Xplora Technologies (Xplora) posted accelerating revenue growth in Q2 21 with group revenues up nearly fourfold to NOK 93.4m. 26% of group revenues were recurring services (ARR), and gross margins widened further to 43%. EBITDA came in at NOK 1.4m with adj EBITDA NOK 3.5m. Xplora exited Q2 having completed major service development programs, ready for commercial launch successively through H2 21 into 2022.
Sten Kirkbak, founder and CEO of Xplora Technologies commented: 'We are proud to report Q2 21 revenues up 4x and gross earnings up 12x from the year-earlier period. Q2 21 continued where Q1 21 left off, and we are moving into H2 21 with drive, excitement and optimism'.
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. A total of 450,000 smartwatches for kids have been sold since the company was launched, resulting in a rapid international expansion with offices in Norway, UK, Germany and Spain and a sales footprint in 19 markets across Europe and North America.
Key highlights of the second quarter of 2021:
- Q2 21 group revenues NOK 93.4m, +285% y/y on sale of 79k smartwatches, +180% y/y
- Recurring service revenues NOK 24.2m, representing 26% of group sales. Xplora held 94k mobile subscribers at end Q2 21, up 18% from 80k at Q1 21.
- Gross margins 43%, from 35% in the two previous quarters and 13% in Q2 20
- Adjusted EBITDA NOK 3.5m with reported EBITDA NOK 1.4m
- Successful integration of Xplora Mobile Holding
- Exited the quarter with NOK 144m in cash balances
- Xplora completed the most ambitious development program in the company’s history and is on track to introduce a range of new services through H2 21, driving further scalability and giving continued support to our agile business model.
‘Driving accelerating revenue growth with 26% share of revenues from recurring services, wider gross margins, and positive EBITDA in Q2 21 is a sign of strength and vitality of our business model, in a quarter where focus also was on integration of Xplora Mobile Holding while handing dynamic supply chain markets’, says Mikael Clement, CFO of Xplora Technologies. He continues, ‘the momentum we carry into H2 21 coupled with a strong financial base, the introduction of a range of new service offerings and a strong market development gives further support to our ambitious goals.’
Management will present the results on Wednesday 25 August 2021 via webcast at 09.00am (CET). The presentation will be held in English. Link to webcast: https://myxplora.co.uk/pages/webcasts
For further information please contact:
Sten Kirkbak, Chief Executive Officer: +47 9220 3710
Mikael Clement, Chief Financial Officer: +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.
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The information contained in this statement has not been audited and may be subject to change. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act