KORE Group's Q4 net loss narrows; co to be acquired
Overview
Global IoT hyperscaler's Q4 revenue was flat yr/yr, net loss narrowed
Q4 adjusted EBITDA rose 26% yr/yr
Company announced on Feb. 27 pending acquisition by Searchlight Capital Partners and Abry Partners
Outlook
Company did not provide specific financial guidance due to pending acquisition transaction
Result Drivers
TOTAL CONNECTIONS GROWTH - Co said 6% yr/yr increase in Total Connections underscored durable demand for its IoT platform
DISCIPLINED EXECUTION - CEO Ron Totton attributed Q4 performance to disciplined execution
Company press release: ID:nPnwHY2pa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | $73.9 mln | $71.95 mln (2 Analysts) |
Q4 Net Income |
| -$18.5 mln |
|
Q4 Adjusted EBITDA | Beat | $17.7 mln | $15.70 mln (2 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the wireless telecommunications services peer group is "buy"
Wall Street's median 12-month price target for KORE Group Holdings Inc is $5.00, about 44.4% below its March 30 closing price of $9.00
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