Xplora Technologies: Xploring new frontiers - ABG

Leader in children's smartwatches, entering new verticals
~800k subscriptions and 52% EBITA CAGR by 2028e
Fair value range of NOK 20-38/share


457k watches sold and 326k mobile subscriptions

Xplora Technologies (Xplora) is a leading provider of children's smartwatches, with 457k units sold in 2023 and 8% market penetration in the Nordics. The watches allow parents to communicate with and track their children without any risk of the child accessing non-child-friendly content. The company bundles its 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 LTM gross profit. Xplora also aims to expand into the senior and youth verticals, with expected product launches in Q4'24 and H2'25, respectively.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/xplora_technologies/Equity-research/2024/10/xplora-technologies---xploring-new-frontiers/