Xplora publishes Q4 22 trading statement falling short of guidance interval
Xplora released its Q4 2022 trading statement this morning, revealing full-year revenues of NOK 500.5m, a growth year-on-year of 16%, which fell short of the company’s revised guidance of annual revenue growth of 20-30%. Recurring revenues FY 2022 were NOK 152.2m, a year-on-year growth of 68%.
In Q4, group revenues were NOK 177.3m, a growth of 1% y/y, demonstrating a challenging Q4 in the face of economic headwinds and inventory build-up. Recurring revenues amounted to NOK 40.9m, up 21% y/y; however, down 5% from the previous quarter (Q3 22), which realised NOK 42.9m from recurring revenues. Xplora exited 2022 with 156.9k subscribers, y/y growth of 27% and q/q growth of 6%.
Xplora will release more details regarding its Q4 results on 1 March 2023, when it publishes its Q4 2022 report and preliminary FY 2022 report.
Read the full update: https://live.euronext.com/en/node/12022181
Disclaimer: HC Andersen Capital receives payment from Xplora for a Digital IR/corporate visibility subscription agreement/ Philip Coombes 09:40 27.01.2023
Xplora Technologies AS is a Norwegian based company that develops and sells smartwatches designed to safely onboard children to the digital world. Xplora Technologies was listed on the Euronext Growth Oslo market in Nov 2020. Xplora Technologies gives parents the confidence to allow their children to play freely outside by providing connectivity and additional safety solutions whilst simultaneously incentivising physical activity and engagement with ESG initiatives through its digital Goplay platform. Together with producing and selling hardware Xplora Technologies generates recurring revenues from value-adding services and connectivity referred to as the Xplora Service Platform. Xplora also extends third-party licenses of the service platform to other smart devices producers, further extending upselling capabilities.
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