Xplora Technologies AS Q3 24 Record high revenue and profitability with a strong cash position

07 Nov 2024 07:00 CET

Oslo, 7 November 2024 -- Xplora Technologies AS ("Xplora") today published its
Q3 24 results. In Q3 24 group revenue grew by 35% y/y, reaching a record high
single-quarter revenue of NOK 257.1m. Gross profit was NOK 124.9m, up 45% y/y.
Service revenue ended at NOK 75.3m, resulting in an ARR of NOK 301.2m. Device
revenue reached NOK 181.8m, +36% y/y. EBITDA ended at NOK 30.2m and EBIT ended
at NOK 15.2m in Q3 24. Xplora exited Q3 24 with a cash balance of NOK 176.7m.

This quarter, Xplora is pleased to report its highest quarterly revenue and
EBITDA ever recorded. The company increased revenue by 35% y/y, while EBITDA
grew by an impressive 281% y/y. After an all-time high quarterly net growth of
45k subscriptions, service revenues continued growing, reaching a level where
ARR now fully covers the last twelve months fixed operating expenses.
Increasing high margin service revenues resulted in a 45% y/y growth in gross
profit. "This underscores our ability to increase sales while also enhancing
profitability without compromising growth", says Kirkbak, CEO at Xplora.

With a positive net profit, Xplora ended the quarter with one of the strongest
cash positions in its history at NOK 176.7m, a NOK 50.4m increase since the
previous quarter end. Leveraging this, Xplora made a public offer to acquire
Doro AB during Q3 24. "This quarter stands out as our greatest to date, with
record highs in both revenue and profitability. Our cash position is strong,
giving us the flexibility to explore strategic opportunities", Kirkbak adds.

Key highlights of Q3 2024:

* Group revenues +35% y/y to NOK 257.1m
* Service revenues +36% y/y to NOK 75.3m, translating to an ARR of NOK 301.2m
* 326k subscriptions, up 44% y/y, of which 243k are connectivity
subscriptions, 19k are revenue share subscriptions, 4k are service fee
subscriptions and 60k are
premium service subscriptions
* Gross profit +45% y/y to NOK 124.9m
* Positive EBITDA of NOK 30.2m
* CAPEX of NOK 6.8m
* NOK 176.7m in cash and cash equivalents, up NOK 50.4m since Q2 24

Management will present the results on Thursday, 7 November 2024 at 08:00 am
CET live at SpareBank1 Markets in Olav Vs gate, 0161 Oslo and via webcast. The
presentation will be held in English, followed by a Q&A session. Link to
webcast: www.xplora.com/investor.

The information contained in this statement has not been audited and may be
subject to change. This information is subject to disclosure requirements in
Regulation EU 596/2014 (MAR) article 19 no. 3 and the Norwegian Securities
Trading Act section 5-12.

For further information please contact:
Sten Kirkbak, CEO +47 922 03 710, sten.kirkbak@xplora.com
Knut Stålen, CFO +47 920 43 458, knut.stalen@xplora.com

About Xplora Technologies AS:
Xplora is a platform and services company and an industry leader in the market
for children's smartwatches. Xplora was founded to give children a safe
onboarding to the digital life and a better balance between screen time and
physical activity. Xplora's vision is to enable children around the world to
experience how their everyday activities can create value and make a positive
change in the world. The company is headquartered in Norway with operations in
leading European markets. Xplora is listed on Euronext Growth under the ticker
symbol XPLRA.

More information:
Access the news on Oslo Bors NewsWeb site

631488_Xplora Q3 2024 Report.pdf
631488_Xplora Q3 24 Presentation.pdf