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Xplora Technologies Q3 21 – Laying foundations for further scalability

Xplora Technologies Q3 21 – Laying foundations for further scalability

Oslo, 25 November 2021

Q3 21 marked another milestone quarter for Xplora Technologies (Xplora) with sales more than doubling to NOK 108.0m and gross earnings up 4x from Q3 20 with positive EBITDA. Xplora has secured a mobile subscriber base of more than 110,700 and recurring service sales grew 23% q/q to NOK 30.4m, representing 28% of group sales. Higher recurring service revenues are driving stronger operating leverage with gross margins up to 49%. The tech team has delivered on a number of milestones, and business development activity has been high, laying the base for further growth, new revenue streams and scalability

Sten Kirkbak, founder and CEO of Xplora Technologies commented: ’Xplora has reported another quarter of strong growth and wider gross margins. I am proud of the achievements Xplora has won, the growth that we have managed, the ecosystem of global partners we have built and the market position we have secured. I am confident that Xplora's strong identity, our unique value proposition and scalable business model will be winning factors in the continued development of the industry´.

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 540,000 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 22 markets across Europe and North America.

Key highlights of the third quarter of 2021:

  • Q3 21 group revenues +135% y/y to NOK 108.0m
  • Recurring service revenues +23% q/q to NOK 30.4m, representing 28% of sales
  • Gross margins widened further to 49% from 43% in Q2 21. Positive EBITDA.
  • NOK 114m in cash balances and 71% equity ratio
  • Major deliveries from the tech and business development teams
'Growth continued at a high rate in Q3 21, partly driven by strong momentum in recurring service sales, now at 28% of group sales. Gross margins widened further, and EBITDA was positive, showing strength in our business model in very challenging market environments. While our US market entry has proven more time consuming than expected we remain positive to our outlook, both in new and existing markets. Major deliveries on platform and service development and buildup of our sales, tech, customer support and operations teams have driven up the cost base in 2021. We aim to deliver higher operating leverage in 2022 as major operational investments through 2021 will start paying off', says Mikael Clement, CFO of Xplora Technologies.

Management will present the results on Thursday 25 November 2021 via webcast at 09.00am (CET). The presentation will be held in English. Link to webcast:

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

Q3 2021 Presentation
Q3 2021 Report

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