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Xplora Technologies AS: Trading update Q1 22

Xplora Technologies AS: Trading update Q1 22

Oslo, 13 April 2022: Xplora Technologies (‘Xplora’) is today announcing a trading update for Q1 22. Group revenues for Q1 22 were NOK 74m, +37% y/y. Recurring service revenues, ARR, amounted to NOK 33.6m, up 66% y/y pro-forma, representing 45% of group revenues. Xplora exited Q1 22 with 124.3k mobile subscribers, a y/y growth of 55% from 80k subscribers at the end of Q1 21. Xplora exited the quarter with cash balances of NOK 132m, which includes the earnout payment for the acquisition of XMH of NOK 20m during the quarter.

Q1 22 has been another eventful quarter for Xplora. Xplora attended and presented at both the Consumer Electronics Show (CES) in Las Vegas, NV and at Mobile World Congress (MWC) in Barcelona during Q1 22. Significant new wins in the quarter include EE as a new telco distribution partner and IQ Mobile as a new connectivity partner, both in the UK market. New product releases in 2022 and platform development have driven the development team. Operational focus in Q1 22 has been on establishing new ERP systems and continuing to implement and streamline the Agile organization.

As stated in our Q4 21 outlook statement we anticipate accelerating sales growth through the year with the lowest year-on-year growth in the first quarter. Xplora continues to build scale and distribution capacity in new and existing markets, which together with a broader connectivity and service offering are expected to support our growth ambitions for the year.

As published in a separate release on Monday April 11, Xplora has entered into a reseller agreement and has become an Approved Vendor with Walmart in the US market. Xplora is managing its US sales and logistics operations out of its New York City offices, and our first hires are in place. Our sales team continues to pursue new distribution partners in the North American market.

Xplora will release its full Q1 22 report on 25 May 2022.

For further information please contact:
Sten Kirkbak, CEO +47 9220 3710
Mikael Clement, CFO +47 9900 8000
Karen Guillot Ruiz, Business Analyst +47 9488 5859

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 to the world. The company is headquartered in Norway with operations in leading European markets. The information contained in this statement has not been audited and may be subject to change.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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