KORE Group Holdings reported a wider first-quarter net loss driven by higher transaction costs and warrant liability changes.
KORE Group Holdings recorded a Q1 net loss of $28.5 million, widening by $13.5 million or 91% year-over-year. The company attributed the loss to transaction-related expenses and changes in the fair value of warrant liability.
Revenue fell 8.8% to $65.82 million compared with the same period last year. The decline reflects ongoing challenges in the company’s core operations amid broader market conditions.
No immediate market reaction was disclosed in the release.