Oslo, 16 May 2024 - Xplora Technologies AS ("Xplora") today published its Q1 24
results. In Q1 24 Xplora generated group revenues of NOK 118.7m, +24% y/y.
Service revenues were NOK 62.7m, +38% y/y and device revenue were NOK 56.1m,
+12% y/y. Gross profit ended at NOK 68.9m and EBITDA ended at NOK 1.6m in Q1 24.
Xplora exited Q1 24 with a cash balance of NOK 119.6m.

The first quarter of the year has traditionally been the softest due to seasonal
factors, however, Q1 24 witnessed a significant increase in revenue. This
achievement reflects the resilience of the foundations laid in 2023. "We managed
to increase both service and device revenue compared to Q1 23, even when selling
slightly fewer units and seeing a flat development in our subscription base from
last quarter. In addition, we ended the quarter with a positive EBITDA. These
achievements are a result of our focus on increasing Average Selling Price on
our devices, growing service revenue and keeping a continued emphasis on
attentive costs management", Says Kirkbak, CEO at Xplora. 

Key highlights of Q1 2024: 

- Group revenues +24% y/y to NOK 118.7m 
- Service revenues +38% y/y to NOK 62.7m, translating to an ARR of NOK 250.8m 
- 255k subscriptions, up 51% y/y, of which 203k are connectivity subscriptions,
10k are revenue share subscriptions, 2k are service fee subscriptions and 40k
are premium service subscriptions 
- Gross profit +20% y/y to NOK 68.9m 
- Positive EBITDA of NOK 1.6m, an improvement of NOK 4.3m from the same quarter
last year  
- CAPEX of NOK 3.4m, down from NOK 4.4m in Q1 23 
- NOK 119.6m in cash and cash equivalents 

Management will present the results on Thursday, 16 May 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.

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