Good afternoon from sunny Helsinki, Finland, and welcome to Revenio Group Second Quarter Earnings Call. My name is Jouni Toijala, and I'm the CEO of Revenio Group. In addition to me, we also have our CFO, Robin Pulkkinen, joining today. I'm going to start by talking through the second quarter highlights, and after that, Robin is going to go through a bit more thoroughly the financial numbers. Let's start with the sales. Excellent quarter for us, especially supported by the growth of imaging devices. The sales was up at 37.9%, so heading to the EUR 18.9 million. Really, if looking and comparing to the past performance, we actually had the best quarter ever when it comes to the imaging device sales. We are actually up about 20% even to the pre-COVID numbers. When we go back to the tonometers and probe sales, so in addition to the imaging device sales, also probes, where the probe sales was growing steadily, also the tonometers during the second quarter, also during the first half. If we do a bit more deeper dive to the products, DRSplus on the imaging side, growth was extremely strong. EIDON family, so the whole family of the products, there were a lot of growth as well. Also the perimeters and the microperimeters. That business was growing during this second quarter. That was valid across almost all the key markets where we are present. If we go to the bottom line, the EBIT part. The EBIT performance was EUR 4.4 million, up 28.7%. There we actually missed the consensus. Robin is going to go a bit more deeper on that side. A couple of items to mention there. One reason for that one was the sales mix. For the personal costs, we had one of personal costs in a bit of a hit from the foreign exchange rate. I would like to remind also that we closed the Oculo acquisition during April. As we stated earlier, we are going to invest to the Oculo SaaS platform. In terms of the relative profitability during this year and next year, the relative profitability is going to be lower compared to the previous years because of the investments going to the software platform. If we go a bit to the product side. From the product perspective, the second quarter was very active for us in the first half. We launched a new iCare HOME2 tonometer, and there are a couple of significant improvements. We improved the easiness of the use of the actual devices, so it's much more easier to do the measurements. Compared to the older home device, we actually had to use the cables in order to transfer the results from device then to the cloud. Now we are using the wireless connectivity, and then we also support the iOS app. The feedback what we have been so far received from the device, so that's very good, and it's actually already on the market in Europe, and we are in the process of applying the FDA approval for the USA. What comes to the imaging device side, we also have a new product coming out, so-called EIDON Ultra-Widefield fundus imaging device and also the lens, so that we are able to upgrade the functionality of the devices which are already in the field. With that feature, we are able to capture and increase the angle, 120 degrees with the single shot. If we use the mosaic functionality, the field of the view is going to be extremely large, around 200 degrees. As stated many times before, we are continuing to receive a really good feedback related to DRSplus. Currently, if looking from the product portfolio point of view, good feedback coming across the board for the imaging product, which is then providing the long-term growth for us as well. We believe, even though that we are sure that there has been some pent-up demand, especially on the imaging side, during the first half this year, but definitely the growth rate has been so high on the imaging side that we are definitely also gaining market share as well. With these words, I would hand over the speech to Robin. Over to you, Robin. Hello, everybody. My name is Robin Pulkkinen, I'm the CFO for Revenio Group. Go through the numbers a bit more. Like Jouni mentioned, second quarter, EUR 18.9 million in revenue. Like we stated, and Jouni mentioned, that the FX has been playing against us quite a bit. It's nearly a EUR 1 million hit that we took on the top line on the second quarter. Without that, we would've been quite close to EUR 20 million in revenue, and the growth would've been actually over 40%, so 43%, to be exact. For the first half as a whole, the growth has been extremely strong, EUR 35.6 million in revenue, with a 39.2% growth, and with the currency adjustments, 43.7% growth. On the EBITDA and the EBIT line, we have also the adjusted numbers here. For the second quarter, there wasn't much adjustments to be done, the adjustments we have here are basically the costs related to the acquisition of Oculo, so the transaction costs. For the second quarter, there was less than EUR 50K that we had. For the first half as a whole, it's almost EUR 700,000 that we have in the costs. Those have been adjusted out here. The adjusted EBIT for the second quarter, EUR 4.5 million, up nearly 30% from year-over-year. It's 23.7% out of the revenue. For the first half, EUR 9.7 million and 27.3% out of revenue with a growth of 65.7%. Like Jouni mentioned, the consensus and the expectation was probably a bit higher for the profitability for us. Just to open a few items, the FX, almost a million on the top line, but also that hit our bottom line by over EUR 400,000 for the quarter. The product mix, the imaging devices have been growing really fast in the second quarter, and their share of the total sales were actually quite high, and that, as we've stated earlier and quite commonly known, is that the imaging devices have a bit lower gross margin and kind of that product mix hit when you look at the year back is also quite significant when it comes to profitability. We had certain one-time personal costs, which will not continue going forward. Of course, the Oculo transaction that took place, and the numbers for Oculo have been consolidated since the 28th of April. We have pretty much two months in the numbers here. Some of the key figures, our equity ratio continues to be very strong. Cash flow for the first half was very strong, actually up 80% from last year. The drivers for that were basically the increase in net profit and the changes in the working capital. When you look at the net gearing, maybe there were the bigger changes is actually related to the Oculo transaction, which we paid in cash. The transaction itself was AUD 18.5 million, and in the purchase price allocation, we've allocated about EUR 2.5 million to the intangible assets and then EUR 9.5 million to goodwill. All this was paid in cash, which resulted in a lowering of the net gearing. Our cash balances went down quite significantly during the quarter. Main shareholders, there's not been much change over the last months. The biggest change in the go back 12 months from now or nine months from now are the U.S. ownership, which has been going up a lot. On the top 10, we have Columbia Threadneedle, Capital Group, Vanguard, BlackRock, some of the world's largest investors who've joined our ride over the last year. That's one of the bigger changes that's been taking place over the last year. Other than that, we have pretty familiar names on the list here. Yesterday, we updated our guidance. I just want to highlight here again that it's a full-year guidance. Even though we now updated it's actually still for the full year. The first half, we grew extremely strong, so 40% growth. When you go back, look at last year, that was a COVID year. The first half and second quarter especially, was quite weak, so it wasn't one of the best quarters for us. When we look at the second half last year, our performance was extremely good already there. As an investor, I would not assume to expect similar growth from us for the second half that we've been seeing now in the first half. The guidance here, even though it's a positive change, it's still a guidance for the full year. That's it from me. We'll go to the questions. Thank you. Robin. We received plenty of time for the questions. The floor is open for the questions, please. Thank you. Ladies and gentlemen, if you do wish to ask a telephone question, press zero one on your telephone keypad now. That is zero one to register for a question. I have a question from the line of Julius Rapeli from SEB. Please go ahead. Yes, thanks Jouni and Robin for the presentation and thanks for taking my question. Firstly, one regarding guidance upgrade. Regarding this upgrade, has the outlook or visibility for H2 for you guys changed in some way, or is this only a reflection of the super strong H1 you have now performed? Well, our tonometer business traditionally is we don't have that much backlog over there. In the imaging also, our visibility in backlog-wise and orders is maximum couple of months forward. We don't really have much visibility into Q4 and what that will be looking at that point. We have our assumptions and forecast, of course, but of course, it's also backed up by the extremely strong first half. That's the reasoning behind it. All right. Perfect. Thanks. One follow-up question regarding gross margin. You already mentioned the mix change in second quarter that was causing somewhat lower gross margin here. Do you see any headwinds from input material costs? On the other hand, do you see any issues with your supply of input materials? Yes. First, the cost. There's a clear indication that the costs are coming up. That's silver clear. We have been trying to tackle that one by making a bit more longer term commitments towards our suppliers in order to be a bit ahead of the wind so that we are a bit more aggressive of buying the components in and making the commitment so that we are able to keep the prices in a bit more better level in a near future when going forward. Then we have also increased proactively the stock levels, and we have made commitments in order to be able to guarantee the supply of the devices. Also, it's just a fact that there might be challenges what comes to the components. We have had challenges, an example related to the Bluetooth components, but we were able to solve that earlier this year. Currently everything is okay, these are the actions that what we have decided to do in order to control the costs, plus then the guarantee that we are able to have the products when the clients are needing them. In a one sentence, now everything is okay, but this is the weekly discussion with our operations team that we are able to perform well. All right. That's very helpful. Thanks. That's all from my side at this stage. Thank you. Our next question comes from the line of Pia Rosqvist-Heinsalmi from Carnegie. Please go ahead. Yes, hello. It's Pia from Carnegie. You said your imaging device growth was very strong in Q2, and you also said the tonometer business grew. Can you still clarify did the tonometer business grow, or was it only the probe business, or did both the tonometers and probes grow? Yes. Both probe business and the tonometers both were growing, of course not as much as the imaging devices. We had the really strong growth on the imaging devices during the Q2 and throughout the whole first half 2021. Okay. The home business, how is the HOME2 sales developing? Yeah, it's picking up if you look now it's easier to look not quarter -by -quarter in a way. We have been selling HOME2 devices, of course, during the Q2, but if you look as an example the first half 2021, there's a quite strong growth on the home devices as well. Of course it's so small amount still compared to the other business because the other business is growing so fast. Still more sales needed in a long run so that it starts really to move the needle. Yeah. Okay. Do you have any news on Ventica and Cutica? How are these projects developing, taking into account that you said at the CMD that your focus is on eye care business? When can we expect news on Ventica and Cutica? Not yet. We have discussions ongoing, but not major news to be released yet. Hopefully we are a bit more wiser when we go towards the end of the year, towards the end of Q4, Q1. Discussions ongoing, but nothing concrete yet. Okay, good. Julius asked about the input prices, but how do you tackle the situation from your sales price perspective? Are you able to adjust your prices also upwards or is the competition at such a level that higher sales prices are not possible? We actually have managed to get a slight price increase for Europe already. That's basically already done and implemented, and then of course, monitoring closely what should we do in the other parts of the world. I think the overall, there is a trend that the component prices are coming up plus the overall inflation. In certain regions, we already have had the price increases implemented. Okay. Still back to the costs, may I ask what caused the personnel costs to be exceptionally high now in Q2? We haven't really disclosed the reasons publicly for that, but it's kind of one-time costs that it's not tens of thousands, but it's in the hundreds of thousands. Okay. Maybe finally on your M&A agenda. Where do you stand on that point? You are, of course, integrating Oculo and investing into that business, but how active do you want to be on the M&A space now? Is it high on your strategic agenda? I think there the answer is yes, but we have to at first now take care that we do the proper work by integrating the Oculo. On the Oculo front and from the integration point of view, of course, the finance systems, those are okay. That integration is done. Almost the whole IT integration is done. Now we are forming up the joint solution vision, ending up the roadmap discussions and so forth. There the house is in really good order, and the plan is that we are going to finalize that one, and then as earlier, we are constantly screening and keeping the possible M&As high on the strategic agenda as well. That's in a way, a continuous work what we do. Anything, Robin, to add on this one? No. That's true. The possible targets are quite a few and far between. We need to keep the kind of momentum moving all the time. These transactions tend to take a lot of time, like we saw with CenterVue. We really haven't stopped at any point. Okay, good. That's all for me. Thank you. Remind you that if you want to ask a question, you will have to press zero one on your telephone keypad now. I have a question from the line of Juha Kinnunen from Inderes. Please go ahead. Hello, gentlemen. This is Juha from Inderes. I have a couple of questions that are regarding the future outlook, so you are probably excited to answer them. Could you give us any guidance on the sales mix going to the second half of the year? I am just wondering if this second quarter was exceptional, or is the similar mix going to continue? Maybe if I start, Jouni can maybe continue. If you look at last year, last year the imaging was really struggling the second quarter, the third quarter pretty much as well. Every quarter has been better as we moved on. Last year, still the second half was very strong. It was mostly driven by the tonometry, of course, which of course was also visible in the profitability and the bottom line. For the second half, it is going to be difficult to get very high growth for the tonometry, because last year it was extremely strong for the second half. I guess that's kind of my two cents for the future look, but anything to add, Jouni? I think nothing to add. Spot on. All right. Well, thank you for that. Second question. If I understood correctly, Oculo made an operating loss of EUR 0.9 million in the first half. Is this rate going to continue in the same level, or is it going to increase? We're following the plan in place, what we expect to receive on the top line. Of course, if the top line starts to pick up quickly, there's a lot of resourcing and then the kind of R&D needs that we will start to staff. We're very careful. We kind of follow the plan that the profitability needs to stay within the frames we've agreed, and what we've communicated out also that the impact on our profitability would be 3%-4% this year. We're kind of following that carefully. We don't want to be too aggressive upfront on hiring people and then figuring out that the revenue doesn't follow. We're kind of having our finger on the pulse on that one. All right, many thanks. Thanks, Juha. Our next question comes from the line of Okko Takkinen from Danske Bank. Please go ahead. Hi, Okko Takkinen here. Thanks for having my questions. They were mostly answered before. I would like to clarify, as you said that the sales mix has affected your margins. Can we expect a similar split in the future? It's a hard question. Our backlog is only a couple of weeks forward, so it's hard to say. The mix is different and then the growth is different. I think for the second half, I would assume the imaging to grow faster than the tonometry because the tonometry was so strong last year, second half. What the mix will end up being, that's something I can't really answer. Yeah. Hard to say on the detail level, but I think like Robin mentioned, so the trend is going to be following in a second half, so the imaging is going to grow faster than the tonometry business. I think that's perhaps fair to say. Yeah. There's an implication then to the revenue mix as well. Yeah. Okay. Thank you. That's all from me. Our next question comes from the line of Anssi Raussi from OP Markets. Please go ahead. Hi, Jouni and Robin. First of all, can you hear me? Yeah. Hi, Anssi. Really well. Hi. Yeah. This is Anssi from OP Markets. First of all, about your gross margin, we have had already a couple of questions regarding that one. I think when you bought or acquired CenterVue, CenterVue's gross margin was about 62%, and you were aiming closer to 70%. Could you give us any updates where you are at the moment, and are you closer to this 70% target at the moment? Thanks. This is my first one. Yeah. If I'll start, I think there's been a definitely positive development on the CenterVue side. There's not that drastic changes for the existing products, I think the bigger changes and impacts have come from the fact that when we released the new version of the DRS, the old DRS, for example, it had a higher bill of material, and it was a lower selling price. With the DRS plus, we're able to sell it for a lot higher price frame. It's a cheaper device to manufacture for us. Those kind of items are the ones where we see the bigger jumps in the profitability. Of course, we've also had more license revenue coming in from the CenterVue business, but kind of the devices that have been out selling, there hasn't been significant changes in those gross margins other than the kind of price increases, but the cost of materials have been pretty stable. Okay, thanks. My second one would be about these personnel costs you were mentioning a couple of times. Could you still quantify a bit more especially, are we closer to EUR 100,000 or EUR 800,000, or could you? Well, yeah. Give any more color on this one? It's hundreds of thousands, but less than half a million. Okay, great. Yeah, I think that is all for me. Yeah. Thank you. Thanks, Anssi. Our next question is a follow-up question from the line of Pia Rosqvist-Heinsalmi from Carnegie. Please go ahead. Yeah. Thank you. Thanks for taking the question still. I'm now thinking about the tonometry business again. I'm coming back to the second half. Is it fair to expect that actually due to the very strong performance in the second half of last year, there is a risk that tonometry business, I mean, the base tonometers are not growing in the second half? I think that currently if we look our view and forecast, so there's a gut feeling that there's still growth. If you look the forecast and if you look the budget, so of course we budget for the full year. Still in a way we are kind of hitting the numbers in terms of the growth for the tonometers for the full year. As Robin mentioned earlier, so the backlog is small, but I think that we still at least we have seen the growth. In first half, we have seen the growth in a second quarter, both for devices and both for probes. My gut feeling that I wouldn't make that statement right now, Pia. Okay. Thank you. There are no further questions registered at this time. Let me close. Okay. Hey, very well. If there are no more questions, so I would like to say a big thanks for everybody who was participating, and have a excellent continuation of the summer. Thank you very much, and bye. Thank you.