Oslo, 23 September 2023 – Xplora Technologies AS ("Xplora") is pleased to announce a new revenue sharing agreement with Troomi Wireless Inc. ("Troomi"), a specialized mobile service provider within the children's telecommunications space.
The partnership marks Xplora’s third global revenue sharing agreement, and the company’s first revenue sharing agreement in the US. As part of the agreement, Troomi will sell Xplora’s smartwatches through their distribution channels, complementing the offerings with Troomi’s own connectivity. Both parties anticipate shared monthly recurring service revenue. In addition, Xplora will receive its traditional hardware margin.
Adding weight to this partnership, Troomi has committed to purchase 10,000 units per year signaling their robust belief in the synergy and success of the collaboration.
As previously announced, Xplora aims to expand its new, innovative recurring revenue model to markets outside of the Nordics. Xplora's smartwatches are currently being sold by telcos such as Vodafone, Telefonica, Deutsche Telekom, OneCall (Telia) and Elisa.
The principle and objective with such a revenue sharing model toward our telco partners were presented during our Q2 23 presentation on August 17.
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.
About Troomi Wireless Inc.:
Troomi specializes in creating smartphone solutions aimed at the youth market. With an emphasis on safety and education, they provide children with a secure gateway to the world of smartphones. Their technology encourages responsible and positive engagement between kids and digital devices. The company is headquartered in the US.
