KORE Group Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Temporary Equity and Stockholders' Equity (Unaudited)

Consolidated Statements of Temporary Equity and Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Series A Preferred Stock	Series A-1 Preferred Stock	Series B Preferred Stock	Series C Convertible Preferred Stock	Previously Reported	Previously Reported Series A Preferred Stock	Previously Reported Series A-1 Preferred Stock	Previously Reported Series B Preferred Stock	Previously Reported Series C Convertible Preferred Stock	Revision of Prior Period, Adjustment Series A Preferred Stock	Revision of Prior Period, Adjustment Series A-1 Preferred Stock	Revision of Prior Period, Adjustment Series B Preferred Stock	Revision of Prior Period, Adjustment Series C Convertible Preferred Stock	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjusted Balance	Common Stock	Common Stock Previously Reported	Common Stock Revision of Prior Period, Adjustment	Common Stock Cumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in Capital Previously Reported	Additional Paid-in Capital Revision of Prior Period, Adjustment	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Previously Reported	Accumulated Other Comprehensive Loss Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Deficit	Accumulated Deficit Previously Reported	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning balance of common stock (in shares) at Dec. 31, 2020																	30,282,000	218,000	30,064,000
Beginning balance of stockholders' equity at Dec. 31, 2020	$ 20,216					$ 20,216											$ 3	$ 2	$ 1		$ 135,616	$ 135,617	$ (1)			$ (1,677)	$ (1,677)		$ (113,726)	$ (113,726)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accrued dividends payable	(7,393)																				(7,393)
Foreign currency translation adjustment	(900)																									(900)
Stock-based compensation	315																				315
Net loss	(1,081)																												(1,081)
Ending balance of common stock (in shares) at Mar. 31, 2021																	30,282,000
Ending balance of stockholders' equity at Mar. 31, 2021	11,157																$ 3				128,538					(2,577)			(114,807)
Beginning balance of temporary equity (in shares) at Dec. 31, 2020		7,756,000	7,862,000	9,091,000	2,566,000		43,000	60,000	57,000	17,000	7,713,000	7,802,000	9,034,000	2,549,000
Beginning balance of temporary equity at Dec. 31, 2020	263,895	$ 77,562	$ 78,621	$ 90,910	$ 16,802	263,895	$ 77,562	$ 78,621	$ 90,910	$ 16,802
Increase (Decrease) in Temporary Equity [Roll Forward]
Accrued dividends payable (in shares)		249,000	267,000	224,000
Accrued dividends payable	7,393	$ 2,486	$ 2,666	$ 2,241
Ending balance of temporary equity (in shares) at Mar. 31, 2021		8,005,000	8,129,000	9,315,000	2,566,000
Ending balance of temporary equity at Mar. 31, 2021	271,288	$ 80,048	$ 81,287	$ 93,151	$ 16,802
Beginning balance of common stock (in shares) at Dec. 31, 2020																	30,282,000	218,000	30,064,000
Beginning balance of stockholders' equity at Dec. 31, 2020	20,216					20,216											$ 3	$ 2	$ 1		135,616	135,617	(1)			(1,677)	(1,677)		(113,726)	(113,726)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(1,479)
Net loss	(12,474)
Ending balance of common stock (in shares) at Sep. 30, 2021																		71,810,000
Ending balance of stockholders' equity at Sep. 30, 2021						283,967												$ 7				413,316					(3,156)			(126,200)
Beginning balance of temporary equity (in shares) at Dec. 31, 2020		7,756,000	7,862,000	9,091,000	2,566,000		43,000	60,000	57,000	17,000	7,713,000	7,802,000	9,034,000	2,549,000
Beginning balance of temporary equity at Dec. 31, 2020	263,895	$ 77,562	$ 78,621	$ 90,910	$ 16,802	263,895	$ 77,562	$ 78,621	$ 90,910	$ 16,802
Ending balance of temporary equity (in shares) at Sep. 30, 2021		0	0	0	0
Ending balance of temporary equity at Sep. 30, 2021	0	$ 0	$ 0	$ 0	$ 0
Beginning balance of common stock (in shares) at Dec. 31, 2020																	30,282,000	218,000	30,064,000
Beginning balance of stockholders' equity at Dec. 31, 2020	$ 20,216					20,216											$ 3	$ 2	$ 1		135,616	135,617	$ (1)			(1,677)	(1,677)		(113,726)	(113,726)
Ending balance of common stock (in shares) at Dec. 31, 2021	72,027,743																72,028,000			72,028,000
Ending balance of stockholders' equity at Dec. 31, 2021	$ 272,143														$ (11,314)	$ 260,829	$ 7			$ 7	413,646			$ (11,613)	$ 402,033	(3,331)		$ (3,331)	(138,179)		$ 299	$ (137,880)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06
Beginning balance of temporary equity (in shares) at Dec. 31, 2020		7,756,000	7,862,000	9,091,000	2,566,000		43,000	60,000	57,000	17,000	7,713,000	7,802,000	9,034,000	2,549,000
Beginning balance of temporary equity at Dec. 31, 2020	$ 263,895	$ 77,562	$ 78,621	$ 90,910	$ 16,802	263,895	$ 77,562	$ 78,621	$ 90,910	$ 16,802
Beginning balance of common stock (in shares) at Mar. 31, 2021																	30,282,000
Beginning balance of stockholders' equity at Mar. 31, 2021	11,157																$ 3				128,538					(2,577)			(114,807)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accrued dividends payable	(7,532)																				(7,532)
Foreign currency translation adjustment	743																									743
Stock-based compensation	315																				315
Net loss	(6,885)																												(6,885)
Ending balance of common stock (in shares) at Jun. 30, 2021																	30,282,000
Ending balance of stockholders' equity at Jun. 30, 2021	(2,202)																$ 3				121,321					(1,834)			(121,692)
Beginning balance of temporary equity (in shares) at Mar. 31, 2021		8,005,000	8,129,000	9,315,000	2,566,000
Beginning balance of temporary equity at Mar. 31, 2021	271,288	$ 80,048	$ 81,287	$ 93,151	$ 16,802
Increase (Decrease) in Temporary Equity [Roll Forward]
Derecognition of stock (in shares)					(46,000)
Derecognition of stock	(300)				$ (300)
Accrued dividends payable (in shares)		251,000	270,000	232,000
Accrued dividends payable	7,532	$ 2,514	$ 2,695	$ 2,323
Ending balance of temporary equity (in shares) at Jun. 30, 2021		8,256,000	8,399,000	9,547,000	2,520,000
Ending balance of temporary equity at Jun. 30, 2021	278,520	$ 82,562	$ 83,982	$ 95,474	$ 16,502
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accrued dividends payable	(7,897)																				(7,897)
Foreign currency translation adjustment	(1,322)																									(1,322)
Stock-based compensation	(3,519)																				(3,519)
Distributions to and conversions of preferred stock (in shares)																	7,120,000
Distributions to and conversions of preferred stock	56,503																$ 1				56,502
CTAC shares recapitalized, net of equity issuance costs (in shares)																	10,356,000
CTAC shares recapitalized, net of equity issuance costs	6,457																$ 1				6,456
Conversion of stock (in shares)																	1,366,000
Conversion of KORE warrants	10,663																				10,663
Private offering and merger financing, net of equity issuance costs (in shares)																	22,686,000
Private offering and merger financing, net of equity issuance costs	217,282																$ 2				217,280
Equity portion of convertible debt, net of issuance costs	12,510																				12,510
Net loss	(4,508)																												(4,508)
Ending balance of common stock (in shares) at Sep. 30, 2021																		71,810,000
Ending balance of stockholders' equity at Sep. 30, 2021						$ 283,967												$ 7				$ 413,316					$ (3,156)			$ (126,200)
Increase (Decrease) in Temporary Equity [Roll Forward]
Accrued dividends payable (in shares)		266,000	288,000	236,000
Accrued dividends payable	7,897	$ 2,656	$ 2,880	$ 2,361
Distributions to and conversions of preferred stock (in shares)		(8,522,000)	(8,687,000)	(9,783,000)	(2,520,000)
Distributions to and conversions of preferred stock	(286,417)	$ (85,218)	$ (86,862)	$ (97,835)	$ (16,502)
Ending balance of temporary equity (in shares) at Sep. 30, 2021		0	0	0	0
Ending balance of temporary equity at Sep. 30, 2021	$ 0	$ 0	$ 0	$ 0	$ 0
Beginning balance of common stock (in shares) at Dec. 31, 2021	72,027,743																72,028,000			72,028,000
Beginning balance of stockholders' equity at Dec. 31, 2021	$ 272,143														(11,314)	260,829	$ 7			$ 7	413,646			(11,613)	402,033	(3,331)		(3,331)	(138,179)		299	(137,880)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(184)																									(184)
Stock-based compensation	2,050																				2,050
Common stock issued pursuant to acquisition (in shares)																	4,212,000
Common stock issued pursuant to acquisition	23,295																$ 1				23,294
Net loss	(10,907)																												(10,907)
Ending balance of common stock (in shares) at Mar. 31, 2022																	76,240,000
Ending balance of stockholders' equity at Mar. 31, 2022	$ 275,083																$ 8				427,377					(3,515)			(148,787)
Beginning balance of common stock (in shares) at Dec. 31, 2021	72,027,743																72,028,000			72,028,000
Beginning balance of stockholders' equity at Dec. 31, 2021	$ 272,143														$ (11,314)	$ 260,829	$ 7			$ 7	413,646			$ (11,613)	$ 402,033	(3,331)		$ (3,331)	(138,179)		$ 299	$ (137,880)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(5,160)
Net loss	$ (35,073)
Ending balance of common stock (in shares) at Sep. 30, 2022	76,289,741																76,290,000
Ending balance of stockholders' equity at Sep. 30, 2022	$ 251,461																$ 8				432,897					(8,491)			(172,953)
Beginning balance of common stock (in shares) at Mar. 31, 2022																	76,240,000
Beginning balance of stockholders' equity at Mar. 31, 2022	275,083																$ 8				427,377					(3,515)			(148,787)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(2,559)																									(2,559)
Stock-based compensation	2,501																				2,501
Net loss	(11,141)																												(11,141)
Ending balance of common stock (in shares) at Jun. 30, 2022																	76,240,000
Ending balance of stockholders' equity at Jun. 30, 2022	263,884																$ 8				429,878					(6,074)			(159,928)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(2,417)																									(2,417)
Stock-based compensation	3,019																				3,019
Vesting of restricted stock units (in shares)																	50,000
Net loss	$ (13,025)																												(13,025)
Ending balance of common stock (in shares) at Sep. 30, 2022	76,289,741																76,290,000
Ending balance of stockholders' equity at Sep. 30, 2022	$ 251,461																$ 8				$ 432,897					$ (8,491)			$ (172,953)