KORE Group Holdings Reports Strong Second Quarter Earnings, Acquires Twilio’s IoT Business
KORE Group Holdings, Inc. (NYSE:KORE) announced their second quarter earnings in a conference call on August 12, 2023. The call was led by the company’s Vice President of Investor Relations, Charley Brady, who provided an overview of the earnings presentation and press release. Both of these documents can be found on the company’s Investor Relations page.
During the call, KORE Group Holdings’ President and CEO, Romil Bahl, highlighted key events and announcements from the second quarter. This included the acquisition of Twilio’s IoT business, which Bahl believes will accelerate the company’s journey to becoming the world’s first IoT hyper-scaler. This acquisition not only adds a world-class IoT connectivity product, but also expands KORE’s one-stop shop position by adding build to their deploy, manage, and scale value proposition. Bahl also announced the launch of their preconfigured managed solution, offering high-bandwidth 5G cellular connectivity through fixed wireless access for retailers, restaurants, and other multisite companies.
KORE Group Holdings’ Chief Financial Officer, Paul Holtz, discussed the company’s strong financial results for the second quarter. The company reported a significant increase in revenue and net income, driven by the successful integration of their recent acquisitions and strong demand for their products and services. Holtz also noted that the company will be discussing non-GAAP financial information, which can be found in the reconciliation tables provided in the earnings release and presentation. KORE Group Holdings does not undertake to publicly update or revise any forward-looking statements after the webcast.
KORE Group Holdings reported strong second quarter earnings, highlighted by the acquisition of Twilio’s IoT business and the launch of their preconfigured managed solution for high-bandwidth 5G cellular connectivity.
