Welcome to the ClearSale conference, where we'll discuss the results of the fourth quarter of 2022 and the year of 2022. All the participants are connected as listeners, and later on we will open the question and answer session when we'll give you instructions about how to participate. The video and the presentation are being transmitted simultaneously via the internet via webcast, and the recording will be available on the website of the IR of the company and ClearSale. The presentation slides will also be available on the site of the CVM. Before going forward, we would like to clarify that any declarations that may be made during the conference relative to perspectives of the company's business based on current expectations of the management, these expectations are subject to changes and due to microeconomic conditions, risks and market risks and other factors. Future considerations are not guarantees of performance. They involve risks and uncertainties and premises, and they refer to future events which depend on circumstances which may or may not occur. Economic conditions in the industry and other operational factors may affect the future results of the company and may differ materially from those expressed here relating to future occurrences. With us today are Bernardo Carvalho Lustos a, the Director and Chief Executive Officer, Eduardo Monaco, Director of Operations, Alison Mafra, Financial Director and Chief Financial Officer, and Renan Kamoto, Director of Investor Relations. Bernardo and Monaco will speak about the highlights of the strategic operational period, and following that, Mr. Mafra will talk about the financial results of ClearSale. After that, we'll be available together with Renan to answer any questions which you may have today. I would like to pass it over to Dr. Bernardo. Bernardo, please go ahead. Good morning, everyone. It's a pleasure to present the results for the fourth quarter of 2022 of ClearSale, a year that was very important to consolidate the success of our balancing plan, which was begun in the beginning of this of the quarter, and the capacity of reaction to the market and the macroeconomic fraud attacks which there has, and the muscle memory for growth, generation of profitability. In this quarter, we've been consolidating and repeating this capacity to balance growth and margin in light of the macroeconomy, which knows only requests. We have growth and profitability quarter after quarter since the beginning of the year, which was a very, very difficult year, which demonstrates also that the plan is not just a one-time plan, something that was done with layoffs or anything like that. Yes, a change in mindset together with a group of structural projects in all the company which has having effects quarter after quarter and has everything continue offering results over time since these are structural changes and since these results you will see as we go forward. Talking about this year and contextualizing, it was a difficult year. We started the first quarter with our Chief Financial Officer, Mafra, who's going to speak in a minute. The perfect storm with the macroeconomy deteriorated quickly, had high inflation and especially concentrated basic items, unemployment, personal indebtedness, family indebtedness, and post-pandemic less contribution of earning power, which affected discretionary spending. Remembering that for those who are not accompanying ClearSale for a long time, this affects much more the online sales as the consumers return to come back to physical retailers. It is good news that the pandemic is over, but this affects the growth that Ecommerce has been having, and is still a line of revenue very important for ClearSale. These two points affected quite a bit the level of activity of the market, and as we mentioned. In the second quarter, we set up a balance plan, which I just mentioned, which looks at trying to balance growth with profitability. Also before that, we had also had, during the pandemic, an increase in systemic risk, fraud risk, which was completely resolved during the year. Going back to the results of the fourth quarter, we've had a historic record of ClearSale in this quarter. It was the best quarter of 2022 in terms of growth of net revenue. You will see that we still opened within this quarter the evolution, which has been bettering through our growth. It shows that we also grew with profitability but also increased the growth of both things and not killing one off in rich of the other. We had a record of new sales accumulating the annual recurring revenue during the full year. In the fourth quarter, it was the best quarter of sales in the history of Ecommerce in Brazil and internationally, and the second best in the applications front. Our new sales reflect our investment in the development and componentization. What does that mean? It means that with the creation of components, which Eduardo is going to talk about in a minute, the isolated sale of components, The flow system project and bringing the new payment method, new segments, and then cross-selling and upselling in the clients in our base. The process which is underway and will give us a great deal of new fruit going forward. We also have the solid indications, indicators with the number of new clients, more than 911 over the last quarter, and a level of churn, a historical level of 1.4%. We also have expansion of our gross margin since the first quarter until the first quarter, beginning with BRL 17.1 million in the first quarter to BRL 78.8 million in the fourth quarter. Means an increase of BRL 61 million in gross margin, which annualized will give us BRL 244 million. The EBITDA margin went from less than 46.8% in the first quarter when we had all this change started to 8.7% in the fourth quarter, saying that if we look at the margin in Brazil, which is a generator, cash generator, which should be the cash generator for the new investments which we are betting on internationally, this EBITDA margin in Brazil is 20.9% in this last quarter. It's also important to say that we did all of that without our vision for the future and our focus on long-term growth. Second point that I would like to point out is that at the same time we have revolutionized the way to do business and our corporate structure to maximize the generation of value in the medium to long term. How do we do that? We increased our portfolio into the various technological components, and we have a platform which is componentized, which actualizes, which makes it easier for us to grow and sell through our offerings, which go from the unique one component up to a component of combination components which ClearSale knows historically and knows how to solve fraud or all of the frauds of a certain segment. We never stopped to be together with our clients. We have the confidence of our clients, and many of them are still continuing to opting for our traditional complete management or shared management with risk management. Together with that, we remodeled all of the organizational structure of the business units, permitting us to have growth with profitability and focus on the client beyond giving more autonomy of decisions to each business unit. We have three business units, but going over them quickly: ecommerce, application fraud, and new business, which we call New Ventures. With that, we are able to have ClearSale totally structured in the future, all ready to go without having any expectation of increasing expenses for this purpose. Our new sales in the last quarter were record, and we went into new payments segments, and it demonstrates the return on investments which we made principally in the developing the component population of the segments. Also, at the same time, brings more margin, more gross margin than the products which are in a human analysis. To explain better the position of ClearSale, the new organizational structure and the new growth strategy of ClearSale, I'm gonna call our President, Eduardo Monaco, who will then talk, pass on to Alexandre Mafra, our Chief Financial Officer, who will talk about our numbers, our results. Thank you, Bernardo. Good morning to everyone. It's a pleasure to be with you here again to share the ClearSale results and to share our new conquests. We have been for a while on a journey of componentization and the creation of a new platform, ClearSale platform. It's a very important point is that we have created a numerous new components. These new components have given us more scalability for the company. We're also able to have a lot of efficiency products starting from that. In recent years, we've been on a journey of migration and structure on-premise to structure for a cloud. We also have developed a number of efficiency projects which affect our results, such as our seeker, our searcher, our new platform, technological platform, a more componentized model and more scalable, and also the growth of the company in a more distributed way with the different reports that we can now do. The strategy of componentization has also permitted and helped us to be able to create many new components. Today, as you can see on the orange on this graph, we have many new components which permit us to have a platform, complete platform, and unique in the solution of risk management and fraud in a digital environment. All of these with a great deal of potential for creation of value, which we're going to share with you in this next topic. The more components we have, the more offerings we have are able to make. The more we can offer to our clients, the more we can address many problems which in the old structure we were not able to address. We had some big difficulty in hitting. So we hit the market, we're reaching a much bigger market, a much more segmented market in which ClearSale can be exploiting as we explained in the numbers, the sales numbers that we've done and will continue to do. This helps us to be able to make an offering of different models. Years ago, ClearSale was very focused on the crowdsourcing part where we had a complete management for our clients. More and more go to a model where we can sell only one component, technological component, which resolves a specific pain point, but which is generally the entryway for ClearSale so that we can get our foot in the door into the cross-selling and upselling for our clients. Beyond that, understanding the pains and risks, we can envelope all of these packages which attend better use cases such as the fraudulent names and false names and solving a latent pain point in the market. Beyond that, we're getting closer and closer to more clients, new segments, and as such, closer to the pain points and risks of our clients, which have always made it available and possible for us to know better and better each one of these markets. As ClearSale has grown in these new markets, we started a new strategy, organizational strategy, a new structure, an organizational structure where we are today grouped into units, business units, Ecommerce unit, which is totally globalized, where more than 1,000 clients outside of Brazil are in our portfolio. It's relevant to mention that it's grown in Brazil. A business unit for Application Fraud to take care of the onboarding question in relevant segments such as banks, telecom, fintechs, and all of other where we add value in the onboarding process. We also have a new business unit, more structured and more robust, which we call the New Ventures, which has the objective of exploiting new avenues of growth, considering the options and differentials of ClearSale to develop products here. We have, for example, here a structure which is very successful in cybersecurity, which has grown constantly during ClearSale. All this supported by specialized area of risk management. We have our specialists in data, in technology, in science, in data science, who are able to solve the risk problems, measuring and analyzing the risk of each type of risk. Also beyond that, we also have a group which helps us to execute our go-to-market in each one of the channels and segments that we have mentioned. We're talking about people and resources, financial resources. With that, we have better positioning of products, much more focused on the client service and a much better connection with our sales. Today, ClearSale also handles a much more agile management. With all this shows that we are very much focused on what we call the growth cycle, which we call it currently the growth cycle, which is this cycle of all these differentials, which are working and functioning. Since we have many more new components, we're ready to create many new components. We're also able to offer more offerings with these components, as I mentioned. We're able to have much more offerings, and we are able to have much more segments, new segments, which previously we were not able to arrive, reaching many more clients. We're closer, more closer to our clients, also closer to their pain points. With that, we'll be able to develop new components and better components and help the cycle to turn positive for ClearSale. Is what makes the potential this year for a go-to-market strategy, which has been very well done, which will unlock value in many new segments of ClearSale, where we today do not have leadership, but we're ready to address. Talking about the clients of the company, which has been very important, very much valued within the company. Resolving everything, we understand that we leave the model in recent years, the traditional model of management. We have a much more agile model as per business unit, and we have a strategy of product which leaves the crowdsourcing model and goes and componentize sales, bundled sales or packages. We leave a system which is much more scalable. The system that's more scalable with new learnings in the platform. We leave from a strategy of growth where we had leadership and we were thought of by many clients and more and more analytic sales. More and more we have the segments which we want to solve the pain points of our clients, important pain points, and more internal for governance, much more, more modern and much more autonomous and much closer to the client. I want to thank you and ask Alexandre, our Chief Financial Officer, to talk a little bit more about our results in the fourth quarter of 2022. Thank you, Monaco. Thank you very much for your presence. It's with satisfaction I present the financial results of ClearSale. As Leonardo said at the beginning of the presentation, we're a companyIt knows how to change the arrow quickly, it can achieve much quickly because we have a consolidated division of our revenue and how we have consistently accelerated the rhythm of growth during the year, reaching 51% in the Q4. This is reflection of the control, fraud control and conversion in our pipelines of sales focused on new segments. At the end of the year, the growth was 11.4% compared to the same period in the previous year. The Q4 of 2022 was also the best quarter for annual growth of revenue for Ecommerce in Brazil, which grew by 18.4% compared to the same period in the previous year. This quarter, the deceleration of the Black Friday in 2022 was partially compensated by the Christmas sales and new sales. Here, I point out the sale solutions for new types of payments, such as payment links, cross-border, new clients, and cross-selling and upselling. In Application Fraud, we observed a return of growth compared to the fourth quarter of 2022, with a growth of 13.5% in the quarter and 18.4% for the year. After a fall in the previous quarter with a lower profitability. The growth is explained both by the recovery of base revenue as well as by new sales. This is the second highest level for this line of Application Fraud in the history of ClearSale. Accumulated for the year, the growth was 17.8% compared to the same period of the previous year. In international commerce, we had revenue in dollar, 12% in the fourth quarter of 2022. The fourth quarter of 2022 also marked a record of new sales, which cooperated with our annual growth. In accumulated for the year, Ecommerce international had growth of 23.8% in U.S. dollars and 18% in Brazilian reais. I now present our operational indicators to close the year with a solid performance. ARR of new sales was BRL 76.8 million for the fourth quarter of 2022, three times higher in the year and in the quarter, and hitting a historic record. In clients, we had growth of 911 clients in the quarter and 1,802 for the year. Quarterly acquisitions were also a record in the history of ClearSale, ending the year with 7,575 clients. Our churn rate closed the year in 2022 at a level, very healthy level of 1.4%, 0.7% less than the previous year, which represents a more lifetime of more than 70 years per client. This is the highest to lowest level for this indicator in the history of the company. Our costs and recurring expenses reached BRL 237 million in the fourth quarter, considering this BRL 5.6 million of provision for credit for the liquidation of occasional of a large retailer with a large part of the large national retailer. It was 11% compared to the first quarter of 2022, or 15% when you don't consider the temporary loss. When we compare this with the first quarter of 2022 with the fourth quarter of 2021, this was not comparable. We each had a PLR of 17.6, which did not occur in this quarter. Even if we look at the fourth quarter of 2021 and we do not consider this PLR of 17.6 and a PDD, the one-time PDD in the fourth quarter, we have a reduction of 8.6% in the year. Comparing with the third quarter of 2022, we had an increase to 15.8%. Looking at this number in details, the costs specifically increased by 6.5% in the quarter, relatively slower than the growth of 16% in revenue, making a better operational efficiency. The increase due to the provision for credits, for doubtful credits and expenses concentrated in the last quarter, such as the usual end of the year expenses. When we look at the gross revenue and gross margin, we had a gross margin of 17.6% in Brazil, and 51.9% consolidated for the fourth quarter of 2022. Third quarter consecutive expansion of gross margin, maintaining a level above the level observed in the pre-IPO. In absolute terms, BRL 32.2 million in the year and BRL 16.4 million in the quarter. Our adjusted EBITDA margin, slightly positive the previous quarter, maintained its expansions, reaching 20.9% in Brazil and 8.7% consolidated for the fourth quarter of 2022. Excluding the effect of this provisionment for doubtful credits, the growth of 25.2% in Brazil and 12.4% in the consolidated. In absolute terms, the EBITDA, adjusted EBITDA would be BRL 13.1 million in the fourth quarter or BRL 18.8 million excluding the effect of this provision. Looking at slide 17, cash flow. We bring our cash flow for the quarter. The first point that we'd like to mention is that the continuing generation of cash with BRL 4.6 million in the fourth quarter of 2022. The investments done to maintain the sustainability of our business and our innovation totaled BRL 18 million. It made BRL 9.9 million in licenses and BRL 8.1 million in systems for the implementation of SAP. 8 million in amortization of debts according to the chronogram of the same, and 2.4 million in fixed assets. Mainly due to change to the change of our headwaters. In this way, our cash closed the year with at a level of very healthy level, 479.6 million BRL. For 2023, we will continue with the discipline seeking the maintenance of cash, operating cash. I'd like to call Bernardo for any final considerations. Thank you, Mafra. Thank you, Edu. Now for our final message. First, I want to reinforce the commitment that we have with the generation of confidence in the market. It takes our clients and the consumers of our clients. We've always been focused on the generation of confidence to demonstrate the churn rate of 4%, which is historic once again of ClearSale. Only 1.4% of our revenue of our clients left ClearSale in terms of recurring revenue in 2022. We also added ClearSale on the route in terms of profitability, not only by the numbers themselves, but also the consistency of the evolution of the level of profitability over the quarters from the first to the fourth quarters. Without losing the revenue of the rate of growth, which has been consistent since the first quarter until the last quarter. Beyond that, we do not stop looking at the long term, reinforcing once again our focus in growth, sustainable growth. In what way? Increasing of the portfolio of components that we offer. The flow project, which will modulate, modularize the growth and increase the gross margin and permit growth more with the declaration of the organizational structure into business units to get more autonomy for decisions for the company. We also had the best quarter of the year in the fourth quarter in growth of new revenue. This revenue, which tends to be recurring. It was during a worst macroeconomic scenario, and a growth of the number of clients creating more than 7,500 clients. Adding all this together, our commitment, long-term commitment, and our capacity for reacting our growth is consistent and added together with the profit, consistent profitability, which even though it's been a very difficult year in macroeconomic terms and cost of capital for all of the market, it gives us the sensation of good job and the expectation. We are 15 years in the market, this market of fraud prevention, and we know how to deal with all of that, and we will know how to do this more and more. Thank you very much. Thank you all for your presentation. We are now going to get started our Q&A. We have both for analysts as well as for investors. I'd like to make one agreement with you. Please send your questions, utilize the chat button located in the lower corner of your screen. The first question is from Flavio, Bank of America. He said, "We'd like to understand better what we can expect from you in terms of growth in clients for 2023. In growth revenue. Will you be on plan? What can we expect an improvement of margins?" Hi, thank you for the question. For the new growth for 2022, better than 2021. For components, component combinations, which I've done together with full outsource risk management, which always operated. The combination of all the combinations of offerings that our budgets, we have reduced greatly our expenses over the year. One of the lines which we have not reduced was marketing, because we need to bring these components, new components and new offerings, which are appropriate for the market. We have a record in new revenue in the last quarter. The tendency is to have more packaged and more adequate tendency for the market, which will continue in growing our revenue. I'm going to pass it over to Eduardo to talk about the growth cycle, which is all modeled for this year. Good morning, everyone. I wanted to mention Bernardo's answer, which we mentioned in the presentation. ClearSale has in the recent years a strategy which is very serious of going from one company with kind of mindset, much more monolithic and monoproduct to a strategy which is more componentized for our solutions through the creation of new numbers of components over the recent years, through serious investments in products and technology and components, architecture, cloud, etc. This means that we have been able to have a much higher scale, much bigger scale than what we had in the past. This scale comes from two different areas, complementary areas. The first is a scale where you permit yourself to sell isolated components. That's also one pain point through outsourcing model, which is our key product in the product ClearSale. Now we're opening up the opportunities for other possibilities. It's important to complement as this opens avenues of growth for us in segments in the market, whether it be Ecommerce or Application Fraud, which demands adaptations of our solutions, which now has become much easier and much more natural. From a technological standpoint, this is important. From the standpoint of positioning of ClearSale in the market, it's important that in 2022, how we unlock value in all the investments that were done, counting on the diverse segments of the market. The market such as ClearSale can and knows how to help them in each one of their challenges. We've done a lot of work. It was inspired by this growth cycle, looking at our offerings and how we package this, how do we do the work of go-to-market, more focused and more structured, and how we organize better this commercial area. To be able to continue growing in 2023, as we grow in these segments, the recurring business, we also pile up new business on our history, we learn to enter into new segments, increasing our scale. Talking about profitability, the tendency is a continuation of the growth in profitability, respecting the seasonality. Why do I say that? The project of the equilibrium plan, as I said in the presentation, is not a one-time thing. It wasn't layoffs. It was a series of projects combining growth with margin, which I said dozens and dozens of projects. Many of them are still in the rollout phase. In other words, we develop something which brings more efficiency. I'm gonna distribute this over my whole chain of clients. The expectation is that we'll have more profitability, also when compared to the previous year. It's very difficult, for example, in the first quarter, somebody who's much connected to retail and credit to be better than the fourth quarter. However, that doesn't mean that conceptually the projects will diminish their profitability. On the contrary, they're increasing the profitability. Looking at this year-on-year, the expectation should be very good. Anything else you would like to add? I think that's it. Just to complement that, if we continue with a very great deal of discipline in relation to our expenses, we know that the new year, 2023, will not be a simple year. We're user-based SaaS, we're not counting in our budget, in our projects with a huge growth of base revenue. If it comes, I think the company is very well prepared to capture these opportunities. If it doesn't come, we'll continue with the discipline to guarantee that we have a good year independent of this moment of the economy. On the other hand, as Bernardo and Monica said, we see this helping a great deal our company, principally when we speak about all of the new clients that are coming in with higher margins and so forth, which is helping quite a bit. We're gonna continue with our feet on sound. We're gonna be going forward, but we're ready to capture every opportunity that should appear, show up our way. To add just one important point, due to the new strategy of components, the tendency is that new clients will go into a more modern solution with more margin than in a legacy solution. Very well. Thank you. Just remembering, if you have a question, please use the chat on the right-hand corner of your screen. Going forward, we have a question from Andrew from Emerging Variant. Can you please clarify the expectation of when you expect this expense in software and investment in 2023, and how much of that is related to Brazilian business and how much is related to international business? When the international business will generate a break even? I'm gonna give you a conceptual answer since we can't give guidance. We don't give guidance, but in terms of CapEx, it's a big line in ClearSale. Talking about CapEx in general, why do we have cash? We have cash to invest in growth, and this is focused on long-term growth. To grow, we need scalability, structuration, and products which are adequate to the needs of the market. When we see the development of software or CapEx in general, the first and most important thing to remember is that part of this is in systems, internal systems of the company. For example, installation of licenses, DRPs, Salesforce systems so that the company can work, which is part of the structuring of the company. Another part is in scalability. We have a flow project, for example, which means that the legacy systems will transform, which decouples it, reducing costs per transaction with transactions with good margins. We increased by BRL 60 million from the first to fourth quarter due to the development of software. This is not done. Just to remember that a good part of these investments in CapEx and systems, internal systems, are finite. One time, the CapEx will reduce. The other is the development of software in the future. We launched more than 12 new components this year, which will be offered, which will translate, probably at least as we hope in new sales. Part of that, of this CapEx should be reduced by the end of the implementation of internal systems. The other one, with the end of the legacy treatment, we cannot pass any expectation exactly for that. The other is that we should not reduce since we're a company that has to accompany the market tendencies, and we're a high-tech company. Mafra can give you a little more information about that. Before I pass it to him, talking about the international, we have more than 1,500 clients outside of Brazil, the majority of them being profitable, that we have started to, since 2021, 2022, to be much more careful with this portfolio. We have a goal, an executive goal of reducing the cash burn, international cash burn. We're not gonna throw away the market where we have the best product due to the evaluation of the actual rating agencies or product rating agencies, and we have the low rate of churn. We also are not going to lose that position. We're structuring projects underway so that we maintain the investment, international investment in which we believe. However, without burning cash as we had until now. We have no expectation. I can't give you any expectation of we're break even on this area, knowing, remembering that it's an important market for offerings, Brazilian offerings, which involve clients in all of Latin America. Internationally, it's an important market. We continue betting on this market. However, it is at a slower rate, and we're looking to bring these products to these markets in a more precise way. It's a bet, it's our bet on international growth. We're betting on international growth, Mafra can talk a little bit more about that, about the numbers related to that, which we can give a disclaimer there. I think there are two points here that are very important. One, it's a good question because it comes from one of the principal challenges that we face. When we look, we have the opening, a better opening in this quarter, which effectively, in relation to what are the other components for internal development, purchase of licenses, a little bit what we spent on the implementation of SAP. We know that internal development and the SAP platform are non-recurring expenses. We have a implementation in international market this year, but the biggest expenses are behind us, and we focus on this specifically on these expenses in this quarter was 14% for the year. We're reaching about 16%. We look at this in the long term. We see it's a benchmark which is very interesting to seek after of approximately 10% above rest of these values. We're gonna have our feet on the ground to dose this. It has to be done in accordance with the growth of the revenue of the company, in accordance with the opportunities that we have for investments in relation to the return that these projects will give. What we have today is a return that is very, very healthy. The biggest advances that we've had in the concretization of this in this quarter, the number of new clients and new sales helps us, goes with the investments that the company has made in componentization, and it shows us that we're heading down the right road. Very well. Remembering, if you have any questions, please use it in the chat button in the lower right-hand screen. We have a question now from Bernardo from Page One. Good morning. Congratulations for the results. Can you please give us a little more color on the New Ventures area? What are the synergies with the ClearSale businesses? Comment on M&A opportunities in this area. I'm gonna talk a little bit about innovation in general. As I said, we're in a market transformation. We have New Ventures. We're investing in our solution transactional Ecommerce, with, you know, sustainable innovation. We spoke many times about solutions for Application Fraud and onboarding of new components. The New Ventures, we have three big bets, which are credit, which is the reality in ClearSale, the behavior of the digital consumer like no one else in Brazil, you know, credit in Brazil. Cybersecurity. We have a ThreatX, which is being monetized in Threat Intelligence, which is a unit totally incubated in the area which we called the exploration area, which is now the New Ventures area. Now what we call internally finance, which is entering into transactional bank, banking transactions principally due to the fraud in the Pix area. Some of the Pix fraud are done in using the receipt. How the resource is done in a, in accounts which open in third parties or false names. ClearSale is going to specialize in resolving this. We're the only ones that's been able to resolve this fraud in the national market, which is a pain point, an extremely large pain point in the banking system. We want to go into the transaction, the banking transaction area to resolve this type of fraud. In the Pix area, we're also gonna have the Pix payment plan, which it will have fraud involved because the fraud can leverage the resources received instead of buy several products at once, especially in the e-commerce, which already take care of. This also involves the recognition of patterns. These accounts that receive these resources have a behavior totally atypical for a normal account, a normal account of receipt of Pix in a fraudulent way. It's all addressed in this new New Ventures area. Also a mechanism for the return of Pix that the bank, the central bank is implementing, which will be similar to a chargeback, which is the return of resources in the e-commerce, however, with responsibility now as the banks. There will be fraud, and ClearSale is also preparing for that. In general, these three main bets in the short term of New Ventures are these, and also involve a good part of our research and development we're doing right now in research with players who already operate in the sector for possible partnerships or acquisitions. Anything else? No, I think you covered it very well. The next question is from Rodrigo from SulAmérica. Thank you. Congratulations on your results. Do you think that this churn at some point can go back to less than 1%? What can we expect with the emulation of redundancies in 2023? Again, how has the chargeback performed in this beginning of the year? As far as churn below 1%? Yeah. Let me clarify. The first quarter, we have the financial churn. We analyze it. In the second quarter, we take the churn. It accumulates. This churn accumulates. It's always good to compare it with the closed year where we show an improvement in relation to last year and a record, a historically low record. The churn, it's always to remember to look at the accumulated year-over-year. Do you wanna talk about chargeback? There are two other points in the question. One is duplicity, double charges, repetitive charges. This has to do with our efforts, our efficiency in R&D. yes, when you're in the process of construction of new technological components, they are part of the redundancies in costs. there's also the efficiency and organizational process of ClearSale. We redesigned the organization of ClearSale at the end of last year, and we're heading a course this year to capture synergies and redundancies that exist, for example, in the inter-international sector, interpersonal sector, an area which has focus on commercial and another focus on the operational part by which we can find opportunities. this can also create things that as we stabilize the structure beyond the product area. yes, I would say that it would be extremely significant in our results. The last part, which is the chargeback question, I would say that since the middle of last year, we have had to stabilize the chargeback at levels absolutely comfortable and inherent to our history of chargebacks, which are very well managed for each one of the risks in each one of the segments in which we work. From that moment until now, we're at a very stable moment of chargebacks. We have two or three minutes if you have any more questions. If you have any more questions, please send it to chat in the lower corner of the screen. Well, we have no more questions. If we don't, we'll go ahead and close the presentation. Thank you very much. I'll close our question and answer session. Would like to pass it now to Bernardo for the final comments. Bernardo. Thank you for joining us in our results call. Repeating, we have the difficulty which was this year. We have a feeling of having to comply with our duty with the perfect storm which Mafra speaks about. We have always had and still have the capacity for reaction, a very quick reaction when we have new challenges with our team or in the demands that we see, latent or urgent demands that we see. We are able to. We're very proud of having a culture that is very strong, which is proven in the research of TPWD and many others in which we participate. It had also came out in the end of the perfect storm came out in the press, I would say in another way. The storm is still there. The interest rate is extremely high. The discretionary consumption is still difficult. Debt, family debt, indebtedness persists. Doubtful payment is high. The difference is that we at the time of the IPO and up until a few weeks after the IPO, we were navigating on calm waters, but then all of a sudden we hit a 15-meter wave. The difference is that these 15 or 20-meter waves are still there. However, ClearSale has We learned how to deal with fraud, manage risk management, and we're used to these types of waves. This, the storm isn't over, but we've learned how to deal with it, which is a term that Eduardo uses. In that case, we never started looking at the long term, which is reflected in the CapEx, which should be reduced over time. We're a required growth over time. I'm not gonna stop betting on the. All the other stakeholders. We're the only tech company in Brazil certified with the B Corp system. With that, we maximize the value for all the stakeholders in the long term. With that, we're closed here. We're very satisfied with this quarterly results. Thank you for your attention. Thank you, Bernardo. Thank you all. We now close this conference. We thank you for your participation, and have a great day and until the next call. Thank you.