Mission Statement, Vision, & Core Values of KORE Group Holdings, Inc. (KORE)

Do you know what drives KORE Group Holdings, Inc., a key player in the Internet of Things (IoT) sector, to connect, manage, and secure the world's assets with innovative IoT solutions? Understanding a company's mission, vision, and core values provides insight into its strategic objectives and operational principles. But how do these elements translate into real-world performance, especially when KORE reported revenue of $68.9 million for the third quarter of 2024, marking a 0.4% increase from the previous year?

Let's delve into the core of KORE's identity to see how its guiding principles align with its financial achievements and strategic focus, particularly its aim to achieve revenue between $280 million and $285 million and an adjusted EBITDA between $54 million and $55 million for the full year 2024.

KORE Group Holdings, Inc. (KORE) An Overview of

KORE Group Holdings, Inc. (KORE) is recognized as a global leader in Internet of Things (IoT) solutions and IoT managed services. As of April 2025, the company specializes in providing connectivity, solutions, and analytics to businesses operating in various sectors, including healthcare, fleet management, asset monitoring, and logistics. KORE empowers these organizations to deploy, manage, and scale their IoT initiatives, enhancing operational efficiencies and driving innovation.

KORE offers a suite of services designed to support the full lifecycle of IoT deployments. These include:

• Connectivity Solutions: Global cellular and satellite connectivity services.
• IoT Solutions: Pre-configured solutions for specific industry needs, such as asset tracking and healthcare monitoring.
• Managed Services: Comprehensive management of IoT devices and networks, including monitoring, maintenance, and support.
• Analytics: Data analytics tools to derive actionable insights from IoT data.

In the fiscal year 2024, KORE Group Holdings, Inc. demonstrated robust financial performance. The company reported a record-breaking revenue of $287.2 million, marking a 10.8% increase year-over-year. Notably, recurring service revenue accounted for 93% of the total revenue, highlighting the stability and predictability of KORE's business model. The gross profit reached $132.4 million, with a gross margin of 46.1%. Despite incurring a net loss of $46.0 million, the company showed improvements in operational efficiency, with adjusted EBITDA increasing to $46.3 million.

KORE's success is attributed to its strategic focus on high-growth IoT markets and its ability to provide comprehensive, end-to-end solutions. The company's financial results reflect its strong market position and its effectiveness in capitalizing on the increasing demand for IoT technologies across various industries. KORE Group Holdings, Inc. continues to innovate and expand its offerings, solidifying its role as a key enabler of the global IoT ecosystem. To delve deeper into KORE's journey, explore: KORE Group Holdings, Inc. (KORE): History, Ownership, Mission, How It Works & Makes Money

KORE Group Holdings, Inc. (KORE) Mission Statement

KORE Group Holdings, Inc. (KORE) is a global Internet of Things (IoT) hyperscaler, delivering IoT connectivity, solutions, and analytics. Headquartered in Atlanta, Georgia, KORE empowers organizations to improve their operations by simplifying the complexities of IoT. As a pioneer in the IoT sector since 2002, KORE offers expertise and guidance to help businesses maximize their IoT investments and transform their business performance. KORE serves over 3,500 enterprise customers across various industry verticals, including connected health, fleet management, asset monitoring, retail communications services, and industrial IoT.

KORE's mission statement focuses on enabling digital transformation through IoT connectivity solutions. KORE Group Holdings, Inc. (KORE): History, Ownership, Mission, How It Works & Makes Money

Core components of KORE's mission include:

• Providing end-to-end IoT connectivity solutions.
• Supporting digital transformation across multiple industries.
• Delivering scalable and secure connectivity platforms.

KORE aims to be the global leader in IoT solutions and connectivity management, targeting a total addressable market of $39.3 billion by 2024.

KORE's strategic growth objectives emphasize a year-over-year growth in IoT connectivity solutions, specifically focusing on:

• Healthcare IoT integration
• Industrial automation connectivity
• Smart transportation networks

KORE has chosen to focus its social responsibility efforts on:

• Good Health and Well-Being
• Industry, Innovation, and Infrastructure goals

These efforts align with the United Nations' Sustainable Development Goals, aiming to improve healthcare and promote sustainable industrialization.

As of Q3 2024, KORE reported the following:

• KORE is on track to meet 2024 guidance.

For the year 2023, KORE reported annual revenue of $277 million, a 3.0% year-over-year growth.

KORE manages over 23 million IoT connections and operates in over 190 countries.

KORE provides advanced connectivity services, location-based services, device solutions, and managed and professional services used in the development and support of IoT solutions and applications.

KORE’s platform is built to serve clients in three areas:

• Connectivity-as-a-Service (CaaS)
• IoT Managed Services/Solutions
• Analytics (CSA)

KORE generates revenue through two primary segments:

• Internet of Things (IoT) Solutions
• Asset Intelligence

KORE empowers organizations of all sizes to improve operational and business results by simplifying the complexity of IoT.

KORE combines technical expertise with customer-focused, adaptable solutions.

KORE simplifies complex technologies and enables streamlined, scalable IoT solutions.

KORE enables businesses to bring IoT solutions to market faster through strategic partnerships and extensive IoT experience.

KORE helps ensure IoT solutions are running well and delivering maximum value with comprehensive IoT management capabilities.

KORE has a strong market presence through innovation, strategic restructuring, and operational efficiency.

KORE delivers tailored, scalable IoT solutions that deliver real-time location data and analytics for better operational efficiencies, compliance, security, and profitability.

KORE is dedicated to driving innovation for its customers.

KORE is a pioneer, leader, and trusted advisor in delivering mission-critical IoT services and solutions.

KORE is a single source provider, bringing together highly complex technologies and enabling streamlined, scalable IoT solutions.

KORE enables IoT deployment acceleration through strategic partnerships and extensive IoT experience.

KORE maximizes IoT ROI with comprehensive IoT management capabilities, helping to ensure IoT solutions are running well and delivering maximum value.

KORE maintains a strong market presence through innovation, strategic restructuring, and operational efficiency.

KORE delivers tailored, scalable IoT solutions, providing real-time location data and analytics for better operational efficiencies, compliance, security, and profitability.

KORE has a global reach, serving customers in over 180 countries.

KORE manages over 17 million IoT connections.

KORE supports multiple wireless technologies and offers private and public network solutions.

KORE’s mission focuses on providing comprehensive IoT connectivity solutions across multiple sectors.

KORE enables digital transformation through IoT connectivity.

KORE supports enterprise digital infrastructure.

KORE delivers scalable connectivity solutions.

KORE leverages a global network infrastructure and specialized SIM management to offer secure and reliable machine-to-machine communications for millions of devices.

KORE delivers tailored, scalable IoT solutions that deliver real-time location data and analytics for better operational efficiencies, compliance, security, and profitability.

KORE has established itself as a trusted advisor and technology partner.

KORE’s platform is built on a foundation of innovation, allowing customers to take advantage of an integrated ecosystem that simplifies the complexities of IoT connectivity and solutions.

KORE empowers organizations of various sizes to deploy and scale IoT applications efficiently, ensuring secure and reliable machine-to-machine (M2M) communications.

KORE is a global pure-play Internet of Things (IoT) hyperscaler and provider of IoT connectivity, solutions, and analytics.

KORE is a global independent IoT enabler, delivering critical services globally to customers to deploy, manage, and scale their IoT application and use cases.

KORE provides advanced connectivity services, location-based services, device solutions, and managed and professional services used in the development and support of IoT solutions and applications.

KORE has built a platform to serve its clients in three areas: connectivity-as-a-service (CaaS), IoT managed services/solutions, and analytics, which the Company refers to as CSA, or connectivity, solutions, and analytics.

KORE Group Holdings, Inc. (KORE) Vision Statement of

To fully understand KORE Group Holdings, Inc. (KORE), it's essential to explore its guiding principles. These principles shape the company's culture, influence its strategies, and define its relationship with the world. KORE's mission, vision, and core values provide a clear framework for its operations and aspirations. To delve deeper into the investment aspect, check out: Exploring KORE Group Holdings, Inc. (KORE) Investor Profile: Who’s Buying and Why?

KORE’s mission statement is to simplify the complexities of IoT connectivity, so enterprises can achieve measurable business outcomes. They aim to be the on-ramp to IoT, making it easier to connect devices, manage data, and create value. KORE aims to reduce friction and accelerate the adoption of IoT solutions across various industries.

• They offer a suite of services designed to streamline the IoT lifecycle, from initial deployment to ongoing management.
• KORE focuses on providing reliable and secure connectivity solutions that enable businesses to leverage the full potential of IoT.

KORE envisions a world where every device is connected, and the power of IoT transforms businesses and enriches lives. This future-oriented statement reflects KORE's ambition to be at the forefront of the IoT revolution, driving innovation and creating value for its customers and stakeholders. KORE's vision is not just about connecting devices; it's about enabling a smarter, more efficient, and more connected world. KORE generated revenue of $287.2 million for the year ended December 31, 2024, representing a 7.9% increase compared to revenue of $266.2 million for the year ended December 31, 2023.

KORE’s core values are the fundamental beliefs that guide its actions and behaviors. They shape the company's culture and influence how it interacts with customers, partners, and employees. The core values of KORE are:

• Customer Centricity: KORE prioritizes the needs and satisfaction of its customers, striving to exceed their expectations in every interaction.
• Innovation: KORE fosters a culture of continuous improvement and creativity, constantly seeking new and better ways to solve problems and create value.
• Integrity: KORE operates with the highest ethical standards, ensuring transparency, honesty, and accountability in all its dealings.
• Collaboration: KORE believes in the power of teamwork and collaboration, working together to achieve common goals and drive collective success.
• Excellence: KORE is committed to delivering best-in-class solutions and services, striving for excellence in everything it does.

These core values collectively underpin KORE's commitment to delivering exceptional IoT solutions and services, driving customer success, and fostering a positive and productive work environment. As of the fiscal year 2024, KORE reported a gross profit of $117.9 million, representing 41.1% of the total revenue.

KORE Group Holdings, Inc. (KORE) Core Values of

While specific, publicly available details regarding KORE Group Holdings, Inc.'s (KORE) core values are limited, we can analyze the company's actions, mission, and industry presence to infer potential core values. These inferences are based on general business principles and observations of KORE's operational focus. For more in-depth information about KORE, you might find this resource helpful: KORE Group Holdings, Inc. (KORE): History, Ownership, Mission, How It Works & Makes Money

Here are some potential core values of KORE, extrapolated from their business activities and industry standards:

Innovation:

Given KORE's focus on IoT (Internet of Things) solutions, innovation is likely a core value. This involves continuous improvement in technology and services to meet evolving customer needs. Innovation in IoT can translate to:

• Developing new applications for IoT in various industries.
• Improving data analytics capabilities to provide better insights.
• Creating more efficient and secure IoT devices and networks.

Customer Focus:

As a service provider, KORE likely prioritizes customer satisfaction. This means understanding customer needs and providing solutions that address their specific challenges. Examples of customer focus in action might include:

• Offering customized IoT solutions tailored to different industries.
• Providing excellent technical support and customer service.
• Building long-term relationships with clients based on trust and mutual success.

Reliability and Security:

IoT solutions often involve critical applications, so reliability and security are paramount. KORE would likely emphasize providing dependable and secure services to its clients. This could involve:

• Implementing robust security measures to protect data and devices.
• Ensuring network uptime and reliability to avoid disruptions.
• Complying with industry standards and regulations for data privacy and security.

Collaboration:

IoT solutions often require collaboration between different stakeholders, including technology providers, network operators, and end-users. KORE may value collaboration as a way to deliver comprehensive solutions. Evidences of collaboration might be:

• Partnering with other companies to offer integrated IoT solutions.
• Working closely with customers to understand their needs and develop tailored solutions.
• Fostering a culture of teamwork and knowledge sharing within the company.

Data-Driven Decision Making:

Given the nature of IoT, KORE likely values the use of data to inform its decisions and improve its services. This could involve:

• Analyzing data from IoT devices to identify trends and insights.
• Using data to optimize network performance and improve security.
• Providing customers with data analytics tools to help them make better decisions.