Good morning and welcome to ArcticZymes' 3rd quarter results. My name is Michael Akoh. I'm the CEO, and as usual I'm joined by Børge. Sørvoll, our CFO, as well as Paul Blackburn, our Chief Commercial Officer. The title of today's presentation is Strategy Execution Drives Strong and Profitable Growth. And that really captures the main message of the quarter. We're delivering strong sales growth, particularly within biomanufacturing. That is up 44%. a strong quarter. At the same time, over the last 9 months, we've been improving profitability. We've been strengthening our position with CDMOs. Sales to CDMOs more than doubled this quarter. We're also expanding our enzyme platform within RNA, and Paul is going to go through our new portfolio of RNA enzymes a bit more in detail. But in other words, this was not simply results. It's evidence that the strategy we presented at the Capital Markets Day is beginning to translate into tangible commercial and financial Next slide, please, Børge. I'm going to start out our presentation by going through some of the key highlights, and I'm also going to try to put the quarter into the context of our strategy. Then Paul is going to take us through the commercial performance and progress we're seeing across markets. and across our customer base. Then Børge is going to cover the financial performance, including the impact of currency. during the quarter. And last, I'm going to return with an outlook and also go through the progress in regards to execution of our strategy. And I'm also going to leave you with a couple of key messages. And last but not least, we are going to end with questions and end this session. Next slide, Børge. manufacturing workflows. in molecular tools. Let me start by the main message in the quarter. Sales revenue increased by 15% to just shy of $33 million. At constant exchange rates, growth was 24%. That really demonstrates that the underlying business performance is stronger than the reported numbers suggest. Biomanufacturing was a principal growth driver for the quarter, increasing by 44%, as mentioned. We're seeing that more CDMOs are starting to onboard our enzymes, and importantly, we're also seeing a growth in our GMP enzyme sales. That's important because it shows that our enzymes are being embedded in customers' programs, and not just in early development phases such as process development, but we are also being applied in lung cancer. Our proteinase is now being integrated as a critical component in an FDA-approved oncology workflow. And the customer is also currently working with additional applications within Finally, the quarter ended by us hitting a significant milestone. We entered the RNA therapeutic market by launching 2 enzymes, Ribocleave and Riboclean. So looking back at the first 9 months, sales grew by 23% or 33% at constant exchange rates. while EBITDA increased to €12.1 million. The overall picture is therefore one of strong underlying growth combined with improving operating leverage. Next slide, Børge. You've seen this slide a couple of times, but I think it's important to go back to it because it's a center pillar in how we are running the business. The logic behind our strategy is straightforward. We're evolving from being a product-oriented supplier of individual enzymes into a more customer-focused solutions provider. We want to understand the customer's workflow on a deep level. We want to identify where our technology makes a measurable impact. We want to become embedded in that workflow that the customer has. And we're applying that across the 4 strategic pillars. And this creates 2 important benefits. First, it allows us to expand within existing customers and applications. Second, it gives us broader and more diversified platform across markets, products, and customers. The strong biomanufacturing performance we saw. The continuing development of molecular tools, and the entry into RNA all demonstrate that this strategy is now being executed on. And we are seeing commercial progress and momentum, which is what Paul is going to report on. Next slide. Børge. Okay, so good morning everyone and thank you so much for joining. It's really great to have you all here, and over the next 20 minutes or so, I'd love to share 3 things with you. First, obviously, how we got on in the 3rd quarter in total, by region, and by segment. Second, where we're standing after 9 months. Because that's really where our story comes to life. And third, as Michael mentioned, the launch of our first RNA enzymes, which actually went live just last week. I'm really excited about that one, and I know you're going to be excited too. My message today is a really simple one. We've got real momentum, and where we know there's more to do, we know exactly what our priorities are. And I'm going to be positive. Because I think these results deserve that. But I'm also going to be honest, and, you know, where the areas where we've still got work to do, I'll mention that too. So let's get started. Next slide, please. In the 3rd quarter, we delivered sales of 32.9 million kroner, which is our best quarter of 2026 so far, and that's up 15% compared with the 3rd quarter of 2025. Or an increase of 4.4 million kroner. We did that against a currency headwind of around 7% compared with the same quarter last year. So at constant currency, our growth was 24% compared with the 3rd quarter of 2025. I think that's a really strong point. The demand underneath is even stronger than that headline number shows. Our customers are buying more enzyme from us. It's just that the exchange rate was not on our side this time. It's also our 3rd quarter in a row of double-digit growth. So every quarter this year has grown more than 10% compared with the same quarter 2025. Now, if you look at the chart on the left, you'll see that the 4th quarter of 2025 was 34.1 million kroner, which is of course higher than this quarter. I think that serves as a useful reminder that individual quarters can be bumpy and project-based. Order timing naturally moves revenue from one quarter to the next, so I'd really encourage you to look at the trend that is the chart on the right-hand side. This shows our 12-month average is now at a new high of 32.7 million kroner per quarter. That's up 34% from the low point in the 1st quarter of 2025, where it was 24.4 million, and it has risen for 6 quarters in a row. And every single quarter since that 1st quarter of 2025. And it gives us, if we look backwards, 128.5 million kroner of sales over the last 12 months. So that's 6 quarters of steady improvement. So it's not just a one-off good quarter. This is real lasting momentum. So next slide, please. Where did that growth come from? And the short answer in Q3 is Europe, which has been our Q3 growth engine. So Europe delivered 18.9 million kroner, which is up 26% compared with the 3rd quarter of 2025. It made up 88% of our total growth this quarter, and the main driver were CDMOs. These are our contract manufacturing customers that produce on behalf of pharma companies. Within that though, there was obviously some variation. For example, the UK was a little slower this quarter, and that's something we're keeping a close eye on. Over in the United States, sales were 12.1 million kroner, which is flat compared with Q3 of 2025. Let's be honest, flat isn't where we want to be. But the picture underneath is more encouraging. We mentioned previously US East had slowed down somewhat. That is recovering nicely as the H2 progresses. And at constant currency, the Americas are actually at 4.7% growth. So once again, currency is hiding some genuine progress and demand. And then just to mention APAC, I'm really pleased with this. I know the revenues are modest at 1.9 million kroner, but that is up 40%. Compared with the 3rd quarter of 2025. And that's driven by some larger distributor orders in India and China. We're actually also focusing on some really exciting projects in Japan where we have deliberately put more resources this year. So APAC is building nicely, and it's really nice to see that trend continuing. So in short, Europe is leading the way, APAC is building well, and the US is steady, but it's recovering as we predicted in previous investor calls. Specifically in the East Coast. Now, if we go to the next slide, we turn to our segments, starting with biomanufacturing. And honestly, this was a breakout quarter. Biomanufacturing sales were 18.8 million kroner. That's up 44% compared with the 3rd quarter of 2025 and up 18% compared with the 2nd quarter of 2026. It's our best biomanufacturing quarter since the 4th quarter of 2022 and our 3rd best quarter in the history of the segment. So the reason behind it is really encouraging. Our CDMO customers are moving into GMP manufacturing, and they're taking our products with them. In fact, 11 million kroner of this biomanufacturing sales this quarter went to CDMOs. Now let me walk you through the numbers on the right-hand side. First, GMP. GMP-grade sales reached 7 million kroner compared with 2.1 million in the first— 3rd quarter of 2025. That's up 227%. So GMP now represented 37% of this segment compared to only 16% a year ago, and that really matters because GMP is where customers are moving into clinical, commercial, manufacturing. So once our enzymes are designed into a GMP process, that tends to be lasting and repeat business. 2nd, Emsan continues to be our growth engine. It added 8.5 million kroner, which is up 165% compared with the 3rd quarter of 2025. And just to balance the picture, San HQ and Hlsan were slightly lower than the same quarter last year. And 3rd, and I've mentioned it already, CDMOs. Direct sales to CDMOs doubled and was up by 5.3 million kroner compared with the 3rd quarter of 2025. And if we look at sort of the broad base that we've got, 6 customers each bought more than 1 million kroner from us in the quarter for biomanufacturing. And they're all CDMOs, and most of them have been with us for a long time. And what this tells us is that we're growing alongside our customers. We're not just taking one-off orders. The 4th thing I'd like to mention is that the average biomanufacturing order size was at 75,000 kroner compared to 51.6 in the 3rd quarter of 2025. So our average order size is up 45%, and that's, that's what customers scaling up looks like. And finally, on new business, we welcomed 21 new paying customers across biomanufacturing this quarter. Next slide, please. So now if we move to molecular tools. So after a record run this quarter was a little bit of a pause but not a reversal, and molecular tools were 14.1 million kroner, which is down 8% compared to the 3rd quarter of 2025. But let me give you a little bit of context. Because I think it really helps. In the 2nd quarter of 2025, the business was at 8.6 million kroner, and then it grew all the way to 18.8 million in the 4th quarter of 2025. So 14.1 is for sure below that record, but it's still well above where we were just over a year ago. If we look at the first 9 months, I'll come back to this, Molecular Tools is up actually 39%. Compared with the first 9 months of 2025. And if we look at our 12-month average, it's up by 41% compared with, uh, 3rd quarter 2025. So what happened this quarter? Well, it comes down to timing of deliveries. So we took some purchase orders in the 3rd quarter, and we needed to repeat some of our production runs to allow delivery in the 4th quarter. So that revenue will be invoiced and recognized in Q4. If we look at other good news, all 4 of our key product groups are on track to grow in full year 2026 compared to 2025. We're showing a broader customer base, and we're showing strong growth across several key accounts. We've got more paying customers compared to the 3rd quarter of 2025, and this broader base makes our business stronger and more resilient. And less reliant on individual customers. So to sum up this slide, It's a pause after a record run, but the underlying tool— trend in molecular tools is still heading upwards, as I'll reinforce on the next slide. Next slide, please. So let's take a step back for a moment and look at the year to date as a whole, because I think this is the most encouraging picture of all. In the first 9 months of 2026, sales were at 96.6 million kroner, and that's up 23% compared with the first 9 months of 2025, or an increase of 18.1 million kroner. And at constant currency, growth was actually 33%. With both segments growing. Molecular Tools delivered 46.6 million kroner, as I mentioned, up 39% compared with the first 9 months of 2025. And biomanufacturing delivered 50 million kroner, which is up 11%, and it's really gathered pace in the third quarter. So every quarter is up on the same quarter last year. The first quarter up 37% compared to Q1 2025. The second quarter up 19% compared to second quarter, and the third quarter up 15%. The growth rate is easing a little because the 2025 quarters that we're comparing against were stronger, but each quarter is up as we keep moving forward. Other indicators are telling the same story. We served more unique customers in the first 9 months, and we increased our average order value. Metagenomics, which we haven't mentioned for a little while, has got sales that have gone up by 65% compared to the third quarter of 2025. Although the revenues are still relatively modest. So what we have here is broad-based sustained growth, and that's something we can all be proud of. Next slide, please. And that brings me to the future, and this is a part that I've been really looking forward to. On the 27th of October, just last week, we launched 2 new RNA enzymes. Riboclean and Ribocleave-1, and we have an early access program that is already underway. This is our first step into RNA manufacturing enzymes. And these launches have been a direct response to many customer opinion leader conversations. So they've been driven by feedback from the market. Because Riboclean is, uh, dsDNase, it builds directly on something we already do well, and it takes our expertise into a new and fast-growing area. Ribocleave-1 is the first ever site-specific RNA restriction enzyme to be launched by any manufacturer. So that's special too. If we could go to the next slide. Let me explain in simple terms what these products actually do. So enzymes are precise tools that help make RNA therapeutics cheaper. and faster to produce. We all remember from biology that DNA makes RNA makes protein, and it's really that, that RNA that is being used by drug developers, and that RNA is basically a set of instructions which tells the body's cells how to fight the disease. So the best-known example is perhaps the recent mRNA vaccines. So step 2 in the customer's process after they've made their RNA is to remove the DNA that has been used as a template for this production. That's typically plasmid DNA, or a form of double-stranded DNA. Now, Riboclean, we have demonstrated independently, does this using 10 times less enzyme. It cuts the nuclease cost per batch by more than 80%. The other critical thing here is because you're using less enzyme, there is less protein burden. that customers need to be concerned about. The 3rd step is to check the quality of the RNA so that it can be made into proteins. And to test that the RNA is correct, Ribocleave I cuts the, the RNA to check what we call capping efficiency, and it reduces the time to check this capping efficiency down from 6 hours to around 30 minutes. So put simply, we can help customers clean their RNA more cheaply and check it much, much faster. And when manufacturers are producing batch after batch That really adds up. So next slide, why does this matter? So first, for our customers, it allows them to manufacture at a lower cost per batch. It allows them to generate faster test results. And there is no negative trade-off. This— these products fit into existing processes, so they, they're relatively easy to adopt. And second, for us at ArcticZymes, RNA becomes our 3rd growth pillar alongside molecular tools and viral vector, and that diversification is so important as we build a more and more robust business. It's a large and it's a growing attractive market. And, you know, RNA is behind, behind not just mRNA vaccines, but a growing number of new treatments. Also, RNA production uses a lot more enzyme steps, many different enzymes compared to viral vector production. Which means that there's more to do for us to develop and supply different enzymes. for these processes. But I want to be realistic. We're very excited about this, but this is a launch and it is not a revenue line just yet. Our focus right now is on the early access program. We're getting our enzymes into customers' hands, we're building our evidence, and we will turn that interest into orders. So if I bring that all together, this was a strong quarter in a strong year. Q3 was our best quarter of 2026, up 24% at constant currency compared with the 3rd quarter of 2025. For the first 9 months, sales are up 23% compared with the same period of 2025. Our trend has improved now for 6 quarters in a row since the first quarter of 2025. Europe has been our growth engine in Q3, but the US is showing the recovery that we expected, and APAC is building well under our new focus. Biomanufacturing has had a breakout quarter driven by CDMOs moving to GMP, and molecular tools paused mainly because of these production reruns and delivery timings, uh, with Q3 orders taken for delivery in Q4. So our priorities for the 4th quarter are clear: deliver those orders that we've taken. Return the US to clear growth. And continue to widen our customer base with more customer projects. And with Riboclean and Ribocleave-1, make RNA our 3rd growth pillar. So the momentum that we're seeing is real. The team is doing a fantastic job, and I feel genuinely confident about where we're heading into the 4th quarter and into 2027. Thanks very much, and over to Børge. Thank you, Paul and Michael, for the introduction and the great introduction here, and also the kind of the launch of the new products that we have done now just recently here. Over the next few slides, I will move into a little bit on the finance specifics for the quarter and for the first 9 months of the year. We'll be talking a little bit about sales and EBITDA. Over the last 7 quarters, including how the margin has developed and a little bit reasons why it declined in the 3rd quarter. We will also talk a little bit about the currency effect because it has had a major impact on the business. so far this year. I will also say a little bit about the cost development, where I will split between temporary items and growth-related items, the investments that we have done in the business over the last year. And finally, I will round off with a little bit on our cash and financial position in, in the organization here. The overall message on the financial side is that underlying growth is strong, as Michael talked about. The quarter profitability was held back by identifiable items such as currency. And some temporary cost, and our balance sheet remains solid. So first of all, looking at the headline picture here, sales and EBITDA over the last 7 quarters with EBITDA margin, you can see the development over the— on the left-hand side here. Our Q3 sales, as reported by both Michael and Paul, ended up on $32.9 million. They were up by 15% compared to the $28.5 million we had at the Q3 last year, and around 23-24% with a constant currency, which is the— which is, you can also see here in the subtitle here. EBITDA ended up on $3.9 million with a margin of 9%. And this is also compared to the 12% we had at the end of Q3 2025, and we also had a 23% margin in the 2nd quarter this year. So the margin is down both quarter over quarter and year over year. And there are basically 2 things that is explaining this. And that is the currency and some of the temporary effects, including the growth-related investments that we have done. If we are to look at the EBITDA now and we use the constant currency that both Michael and Paul talked about, it is important that our EBITDA would have improved from that $3.1 million to an estimated of $5.5 million if you are using the same conversion rates in 2026 as we had in 2025. So that basically meant that our EBITDA would have increased by $2 million compared to the same quarter last year. Looking at the first 9 months of the year, our sales ended up on $96.6 million, up 23% from the $78.5 million last year. We have an EBITDA of around $12.1 million versus $3.7 million at the same time last year. And on this one, if you do the same comparison on constant currency, our estimated EBITDA would have been $7.7 million higher, or at $19.8 million for the first 9 months of the year. And this is also the operating leverage coming through. Revenue is outgrowing the cost, and more of it will convert to EBITDA as we move forward now. It is important to highlight that there will be— our margin will fluctuate. It will be impacted by currency. We will have timing effects. There will be one-offs from time to time. But the direction since 2025 is clear, and we are moving in a positive direction here. So let's look a little bit into the deeper side, look at deeper into some of the details here. On the right-hand side, you can see 2 charts, and that's the development of USD and the USD towards the NOK and the euro towards the NOK. And as you— as we have talked about in previous presentations, we invoice our customers primarily in US and euro. And when the Norwegian krone is strengthening against both of these 2 currencies, it has a negative impact on the underlying growth of the business here. So our reported sales are lower, actually. So if you look at the numbers, the Q3 reported sales, we ended up on $32.9 million. But when we also do that constant currency conversion, our Q3 number would have ended on $35.3 million, or a $2.4 million change. Which impacted the numbers by 7%. Looking at the first 9 months of the year, we reported $96.6 million. And if we do that same constant currency conversion, we would have ended on $104.8 million. million, or a $7.7 million NOK difference. So the takeaway here is that the underlying commercial growth is stronger than the reported revenue, what the reported revenue line shows. We do, however, get some cost benefits from that. We have some cost base that is also FX, but this base is extremely much— significantly lower than the revenue base that we have. So also let's look at some other items on our financial statement for the 3rd quarter here. And that is looking at some of the temporary or timing-related items that impacted our 3rd quarter. We had $0.7 million in cost under cost of material because of production reruns we had to do in the organization. There is also a little bit more added cost to this one relating to property, plant, and equipment, where we have acquired more raw materials and other items. It is important to highlight that we have this under control now, and these were one-offs in the 3rd quarter, and we do not expect these kind of— that $0.7 million that we ended up in the 3rd quarter to be carried on moving forward now. And also, as I talked about, there has been a currency headwind. We've also seen expenses that will impact— has impacted business in the 3rd quarter. from a currency perspective as well. Looking at temporary and timing-related investments, we have increased our We have capitalized $1.5 million in the development activity for new launches. This goes to the Riboclean and the Riboclean Clip that we just talked about. We have higher bonus accruals now this year compared to the same time last year due to the performance of the business. We are performing a lot stronger than what we did last year. And we have also invested more into external support to drive the top-line growth. And all this is also coming back to what Paul talked about. We have made some investments on projects into the Japan area specifically, and that impacts our, our P&L for the quarter, and it will impact it in the coming quarters as well. But not at a significant level. But we are— it is important to say we are investing in the business as well. This brings us over to the cash and the cash position of the company. Cash at the end of the quarter was $191.9 million. We had short-term investments of close to $80 million, giving us a cash balance of $272 million. This is up from the $269 million we had at the end of the second quarter. And about— and also compared to the $258 million we had at the end of Q3 last year. And for the quarter, you can see that our changes in cash and short-term investment was around $2.5 million. And this includes changes in short-term investments of $0.08 million. For the first 9 months, the combined position is up by roughly $6.8 million, and this was also achieved while we carried some currency headwinds. We have had some temporary costs and we have invested internally in the business. So to sum up, we have a strong cash position here. It gives us the flexibility to do organic growth, but it also gives us the flexibility to act on selective investments if we see there is a strategic fit. And we are also looking at other opportunities that Michael will talk a little bit more about now in the outlook and summary. Summary. In the outlook and summary. More about now in the outlook and summary. More about now in the outlook and summary. More about now in the outlook and summary. Opportunities that Michael will talk a little bit more about now in the outlook and summary. that we presented at the start of the year at our Capital Markets Day. And as you can see, our priorities have not changed. We're focused on building a high-performance commercial engine. We're focused on driving innovation not only through internal R&D but also through partner ships. And we are focused on expanding our SANE business through penetration to more CDMOs. And we also see an important priority And we also see an important priority And we also see an important priority And we also see an important priority And we also see an important priority since the Capital Markets Day, since we presented the core priorities, is that we now have more evidence that the strategy is working. Next slide. This slide shows the evidence of the execution of the strategy. First, the commercial engine, as Paul just has gone through. is gaining significant momentum. Is gaining significant momentum. Is gaining significant momentum. Is gaining significant momentum. Is gaining significant momentum. Is gaining significant momentum in '27, as we've now seen that the model is working. Second, our innovation model is producing tangible results. We launched 2 new enzymes, Ribocleave and Ribocleaf. As Paul walked you through, these are not just me-too enzymes. These are enzymes that deliver tangible benefits to our customers. I was so lucky to be at the European Society of Cell and Gene Therapy conference in Hamburg last week, and it was exciting to see the reception of the enzymes as well as the interaction with customers across the board by our dedicated BD team. The products have also been developed in a new way, as Paul also talked about. We've had beta site testing ongoing at 4 different sites, and their input has directly affected the application data and support that we've been able to provide. adoption of MSAN and SAN at CDMOs. The sales doubled, and we expect that we can continue that trend into 2027. Paul also talked about metagenomics. We are seeing increasing sales within that segment, and it is a segment that is building currently. Straight from launch with very tangible examples of how the enzymes impact the customer's RNA. workflow. Another priority is, of course, the expansion into CDMOs, and Paul has already walked you through what we're seeing. We're seeing increasing But it's a segment that's also diversifying the business, making the business more resilient for the future. And finally, one of the core priorities was to establish RNA as a scalable growth pillar. The 2 launches of the 2 new RNA enzymes is a first step in that direction. We see a lot of future growth potential within this segment. We're going to be launching more enzymes, more variants as we move forward. So all in all, tangible process in execution of the strategy on all 4, 5 priorities. Next slide, Børge. So a quick summary. I'm not going to mention the numbers again. I think you have heard them a couple of times during this presentation, but I'm going to say one thing. In regards to capital allocation, the board has asked the management to evaluate capital allocation options, and this includes a potential share buyback and the possible use of treasury shares in future acquisitions. So this is something that the management team is looking into as we speak. And the last thing I'm going to say is that I have now had a great joy of being heading up ArcticZymes for the past 3 years. And I'm really pleased with what I've seen from the team in Q3, but also during the first 9 months. of 2026. The business is in a good place, and we're going into Q4 with a lot of positive momentum to close out the year in a great way and also continue to build for 2027. The milestone in regards to launching the RNA enzyme is something that is crucial for the company. To continue on an aggressive growth path for the future. And with that, I would like to thank you for tuning in, to all of our investors, and last but not least, I'd also like to thank all our employees. for a strong delivery during the first 9 months of 2026. Thank you. And that means that we can start to take your questions. And I think we already have quite a few. Quite a few questions in the questions section, and we're going to try to address as many as possible, but I can't promise you that we can go through all of them, but we're going to pick as many as we can. So, Børge, please go ahead. Okay, I will start with the first question here. A little bit uncertain about it. It's stating that Q1 operating costs exceeded Q2 in each of the last 4 years. By also by 7 million this year, and how much of the Q1 to Q2 margin improvement was cost timing rather than operating leverage, and what is the normalized quarterly cost base going into 2027? I think I can also comment a little bit on that one. When we're talking about the first and the second quarter in this business. It is important to remember that our personnel expenses are always lower in the second quarter compared to the first quarter, primarily because of the Norwegian accounting system. We are not— we don't have a salary in Norway due to the holiday pay, which has been accrued throughout the year. So for June, we don't have a salary expense. It's been accrued over the the last 11, over the other 11 months, meaning that Q1 is most likely to be higher than Q2 moving forward. Looking at the normalized cost base for 2027, we haven't, we haven't done all the figures for 2027 yet, but of course we have made investments into the organization. There are more people in the organization, and we plan to expand the business as we move forward as well. And this is also coming back to the operating leverage we have talked about. We really continue to invest in the business, but it is important that we, that we invest in a good way that also kind of is aligned with the top-line growth that we are looking at. The next question here, at the Capital Markets Day, you showed EBITDA margins of 10 to 15% at 120— at NOK 120 million revenues and 2023-27. at 150 million. And, and it's, it's also a question about where does Q3 sit against that model, and does you still stand by it? And I can, I can probably answer that one as well. And I think What we presented at the Capital Markets Day was an illustration of how we believe this business can grow. And I think given from where we are, I think Q3, maybe not the isolated quarter sits very well with that, but if you look at the full year as such, the model fits quite nice, I would say, right now. We have a margin of, I think it's 12%, looking at the first 9 months. And So I would say it fits fairly nice with what we have already said, and I think it will fit fairly nice with the future as well. All right, looking at the next question. Your FDA-approved diagnostic customers, that customer's test launched commercially in the US. At the end of September. Did you automate scale-up? Order ship in Q3 or does it fall into Q4 and how large was it? You have said this account could become your largest customer within 3 to 4 years, but your published 2030 forecast for it is about NOK 19 million below what your average— what your largest customer buys today. Will you update that forecast? So I can take that one. So we did ship some material during Q3, but we will also be shipping some material during Q4. For their scale-up. I'm not going to comment on exactly how large that is. That wouldn't be appropriate of me. We did say that this account could become our largest customer, and we still believe that that could be the case. And the forecast of 19 million NOK that we we put forward previously. is just that. It's, it's an estimate that was provided by the customer. There's a couple of things that was based around one oncology test, and as Michael mentioned, we're currently being validated into another test. And a forecast is exactly that. It, it's not an exact science, and it depends on the success of this customer, how commercially successful these tests are going to be. So we were we were basing it on the data that we had, which it was provided by the customer. We actually think inclusion in more tests and that success in the market of their diagnostic kit could make it higher than this. Okay, thank you. Um, How much of that molecular tools revenue moved from Q3 into Q4 now, caused by the production reruns? Or has it been shipped now, or is it when you believe it will be shipped? So again, I'm not going to comment on exact numbers. Quality is at the heart of everything we do, and it was important to do a particular rerun. These things do happen, of course, in manufacturing. Um, Yeah, I'm not going to comment on the exact size. Okay, that's fine. Moving a little bit into the new product introductions that you talked about here, how many customers have ordered the RyboClean, RyboClip since the launch, and are the 4 beta test sites amongst these? I think it's important to mention that we launched the product last week, first of all. So, but you can comment further on it, Paul. Yeah, our priority is not to generate revenues. Our priority is to— in, in the first instance, our priority is to get the enzyme into the hands of customers so that they can validate it in their workflows. They can work with us to produce, or work independently in many cases, to produce results for the market. So Uh, the, the, the partners that we've, uh, been working with during the beta test phase continue to be our partners. They, they are excited, they're pleased with the, the enzyme. Uh, and, you know, we'll, we'll, we will start to report out on, uh, on that, that product line as, as time goes on. But it's, it's too early now. Um, we literally launched last week. But I can also just mention that last week I had the opportunity to have dinner with one of the beta site testers. And that beta site tester is, uh, CDMO, and they are extremely pleased with the, the performance of the 2 enzymes, and they're currently considering to implement it on their platform. So the initial reception by the beta testers has been really, really positive. And that gives us a lot of confidence. Really, really positive, and that gives us a lot of confidence. Really, really positive, and that gives us a lot of confidence. Really, really positive, and that gives us a lot of confidence. Really, really positive, and that gives us a lot of confidence. Really, really positive, and that gives us a lot of confidence. Really, really positive, and that gives us a lot of confidence. Really, really positive, and that gives us a lot of confidence. Really, really positive, and that gives us a lot of confidence. Really, really positive, and that gives us a lot of confidence. It is a segment that has our attention. It is a segment where we're going to build a strong portfolio. of enzymes in the future. Regarding these 2, these new product offerings that you have now, is there planned a GMP grade, or is it going to be ISO 13485? Or how do you see the development of these products moving forward now? That's a good question, and I can answer that. If we look at the RNA market, then it's a market that is still developing. It's a market with not many gold standards of how to do things, which is good when you are a new entrance— entrant into the market space because it opens up a lot of opportunities. It also means that quality regulations, standards are not as harsh at the start. So we launched research use grade of the products. That's good to get people testing, trying. We're going to launch ISO 13485 grade in the future. The timing has to be decided. And when we look at RIPO Clean, then our expectation is also that we are going to be launching a GMP grade in the future. The timing has to be decided. What's important in regards to this is that we have the exact capabilities to launch both the ISO 13485 in the future as well as the GMP grade. And that's the confidence that we need to also translate to our customers. So it is something that is, you know, forward looking plans that we are going to be also, just as we did with our SAN enzymes, do different quality grade upgrades. in the future. Okay, thank you, Michael. I think we'll also head over to a few questions on the revenue side of the business. Are you— you said that you had How has Q4 so far been? How's Q4 looking? Can you quantify anything on that note? I won't quantify anything, but what I will say is that we've continued with good momentum into Q4. Okay, thank you with that one. And I think, Paul, that's exactly right. We have good momentum. And now I'm not just thinking about the actual sales numbers. I'm thinking about also the quality of the dialogues that your team tells me that we are moving from a more transactional way of working to actually establishing really strong relations with numerous customers— biotech, pharma, CMOs, molecular diagnostic customers. So it promises well for the future. are having. I was really impressed last week with the relation building that's going on, and that is something that Thank you. Looking at the strong growth in biomanufacturing, particularly the significant increase in CDMO sales and GMP-related business, Do you see a structural shift towards more recurring and predictable revenue streams, or are you just seeing increased customer commitment and growing production volumes amongst existing CDMO customers? And should we expect this to translate into more stable quarterly revenues going forward? Yeah, I, I think the short answer is stability is going to be difficult in terms of individual accounts, and it comes from I think it's more important to focus on having enough accounts that are purchasing to GMP. Now, we have more success getting robust forecasts for customers for GMP material. They know that it it is a little bit special, and we need to understand what their campaigns, their manufacturing campaigns, are going to be. So I think it's more a question of having enough customers so that project bumps can be smoothed out. You know, the progression from design into commercial is not linear. There is, you know, pauses, there are, you know, customer sort of milestones, and And these things do cause what you might regard as some hesitation in the order timings. So, you know, you cannot simply draw a straight line for each customer. It becomes a question of having enough customers, as we are doing, to stabilize and to kind of smooth out those project-related bumps. But it's absolutely going in the right direction. The GMP conversations are you know, more, more committed than, than the non-GMP conversations because, you know, this material is being used for patients, for clinical use. Okay, thank you, thank you again, Paul. I see that time is running quickly. I think we will take one final question before we will round off this presentation and and 3rd quarter webcast. It's a little bit about the long term here. You have said that you wanted— earlier you have set a target of $180 million by the— by Wanted earlier, you have set a target of $180 million by the, by wanted earlier, you have set a target of $180 million by the, by 2026, and in back in 2022, uh, you promised to review your long-term commercial goals. Goals. Is the 2026 target still valid, and will you also publish a new quantified revenue target? Thank you. I'm not going to comment on revenue targets that have been set. On setting new targets. I think it's important for us to continue to improve our guidance of the market. we've shown you how we execute according to those, both the core priorities as well as the ambitions. So at the moment, Um, we came out at our Capital Markets Day with some clear ambitions, and during this presentation where we are in the company's development, that is the guidance that we are going to give. Is it going to change going forward as the company matures, becomes larger? Most likely. But for now, the targets that we have are the ones that you have seen from the Capital Markets Day presentation. And from here on, it's very much about executing on the strategy and, of course, delivering growth long-term for the business, which we are on track to do, as you've seen in the numbers that were presented today. Okay, and with that final note, I think we thank you all for your participation and listening in on this webcast and wish you all a great day. Thank you.