Xplora Technologies: 66% EBITDA beat on strong watch sales - ABG

20% revenue beat driven by high watch sales, EBITDA 66% above
Opex was above, but likely due to extraordinary items
Cons to lift '25-'26e EBITDA, positive reaction warranted


Number of watches sold grew 30% y-o-y

Xplora reported total revenue of NOK 257m, 20% above Factset cons of NOK 214m (ABGSCe NOK 218m). The beat was driven by device revenue of NOK 182m, 28% above ABGSCe and corresponding to a growth of 36% y-o-y. Number of units sold was strong at 163k units, which was 23% higher than the 132k we had expected. The ASP was NOK 1,116, slightly above our expectation of NOK 1,073 but in-line with NOK 1,102 in Q2.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/xplora_technologies/Equity-research/2024/11/xplora-technologies---66-ebitda-beat-on-strong-watch-sales/