Oslo, 17 March 2023 – Xplora Technologies AS ("Xplora") today published its Q4 22 results. In Q4 22 Xplora generated group revenues of NOK 178.8m, +2% y/y. Recurring service revenues were NOK 40.9m, up +21% y/y. Gross profit were NOK 71.2m and EBITDA was NOK -20.4m.
"This year was a very productive and accomplished year operationally for Xplora, completing major investments in three new smartwatch platforms, mobile service operations and platform services. With an improved cost structure, our first fully in-house developed watch – X6Play, new Mobile Service Provider agreements in five exciting markets and a NOK 100m supply-chain financing we are ready to take on 2023” says Sten Kirkbak, CEO of Xplora. “Concurrently the challenging market conditions have affected our results this year. We see a slower growth in product revenue in Q4 22 compared to previous years, but we also see a steady increase in connectivity subscriber base, signaling a robust value proposition. The changes and investments made in 2022 has set the course for what we believe will be a strong 2023”.
Key highlights of Q4 2022:
- Went live as a mobile service provider in France, Spain and Germany
- Secured NOK 100m supply-chain financing
- Received CES 2023 “Best of Innovation” award for the X6 Play, our new premium model
- Exited 2022 with 156.900 mobile subscribers, up 27% y/y
- Captured 49% of the net growth of mobile subscribers in the Norwegian market in the 5-year period H1 2017 through H1 2022 (Norwegian Communication Authority)
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 156,900 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, 17 March 2023 at 11:00 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 and Capital Markets Update.
The presentation can be seen 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.
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.