Xplora: Connecting a million families - Nordea
Detta är en aktieanalys producerad av tredje part och reflekterar därför nödvändigtvis ej våra åsikter och värderingar
Xplora is one of the leading players within smartwatches for kids and phones for seniors (65+), with almost two million devices sold annually. With the current rollout of subscriptions in the Youth and Senior segments, Xplora is becoming a family IoT company, connecting three generations on one platform. We envisage an increase in Xplora's number of subscribers to above 900,000 in 2028 (from ~350,000 in 2024), approaching the company's target of one million subscribers. We estimate a 32% service revenue CAGR for 2024-28, driven by rolling out connectivity to seniors. We initiate commissioned coverage of Xplora with a fair value range of NOK 45-95, based on different DCF scenarios, triangulated with peer multiples.