Kore Group Holdings, Inc. (KORE): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da conectividade da Internet das Coisas (IoT), a Kore Group Holdings, Inc. surge como uma força transformadora, oferecendo às empresas um ecossistema abrangente de soluções sem fio que transcendem as barreiras tradicionais de conectividade. Ao criar meticulosamente um modelo de negócios inovador que integra infraestrutura tecnológica avançada a parcerias estratégicas, a Kore entrega Gerenciamento de IoT de ponta a ponta Isso simplifica implantações sem fio complexas em diversas indústrias. Sua abordagem única capacita as empresas a navegar no mundo intrincado da conectividade global com eficiência sem precedentes, tornando -os um participante fundamental na jornada de transformação digital dos negócios modernos.

Kore Group Holdings, Inc. (KORE) - Modelo de negócios: Parcerias -chave

Operadores de rede móvel que fornecem conectividade celular

A KORE faz parceria com vários operadores de rede móvel globalmente para garantir uma cobertura abrangente de conectividade da IoT.

Operador de rede móvel	Região de cobertura	Status da parceria
Verizon	Estados Unidos	Parceria estratégica ativa
AT&T	Estados Unidos	Parceria estratégica ativa
Vodafone	Europa	Parceria global ativa

Fornecedores de tecnologia da Internet das Coisas (IoT)

Kore colabora com os principais fornecedores de tecnologia da IoT para aprimorar suas ofertas de serviços.

• Sierra sem fio
• Telit Communications
• Comunicações Aeris
• Holograma

Provedores de serviços em nuvem

A Kore mantém parcerias estratégicas com os principais provedores de serviços em nuvem para apoiar sua infraestrutura de plataforma IoT.

Provedor de nuvem	Serviços utilizados	Escopo da parceria
Amazon Web Services (AWS)	Infraestrutura em nuvem	Integração abrangente da plataforma de IoT
Microsoft Azure	Computação em nuvem	Soluções corporativas IoT

Fabricantes de equipamentos de telecomunicações

A KORE faz parceria com fabricantes especializados de equipamentos de telecomunicações para apoiar a conectividade do dispositivo IoT.

• Sistemas Cisco
• Ericsson
• Redes Nokia

Integradores de sistemas globais

Kore trabalha com integradores de sistemas para fornecer soluções abrangentes de IoT em vários setores.

Integrator de sistema	Especialização	Foco em parceria
Accenture	Soluções corporativas IoT	Transformação digital
IBM	Plataformas avançadas de IoT	Implementações específicas do setor

Kore Group Holdings, Inc. (KORE) - Modelo de negócios: Atividades -chave

Gerenciamento de conectividade do dispositivo IoT

Kore gerencia mais de 17 milhões de dispositivos de IoT globalmente a partir de 2023. A empresa suporta conectividade em várias tecnologias sem fio, incluindo redes celulares, satélites e de baixa potência.

Tecnologia de conectividade	Cobertura do dispositivo	Alcance global
IoT celular	12,5 milhões de dispositivos	Mais de 180 países
IoT de satélite	2,3 milhões de dispositivos	Cobertura global
LPWAN	2,2 milhões de dispositivos	Mais de 50 países

Desenvolvimento de soluções de rede sem fio

Kore investe US $ 24,3 milhões anualmente em P&D Para tecnologias de rede sem fio.

• Algoritmos de otimização de rede
• Soluções de conectividade de várias portadoras
• Tecnologias avançadas de roteamento de IoT

Enterprise IoT Platform Engineering

Suportes para a plataforma IoT de Kore 3.200 mais de clientes corporativos em várias indústrias.

Segmento da indústria	Clientes corporativos	Recursos da plataforma
Transporte	680 clientes	Gerenciamento de frota
Assistência médica	450 clientes	Monitoramento remoto
Industrial	620 clientes	Rastreamento de ativos

Serviços de conectividade de ponta a ponta

Kore fornece soluções abrangentes de conectividade com 99,5% de confiabilidade da rede.

• Aquisição de dispositivos
• Gerenciamento de conectividade
• Análise de dados
• Serviços de segurança

Gerenciamento de IoT baseado em assinatura

Kore gera US $ 187,6 milhões em receita recorrente anual de assinaturas de gerenciamento da IoT.

Camada de assinatura	Preço mensal	Nível de serviço
Basic	US $ 49/mês	Conectividade padrão
Profissional	US $ 199/mês	Monitoramento avançado
Empresa	US $ 499/mês	Acesso completo da plataforma

Kore Group Holdings, Inc. (KORE) - Modelo de negócios: Recursos -chave

Infraestrutura de conectividade IoT avançada

A KORE opera uma rede global de conectividade de IoT, abrangendo 197 países e territórios. A empresa mantém mais de 7 milhões de conexões de IoT ativas A partir do quarto trimestre 2023.

Métricas de infraestrutura de rede	Detalhes quantitativos
Países totais de cobertura	197
Conexões de IoT ativas	7,000,000+
Confiabilidade da rede	99,5% de tempo de atividade

Plataforma de gerenciamento sem fio proprietária

A plataforma de gerenciamento sem fio da Kore suporta várias tecnologias e fornece soluções abrangentes de conectividade.

• Suporta redes 2G, 3G, 4G LTE e 5G
• Recursos de gerenciamento de dispositivos integrados
• Monitoramento de conectividade em tempo real

Talento de engenharia técnica

Em 31 de dezembro de 2023, Kore empregou Aproximadamente 320 profissionais técnicos entre locais globais.

Avaria da força de trabalho de engenharia	Número de profissionais
Equipe técnica total	320
Engenheiros de software	135
Arquitetos de rede	45

Parcerias estratégicas de telecomunicações

Kore mantém parcerias com Mais de 40 transportadoras de telecomunicações globais.

• Principais parcerias de operadora na América do Norte
• Colaborações de rede de telecomunicações européias
• Acordos da transportadora da região da Ásia-Pacífico

Soluções de tecnologia baseadas em nuvem escaláveis

A infraestrutura em nuvem de Kore Soluções de conectividade IoT de grau corporativo.

Métricas de tecnologia em nuvem	Especificações
Disponibilidade da plataforma em nuvem	99,99% de tempo de atividade
Capacidade de processamento de dados	Escala de petabyte
Data Centers globais	6 locais redundantes

Kore Group Holdings, Inc. (KORE) - Modelo de negócios: proposições de valor

Conectividade simplificada do dispositivo IoT em várias redes

A KORE suporta mais de 7 milhões de conexões de IoT globalmente em várias redes e tecnologias. A partir do terceiro trimestre de 2023, a empresa fornece soluções de conectividade que abrangem mais de 190 países e mais de 700 redes de transportadoras.

Cobertura de rede	Métricas de conectividade
Países globais cobertos	190+
Redes de transportadoras	700+
Conexões totais de IoT	7,000,000+

Serviços abrangentes de gerenciamento global sem fio

A KORE fornece ao gerenciamento sem fio de ponta a ponta com monitoramento e suporte em tempo real em vários setores.

• Tempo de atividade média da rede: 99,5%
• Disponibilidade de serviço em 5 continentes
• Suporte para várias tecnologias sem fio (2G, 3G, 4G, 5G, LPWAN)

Soluções IoT de ponta a ponta integradas

Categoria de solução	Penetração de mercado
Soluções de IoT de assistência médica	35% de participação de mercado
Telemática automotiva	28% de cobertura do mercado
IoT industrial	22% de penetração no mercado

Complexidade reduzida em implantações sem fio corporativas

Kore simplifica a implantação sem fio com plataformas de gerenciamento unificadas e serviços de suporte abrangentes.

• O tempo médio de implantação reduzido em 47%
• Redução de custos de 35% no gerenciamento de infraestrutura sem fio
• Plataforma única gerenciando várias tecnologias de rede

Eficiência operacional aprimorada para empresas

Métrica de eficiência	Indicador de desempenho
Redução de custos operacionais	Redução média de 32%
Velocidade de implementação	60% mais rápido em comparação aos métodos tradicionais
Resposta de suporte técnico	Tempo médio de resposta de 15 minutos

Kore Group Holdings, Inc. (KORE) - Modelo de negócios: relacionamentos com o cliente

Equipes de suporte corporativo dedicadas

A KORE fornece equipes de suporte especializadas para clientes corporativos em vários setores. A partir do quarto trimestre 2023, a empresa mantinha 47 Profissionais de suporte corporativo dedicado atendendo clientes de conectividade global.

Categoria de suporte	Número de funcionários dedicados	Tempo médio de resposta
Suporte da IoT corporativa	22	2,3 horas
Consulta técnica	15	1,7 horas
Gerenciamento de sucesso do cliente	10	3,1 horas

Portais de gerenciamento de autoatendimento da IoT

Kore oferece plataformas abrangentes de autoatendimento com Gerenciamento de conectividade em tempo real.

• Usuários totais da plataforma: 3.427 em dezembro de 2023
• Usuários ativos mensais: 1.865
• Duração média da sessão do usuário: 24 minutos

Serviços de consulta técnica

Kore fornece consulta técnica avançada em vários domínios de conectividade.

Tipo de consulta	Taxa horária	Consultas anuais
Design de arquitetura da IoT	US $ 350/hora	412
Estratégia de conectividade	US $ 275/hora	589

Soluções de conectividade personalizadas

A KORE oferece soluções de conectividade personalizadas para diversas verticais da indústria.

• Total de soluções personalizadas entregues em 2023: 276
• Indústrias servidas: saúde, transporte, fabricação, serviços públicos
• Tempo médio de desenvolvimento da solução: 6-8 semanas

Gerenciamento de sucesso do cliente em andamento

Kore mantém uma estrutura robusta de sucesso do cliente com métricas mensuráveis ​​de desempenho.

Métrica de sucesso do cliente	2023 desempenho
Taxa de retenção de clientes	92.4%
Pontuação do promotor líquido	68
Pontuação de satisfação do cliente	4.7/5

Kore Group Holdings, Inc. (KORE) - Modelo de negócios: canais

Equipes de vendas da empresa direta

A partir do quarto trimestre 2023, o Kore Group mantém uma equipe de vendas empresarial dedicada de aproximadamente 42 profissionais de vendas diretas direcionadas aos mercados de IoT e conectividade.

Métrica da equipe de vendas	2023 dados
Total de representantes de vendas empresariais	42
Cota média de vendas anual por representante	US $ 1,2 milhão
Cobertura geográfica	América do Norte, Europa, Ásia-Pacífico

Plataformas digitais online

A KORE utiliza várias plataformas digitais para envolvimento do cliente e entrega de serviços.

• Plataforma Kore.Cloud
• Portal de gerenciamento de conectividade da IoT
• Sistema de suporte ao cliente de autoatendimento

Redes de parceiros de tecnologia

Kore mantém parcerias estratégicas com vários provedores de tecnologia.

Categoria de parceiro	Número de parceiros
Operadores de rede celular	27
Fabricantes de hardware	19
Provedores de serviços em nuvem	12

Marketing da conferência da indústria

Em 2023, Kore participou de 8 principais conferências do setor, gerando cerca de 215 leads corporativos qualificados.

Marketing digital e geração de leads baseados na Web

Os esforços de marketing digital da Kore em 2023 geraram aproximadamente 3.750 leads qualificados de marketing por meio de campanhas on -line direcionadas.

Métrica de marketing digital	2023 desempenho
Leads qualificados de marketing	3,750
Visitantes mensais do site	52,000
Taxa de conversão	2.3%

Kore Group Holdings, Inc. (KORE) - Modelo de negócios: segmentos de clientes

Empresas de tecnologia da IoT da empresa

A Kore atende aos mais de 3.500 clientes corporativos da IoT Technology globalmente a partir do quarto trimestre 2023.

Características do segmento de clientes	Penetração de mercado
Fortune 500 Enterprise IoT Clients	67 clientes ativos corporativos
Receita anual do segmento IoT	US $ 187,4 milhões em 2023

Empresas de transporte e logística

A KORE fornece soluções de conectividade de IoT para 1.250 empresas de transporte e logística.

• Soluções de gerenciamento de frota implantadas
• Sistemas de rastreamento de telemática
• Monitoramento de ativos em tempo real

Métricas de cliente de logística	Pontos de dados
Veículos conectados	425.000 veículos rastreados
Receita do segmento de logística	US $ 52,6 milhões em 2023

Provedores de tecnologia de saúde

A KORE suporta 850 clientes de tecnologia de saúde com conectividade IoT especializada.

Segmento de IoT da área da saúde	Métricas
Conexões de dispositivos médicos	215.000 conexões de dispositivo ativo
Receita de saúde	US $ 41,3 milhões em 2023

Fabricantes de equipamentos industriais

A Kore atende 975 fabricantes de equipamentos industriais com soluções avançadas de IoT.

• Conectividade de fabricação inteligente
• Sistemas de manutenção preditivos
• Rastreamento de desempenho do equipamento

Métricas de IoT industrial	Pontos de dados
Máquinas industriais conectadas	312.000 máquinas monitoradas
Receita do segmento industrial	US $ 63,7 milhões em 2023

Organizações de infraestrutura inteligente

A KORE fornece conectividade IoT para 620 clientes de infraestrutura inteligente.

Segmento de infraestrutura inteligente	Métricas
Implantações inteligentes da cidade	178 projetos municipais
Receita de IoT da infraestrutura	US $ 35,9 milhões em 2023

Kore Group Holdings, Inc. (KORE) - Modelo de negócios: estrutura de custos

Investimentos de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Kore Group Holdings, Inc. registrou despesas de P&D de US $ 12,4 milhões, representando aproximadamente 15,6% do total de despesas operacionais.

Ano fiscal	Investimento em P&D	Porcentagem de despesas operacionais
2023	US $ 12,4 milhões	15.6%

Manutenção da infraestrutura em nuvem

Os custos anuais de manutenção da infraestrutura em nuvem para o Kore Group foram estimados em US $ 5,7 milhões em 2023, cobrindo vários provedores de serviços em nuvem e operações de data center.

• Amazon Web Services (AWS) Custos de infraestrutura: US $ 2,3 milhões
• Custos de infraestrutura do Microsoft Azure: US $ 1,9 milhão
• Provedores adicionais de serviços em nuvem: US $ 1,5 milhão

Despesas de vendas e marketing

Em 2023, o Kore Group alocou US $ 18,2 milhões para atividades de vendas e marketing, representando 22,9% do total de despesas operacionais.

Categoria de despesa	Montante total	Porcentagem de despesas operacionais
Vendas e marketing	US $ 18,2 milhões	22.9%

Custos operacionais da plataforma de tecnologia

As despesas operacionais da plataforma de tecnologia do Kore Group em 2023 foram de US $ 7,9 milhões, cobrindo o licenciamento de software, a manutenção e o desenvolvimento da plataforma.

• Licenciamento de software: US $ 2,6 milhões
• Manutenção da plataforma: US $ 3,1 milhões
• Atualizações de infraestrutura de tecnologia: US $ 2,2 milhões

Taxas globais de rede de telecomunicações

As taxas globais de rede de telecomunicações para o Kore Group em 2023 totalizaram US $ 6,5 milhões, apoiando serviços internacionais de conectividade da IoT.

Provedor de rede	Taxas anuais de rede
Fornecedores de telecomunicações de nível 1	US $ 4,3 milhões
Operadores de rede regionais	US $ 2,2 milhões

Kore Group Holdings, Inc. (KORE) - Modelo de negócios: fluxos de receita

Serviços de conectividade baseados em assinatura

A KORE registrou a receita de serviços de conectividade de 2023 de 2023 de US $ 39,4 milhões, representando um segmento principal de seu modelo de receita recorrente.

Tipo de serviço	Receita anual (2023)	Taxa de crescimento
Conectividade celular	US $ 152,6 milhões	8.3%
Conectividade de satélite	US $ 24,3 milhões	5.7%

Taxas de gerenciamento de dispositivos de IoT

Kore gera receita de gerenciamento de dispositivos por meio de serviços abrangentes de plataforma IoT.

• Taxa média mensal de gerenciamento de dispositivos: US $ 1,75 por dispositivo conectado
• Dispositivos IoT gerenciados totais: 8,2 milhões a partir do terceiro trimestre de 2023
• Receita anual da plataforma IoT: US $ 43,2 milhões

Serviços de Consultoria Profissional

A Kore oferece consultoria especializada em IoT com fluxos de receita dedicados.

Serviço de consultoria	Valor médio do projeto	Receita anual
Consultoria de estratégia da IoT	$85,000	US $ 6,7 milhões
Serviços de implementação	$120,000	US $ 9,3 milhões

Cobranças de integração de rede

Os serviços de integração de rede contribuíram com US $ 18,5 milhões em receita para 2023.

• Valor médio do projeto de integração de rede: $ 275.000
• Projetos totais de integração de rede concluídos em 2023: 67

Hardware e licenciamento de software

Kore gera receita de licenciamento por meio de tecnologias proprietárias da IoT.

Categoria de licenciamento	Receita anual	Modelo de licenciamento
Licenciamento da plataforma de software	US $ 22,6 milhões	Por dispositivo/por mês
Módulo de hardware Licenciamento	US $ 14,3 milhões	Perpétuo e assinatura

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.