Good morning, and welcome to our Q3 trading update 2021. Thank you for joining us today, and we are looking forward to taking you through this webcast and of course, to your questions in the Q&A at the end. This webcast will be streamed, recorded, and made available on our investor relations website after the call. I would, of course, briefly draw your attention to our standard disclaimer. Your presenters for today will be Jan-Dirk Henrich, CFO and COO, who is responsible for all finance-related functions at Exasol, including accounting and controlling, legal and compliance, human resources, internal IT, and investor relations. Myself, Aaron Auld, CEO of Exasol. I am responsible for the strategic direction of the company, strategic communications, as well as key business relationship management. To summarize the key points in this webcast in brief, we achieved a run rate of EUR 28.2 million in annual recurring revenues to the end of the Q3 of 2021, which represents an increase of 31% versus the same period in 2020. We are now projecting annual recurring revenues of EUR 30 million-EUR 31 million to the end of the year, as opposed to the more than EUR 35 million we had previously communicated. The midterm target of EUR 100 million in annual recurring revenues has subsequently moved out to 2025, as opposed to the previous timeframe of 2024. In order to address the lower-than-expected growth, we have initiated a number of changes, including revising our organization to reduce complexity and create integrated ownership of key functions; sharpening our go-to-market focus under the leadership of our newly appointed Chief Commercial Officer; and adapting our product strategy to align with evolving enterprise data strategies, which will comprise moving to full platform independence and cross-platform consumption-based pricing as a service, which we are terming our high-performance Bridge to the Cloud Strategy. We will also introduce a new investor relations cadence with quarterly webcasts and roadshows to update our investor community on our progress, among other informational and transparency events, which we intend to organize in the coming year, especially with the start of our new investor relations manager from the 1st of January 2022. Following from this summary, our topics for today will be our Q3 trading update and guidance, what we learned in 2021 so far, and the measures we've taken in the context of those learnings. We'll introduce the financial calendar as it stands today, and we'll cap the presentation, of course, with a Q&A. At this point, I'll hand over to Jan-Dirk to take you through the trading update and guidance. Thanks, Aaron. Well, let me provide you with some details on the key drivers of ARR development up to September and the implications for our guidance for 2021 and midterm. As you know, we do not provide full P&L and cash flow figures in Q3. Nonetheless, I will also provide you with an update on the development of available liquid funds, and the associated cash burn and the development of headcount as our most important cost drivers. Sorry. Let's start with ARR development. First, in terms of ARR development by type. As mentioned, ARR stood at €28.2 million as of end September, representing a 31% growth versus same quarter in 2020. If we look at where this growth came from, it came by two-thirds through our ongoing strength in increasing revenue with existing customers. Gross ARR retention stood at 123%, while both ARR churn and customer churn decreased significantly, leading to a net ARR retention of 120%, and that's up seven percentage points versus prior year. Now, that strong upselling performance notwithstanding, growth contribution from new customers remained behind expectations with an overall contribution of 11 percentage points or EUR 2.3 million ARR. In total, Exasol won 33 customers in 2021 while losing seven, bringing the customer base to 207 as of end September. If we look at the breakdown by geography, we get a little bit of a clearer picture of where the root causes are for the slower new customer development. Looking at the ARR breakdown by region, you can see that the major driver for the shortfall is the new business in the U.S. and U.K. markets. Over there, while upselling was similarly strong, albeit from a lower base, new customer acquisition was behind expectations, both in terms of number of customers and average deal size. In his section later on, Aaron will elaborate more on the key learnings we drew from this and what the implications are in terms of changes that we initiated moving forward. Now, that shortfall in new customer acquisition notwithstanding, Exasol continued to demonstrate its ability to convert large-scale data players, particularly in key verticals that support use cases where our product has a unique advantage. Since June, we converted 3 multi-billion EUR corporations in financial services alone with first use cases, with significant upsell potential that we see in 2022 and the following. As mentioned before, these customer acquisitions were bolstered by strong net revenue retention and upselling from existing customers. In the course of the last 12 months, more than 60 customers increased their business with us by an average of EUR 80K-85K per year. That's more than 30% of our total customer base who have expanded their business with us. Now, given this overall described ARR performance, what are the implications for full year 2021 and our original guidance for this year? It is undoubtedly that we will finish 2021 with a lower growth momentum than we originally aspired to, due to several delays of larger new customer and upsell projects into 2022, and the lower overall customer acquisition momentum that we described before. We sat together with Don and the ELT, and reviewed holistically our sales pipeline, and we now project to reach end of year about EUR 30 million-EUR 31 million ARR, translating into a growth of 24%-29% versus the very strong Q4 2021, compared to our original projection of more than EUR 35 million. This lower growth momentum also translates into an adjusted midterm outlook as well. With the growth acceleration, particularly in new geographies being delayed by six to nine months, we now project to reach EUR 100 million revenue by 2025 instead of the previous projection of 2024. This will also set the boundary parameters for our planning in 2022, for which we will provide our guidance in our February webcast, once we know how 2021 will ultimately have ended. Now, during the last roadshow, many of you inquired about the cash requirements of the business and the associated cash burn. Although we don't report full financial statements in Q3, let me nevertheless give you an update on the development of liquid funds. Liquid funds stood at EUR 33.4 million as of end September. That's down EUR 13.2 million versus June. This, however, did include prepayment for Q4, especially in the field of marketing, of approximately EUR 0.8 million, as well as one-off payments related to legacy employee stock programs of EUR 1.8 million. In September, the leadership team started to rigorously review and reallocate investments not delivering the expected return, and we took some reorganization measures in October that Aaron Auld will elaborate on in his section, and they were a first step in this process. They will deliver payback already in 2021 and will allow us to enter 2022 with a lower operational cash burn rate. We therefore expect year-end liquid funds to come in at around EUR 24 million-EUR 26 million. That already includes approximately EUR 1 million of one-time costs for implemented reorganization measures. With further positive impact in the ingoing cash burn rate into 2022. As a consequence, Q3 2021 will have been, so to say, the low point in terms of cash burn rate that we'll have seen with improvements to be expected moving forward. Let's look at headcount development as our most important cost driver. As of September, headcount already was flat at approximately 290 people compared to end June. This, of course, as an end of Q3 number, does not yet include the reorganization measures that I just mentioned. How would that change the picture? The measures will have led to an overall slight reduction. More importantly, to a structural shift towards EMEA, lowering average cost per employee in the organization. While the overall U.S. footprint will now have been reduced, the reduction primarily affected the global functions that were previously located in the U.S. The U.S. go-to-market organization per se remains largely in place, continuing business development in this strategically important market and working our pipeline. With that, I conclude the numbers part of the update. I hand over to Aaron Auld, who will lead you through some details regarding the key learnings we drew from the developments in 2021 and the changes we've initiated as a consequence of these learnings. Thank you, JD. Moving to the second item on our agenda for today, the key learnings and the initiated changes. We made major changes and additions to the organization in 2021, and we invested strongly to grow the company and expand our footprint in terms of company size and market impact. Clearly, not all of the planned measures worked the way we had originally anticipated. What have we learned from this process, and what changes have we initiated to regain ground? Let's start with the organization itself. What we realized in the recent past was that despite establishing a cross-functional collaboration platform, some may have heard you mention our OKR framework previously, the go-to-market organization lacked a single clear owner and leader with the necessary experience and skill sets to align the different functions and stakeholders and execute on our strategic direction. This was exacerbated in no small way by the COVID restrictions and uncertainties that we have all seen continuing throughout the year. We recognize, of course, that everyone has been subject to the same constraints. However, in this so critical initial growth phase at Exasol, they clearly impacted our coming together as a team and the ability to recognize misalignment sooner. We have responded to this realization now by restructuring our leadership teams and cadences, and in particular, the ELT, or the executive leadership team, which we have extended to include a new Chief Commercial Officer to ensure that our go-to-market strategy does have end-to-end ownership, and that as an organization, we understand clearly that integrated execution is key for success. We have also shifted product marketing under the head of marketing role, which now moves under the ultimate control of the Chief Commercial Officer, and product management back under the CTO to ensure much closer integration with R&D and engineering and drive agile and reliable roadmap delivery. With respect to our go-to-market activities, we have come to the conclusion that our value proposition is still insufficiently articulated and understood in terms of capability and specific outcomes. Therefore, we are in the process of redefining our product positioning, most importantly, to fully embrace enterprise cloud-first strategies, provide extended capabilities to address those strategies, and focus our execution on leveraging our unique technological strengths. Finally, we recognize that our business model is geared to highly operationalize use cases where the data, the users, the use case, and the expected outcomes are fully understood and calibrated. However, until now, we have not provided our market with a more versatile model for evolving data strategies, which at enterprise level are increasingly required to address multiple use cases and stakeholders moving at different speeds with different tools and wildly varying proficiency levels. Increasingly, we have seen that the narrower scope that we cater to is constraining our ability to be more widely adopted as a strategic solution at enterprise level. To change that perception and reality, we will extend our deployment capabilities and business model to provide consumption-based pricing on all platforms and software-as-a-service automation in order to deliver real-time business analytics as a service for hybrid enterprise data environments. In other words, where substantial amounts of customer data will remain on-premise and certain use cases will move to one or several cloud platforms, all of which built on our unique strengths, which we have designed, developed, and refined over multiple years, starting with our superior performance and the clear cost efficiencies which this enables in terms of infrastructure usage and cost, and which are consistently underscored and endorsed by multiple international benchmarks, analyst reports, and engagement surveys. As I explained earlier, we have made substantial readjustments to the organization, which have also become possible due to the new and experienced executives we have onboarded in the last couple of months. Moving ahead, my role will be to focus primarily on the strategic direction of the company, driving a clearer internal and external communication to frame that strategy, and what I consider to be extremely important, to leverage and operationalize the valuable relationships we have built in the market over the years to benefit our overall go-to-market strategy. Don Kaye, as our new CCO, will integrate all sales and marketing functions under his leadership, including a heavy emphasis on partnerships and strategic alliances to deliver end-to-end market execution. Mathias Golombek, as our long-year CTO, will reassume overall responsibility for the value chain between R&D, engineering, product management, customer support, and the community to provide a faster, more agile, and customer-oriented roadmap to drive product-led customer engagement, of course, to deliver the key components of our extended capabilities product strategy. Our new CFO and COO, Jan Dirk, will manage finance, legal, HR, internal IT, including security, compliance and risk management, of course, investor relations. Overall, we are a strong team that is working extremely well together, and this gives me a very high level of confidence in our ability to accelerate growth moving ahead. He has been referenced several times, and since he is not joining today's webcast, it behoves me to briefly introduce Don Kaye, our new Chief Commercial Officer. Don joined mid-October and has assumed end-to-end responsibility for sales and marketing, partnerships and alliances, and of course, customer success management. He brings extensive experience in leading go-to-market activities in software and services, both in large-scale operations such as Apple, Microsoft, and Kaspersky, and emerging players like Roundups and Connectics. Don is already making fast inroads into understanding where we are as an organization, collating his findings, coming to conclusions, and has set clear targets in terms of when and how our North Star will be defined. In other words, how and when the go-to-market strategy will be set and ready to move to execution. We speak as a leadership team several times a week, and Don and I speak several times a day, and I can say that I am very impressed by his savviness, clarity, and the experience that he brings to bear. Don's first focus, of course, will be on delivering customer value, accelerating customer adoption, and driving revenue growth. We know that we need to leverage our strengths, in particular, where customers require high-value, real-time business analytics. In other words, use cases which are highly operationalized to drive business-critical processes where deep granularity and time-to-value decision support counts. For data strategies where hybrid deployment across on-premises and multiple cloud environments is still, and will remain, a key requirement, and where companies are seeking a seamless replacement strategy away from their business-critical legacy systems, in particular, when implementing a cloud-first strategy. Our focus will continue to be on North America and Central Europe while building confidence in the U.K. and U.S. markets across verticals where we have already proven our value with clear domain and outcome excellence. From 2023 onwards, create the framework to scale in the rest of Europe, Asia, and Latin America. How will this be achieved? We will simplify the sales process at all stages, from first engagement to contract and onboarding, and substantially improve ease of trial and adoption. In particular, via software-as-a-service, in other words, automation, auto-scaling, usage-based pricing in the cloud and on-premise, automated data warehouse building and infrastructure-as-a-service, all of which will enable us to provide customers with cloud benefits and economics on-premise and in hybrid environments, paired with our clear performance advantages. We will continue to build on our customer obsession strategy and work to obtain trusted advisor status in all major enterprise accounts. We will focus much more deeply on strategic channel and technology partnerships to ensure greater access to our target sectors and customers, increase vendor credibility, and create a stronger foundation for growth based on a clearly understood value proposition. We have articulated our vision to be the analytics platform trusted by the world's most ambitious organizations. Of course, the question is, what are the key components of that vision, and what does the path or roadmap there look like? Taking where we are today as a starting point, we already deliver the best-in-class solution for on-premises high-performance analytics based on our unique high-speed in-memory technology. We know from our customer base that the capabilities which we put in their hands are business critical and unbeatable in terms of performance and price performance. When use cases are fully operationalized and running 24/7, our data volume-based pricing model is fully accepted as an appropriate model from the customer perspective. However, we know from multiple conversations now with CTOs and CIOs in our larger enterprise accounts that their data strategies are evolving to include use cases which are, by their nature, not 24/7, or else are still in the process of being fully understood and operationalized. Such strategies are cloud first, which, to be clear, does not mean cloud only. In cases like these, the ability to scale up and down, to pay for usage rather than volume, and benefit from certain cloud economics is becoming increasingly important. For this reason, we have engineered cloud elasticity for all three major cloud platforms and will be introducing elastic auto-scaling on AWS in the coming weeks. Another issue we are seeing more and more in enterprise is the move towards decentralization. In other words, moving analytical capabilities away from centralized IT to the individual business users, which is why software-as-a-service is also becoming increasingly important. We are addressing this by releasing our own software-as-a-service offering based on Amazon AWS. This will incorporate consumption-based pricing and cloud ETL integration and will provide customers with much more flexibility for their data strategies and enable a seamless transition to the AWS cloud. As we see data analytics democratization evolve, we will introduce usage-based models for on-prem analytics and provide cloud elasticity for the Google Cloud Platform and Microsoft Azure. To boost adoption, we are intensifying our collaboration with major strategic partners to define an infrastructure-as-a-service offering, which will allow us to provide customers with a holistic on-prem analytics-as-a-service offering while preparing a seamless integration path to multiple clouds and back if necessary. As part of our increasing automation push, we will also be introducing our autonomous data warehouse product, which will enable business users with no prior technological knowledge whatsoever to build data warehouses or data mart for automated analytics on business data in real time, combining data from multiple data sources, including data lakes. From today's perspective, the final step of this roadmap journey will be to deliver complete platform-independent auto-scaling, enable the unification and integration of artificial intelligence with business intelligence at scale, powered by a deep GPU integration layer for further acceleration. We intend to create an open extension marketplace for users to build, provide, and commercialize adapters, connectors, and other tools to extend the usability and versatility of our database technology. On my final slide for today, we have broken out the schedule for releasing the different technology components in simple table form, which provides a good overview of what is coming and when. As I mentioned at the outset, this will be available on our website if you want to study this in more detail. With that, I will pass back to Jan-Dirk. Thanks, Aaron. As Aaron pointed out, we are confident about the learnings we took from the past 12 months and the changes we initiated moving forward, and we would like to support this journey with an intensified investor dialogue and financial calendar in 2022, which I would like to conclude today's presentation with. In 2022, we will update you as investors on progress in quarterly webcasts and roadshows as compared to the semi-annual cadence that we had before. Like today's call, these webcasts will be recorded and made available on our investor relations website. In terms of timing, we will reduce the time between closing and reporting on figures compared to this year, particularly with respect to full and mid-year financials, where in the past or also in this year, we had a relatively big gap between the actual closing date and the time we talked to you about it. Within these updates, we will increase the transparency on core KPIs as hopefully you've already realized today as we've increased the breakdown and transparency on our ARR development, as well as on ESG topics and KPIs. All these processes will be accompanied by an experienced internal investor relations head starting in January, which I've already mentioned in the last webcast, who will be at your disposal for ongoing dialogue and interaction. With these overall initiatives, we are convinced to, A, drive business forward and also hopes to retain your trust as investors and regain wherever needed. With that, we conclude our presentation and we look forward to your questions. Thank you very much. Thank you. If you would like to ask a telephone question, please signal by pressing star one on your telephone keypad. Please ensure your mute option is turned off to allow your signal to reach our equipment. Again, please press the star key followed by the number one, to pose a telephone question. We will take our first question today from Robert-Jan van der Horst of Warburg. Please go ahead. Your line is open. Hi. Thank you very much for taking my question. I have several, if I may. The first one would be a little bit on the shift in the marketing strategy going forward in combination with your software as a service approach. I understood that in the past, this was especially attractive to smaller customers or to customers that would start at a lower level. If I understood you correctly, the focus will be now more shifted into more sophisticated applications, where Exasol and its performance can really shine. Do I understand that correctly, that the main advantage of your software as a service approach going forward will be the elasticity and not so much smaller customers? The second question is kind of the obvious one about the cash burn and the liquid funds available, with an expected amount of liquid funds between EUR 24 million and EUR 26 million by the end of the year. The question, of course, is how long will this last? What do you expect in terms of cash burn in 2022? Just give us an idea how this will develop going forward, which costs you had this year that might not recur next year, and how much is actually available for further growth. Thanks. To answer the first part of your question, thank you for the two questions, Jan, we'll take the second, obviously. You are absolutely right. I think, for what we term commodity-level analytics, lower end, obviously, it's a very competitive market, and where price is key. That is not the market we are targeting, although we can serve it. What we are targeting, and we have proven that we can win those kinds of customers, in the past and this year, is the enterprise-level data strategy, where there's a lot of heavy lifting. There's high demand across the organization. As I said in the presentation, there are just very many different kinds of use cases which need to be addressed. Adding the elasticity and the automation for non-technical users expands our viability or, let's say, our acceptance as the strategic technology for enterprise in the required way. That's what we had been seeing that we were used for those high-impact or high-value use cases, which basically run the business, and where if they stop or if there's some other issue, it's immediately impactful for the business. We weren't necessarily being considered for wider adoption through the organization where they are decentralizing analytics and putting the capabilities into the hands of the business units. At that level, where you are still working out the value of the data, you do have use cases which are only being used intermittently or maybe once a week or once a day, where elasticity really makes sense. Being able to provide that to our enterprise-level customers turns us from a much more specific technology to a strategic technology. At the same time, through our SaaS offering, of course, we are offering a price point which makes us very competitive with the other vendors as well. In fact, compared to our most fierce competition right now, the way the pricing will look is that fundamentally, you will get more for the same price, or you will get the same for less, which will be an interesting proposition to the market as well. At that, I'll turn over to Jan-Dirk Henrich to answer the second question. Thanks, Aaron Auld. With regards to the cash burn, at this stage, the way we manage it and what we have as ingoing cash burn momentum already now with the measures already taken, we expect our funds to last us well through 2022 and into 2023. The way we manage the business is in a way that we actually don't need capital measures. If so, and if we execute them in the future, then it is to boost growth and not because we ran out of money. Just to give that a plausibility check. If you look at our guidance for end of this year, which comes in at EUR 30 -EUR 31 million, and you look at our net revenue retention track record of 115%-120%, that carries us already to EUR 35-EUR 36 million next year. With simply taking the new customer acquisition that we had this year of EUR 2 -EUR 3 million takes you to EUR 38 million already. The cost base that we currently sit on or with just the measures that we've now initially taken in October, depending on how much discretionary marketing spend you include, is between EUR 45 million and EUR 50 million, which brings you to a total cash need of EUR 7-EUR 12 million next year. This is, as I said, prior to any additional growth that we factor in, and it is also prior to any additional efficiency measures that we might take. This leads us to the conclusion that we are confident that our funds that we project for end of the year will last us well into 2023. If and when we go back to the capital markets to ask for additional funding, it is with a much more attractive growth to cash burn ratio, and with a clear and compelling and proven case. Perfect. That was very helpful. Thanks. Thank you. As a reminder, please press star one to join the question queue. We will take our next question from Lukas Spang of Tigris Capital. Please go ahead. Yes. Hi, good morning, gentlemen. Good morning. My first question is on ARR, the EUR 100 million for 2025. Can you please give us a regional split on this number? Did you take any changes, compared to the previous plans on this? I would take the questions one by one. Thanks very much. I think in terms of the regional split, we will continue to see about, I would say, 60% as we projected from our core markets in DACH, with 40% coming from the new markets that we currently start penetrating in U.S. and U.K. The exact splits of how U.S. and U.K. factor in something we are currently looking at with Don in a lot of detail. As Erin pointed out earlier, the approach that we're taking in the U.S. now moving forward is also more focused in terms of the key verticals instead of a very broad penetration strategy that we aimed at last year, which kind of added to the fact that it was a little bit of an ineffective strategy that we took. As a consequence, the U.S. share in the midterm target is a little bit lower than in our original business plan. Okay. If I told you the customer loss in the first nine months and take the number you gave us in the presentation, it seems that you just lost very small customers. The question is this a kind of intended reduction of some customers? You didn't revolve them and so focus on higher valued customers or is this a wrong interpretation? No. Well, first of all, the numbers that you see on the ARR bridges, those are always 12 months. That's always Q3 - Q3. That's not the losses of the first nine months this year. To your question as to the nature of that churn, there's no intended churn in there. We don't throw customers out. As any business, we of course look at customer contribution margins, and we look at where we believe the biggest potential is and steer our customer support efforts a little bit in that way. Overall, we don't intentionally phase out customers that we don't see promising. Also, because once the customer is on board, if you look at the gross margin from customers, it's quite high typically. There's no need for us to force out customers. No. It was still the same kind of situations that we've seen in the past, where we have seen some companies fail, some who have really reverted to open-source products because they couldn't afford any proprietary software or takeovers. This is basically a continuation of what we've seen in the past. Okay. On your Deutsche Bahn project, how much of this do we already see in the ARR number, and what can we expect in terms of upselling or upside potential from this? I don't think we disclose such specific numbers. What we can say, of course, is that as a relatively new customer, it's a reasonably sized project. The main issue for us is that we continue to grow into the account and become the strategic platform for them. The main thing for us this year was to get through the door, which is no mean feat for a company of our size, winning a customer of that size. Okay. Thank you. Thank you. At this time, we have not received any further telephone questions. I would like to hand the conference back to our hosts for any additional or closing remarks. Thank you very much, Molly. Thank you everyone for listening in today and following the presentation. We know that we have a whole row of additional one-to-one discussions starting tomorrow and going all the way through next week, which we're looking forward to, and going into more detail with you. We'll look forward to that. Thank you very much for today. Have a great day, have a great weekend, and look forward to connecting again soon.