Oslo, 16 August 2024 – Xplora Technologies AS ("Xplora") today published its Q2 24 results. In Q2 24 Xplora generated group revenues of NOK 194.5m, a 21% y/y organic revenue growth, excluding the NOK 30.0m one-time effect of the Master Distribution Agreement (MDA) in Q2 23. Service revenue ended at NOK 65.6m, +33% y/y and device revenue reached NOK 129.0m, +16% y/y when excluding the MDA effect. Gross profit was NOK 96.1m and EBITDA ended at NOK 17.0m in Q2 24 and NOK 18.7m in H1 24. Xplora exited Q2 24 with a cash balance of NOK 126.3m.

This quarter, Xplora is pleased to report strong revenue and profitability, achieving the second highest quarterly revenue in the company’s history. When excluding the one-time MDA effect from Q2 23, Xplora increased revenue for the quarter by 21% y/y. “Even when considering last year’s reported revenue, we still see growth, marking what was once exceptional, is now our new normal”, says Kirkbak, CEO at Xplora. In H1 24, Xplora achieved a 33% y/y growth in EBITDA to NOK 18.7m, with CapEx at NOK 8.0m, meaning that EBITDA minus CapEx is positive at NOK 10.7m. “Our strategy of selling products with higher Average Selling Price and connectivity bundles, is working!”, Kirkbak adds.

Key highlights of Q2 2024:
- Group revenues +2% y/y to NOK 194.5m (+21% excluding the one-time MDA effect in Q2 23)
- Service revenues +33% y/y to NOK 65.6m, translating to an ARR of NOK 262.2m
- 281k subscriptions, up 49% y/y, of which 221k are connectivity subscriptions, 12k are revenue share subscriptions, 3k are service fee subscriptions and 45k are premium service subscriptions
- Gross profit +8% y/y to NOK 96.1m
- Positive EBITDA of NOK 17.0m 
- CAPEX of NOK 4.6m, down from NOK 6.8m in Q2 23
- NOK 126.3m in cash and cash equivalents

Key highlights of H1 2024:
- Group revenues +9% y/y to NOK 313.3m (+22% excluding the one-time MDA effect in Q2 23)
- Service revenues +36% y/y to NOK 128.2m
- Positive EBITDA of NOK 18.7m, +33% y/y
- CAPEX equal to NOK 8.0m, down from NOK 11.2m in H1 23

Management will present the results on Friday, 16 August 2024 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.