The company's financial health has deteriorated significantly, with shareholders' equity declining from a positive $37.0M in 2023Q4 to a deficit of $191.5M by 2026Q1.
| Total Current Assets | 83.09M | 85.92M | 79.96M | 101.99M | 103.22M | 161.36M | 62.25M | 49.14M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - |
| Cash Only | 28.92M | 26.73M | 19.41M | 27.14M | 34.65M | 85.98M | 10.32M | 8.29M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | 3.71M | 3.17M | 6.65M | 8.21M | 10.05M | 15.47M | 5.84M | 2.71M |
| Days Inventory Outstanding | 13.51 | 9.04 | 19.25 | 23.32 | 28.41 | 46.53 | 21.77 | 15.54 |
| Other Current Assets | 1.83M | 9.02M | 1.18M | 2.63M | 523K | 1.03M | 0 | 0 |
| Total Non-Current Assets | 313.02M | 324.62M | 375.87M | 485M | 585.46M | 598.98M | 637.77M | 675.71M |
| Property, Plant & Equipment | 7.42M | 8.26M | 17.46M | 20.32M | 21.92M | 12.24M | 13.71M | 15.31M |
| Fixed Asset Turnover | 25.01x | 34.63x | 16.38x | 13.61x | 12.25x | 20.30x | 15.59x | 11.05x |
| Goodwill | 228.84M | 228.84M | 228.84M | 294.97M | 369.71M | 383.42M | 382.75M | 382.25M |
| Intangible Assets | 72.26M | 83M | 125.06M | 167.59M | 192.5M | 202.55M | 240.2M | 276.9M |
| Long-Term Investments | 844K | 0 | 293K | 0 | 0 | 367K | 0 | 0 |
| Other Non-Current Assets | - | - | - | - | - | - | - | - |
| Total Assets | 396.11M | 410.55M | 455.83M | 586.98M | 688.68M | 760.34M | 700.02M | 724.85M |
| Asset Turnover | 0.67x | 0.70x | 0.63x | 0.47x | 0.39x | 0.33x | 0.31x | 0.23x |
| Asset Growth % | -42.84% | -9.94% | -22.34% | -14.77% | -9.42% | 8.62% | -3.43% | - |
| Total Current Liabilities | 79.28M | 72M | 66.09M | 71.97M | 48.84M | 49.04M | 52.22M | 46.63M |
| Accounts Payable | 13.32M | 12.35M | 14.83M | 23.98M | 17.84M | 16M | 22.98M | 15.96M |
| Days Payables Outstanding | 42.14 | 35.22 | 42.9 | 68.09 | 50.4 | 48.13 | 85.64 | 91.51 |
| Short-Term Debt | - | - | - | - | - | - | - | - |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - |
| Other Current Liabilities | 43.51M | 42.79M | 7.62M | 11.66M | 33K | 9.06M | 0 | 6.36M |
| Current Ratio | 1.05x | 1.19x | 1.21x | 1.42x | 2.11x | 3.29x | 1.19x | 1.05x |
| Quick Ratio | 1.00x | 1.15x | 1.11x | 1.30x | 1.91x | 2.97x | 1.08x | 1.00x |
| Cash Conversion Cycle | -28.64 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 508.34M | 502.32M | 489.34M | 478.04M | 459.17M | 443.78M | 627.58M | 361.98M |
| Long-Term Debt | 439.3M | 1.28M | 295.66M | 296.11M | 413.91M | 399.12M | 298.4M | 301.21M |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - |
| Total Liabilities | 587.62M | 574.33M | 555.43M | 550.01M | 508.01M | 492.81M | 679.8M | 408.61M |
| Total Debt | 442.92M | 3.71M | 307.22M | 309.41M | 430.46M | 402.63M | 302.93M | 313.24M |
| Net Debt | 413.99M | -23.02M | 287.81M | 282.27M | 395.81M | 316.66M | 292.61M | 304.94M |
| Debt / Equity | -2.31x | - | - | 8.37x | 2.38x | 1.51x | 14.98x | 0.99x |
| Debt / EBITDA | 9.91x | 0.08x | - | 4.39x | 3.03x | 11.58x | 7.05x | 8.63x |
| Net Debt / EBITDA | 9.27x | -0.53x | - | 4.00x | 2.79x | 9.11x | 6.81x | 8.40x |
| Interest Coverage | - | -0.21x | -1.89x | -2.96x | -2.66x | -0.66x | -0.41x | -0.32x |
| Total Equity | -191.5M | -163.78M | -99.6M | 36.97M | 180.67M | 267.52M | 20.22M | 316.24M |
| Equity Growth % | -353.31% | -64.44% | -369.39% | -79.54% | -32.46% | 1223.32% | -93.61% | - |
| Book Value per Share | -9.71 | -0.01 | -5.17 | 2.21 | 11.93 | 31.90 | 3.19 | 5.07 |
| Total Shareholders' Equity | -191.5M | -163.78M | -99.6M | 36.97M | 180.67M | 267.52M | 20.22M | 316.24M |
| Common Stock | 8K | 8K | 8K | 8K | 8K | 7K | 3K | 2K |
| Retained Earnings | -652.79M | -624.33M | -561.36M | -415.28M | -248.24M | -142.34M | -113.73M | -78.53M |
| Treasury Stock | -3.19M | -3.19M | -3.19M | -2.75M | 0 | 0 | 0 | 0 |
| Accumulated OCI | -6.04M | -6.88M | -3.78M | -6.07M | -6.39M | -3.46M | -1.68M | -3.79M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Negative equity and liquidity
As reported in recent financial statements, KORE's balance sheet trajectory shows a consistent deterioration, with shareholders' equity declining from a positive $37.0M in 2023Q4 to a deficit of $191.5M by 2026Q1, signaling significant long-term pressure on the company's capital base and overall financial health.
The persistent expansion of the retained earnings deficit, which reached $652.8M in 2026Q1, suggests that the company's operational model has failed to generate sufficient returns to offset its accumulated losses. This trend warrants close monitoring as it indicates a structural inability to build book value, potentially limiting future financing flexibility.
Based on the latest quarterly filings, KORE maintains a current ratio of 1.05, which, when paired with a cash balance of only $28.9M, suggests a limited buffer against operational shocks or the need for significant near-term capital expenditures to support its IoT connectivity platform.
The narrow margin between current assets and liabilities implies that the company has little room for error in managing its working capital. Investors should consider whether this liquidity level is sufficient to sustain operations without requiring further dilutive capital raises or additional debt financing.
According to the provided balance sheet data, goodwill remains a substantial component of total assets at $228.8M, representing over 57% of the $396.1M total asset base as of 2026Q1, which highlights a heavy reliance on past acquisitions to justify the company's current valuation.
The high concentration of goodwill relative to total assets suggests that the company's book value is sensitive to potential impairment charges if the acquired businesses fail to meet performance expectations. This composition underscores the risk that the asset base may not be as liquid or recoverable as the headline figures might suggest.
As evidenced by the shift to a negative equity position of $191.5M in 2026Q1, the company's capital structure is currently distorted, rendering traditional leverage metrics like debt-to-equity ratios non-meaningful and signaling a precarious financial position that may complicate future debt refinancing efforts.
The transition from positive equity to a deep deficit indicates that the company has effectively exhausted its internal capital base. This reality suggests that the firm's reliance on debt, which remains elevated at $442.9M, is increasingly disconnected from the underlying value of its tangible assets, posing a significant risk to stakeholders.
Quick answers to the most common questions about buying KORE stock.
As of 2025, KORE Group Holdings, Inc. (KORE) had total assets of $410.5M including $85.9M in current assets.
KORE Group Holdings, Inc. (KORE) carries total debt of $3.7M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
KORE Group Holdings, Inc. (KORE) has total shareholders' equity (book value) of $-163.8M ($-0.01 book value per share). Book value represents the net worth of the company belonging to common stock holders.
KORE Group Holdings, Inc. (KORE) reported a current ratio of 1.19x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.