KORE Group Holdings Sees FY23 Revenue $300M-$310M Vs $299.15M Est.
Portfolio Pulse from Happy Mohamed
KORE Group Holdings has maintained its financial outlook for FY23, expecting revenues between $300M-$310M, compared to an estimate of $299.15M. The company also anticipates an adjusted EBITDA in the range of $60M-$62M, with a margin of approximately 20%. The company's IoT CaaS business has seen an increase in connections volume following the completion of the 2G/3G sunsets.
August 09, 2023 | 9:46 pm
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POSITIVE IMPACT
KORE Group Holdings expects FY23 revenues to surpass estimates, indicating a positive financial outlook. The company's IoT CaaS business is also seeing increased connections volume.
The company's revenue and EBITDA forecasts for FY23 are higher than estimates, indicating a positive financial outlook. Additionally, the increase in connections volume in the IoT CaaS business suggests potential for further growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100