KORE Group Holdings Inc 2024年度报告

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549_____________________________ FORM 10-K (Mark One)xANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2024 ORoTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934Commission file number 001-40856_____________________________ KORE Group Holdings, Inc. (Exact name of registrant as specified in its charter)_____________________________ Title of each classTrading Symbol(s)Name of each exchange on which registered New York Stock Exchange Securities registered pursuant to section 12(g) of the Act:Warrants to purchase common stock(1)(Title of each class) (1)The Company’s warrants trade on the OTC Pink Marketplace under the symbol “KORGW.”_____________________________ Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesoNoxIndicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yeso NoxIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 duringthe preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements forthe past 90 days. YesxNooIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YesxNooIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.oIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its auditreport.o If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filingreflect the correction of an error to previously issued financial statements.xIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by anyof the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).oIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yeso Nox The aggregate market value of stock held by non-affiliates as of June 28, 2024 (the last business day of the registrant’s most recently completed second quarter)was approximately $12.9 million based upon $2.12 per share, the closing price of the registrant’s common stock on that date on the New York Stock Exchange.Determination of stock ownership by non-affiliates was made solely for the purpose of responding to this requirement and the registrant is not bound by thisdetermination for any other purpose. As of April 28, 2025, there were 17,160,061 shares of the registrant’s common stock, par value $0.0001 per share,outstanding. DOCUMENTS INCORPORATED BY REFERENCE Part III incorporates information by reference to the registrant’s definitive proxy statement for the 2025 Annual Meeting of Stockholders, to be filed with theSecurities and Exchange Commission no later than 120 days after December 31, 2024. TABLE OF CONTENTS PageSpecial Note Regarding Forward-Looking Statements1Glossary3PART I.4ITEM 1.BUSINESS4ITEM 1A.RISK FACTORS7ITEM 1B.UNRESOLVED STAFF COMMENTS22ITEM 1C.CYBERSECURITY23ITEM 2.PROPERTIES23ITEM 3.LEGAL PROCEEDINGS23ITEM 4.MINE SAFETY DISCLOSURES24PART II.25ITEM 5.MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS ANDISSUER PURCHASES OF EQUITY SECURITIES25ITEM 6.[RESERVED]25ITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS26ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK40ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA41ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIALDISCLOSURE82ITEM 9A.CONTROLS AND PROCEDURES82ITEM 9B.OTHER INFORM