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, up 33% year-over-year.

• Gross profit rose 179% to NOK 312 million in Q4, and EBITDA after CapEx reached NOK 101 million, both all-time highs.

• Integration of Doro AB expanded the Senior segment, driving scale, profitability, and improved group margins.

• Strong cash position at year-end with NOK 423 million and positive operational cash flow.

• Strategic focus on scaling subscriptions, expanding product offerings, and leveraging both 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 (+NOK 82 million y/y); gross margin improved to 51% from 47% y/y.

• Full-year 2025 revenue was NOK 1,918 million, gross profit nearly NOK 1 billion, and EBITDA NOK 241 million, including some one-offs.

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

• Cash balance at NOK 423 million (+80% y/y); capex NOK 4 million in Q4.

• 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 net additions of over 100,000, with growth from both youth and senior segments.

• Plans to expand into four to five new markets over the next five years, both organically and inorganically.

• Continued focus on profitable growth, high-margin MVNO model, and potential uplisting to a regulated marketplace in 2026.

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

• Service revenue scaling targeted through market expansion, software, and safe AI solutions.