Oslo, 25 May 2022
Xplora Technologies (Xplora) today published its Q1 22 results. In Q1 22 Xplora generated group revenues of NOK 74.0m, +37% y/y. Recurring service revenues represented 45% of group revenues at NOK 33.6m, up 66% y/y pro-forma. Gross earnings more than doubled and EBITDA was NOK -2.9m, an improvement from NOK -10.9m in Q1 21.
“We are firmly positioned and motivated to deliver our best year ever. For Xplora the first quarter of the year is about positioning the company to support our planned growth. We diligently review ongoing projects, develop sales initiatives and refine go-to-market strategies. Our solid financial position, our leading distribution network, a growing recurring revenue base, and exciting new offerings for release throughout the year build our confidence to deliver strong growth and improving results in 2022” says Sten Kirkbak, CEO of Xplora Technologies.
Key highlights of Q1 2022:
-Revenues +37% y/y to NOK 74.0m -Recurring service revenues +66% y/y, to NOK 33.6m -Gross margin +115% y/y, to a gross profit of NOK 41.0m -Subscribers increased 55% pro-forma y/y to 124.3k -Net change in cash NOK -6.3m with NOK 133.5m cash balances
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 124,300 subscription customers. 750,000 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, and the US.
Management will present the results on Wednesday, 25 May 2022 at 9:00 am CET via webcast. The presentation will be held in English, followed by a Q&A session.
Watch the presentation here:
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 9220 3710, firstname.lastname@example.org Mikael Clement, CFO +47 9900 8000, email@example.com
Karen Guillot, Business Analyst +47 9488 5859, firstname.lastname@example.org
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.