Xplora Technologies

Xplora reported soft revenue and gross profit for the historically seasonally neutral Q2, 9% and 5% lower than Bloomberg consensus, respectively. The shortcoming that is stealing all the focus, however, is the slow development in the Senior (Doro) segment...

* Q2 EBITDA 13% below cons on lower senior device sales * Doro Connect first retail pilot complete, Norway rollout from September * Expect cons to lower '26 EBITDA by 4-6%, share to follow EBITDA NOK 49m, -13% vs cons Revenue was NOK 422m, 9% below cons...

Xplora's Q2 revenue came in at NOK 422m in a seasonally neutral quarter, -9% lower than consensus. Gross profit came in at NOK 228m, -5% weaker than consensus. Opex was higher than consensus, and EBITDA came in at NOK 49m, 7m lower than consensus driven...

Ahead of Xplora's Q2 report, we lower our 2026-28 EBITDA estimates by 2-10%, mainly due to the emporia acquisition and a slightly slower increase in the Senior conversion rate, where we expect Xplora to reach steady-state conversion in 2028. We argue...

Xplora's monthly subscriptions update shows that the Xplora Kids subscriber base for Q2 2026 ended at 502k (Xplora does not give a split for the subscriber base). The company continued its strong conversion of new subscribers with a gross inflow of 68k...