Good morning, good day, good evening, everyone. Welcome to the YouTube Presentation from NEXT Biometrics Group ASA. I think I will wait just one or two minutes. We can show the agenda first. I'm here with Eirik Underthun, and I'm Ulf Ritsvall, as you know, as standard. I think I just pause here for just a few seconds because maybe there's a few more people coming in to the meeting. I think we are set to go. Again, welcome, warm welcome to this quarterly Q2 results reporting. We have some exciting news today, actually, so stay tuned. We actually had the last edits at this very late moment. Today, the agenda will be a kind of standard agenda. We go first, the highlights, what has happened in Q2 and up until now. We continue with the Q2 financial reporting. Then I would like to share where we are, the business, market, and a few products updates that we have been working on the last few months, ending off with, of course, an Outlook and Q&A. The Q&A session, you can actually ask questions in the chat or you can email the questions to us. All right, let's proceed. You can take the next slide, please. First, maybe you also saw yesterday, we actually have found some irregularities and need to restate our Q2 and Q2 2025 and 2024 to be ensuring full compliance and accuracy. It's a historic event. It's historic revenues. It has actually no cash impact at this moment in time. It's actually something where we see can be turned into positive as we have taken the goods back and we will reship the goods that have been shipped to certain distributors. This will be one separate slide and it's detailed described in the quarterly report. We have now restructured the China business. We have tighter control and we have, as we communicated in Q1 reported, we have increased our financial credit checks and factoring and prepayment, etc. I think you will hear more about that in a few slides. Quarterly Q2 was coming in low due to mainly India. India was basically stopped, as you all are aware, between November and possibly mid-April. That, of course, affected our sales in Q2. We, of course, would have hoped for a bit more orders and revenues in Q2, but we came in lower than expectations. On the other hand, I will show later on, we are expecting to grow significantly in Q3 on India as well as in Q4. Adjusted margin, gross margin came in lower than Q2 2024. 2024 was a very high number, 57%. We came in 39% in this quarter due to the product mix and sending a lot of PC sensors, the FAP 10 sized, which has a lower margin. I'm very proud of actually launching two new products. We have launched the NEXT Granite, which is the FAP 30 sized sensor. It's a sensor that we communicated back in 2024, and now we actually have it live on the website. I'm very happy to, if you look further down in the slide, we actually got the first order as late as yesterday, and we announced this now at 8:00 A.M. today. It's a breakthrough order. It's a mass production order, the first order of the FAP 30, which demonstrates a lot to us, and we're very happy for that. We also launched the NEXT Basalt L1 Slim, we have called it previously. It's a FAP 20 sized match-on-chip type of device that is targeted for the point of sales terminals and other. It's an L1 certified and targeting the Indian market. We also came in with six new design wins. You may have remembered last Q1 was actually also six new design wins. I believe we had a target in 2024 on having 12 design wins, and we had the same target this year. Now, after six months, we actually have 12 design wins already, showing the actually acceleration in the market. One of the design wins I will go through in a later slide, which is the IAM, the Oyster 3, the first high volume order for Oyster 3 Reader, came in at NOK 2.5 million. Also, immediately after Q2 close, actually just left the press release, actually, we have a potential private placement to solve the short-term liquidity needs. You can take the next slide, please. We have now guaranteed of NOK 15 million and maximum NOK 20 million on a potential private placement from existing shareholders, which, of course, is very thankful for this contribution. This will be announced and discussed a bit further as well. This, of course, solves the short-term and the acceleration growth of the FAP 30. We do have an expectation that we will be cash positive in Q4. We can go to the next slide. I hand over to Eirik on the Q2 financials, please. Next slide, please. Thank you, Ulf. Reported revenues were NOK -2.2 million, and adjusted revenues were NOK 4.3 million in the quarter. The difference between the adjusted revenues and the reported revenue is NOK 6.5 million. These are relating to certain adjustments that I will explain on the next slide, relating to the difficulties in China in particular. When it comes to the gross margin, the adjusted gross margin was 39% in this quarter, and that's due to product mix that we have in the quarter. On adjusted operating expense, we came in with NOK 15.9 million, and it's slightly lower than the previous quarter. There is some certain element of seasonal adjustments there, like vacation and so on. The adjusted EBITDA was NOK -14.2 million versus NOK 6.7 million in quarter two 2024. The main reason for the lower adjusted EBITDA is the revenue adjustments that we did in the quarter and also the impact from lower revenues and product shipments that Ulf mentioned. We ended the quarter with cash of NOK 22.1 million versus NOK 39.9 million at the end of quarter one 2025. We experienced the negative operation cash flow due to the lower revenues in the quarter, but also certain continued slowness in the payment of account receivables. This is expected to improve in quarter three and quarter four. We're seeing improvements there, especially on the new business that we are doing following our improved credit review process, as well as now we are doing a new factoring deal that we also explained a bit about in this quarterly report. The highlights in this quarter are the slowness in China and the market pause in India is still impacting the quarterly revenues. It is fair to say that we have multiple one-offs that are impacting our quarterly results. We're expecting improvements in quarter three and also expecting to see some new developments in China that we are targeting there. Next slide, please. How can we explain the adjusted revenues in quarter two 2025? First of all, there was an accrual for extraordinary discount relating to China-ID products. What we have experienced is that our distributor has been slow in selling our products. The main reason for that is the high price that we have set for this product. In order for the distributor to make a certain margin, we have made them this offer to have the discount so that they can increase the pace of clearing the inventory and then also clear the account receivables to NEXT Biometrics. Moreover, we also have a reversal of revenue in relation to another distributor in China. This is part of what we have found relating to irregularities. This was not something we could control, but we have booked this reversal. We're now targeting to repossess the products and try to sell them to other parties in the market. When it comes to the revenue restatement, this is explained in a stock exchange notice that we sent out yesterday evening. The net effect on the revenues is NOK 12.6 million. This is unfortunate, but I think it's a fair assessment of the situation as it is now. We will continue to work on this. We will inform the market whenever we see an update of the financials for 2024. This is a preliminary restatement. We will get back to you once we know exactly how this will impact the already issued financial statements. At the same time, we also booked a cost reversal on other OpEx of NOK 3.7 million in quarter two and NOK 3.7 million in quarter one 2024. We expect the impact of these unique standalone events to be resolved in the second half of this year. We have a healthy revenue pipeline. Together with our efforts to improve compliance and cash collection, as well as credit checks and other measures that we're working on, like doing more deals on letter of credit and prepayment, this will help us manage the situation. I will give it back to Ulf. Next slide, please. Thank you, Eirik. Thank you. As we said, there's a Q&A session in the end. Let's move into the business and the business market and product updates. You can take the next slide. I think we all in this call know what we have been doing the last, basically, few years. We have, of course, developed products. We have the Oyster 3 ready. We just got the first larger mass production order, as I said. We have a FAP 10 sensor, which is mainly based for laptops and small access systems. We have our FAP 20. It's a larger size, and it's perfectly fitted for the governmental ID products. High security and reasonable costing on that. High gross margins for us. We introduced to you a few, one year back, that we will develop the FAP 30 sensor. That's now in place. It's in mass production grade. It's in our factories right now and looking fantastically good. I have a separate slide on that later on. We as well have, as a company, have facial recognition and touchpad solutions in the same area to have separate legs to stand on. That's the baseline of the company. We have worked with, of course, all our design wins. We are now at a number of 76 different design wins, different customers, or different products within the same customers. You have heard about ACPL. We have one additional OEM in India that is very soon to be certified as well. We have Comlink in Bangladesh. We have a number of different point-of-sales customers that are both in India and in China and supplying the world with point-of-sales terminals. We, of course, have other OEMs that are supplying to Africa, to the U.S., and so on. Now we are starting to get in FAP 30 customers, which is fantastic. That's actually slightly different customers than we have used to, and the market is slightly different. I will also go through that on a separate slide. We have a total of 76 different customers. Some, as you may understand, is one-off. It's one project, one delivery, and then nothing more. We have this recurring business, which is what we are relying on. That's why I'm confident to say that NEXT, in the near term, will be very profitable. What has taken so much time for us is actually certifications in the different countries. There are different certifications in different countries. India has its own. Asia, Africa have mostly relied on MOSIP, which is a modular open-source platform similar to the L1 in India. We have a few certifications in the U.S., which are completed. We have completed a China certificate, so we can sell into China, and Nigeria, Pakistan, Malaysia. I can continue. Right now, we are on the edge of actually being qualified also in Bangladesh. This is the mandatory step in government ID. If you want to be on the market, you have to have these certifications. As you see, we are soon covering the globe, and we are therefore accelerating and expanding both the market and our OEMs' markets. You can take the next slide, please. I'm coming back to the NEXT Granite, the FAP 30 product. What's new since Q2 is actually we have renamed the product itself. We have used our Scandinavian heritage, and we are using stones. Granite is a very strong, very powerful, very secure stone itself. This product actually serves different markets and different use cases, slightly different use cases compared to where we are in the FAP 20. It's expanding our product portfolio, of course, moving up in the value chain. It's a higher average selling price compared to FAP 20. Repeatingly, it's not a replacement for the FAP 20 for a certain customer. It's a totally different market for our customer. It's addressing a market segment with higher security requirements. It can be, for example, enrollment of a population, enrollment in a bank, sort of type of use cases. It is attractive for high-end markets such as this government ID. It could be voting systems, for example, enrollment, I told you, healthcare identification. Where we see this product being used is in the high-end, high market potential in Africa, in the U.S., and South America. We have seen that the development we have done lately, and when we planned this FAP 30, we have even more impressive results than we expected, actually. We have, of course, technical terms that it's we have a better image, we have a better sort of coating, and so on. We have a much more impressive result than previously, FAP 20. We have a very, of course, very crisp and phenomenal image quality, which is key in the governmental ID area. Again, early samples are already passed customer criteria, and they are therefore ready to place the order, which they did yesterday, one of them. We are expecting additional orders very, very soon as well on this FAP 30. We are looking forward to that. This is, of course, a product with very, very high gross margins compared to FAP 20 as well. We have the NEXT Basalt L1 Slim, the FAP 20 size product, which is actually combining our proven Basalt sensor, the FAP 20 sensor, with an MCU. It's creating a system, a match-on-chip system, which is actually the slimmest of its kind going into the point-of-sales terminals. They have limited space, yet they need a large sensor. I will say that we are unique in being able to provide this type of sensor. We are right now being integrated in a number of different point-of-sales terminals. Fantastic to see. You can take the next slide. Next slide, please. I'm so happy to see this, actually. We actually secured the first FAP 30 order. It's not just an order. It's a mass production order. It's confirming the product. It's confirming the value proposition we had, and it's confirming our market demand. It actually confirms that NEXT Biometrics now has more and higher security products. This partner, we actually announced already with a memorandum of understanding in December 2024, where they have an ambition to go into markets. Now they have tested our product. They have integrated it, and they are now planning two new high-demand devices. One is a wired fingerprint reader, pretty common in enrollment scenarios, and one non-wired, so finger reader, where the operator can have a more standalone type of fingerprint reader. The order value is NOK 3.2 million, and the deliveries are expected to happen before end of Q4 this year. You can take the next slide, please. Also happy to share that we secured our first major order for identity and access management, IAM solutions. It means that in the connection with the PC. This is actually an order for deployments in the U.S. and EU, and it's a global leading IAM player. They have more than 40 million deployed users and licenses abroad, which is fantastic for us. This is the initial order, and deliveries are starting, actually almost finalizing, I would say, in Q3. We are expecting sales to grow within this field and with these specific customers to between $2.5 million- $5 million, which is fantastic that we are in this. This was announced August 1, so it's not recent. It's a few days back. Next slide, please. What are our short-term priorities? I would say, of course, release the cash from the working capital. We need to complete a few customer projects and make sure that we are a part of the ramp-up of the end customer deliveries, so we actually can scale up these deliveries from distributors, but also, of course, from the deliveries from us. I'm expecting a normal quarterly revenue based on where we are at this moment and the pipeline we have. Now we have a few sensors in the channel, and we are now restoring that. With the following ramp-up in India and China restart, I'm expecting normal quarterly revenues going forward. The pipeline, I would say, to try to easier explain, it's recurring revenues, the existing contracts, the existing customers of ours that are placing recurring orders. We have then the design wins, which is also something that is on top of the recurring revenues. Then we have the tender-based, the one-time revenues, which could be small, it could be very high. I will have a bit more detail on this, but this is what our short-term expectations are and what we're working on. You can take the next slide, please. If you see, now we're getting into a more stable recurring situation for the company. We are organically growing in this, and we're very close in, again, being cash positive in the next quarter. We, of course, can grow with these current products. We look forward to a fantastic second half year and even more successful 2026. That doesn't mean that we are stopping there. We are actually looking and considering consolidating the market. There are, of course, potentials to grow in this area. As you saw, the IAM business is one part of where it's very close to biometrics. That could be one area to look into. It could also be to look into a higher government ID fingerprint sensor market to complement the technology we have. We are very uniquely positioned in the government ID and high-end fingerprint sensors. We are actually looking a bit more into our next move in this. Not saying that we are doing it right now, but we are seeing in the near future that we should consider consolidating the market to become a better and stronger delivery partner in this area. You can take the next slide, please. I divided the sort of revenue in three. When I add those three revenue streams, we will be reaching close to NOK 50 million per quarter. That will happen during 2026, I'm very confident in. We are now seeing recurring quarterly revenues. Despite the Q2, we have parts of the products in the channel, which is actually AR R instead of sales. Now, when the channels are moving down in size, we believe we have predictable, scalable between NOK 25 million-NOK 30 million expected with the different contracts we have and partners we have. On top of that, we have the design win revenue. That's less regular, but it's actually expanding our customer base, like the six design wins we took this quarter. As we have presented previously, from a design win until its revenue, it could be potentially between 12- 18 months, depending on what kind of application the customer is actually building. On top of this, where I see actually more and more queries coming into the company is the large tender and one-time revenue. That's a larger type of projects we are now bidding in. We have our company reputation, our company brand is actually showing that we are actually now inside these large tenders. We have taken the company to become one of the major players in the government ID. Therefore, the large tender one-time revenue will actually be very, very fruitful for us. We are ready for the full operational momentum by later this year and early 2026. As of right now, depending on the cash situation, you can read out in the quarterly report. We are, of course, having a few AR coming in from customers since we are now taking deliveries out of the channel. We have a few irregularities in the China channels, which are actually products that will be sold once again when it's actually taken from one customer to another. We are only, I would say, very few months away from this holy grail that we've been working on very, very, very thoroughly. Looking forward to this next quarter and, of course, the next. I'm always positive in the outlook of this. I think you can take the next slide, and then we can take a Q&A. Of course, we have short-term challenges in the channel. We are entering the second half with confidence and optimism of the actual sales pipe, which is fantastic. As we have said, we have 76 different customers in this area. With our expanded product portfolio, which means the FAP 30, with very large gross margins for us, our growing partner network, the NEXT brand, and existing innovations underway, NEXT is well positioned in our sustainable growth going forward. I would like to end there, and we'll go to a Q&A session, please. You can take the next slide. Yeah, please enter your questions in the Q&A. There is a separate Q&A section in this call. We can start with the question I received on email, Ulf. There was this question about when are you going to deliver the first FAP 20 order, but I guess that's already answered in the news release that came out today. FAP 30, you mean? Yes, FAP 30. Yes, yes, yes. Yeah, yeah. The first order is in, mass production order. It's for an OEM that signed an MU. Deliveries will be completed by Q4 this year. That's the first request from the OEM. I will say that we are working with a few partners that we can see deliveries even earlier than that once we get the order. Thank you. Yeah, we're still waiting. I don't see any questions right now, but we can continue on for another 30 seconds before we close, unless we are ending this call. Thank you. No more questions and answers session this time. Let's keep in touch. You have our email address. You can call me or Eirik if you have specific questions. Thanks a lot for your attention. Have a good day. Thank you.