Oslo 20 May 2021 - Xplora Technologies (Xplora) continued the strong growth from
2020 with 151% y/y sales growth in Q1 21 to NOK 54.0m. Gross margins were stable
q/q at 35.4%, and the company exited the quarter with a healthy cash balance of
NOK 245m. Activity has remained high throughout the quarter with many new wins,
additions to our team, the acquisition of Xplora Mobile Holding, several key
deliveries and defined IP and development strategy from the development team.

"The development in the first months of 2021 gives support to our targets: sales
growth remains strong and we continue to secure and add on new retail and
distribution partners in new and existing markets. We are adding internal
resources to manage the growth and our development team is delivering on
schedule. We have acquired our Nordic partner and MVNO giving access to a large
and growing portfolio of mobile smartwatch subscribers. The strong development
and many new initiatives in Xplora combined with an underlying strong market
momentum is highly supportive for exciting times ahead." 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 first quarter 2021: 

- Q1 21 group revenue up 151% to NOK 54.0m with gross margins of 35%.
- 62k smartwatches sold in Q1 21, +155% y/y.
- Adjusted EBITDA NOK -4.1m.
- We continue to invest in added headcount and marketing.
- Private placement raising NOK 153m in gross proceeds. We exited the quarter
with NOK 245m in cash balances.
- Acquisition of our key partner and Nordic MVNO Xplora Mobile Holding AS (XM).
XM posted an EBITDA of NOK 4.1m in Q1 21. 
- Several new distributor and retail/telco wins that will support H2 21 growth.
- High activity and major investments in our development team which has defined
and concentrated our IP and development strategy around four key elements: i)
Wearables (devices) ii) SaaS iii) TaaS and iv) Fintech.

"Q1 21 marks a strong start to an exciting year. We are very pleased to report
151% sales growth considering the many closed retail outlets across Europe due
to Covid-19 restrictions. We maintain strong gross margins, are quickly scaling
our operations to handle the anticipated growth and have secured additional
growth financing with a solid cash balance of NOK 245m at Q1 21", says Mikael
Clement, CFO of Xplora Technologies. 


Management will present the results on Thursday May 20 2021 via 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