Xplora Technologies (XPLRA) Q4 2024 earnings summary

Executive summary

• Achieved 18% year-over-year revenue growth to NOK 813.3m in 2024, surpassing the 15% target, with EBITDA more than doubling to NOK 72m and marking the first positive full-year EBIT since IPO.

• Subscription base grew 39% to 358k, with ARR up 33% to NOK 281m; recurring service revenue increased by 30% annually.

• Service revenue outside the Nordics reached 14% of total, with Germany showing the highest net growth and becoming the third largest market.

• Strategic initiatives included the acquisition of Doro AB, expansion in Asia, and partnerships with HMD to enter the youth phone market.

• Achieved record-high cash position of NOK 235m, supporting strategic investments and acquisitions.

Financial highlights

• Q4 revenue up 15% year-over-year to NOK 243m; full-year revenue at NOK 813m.

• Q4 recurring service revenue rose 28% to NOK 77m; full-year service revenue up 34% to NOK 281m.

• Gross profit for Q4 up 17% to NOK 116m; full-year gross profit at NOK 406m (50% margin).

• Q4 EBITDA at NOK 23m, up 97% year-over-year; full-year EBITDA at NOK 72m, up 113% year-over-year.

• Cash position at year-end: NOK 235m, up NOK 98m year-over-year, with net positive cash flow from operations.

Outlook and guidance

• Targeting continued annual growth, with first youth and Doro SIM products launching in Q2 2025.

• Focus remains on service revenue growth, increased profitability, and reaching 1 million subscriptions within 4–5 years.

• Consolidated reporting with Doro begins Q1 2025, expected to double revenue and triple EBITDA.