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ATLANTA - KORE Group Holdings, Inc. (NYSE: KORE), a company specializing in Internet of Things (IoT) solutions, has received a notice from the New York Stock Exchange (NYSE) on Monday, indicating non-compliance due to a delay in filing its annual report. The company, currently trading at $2.65 with a market capitalization of $42.54 million, did not meet the deadline for submitting its Form 10-K for the fiscal year that ended on December 31, 2024. According to InvestingPro data, KORE has been facing challenges with rapid cash burn and maintains a significant debt burden.
The NYSE’s notice does not immediately affect the listing of KORE’s common stock. However, the exchange has given the company a six-month period, until October 15, 2025, to file the overdue annual report and regain compliance. The NYSE may also extend this period by another six months, depending on the situation, but reserves the right to initiate delisting procedures if it deems necessary. The company maintains a current ratio of 1.3, indicating its ability to meet short-term obligations, though InvestingPro analysis reveals several additional financial health indicators available to subscribers.
KORE previously disclosed in a late filing notification with the Securities and Exchange Commission (SEC) on April 1, 2025, that it required additional time to complete the financial reporting and closing procedures. The company now expects to file the Form 10-K by April 30, 2025.
The press release from KORE includes forward-looking statements regarding the anticipated filing date of the Form 10-K. These statements are subject to various factors and uncertainties that could cause actual results to differ materially. The company warns that additional information may emerge before the filing, which could impact the results and timing.
KORE describes itself as a pioneer in the IoT sector, providing critical solutions and services that simplify the complexity of IoT for organizations of various sizes. With annual revenue of $285.23 million, the company’s expertise, global reach, and agile deployment of solutions are aimed at enhancing business outcomes for its customers. For a comprehensive analysis of KORE’s financial health and growth prospects, investors can access the detailed Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert insights and actionable intelligence.
This news article is based on a press release statement from KORE Group Holdings, Inc.
In other recent news, KORE Group Holdings, Inc. has announced the appointment of Jared Deith as its new Executive Vice President and Chief Revenue Officer. This leadership change follows the departure of former CRO Jason Dietrich, effective January 31, 2025, as part of the company’s strategic realignment. Deith, who previously served as Executive Vice President of Connected Health, will now oversee KORE’s global sales, partnerships, marketing, and revenue operations. His appointment is intended to strengthen KORE’s position in the Internet of Things (IoT) market. CEO Ron Totton and Chairman Tim Donahue have expressed confidence in Deith’s ability to drive growth and understand customer needs. The company aims to simplify IoT complexities and improve business outcomes for customers. This executive transition highlights KORE’s ongoing efforts to enhance its market leadership and innovation in the IoT sector. The information regarding these changes was based on press releases from KORE and filings with the SEC.
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