Welcome everyone to Efecte's Q1 webcast. I'm Tatu Paavilainen. I'm the head of investor relations here at Efecte. With me today here at Efecte HQ is Niilo Fredrikson, our CEO, and Stefan Schumacher, our COO. For today's agenda, we'll start off with Niilo's remarks on our Q1 and our strategy execution. Towards the end of the presentation, Stefan will then join in and provide some more color on our international go-to-market. As usual, after the presentation, we will have the Q&A session, and you can present your questions already during the presentation using the webcast portal Q&A feature. Before moving forward, we have a disclaimer in the presentation material, so please take a look. With that, I think we are ready to kick off. Niilo, the stage is yours. Okay, fantastic. Thank you, Tatu, and hello everyone. Thanks for joining. Where is my clicker? Somebody stole the clicker. There we go. Thank you. We'll move on. Q1 was a busy quarter. It was also a good start for the year 2022. We helped a lot of customers digitalize and automate their work. As you all know, there are three parts to our offering. IT service management, our core, our heritage. Enterprise Service Management, which often is the direction into which customers expand once they started off with ITSM. And then last but not least, Identity Governance and Administration, the latest addition to our offering and also something I am personally quite excited about. During Q1, we also updated our strategy. We raised the ambition level somewhat compared to the previous strategy, and we made a bold statement saying that we as Efecte, we want to be the undisputed number one European service management vendor, the leading European alternative in our space. What that means is, as a first step, doubling our revenues in three years by 2025 to EUR 35 million, delivering double-digit EBITDA. We do think being the leading European alternative requires us to be a over EUR 100 million business. With the type of scalability we have shown so far, when you look at our recurring gross margin, look at our LTV/CAC and our other metrics, we do think that at that point, we will be able to operate at very high margins. We launched also a plan of how to get there. Our strategy is based on four key pillars: growth, product, people, and M&A. I thought we'll start off this call now by looking into each of those areas and what did we do in Q1 in terms of strategy execution and concrete results. In terms of growth, it was a quarter of fast growth. Our total net sales grew at 20% and fast growth was quite steady at 24%. We sort of continued from where we left last year. Now that said, every year the base numbers grow. While that 20+% might feel almost like boring, there is a compounding effect, which of course makes it every quarter more challenging, but also every quarter more exciting once we get to those numbers. Because in terms of euros, of course it creates more and more, and that helps us, that growing top line from SaaS and also from a very strong services contribution in Q1. That growing top line helps us invest in line with our updated strategy into our long-term growth. On product, and then I'll come back to this. Great quarter in the sense that we shipped over 30 smaller improvements and also a couple of bigger things that I'll comment on later on in the presentation. On people, I do want to stop here for a second. We talked about the ambition that we've set to ourselves, being the leading European alternative in our field. You can't reach that kind of a bold ambition without a world-class team. I've talked many times before how happy and privileged I feel to get to be part of this team. Now when I look what happened in the first three months of the year, it was very good progress. We hired again great new talent into the company. Also we were able to essentially keep the team that we have, which makes me very happy. With the low attrition, of course always some people leave and it's natural. Given the tough recruiting environment and the competitive employment environment, I think it was a really good result that we were able to both for the most part keep our team here and also recruit great new people on the team. In terms of numbers, what it means is plus 23% FTE, full-time equivalent headcount, at the end of Q1 compared to end of Q1 last year. What that means is that of course, it's a significant capacity increase in all the areas that we recruited more people in and also a significant cost. Of course, the full impact of that cost will only be visible now in the following quarters as the recruiting happened in various stages throughout Q1. Luckily, the growing top line helps balance that so that we continue to be confident about the guidance that we gave for the full year, both in terms of the growth over 20% SaaS as well as the profitability that we will be able to deliver positive EBITDA despite the relatively heavy hiring that has been going on. For M&A, we have continued evaluating opportunities. There is no major update there. We have a process in place, a funnel in place, and we keep on talking to interesting companies. What did we promise for this year? I already alluded to this. We did obviously check the boxes now for the first quarter of the year, and we also reconfirm the guidance for the full year. Moving on to discuss some of the SaaS metrics. Our LTV/CAC continued developing well as a combination of signing new customers and then on the other hand keeping the cost relative to that signing of new customers at a healthy level. The recurring gross margin keeps inching up. I mean, we always said that 80% we consider kind of a good level. I don't know if there is like massive changes there to expect, but as long as we hover around that 80% mark, I think we are doing very well. That's also the basis for our confidence in the long-term profit-generating ability of this business, which I alluded earlier. The EBITDA margin was a little bit better maybe than what even we expected going into the quarter. It was a function of the top line came in quite nicely with also services. It wasn't quite 20%, but 16% growth in services, very strong. That helped for sure together with the SaaS growth. Then when we look at the hiring, it happened throughout the quarter and of course increased the cost base, but that was offset then by the growing top line. Cash again a good position helps us with any potential M&A plans, et cetera. We are in a comfortable position financially. I touched already on what we did with the product, and I think, I again start with highlighting the over 30 quality and security improvements, the smaller improvements. Why I think this is important, and this is something where of course somebody could say that, "Hey, look, why do you need to improve the quality? Isn't the quality good enough?" But the way I look at it is that Efecte gets used every day by thousands of professionals for whom Efecte is their main software, for conducting their work on a daily basis. When you're that kind of a heavy user, small things do matter. We put a lot of effort on ensuring the best possible experience for these heavy users. That's why I think these quality improvements, the small things that often might get forgotten on roadmaps, carry such weight with them and we've already received very good feedback on them. The other one I'll highlight from here is next-generation self-service. What is that about? Next-generation self-service is about building a new self-service user interface for the Efecte software. For those who might not be that familiar with how Efecte gets used, there are essentially two user groups. There are the end users who type in requests. They might type in, "Hey, my printer is broken, I need help," or, "Hey, I got a question for HR. Can somebody help me?" Then on the other end, on the receiving end, there are the specialists, IT specialists, HR specialists, et cetera, who receive those incoming requests and then handle those requests and use the Efecte system for different automated workflows, for AI-based suggestions, for the communication with the initial person making the request, and so on. Of course, these two user groups have very different needs, so there need to be two different user interfaces, one for the professionals, for the specialists, and a more simple, easy-to-use one for the end users. What we are now doing with the next-generation self-service product is a complete rewrite and refresh of the self-service, the end user user interface. What's exciting is that we reached beta release status with the first version now, recently, and we have been able to start a couple of early, very early pilots with customers. We are going to continue to do that during Q2. The plan is that by the end of this year, we will reach a point where for many new customers, we will be able to deploy them from the get-go using the new end-user interface. It will increase our competitiveness. It will provide a better improved user experience for the end users and also this is not so visible but as a software product guy I think important stuff to mention, it will also streamline the Efecte architecture under the hood so that both the agent user interface and the end user interface run on the same back-end which carries many long-term benefits, then going forward. As you can see, many other good things here as well. With IGA, that's maybe the other one worth mentioning. Identity Governance and Administration, the IGA starter package, we got further proof for the product market fit through a couple of successful fast new customer deployments. With that we'll move on to discuss a little bit in more detail our growth and go-to-market and for that I would like to invite Stefan to join me here. Hello, Niilo. Hey, Stefan. How are you, my friend? Good. Thanks. Thanks for having me again and hello to all of our investors and everyone who's following up. I must say I'm waiting already for the Q&A session. Yeah. I think it's been a couple of good ones recently where I think it's been nice interplay with the audience online, all the questions coming in. Mm-hmm You know, we've had lots of fun. Yeah answering all those. That is true. ... again, a quick reminder, you can start typing in the questions. Tatu is collecting the thousands of questions. Mm-hmm prioritizing them and then we'll pick a couple of lucky ones to be answered at the end of this. Before that, Stefan. Yeah, let me cover two important slides. The first slide I want to cover is the two engines of growth. In the way how we look at our business every single quarter is that we start with, I mean, this picture is on an annual basis, so we start with an MRR year ago. After that, we basically take our churn. We do have customers that don't want to continue with Efecte and that churn could be also because of some other reasons. We add the growth from existing customers and the growth from existing customers comes basically from the customers expanding the usage of Efecte. They add for example additional use cases to the Efecte system. They expand with some of the solutions Niilo covered. For example the IGA solution is something that's been getting more and more traction in the market. There are also other solutions like Whistleblower and other ones we then add to the customer contracts. On top of that then we add new customers and that's where we even in the CMD a few months ago we talked about the increased investments in accelerating our new customer acquisition and that's how we then come up to that annual growth of MRR. Something to point out is the high net retention rate at 115% so without us adding any new customer we would have grown our SaaS business by 15%. I'm really happy we finished up our SaaS MRR at EUR 1,054 in the end of March so that brings and builds up a good base for our growth in 2022. Next one I want to talk about the go-to-market in Europe and outside Europe as well and we did have a really good solid start into the quarter. The demand for our core products, ITSM, ESM, and IGA, Identity Governance and Administration solution, stayed strong so we had solid demand from our existing customers but also from new customers and we're extremely happy that our international growth stayed at a healthy level, at 38% and we also added new customers in new markets. We got two new customers in the U.K. and we got one additional new customer in Poland and we went also live with new customers for example in Czech and Poland. We start to build the customer base and all of that customer base helps us to accelerate because then we start to have references in the market and so forth. Despite all of this new market, the new market investments and acceleration into the new market you know Finland did very well in Q1. Scandinavia and DACH formed the base of that international growth and those three key markets are kind of the core markets for us still. While these three markets are core direct markets we also said that we're going to start piloting specific direct markets during Q1 and we started actually a pilot in Spain during Q1. During Q1 we built a lot of the base into that market entry pilot. You can go to the Efecte.com, for example. We have full market presence on the digital channels. We have started marketing activities. We have started to test out different events. We have been at an IDC event, and we have done some other events. You know, we're going to tell more about that progress later during the year. That seems to be a good market. Digitalization is still picking up. Cloud penetration is low. There seems to be a good fit to the Efecte solution portfolio. We look optimistic how that pilot is going forward. You know, I'm really happy with how we ended Q1, so thank you a lot, not only to all of our customers, but also to our partners and to our employees on that side. We also continued expanding our partnership program. Recently, we have added an additional partner in Sweden. We have added actually a new partner in South Africa. We have one in the Eastern Europe countries. We added a partner in Germany as well. I think we're gaining steam in getting new partners online and, you know, that's always the first step. You know, our focus, especially for the partners we signed up last year, is now on enablement, partner enablement, channel enablement, joint sales, joint marketing, so we can get all of the partners to sign the first customer. After they get the first, we're going to get the second one and the third one. I look optimistically into that motion as well. As said many times, that motion takes time. We want to make it right. We want to ensure every single Efecte customer, even through a partner, a partner channel, gets a five-star customer experience, so we want to make that right, and that's going to take a bit of time. Overall, a really solid Q1. Looking really optimistically into the year. All right. Thank you, Stefan, and let's see what's still in between us and the Q&A. At least this slide. So if you've been on the calls, you've seen this before. Here we just summarize the long-term financial targets, our guidance for this year, which, as I mentioned, is unchanged. We reconfirm the guidance, over 20% SaaS growth and then positive EBITDA. Obviously we're not going to pay out dividends in the foreseeable future as we are investing in growth. I think that's pretty much it. Maybe there are questions on this slide. There might be questions on other slides, but let's get going. Yeah. Let's warm up the Q&A engines. All right. Tatu, what have we got? Yes. We've already got a healthy pipeline of questions, as usual, if there are any more questions, please write them in. Let's start with a question about the headcount. Your headcount grew by 23% year-over-year. Is the headcount growth sustainable financially and culturally? Okay, that's a good one. I like the fact that it's the question covers both the financial and cultural elements. Maybe I'll start, and you can chime in. Starting with the financial part, obviously if headcount grows in the long term, much faster than top line, then all other things being equal, that leads to decreasing profitability, right? Now year-over-year, we grew net sales, total net sales 20% and FTE headcount 23%. That's, of course, reflected then on the profitability. That's also why we talked about what kind of impact it will have on the ensuing quarters. You know, there is a reason why we have guided for this year positive EBITDA and not higher profitability levels. I guess in summary, the answer to the first part of question is that in the long term, of course, it's not sustainable to grow all the time headcount faster than total net sales. Right now, in line with the new strategy, right now for this year we are in investment mode, and as you have seen from the top-line development, it has also quite nicely evened that out so far. What comes to the cultural piece, with onboarding lots of new people, it is, of course, a very important element. How can we maintain the great culture we have? Maybe Stefan- Mm You can tell some, you know, examples of that. Yeah. Really, I mean, that's also a really valid question because Efecte is built out of the team, out of every single employee we have. Therefore, it's important we all, you know, feel we are Efectians and we work against and across at the same goal. While we have hired a lot of people, I think we really try to do our best into the recruitment process. You know, when the new employees join, they have the opportunity to meet with a lot of Efecte employees, so also the employees know, like, what kind of culture they're coming in, and I think that's one important part of that process. Secondly, I think then when we get all of this amazing talent into our team, we then try to use a lot of effort in our onboarding to talk about the values we have. For example, we do this official onboarding every single month. Is it Monday? Monday is the first day of the month. We're going to have new starters again, and all of that new starter week starts actually with me kind of inviting kind of welcoming everyone to Efecte. We have a two-hour discussion about Efecte, who we are, what are our values, how do we work here, you know. I think that's an important like example of how we get people in. So far, I think we have been really blessed to have so many good people joining us. Also, I think our existing team is doing a really good job in welcoming everyone and getting everyone to work against the same goals. Just to add one more thing, kind of emphasizing what you said about the recruiting process. In a growth business like ours, it is so important. What we experience every day here is what we call the paradox of growth. At the same time, great things are happening, results are being delivered, and growth is created. At the same time also, a lot of chaos and, you know, things falling apart as we grow again, to bigger kind of scale and processes that need to be adjusted and even bigger customers that we need to be able to serve at the same high quality level. We really try to find people who are comfortable with that paradox of- Mm Growth and want to be in this kind of a environment where kind of, you know, the direction is up and speed is fast. Yeah. I mean, we have been growing 18 quarters, 20% our SaaS revenue, so that means that the company's much bigger than it was 18 quarters ago. I think that's the thrill, I think, when people join Efecte, so they can become part of this growth story. They can feel what it is when we bring European software into the market, and we win customers, and we really become that leading European alternative in our space. I think it's also a great opportunity for employees to join. If there any kind of potential employees on the other side, you just go to our website. There are plenty of jobs open, and definitely you can reach out to me and Niilo if you are interested. Happy to have a chat. Yeah. Why lose a good recruitment opportunity? Yeah, totally. There is still room in our inboxes. Yeah for a few more applications, right? Okay. Well, you know, Tatu, good pick for the first question. You know, it definitely struck a nerve. All right. Next up, can we expect the services growth to continue at the 16% level throughout 2022? We have not guided services growth and not going to start guiding it now. What we've said many times is that we see that services have a very important role in this equation. It's not the main outcome we are looking for. Mm. You know, we're not in here to maximize the services growth and every euro from that business, but it does play a very important role in helping our customers digitalize and automate their work. Deploying Efecte, configuring new processes on Efecte, and further developing that configuration as their needs grow and evolve over time. What we have seen now in the past year or so has been. I would call it exceptionally fast services growth, especially last year. It was against a relatively soft comparison period. When you look at 2020, that was the COVID Kind of COVID year when services dipped a little bit. But I would expect services growth also in the future, even with our partner ecosystem growing. I would also expect that services growth will be clearly below that SaaS growth as well. You know, whether it's 5% or 15% or, you know, pick your number, there might be even some seasonal factors involved. All right. Next up, what% does your biggest customer cover from the total sales, or does it change a lot quarterly? Stefan, keep me honest here, but I believe that we don't have any one customer who would account for more than 5% of our SaaS MRR. You are right. Great. We agree on that one. Yes. You know, the largest customer is. Mm is somewhere roughly 5% but not above. Yeah. Not above that. That's SaaS MRR, right? Yeah, SaaS. Yeah. From the SaaS MRR. Yeah. I mean, professional services, it varies a bit because it depends a bit on the customer approach as well. Yeah. There might be one big massive deployment. Mm one quarter, and then next quarter. Yeah It's something else. Did we answer the question, by the way, Tatu? I believe so. Okay, good. Good job, Niilo. All right. Hey, next we have three different questions on LTV/CAC, but I'll pick one of them. The LTV/CAC was roughly twice as high as the five level you typically have. I suppose Kela is one of the factor, but the LTV/CAC increased relative to Q4 as well. What is the driving force behind the improvement? Let me first frame it, just kind of break down the mathematics behind. We are aligned on that, and maybe Stefan, you can comment then on the actual new customer- Mm acquisition velocity. It's a rolling 12-month metric. Right. What that means that when we compare now the figure we released now for Q1 versus the figure we released in Q4, it essentially means that in that comparison period, Q1 was added, and then the Q1 from the year before was removed. That's kind of the. There are three overlapping quarters still in that metrics. In a sense, it's the difference between kind of Q1 this year, Q1 last year. Yes, the Kela deal definitely played a role there. It was closed H2 last year, so it is in that rolling 12 months period. Anything you want to add? No, I mean, you have basically the long-term value of the customer, then the customer acquisition cost. I think it just probably demonstrates the good kind of equation we have in our SaaS business. I mean, people, I mean, you look around in the internet and on sources, people tend to say that, you know, when you are above LTV/CAC of five, it makes sense to invest into new markets and into new business, and I think that's what we are doing. Yep as part of the new strategy. You know, we have increased our team 23% more amazing individuals into Efecte, and we are making steady progress. Okay. Good. We got another question on the same topic, I guess. Yeah. They were more or less exactly the same question. Yeah. I will skip the two more or less identical questions. We also have two questions on the topic of Spain. Let's start with this one. You note that you started a market pilot in Spain. How is that proceeding? How did you end up selecting Spain? Stefan, you want to take that? Yeah, I mean, we have done. I mean, as a background, during the past 18 months, we have done a lot of market research across Europe, and, you know, we have been openly talking about the fact that we have been starting to kind of expand the partner networks. We had tens and tens of partner discussions across all of Europe, and part of that process, we have learned what are the market dynamics in specific markets. In a way, there are markets in Europe in which we can go purely with the channel approach. Like, we can go with channel, and customers are going to buy Efecte solutions from a partner. But then there are markets, especially the bigger European markets with their own language, strong language areas. Mm-hmm If you want to enter those markets, you need to have your own people, own kind of, for example, Spanish-speaking people, and then you need to have channel to support that. There's a set of countries where this is, it needs to get done. You know, you have France, you have Spain, Italy. I mean, UK talks English. In a way, if you kind of boil that down, you know, we want to become the leading European alternative, and if you want to go there, we need to start from these countries. That's one angle. The second angle is that if you look at the Spanish market overall, you know, the Spanish market, they are just starting the acceleration on digitalization and automation. Their cloud penetration is still relatively low. It's where probably Germany was a few years back, and Finland even a few more years back. There's a huge opportunity coming into cloud-based solutions. There's a lot of legacy on the market areas there. You know, we have had also the luxury that we do have local Spanish-speaking employees at Efecte, which helps to kind of go into that kind of market pilot. I think those are the kind of considerations into that. Anything you want to add, Niilo? Well, I think you covered it well. Of course, the next step now is we run the pilot, and we learn more. Based on that, we make decisions on, you know, how to- Mm-hmm how to proceed. Yeah there. So far, looking very interesting as Stefan mentioned. Yeah, I mean, I spent quite a while in our Capital Markets Day talking about the template of growth. Mm. In a way, we have this template on how do we go into a channel market. We have a template how to go to a direct market. Mm. You know, we have done that in Germany very successfully. We have done that in Sweden and Scandinavia. Now we are kind of looking at that template, and we're going to see, okay, how does this template work in Spain? What do we need to adjust, and how do we go to market? I think we have a lot of experience as already doing that, and a lot of proof that we can do it. Mm. Maybe the one more kind of angle to kind of bring back to that strategy discussions we had a bit earlier in CMD. By the way, all the CMD materials, presentations, recordings of the presentations are available on our investor website. If you haven't had the chance to watch any of that, highly recommend if you want to learn more about Efecte and our plans. All right. Next up before moving on to the next question, just a reminder, we still have a handful of questions, but if you have any more, now is the perfect time to write them in. Continuing on the topic of Spain, something you might have a bit alluded to, but still, do you expect to add local personnel in Spain? If yes, when? Oh, good question. We have not yet made a decision on that. We made a decision on a pilot, which we started and which is now running, and we are conducting it based on Spanish-speaking people we have here in Finland and who, when needed, visit Spain as well. We assigned a local partner, and this is what we have as of today. We will evaluate now during the course of this year how the pilot goes and make decisions on further investments like establish an Efecte entity in the market and hiring local people then based on the traction that we will see. All right. Good. A question to Niilo. How do you feel the stock market appreciates your stock at the moment? Oh, man, that's a question. I'm happy I don't need to answer that. I'll start off with explaining how we here at Efecte think about it. It's really simple. How the stock market appreciates our stock on any given day in the short term, that is outside our control for the most part. What is in our control is the product we build, the service we deliver to the customers, and the growth and profitability that we create as an outcome of that. We tend to focus on the things that are in our control, and that's why we focus on building the product and delivering it to the customers with a great experience, and then selling it to even more customers. We're in this for the long term, which means that if we wanted, we could run this business at higher profitability levels right now. In the short term and probably for the midterm, it would work out quite well, and maybe somebody would say that, "Hey," because right now people value that immediate cash flow, you know, they would appreciate us more for that. We're in this for the long term, and that's why we're sticking to our plan and investing in the things that will make us the leading European alternative in service management. Thanks. There is two more questions left, so this is the final call for any additional questions you may have. The next question: What is driving the positive trend in recurring gross margin? Maybe we should start with how do we calculate it first, and then. Go ahead. We basically look. I mean, that equation has two elements. We look basically the revenue we get from our SaaS service, and then on the other hand, we look all of the costs that are related to running that SaaS service, including the hardware, cloud cost, plus also all of the support costs related to that service. I think the equation is clear. You know, our MRR is growing faster than the costs that are needed to provide that service, and that's what drives that improvement. You know, that improvement was not that significant. I mean, a few percentage points that, as Niilo said, if we're around 80%, we are really happy. Really happy. It, I think, also proves the underlying kind of scale. Yeah ... kind of the- Profit-generating ability. Yeah that this business model, really has. Mm-hmm. And, uh- And- I don't know if you mentioned it, but the third- party kind of cost of goods. Yeah. Yeah sold is also part of it. Yeah. There is a point around that which I want to make, and we have been increasing kind of the or broadening the product portfolio we carry with a couple of key partner solutions. Mm-hmm. Our customers appreciate that. It sort of, kind of, completes the portfolio from their point of view. I think it's a good sign here that even despite adding some of these third-party things, which we resell as part of our solution, we have been able to still, Mm-hmm you know, grow and maintain that recurring gross margin at that around 80% Mm-hmm Around 80 level. Yeah. Maybe just my perspective is that, you know, the definite goal is not to optimize that number to the last digit because in the way we want to provide a five-star customer service to all of our customers, and that means that for us to provide that service, we need to continue hiring new people into customer service, into support, into second level. You know, you will get new customers every single month. That also means that, you know, we want to keep the service high, on high level. We want to provide that unique experience being an Efecte customer. I mean, even during this year, we have hired multiple new people. Yep into our service desk and into our support services. Just a perspective there as well that it needs consistent. Sure Yes, the investments. Yeah. It's a good point. Maybe just to summarize, economies of scale ultimately have helped us grow that recurring gross margin. Good. Thanks, Niilo. Thanks, Stefan. For the final question: Any specific focus areas for Q2 and H2? Q2 and H2. Okay. It's a complex two-part question to wrap it up. Why don't we do it kind of one and one? Mm-hmm. Stefan, what's the first thing that comes to mind for you for Q2? Let's start with the short term. I mean, Q2 is well underway, so the first month of Q2 is already done. I think we focus on what we do the best. We serve our customers. We try to keep good care of our existing customers. We, you know, we do a lot of marketing. We do a lot of sales to acquire new customers. Thirdly, we're expanding our partner network, our channel network, and building the capabilities of, for the future. Investing in things that we do today that are going to bring growth in the next 3 quarters, 4 quarters, 5 quarters. Customers, partners, and also employees. I think that's another important piece. We have a lot of training going on and all of all kind of that kind of stuff. Yeah. The personal development program. Yeah that recently Nina and the team built, I think super important initiative. Yeah. All the leadership training we do for our growing Mm group of people, managers. All these investments into Efecte people and culture are key. Yeah ... I see you've covered the four strategic cornerstones really well. Growth and- Mm ... people. You left for me product and M&A. For Q2, I expect continued progress. Mm with the next-generation self-service program. Mm. Actually, I think that's something where, let's look at how we could cover that maybe in the either the half year- Mm earnings call or in the Q3 call. I think it would be really nice to give you guys also a little bit of, you know, maybe a quick demo or something so that you can see what Mm What the team has been working on. Yeah, in terms of M&A for Q2, we just keep doing what we do there. Yeah, I think that's it for Q2. Yeah. Exactly. We do what? We focus on customers and the product, and that's what brings us forward. For H2, let's cover the other part of question. Anything special then that you would? Other than that, we do what we do. Yeah. Anything kind of special you would highlight for the rest of the year? Like, what are the tricks or in the hat? Something that I'm really excited about is our Digitalize and Automate event. We started that event in 2021. No, 2020 already. We actually got over 1,000 people across Europe to join us to talk about how we can and how we should digitalize and automate in Europe, how we are building European competitiveness, and we were really proud of that event. We doubled down in 2021, so we had almost 2,000 people joining us, both business professionals, both students, into talking about what does it take to kind of bring digitalization forward. I'm really excited that we are building the Digitalize and Automate 2022 event right now. That's going to be a bigger event than ever before. I think we're going to focus on really concrete steps. What have our customers, partners done to digitalize and automate their processes? How can we build long-term sustainable growth into Europe? How can we bring public sector and companies forward as Europe? How we as Efecte have helped to do that? That's something that's going to come in 2022, and we are going to actually start marketing that event pretty soon. I think that's another great opportunity for all of the investors to join and hear what's bubbling under the hood. For all our best friends here on the line. Mm Is there maybe a date they could already pencil in their calendars? Yeah. It's the 24th and 25th of September. It's going to be half day on the 24th. That's going to be a bit more business context, and keynote day. 25th of September, that's going to be a product, solutions, and customer day. Now I need to just double-check. Mm with the calendar can check. I believe if my math works. Mm 24 and 25th is Friday and Saturday. Okay. Maybe I need to check the calendar. Let's double-check. Yeah so that people can mark their. I want- It would be such a shame if somebody misses. Yeah you know, the event of the year. Yeah. Thank God for mobile phones. Just hang in there. Yeah. We'll soon get there. I believe it's the 20- Oh. Oh, okay. 21st, right? I did a mistake. 20th and 21st of September. Yes, 20th and 21st of September. All set. The other story holds. No change there. Yeah. No. I love it. I'm looking so much forward. Yeah, yeah. to that event. I hope. I mean, yeah, you all who have been owners of Efecte along with the ride, I just want to thank you for your support and for being part of this story. If you want to do something concrete to help us forward, it's a good way to help us by spreading the word about the Digitalize and Automate event and making sure that, I mean, we got a pretty broad target group, and Mm Efecte has multiple use cases. We are looking forward to having again a big audience there in September. 20th and 21st. 20th and 21st of September this year. Good. Efecte Digitalize and Automate. Good. I think it's time to wrap it up then, right? We will do it. Hey, thanks again for tuning in and speak to you then again latest at the half-year earnings call in a couple of months' time. Happy weekend. Happy 1st of May, and Hey, hey. Take care. Bye.