Xplora Technologies (XPLRA) Q3 2025 earnings summary

Executive summary

• Achieved record Q3 2025 revenue of NOK 510 million, up 103% year-over-year, with recurring service revenue at NOK 90 million (+19% y/y) and subscriptions at 443,000 (+36% y/y), driven by Doro AB acquisition and organic growth.

• Gross profit rose 122% to NOK 263 million, and EBITDA increased to NOK 72 million (+133% y/y), with EBITDA margin improving to 14%.

• Cash position at NOK 426 million, up 141% year-over-year.

• Doro segment reversed declining sales, achieving 16% growth in handset sales and 17% revenue growth.

• Subscription base momentum in both Kids & Youth and Senior segments.

Financial highlights

• Gross margin improved to 52% from 47% year-over-year.

• Adjusted EBITDA for Q3 was NOK 76 million, excluding NOK 4.6 million in one-off management change costs.

• CapEx for Q3 was NOK 13 million; EBITDA after CapEx was NOK 59 million.

• Service revenue grew 19% year-over-year to NOK 90 million in Q3.

• Net profit reached NOK 35.3 million, up from NOK 16.5 million in Q3 2024.

Outlook and guidance

• Focus on annual growth in the kids category, preparing for retail rollout of Doro products with pre-installed SIM cards, and targeting one million subscriptions within three to four years.

• Plan to expand into 4-5 new MVNO markets over the next five years and scale into new verticals.

• Board has initiated a process to assess uplisting to a more appropriate stock exchange within 12 months.

• Strategic focus on broadening product grid and leveraging geographic presence.

• Q4 2025 expected to be stronger, with continued growth and profitability.