Xplora Technologies Q4 20:
All-time high revenue and positive EBITDA
Oslo 25 February 2021 - Xplora Technologies AS (Xplora) closed last year on a strong note with an all-time high 2020-sales of NOK 200 million (+228%), reaching the target of 30% gross margin on devices and a positive EBITDA and cash flow in Q4 2020.
«We entered 2020 with great ambitions and closed the year with even stronger accomplishments and new goals. With accelerating sales growth exceeding our volume target for the year, proving the scalability of our business model and generating positive earnings in the final quarter of the year is a team effort we are proud of», says Sten Kirkbak, CEO of Xplora Technologies.
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 350,000 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.
Key highlights of the fourth quarter 2020:
- Q4 20 revenue up 363% to NOK 108.7m with adjusted EBITDA NOK 11.6m. • 116k smartwatches sold in Q4 20 +332% y/y. 216k units sold for the year (74k). • Gross margin 36.5% (35.2% adjusted) in Q4 20, 29.9% for the year, reaching our target of 30% gross margin on devices.
- NOK 100m gross proceeds private placement and successful listing on Euronext Growth
- Extended partnership with D Telekom with smartwatch wins in new geographies with D Telekom subsidiaries.
- Signed agreement with Gigs GmbH for the 2021 release of Xplora’s global connectivity solution for Sim, eSim and VoIP.
- Released Xplora’s entry level smartwatch XGO2, securing two new manufacturing partners.
«The fourth quarter 2020, a seasonally strong quarter, marked a record quarter for Xplora in a number of ways. This includes delivering on our previously announced sales and gross margin targets, driving positive EBITDA and cash flow from operations for the first time in the company’s history. The operational improvements and the continued underlying improvement in gross margins are especially welcome giving rising supply constraints in value chain, long lead times and upward pressure on several components in addition to logistical challenges in the freight market», says Mikael Clement, CFO of Xplora Technologies.
Industry analysts and component suppliers are forecasting strong growth in the market for smartwatches for children over the next years with Europe and North America anticipated to secure a higher share of the market.
«We experience strong and rising interest for our products, both devices and platforms. We aim to sell 500,000 devices in 2021, rising to one million devices in 2022. Further we will widen our revenue base through the introduction of a variety of recurring service revenue streams and licensing», Kirkbak adds.
Management will present the results on Thursday February 25 2021 via a webcast at 09.00am (CET). The presentation will be held in English. Link to webcast: www.myxplora.com/investor
For further information please contact:
Sten Kirkbak, Chief Executive Officer: +47 9220 3710
Mikael Clement, Chief Financial Officer: +47 9900 8000
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 subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
