Welcome, everyone, to the interim report for the third quarter for Itera. We have the same agenda as you know from the previous quarter. I will start with the highlights and go into the business review section. Then Bjarte Petersen, our CFO, will go into the financial review and some comments about the outlook. The last one is actually we have a Q&A session. If you have any kind of question, please post in the chat alongside the channel here, and we will look into it at the end. We have a joint session at the end of this presentation. Let me start with the highlights for the third quarter. Third quarter was actually a transition quarter for Itera because we had several customer projects that ended before summer, while we onboarded new talent and renewed our capabilities for the agentic AI. There is something that is really happening in the market that we have also discussed the previous quarter. These changes affected our activity, so we had a revenue decline of 3% in constant currency in this quarter. That's one of the main messages here, but the other one is actually that the business is actually strengthening through the quarter because our operating expenses was reduced by 8%, and we also see that the EBIT margin reached 4% in this quarter. We improved our efficiency and profitability alongside, not at least also strong cash generation. What we see is actually there is a transition in the market, and that's coming faster than we saw earlier, but that is also a big opportunity going forward. We saw the transition that we need to accelerate this one because the next priority is actually the conversion. Virtually all new engagements are AI-related now, so our focus is to turn this demand and also our differentiated capabilities into larger engagement and recurring revenue. That's the key focus. The key message is actually the stronger fundamentals and also our accelerated agentic AI transformation is positioning Itera for renewed growth. That's the main message in this quarter, and I will return back to this on the next slides to explain even more. The business review. Let me start with the quarter in brief. The revenue was approximately about NOK 183 million. Organic growth in constant currency was 3%, while the reporting decline in Norwegian krone was actually minus 7%. As you see the table on the bottom, you can see the difference between reported and the constant currency. Keeping this differentiation or this difference is also important to understand the growth rate of Itera as an international company. Despite this lower revenue and this transition I talked about, our EBIT margin improved to 4% compared to 3.8% last year, and the chart also shows that the progression from 3.2% in the third quarter 2024 to 4% in this quarter. Operation cash flow was substantially improved to NOK 20 million compared to negative NOK 7.2 million in the same quarter last year. We also ended the quarter with 670 employees. That's broadly unchanged from 672. As you remember, we also divested a recruitment company by four or five people, so we actually increased the number of employees from the second quarter to the third quarter. But anyway, it's more or less on par, and that's what we said that we are onboarding new people with a new skill set, more commercial skill set in the direction Itera is going, and not at least also the agentic AI. So the picture is actually that we have lower revenue, of course, on one side because of that, but also improved margin and a stronger, not at least, cash generation with more or less the capacity on a stable level compared to this second quarter this year. Let me also explain a little bit about this transition because we call it a transition quarter, and it's really a transition quarter Itera. We have established a strategy. We believe it's important to do these changes in the skill set of Itera and also, not at least, the AI capabilities because we see it all over the place alongside the value chain of Itera that this is also a really big opportunity. I'm coming back more to that later in this presentation. As I said, we have several projects that ended before the summer, and at that, in the second quarter, we have very high utilization level. If I look at the sequential move in terms of utilization in the third quarter compared to last year, it was higher, but compared to the second quarter, it was lower because we had this kind of transition of the skill set. We also see that going forward, there still will have some impact on the utilization going forward also into the fourth quarter. But this transition we really believe is important to take now because the opportunity on the revenue side in terms of the opportunities in the market, I will explain further, it's important that we are positioned because also our industry is also transforming because of the high productivity of using AI through the whole value chain. This is a strategic move for Itera that we really believe is also for the valuation of Itera going forward because we need to be a part of this transition. That's the key message for this quarter. Let me also look at the market view, because that also remains very selective. There are very attractive areas of demand in the market. Customer are moving from exploring AI to practical implementation with greater attention to measurable business outcomes. I will show you on the next slide what I mean by that one. This also changes the skill set and delivery models they need or expect from partners. We are already seeing this kind of project. I reported on that also in the second quarter when I talk about this project for about NOK 75 million. This is the largest agentic AI-driven project at Itera. We are already This is not the start. This actually something that we started for 12 to 18 months, but we really see that this accelerating, and that's why we believe that we need to focus even more on this transition and be ahead of it, and not instead of waiting for these kind of changes to happen. Because we see that along all the customer, some are first mover, others are coming later. But in general, it is extremely important to be on the edge of it, because this is also disrupting the business model that we are part of. Demand is driven by the application modernization, Cloud & Application Services and Data Fabric, as I talked about later, and not at least also opportunity for managed services, cybersecurity, digital sovereignty, as we all do, and resilience. That is also a key focus that we see in the market now. These need fit into our focus, both on the financial services, energy, and industry, the public sector, and not at least also defense. It is very quite fit with the trends and also the sector Itera is focusing on. Then talk about the next priority of Itera is what we call conversion. We want to go deeper into strategic customer relationship, and use this opportunity to really also build more end-to-end solution and new capabilities that also increase the recurring revenue of Itera. Turning the pipeline into billable work will also have impact for the utilization going forward. As I told you, it will be gradually improved during the fourth quarter, and I also will see that we will have more full effect going into 2027. I think that is a very important part of the strategy process at Itera, that we do this kind of transition and make sure that we have these capabilities and this skill set in terms of really look at the opportunities coming forward. This slide actually is trying to showcase what we are seeing in the market, because it actually connects on the left side the complexity of the customer existing technology with the opportunity in agentic AI. Many organization operate with several generation of technology, at once from mainframe system, where some larger customer have a lot on the COBOL platform, as you might also know in your own organization in the FSI segment, through client server application where the data is really connected into the application. In order to utilize this in the AI context, you need to extract the data. There is also some kind of client server application that need to be transformed or modernized, and we also have the new cloud platforms that is already there. There is three main technology stacks that are mixed together, and these things you need to transform into and be what we call to make sure they are AI-ready. Our approach starts with actually this kind of modernization that by using this technology and this new technology, the cost of the modernization really reduce. This is something that the customer are looking at as great opportunities to reduce that debt and building a digital core that are ready for AI. The next step after this is actually enabling the AI and agentic AI with governance and security while also redesigning the processes around them. Then you move to the next step is actually operation that focus on not only people, but actually on reusable workflows and people working alongside with agents. As you can imagine, this is a really big change that you are also having digital agent that are working together with the humans, that you always need to have humans in the loop. When you see the opportunities, you will also see opportunities for packaging more intellectual property and new products that we can scale our services. The final stage is actually also describing the potential business value through much higher productivity and growth with greater resilience. These five areas is actually that we see in our industry, but the first step is actually the modernization, and that is where which is driving the demand for new kind of services that you need to use AI in order to be ready to also use the agentic AI as a part of your operating model going forward. This is a major shift in our industry, and I am very happy with what we are doing in Itera to build these capabilities together to make sure that Itera also go deeper into the customer relationship and also can provide more end-to-end services, and not at least also piggybacking on the opportunity to build more intellectual property capabilities that we also can increase the recurring revenue and the market capitalization of Itera as a company. That is a part of what we see in the market. If I go and look at the sector, as you see, our revenue mix have become more concentrated in our priority sectors. We have now 79% of the revenue from financial services industries. We have energy industry and public sector and organizations. Those three are consisting of 79%. Financial services increase its share from about 40% to 44% in 2026, and energy industry is actually representing at 22%. We have a strong portfolio project in both financial services and energy sector. I also believe this kind of either the financial services larger one, energy industry, I think it depends on what kind of opportunity that we close, but I see there is a strong portfolio for both of these sector. The last one is actually also public sector, and not at least also the defense, where we also have a strong position because of the learning from Ukraine, and all kind of disruption of the defense industry. That is also something that we are going into. I believe that also going forward, where we will put public sector and extended with defense. These three major sector will be Itera's main sector going forward together. 80% or 79% of the revenue connected to these three sector, I think will be something that we will also follow, but it will depend from quarter to quarter and also year to year which sector is actually driving the highest share of the revenue of Itera. Before I take some more key KPIs about the business review, I just also mention we are very proud that we are recognized as the winner of the Business-to-Business Energy Innovator of the Year at the CHARGE Europe 2026 Awards. This is also very important because we have achieved this recognition together with other large player in the energy sector, like Equinor was also alongside in other category. But what is important that Itera, let's say as a smaller company, is also recognized in an energy sector, because of AI and resilience, and not at least also the learnings we have done, achieved from the disruption of the energy sector in Ukraine. This is also showing that despite Itera is a smaller company, we really step up in a very high recognized awards like this, that this represents. I am very happy for all the work our people of Itera is doing in order to achieve this kind of recognition. Okay, so the order intake is, as you see in here, we have some existing, we have some new ones. Customer won over the past 12 months contributed about 7% of the revenue compared to 13% last year. That is also connected to the, let's say, the more the flat revenue that we have. But we also see opportunities going forward in the customer portfolio that we have in Itera. That is quite well described here, I think. If you look at the top 30 customer is more or less the same, 72% of the revenue. That is unchanged from last year. I also see there is several new customer that we are not utilizing, it is much higher potential. That is why I also talked about that we are also onboarding new commercial competencies in order to broader or increase the value of these potential new customer and bring them also into the top 30 clients of Itera. I also believe this 7% more or less in new revenue, new customer that we didn't have for 12 months ago, I also believe that it will also go back. 7% not that bad compared to competitors, but I also push this one in order to make sure that we have a large customer base that we can deep dive and broadening our services going forward. AI, as I said in the beginning, is something that are disrupting, that is also easy to get the new customer if your company is really at the edge of using these capabilities from the consultancy part and through every part of Itera, including the operation. So that is also edge in order to onboard for new customer, new vendors that have done this kind of transition to be ready for the next move of this movement from a legacy into a new operating model that also include the business side of the customers. Okay. Number of employees, I think we have commented that during the presentation. The share of what we call nearshore ratio, that is also the people located in Central and Eastern Europe, about 50% of the company. I will also add that these nearshore, I don't want to talk about onshore/nearshore in the future, because these capability nearshore is also really doing a fantastic job in order to make very agentic capabilities. So when Itera approaches the customer, we have one Itera company approach, one culture, but also the scalability of using agents in terms of software, but also whole companies, the competencies of the people of Itera and other location also on this edge, competence development, and also the capabilities we are talking about when we are building more priority solutions. Some part of this kind of priority solution that we are building are also done from the Central and Eastern Europe. That is one thing, but we are also turning, as we also talked about, that these locations should not only be a supply region for Itera, we are also turning them into demand opportunities. We also believe that this will also expand the market for Itera when they also have a dual business model that both look at opportunities in an international context and also have the supply dimension in order to serve the Nordic setup. We are very strong also on the customer development side. I think I should stop there and then hand over to Bjarte to go deeper into the financial review. I think you also have a very good story here. Okay. Thank you, Arne. Okay. As mentioned from Arne, Q3 was a transition quarter for Itera. Several customers' project ended before the summer, and we also onboarded new talent and capabilities as we move forward towards a more AI-driven and more agentic company. This affected our utilization and our revenue in the quarter. Revenue was NOK 183 million, down 3% in constant currency, and 7% down compared to what is reported. The stronger NOK accounts for about four points of this decline, and lower activity in Iceland also have a weight on the growth. Even so, EBIT margin improved to 4%, with an EBIT of NOK 7.3 million. Operating expenses were down 8%, helped by currency, but also the improvement program that we run earlier this year. Billable utilization is up year-over-year, but it is down from Q2 because of the project completion and the talent renewal that we have mentioned a couple of times. Revenue per employee increased with 1% in constant currency. For the first nine months, adjusted EBIT margin is 6.7%, up from 5.5% last year. This is helped by also the improvement program which we delivered on target earlier this year. Cloud & Application Services grew gross profit with 6% in the quarter, and 15% year to date. This is driven by recurring managed services, automation, and AI. If we look at our consultancy revenue, it fell with 7%. About four percentage points came from currency, and lower activity on Iceland also play a part. The rest is mainly reflecting the transition quarter, with project completion and talent onboarding affecting utilization. Subscription revenue was NOK 20 million in the quarter, down 5%. Cloud & Application Services and subscription has a solid growth, but our subscription from our Cicero product offset this growth in the quarter. Third-party services were NOK 5 million, and other revenues were NOK 11 million in the quarter. Operating revenue per employee were up 1% in constant currency. New customers from the last 12 months contributed with 7% of our revenue in the quarter. NOK 12.7 million in total. The 30 largest customers make up 72% of our revenue. It is quite unchanged from last year. On the last 12-month basis, revenue by type is broadly stable, around NOK 830 million, at least when we consider the currency effects. Looking ahead, customers are moving from AI pilots to deploying agents, and interest in our agentic AI capability is high. We have a lot of interesting discussions with our customer that is ongoing and maturing both during Q3, but also in Q4. Our investment over the past 12 to 18 months in Code Compass, Digital Factory, and Atlas Data Fabric puts us in a very good position to turn this into customer engagements. For example, in insurance, where we are in several discussions on modernizing legacy core systems. Digital sovereignty, security, and resilience are other key drivers, and our operations in Ukraine give us a firsthand experience on this area. Our priorities going forward are conversion and execution, turning pipeline into billable work, raise utilization as the new talent is deployed, expand strategic accounts through cross-selling, and grow recurring revenue in our Cloud & Application Services. Looking at the cash flow, cash flow from operations was very solid in the quarter with NOK 20.2 million. This is up from minus NOK 7.2 million last year. This is driven by profit and good collection from the customers during the quarter. Over the last 12 months, cash flow from operation is NOK 66 million, up 23%, and a clear recovery from Q1 and Q2. Investing activities were NOK 2.7 million, NOK 2.2 million in product development, and the rest is office equipment. Financing activities were minus NOK 4.6 million, mainly lease payments of NOK 4.3 million. Cash was NOK 26 million at the end of the quarter, and we also have a revolving credit facility of NOK 45 million. We have a strong cash conversion during the quarter compared to EBITDA at 99%. This is up from 74% last year and up from 58% at the end of Q2. The first half-year dip came from higher working capital and from revised employee tax payment schedules in Norway, and also payment structure in some fixed-price contracts. Q3 was helped by profits and good customer collection. For the dividend, the ordinary dividend of NOK 0.2 per share and a total amount of NOK 16.2 million was paid in the second quarter. Yesterday, on November 3rd, the board used the authorization from the annual general meeting to approve an additional dividend of NOK 0.1 per share, and this amounts to NOK 8.1 million. It trades ex-dividend from the 30th of November, and it will be paid on the 9th of December. Total dividends for 2025 results are NOK 0.3 per share, and this amounts to 107% of our earnings per share for 2025 results. Share price was NOK 5.8 at the end of September, and we hold our own share worth NOK 5.8 million. Just a brief summary of our outlook. I think we have touched upon a lot of these points during the presentations, but of course, demand remains selective, but we see stronger pockets of activity, especially within AI, cloud, data, and managed services, but also in the sovereignty and cyber and resilience that we see emerging. agentic AI is a key theme in everything. Nearly all engagements are now AI-related. We are renewing talent and scaling reusable platforms, and our priority is to convert the pipeline and discussion we have with the customers on these projects to grow new key accounts. But in the short term, we see that skill renewal will have a weight on our utilization. We also aim to grow recurring revenue and reach with continued focus on Cloud & Application Services, product outcome-based offerings, and also focus on sales in the Nordics and Central Eastern Europe. Overall, our target is profitable growth and cash flow through cost discipline, efficiency, and protecting our cash conversion. Thank you. Okay, Arne. I think that was the last one, yes, and then we have the Q&A session. Are there any kind of questions there? Yes, we have one question today, which is, when do you expect the agentic AI transformation to translate into renewed growth? Yeah. That's a good one. Yeah, thank you. I can start and you can- Yeah, you can start. Yeah. Surely. What I see is actually, I also talked a little about it, that there are several larger opportunities in the pipeline, both in the FSI sector and also the energy sector. It is actually about converting this into opportunities going forward. If I look at what we have seen, the increased focus on these opportunities has really raised a lot the last, I will say, the two, three months, and I also expect that going forward. As we also said, there will still be some renewal of the competence and the skill set of Itera. By also building this pipeline, I believe that also going into 2027, the opportunities will really be more concrete and larger that we saw maybe going into 2026. And what I think is important when we are looking at also the strategic implementation, that is what I like with you, because we are really doing a very transition of Itera for this opportunity going forward. So I think we should stick to the strategy to make sure that we are doing this in a gradual way, to make sure that also the scalability of Itera as a company is really targeting for this opportunity that will come. Yeah. No, I think, and AI is affecting us from several sides. Yeah. So it is already in our deliveries and large projects, we are using agentic AI to be able to deliver faster, and that affects also the speed and also the margins in the contracts. That is already happening. For our more, the tools that we are, or the capabilities that we have mentioned, the Code Compass, Digital Factory, and Atlas Data Fabric, we have the first contracts with customer, the first paid contracts with the customers Yeah signed in Q3. It is still in a maturing stage, I would say. Yeah. The interest from the market and the scoping on the contracts around this software, as it really is emerging. Yeah. We can say that we are in an opportunity stage where we are discussing a lot of opportunities with our customers with solid interest. Then it is a bit hard to tell exactly Exactly exactly when the contracts will be signed. But we have good reason to be quite optimistic that this will, in a half year, within the next year, we will see several of these contracts, would I say. Yeah. Yeah. I can also add that we are also analyzing the industry itself and looking at all the players. So I also feel that what Itera is saying is also quite aligned, because I also talk with other industry CEOs that we also see that some kind of transition also for the industry itself. Yeah. Yes, 2027, we really look forward. We will do the work in the rest of this year. We are doing a quite interesting strategic work and settle the strategy, setting the organization to really scale these opportunities going into 2027. Yes. Was that all? Do you have all the kind of questions? Yes, we just got enough question. We just got a new question here. Yeah. Why trying to productify? The risks are enormous. With AI, the IP is going towards zero in addition, so arguing with IP is not really okay. That's a very interesting question, and I think we as a company, as a consultancy company, have been very aware of this for a long time. What is important is actually to ride on every wave coming in. We do not want to go into kind of products that will be out-competed by the big players. We will always put our functionality on top. What I also believe is actually the AI is also doing this kind of, we call it the AI workflow, right? It could be a part of this that you reuse from project to project and to project to project, right? We might also in the future see that we should be in a niche area to also be building capabilities that have a business functionality. One is actually the technology functionality and the capabilities that we are building, but we also believe that we in some part can take a more vertical, I will say, position. Itera has done that as in terms of having companies like Cicero and Compendia, which has this products approach. When we see an opportunity, we will put this into a separate unit that have a product focus, right? We are a consultancy company that also would like to see the reusability so we can execute each opportunities faster, increasing the profitabilities of these opportunities. Also if there is some kind of products which I believe they are talking about or asking about, then we will organize this in a special unit that have this kind of focus. Yes. Yeah. Yeah. Any comment more or? No, I think that it's a very relevant question. Yeah. And we are using quite few resources to build this. Yeah. And our capabilities, which is really supporting software- Yeah is built by agents. Yeah. So, as a few people, we need those kind of tools, capabilities to move on further to meet the future demand, for example, in the modernization projects this will go much faster with these kind of developed tools. Yeah. I think that it's not something that you can just fetch from the market and plug and play and start modernizing an insurance system. Yeah. I just also want to add that we have a very customer-oriented approach, so we do not do any kind of product investment without the customer, right? We don't start from scratch and hope for something. We are really doing very customer-centric. So, we are quite aware of what we are talking about. We really something that we are quite mature in understand where we should take some kind of position or not. Okay. Thank you. That was all we had this time. Okay. Good. Okay. Then we will go back and do our work, right? Yes. The fourth quarter will be on, I saw it in the report, it was said 12 of February. February. Yeah. Thank you all for today. Thank you. If you have any kind of question to Bjarte or myself, we are really available. Please reach out and we can see how we can support your questions. Okay? Bye-bye. Thank you.