Xplora (XPLRA) investor relations material

Executive summary

• Subscription base reached 502,000, up 27% year-over-year, with strong growth in recurring service revenue and gross margin despite a softer consumer market.

• Group revenue for H1 2026 was NOK 798 million, flat year-over-year, with Q2 2026 revenue at NOK 422 million, down 9% year-over-year, mainly due to lower device sales.

• EBITDA after CapEx for H1 2026 grew 50% year-over-year to NOK 56 million, reflecting improved operational leverage and cost synergies.

• Gross profit for H1 2026 was NOK 433 million, up 3% year-over-year, with gross margin improving to 54% in Q2 2026.

• Strategic acquisitions (Doro and emporia) are expected to drive future growth, operational synergies, and market expansion, especially in the DACH region.

Financial highlights

• Service revenue for H1 2026 increased 13% year-over-year to NOK 182 million, while device revenue declined 4% to NOK 617 million.

• Q2 2026 EBITDA reported at NOK 49 million (margin 12%), down 5% year-over-year, but underlying EBITDA excluding one-offs was NOK 61 million, up 2%.

• Net profit for Q2 2026 was NOK 5.1 million, compared to a loss of NOK 27.5 million in Q2 2025.

• Cash balance at end of Q2 2026 was NOK 537 million.

• Group EBITDA for H1 2026 was NOK 76 million, up 11% year-over-year.

Outlook and guidance

• Focus remains on driving subscription growth, service revenue, and EBITDA after CapEx, with a target of one million subscriptions by 2029.

• Emporia acquisition expected to add revenue and significant synergy benefits, including NOK 50 million annual cost savings by 2027.

• Continued investment in retail model and POS system to drive higher sales and conversion rates.

• Children & Youth segment aims to add 100,000+ net new subscriptions annually; Senior segment targeting 200,000 subscriptions.