Warm welcome to EcoOnline's Q2 report for 2021. I am Göran Lindö, the CEO of EcoOnline, and with me here today I have Siw Ødegaard, the newly appointed CFO of the company, and Morten Evensen, the former CFO and finance director. We will present the Q2 presentation for you today. The agenda will be that I start out with giving an introduction to EcoOnline and the market dynamics, and then Siw and I will present the highlights and the business update and financial update, and we'll finish up with a Q&A, all three of us. Let's move into the presentation. Who are EcoOnline? EcoOnline is a purpose-driven B2B SaaS company protecting people and the environment. We have now around 400 dedicated employees and teammates working to do this. We're not dependent on any industry nor any customer size, we attract customers from basically all different types of industry and customer sizes. We have a leading and very user-friendly software as a service offering, recently rated as leader in the Green Quadrant by External Research Institute Verdantix. How is our market and how is our position developing? Well, we have a leading position in all the Nordic countries. That is Norway, Sweden, Finland, Denmark, and Iceland. We're also in the United Kingdom and Ireland. We also have a first footprint in the U.S. and customers in many other European countries. Our market is still much of a virgin market. We estimate around 80% of the companies out there still don't use any software for their EHS challenges. This is a great foundation for long-term growth. We can also point out that the maturity in this market is a bit higher in the northern parts of Europe, where we stem from, and start to mature even further over the time going south. We also believe that it's a good maturity opportunity over time in Europe. How is our position and how has this market developed? Well, we have a unique position as a SaaS innovator with a very strong offering of purely SaaS in many different module scenarios. We are driving this ESG and also supporting UN's sustainable development goals in a very good way, creating safer and more sustainable workplaces. We have a proven growth track record and a very clear growth ambition to reach NOK 1 billion of ARR by 2025. Combined with this, we have really strong tailwinds and global trends. The digitalization, more and more companies taking into use different digital tools. We also have the increased focus on ESG and green focus and sustainability focus. In bottom of this, we have the foundation of compliance. There are already very strict regulations, both when it comes to safe handling of chemicals and safe handling of other health and safety issues in the workplace in all markets. Talking about these regulations, there also was recently a fresh update from the European Union that I want to share with you. In June this year, European Union came out with a new framework for their 2021- 2027 ambition within occupational safety and health routines. The major update here was that they pointed out that the digital trend is strong, and that is of course very good for us, supporting that we have the right offering for this market going forward, being truly SaaS-based. They also increased ambition and stated that they want this Vision Zero of no occupational deaths in any workplace in Europe, and also less incidents. They want more prevention and more work with increased health and safety. Also really good for us, and they also do more marketing towards oil companies in Europe to make them be aware of the challenges and what kind of legal demands that is on them. They also pointed out that they will update the legislation and put even further stricter pressure on, for example, exposure limits on chemicals. Also very linked to our exposure module that we have in Chemical Manager. Another great update from our point of view. They also directly said that they would like to increase companies' preparedness and improve companies' crisis management. Also very much linked to our recent acquisition of Pilotech and their software InCaseIT. We come to that later in the presentation. All these key drivers in the new EU framework is of course warmly welcomed by us and it's really supporting our growth journey forward. How is then our growth strategy, just to repeat? We have a clear path to organically reach NOK 1 billion of ARR. That is from growing with our existing customers. We'll come to that later, but it's around 6,700 customers, where we estimate a potential of at least NOK 600 million of additional ARR from existing products. We will accelerate our new customer intake and start and continue to attract new customers in a quite virgin market with 80% white space. We'll continue to both organically and inorganically add new product offerings to our portfolio, be able to sell more to our existing customers. Of course, also through M&A, be able to reach into new geographic areas and scale in existing geographies, having around 300 potential targets in the pipeline. A clearly defined path to a NOK 1 billion ARR organically and beyond with M&A. With that, let's move into the Q2 update and the progress on this growth journey so far. We'll start with some financial and operational KPIs, and I will start out, and then Siw will follow with the financials. We have reached, by Q2, NOK 376 million of ARR, and that is a 56% year-over-year growth from last year. We also attracted 193 customers organically and reached 111% net retention from existing customers, reaching a total customer base of 6,700. In July, we also completed two new acquisitions of Chymeia and Pilotech, adding another NOK 18 million of ARR and another 220 new customers. Now we are close to NOK 400 million in ARR and close to 7,000 customers in the base. During the quarter, we have also made some strong offering development, launching that new EHS learning, that I will tell you a little bit more about later. We also launched a new UX and UI update combined with the platform. Through the acquisitions, we now also have access to a more advanced SDS management tool and a new crisis management and preparedness tool from the two acquisitions. Also great offering developments. A number of key achievements during this quarter. Let's now have a look at these achievements a little bit more in detail, and we start up with the ARR development. ARR, as I mentioned, has reached NOK 376 million. That is 56% up year-over-year from the Q 2 last year. Together with the two acquisitions now reached NOK 394 million. We can also see in this slide that we continue the journey to have an increasing share of outside Nordic ARR and outside of Chemical Manager. They are now having 30%, respectively 34% share of the total ARR base. Quite a large move from 12 months ago. Looking into this ARR development a bit more in detail than the last 12 months, this graph shows the ARR bridge where you can see that we, on totality, last 12 months, had a 27% organic growth, quite well-balanced between healthy new sales in all markets, combined with the 111% net retention from existing customers. On top of that, we have also acquired NOK 77 million of ARR and hence reached NOK 376 and the total growth of 56%. As mentioned, then we have a much healthier mix in terms of a split between a non-Nordic has gone up and also non-chemical management has gone up quite a lot. Let's then move into looking into how this has developed a bit more long term and also in the last quarter. As you can see on this graph, we have had a very strong and steady ARR growth the last 3.5 years approximately. It's continuing, and we last quarter now reached then 27% organic growth, as mentioned, and 56% growth. The Q2 ARR sales were well above last year levels. Of course then comparing with COVID-19 impacted numbers, but also this quarter, we had some COVID-19 impact with lockdowns and delayed decisions and some delayed recruitments. Overall, we see a very strong trend, and we don't see any major market updates or shifts in demands, and we're keeping our medium and long-term growth ambition towards our NOK 1 billion by 2025. With that then, let's look a little bit at our new customers in Q2. As mentioned, we attracted 193 new customers organically in the quarter, and we attracted both small ones but also major larger customers in almost all regions. For example, in U.K. and U.S., but also in Norway and in other countries. As you can see, our new customers are quite satisfied. I'm really glad to see that they mentioned many of them are user-friendliness or ease of use and also our very effective sales process and a process where they feel that they can take control of their EHS challenges. Quite positive feedback from a lot of new customers. We can also see here that when we look at the ARR split of new customers, it is much higher for customers outside Chemical Management, almost 60%, and also around 60% stem from outside the Nordic region. Higher share both outside Nordics and outside chemical management, still driving then the development of the ARR base and the diversification of the ARR base, both geographically and offering-wise. That was a fast run-through of some of the KPIs from an operational perspective. Siw, please tell us a little bit more about our financial development and recognized revenue and gross margins. Thank you, Göran. As the ARR base is growing, we are also reporting strong growth in recognized revenue. We're looking at the recognized revenue. We always focus on the development over the last 12 months to give you a better insight into our long-term growth performance, as it is our long-term growth capacity that will make us reach the NOK 1 billion ARR by 2025. As you can see from the graph, it was a strong and solid revenue growth throughout this whole period. Year-on-year increase in total revenue was 51%, resulting in an LTM total revenue of NOK 370 million. When including the full effect of all acquisition, we reached a pro forma total revenue of NOK 414 million. During this period, the recurring revenue increased by 51% and non-recurring revenue by 46%. During this period, we also experienced that the recurring revenue share of total revenue increased from 85%- 86%, and we are still enjoying a strong and stable gross margin, with a gross margin one of 95% and a gross margin two of 85%. LTM-adjusted EBITDA amounted to NOK 11 million. It was a bit higher than expected due to delay recruitments. We are, as of the end of the Q2 approximately 410 FTE, and we are continuing to invest quite heavily in the organization to reach the NOK 1 billion target, and that will affect the EBITDA in the short term. Given our strong revenue growth, high and stable gross margin, we have a good visibility of our long-term EBITDA margin of 30% by 2025. Now let's have a look at our cash position and cash flow. During the last 12 months, our operational activities generated the amount of NOK 22 million in cash. The quarterly fluctuations you can see here on the graph is due to the fact that we are invoicing our customers on a yearly basis, with most contracts invoiced during the period of November to January. Cash is typically accumulated during Q4 and Q1, and we are typically experiencing negative cash flow in the Q2 and Q3. We had NOK 525 million in cash at the end of the Q2, so we have a solid financial position that is giving us a strong financial platform for our future growth. As we will continue investing in our organization, operational cash flow will go down in the short term as planned in order to reach our 2025 goal of NOK 1 billion in ARR. For more financial information, please see the complete financial statement in the Q2 financial report shared earlier today. Now Göran will update you a bit further on the business. Thank you, Siw. Let's move on to operational update and outlook. First, I'd like to mention our great upgrade of our offerings in Q2. As mentioned before, we launched a totally new product, organically developed, Learning Manager, we got some really good feedback from our customers and from our sales force. The customers really like the product and how they can digitize and streamline their EHS training and work with engaging e-learning. Already around 10 customers have adopted the system during the first two months, we are rolling out with more and more salespeople demonstrating the system and getting very positive feedback from a lot of the features. A promising start. In parallel with this, we also launched a new UX and UI, a new look and feel of all our products together integrated on our platform, the new home for workplace safety. This has also been very well received both by customers. As you can see, some customers have started to take it in use and really enjoy the totality of the offering and the possibility to view everything under one platform. It's also very popular around our salespeople that is now able to demonstrate our full offering in a much more efficient and attractive way, so supporting cross-sells over time. I'm really glad to say that we have two major releases that have went well, and we will continue, of course, to invest in both of these going forward, both from a training perspective of internal personnel and also from a product development perspective. The platform has not only been great for cross-sell and for customers in that sense that are new or existing, but also for M&As, as it also allows us to keep legacy products in parallel with new products that we market to customers, i.e., making integration smarter and faster. With that, let's move into a little bit our latest M&As and an M&A update. In June and July, we made actually three transactions. In July, we bought two companies, and we also made a minority investment in June. I will go through all three of them. To start off, InCaseIT and Pilotech AS, a Norwegian-based company providing a good cloud-based crisis management and preparedness software, helping customers to digitalize and improve their crisis management and contingency plans. As mentioned before, this is actually lifted up by EU and their new EU framework for 2021- 2027. It's also an area that is mentioned by Verdantix, the leading research institute in our industry, as one of the areas that has the highest increase of adoption rates right now. Attractive from those perspectives, and of course, something we really now look forward to add to our platform and start to sell to our customers, both new and existing. The company is quite small, around NOK 5 million of ARR and six employees, but adding good competence and a good product, and we estimate that the cross-selling potential in existing customer is above NOK 100 million ARR. A great long-term cross-sell opportunity. Short term, it will not have a dramatic effect, but long term, it will for sure help to drive us towards our NOK 1 billion ARR target. The second acquisition we executed was on Chymeia ApS and their product, Almego. Almego is a modern, intelligent, and highly efficient SDS authoring tool. This will help us to offer this to our customers, and they also have a wider geographic spread and a wider language coverage than we have today. Today, we have around 800 customers ourselves on this product that is targeted towards chemical manufacturers and resellers, mostly. They still have a quite small ARR, around NOK 11 million and around NOK 12,000 per customer, where Almego has around NOK 40,000 per customer and an ARR base of NOK 13 million and a customer base of 170 customers. An interesting add-on that will help us to offer a much more modern and more sophisticated SDS authoring tool, and also be able to scale that over more geographic markets going forward. Almego will also, as soon as possible, be integrated with our database, and hence will provide fully digitalized software data sheets data into the database to our Chemical Manager customers. Should also say that Almego has further strengthened our position in Denmark, also adding some Chemical Manager customers in that region. Third and last, but not least, we did a minority investment in a very interesting startup that works with very early-phase, cutting-edge, innovating safety technology, that is combining basically that you can use your existing CCTV cameras, for example, in a warehouse, and link that to an AI system that automatically then can view through the camera and identify safety risk. For example, someone speeding with a forklift truck or someone walking in a non-walking zone and so on and so forth. Quite exciting future stuff. Through this partnership, we will get access to sell this to our customers and demonstrate to our customers, the ones that wants to try out something new. We will, of course, also share the ARR with Protex, and we've also done a minority investment, we also have a small ownership stake in the company that can help us in the future if we find this to work very well. An interesting, innovative solution also added to our platform. All in all, I would say three really interesting add-ons that adds good strength and product offering to our existing customers and also new customers going forward. With that, we are not ready. We will continue, as you know, and we stated before, we will continue to work with our M&A strategy going forward, try to enter new geographies, scale in existing market, expand our offering, but also adding talent and customers. Since 2016, we have acquired nine companies and integrated many of them very well and have a high engagement score among the employees that joined us through acquisitions. Excuse me. We also have a strong pipeline of around 300 companies that we are investigating for acquisitions going forward. That was the operational upgrade, an update, I mean, and let's now summarize this report. Overall, we have reached a ARR of NOK 376 million, up 56% year-over-year. We attracted 193 new customers organically in the quarter. We made two acquisitions that added an additional NOK 18 million ARR and additional 220 customers. We have a new EU occupational safety framework that is really supporting and pushing for more conversion of customers using digitalized EHS tools going forward. We have a much stronger offering, both through internal organic launch of Learning Manager and platform and UX and UI upgrades, but also through our latest acquisitions, adding SDS authoring tools and crisis management to the platform. We had a continuous revenue growth, around 51% year-over-year in the quarter, reaching NOK 414 million of total sales, including the two M&As. We have positive cash flow from operations of NOK 22 million and NOK 525 million of cash to be used for growth forward. From the beginning, and now also further, we are a European leader, very well-positioned in this increasingly attractive market with strong pipelines both for new customers and for acquisitions. We are on track on our NOK 1 billion ARR target by 2025. Thank you for your attention. Let's now open up for Q&A. Hi again. Welcome back to Q&A. I think we have got some questions, Morten. Yes, we do. I can start to read them out. According to your target, you will grow ARR organically to reach NOK 1 billion by 2025. You have recently acquired two companies and have an active M&A agenda also going forward. How do you expect M&A to impact your overall growth outlook? Okay, good question. I love that you challenge our targets. As of now, the two acquisitions are not that large, around NOK 18 million ARR, as we said. For now, we are going to keep our NOK 1 billion target, but we will come back to you on that target adjustment over time. Second, at Q1, you said you were a bit behind schedule with regards to recruitments. Are you on track now, or do you expect to continue to increase the pace in recruitment? Well, we can say at the end of the Q2, we were still a bit behind due to the COVID restrictions, but we're now certainly speeding up all the recruitment processes, and we are expecting to be on target at the end of the Q4. The third one, how fast do you expect Almego and Pilotech to be fully integrated into the EcoOnline platform? As you know, we have made a lot of acquisitions the last years, and we have a standard plan of integrating companies. Both of the new companies, they are clearly add-ons, and they are well-functioning standalone companies. We will try to keep them as standalone companies, making as less noise as possible to their sales business. We will, of course, try to integrate their products to our platform as soon as possible. Good. It's number four, your investment in Protex AI sounds like interesting technology. How issues related to this type of workplace supervision? Very good question. It is a sensitive area, of course, but this startup has actually found a very smart way to handle it, and that is that they move no video data from the customer sites. It's kept behind their firewalls, kept at the customer sites, but still using the AI software on a SaaS base. They have sold it without actually moving any data outside the customer sites. Quite a smart solution to protect the GDPR rights of the employees. Can you give us some flavor on why growth was stronger for EHS than for chemical management? Once again, a good question, I think. Yes, we're quite happy to see that that has happened. We have focused a bit more on EHS, given it's a new offering area for us. We can see that the EHS deals, as I think we mentioned before, are a bit larger in tickets, so we need fewer customers, and then we get actually more ARR from those deals. That's also a reason for the increased share of EHS ARR. In what geographical markets, industries do you see the highest growth potential? We have the real benefit and opportunity that we have such great growth opportunities in all our markets. No one has a too high sort of penetration of this kind of software yet. Of course, there are some differences. I would say that still we have less use of chemical management software in U.K., for example, compared to the Nordics. There we have a little bit more of an opportunity. From our own perspective also, we can do even more EHS and Learning Manager in general, given that those are newer offerings to us than chemical management. The Q2 ARR growth was impressive. Can you say something about which product areas that drove this growth? Yes, as I think that was presented in the presentation, in terms of new sales, the product areas were EHS was a bit higher, I think 60%, and chemical management still a very big contributor of 40% of the ARR from new sales. Within the net retention of 111%, the other way, I would say it's a bit higher net retention development on chemical management still, given that that's a much larger part of our customer base and a larger part of our ARR. A bit more from chemical management in terms of upsell and cross-sell. I think that was all for now. Okay. Great questions. Let's see if there are some more questions. Please post your questions and we will try to answer them here. Okay, if there are no further questions, I think we then have answered the questions. Nothing has come up. Okay. Thank you so much for your attention today, and thank you.