Good morning, ladies and gentlemen. Welcome to the Bango Plc Interim Results Investor Presentation. Throughout this recorded presentation, investors will be in listen-only mode. Questions are encouraged. They can be submitted at any time via the Q&A tab that's just situated on the right-hand corner of your screen. Please just simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company will review all questions submitted today and publish responses where it's appropriate to do so, and these will be available via your InvestorMeet Company dashboard. Before we begin, I would like to submit the following poll. I would now like to hand you over to CEO Paul Larbey. Good morning, sir. Good morning. Good morning, everybody, and thank you for joining us first time on a Monday morning, but good way to start the week. We're pleased to be here to present you our first half 2023 results which we published this morning. In the room, you've got myself, Matt, Anil, as well as Rebecca, who will be managing all the different questions. Again, do encourage everybody to please engage. It's much better to have an engaged Q&A session than us just to sit here and listen to our own voices. Please do engage via the Q&A tab. We thought we'd start, we'll do some brief introduction highlights. Matt will then go through the financial results, and then we'll spend really a lot of time talking about strategic focus, centered particularly around the Digital Vending Machine. That's really where we see the growth opportunity. We're really going to zoom in on that this time and then give a little bit about what we see in the future moving forward. With that, hopefully you've had time to look at the RNS that was published this morning for us. I think one of the highlights of the half is basically, is not reflected in the numbers, and that's the footprint that we're getting from a Digital Vending Machine perspective, particularly in the U.S. We now have three out of the top five U.S. telcos. That gives us access to over 60% of U.S. consumers from a Super Bundling perspective. Really exciting sort of market traction and very quickly Bango's becoming the de facto platform for Super Bundling. You can see that we continue to add over 20 new merchants in the first half of the year. Really great traction from a Digital Vending Machine perspective. The Docomo Digital integration is almost complete. We executed on 19 out of the GBP 21 million synergies. You'll see some of those cost benefits deliver in the second half and through into 2024. Overall, really good revenue growth, 88% revenue growth combination of our organic growth as well as our inorganic. Maintain the high gross margin and that normal sort of 40/60 revenue split that we have first half, second half, coupled with the synergies from the Docomo Digital integration, which will be realized from an EBITDA perspective in the second half, means we're on track to meet the consensus expectations for the full year 2023. With that, let me turn you over to Matt to walk through some of the numbers. Thanks, Paul. Morning, all. Just like to run you through some of our first half 2023 numbers. Starting obviously with the revenues. Another period of increased revenues, up 88% from last year's first half in 2022, but also up on second half of 2022. That's giving us a 42% CAGR over the last five years on the halves. Again, really good revenue growth being experienced through Bango. Again, as a measure of that, we introduced the ARR as a measure at the end of last year. That one you can see is up 63% from last year as a result of the DVM growth that we've seen, and Paul will talk more about that increase later on during the slides. This growth is driven by the payments and subscription revenues, the DVM contracts that we spoke about, including the tier 1 U.S. telco that came on during this period, but also the contribution from the Docomo Digital acquisition that happened last year. All of this revenue, again, still continuing to be at a good gross profit margin at 90%. It's then helping us to drop those increased revenues down to the bottom line. Obviously, with that one, our EBITDA for this first period was a slight negative at minus GBP 0.2 million, but this is obviously reflecting a lot of the costs that we had acquired as part of the Docomo Digital acquisition, which we expected to have. It was in our acquisition plan. We continue to reduce those ones and have reduced those during the period, as we'll speak to in the next slide. Obviously, just an obvious point that H1 2022 there had no Docomo costs. The acquisition didn't complete until the end of August of last year. On top of that, we're also continuing to invest in R&D to support the DVM growth, that's been a continuing factor and will continue during the course of the second half of the year. That brings us to the operating losses, again affected by those increased personnel costs and the costs associated effectively with bringing in quite a largely overinflated company in Docomo. We're trimming those cost areas down. Paul referenced those cost reductions a little bit earlier. Now if we go to the next slide, we'll see where we're getting those GBP 21 million of cost synergies from. Obviously, one of the main items is removing all of the contracts that have been migrated across to Bango. All of those are now sitting with Bango. We've already done some exits from various countries and from offices, reducing the fixed cost spend that we have, that's a continuing action. We have several other countries where we'll be exiting and where we'll be reducing costs from those ones. We've also taken on board and reviewed a lot of the other low-value complex routes that were on with Docomo, which we indicated that if they weren't contributing sufficient revenue, we'd close those ones down. We've started reducing those already One of the main items is obviously headcount reduction. We identified that the acquired Docomo business had quite a lot of additional headcount that we didn't feel was essential for the combined operations as it moves forward. Again, as we start to reduce the offices in the country sites, that headcount reduces further. Another item in those ones is business simplification. We were taking two companies which have different systems operating together and different ways of working. We've brought them together to unify them into the Bango way of working. Key example, obviously from my areas, we had a couple of different accounts systems that we've brought together into one system now, which enables us to just be a lot quicker and reduces our costs as well. The other item is the actual full group migration to the Bango platform. That one's on an ongoing basis, and we said it would be 18 to 24 months from the acquisition, and that continues in line with our expectations of those items. We still expect to complete that one next year. Down below you'll see those movements on of the executed and identified but not yet executed costs coming up to the GBP 21 million for the end of December. In relation to cash, you can see there obviously our intangibles build through our R&D capitalizations, one of the main sources of use of cash for this period. Again, bolstered by the loan proceeds from the MHN loan, which is something that was indicated when we first did the acquisition of the business, that we would be potentially looking at a loan to come through to resource us during that period. That one's helped to keep our cash at a good level coming in at GBP 13.3 at the end of the period, obviously including that loan. A bit of an indication of the last four years of income statements for the first halves. 49% CAGR over that period. Our gross profit margins dropped down slightly from previous periods, but this is as we have the two platforms, the Docomo platform and the Bango platform. As those move across to just purely the Bango platform, we expect that gross profit margin to build back up again. Administrative expenses in that first half obviously reflecting the combined operations that came through with Docomo costs that were still in existence that we've reduced through the synergy actions. We're expecting to see those ones drop down and that obviously impacts EBITDA. With that I'll pass back to Paul for strategy. Brilliant. Thanks, Matt. As I said, we'll focus very much on the Digital Vending Machine. Before we get into sort of the Digital Vending Machine itself, which is the Bango product that addresses this Super Bundling market, we wanted to step back a little bit and look at the broader subscription market. There's all sorts of reports and you'll have seen us sponsor reports along with Juniper and Omdia, and a few other companies over the past six months. I don't think there's any doubt that the subscription market is really growing. If you look at the Juniper forecast, that's going to grow to around GBP 600 billion just for digital subscriptions by 2026. A real fast growth market from a market that was around only GBP 100 billion back in 2018. One of the drivers for that is that as users we're taking even more subscription services. If you just look at the top 10 countries and look at the average number of subscriptions we all have, it's jumped dramatically between back in 2018 and 2026, where we're expected to have between four and five services per person. That's an average, so that means a number of people have much higher than that. Again, this is not total subscriptions, these are just streaming services, which tend to be the higher value, higher price subscription offerings. An increasing portion of that is starting to be delivered through telcos, that's where we're going to focus on a lot in the rest of this section is really why telcos are really good at bundling. You can see already this year they do a big chunk of bundling of subscriptions, around GBP 25 billion worth. Again, this is just on the SVOD, the subscription video on demand services, but that's set to almost double by 2027. We're in a market where the subscription market's growing and it's been increasingly delivered through channels, that's really the combination of these two markets, where we're operating with and where the Digital Vending Machine really sits at the intersection of those two. If we step back and look at sort of bundling, especially from a telco perspective, if you've been around long enough you would have remembered when voice at home was separate from your broadband at home and telcos looked to bundle those two together. Some of them that had a mobile operator looked to put your mobile plan along with your voice plan at home, along with your data plan at home and created what was at the time called triple play. Right? That was one of the big discussions in the industry if you've been around long enough, was this telco bundling all these different first party services together to provide you all your connectivity, be it at home, on the move, be it voice, be it data. Telcos naturally moved to almost this what was at the time called quad play, where they started to bundle third party services together, but in effect on a set top box. They would go out and buy content rights, buy the wholesale rights, put that together and deliver you a TV service on your set top box. Again, you could bundle with that voice and the data and the mobile services. We went from a triple play to a quad play services very much by telcos buying into the wholesale rights. We saw the likes of BT Sport and other telcos start to launch content channels and sports channels really to capture that growth and to enhance their broadband proposition at a time when fiber was being rolled out really quite aggressively. Move on a few years and the emergence of Netflix and Amazon and all the over the top streaming services, we started to see telcos look to take one or two of those services and connect it with some of their subscription tiers. Quite often you would get if you go on a very high subscription tier, you would get a very high value subscription bundle. Maybe if you're on a lower tier, they would use a bundle to try and walk you up to the next tier. It was very much targeted connection of one subscription service with one particular either mobile or fixed broadband tier. That takes us to where we really believe we are today, which is where telcos increasingly taking more and more subscription services. Not taking one or two. We're taking tens of third-party services and making those available to you in a single place. Example there obviously being Optus SubHub, Verizon +play being another good example. We've coined the term Super Bundling for that, and that Super Bundling is really telcos in particular, but basically anybody offering a subscription marketplace where you can get all your subscription services in one place. Not just the video on demand, not just the gaming, not just the music, but the lifestyle services, the shopping delivery services, e-reader services, et cetera. All those different subscription services within a single portal. Why are telcos really well-positioned for Super Bundling? Firstly is, as I've just spoken about, they've been bundling for many, many years. They've always bundled different services together. It's part of their DNA. It's part of their ongoing business plan to put multiple first-party services together to differentiate the fundamental connectivity that they provide. They also have a really strong payment relationship, so a very trusted billing relationship with all those customers, and an ability to market to all those customers. They already spend significant marketing dollars marketing to their customers. To be able to bundle into that marketing for third-party content is a very small step. Finally, they have the funding to do this. If you ever ring up your telco provider and say you're ready to leave, you get all sorts of free things thrown in on top. They have the funding and the budgeting from a consumer acquisition and consumer retention to be able to entice you with new services and these exciting third-party services. It makes them a very strong bundler and very attractive to the merchant perspective. Why do they do this? They do this because it's a great way of attracting and retaining new customers. It's a great way of reducing churn, helps them drive up revenue. Don't forget, in all of these subscription services, they're taking a margin on all these subscription services, so they're generating more revenue, more margin, increasing their lifetime value, and fundamentally getting more engagement with you as a customer. It's really what telcos have been doing for many years, and really with Super Bundling, just supercharging that to be moved from a few services to tens of different services. Why the merchants? Why are the Netflix and everybody else and all the other merchants you see listed on this slide, why are they looking to really bundle those services, particularly through telcos? They're all looking for access to new markets. They're looking for new customers. They're looking for access to more customers. They're looking for customers who don't churn as much. If you give your credit card to a streaming service, obviously it's harder to get access in the first place, so there's a bigger barrier to sign up. It makes it easier to cancel, and a lot of the banks, et cetera, have services that allow you to find things are on your credit cards and automatically cancel. What really merchants are looking for is more customers and stickier customers, right? Somebody who will help promote their services. That's exactly what the telcos do, as we saw before. They have a trusted billing relationship. They're bundling multiple services together to create that stickiness, and they're investing in the marketing of those different third-party services to their own customer base. The advantage for merchants of using Bango is they immediately get access to all these benefits through hundreds of channel partners worldwide. Very much this connect once, access many that we've talked about many times before. You add on to that the ability to use the data insights we have to help them better target their marketing so they can target their marketing and get a better return on any marketing investment that they themselves do directly. Tools to help them increase conversion so it's not just people signing up, it's people signing up and driving it to completion and taking that subscription all the way through to activation. It gives them the ability to manage their subscription services through all these channels in a very simple way. If they want to increase the price, they want to add a new product, they want to add a super tier where you get HD and 10 devices that can stream that service. They can do all that, in effect, through a single click and make that access to all those channel partners worldwide. Again, that Bango platform benefit of connect once, access many really in evident to the merchants. Why are we winning in this market? I think fundamentally, if you look at the technology we have in the platform, some of which I just touched on regarding the benefits to merchants. We'll look at a bit more of that on the next couple of slides. It's really the key features to help launch a Super Bundling business. Not just launch it, but actually make it successful, right? It's not just about the connectivity, it's about launching it, and then once it's launched, how can you make sure it's going to be successful? That time to market, that's where the connectivity really comes in. If you look at the number of merchants that we have on the platform, an additional 22 in the first half. In effect, that moat of that barrier to entry of anybody else wanting to join the circle, it gets harder and harder because we have more and more of the merchants connected. There's a network effect with those merchants as well, because more and more of those merchants are recommending Bango to telcos. We've had a number of inbound leads this year where telcos have approached us having been referred by a merchant. The merchants don't want to do this work multiple times. They want to do it as few times as possible and take advantage of this connect once, access many. As a result, they almost act as an extended business development team and an extended marketing reach for Bango because they are referring telcos to us, and it works in reverse as well. Likewise, we get telcos referring merchants to us a lot. It works very much in both directions. We look at the SaaS model that we have. It very much makes it a lower cost solution than a telco trying to do it themselves. A lot of telcos, their default is still to look to do everything themselves. In every telco we've engaged with, in every telco we've won, everyone has done a business case to look at building it themselves versus buying. They've all done that build versus buy, and they've all ended up buying, right? The build is very complex, not just to get started, but actually to maintain. You have the complexity of engaging with merchants, many of whom don't want to engage directly, so you're going to end up connecting your self-build solution probably to Bango anyway. What's the point? Why not do it quicker, get to market faster, get more merchants, and launch more quickly using the Bango solution than really try to build it yourself. At our capital markets day back in September 2021, I showed this slide, which basically talked about if you look at payments, we look at sort of single service bundling, and we look at the Digital Vending Machine, where are we live and where are we in active discussions. These are the top 30 telcos outside of China. That was the position back in September 2021. If we look at where we are today, you can see that position is dramatically different. Much more active discussions, many more payments routes live, much more single bundling services launched or about to launch. Look at the DVM tab, you see the additional big wins in the top 30. You see now a good stretch of that top 30 where we have really active discussions, and one of the questions in the Q&A is about the prospect of getting the other 2 U.S. telcos as customers. Both of those other top 2 U.S. telcos have a pink, yellow highlighted oval or rectangle, I guess, on this particular slide dedicated to them. Really we are a really strong footprint across that sort of telco base, and that's where our focus is. There's a lot of runway ahead of us. We're in that point where we're getting coverage. We're bringing new logos onto the system. In the years to come, as those customers launch services, as we start to add more and more customers onto those services, and they start to increase through the subscription tiers, that's when that next phase of growth really comes from, and we call that sort of capacity growth phase. Which links very nicely into this. How do we make money? Some of this we may have talked about before, but we thought this was maybe a useful refresher in terms of how we charge for this and how we make money. When we sign a Digital Vending Machine deal, there's normally an integration fee that's normally somewhere six figures. That's to do the exact integration and to do the connectivity, and to give that operator everything they need to get them set up, ready to launch. There's usually a delay. That delay varies widely depending on the particular operator, it's largely outside of our control. The point then they decide to launch the services, the recurring revenue starts. You see it here in sort of period 8, we get that license starting. That license continues to start. You can see in a couple of periods later, in between period 9 and 10, that license revenue increases. That license revenue increases because they've crossed through that threshold. The number of entitlements has grown, so it's taken them through a threshold, and they've moved into that second license tier. At that point, the quarterly charge increases and the annual recurring revenue increases. Increasingly, what we're starting to do is deliver value-add features on top, we sort of term those as optional features. An example might be dynamic offer management to allow offers to be automatically created and customized to individual subscribers. It could be using some of the Bango Audiences to help the telcos to market the service. Really what we see there is we generally, again, charge a bit of a setup fee for that optional feature, then there's an incremental license fee moving forward, which is that sort of gold bar on the top of the purple in periods 11 and 12. That's the additional license fee from those optional features. It might not be one optional feature, it could be two, it could be three, it could be four. Increasingly, we're using the investment from R&D to create these optional features to not just add value to the platform, but to increase the recurring revenue and revenue potential over time as well. Fundamentally, if you sort of zoom back into the Digital Vending Machine and sort of look under the hood, you see a really feature-rich platform. It's not just about having all the merchants, connectivity. It's about how we manage entitlements. It's about being able to pause an entitlement and to resume that entitlement, be able to create these offers, so that when I walk up to a Digital Vending Machine, I see a different set of merchants presented to me than Matt does. We've also got to make sure we can charge all those onto a bill and really look at the data in the platform to make sure that we're really optimizing that subscription flow to make people who are eligible for offers are aware of the offers, they click on the offer, and they follow it through to activating that offer. There's really a whole host of intelligence really under the hood to really make sure, again, it's not just about launching, it's about launching a successful Super Bundling service. Much of our ongoing R&D investment is centered around the sort of features sort of under the hood. There are actually a number of features we've been developing and are now available. You can see screenshots here on the right, which are actually more front and center and more readily visible in front of the consumer itself. The big one being a user interface, so the ability for a customer to log on, and the actual platform that they see all the subscriptions, they see the offers, they're able to click through and launch. They're able to see what their total subscription spend is. They're able to see when it's being charged to their bill, when subscriptions renew, what other offers they could have. Could they save more by adding another subscription because it would give them a discount off all those existing ones? This sort of consumer access to this Digital Vending Machine is something I think historically we'd always imagined a number of telcos to build themselves, and that's what Optus with SubHub have done, that's what Verizon have done with +play. We see increasingly even some of the larger operators really looking to us to provide that sort of out-of-the-box solution, so that they can brand, they can put their logo on, they can change the colors, maybe move some of the panels around. They wanted a solution that allowed them to get up and running quickly. Again, they realize that if it relies on them building that's firstly very costly, but also importantly, it delays their launch, delays our recurring revenue. It's very much in our interest to provide these features because these don't just attract that optional payment fee, that optional feature fee, they also allow us to launch more quickly and to get that recurring revenue launched quickly. You see here the standard view of our default user interface. This is something we've launched internally within Bango. We actually launched our internal Bango Digital Vending Machine for employees, to be able to employees can log in and have different subscription services. That's our way of testing our user interface and being able to bring new features and, as employees of the company, being able to actually use the Digital Vending Machine, which start to eat our own dog food, so to speak, and then it allows us to test new features and to do A/B testing very quickly and on a very friendly audience. This is a product that's already in active use very much internally, and we have a number of telcos who are looking at this at the moment. In summary, it's all really about Digital Vending Machine. It's all really about execution. Our focus is on dominating that telco market. There's significant revenue available to us, not just from connecting more and more telcos, but as those telcos start to grow. Merchant growth continues. Each new DVM deal brings a whole host of new Bango merchants to the platform, which are then available immediately for everybody else who's already connected. We're going to try and reduce that sales cycle and that time to revenue with these new features, such as the user interface, to help telcos get up and running more quickly. As we move into 2024, you'll really see as the Docomo synergies are all done and dusted, as you get a full 12 months benefit of those, you'll start to see significant free cash flow generation, significant profit in 2024. Really, we're in a good place to meet the consensus expectations that are out in the market. Thanks again for your time this morning. Thanks if you're a shareholder, thanks for your continued support. Hopefully you're excited about the future as we are