Oslo, 3 November 2023 - Xplora Technologies AS ("Xplora") today published its Q3
23 results. In Q3 23 Xplora generated group revenues of NOK 190.2m, +37% y/y.
Recurring service revenues were NOK 55.6m, +30% y/y and device revenue reached
NOK 134.1m, +41% y/y. Gross profit was NOK 86.3m for the quarter. EBITDA ended
at NOK 7.9m in Q3 23, for a YTD EBITDA improvement of NOK 35.1m. Xplora also
exited Q3 23 with a cash balance of NOK 116.6m.

"We are pleased to report that our performance this quarter mirrors the success
of our previous quarter, with our subscription base reaching 226k subscriptions.
Our achievements are a result of diversified revenue streams and strategic
initiatives undertaken throughout the year, driving an impressive 48%
year-to-date revenue growth. This robust performance has not only fueled our
growth, but also strengthened our financial position, resulting in a healthy
cash balance of NOK 116.6m at the end of Q3 23" says Sten Kirkbak, CEO of
Xplora.

Xplora achieved a reduction in operating expenses as a percentage of revenue of
13 percentage points y/y, creating a valuable improvement in the company's
EBITDA of NOK 23.7m. This demonstrates Xplora's steadfast focus on driving
profitable sales and maintaining cost discipline. Furthermore, Kirkbak adds,
"Our financial maneuvers, including the consolidation of banking services and
active currency hedging, alongside our new retail partner in the UK, are paving
the way for sustained growth. These efforts complemented by the success of our
premium offerings, which now engage more than 100k monthly active users,
showcases our ability to drive both user engagement and revenue".

Key highlights of Q3 2023:
- Group revenues +37% y/y to NOK 190.2m
- Recurring service revenues +30% y/y to NOK 55.6m, translating to an ARR of NOK
222m
- 226k subscriptions, up 54% y/y, of which 189k are connectivity subscriptions,
5k are revenue share subscriptions and 32k are premium service subscriptions
- Gross profit +45% y/y to NOK 86.3m
- Positive EBITDA of NOK 7.9m, an improvement of NOK 24m from the same quarter
last year
- NOK 116.6m in cash and cash equivalents

Management will present the results on Friday, 3 November 2023 at 10:00 am CET
live at PlusArena in Strandgata 19, 0152 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 ctivities 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.