Good morning, ladies and gentlemen. Welcome to the ClearSale conference, where we'll discuss the results of the third quarter and the first nine months of 2022. All the participants are connected as listeners. Later on, we will open the session of questions and answers, where we'll give you instructions to participate. The video presentation is being transmitted simultaneously via internet via webcast, and the recording will be available on the IR site of the company at this address. Presentation of the slides will also be available on the investor relations site and on the CVM site. Before continuing, I'd like to mention that any declarations that may be made during this conference relative to prospects of business of the company are projections based on the current expectations of the management. These expectations are subject to changes due to macroeconomic conditions, regulatory market risks, and other factors. It's worth remembering that future considerations are not guarantees of performance. They involve risks, uncertainties, and premises, for they refer to future events and therefore circumstances that may or may not occur. The economic conditions in general, industrial conditions, and other operational factors may affect the future operating results of the company and may differ materially from those expressed as future considerations. With us today is Dr. Bernardo Carvalho Lustosa, CEO, Director, Eduardo Mônaco, Director, Alexandre Mafra, CFO, and Renan Ikemoto, Director of Investor Relations. Initially, Dr. Bernardo and Mônaco will make comments about the strategic highlights, operational highlights, and afterwards, Mafra will talk about the results of ClearSale. After that, we'll all be available together with Renan to answer any questions that may come to us. I would like to now pass it over to Dr. Bernardo. Bernardo, please go ahead. Good evening, good morning to everyone. I'm Bernardo Lustosa, CEO of ClearSale, and it's a huge pleasure to present our results to you for the first quarter of 2022 of our company. It's a huge pleasure to begin with as the first highlights, we wanted to mention that we understand that the balancing plan, the equilibrium plan, is already a conquest, an excellent conquest of ClearSale. Remembering that a little bit that the balancing plan, the equilibrium plan, when we decided to balance growth with margins due to the conjunctural changes, economic changes in economic conjuncture, we changed from a mindset of pure growth to a combination of growth and margin. And we've had an important consistent improvement in the indicators, principally in gross margin, but also EBITDA margin and even generation of operating cash, as you will see as we go forward. Remembering that this balancing plan is alive. You will see several actions that we have taken, which we continue to do and which will generate results not only in this quarter, but also as we move forward, so to speak. There are efficiency gains in productivity and more technological changes. So we're very proud for having arrived here, remembering that in the past quarter, we had started the balance plan, and now we already have an entire quarter with the first results of this being captured. When we feel that the company is on the tracks again and the sense of sensation of having a job well done, everything's stabilized, all the processes underway, and with a balancing plan underfoot going ahead at full steam, which is being executed by Eduardo Mônaco, the COO of the company, we feel very comfortable to take steps in the succession plan of the company. Maybe some of you have already observed yesterday a material fact with the CEO of the company, Eduardo Mônaco, was promoted to the President of the company and will operate together with the CFO of the company, Alexandre Mafra. The two will report directly to me. I will continue being the CEO of the company, and for me, to me answers will answer Eduardo Mônaco, the President, Alexandre Mafra, CFO, and Eduardo Mônaco will then take care of all the areas of the company that are not the financial questions. I wanted to congratulate Eduardo here for this in this moment of distribution of information. It will show us that we have much more time to act in strategic areas because the day-to-day operations of the company takes a lot from the CEO, and now with this change, it will free me up for an important activity for ClearSale and also an agenda which will be more outside to have more contact with investors, but also in events, attention to the market, and the very important things for the continuity of the company. When we speak about succession, everything will be done calmly and at the right time and respecting the capacity and the skills that have been acquired by each professional. Another very positive fact is that we have been able to exchange our ERP. We are now 100% operating via SAP without any problems, and it's already at 100% in production. Another highlight is that ClearSale leaves the city of São Paulo, and our headquarters is now in Barueri. In terms of reforms in Alphaville, in Tamboré, it was much more aimed at shared spaces to be able to do workshops, encounters, et cetera, which is being included right now. The change of the headquarters has already happened. Following along, we also have our hedge program to guarantee stock options in the long term, long-term stock options. This program has already been 53% concluded in this quarter, already generating a gain of a hedge of BRL 400,000, and 89% of the program is concluded. An important notice which is very important for us due to our culture and the type of collaborators and coworkers that we have to work with here in ClearSale is that we are now for the sixth consecutive year on the list of Great Place to Work, which confirms that we never work just for that, but it's a consequence. Confirming that ClearSale, as a company, which is a Great Place to Work. We also have here Black Friday coming up, the biggest e-commerce event in Brazil. We'll have to process millions of requests per day, a gigantic quantity of orders per minute, which involves a great deal of scalability. We've been successful in all of the last years in terms of infrastructure and also in terms of fraud contention during this period. It has never been a problem for us to suffer with frauds during Black Friday, and we're more prepared than ever in terms of scalability and with fraud already under control, as you will also see in this presentation. So as highlights in the third quarter, we have an EBITDA which left from the negative area to an adjusted EBITDA of BRL 11.1 million, with a margin of 8.5% and an adjusted EBITDA in Brazil of BRL 19 million, which corresponds to 16.7%. That is the consolidated. In our vision, the consistent evolution of the results of the balancing plan implemented in Brazil as I had mentioned, and this EBITDA result has come much more from a very positive adjusted gross margin, 47.7%, 12% above the previous quarter and 4% above the same period last year. So if we compare this in terms pre-pandemic, we already have our gross margins in the same level or better than pre-pandemic levels. In nominal terms, it represents an increment of BRL 18 million compared to the previous quarter and demonstrates a growth of 42% in just one quarter of evolution and BRL 11 million compared to the same period last year. Corresponds to 21% growth in net revenue. In the total net revenue, we also grow. Even with all the difficulties observed in the market during our previous quarters, we had BRL 130 million in this quarter, growing 12% compared to the same period of the previous year. It's grown pushed by the revenue of e-commerce in Brazil of BRL 81 million, 18% above that same period of last year, and 11% above the last quarter. In the revenue of international e-commerce, BRL 16 million. We also grow 13% compared to the same period of last year in reais, because in dollars it signifies 12% growth. Part of this great growth in our gross margin has also come because we exchanged some components of fraud application which involve more human analysis for automatic components which we had already expected. The revenue from Application Fraud is BRL 33 million, almost in line with the revenue in the growth of last year. Our churn rate annualized in nine months, we have been able to get even closer or even better with 1.6%. Which is an excellent number, which is very difficult to do better. I'm gonna pass it along to Eduardo Mônaco, who'll talk about our conquests in terms of operational terms and tactical terms, how we obtain this gross margin growth and giving continuity to our balancing plan. I am Eduardo. Thank you, Bernardo. I'm Eduardo Mônaco. Today, I'm responsible for the innovation and product development, as well as the management and delivery of our product to our clients, to our final clients. I'm in ClearSale for three years, and I'm very excited about this opportunity. I'm very, very happy to take over this responsibility, and I'm very animated to be here with you today in this teleconference to be able to share our progress, the significant progress that we've made during this quarter. I wanted to start in this first chart to pass two messages to you. The first is that we control the fraud index in e-commerce, which has hurt us or hurt our results in recent quarters. We can see on this graph here, the index of chargebacks, which was almost what? A base of 100 in January of 2020 and reducing it consistently over the months, reaching pre-pandemic levels, which demonstrates that this indicator is absolutely under control at this time. The second major message is that all the collaboration that we've done through the innovation and technology for the improvement of gross margin, which you've already collected with a good part of the results in this quarter. The first thing that we see has come through the control of the chargeback. When we're able to control chargebacks, immediately after, we see an improvement in the index of approval, which generates more satisfaction for our clients and more efficiency for ClearSale. Because, it's only through data that we're able to approve more automatically. In this layer of data, we have made a significant evolution with our platform componentized, of Flow. For the first time, we're gonna run a Black Friday totally within Flow in an environment which is more scalable and more efficient, where all of our algorithms of AI will run. This preparation, which we've done for Black Friday, will also approximate us to have more agility in approximate rollouts and capture this efficiency that we are collecting on Black Friday, also in the future over the coming months. The second, major level of approval which we have comes through our technological components. I wanted to point out two important evolutions in this quarter. The first were some tests of biometric tests in sending these ClearSale components to some clients, specific clients, and being able to have results, very promising results. The second major point is the continuation of our rollout of WhatsApp. Today, we have more than 500 entities who are being benefited by the answers of a higher level of answers from their clients, getting to cases where more than 30% of improvement in the index of answers from clients. Therefore, a safer connection without friction and faster for our partners. At the end, finally, we continue evaluating our innovations in the approval levels through our operators, implementing specialized islands which increase the productivity, starting from the idea that an operator is able to operate more requests on these islands. The second point is that we continue, and we are advancing very, very quickly in the implementation of our project of automatic dialing, which brings much more efficiency to our operating team. All of this helps us greatly with the results in the short term, but more importantly than that, it makes part of a vision, a long-term vision for ClearSale, which has to do with our vision of our platform. This platform reinforces our differentials, and the first of them is our differential of data and the network effect. Today, we have the capacity to know the digital behavior of Brazilian consumers. We're the company that best knows because we have a data lake which has been built over the years in this digital environment since its beginning. We like to say that by the simple fact that we exist, this difference increases. We capture more than 120 million different data points every month of our clients. The second major part of this vision are technological components. We have grown greatly in recent years the quantity of technological components to deal with the ecosystem of risk management. Today, two-factor authentication through WhatsApp, biometric liveness, credits, anti-phishing, and many other documentoscopy and anti-phishing components. This gives us a complete technological part for risk management, which when manipulated by the best specialists in risk management that measure and operate in this risk management area, permits us to combine these components in a unique way, and therefore make it possible for ClearSale to be able to make its offering in different ways. We have important cases of clients whose only component, technical component in the one-stop of their process, which after this entry wind up doing upselling and other solutions of ClearSale. We also are able to offer packages of components which resolve a specific pain point of the market and also work with our model, our winning championship model, which brings all of the ClearSale expertise in risk management, principally for e-commerce. This is all part of a significant strategy of growth, which helps us to exploit new markets, new segments, regions, and/or use cases through this entire platform. We also have important cases which happened in this quarter, and I would like to point them out to you. The first of them is the entrance of a digital portfolio, which is very important for our segment, which entering our platform has benefited from the scale and efficiency of this environment. During the e-commerce crisis, we learned at the level of fraud, which is very difficult to identify and which today has attacked many segments. We have been able to resolve this standard or work heavily on this standard of e-commerce, which is the laranja, where a person through his true data opens an account and passes this account to a frauder, to a fraud user, a fraudster. For that fraudster to be able to commit frauds using the true data of a person whose identity has been stolen, it's a fraud that's very difficult to identify. ClearSale resolved this in e-commerce packaging, this product is offering for new markets. The third major product is links for payment, which is known in the market, and ClearSale has been very sought out and attended many clients in this segment, which shows our potential to enter into new channels. Beyond that, we have increased our penetration, adding new clients in biometrics and document analysis in production. We also have a platform of self-service for our clients. We have more than 50 clients which permit us and our clients to have an experience with us with less friction, much more self-service, and much more efficiency for ClearSale. I would now like to call Alexandre Mafra, our CFO, to tell you how all of this has translated into financial results for ClearSale. Mafra, please. Thank you, Mônaco. Thank you very much for your presence. It's with great satisfaction that we present the financial results for ClearSale. As Bernardo said at the beginning of our presentation, we have the muscle memory of a profitable company, and we know how to move this dial quickly and consistently, as we can see in this quarter. In this slide here, we have a consolidated vision of our revenue, which grows 12% in the third quarter and 10% in the cumulative. E-commerce in Brazil has shown a recovery, a seasonal recovery, growing 15.8% comparing third quarter 2022 with third quarter 2021. It's worth noting that, as Bernardo and Mônaco mentioned, we have resolved the problem of fraud attacks. The application of rollover, contract rollover, which for e-commerce international has shown annual growth of 25% in reais terms and 30% in dollars. Passing to the next slide number nine, let's look at the principal highlights of net revenue. Let's enter each unit, business unit. In Application Fraud, we had an accumulated revenue of BRL 100 million, a growth of 19.6% for the year, considering the first quarter, the third quarter of 2022. We had BRL 32.8 million, practically stable compared to the third quarter of 2021, due to the rollover of contracts focused on a higher margin. The improvement in the margin has also grown both in margin as well as in absolute terms, expanding by 48% in relation to the second quarter of 2022 and 20% in relation to the previous year. In Brazilian e-commerce. The seasonal recovery helped our online fraud in the third quarter to have a growth of 17.8%. The impact of fraud above revenue potential has reduced to 2.7% versus 8.4% in the previous quarter. As Mônaco mentioned, our rates of chargebacks are now normalized. Finally, in international commerce, we've had an accumulated revenue of BRL 45.6 million, a growth of 30% in dollars and 25% in reais. If we consider the quarter, the growth was 2.4% in dollars and 12.8% in reais. Going to slide number 10, we're going to talk about the operational indicators for our revenue. Here I represent our operating indicators, which continue with a solid performance. Our churn rate continues at levels that are very helpful, 1.6% representing a lifetime, a theoretical lifetime of 63 years. In clients, we've had a growth of 16,000 to 67,100, or in other words, a growth of 33% in a year. As we mentioned in the previous quarter, through the various alliances that we have, we now attend 100,000 unique entities. Our ARR has reached BRL 25 million in the third quarter and was impacted by the scenario, macroeconomic scenario of higher uncertainties and higher aversion to risk, which wind up postponing some sales. However, we have a strong pipeline, and we are confident about the recovery of ARR in the new sales, in relation to new sales. On slide 11, on expenses, recurring expenses, as Bernardo mentioned, we see the complete reflection of the equilibrium program, the balance program. We had one more quarter with an improvement, consistent improvement in costs and recurring expenses, with a reduction of 10% of BRL 3 million compared to the peak of BRL 43 million in the previous quarter. In other words, a reduction of 28% in relation to that quarter. This is a live, living program, and it continues to have an interesting seasonality in the fourth quarter. With Black Friday, we believe that the operational results will improve. On slide 12, we're gonna talk about our adjusted EBITDA. As a result of everything that we've done, we have reached a gross margin of 50.2% in Brazil and 47.7% in our consolidated, both at levels above the level observed in pre-IPO levels. As we mentioned several times, this improvement was expressed in absolute terms. Going from BRL 18 million in the quarter to BRL 11 million in the year. We reverted the negative EBITDA of recent quarters, and we have represented an adjusted EBITDA, positive EBITDA consolidated of BRL 11.1 million, an improvement of BRL 20 million in the quarter, representing an EBITDA margin of 8.5%. In Brazil, the adjusted EBITDA margin reaches 16.7%. Going to slide 13, we're gonna talk a little about our cash flow. The first point I would like to mention is the generation of cash in the quarter was BRL 6.2 million operational cash. We're gonna continue focusing on investment to maintain the sustainability of our business, which was BRL 21 million. This investment is extremely necessary for us to do all of the technological advances that you're seeing and the improvement of our operational results. Finally, we've had several debt amortizations with a program of BRL 13 million. We'll continue with great discipline, seeking a operational cash generation and being very diligent in our investment to guarantee the sustainability of the company. I'd like to pass it back over to Bernardo to make his final comments. Thank you, Mafra. Going to the final messages, we can see on this graph here that even in a period where we have seen some recovery of the macroeconomic moment, but it still is not influencing so much in the evolution of the discretionary consumption. This marks the year in which since the first half of the year, we have perceived that there would not be growth, elevated growth in revenue. Nonetheless, in the last block, we see that the company has a muscle memory, and it's a company that always grown with the generation of cash, in-house cash. Once we see a difficulty of growth with revenue, resulting in the first quarter and a weaker first quarter, we were able to quickly adjust our sales and get the company back into levels of profitability comparable with that which we've had during the periods of high growth. We are summarizing a wrap-up of this quarter. We continue with solid indicators, opportunity indicators and growing indicators, which shows the results of our balancing plan and evolution of what we have seen coming due to a series of actions which were demonstrated during the presentation. We continue to focus on investments to make the company more and more technological and explore new avenues of growth beyond our current avenues through differentials which are unique for our company. These differentials are data. Remembering that ClearSale receives more than 120 million transactions every month and knows how to work with this network effect of this data, both by cross-merchant and in e-commerce, as well as across industry, crossing the data of the e-commerces with the financial system data and telecom companies for authentication or risk analysis. Together with that, we have a technological platform which is unique and a team of specialists which can resolve any type of fraud in any industry. Having products which go from isolated components to packages of components and resolving the problem that our team of specialists, this places us in contact with the problem of diverse industries and helps us to develop components which are better and better to attack types of fraud which are different, such as these, false individual fraud, the laranja frauds. Resolving fraud in Brazil, this also makes us able to resolve frauds in countries with lower risk, these are investments which we are currently making. As far as the problem of attacking fraud, which is generalized in Brazil, the financial system completely is concerned with this. In ClearSale, we have already gotten around this problem, bringing the level of fraud to levels that are historically low and compatible with the pre-pandemic period and the period of stability, historic stability that ClearSale has always presented. Speaking about financial results, we continue capturing all the opportunities of efficiency. We have a gross margin to the pre-IPO levels just in this quarter, 12% of evolution in this quarter. Part of that comes from the rollover of contracts of fraud applications based on revenues, with lower margin for products that offer more technology and have less revenue but higher margins. All of this together with a reduction of costs and expenses of BRL 13 million in the quarter and BRL 43 million in relation to the last quarter of the previous year, resulting in an EBITDA which was negative becoming positive, both in Brazil as well as in consolidated figures. It's the first quarter in which we have seen the generation of cash, operational cash, a positive operational cash. Together with that, we, as we always talk about our muscle memory, because we understand that the company is already financially on the track for growth with a balancing plan working well at full steam. We can then have confidence to work with the process of reorganization, looking at succession plan, which I want to do with great tranquility so that we have the guarantee of the operational excellence, and also have more concern also in myself with the strategic part and external concerns of the company. With that, I thank you all, and we will now go to questions and answers. Thank you. Thank you for your presentations. We'll now begin the question and answer session for investors and analysts. It was a chat located on the left-hand side of your screen. Please send your questions through that channel. If possible, place your name and first and last name and the name and company so that we can identify you at the moment of the question. I'm gonna start now. I have a question from Thiago Kapulskis from Itaú BBA. Congratulations on your results. Can you give us a little more detail about the initiative for margin improvement, especially the war room, and what initiatives you have set up to mitigate the risks and risky situations, risk similar to the beginning of the year? Beyond that, can you talk a little bit about your strategy? Is any of the strategy changes with the changes in management? As far as the details of the project of improving margin, The market has always asked for growth. You've always asked, and we have presented that since 2007 consecutively, generating cash in-house, and we now have the mindset of accelerating that at the time of the IPO. We perceived that the economic moment was difficult. Let's see, with the growth that the growth has not come quickly from our sales in the e-commerce. We've aimed at better margins and change the mindset of the company, dividing the projects. Of course, we maintain our DNA for growth, but also creating various projects for the conquest of efficiency, reduction of costs and expenses in this project. As far as the risks for fraud, there's no fraud. Since the first time that the market is having a fraud crisis, ClearSale has already been through this many times in history in our history. In all of the fraud crises, as we always have, worked with the model of a third-party management system. We work through the, as a user performance fee. We're already always committed with the results of our clients. We have to resolve the problem of fraud yes or yes. We have. It just there's no choice. In our war room, we get the principal specialists of the company that were focused on growth projects, direct some of them to make a restructuring, and we are then able to get back to the fraud indexes to the historical levels of ClearSale, anticipating the types of fraud which are new in the market, those which have appeared in this, such as these are, these false personality fraud, stolen identity fraud. This is the history, and ClearSale was always the first company to be able to resolve these new standards of fraud. We are operating at levels that are historically as low as we have always been able to maintain historically and maintaining our system and solve it with our components or combinations of our components of these types of fraud in other industries and other markets. Thank you, Bernardo. We have one more question here from Brian Daniel, private investor. The expectation of cost of goods for the fourth quarter will be in line with the third quarter? In terms of expenses, we don't have any reason to have an increase. Eventually, we may have a reduction, but it will be in line. However, due to the seasonality, since the fourth quarter is very strong, its sales in the e-commerce world, not only in e-commerce, but the entire market does Black Friday. The economic activity is very high. We expect that there will be a higher level of revenue, but we also have a little bit of variable costs. The variable cost could hit the COGS, raise the COGS a bit, our cost of goods, but they're always accompanying revenue. Increases in expenses, we do not foresee anything significant. Let me just step one back in relation to the second part of Thiago's questions. I was just looking at it. He asked also if anything will change in our strategy of execution. Effectively, no. The strategy, nothing changes. I think the point is that we're gonna gain more strength in the execution with this division between Bernardo and Mônaco. Excuse me, I skipped that part of your question. As Mafra said, nothing changes in the strategy of the company. What changes is that we're gonna better execute both verticals. It, as I mentioned in the opening, the day-to-day of the company consumes a tremendous amount of our time, the CEO's time. To be able to divide this and focus more on strategy and observing more tendencies in the market and observing technology. Eduardo, who for me is one of the best executives that I've ever met, will run the day-to-day of the company together with Mafra, who is also one of the best financial leaders that I know. Eduardo, if you have anything you'd like to add with your activities, your plans to stay on track? Thank you very much. I think that we have a tremendous potential to do all of the translation that we've done in ClearSale through technology in recent years. We have a lot of concrete results in this quarter through the equilibrium plan. After that, we have lots of technology and efficiency on board. These are our differentials. We think we have a very big differential of data which grows and strengthens us, and we have a huge potential of a platform of technological components, more and more componentized, more modular. As we can prove with every challenge that we face, it's very unique and has been able to resolve any type of problem or risk that we encounter. A relevant part of this is that we're able with that to address more and more the new offerings of the market, whether it be through by or packaging the offering or the fraud, the false identity frauds or the crisis of chargebacks that we have been able to capture through our algorithms and our expertise in the e-commerce process. Today, it's been a huge problem for other segments, and we're packaging all of this together as an offering for the market to be able to address other markets. I think a major benefit of this model which we will live now is that we're able to internally have more synergies, how to package this product, how to bring it to the market in an efficient and effectively so that we can open new markets in the segment. With that, then we thank for this opportunity that is trying to have this internal synergy at the same time that we use all of the capacity of Bernardo to show us interesting routes forward and important theses for future growth, which will bring us better results, more results in the medium to long term. Thank you. I'm gonna make a pause of one minute, so you can continue making any questions. Remembering that we have a chat on the left-hand side. Please use that tool to send your questions, and if possible, put your name, first and last name and company so that we can answer your question, identify. In one more minute, we'll continue with these questions. I'm gonna take advantage of another question that's here from. Excuse me if I didn't pronounce your name correctly. From Santander Bank, Arnon Shirazi. Analyzing results of this quarter, ClearSale has come back to generating cash. Should we expect this in the coming quarters, or this is something specific for the third quarter? Thank you. Hello, this is Alexandre Mafra. Thank you for your question. I think that we, as we mentioned several times, ClearSale is a company which historically has already grown through its own cash. We have this muscle memory. Looking forward, we are seeing that it's a company that's healthy and generating cash-generating company. I think in this aspect, this positive result of cash in the third quarter is nothing more than a reflection of our results overall. Our expectation going forward is that this operating cash, the company will return to being a cash-generating company, and then we'll have the tranquility to return to this level of operation which we've always had in the past. Following along, we have a question from Andrew from Diversified. In relation to do we see a recovery with the tendency for improvements, however this happened the fall. How was in October? What's the expectation for the rest of the year? As we're looking at In August, we have a slight increase in chargebacks, and we have to compare this fraud with the approval that's a little bit lower. This does not mean in any way a tendency. It's an adjustment of management according to the indicators. The approval cannot grow indefinitely. Otherwise, we're gonna wind up approving fraudulent transactions. This is a natural part of our management. We can't talk about October due to compliance factors, but I don't see here anything that's of concern beyond a natural oscillation and with a slight increase of frauds that we had in the previous month. Very well. Following along, we have one from Bernardo, an individual investor. What's the level of top-line growth that you're estimating for the fourth quarter of this year? Hello, Bernardo. My partner and namesake. We can't give any guidance, but we can talk about the fourth quarter. It's the strongest in the economy in terms of the conjuncture, in terms of consumption due to Black Friday, which this year we still have the World Cup as well. Historically, which also historically pushes the retailing and all the financial market which we're very strongly involved in. We're more and more connected with the financial market in revenue shares. It also promotes various actions of loans, interest rate adjustments, extension of credit card limits, solutions which were very present in the environment of Application Fraud. We expect beyond this seasonality, a little bit of an extra due to the World Cup without giving any specific guidance. Thank you, Bernardo. We're gonna wait one more minute to collect any other questions. Remembering that in your screen on the lower left-hand corner, please send your questions there, if possible, with your name and the name of your company so that we can identify you at the moment of that question. Thank you for your as you type your questions. We have here one more question from Thiago Kapulskis from Itaú BBA. Itaú BBA. He sent one more question. I covered cybersecurity in security in the U.S., and I've seen a greater level of sophistication of the attacks as well as the growth in the numbers. Well, how does your product deal with frauds, and how do you mitigate risks of this nature, and how does it, how is it affected by your product? Thank you for your question. We'd love to answer this question because every time the number of fraud increases, we believe that ClearSale is able to show its competitive differential. We've seen this during the crisis. The problem of fraud in Brazil continues very intense. Even so, we've been able to reduce the volume of fraud which exists, and we've been able to resolve this through very clear factors. Number one, we have the biggest data bank, digital data bank in Brazil, and we know in fact the behavior of Brazilian consumers. This data bank only grows as a multi-market and multi-client, and multi-industry, multi-segment. Second point is that our base of technological component, which is very diverse and wide-ranging, which puts in that cake components such as two-factor authentication via WhatsApp, biometrics, liveness, document analysis. We have a product talking about cybersecurity, anti-phishing, which was born in our labs and Bernardo will be dedicating to this, which is already a success, has a large number of clients, a significant number of clients to pick up clients' problems of phishing, which is very much predominant in Brazil. We have many technological components and a park, a one-stop shop of solutions, which is more and more componentized, to help our specialists who have already shown this during the crisis, who can combine them and put them together in an absolutely efficient way to resolve each one of these problems. We agree with you, Thiago. The volume of attacks has increased, which hits the market, and we believe that at this moment where the ClearSale differential appears, and I would like to highlight it, even at the moment when we had an increase in chargebacks, we are commemorating our lowest level of churn in recent years, which demonstrates it's a challenging moment. We have the confidence of the market to continue resolving each one of these standards, which will continue to happen because the fraud is dynamic and there's no point wanting to solve fraud with just one component. Or one bit of information. We solve fraud through context and with a complement of solutions. ClearSale, with the investment we've done in recent years, is more and more prepared to resolve this type of problem going forward. To add on, I like Eduardo's last mention, his last mentions here. The market always looks for a silver bullet, a technological solution which will solve everything. Let's look, for example, at biometrics. We already had various standards of fraud which biometrics by itself does not catch, which also has a biometric component. For example, the false identity fraud, the laranja fraud, in the financial market they can use the authentic biometric authentication, and it shows that it is the person who says it is, and he'll get paid for that, and he accepts that payment to lend its face and its identity so that it can open up an account in their name. This has resolved because we don't use a one component. We have a suite of components which is able to resolve this identity theft fraud. That's a very important component. Thank you, guys. Find a question, one from Orestes Romeiro from FW Capital. He says, "Congratulations on your results. We've seen that the balancing plan is very well executed. What's the next step?" This plan is a living entity. It's not that it wouldn't, it was well executed. It is being well executed. We still have efficiency gains to be captured, and not just gains for the next quarter or the. We have gains, perennial gains, efficiency gains. We exchange components. Some components with high revenue but low margin for components which will have a higher margin, even though lower revenue. We're still in a phase of rollout of, for all of our clients, so this efficiency gain will come. Just to give you an idea, this plan is not over. It's alive and will bring much more, many more results. What can we expect? This transition will help us because there's lots of theses to be explored. With Eduardo here running the day-to-day operation of the company, I can dedicate more myself to my passion, which is strategy and innovation, and explore these new theses. For example, ClearSale, since we know the behavior of digital behavior of consumers, we have a whole lot of information which is useful for the credit, which no one else in the market knows. We can make a lot of advances in that vertical. For example, cybersecurity, as Eduardo mentioned, anti-phishing, among other problems that need to be resolved, health insurance, vehicle rental, all of this can be exploited using our components, which are very well adjusted and can resolve. We're gonna start going into the balancing plan for the new theses of. It's also important, as you said, we're in the process of strategic planning for next year, where we understand that an important part of ClearSale has, as its nature, an important part of our revenue comes from the base. Next year is a year in which we'll be comparing bananas with bananas, whereas this year we started off comparing a pandemic year with a non-pandemic year. Next year, we're gonna be able to compare into a more fair comparison. All the planning that we're doing now is with the objective of unlocking value in all of the investments which we've already made to capture growth in the medium to longer term. Thank you, ladies and gentlemen, for your answers. We have one more question. Pedro Martins from Ace Capital. "Congratulations on your results. Can you give me a little color about the strategy for growth in 2023, and what can we expect in terms of revenue?" As we have a strategy, a go-to-market strategy which is already in the final phase. We have two lines of growth in the existing avenues of growth, which are in the fraud, the non-present fraud. We have a dominance, a large, high level of dominance in the online retailing, those e-commerces who have physical delivery. We also have in other segments which we still have a lot of upside to capture, such as airline tickets, digital content, and other e-commerces that are areas of high growth and ClearSale can grow. In Application Fraud, once we're able to, with these projects of componentization, we can sell them individually. Many times when institutions are very large, they prefer to orchestrate this themselves in-house, and we can contribute to that. The major components for those who would like to construct their own fraud models are coming from very, very high levels of profitability. Beyond that, we have the avenues of growth, some of which are ARR, future revenue, and some of them can be tested in 2023. To respect everybody's timing, we're gonna close our questions and answers. I'd like to pass the microphone back over to our executives and directors for their final considerations. I wanted to thank you all. We love talking about ClearSale. For me, we'd talk more, but I know that everybody has hundreds of other earnings calls to listen to. We're gonna try and finalize this here. Does anybody have anything else they'd like to mention? If nobody has anything else to say, we thank you for your attention, and we're very, very happy with the results that we have to present here today. We're going to thank you and say that I am completely at your service to get to know you better in these next weeks. Thank you for your time. Thank you all. Until the next quarter. That's it then. The earnings call is closed. Have a great day. We thank you for your participation, and until the next time.