Kore Group Posts 26% Rise in Q4 Adjusted EBITDA with 6% Connection Growth
Kore Group reported Q4 revenue of $73.9 million, flat year-over-year, while total IoT connections rose 6% to 20.9 million and adjusted EBITDA increased 26% to $17.7 million. For full year 2025, net loss narrowed 57% to $63.0 million and free cash flow grew $12.4 million, preceding a $726 million takeover.
1. Fourth Quarter 2025 Performance
Kore Group delivered Q4 revenue of $73.9 million, roughly unchanged versus last year, as IoT Connectivity revenue comprised 78% of total sales. Total Connections reached 20.9 million, up 6%, while net loss improved by $7.0 million to $18.5 million, adjusted EBITDA rose 26% to $17.7 million, and free cash flow increased $6.3 million to $7.8 million.
2. Full Year 2025 Financial Highlights
Full-year revenue was $285.9 million, nearly level with $286.1 million a year prior. Net loss narrowed by $83.1 million to $63.0 million, adjusted EBITDA climbed 19% to $63.3 million, cash from operations rose $9.4 million to $18.5 million, and free cash flow grew by $12.4 million to $8.9 million.
3. Pending Acquisition Transaction
On February 27, 2026, Kore entered an all-cash merger agreement valuing the company at approximately $726 million, including debt. The transaction, expected to close in Q2 or Q3 2026 subject to regulatory and stockholder approvals, will take Kore private under affiliates of Searchlight Capital Partners and Abry Partners.