Press the button and be introduced to a new random company!

Introduce me >

Social media

facebook   Follow us on Twitter

Coverage

Xplora Technologies

Xplora Technologies

Send subscription Close

Xplora is a leading provider of kids' smartwatches and sold 457k watches in 2023. The watches enable parents to contact and track their children and are restricted to only showing child-friendly content. The company bundles their smartwatches with mobile subscriptions and premium services, ensuring recurring service revenues in addition to device sales. As of Q3’24 it had 326k subscriptions, and the service segment accounted for 58% of total LTM gross profit in Q2'24. It has established itself as the leading kid's smartwatch player in Europe, with 20% market penetration in Norway and 8% in the Nordics overall. The company will also start to offer senior watches and youth smartphones, with expected product launches in Q4'24 and H2'25, respectively.

Sustainability information

The global market has numerous international competitors. With low barriers to entry, there are few hindrances that shield Xplora’s product proposition from being replicated. This could lead to loss in market share, reduced revenues, pressure on margins, loss of personnel, etc. User preferences change over time, and there is a risk that Xplora will not be able to adapt its offering to meet changing preferences. Xplora is constantly seeking to develop new products, and R&D failures may occur. The company’s subscription churn is 30-40% annually. If Xplora fails to replace the loss in customers, stability in revenue flow would decrease. Xplora has a large digital platform and could thus be subject to hacking, which could damage the company’s reputation.

Financials

NOKm 2024 2025e 2026e
Sales 813 1851 1945
Sales growth (%) 18 127,6 5,1
EBITDA 72 220 240
EBITDA margin (%) 8,8 11,9 12,3
EBIT adj. 12 147 171
EBIT adj. margin (%) 1,5 8 8,8
Pretax profit -2 -20 86
EPS -0,13 -1,16 1,37
EPS growth (%) -72,4 N/A N/A
EPS adj. 0,72 -1,06 1,37
DPS 0 0 0
EV/EBITDA (x) 31,6 13 11,9
EV/EBIT adj. (x) 186,5 19,4 16,7
P/E (x) N/A N/A 40
P/E adj. (x) 76,5 N/A 40
EV/sales (x) 2,8 1,54 1,46
FCF yield (%) 3,2 -22,3 0,5
Le. adj. FCF yld. (%) 3,2 -22,3 0,5
Dividend yield (%) 0 0 0
Net IB debt/EBITDA (x) -2 2,1 1,9
Le. adj. ND/EBITDA (x) -2 1,9 1,7
NOKm 2024 2025e 2026e
Sales 813 1851 1945
COGS -408 -889 -930
Gross profit 406 963 1015
Other operating items -334 -743 -775
EBITDA 72 220 240
Depreciation and amortisation -22 -68 -69
of which leasing depreciation 0 0 0
EBITA 50 152 171
EO Items 0 0 0
Impairment and PPA amortisation -38 -5 0
EBIT 12 147 171
Net financial items -15 -167 -85
Pretax profit -2 -20 86
Tax -4 -23 -19
Net profit -6 -43 67
Minority interest 0 -9 -6
Net profit discontinued 0 0 0
Net profit to shareholders -6 -52 61
EPS -0,13 -1,16 1,37
EPS adj. 0,72 -1,06 1,37
Total extraordinary items after tax 0 0 0
Leasing payments 0 0 0
Tax rate (%) -151,8 -118 22
Gross margin (%) 49,9 52 52,2
EBITDA margin (%) 8,8 11,9 12,3
EBITA margin (%) 6,1 8,2 8,8
EBIT margin (%) 1,5 8 8,8
Pre-tax margin (%) -0,3 -1,1 4,4
Net margin (%) -0,7 -2,3 3,4
Sales growth (%) 18 127,6 5,1
EBITDA growth (%) 113,4 206,3 9
EBITA growth (%) 185,9 205,6 12,3
EBIT growth (%) -153,3 N/A 15,8
Net profit growth (%) -72,4 628,9 -255,8
EPS growth (%) -72,4 N/A N/A
Profitability N/A N/A N/A
ROE (%) -1,7 -14,5 15,2
ROE adj. (%) 9,2 -13,2 15,2
ROCE (%) -0,6 -2,2 6,1
ROCE adj. (%) 8,3 -1,7 6,1
ROIC (%) 52,9 64,4 15,5
ROIC adj. (%) 52,9 64,4 15,5
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 72 220 240
EBITDA adj. margin (%) 8,8 11,9 12,3
EBITDA lease adj. 72 220 240
EBITDA lease adj. margin (%) 8,8 11,9 12,3
EBITA adj. 50 152 171
EBITA adj. margin (%) 6,1 8,2 8,8
EBIT adj. 12 147 171
EBIT adj. margin (%) 1,5 8 8,8
Pretax profit Adj. 35 -15 86
Net profit Adj. 32 -38 67
Net profit to shareholders adj. 32 -47 61
Net adj. margin (%) 3,9 -2,1 3,4
NOKm 2024 2025e 2026e
EBITDA 72 220 240
Goodwill 119 454 454
Net financial items -15 -167 -85
Other intangible assets 59 373 362
Paid tax 0 0 0
Tangible fixed assets 1 25 25
Non-cash items 0 0 0
Right-of-use asset 0 49 49
Cash flow before change in WC 57 53 155
Total other fixed assets 6 19 9
Change in working capital 41 -55 -85
Fixed assets 185 919 898
Operating cash flow 98 -2 70
Inventories 81 324 366
Capex tangible fixed assets 0 0 0
Receivables 77 284 326
Capex intangible fixed assets -20 -59 -59
Other current assets 0 0 0
Acquisitions and Disposals 0 -484 0
Cash and liquid assets 235 544 555
Free cash flow 78 -545 12
Total assets 578 2070 2146
Dividend paid 0 0 0
Shareholders equity 349 364 440
Share issues and buybacks 0 -7 0
Minority 0 0 0
Leasing liability amortisation 0 0 0
Total equity 349 364 440
Other non-cash items 0 -158 0
Long-term debt 90 957 957
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 0 49 49
Total other long-term liabilities 0 103 103
Short-term debt 0 0 0
Accounts payable 49 0 0
Other current liabilities 90 598 598
Total liabilities and equity 578 2070 2146
Net IB debt -146 462 450
Net IB debt excl. pension debt -146 462 450
Net IB debt excl. leasing -146 413 401
Capital employed 438 1370 1446
Capital invested 203 826 890
Working capital 18 10 95
Market cap. diluted (m) 2420 2445 2445
Net IB debt adj. -146 413 401
Market value of minority 0 0 0
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 2274 2858 2846
Total assets turnover (%) 144,6 139,8 92,3
Working capital/sales (%) 3,8 0,7 2,7
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) -41,7 126,6 102,2
Net debt / market cap (%) -6 18,9 18,4
Equity ratio (%) 60,3 17,6 20,5
Net IB debt adj. / equity (%) -41,7 113,3 91,1
Current ratio 2,81 1,93 2,09
EBITDA/net interest N/A N/A N/A
Net IB debt/EBITDA (x) -2 2,1 1,9
Net IB debt/EBITDA lease adj. (x) -2 1,9 1,7
Interest coverage N/A N/A N/A
NOKm 2024 2025e 2026e
Shares outstanding adj. 44 45 45
Diluted shares adj. 44 45 45
EPS -0,13 -1,16 1,37
Dividend per share 0 0 0
EPS adj. 0,72 -1,06 1,37
BVPS 7,65 7,81 8,17
BVPS adj. 3,85 -10,36 -8,41
Net IB debt/share -3,3 9,26 9
Share price 54,8 54,8 54,8
Market cap. (m) 2420 2445 2445
P/E (x) N/A N/A 40
EV/sales (x) 2,8 1,5 1,5
EV/EBITDA (x) 31,6 13 11,9
EV/EBITA (x) 45,7 18,8 16,7
EV/EBIT (x) 186,5 19,4 16,7
Dividend yield (%) 0 0 0
FCF yield (%) 3,2 -22,3 0,5
Le. adj. FCF yld. (%) 3,2 -22,3 0,5
P/BVPS (x) 7,16 7,01 6,71
P/BVPS adj. (x) 10,54 -27,43 -184,28
P/E adj. (x) 76,5 N/A 40
EV/EBITDA adj. (x) 31,6 13 11,9
EV/EBITA adj. (x) 45,7 18,8 16,7
EV/EBIT adj. (x) 186,5 19,4 16,7
EV/CE (x) 5,2 2,1 2
Investment ratios N/A N/A N/A
Capex/sales (%) 2,5 3,2 3
Capex/depreciation 0,9 0,9 0,8
Capex tangibles / tangible fixed assets 0 0 0
Capex intangibles / definite intangibles N/A N/A N/A
Depreciation on intang / def. intang N/A N/A N/A
Depreciation on tangibles / tangibles 2328,7 269,7 274,4

Equity research

Read earlier research

Media

Xplora Technologies - Company presentation with Founder & CEO Sten Kirkbak & CFO Knut Stålen

View more media

Main shareholders -

Main shareholders Share capital % Voting shares % Verified
Passesta AS 13.3 % 13.3 % 2 Dec 2025
Harald Ulltveit-Moe 6.0 % 6.0 % 2 Dec 2025
Vinterstua AS 5.2 % 5.2 % 2 Dec 2025
Eden AS 5.0 % 5.0 % 2 Dec 2025
S. Munkhaugen AS 4.4 % 4.4 % 2 Dec 2025
MP Pensjon PK 4.0 % 4.0 % 2 Dec 2025
Camelback 3.0 % 3.0 % 2 Dec 2025
Mk Capital AS 2.9 % 2.9 % 2 Dec 2025
Sten Kirkbak 2.5 % 2.5 % 2 Dec 2025
Esmar AS 2.4 % 2.4 % 2 Dec 2025
Source: Holdings by Modular Finance AB