KORE Group Holdings (NYSE: KORE) is an IoT connectivity company that provides connectivity services, location-based services, device solutions, and managed and professional services used in deploying and scaling IoT applications globally. Revenue comes from two streams: services, which generated $227.3M in FY2025 (down from $234.2M in FY2024), and products, which generated $58.7M in FY2025 (up from $51.8M in FY2024), for total revenue of approximately $285.9M in FY2025. KORE describes itself as one of the largest global independent IoT enablers, delivering connectivity through partnerships with major mobile network operators. Operations are primarily located in North America, and the company is incorporated in Delaware. As of the 10-K filed March 31, 2026, KORE had entered a merger agreement with KONA Parent, with major shareholders Searchlight Capital Partners, Cerberus, and Abry agreeing to vote in favor of the transaction.

Revenue model

Subscription and recurring services revenue from IoT connectivity and managed services ($227.3M, FY2025), supplemented by transactional product revenue from device solutions ($58.7M, FY2025). Services carry a non-GAAP margin of 60.3% in FY2025; products carry a non-GAAP margin of approximately 26.5% in FY2025.

Products and services

IoT connectivity services, location-based services, device solutions, managed services, and professional services. The IoT platform is delivered in partnership with mobile network operators and supports secure connectivity for mobile and fixed devices across vertical markets.

Customers and end markets

Enterprise customers deploying IoT applications across multiple vertical markets. Customers require 24/7 uptime for IoT device connectivity. Specific customer names, counts, and end-market breakdowns are not disclosed in the filing excerpts.

Value-chain role

Independent intermediary between mobile network operators and enterprise IoT customers. KORE manages the network infrastructure layer, routing the majority of customer network traffic through its own hardware, and resells connectivity and services through channel partners and resellers worldwide.

Geographic exposure

Operations primarily in North America per the 10-K filed March 31, 2026. The platform supports global IoT deployments through mobile network operator partnerships.

Source: SEC 10-K, filed 2026-03-31

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