KORE Group Holdings, Inc.

Annual Trend FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Depreciation and amortization $48.1m $52.5m $50.4m $54.5m $58.4m $56.2m $54.9m
Amortization of deferred financing costs $2.1m $2.3m $2.1m $2.4m $2.2m $2.6m $2.6m
Amortization of operating lease right-of-use assets $0 $2.2m $2.3m $1.3m $1.3m
Deferred income taxes ($11.4m) ($6.2m) ($9.9m) ($16.2m) ($11.4m) ($10.1m) ($2.8m)
Goodwill impairment $0 $58.1m $78.3m $65.9m $0
Operating lease liabilities ($1.5m) ($1.8m) ($1.5m) ($1.3m)
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities $3.4m $1.6m $485k $1.2m
Net loss ($23.4m) ($35.2m) ($24.5m) ($106.2m) ($167.0m) ($146.1m) ($63.0m)
Stock-based compensation expense $1.7m $1.2m $4.6m $10.3m $11.3m $8.5m $2.1m
Change in fair value of warrant liabilities to affiliates ($5.3m) ($254k) $6.4m ($4.0m) $2.4m
Loss on lease termination $0 $322k
Loss on sale of assets $0 $1.1m
Provision for credit losses $905k $640k $322k $415k $1.0m $609k
Provision for inventory write-downs $1.0m $2.0m
Unrealized (gain) loss on foreign currency translation ($182k) $5.0m ($5.3m)
Accounts receivable $860k ($6.1m) ($11.9m) $9.0m ($7.7m) $6.7m ($2.8m)
Inventories ($566k) ($3.0m) ($9.9m) $6.5m $2.0m $1.5m $1.2m
Prepaid expenses and other assets $169k ($2.0m) ($1.7m) ($2.0m) ($87k) $4.0m $1.2m
Accounts payable and accrued liabilities ($2.5m) $13.1m ($8.4m) ($2.1m) $13.0m ($49k) $1.5m
Accrued interest due to affiliate $0 $2.5m $21.3m $24.1m
Deferred revenue ($44k) $1.6m ($805k) $980k $1.2m ($418k) $432k
Other assets and liabilities $0 $1.5m ($1.9m) ($2.0m)
Purchases of property and equipment ($2.4m) ($1.8m) ($4.2m) ($3.3m) ($4.4m) ($2.8m) ($2.7m)
Additions to intangible assets ($10.5m) ($10.1m) ($9.2m) ($13.2m) ($15.8m) ($10.6m) ($7.2m)
Proceeds from sale of assets $0 $250k
Purchase of treasury stock ($80k) ($200k) $0 $0 ($2.8m) ($431k) $0
Principal payments under finance lease obligations ($150k) ($123k) ($101k) ($24k)
Payment of employee tax withholdings through cancelled shares of stock ($2.3m) $0 ($405k) ($839k) ($194k)
Right-of-use asset derecognized in connection with early lease termination $0 $6.8m
Purchases of property and equipment in accounts payable and accrued liabilities $783k $62k
Cash $27.1m $19.4m $26.7m
Net cash provided by operating activities $14.3m $26.5m ($14.8m) $16.4m ($6.4m) $9.9m $18.5m
Net cash used in investing activities ($50.4m) ($11.6m) ($13.4m) ($62.5m) ($20.2m) ($13.5m) ($9.6m)
Repayment of debt ($4.2m) ($304.8m) ($2.4m) ($1.9m)
Net cash used in financing activities $37.0m ($12.7m) $104.1m ($4.7m) $18.9m ($3.8m) ($2.1m)
Effect of exchange rate changes on cash ($226k) ($451k) $173k ($405k) $468k
Net increase (decrease) in cash and restricted cash $719k $2.0m $75.7m ($51.3m) ($7.6m) ($7.7m) $7.3m
Cash and restricted cash, beginning of year $8.7m $10.7m $86.3m $35.0m $27.4m $19.7m $27.0m
Restricted cash $300k $293k $268k
Cash paid for interest $24.0m $21.5m $19.9m $29.2m $35.3m $28.9m $26.9m
Cash paid for income taxes (net of refunds) $417k $379k $957k $2.1m $5.7m $2.1m $2.9m