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Xplora Technologies AS Q1 23 - Strong increase in recurring revenue and significant improvements to operational efficiencies

Xplora Technologies AS Q1 23 - Strong increase in recurring revenue and significant improvements to operational efficiencies

Oslo, 12 May 2023 – Xplora Technologies AS ("Xplora") today published its Q1 23 results. In Q1 23 Xplora generated group revenues of NOK 100.3m, +36% y/y. Recurring service revenues were NOK 49.4m, up +47% y/y. Gross profit was NOK 61.8m and EBITDA ended at NOK 1.6m.

“Q1 2023 marked a strong start for Xplora, with revenues exceeding 100 million NOK, a positive Q1 EBITDA, and reaching 160k connectivity subscriptions and 9k active premium service subscriptions across all markets. We have also made progress in our efficiency program, deal negotiations, and focused on ARPU enhancement, driving growth despite challenging market conditions. Our performance is a tribute to our dedicated team and supportive stakeholders, as well as strategic decisions including the development of new products, global expansion of our Nordic SIM model, and introduction of a premium layer to our SIM mobile offering” says Sten Kirkbak, CEO of Xplora. “As we move forward into 2023, our focus will be to sell three optimized products, in nine markets where we have SIM connectivity with the objective to achieve as high ARPU as possible through premium services, as well as continuing to grow and innovate”.

Key highlights of Q1 2023:
- Group revenues +36% y/y to NOK 100.3m in a challenging consumer market
- Recurring service revenues +47% y/y to NOK 49.4m
- 160k mobile subscribers, up 29% y/y - 9k active premium service subscriptions
- Gross profit +42% y/y to NOK 61.8m
- Positive EBITDA of NOK 1.6m (in part due to one-off adjustments that in sum reduce COGS by NOK 4.1m)
- Prepared new agreement with major European distributor, significantly reducing working capital requirements and operational costs

Xplora was founded with the mission of giving children a safe onboarding to digital life and encouraging a better balance between screen time and physical activity. Xplora has more than 160k subscription customers. More than 1 million smartwatches for kids have been sold since the company was launched, driving a rapid international expansion with offices in Norway, the UK, Germany, Spain, Sweden, Finland, Denmark, France, and the US.
Management will present the results on Friday, 12 May 2023 at 10:00 am CET live at PlusArena in Strandgata 19, 0152 Oslo and via webcast. The presentation will be held in English, followed by a Q&A session.

Watch the webcast here:

Q1 2023 Xplora Presentation.pdf

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,
Jonas Ringstad, Interim CFO +47 406 39 886,

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.
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