First of all, it's Alexandre Mafra, our CFO. It's a job that we wanted to fill for a long time, and we bring him on board with a lot of experience in various areas. He'd been through Ambev, through TOTVS. He's worked for Patria, and he has experience. He has a great deal of experience in M&As. Dozens of M&As done. However, nobody better than us to talk about that. First of all, I'm gonna pass him the word over to him to present himself. Alexandre. Thank you very much for the invitation. I'm very happy to participate here, joining the team here with you. ClearSale is in a moment of expansion, which is very, very fundamental for this business. We have. I bring the experience of 25 years in companies like Ambev, TOTVS, Patria, and I come with the objective of strengthening our strategy of investment and efficiency, and I will dedicate myself so that ClearSale can continue to have a huge success story. Now I'm gonna pass it back over to Bernardo, who will start the presentation talking about our reinforcement of Maria Isabel, Director of Legal and Governance. The first statutory director of ClearSale. She has a great deal of experience in Varig and Airbus, and she'll substitute Mauro Bach, our partner who leaves the company after more than 10 years with us, and we just wanna send him special thanks. We have Gonçalo Pascoal, who finally will complete our commercial structure in Latin America, which is the principal avenue for growth in our international area, as we have been saying in several of the last few meetings. He has a passage through Dell, Google, companies of technology, and a company in our sector, which is Shopify. So he has everything to set up a winning structure. We lost time last year, and now we're finally completing the team. He's already at work, and we're very confident in this conquest of the market going forward, Latin American market going forward. We have André Futuro, our Head of Acceleration. We have partnerships and acquisitions. He's also been through Thales and through Varig, and also has the mission of accelerating this avenue which has so much potential for ClearSale, and he has an eye on opportunities, new opportunities as well. In terms of people diversity and culture, we continue among the best in Brazil in the humanization research and best place to work. In employer branding, we had an award from FURIA, which is an online game online game most famous in Brazil. Several materials about us in the media. In terms of women in leadership, we won the award Women in Tech promoting several panels on that subject. We have the tech manifesto for inclusion of people in the digital world and technology. We have the internal pro-inclusion program internally with Beta Learning, a company that with developing software which beyond being connected with the universities, is also for formation of technology, programming, et cetera. Remembering that we are always very concerned in this, in focusing on growth, which will always involve the development of software and artificial intelligence. In the evolution of our products, which were the principal destination of our proceeds, we have the Data Trust, where we have a new feature, a new supplier, Liveness, best in class in the market. We also have our first client in our know your customer area, which is Background Check. We have one more component for the Data Trust in production. In the e-commerce, we continue doing the biometry for store pickups and swaps. These e-commerce processes are more and more safer and more and more desirable too as well. We also have an area logged in for clients, which is called My Clear, where he can pick up his billing, consult his results, et cetera. Also done by Beta Learning. We also have Mercado Libre in production, as we announced in our last quarter. It's in production with three ClearSale products already in use: anti-fraud in e-commerce and Checkout, which is the innovation area, and Business Trust. We also have the Flow project, which is a reconstruction of the architecture and technology of processing, which increased from 6,500 orders per minute to 20,000 orders per minute. This also in the cloud with much more velocity and lower cost of processing. We also have a war room for the control of indicators. As you see in the last results, we have missed out on some revenues due to penalties, and these indicators, once they are stabilized, we will have a success fee. However, this comes with time. It takes a while to happen. This war room has been installed since the beginning of the year. We have projects of improvements in efficiency and automation. The rollout of the two-factor authentication by WhatsApp, biometrics, e-commerce as well, and the maximization of the use of our base for the network effect. All of this will generate efficiency, automatic approval and lower costs for human analysis. Other efficiency products such as the use of the dialer Avaya to generate more productivity and optimizations of our cloud. We had a big conquest which was to migrate from a physical data center to 100% to the cloud, and which is now part of our which will generate gross margins over time. In our conversation with investors, which we had recently, we see that it's very important to remind the concept of recurring income. We're not a company of software as a service, pure software as a service. We're a service where software as a service like. We can use the diverse indicators of software as a service. We have to understand how it is composed, the annual revenue of ClearSale. We closed December with a recurring monthly revenue, which is represented by this bar here. If I multiply it x 12, I would have my recurring annual income. If the clients who are with me continue with me with the same amount of consultations for 12 months, that's how much I would have in the next year. However, this suffers from various factors which can make this revenue at the end of the year be higher or lower than this 12-month projection. For as I've churned, I may have renegotiation of prices which influences this total revenue of the year down and/or up. We have to have the replacement of inflation, recovery of inflation increases. We could have such frauds or success fees which increase or diminish that. We have one part which is the number of consultations for ClearSale, which ClearSale is not able to control. I can't, for instance, ask the consumer to solicit it to order a credit card. This is done by consultation. I can't help him make an e-commerce purchase. I can't make a consumer open a bank account or a digital account or a fintech services, et cetera. This makes our revenue go up or down. In any event, beyond that we have our new sales, the MRR which I will add over the year, ends in December and in next year if everything continues constant, the number of consultations, et cetera, we would have 12 x that MRR, multiplied by this December level. However, the revenue base accumulates. All of this is subject to the same factors, those which we have strong influence over in churn and renegotiation of prices and new sales, and others. Systemic factors which depend on what the consumer is up to and the intensity with which he's doing it. Online purchases, proposals, credit propositions, et cetera. We add more new sales, and this cycle perpetuates. This part here below is what we call our Net Dollar Retention. It's always been positive for ClearSale, but what happened this year is that it's partly positive and partly flat, which has made this year a little bit more difficult than the most difficult part of these results. However, we know the Brazilian market which goes up and down, and we have different years going forward, different numbers going forward due to different factors. Let's go to the economic picture overall. We have several systemic factors. Our effect on our revenue and our base, let's say as an example, our biggest contingency is the order volume of e-commerce. We are in a quarter which is totally non-pandemic compared with the quarter of 2021, which was the peak of the pandemic. Many people that purchased online at that time who started to buy online due to the lockdown, part came back to the physical retail and part stayed online. This is a huge unknown factor. We didn't know if e-commerce would continue to grow or if it would suffer a pullback. We see some stagnation in the order volume, the number of orders on e-commerce. Beyond that, digitalization has also brought us a systemic risk of fraud. We set up a war room with the best specialists in ClearSale, which are almost the same as best in Brazil to control these indicators. There are other new cards coming, new factors coming out, but we're on top of it. We have a lot of impact. If that wasn't enough, these systemic differences. The discretionary consumption where you have unemployment, recovery after the pandemic, generating more social inequality, inflation in basic costs such as food, gasoline, diesel, which impacts all of these again. There's very little money left over for the consumer for discretionary purchase. Added to that, we have the part of interest and non-payment. Lack of payments makes it difficult to have access to credit and also the question of credit cards, which is a large part of our revenue in e-commerce, is originated by people who use credit cards. All of this together has brought a few highlights in our first quarter. Our net revenue grew quarter-over-quarter 8%. If I hadn't had the loss due to frauds and penalties, which are normal, I could have captured 13% of growth. It's a discrete growth for the quarter due to all of the different factors which I just explained. Onboarding, since we add a lot of revenue, recurring monthly revenue last year, and we have now been captured and so that has grown by BRL 34 million, 35% year-over-year. The e-commerce revenue, we lost 5% in relation to last year. However, if I hadn't had these penalties above normal penalties, it would have captured 5, and that's why we have this project in the war room to stabilize these losses and win that battle. The revenue of e-commerce, international e-commerce grew by 14%, but in dollars it grew by 20%. These are subject to the same problems, post-pandemic questions compared to the peak of the pandemic. With this growth in the first quarter, and knowing the volatility of the Brazilian market and how it has good moments and bad moments, we've adopted a posture which is more austere and have not hold back our growing our expenses previously, to be prepared ClearSale more properly for growth. Less than 4% in relation to last quarter. Investing more and more going forward exactly in case we have a continuation of slower growth, with a more prolonged period. If this scenario changes, we will be able to increase our long-term investments, which is our original proposal. Our annual recurring revenue, what we added, our new sales in the first quarter—we already had for next year BRL 27.6 million, which is an increase of 5% above the last quarter of 2021. Our churn, annualized churn is doing better in this Q1. It's an improvement, but we only lost 0.7% of our base revenue. In annualized terms, compared to 2021 was 2.1% in the Q1. We continue to grow our commercial area, and it continues with indicators of lifetime value divided by cost of acquisition that are healthy. Of course, when you grow your sales force, there's a ramp-up for maturity, so this indicator tends to fall as the team gets trained and gets more engaged, and we hope to recover these, but while it's healthy, we have no reason to decelerate the company since we're always focused on long-term growth. Talking about net revenue, in e-commerce, in realized terms, we've gone down 4.5% impacted by penalties and discounts of chargebacks and returns, and guarantees, which were above the historical levels of ClearSale in the year in which we're operating. We could be growing 4.8% in e-commerce. Onboarding, we went from BRL 25 million in the Q1 to BRL 33 million in the Q1 of 2022. The growth of 34.5%. In international we have suffered these adjustments of the post-pandemic effects. In dollars, we grew 19% in dollars. In the total, we grew 7.6%. We had the potential to have captured 13.4%. It's important to remember and reinforce here that the growth of the onboarding comes from the number of new sales which we just had in 2020. We capture all of this since the beginning of the quarter. This 34% wasn't a result of the sales from this year or the increase of the base revenue from new contracts and services. Yes, a reflection of what we did last year. This incentivizes us to continue working on sales strongly on sales this year. We see we will receive the results of this in the following year. I think it's. That's why we think it's important to recognize all this. This slide here speaks a little bit about the potential for onboarding. Since the roadshow, we saw this was the potential for growth for ClearSale is a huge market. When we talk about onboarding, we're talking about the solicitations for new credit cards online or offline, credit accounts, CVC, personal loans, telecom postpaid telecom services, direct sales, vehicle financing. All of this is in the cloud in Brazil, and if we compare this, the breakdown of this with new sales, with the breakdown from current revenue, we have a notion of where is the future of ClearSale. If I have 32% of new income from onboarding today, plus 66% of my sales comes from onboarding, this converges in the future with an onboarding per app being the new vertical at least until the international unit has a bigger ramp up than it has so far. The international, the indicators of revenue, here we have the part of where ClearSale has the maximum influence. What can ClearSale do better? We can bring recurring revenue, increase our client base, and reduce our churn. We've grown our base of new sales. We have performance less than... lower than the first quarter of last year, but these things are very, very much occasioned by the closing of one large contract. On the other side, compared to the last quarter of last year, we grew by 5% with the stack for onboarding, which almost doubled. We had new sales multiplied by 2. We increased by 40% our quantity of clients. The studies of how is how to better monetize this and take better advantage of this base. In terms of churn, which is the biggest proposal of ClearSale, we are still below the indicator for this quarter, which was spectacularly low. 0.7% of churn annualized means that a client, if we do the first account, will stay with ClearSale for theoretically for 143 years. Our indicators of lifetime value for these, for the commercial things, for hiring and firing, et cetera, we consider only five years of permanence with the company. We would like to be conservative just to generate sustainable growth, long-term sustainable growth. This here is what gives us tranquility, makes us comfortable because we know how to do what needs to be done, even though we're in a moment when the base revenue where we don't have much influence is not performing well. It's a moment in which, as we know, here in Brazil as well as things like the winter can come and go at any moment. Talking about expenses, EBITDA and margin, it's natural that when we invest to have growth, long-term growth, and be prepared for this growth, which helps us to grow at 86% and revenue due to the time doesn't come, then we have negative EBITDA, which is not 100% based on cash consumption, but it is negative EBITDA on this quarter. On this side, expenses and costs is being stabilized, which shows that we already are. We've already observed that the moment is difficult and we're decelerating. We're not gonna stop to start restructuring the company to gain new clients, but we're working on a rhythm that is more appropriate to the current economic context. At this moment and when the revenue doesn't come and things are negative, we've already mobilized in that direction, and we already included have the collection of data, and we have a balancing plan. Even though the numbers are a little bit more discreet, we see the growth in margin. This plan has several dimensions, and all of them have clear responsibilities for those actions which he will promote together with his team or with the entire company proactively. I'm gonna give you a few examples. For example, our head, our commercial head is the owner of the part of new revenue from the base. What does he have to do this year for this moment? Anticipation of revenue, upsell as much as possible cross-selling, make the alliances area take off and focus on the excellent moment for onboarding, the revision of contracts to stop having penalties depending on the context since the concept of risk has changed. Capture in our in the market prices, the new market prices since the systemic risk has increased the demand. The Flow will grow and the cost of each fraud increases. However, this also has more value. It's a cup that's half full, but it's a service that'll be more and more in demand. Another project is the control of margin. When we have a mindset more. We took our eyes off of things that we are taking a look at again to accelerate productivity projects. For example, this dialing system to check the efficiency, to authenticate more automatically with less human analysis via biometrics and WhatsApp. With this financial structuring and the arrival of Mafra, we're gonna have a more performance, profound success rate, which will help us to operate more correctly in the right places as the performance of the clients through the realization of fraud, even in this more difficult context which, it's not the first, not the second, not the fifth time that we've had problems with this. However, there's a delay in the resolution of these questions, and some of them we'll be able to resolve right now. There's the optimization of infrastructure. Because the current one is good and fast, but it's expensive. We have projects which were not necessarily on the radar. The introduction of Flow, which is our new system of architecture for data processing that gives us more velocity due to the new demands of the market. Revision of general expenses and administration and projects, which generate almost a new budget more in line with what we're seeing. Internationally, we'll also have its balancing plan, remembering that we still believe, and now that it's structured, and we expect this to grow. Talking about cash, we had a reduction of more than BRL 100 million of cash from the fourth quarter to the first quarter. Of this BRL 100 million, BRL 100 million were acquisitions. BRL 21 million were intangibles, investments in development of new features which will generate new revenue in the future. That will become ARR, MRR, and all of this will be receiving the fruit of these investments done in the past. We have BRL 13 million of mobilized, and with amortization of debt, we have BRL 13 million of net results, which is positive. It will not generate an additional expense, even though we had an EBITDA of. In fact, we only spent operationally BRL 21 million in investments. We had a total of approximately BRL 550 million. As a final message, first of all, I make it very clear that we're not satisfied with this first quarter. Negative EBITDA, low growth. We have things that explain that, but it's not something that makes us happy. On the other hand, this same conjunction brings us to positive things as well in relation to what we see for the future. The increase of systemic risk, at the same time that it makes our base revenue be compressed by discounts and fraud, et cetera, it also makes ClearSale become more and more necessary. If the clients had lost their confidence in ClearSale, we would have impact on churn. However, our churn is still lower than last year. It reinforces the aggregate value that ClearSale has, the added value that ClearSale has. Because as the systemic risk grows, it shows the need to have more and more need to work with specialists. When we'd make tests in the past with prospects, it always showed an increase in the amount of approvals and a reduction in the number of frauds when they work with ClearSale, which demonstrates that this is an opportunity. We'd also like to mention that we have a track record. We grow every year consecutively since 2007, and with generation of cash. We're building this track record, and now as a listed company, now with more and more sharing of results as you'll see in the future. We have capacity to react. We know how to. We've been through crisis before. We've had crises of costs and expenses, which we resolved. We've already been through a year when I took over the company, when the EBITDA was about BRL 15 million, we closed with BRL 45 million positive at the end of the year. At the same way, when I felt that the IPO was going to come out, I changed the direction for a high growth and acceleration in detriment to margin. We found a way to pull back that needle a little bit to a more balanced level. We're going to seek sustainability, to be more austere in the construction of ClearSale of the future without taking advantage of the opportunities for growth. We have lots of opportunities for growth, and the company wants to take advantage of this difficult phase, especially in the onboarding of application and to gain market share, and then B2B suppliers, it becomes difficult later. We'll add those to our base. It won't be because of one bad quarter or one bad moment, it wouldn't be reasonable to think about decelerating the company above the level that we already have. Our commercial indicators, LTV to CAC, shows that we have a capacity for growth which is healthy with a relatively fast payback. Since to sell, if we only invest in sales, have to invest in after the sale and pre-sale and customer service and in delivery, it's as if it was working capital. The cost comes up front, and the results come later. We know that the results are coming later. With all of that, we close this quarter, which we're not happy with, but with operational indicators and everything that we control in-house under control, performing well. The rate of churn, which is the most important vote of confidence, doing very well. A capacity for long-term sustainable growth, which has always been our goal, totally viable. With that, I wanna thank you all for your attention. Thank you for the presentation. We're now going to start our question and answers. Oh, no sound. Same sound. So that I can identify here. Okay? Click on your Q&A button, and if you have a question, please send your name and the name of your company so that we can identify you here and your cell phone and pass along to our executives. Okay? We already have several questions here from Ernesto from Bank of America, who says, "My first question is about can you tell me how the investments would help you to have stronger growth of revenue and detail your expectations for growth for each segment in Brazil and the international operation as well?" I'm sorry, we're not getting any audio. I'm sorry. It seems that we had a little problem with our audio. Thank you for the question, Ernesto. There's a series of things that these investments will bring to us in the future. Many of them we've been speaking about since the roadshow, since the IPO. Some things that sustain us. These investments, a good part of them are for the developers to accelerate our roadmap of products. We have the vision to have an onboarding process and applications, the most frictionless process in the market. We wanna promote the invisible authentication. It's just not possible to be authenticated without being noticed, not knowing that you're being authenticated, but with the least possible friction. Only maybe just sending an SMS, which we know works. We want you to know it's already under construction. With all of this investment, all of the modules necessary for the onboarding product, for example, biometrics. We want to integrate with the best supplier in the market. Documentoscopia, we have a client in production already. The construction of these components is a basic pillar of the investments that we're doing. It's important to remember that a good part of these investments, accounting-wise are discounted as expenses. When you see this compression of a gross margin and so forth, part of that is investment for the future. With that, we accelerate our revenue with onboarding. We have another avenue, a subsector which we invested in quite a bit, which has given results above the expected results, which is the avenue of credit. We have a credit score operation based on digital consumers. ClearSale is the company that has the best knowledge of digital consumers in Brazil. The more we know these consumers, the more transactions enter into ClearSale, the bigger the possibility of having the accuracy of this data. I wanted to say that it also is worth it. With that, I demonstrate that these are things that are not worth decelerating. However, we compress indicators, and it looks like that the company is not heading in the right direction, but not necessarily so. I also wanted to mention that investment is not only for the generation of future revenue. Beyond that, I'm sorry I didn't mention, but we have an investment which we're making in international revenue. ClearSale is one of the very few companies that resolves fraud in countries, very risky countries such as Brazil and Mexico. We continue with more structuring, betting on these markets. Also in our area of operational innovation, which already has two products in scale-up. One is the anti-phishing, which has been sold to large brands such as Mercado Libre itself. The other one is Business Trust, which is when one company frauds another company. When a seller goes into a marketplace and he doesn't even exist, he's in there only to promote a fraud. All of this is an investment which starts to generate revenue, but it's still difficult. I want to remember that not only with the growth of revenue do we make investment. A good part of our investment is to gain efficiency, gain gross margin in the future. How all this works is cash flow. You spend up front, you develop a process or a component, create an environment, a scalable environment in IT, and then afterwards the gains come, the revenue comes. As I said, we're preparing for the future, and the returns will come in the most varied ways possible. Following along with our questions, in relation to the costs and with the EBITDA coming back to two digits. How do you plan to arrive at the numbers of 40%, the combination of growth between margin and EBITDA that you're expecting? As far as this question, I think are two words: sustainability and austerity. The incentives of our executives and professionals are based on the Rule of 40 in Brazil, because what we understand in ClearSale as a company that knew how to grow and generate cash, knew how to generate other initiatives that and generate cash and invest in other companies which would generate cash in the future. ClearSale Brazil is the financier, and it has a healthy Rule of 40 here. It's not sure if we're gonna reach it or not in the fourth quarter. We're not sure. We're not giving any guidance in this moment about that. When we see the growth, we have a balancing plan, and a deceleration of the costs and expenses in relation to last quarter. We're concerned with austerity, and we're gonna focus always on the sustainability of our long-term growth. Also, just to add, this is Alexandre Mafra speaking. It's very good to be here with you today. Our principal agenda in ClearSale is the balancing plan. This alignment of the growth, the pace of growth and margin and seeking better efficiency in the company is today our principal agenda and our principal focus. We have a question from Santander. It says, "Can you explain to me a little bit about the increase in the rates of fraud? What has changed in relation to previous years and the rates of fraud?" First of all, we had, together with the pandemic, a digitalization of the economy. We've never sold much online, never purchased so much online. Aligned with that, many stores, closed stores developed salespeople who were middlemen, intermediaries. They started to offer products via WhatsApp to clients through their sales force, which were stopped during the lockdown. This is always a risk. When you insert an intermediary, it always increases the possibility of fraud. Many people during the lockdown also learned how to digitalize their crime as well. Crime that was done on the street started to be having to be done online through frauds. Now that we have a stabilization of the number of orders, however, a growth in the amount of fraud, this is just. There are a lot of new things happening, people being drawn in to how to get around these anti-fraud effects, all this is being solved by a team of specialists, the best in ClearSale's teams. This may be these perhaps are the best anti-fraud specialists operating in Brazil at the moment working on this problem. Very well. We have a question from Carlos. What made your gross costs go up year-over-year? Do you see this pressure in the next quarters, or is it the next quarters? How should I model that? How will you apply your cash and talk about the pipeline of acquisitions? Thank you for the question. As far as costs, as I said, accounting wise, much of this cost in reality are developers who are building the future of ClearSale, building new components, new products of efficiency. However, the accounting principles does not allow us to put it all as CapEx. This messes up a little bit the increase of our costs. Many of these costs from the point of view of the way of thinking should be classified as investments in the future. There's part that has to be classified as costs. We initiated with the balancing plan, the austerity plan, as you saw at the beginning of the presentation. We started the austerity project. We stabilized our costs and expenses, but we also are not going to make cuts or decelerate the company because we know that there's a future for this company, 'cause there's a run after market share in several of the segments in which we operate. Yes, we don't wanna. The costs should not continue to grow at this same rate. However, we will grow, but due to this balancing plan, however. Again, we're not going to make cuts that threaten our sustainable growth, which is what we've always been promising to do. As far as applying our cash, the use of our cash, beyond the investment in acceleration of new products, which was always part of the proceeds which we offered, suggested during the roadshow. We also have opportunities for acquisitions connected with open innovation, small companies, opportunities of acquisition due to international. We can have. Since they're not yet decided, I'm not gonna be commenting here today. As soon as we have more information, we'll share that. We can make a disclosure to the market. Just to add, defined, it's defined by long-term and medium term. These will be the last things that the company looks at. We have a large capacity of growth. We're at a very special moment where we're gonna use our cash in the best possible way to capture all of the opportunities that we see, with the good opportunities which we see before us. [inaudible], he says, "The M&As are happening with lower multiples. Since you have cash, do you think this is an opportunity to take advantage of these lower multiples?" Thank you for the question, Flávio. Yes, there are several news going around, there's some news going around that finally the private technology companies are accompanying the multiples of the public companies, but the truth is that this has not yet happened 100%. Making acquisitions at higher multiples rather than what ClearSale is being sold might not be interesting at this moment unless in part of a thesis of an opportunity, et cetera. However, in my opinion, these multiples will fall more due to the interest rates in Brazil, global interest rates, and people are gonna be pulling more money out of private equity funds and going to tech funds and allocate it for fixed income and so forth. These companies, technology companies, are programmed to generate cash from here five years. You have to discount in your, at a current interest rate, so these companies are not worth anything. Yes, they tend to lose in their valuations. For me, there is cash, we have a healthy cash, and an opportunity to not burn that cash and save it for opportunities in the future, as long as we have a very well-defined strategy of acquisitions. It seems like it's obvious, and we don't want to just go repeat the obvious, but there's this, we see this tendency, we think this tendency will continue in the future, and having a good cash will help us to take advantage of these good opportunities that show up. The eventual lack of liquidity in the market means that the companies start to seek strategic companies, and we understand that we have to look at strategic partnerships. With the cash that we have on hand, we're able to look at opportunities with the best possible at most advantaged terms, most advantageous terms. Thank you. Following, I have a question from Maximilian. He didn't mention what's the CapEx plan for the next quarters? Do you expect to be profitable in the next few quarters? The tendency, we believe unless the market gets worse than it is, we believe in a recovery both in EBITDA as well as how it's difficult to say the internal alignments. We're not opening how much we think we're gonna earn, at what level, but the expectation is for improvements if we look at the bottom line at the minimum point of where we are now. We have one last question.