KORE Group Holdings, Inc. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
Operating activities:
Net loss
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization
Intangible asset impairment loss
Amortization of deferred financing costs
Amortization of discount on Backstop Notes
Loss on extinguishment of debt
Goodwill impairment
Stock-based compensation expense
Deferred income taxes
Non-cash foreign currency loss
Change in fair value of warrant liabilities to affiliates
Affiliate
Total change in fair value of warrant liabilities to affiliates
Amortization of operating lease right-of-use assets
Loss on lease termination
Loss on sale of assets
Provision for credit losses
Change in fair value of warrant liability
Provision for inventory write-downs
Unrealized (gain) loss on foreign currency translation
Other
Changes in operating assets and liabilities:
Accounts receivable
Inventories
Prepaid expenses and other assets
Accounts payable and accrued liabilities
Accrued interest due to affiliate
Affiliate
Total accrued interest due to affiliate
Deferred revenue
Income taxes payable
Operating lease liabilities
Other assets and liabilities

Net cash provided by operating activities
Investing activities:
Purchases of property and equipment
Additions to intangible assets
Acquisitions of business combinations, net of cash acquired
Proceeds from sale of assets
Net cash used in investing activities
Financing activities:
Proceeds from revolving credit facility
Repayment on revolving credit facility
Repayment of term loan
Repayment of other borrowings - notes payable
Proceeds from equity portion of convertible debt, net of issuance costs
Repayment of debt
Purchase of treasury stock
Principal payments under finance lease obligations
Payment of capital lease obligations
Payment of employee tax withholdings through cancelled shares of stock
Proceeds from issuance of debt
Payment of original issue discount
Payment of deferred financing costs
Repayment of related party note
Proceeds from CTAC and PIPE financing, net of issuance costs
Settlements of preferred shares
Proceeds from mandatorily redeemable preferred stock due to affiliate
Affiliate
Total proceeds from mandatorily redeemable preferred stock due to affiliate
Private offering and merger financing refund
Net cash used in financing activities

Effect of Exchange Rate Change on Cash and Cash Equivalents
Effect of exchange rate changes on cash
Net increase (decrease) in cash and restricted cash
Cash and restricted cash, beginning of year
Cash and restricted cash, end of year
Supplemental cash flow information:
Cash paid for interest
Cash paid for income taxes (net of refunds)
Non-cash investing and financing activities:
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities
ASU 2020-06 Adoption
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities upon the adoption of ASC 842
Premium finance agreement
Equity financing fees accrued
Common shares issued to preferred shareholders
Equity financing fees settled in common shares
Common shares issued to warrant holders
Common shares issued to option holders pursuant to the Cancellation Agreements
Sponsor shares distributed to lender under Backstop Agreement
Non-cash consideration (stock) issued for acquisition
Capital leases
Issuance of penny warrants
Right-of-use asset derecognized in connection with early lease termination
Purchases of property and equipment in accounts payable and accrued liabilities

Reconciliation of cash and restricted cash, end of year:
Cash
Restricted cash

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