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Xplora Q4 2024 Report
Prenumeration
Beskrivning
| Land | Norge |
|---|---|
| Lista | Euronext Growth Oslo |
| Sektor | Informationsteknik |
| Industri | Programvara |
Oslo, 28 February 2025 -- Xplora Technologies AS ("Xplora") today published its results for Q4 24 and preliminary results for the full year 2024. Revenue in Q4 24 increased by 15% y/y to NOK 243m, with gross profit increasing 17% to NOK 116m and EBITDA almost doubling to NOK 23m (NOK 12m). Revenue in the high-margin Service segment increased by 28% y/y to NOK 77m. Device revenue increased by 10% y/y to NOK 166m. Operating profit (EBIT) was positive NOK 8m in Q4 24, compared with an operating loss of NOK 4m in Q4 23, whereas the profit before tax was NOK 3m compared with a loss of NOK 1m in Q4 23.
“We continue to deliver solid revenue growth with an increasing share of high-margin service revenue. Combined with high operational leverage and disciplined cost control, this translates into sharply improving profitability,” says CEO Sten Kirkbak in Xplora.
For the full year 2024, Xplora delivered a revenue increase of 18% to NOK 813m, exceeding the long-term growth ambition of 15%. Service revenue increased by 33% to NOK 281m and Device revenue by 12% to NOK 533m. EBITDA for the full year more than doubled to NOK 72m (NOK 34m), with EBIT improving to NOK 12m from an operating loss of NOK 23m in 2023. The loss before tax of NOK 2m compared with a loss of NOK 30m in 2023.
At the end of the year, Xplora had 358k subscriptions, an increase of 10% in the fourth quarter and 39% in 2024. This drove the high-margin service revenue ARR to NOK 308m at the end of the year.
Xplora ended 2024 with a strong cash position of NOK 235m, mainly reflecting a positive net cash flow from operations of NOK 40m in Q4 24 and NOK 98m for the full year. Capex ended at NOK 5m in Q4 24 and NOK 20m for the full year.
Moving into 2025, Xplora enters a transformative new chapter as the strategic scope is expanded to leverage the connectivity platform to the Senior and Youth markets in addition to the existing Kids market. The acquisition of Doro and strategic partnership with HMD strongly support Xplora’s ambition to reach one million subscriptions over the coming years.
The acquisition of Doro AB in the Senior market roughly doubles the company’s revenue base and triples EBITDA, while opening multiple new growth avenues for the combined company. With annual sales of more than 1.5 million devices across 20 geographical markets, Doro adds significant potential for high-margin service revenue expansion through the deployment of Xplora SIM cards and service offerings across Doro’s substantial customer base. Doro will be included in the financial statements with effect from Q1 2025.
Management will present the results on Friday, 28 February 2025 at 08:00 am CET live at SpareBank1 Markets in Olav Vs gate, 0161 Oslo and 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.
For further information please contact:
Sten Kirkbak, CEO +47 922 03 710, sten.kirkbak@xplora.com
Knut Stålen, CFO +47 920 43 458, knut.stalen@xplora.com
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.