.

Lizenzkategorie	Jahresumsatz	Lizenzmodell
Lizenzierung von Softwareplattformen	22,6 Millionen US-Dollar	Pro Gerät/pro Monat
Lizenzierung von Hardwaremodulen	14,3 Millionen US-Dollar	Unbefristete Laufzeit und Abonnement

KORE Group Holdings, Inc. (KORE) - Canvas Business Model: Value Propositions

You're looking to understand the core value KORE Group Holdings, Inc. (KORE) delivers to its customers, which is all about making complex global Internet of Things (IoT) deployments manageable and reliable. Here are the hard numbers and facts that back up their claims as of late 2025.

Simplifying the complexity of global IoT deployment and management.

KORE Group Holdings, Inc. positions itself as a pioneer, leader, and trusted advisor whose purpose-built solutions simplify the complexity of IoT for organizations of all sizes. This simplification translates into measurable operational and business results for their clients. For instance, as of the third quarter of 2025, KORE was managing 20.5 million total IoT connections, up 9% from 18.8 million in the same period last year, demonstrating their ability to handle scale while simplifying management.

Mission-critical IoT solutions with high reliability and security.

The value proposition centers on dependability for mission-critical applications. KORE Group Holdings, Inc. has achieved a significant scale milestone, surpassing 20 million total IoT connections by mid-2025, which cements their role as a dependable global provider. This reliability is recognized externally; KORE was named a top-tier IoT specialist in the Transforma Insights 2025 Communications Service Provider IoT Peer Benchmarking Report on November 4, 2025. The company's focus on profitable growth is reflected in its financial performance, with Adjusted EBITDA growing to $14.5 million in Q3 2025, up 12% year-over-year.

Global reach and deployment agility across over 180 countries.

KORE Group Holdings, Inc. offers extensive global reach, supporting deployments across more than 180 countries globally, with managed services deployed across 23 countries and 45 carrier integrations. They operate as a global mobile virtual network operator (MVNO), offering multi-carrier connectivity in over 200 countries and territories. This global footprint has been instrumental for customers like Status Awareness Systems Australia, enabling them to grow into new regions.

Accelerating customers' business outcomes through deep IoT knowledge.

The company emphasizes that its deep IoT knowledge and experience accelerate and materially impact customers' business outcomes. This is evident in their revenue mix, where IoT Solutions Revenue grew by 25% year-over-year in Q2 2025, reaching $15.2 million, indicating successful deployment of advanced solutions. The overall 2025 revenue guidance, as stated in May 2025, was projected to be between $288 million and $298 million.

Single-pane-of-glass management for multi-carrier connectivity.

A key differentiator is the ability to provide a unified management experience, especially for multi-carrier needs. KORE secured a major win in fleet management specifically because the customer needed true multi-carrier capabilities and superior economics using KORE's SuperSIM technology. This capability is part of their portfolio which includes the KORE One Platform and eSIM technologies like OmniSIM and SuperSim.

Here's a snapshot of the operational scale supporting these value propositions as of late 2025:

Metric	Value (Latest Reported)	Date/Period End
Total IoT Connections	20.5 million	September 30, 2025 (Q3 2025)
Total IoT Connections	20.1 million	June 30, 2025 (Q2 2025)
Global Coverage (Countries/Territories)	Over 180 countries / Over 200	Late 2025
Carrier Integrations	45	Mid-2025
Q3 2025 Revenue	$68.7 million	Q3 2025
Q3 2025 Adjusted EBITDA	$14.5 million	Q3 2025

The focus on advanced technology is clear, with KORE citing leadership in eSIM innovation and SGP.32 deployment focus as areas where they are investing to stay ahead.

Finance: draft 13-week cash view by Friday.

KORE Group Holdings, Inc. (KORE) - Canvas Business Model: Customer Relationships

Dedicated account management for large enterprise customers.

KORE Group Holdings, Inc. serves a base that has grown to over 20.5 million Total IoT Connections as of September 30, 2025. This scale suggests a tiered relationship structure where the largest enterprise deployments receive dedicated attention to manage the complexity inherent in mission-critical Internet of Things (IoT) environments.

Self-service and platform-based tools for connectivity management.

KORE Group Holdings, Inc. is unifying the customer experience on its core KORE One platform. To enhance this, the company introduced Corey, an AI powered live assistant, in the second quarter of 2025 to provide instant customer support. This platform approach supports self-service for routine connectivity management tasks.

Customer intimacy model focused on deep vertical expertise.

KORE Group Holdings, Inc. is recognized for its customer intimacy model, which is supported by deep vertical specialization. The company was cited in the 2025 Transforma Insights Benchmarking Report for its strengths in this area.

The focus areas where this expertise is applied include:

• Healthcare
• Fleet
• Industrial IoT

Proactive support for complex, mission-critical IoT deployments.

Customer testimonials highlight the value placed on KORE Group Holdings, Inc.'s hands-on approach to complex issues, which goes beyond just providing carrier-agnostic bandwidth solutions. One customer noted KORE's willingness to step in and solve complex challenges, calling their support proactive. This level of engagement is critical for mission-critical deployments where downtime is costly.

Long-term contracts for recurring connectivity services.

KORE Group Holdings, Inc. adopted eARR (Estimated Annual Recurring Revenue) as a key performance metric beginning in fiscal year 2025 to better reflect its recurring revenue business model. The company discontinued using TCV (Total Contract Value) as a key operational metric starting in fiscal year 2025. As of September 30, 2025, the sales funnel contained opportunities with an eARR of approximately $80 million. Customer retention, viewed from a revenue perspective using DBNER (Dollar-Based Net Expansion Rate), was 98% for the twelve months ended September 30, 2025.

The growth in the installed base, which drives recurring connectivity revenue, is a key indicator of successful long-term relationships:

Metric	Q1 2025 End	Q2 2025 End	Q3 2025 End
Total Connections (Millions)	19.8	20.1	20.5
Year-over-Year Connection Growth	8%	8%	9%

The Dollar-Based Net Expansion Rate (DBNER) shows the following trend:

• Twelve Months Ended September 30, 2025: 98%
• Twelve Months Ended September 30, 2024: 95%

Finance: draft 13-week cash view by Friday.

KORE Group Holdings, Inc. (KORE) - Canvas Business Model: Channels

You're looking at how KORE Group Holdings, Inc. (KORE) gets its solutions-from connectivity to full-stack IoT enablement-into the hands of enterprise customers. Their channel strategy is clearly layered, balancing direct engagement for complex solutions with a broad partner network for scale.

The core of their go-to-market relies on a mix of direct sales and channel leverage. For instance, in the second quarter of 2025, the IoT Connectivity Revenue stood at $56.1 million, while IoT Solutions Revenue was $15.2 million. This split shows where the volume versus the high-touch sales effort lies. To be fair, the Solutions revenue grew a strong 25% year-over-year in Q2 2025, suggesting that direct engagement with large enterprises for complex deployments is paying off.

The direct sales force is definitely zeroed in on those big wins. KORE is recognized for its deep vertical specialization, particularly in sectors like healthcare, fleet, and industrial IoT. Landing a new partnership, like the one with Winnebago for their RV platform, is a direct sales success that contributes to the Solutions revenue stream, which was expected to deliver $2.1 million in estimated annual recurring revenue (eARR) from new business wins in Q1 2025.

The indirect channel is crucial for scaling the connectivity backbone. KORE explicitly noted an expansion of its indirect channel in the first quarter of 2025 as part of its focus on profitable growth. This channel likely drives a significant portion of the pure connectivity revenue. Consider the sheer scale: by the third quarter of 2025, KORE was supporting 20.5 million Total IoT Connections. That kind of scale requires partners to reach diverse customer bases efficiently.

Here's a quick look at how the revenue mix shifted between Q1 and Q2 2025, which gives you a hint about the channel dynamics:

Metric	Q1 2025 Amount	Q2 2025 Connectivity %	Q2 2025 Solutions Amount
Revenue Component	Total Revenue: $72.14 million	Connectivity Revenue: 82%	Solutions Revenue: $15.2 million
Connectivity Revenue	Services: $55.43 million	Connectivity Revenue: $55.8 million	Solutions Revenue Growth (YoY)
Product Sales	Product Sales: $16.71 million	Solutions Revenue: 18%	Solutions Revenue Growth (YoY): +25%

When you look at the global distribution aspect, KORE emphasizes its extensive global carrier agreements, which is the foundation for supporting deployments across the world. While the prompt suggests operations in over 180 countries, the hard data shows momentum: Total Connections grew from 18.3 million at the end of Q1 2024 to 20.5 million by the end of Q3 2025. That's growth of over 2.2 million connections in a year, demonstrating their ability to scale globally, which is a key function of their channel and carrier relationships.

The proprietary digital platforms are the engine for managing this scale. KORE leverages its IoT enablement platforms, which include offerings like the KORE One Platform and KORE OmniCore. These platforms are critical for simplifying global IoT adoption and managing the connections. The growth in total connections is a direct indicator of the platform's effectiveness in onboarding and managing devices, moving from 19.8 million connections at the end of Q1 2025 to 20.5 million by the end of Q3 2025.

The global reach is supported by these digital tools and carrier relationships, allowing KORE to deliver on its promise of enabling customers to deploy and manage devices anywhere. This is underpinned by their operational scale, which is evidenced by the connection base:

• Total IoT Connections reached 20 million as of June 2025.
• Total IoT Connections reached 20.1 million by June 30, 2025.
• Total IoT Connections reached 20.5 million by September 30, 2025.
• The company is accelerating toward a next milestone of 30 million connections.

If onboarding takes 14+ days, churn risk rises; KORE needs its platforms to keep that cycle fast for enterprise adoption.

KORE Group Holdings, Inc. (KORE) - Canvas Business Model: Customer Segments

You're looking at the core customer base KORE Group Holdings, Inc. relies on to drive its Internet of Things (IoT) connectivity and solutions business. This isn't about small-scale projects; it's about massive, global deployments.

Large enterprises and organizations of all sizes globally form the foundation of KORE Group Holdings, Inc.'s revenue, primarily through its IoT Connectivity services. The sheer scale is best seen in the total active connections managed across their platform. As of the third quarter of 2025, KORE Group Holdings, Inc. reported 20.5 million Total Connections, which was up 9% year-over-year from the 18.8 million connections reported in the third quarter of 2024. This connectivity revenue stream is the most significant, accounting for 79% of total revenue for the year ended 2024. The pricing model here is typically per subscriber per month for the device's lifetime, often secured via multi-year contracts. Still, the Average Revenue per User (ARPU) per month saw a slight dip to $0.94 in Q3 2025, down from $1.01 in Q3 2024.

The company's strategy emphasizes capturing more wallet share from existing customers, evidenced by securing $11.3 million in new and expansion EARR (Estimated Annual Recurring Revenue) during the third quarter of 2025. This shows that while the total connection count grows, expansion within the existing enterprise base is a key driver.

KORE Group Holdings, Inc. focuses its efforts on specific, high-value verticals where IoT complexity is high. The company is recognized for its deep vertical focus, particularly in the following areas:

• Healthcare, including remote patient monitoring applications.
• Fleet and Vehicle management, serving telematics providers.
• Industrial IoT (IIoT) and manufacturing sectors.

The IoT Solutions segment, which includes device management and configuration services, is growing faster than pure connectivity, making these verticals crucial. In Q2 2025, IoT Solutions Revenue grew 25% year-over-year to $15.2 million, compared to a 1% year-over-year growth for IoT Connectivity Revenue, which was $56.1 million for that quarter.

Here's a look at the revenue contribution by segment based on the most recent full-year data available:

Revenue Segment	Percentage of Total Revenue (FY 2024)	Q2 2025 Revenue Amount
IoT Connectivity	79%	$56.1 million
IoT Solutions	21%	$15.2 million

The focus on specialized sectors like Connected Health is a stated strength, with KORE Group Holdings, Inc. being cited as a top-tier IoT specialist for its leadership in these areas.

For Fleet Management and Asset Monitoring, KORE Group Holdings, Inc. provides the underlying connectivity that powers telematics providers. The total connection base of over 20.5 million as of Q3 2025 includes a significant portion dedicated to these mobile asset tracking use cases.

In the Industrial IoT (IIoT) and manufacturing sectors, the growth in IoT Solutions revenue points to deeper integration beyond simple connectivity. The IoT Solutions Margin improved to 33.0% in Q1 2025.

The company is also investing in advanced capabilities that serve customers needing AI-driven security and complex technology. KORE Group Holdings, Inc. launched a new AI assistant that reportedly reduced support tickets by over 50%, which directly benefits customers deploying complex, high-touch IoT security or management solutions.

• Total Connections reached 19.8 million in Q1 2025.
• IoT Solutions Revenue was $18.23 million in Q1 2025.
• Adjusted EBITDA grew 12% year-over-year to $14.5 million in Q3 2025.
• Total Revenue for Q3 2025 was $68.7 million.

Finance: draft 13-week cash view by Friday.

KORE Group Holdings, Inc. (KORE) - Canvas Business Model: Cost Structure

You're looking at the direct costs KORE Group Holdings, Inc. incurs to run its IoT hyperscaler and service delivery platform as of late 2025. Honestly, for a company focused on connectivity, the carrier fees are the biggest variable cost, but the public filings give us the consolidated view first.

The total Operating expenses for KORE Group Holdings, Inc. in the third quarter of 2025 were reported at exactly $42.2 million. That figure represented a decrease of $1.7 million compared to the third quarter of 2024, which management attributed to cost savings realized from restructuring actions executed over the preceding twelve months.

Regarding capital deployment, KORE Group Holdings, Inc. reported that Free Cash Flow improved by $1.1 million to negative $1.1 million in Q3 2025 compared to the prior year quarter. The driver for this improvement was explicitly stated as a lower level of capitalized expenditures for infrastructure and technology upgrades during the period.

The Cost of IoT Connectivity, which primarily covers carrier fees and network access costs, is embedded within the Cost of Revenue, which we can infer from the gross margin figures. The overall Non-GAAP Gross Margin for KORE Group Holdings, Inc. in Q3 2025 was 55.2%. This margin is the result of the blended performance across the two main business lines.

Technology development and platform maintenance costs, along with Sales, General, and Administrative (SG&A) expenses, are aggregated into the total Operating Expenses figure of $42.2 million for Q3 2025. Specific, segregated dollar amounts for these components weren't broken out in the latest disclosures, so you have to treat that $42.2 million as the ceiling for those overheads.

Here's a look at the revenue and margin structure that dictates the Cost of Goods Sold (COGS), which includes those critical carrier fees:

Metric	Q3 2025 Amount	Context/Comparison
Total Revenue	$68.7 million	Roughly flat year-over-year
IoT Connectivity Revenue	$56.7 million	Showed sequential growth of 1.7% over Q2 2025
IoT Solutions Revenue	$11.9 million	Down slightly year-over-year due to order timing
IoT Connectivity Non-GAAP Gross Margin	59.6%	Down from 60.9% in Q3 2024
IoT Solutions Non-GAAP Gross Margin	34.3%	Down from 37% in Q3 2024

To be fair, understanding the true cost of connectivity requires knowing the COGS for the Connectivity segment, but we only have the margin. If the Connectivity Revenue was $56.7 million and the margin was 59.6%, the associated cost of revenue for that segment was approximately $22.91 million (calculated as $56.7 million (1 - 0.596)).

The cost structure is clearly weighted toward the direct costs of providing the network service, given the high revenue contribution from IoT Connectivity. You see the discipline in the OpEx reduction, which helped push Adjusted EBITDA up to $14.5 million, a 12% increase year-over-year.

• Cost of IoT Connectivity (Carrier Fees) is the largest component of COGS.
• Operating Expenses totaled $42.2 million in Q3 2025.
• Technology development and SG&A are bundled within Operating Expenses.
• Capital Expenditures were at a lower level in Q3 2025 compared to Q3 2024.
• Overall Non-GAAP Gross Margin stood at 55.2% for the quarter.

Finance: draft 13-week cash view by Friday.

KORE Group Holdings, Inc. (KORE) - Canvas Business Model: Revenue Streams

You're looking at the engine room of KORE Group Holdings, Inc. (KORE)'s value capture, which is heavily weighted toward the sticky, long-term nature of connectivity. The core of the revenue model is built around recurring service fees, which historically accounts for over 90% of total revenue. This high recurrence is what analysts like me focus on when assessing valuation stability.

Looking at the most recent hard data from the third quarter of 2025, the revenue streams are clearly segmented. The primary driver remains the connectivity piece. IoT Connectivity Revenue hit $56.7 million in Q3 2025, which management noted showed sequential quarter-over-quarter growth of 1.7% in that period. This is the highly recurring foundation we want to see growing.

The secondary stream comes from the more integrated offerings. IoT Solutions Revenue, which bundles hardware, software, and managed services, brought in $11.9 million in Q3 2025. While this segment is important for driving stickiness and higher-value contracts, it saw a slight decline in the quarter, which is something to watch as the company works through its transformation.

Here's a quick look at how the top line broke down in Q3 2025, based on the reported segment figures against the total revenue of $68.7 million for the quarter:

Revenue Component	Q3 2025 Amount
Total Revenue	$68.7 million
IoT Connectivity Revenue	$56.7 million
IoT Solutions Revenue	$11.9 million

The overall health of the connectivity base, which underpins that recurring revenue, is measured by key performance indicators. You need to track these metrics to gauge future revenue durability. For instance, the Average Revenue Per User (ARPU) was reported at $0.94 per month in Q2 2025, and this figure held flat into Q3 2025. The total number of connections supporting this revenue base grew to 20.5 million by the end of Q3 2025, a 9% increase year-over-year.

Regarding the full-year outlook, KORE Group Holdings, Inc. had projected full-year 2025 revenue to be between $288 million and $298 million. However, you must note that management suspended this guidance in November 2025 due to ongoing discussions around a potential strategic transaction. This uncertainty means the final number will depend entirely on the outcome of that review process.

To summarize the key revenue-related statistics as of late 2025:

• Q3 2025 IoT Connectivity Revenue: $56.7 million.
• Q3 2025 IoT Solutions Revenue: $11.9 million.
• Historical Recurring Service Revenue Share: Over 90%.
• FY 2025 Revenue Projection (Pre-Suspension): $288 million to $298 million.
• ARPU (Q2/Q3 2025): $0.94 per month.
• Total Connections (End of Q3 2025): 20.5 million.

Finance: draft 13-week cash view by Friday.