Hi, I'm Jerker Salokivi from Evli's Equity Research Team. I'm joined today by the CEO of Innofactor, Mr. Sami Ensio, joining me from the U.S. Hi, Sami. Hi. Hello, hello. Nice to be here. Sami, Innofactor released its Q1 report today. Could you walk us through the results? Yes, absolutely. Quite nice quarter, I would say. The revenue growth was almost 20%. We achieved EUR 20.2 million revenue. Second time in the history of Innofactor, about EUR 20 million in one quarter. Very good result there. Also profitability was decent level. 12.3% EBITDA level and EUR 2.5 million EBITDA. Growth was more than 20% from last year, so nice thing there also. An order backlog EUR 76.3 million, almost 7% growth, and also number of employees were growing more than 13% from last year. Basically quite nice numbers, I would say. Yeah. One thing you noted in your Q1 result report was the improved billing rates and overall improvement in efficiency- Yeah which maybe stemmed from last year when you had some challenges. How is this kind of affecting now your financial performance and how much can you still do on that front? Yes. This is super great that we could keep the same level what we achieved last quarter last year. Of course, there's still possible a little bit improve that, and so a few percentage points, I would say, and we try to do that, but it's not easy. It's harder and harder when you try to increase it more. I trust that we can do a light improvement during the year, but not significant improvement. Of course, in first half especially, it affects also growth of the company because, when we are doing more, billable work, of course, we can get more revenue. Second half, we were already quite good level last year, so maybe the growth does not come too much from invoicing rates anymore in second half. Basically it's important, and I'm very satisfied that we have improved it a lot and could keep that quite good level anyway. Yeah. You also noted that the kind of your sales mix has continued to shift away from projects and now you've also recently seen quite notable success on your own product portfolio. Yes maybe namely the Dynasty family. Could you tell us a bit about this and how this may potentially affect your profitability? Yeah, absolutely. It's effect in two ways. It should help our growth and maybe especially profitability when you sell your own products and IPs and licenses and SaaS type of software as a service type of things. It's typically more profitable than selling consultants' work. I see that it's a very important and very significant thing in our strategy, but it won't happen quickly. It will take probably a few years to go from that level where we currently are, about 27%-28% to that 33% what we have defined our targets. It won't happen this year, but it will take a couple of years to go there. We are working for that, and I'm sure that we can achieve it in long term. Yeah. Now, more recently, based on the kind of collective labor agreement negotiations here in Nordics, we are seeing that the wage inflation remains quite prevalent. Do you consider this a challenge, and are you able to transfer the prices or price increases? Yes and no. In our maybe 50% or a little bit more of our contracts include some kind of index increase type of thing, and it's about in the same level what we can do there for what our increase of salaries are. Basically we can do that, but not for all customers and all contracts. Typically, especially some ongoing projects, they are like fixed price in that sense that we cannot increase them. Services and that kind of things, it is possible to increase about in the same level how much salaries are increased. Yeah. Now maybe looking a bit at your long-term financial targets, they're, let's say clearly more ambitious than your current levels of financial figures. Do you currently consider these growth and profitability figures? Are you satisfied with them? If not, what actions are you looking to take in the near term? The growth number, I'm quite satisfied. About 20% growth level, I think we do not need to grow more. If we can keep that level long term, it's fine. We have defined it in our strategy that that's about the level where we want to be. The profitability, I'm not satisfied our profitability level. It should be about 20%. Now we are in 12%, 13%, something like that. We must improve that. We have some actions how to do that, and we try to work hard to achieve that. All right. Well, thank you, Sami, for walking us through the results and answering my questions. Thank you. We look forward to hearing more from you in the future as well. Thank you. Thanks a lot. Thank you.