Oslo, 17 November 2022 - Xplora Technologies ("Xplora") today published its Q3 22 results. In Q3 22 Xplora generated group revenues of NOK 138.5m, +28% y/y. Recurring service revenues were NOK 42.9m, up 41% y/y with device revenues +23% to NOK 95.4m. Gross earnings were NOK 56.7m and EBITDA was NOK -18.8m.
“Delivering 28% revenue growth with service revenues up 41% is a strong achievement in a challenging global market environment. We are finalizing major investments in our new hardware platforms, setup of our five new Mobile Service Provider (SIM) solutions and Goplay 2.0 for increased service revenues” says Sten Kirkbak, CEO of Xplora Technologies. “A stronger USD combined with these investments and lower than initially targeted revenues lead to results below expectations. The key R&D investments are approaching completion, and we are optimizing our cost structure through a more focused sales approach in which we aim to reduce our operating costs by 10-20% next year“.
Key highlights of Q3 22:
- Finalizing major investments in new products, Mobile Service Provider (MSP) operations and premium services
- Group revenues +28% y/y to NOK 138.5m - Number of subscribers increased 33% y/y to 147.4k
- Recurring service revenues +41% y/y, to NOK 42.9m
- Gross margin 41%, EBITDA NOK
–18.8m - Launched our entry level smartwatch XGO3, winning international acclaim
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 147,400 subscription customers. 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, and the US.
Management will present the results on Thursday, 17 November 2022 at 9:00 am CET 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.
Watch the presentation here:
For further information please contact:
Sten Kirkbak, CEO +47 9220 3710, email@example.com
Mikael Clement, CFO +47 9900 8000, 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.