Xplora Technologies (XPLRA) Q4 2025 earnings summary

Executive summary

• Achieved record Q4 revenue of NOK 606 million, up 154% year-over-year, and full-year revenue of NOK 1,918 million, with recurring services revenue at NOK 91 million and subscriptions reaching 476,000 (+33% y/y).

• Gross profit rose 179% to NOK 312 million in Q4, and EBITDA reached NOK 101 million, both all-time highs, with full-year EBITDA at NOK 241 million.

• Subscription base growth was driven by both Kids & Youth and Senior segments, with integration of Doro AB expanding scale and profitability.

• Cash balance at year-end was NOK 423 million (+80% y/y), supporting operational flexibility.

• Strategic focus on scaling subscriptions, expanding product offerings, and leveraging organic and inorganic growth to reach 1 million subscriptions by 2028/2029.

Financial highlights

• Q4 2025 revenue: NOK 606 million (+154% y/y); gross profit: NOK 312 million (+179% y/y); EBITDA: NOK 101 million (margin 17%).

• Gross margin improved to 51% in Q4 (up from 47% y/y); full-year gross margin at 52%.

• Subscriptions reached 476,000 (+33% y/y); recurring services revenue NOK 91 million (+19% y/y); ARR at NOK 366 million (+19% y/y).

• EBIT for Q4 was NOK 79 million, up from NOK 8 million in Q4 2024; net profit Q4: NOK 49.1 million.

• One-off costs in FY25 included transaction and provision costs totaling NOK 24 million.

Outlook and guidance

• Targeting 1 million subscriptions by 2028–2029, requiring annual growth of 100,000+ new subscriptions.

• Growth expected from both Kids & Youth and Senior segments, with expansion into 4–5 new markets over the next five years.

• Continued focus on profitable growth, expanding product grid, increasing MVNO markets, and uplisting preparations.

• Ongoing investments in new devices, software, and AI to reinforce scalability and long-term growth.