Good morning, everyone. Welcome to the Q1 2021 presentation for Play Magnus Group. I'm Andreas Thome, the CEO of the company, and with me today is, as always, our CFO, Dmitri Schneider. I will share some business updates and recent developments before Dmitri takes the financial section. We will also today have a Q&A in the end. You can go to the financial highlights slide. First of all, I want to say that Q1 was a really strong quarter for the company, and I'm very satisfied with the overall progress that we have made. The bookings for the quarter was $5.3 million, which is up 221% year-over-year. Revenue ended at $4.6 million, which is up 301% year-over-year. We reached 58.7 thousand users, which is up 130% year-over-year. The average ARPPU remains strong at $17.6, which is up 50% year-over-year. We have also updated our bookings target to $ 21 million-$ 23 million, versus our previous guidance of $ 19 million-$ 21 million. We have a solid cash position of the company, $33.5 million as of this week. We also paid for the recent acquisitions that we have announced. You can go to the next slide. If we take a closer look at the Q1 bookings and the guidance, as I said, Q1 was good. It was definitely higher than expected. We kept a good momentum in the paying users. We had very strong progress in the e-learning and courses segment. Also our tour partnerships for the Meltwater Champions Chess Tour, they were exceeding expectations. As we have acquired companies, we need to also look at what was organic and what was inorganic. In this quarter, the inorganic growth accounted for 70%, around $0.9 million. That means that the organic bookings growth was 168%, which again, is very solid. Based on this good performance, we have, as I said, increased the guidance. We have very good expectations for the rest of the year, both in terms of development and growth. We know that Q4 will also benefit from the World Chess Championship match between Magnus and his opponent, which is Nepomniachtchi. This match will take place during the World Expo in Dubai, end of November into December. It's also important to note that out of the $ 21 million-$23 million, around $ 3.5 million-$4 million comes from those recently acquired companies, iChess, New In Chess, Everyman, and now also recently, Aimchess. We can go to the next slide. We had many highlights in this quarter, I tried to pick up some. First, the viewership for the Meltwater Champions Chess Tour have continued to be strong, and the tour is becoming more popular and relevant every day. We are also all about providing opportunities for the next generation of chess players, and the Julius Baer Challengers Chess Tour was launched in Q1 exactly with that ambition. When it comes to Chessable, the pace of new content has been increasing fast, and Chessable is performing very well. We're also delivering on the M&A strategy, acquiring both high-quality chess content, also now with the acquisition of Everyman and Ginger GM. Early this month, we also announced the acquisition of the learning website, Aimchess, which is also very important to strengthen our subscription business. We also announced a six years deal with FIDE, where Chessable will be their official learning partner. We acquired the broadcast rights for the World Championship matches and major events, which is very important for our fans on chess24. We can go to the next slide. Let's go deeper into some of these recent developments, but as some of you are new to the company, I will just do a short strategy recap. Chess is played by 650 million people globally and is rapidly moving online. Relative to other sports and games, chess is perfectly suited for online play and learning. The chess market is booming, and the commercial opportunities are untapped. Chess is a truly global game with many positive attributes and associations. We can go to the next slide. Over the last years, we have built a portfolio of unique and valuable brands and services, and I feel we have come a very long way in a short time. We focus on the verticals for play, watch, and learn. As you can see from the line on the bottom of this slide, most of our revenue is coming from either subscriptions or repeat buy of content. Also now we are building up a meaningful business from media partnership of the tour and from our publishers. We can go to the next slide. We are really a high-growth company, and it was really from 2020 that we were able to start taking on synergies and executing the growth in a meaningful way. If you look back at 2019, our bookings were around $3.5 million, and now we have an updated guidance of $21 million-$23 million. The growth is really strong. Looking forward, we have a clear growth strategy. It's about scaling existing and new products, continuing to invest into the tour, and do smart M&A. We have set ourself a long-term goal of $60 million in 2025, and with the current pace of growth, we could be in position to reach that goal before. You can go to the next slide there. A bit more about the tour. The tour is growing fast both on Twitch and on YouTube, and it has now reached 78 million unique views this season. The tour is really about driving traffic into our ecosystem of services, and we actually see a 58% increase on our own web properties on the nine days of the month where we run the tour versus the other days. The tour is also performing better financially, better than what we have expected, and we now see a clear path to break even. We were fortunate to have some great Norwegian companies to support us as partner for the tour in the beginning, and now we are also seeing more international companies becoming interested. The pipeline of partners for the tour is really increasing, and we see some exciting opportunities in the next quarters. We also see that the media rights and the partnerships for the tour can become very valuable over time as both the audience and the relevance of the tour grows. Can go to the next slide there. The Challengers Tour provides more opportunities for juniors, and it also encourages young women around the world to compete in chess. We launched this initiative together with chess legends Judit Polgar and Vladimir Kramnik, where 24 young chess players are competing in five tournaments this summer. The winner of each of these challenges qualifies for the next event in the Meltwater Champions Chess Tour. We see that these young talented players are wonderful ambassadors for chess, and we are very proud to have them competing in our tour. Can go to the next slide there. One of the reasons we raised money is to continue and strengthen our position in chess content and the learning space. As part of this strategy, we announced late last year the acquisition of iChess and earlier this year the acquisition of New In Chess. This quarter, we announced Everyman Chess, which is a U.K. publisher with a strong catalog of content both from Kasparov, from Yasser Seirawan, and others. We also strengthened our long-term agreement with Simon Williams, GingerGM, and he will produce multiple courses on Chessable over the next two years. We also acquired his domains and websites. We can go to the next slide. The number of courses on Chessable is growing really well. We now have over 500 courses. In addition, iChess, New In Chess, and Everyman are all bringing more content. The integration of New In Chess is going very well, and we have multiple titles launched. We also dedicated the last tournament of the Meltwater Champions Chess Tour to New In Chess, the New In Chess Classic. We also launched Spanish for Chessable in Q1, and we see that the user growth of this service is steadily growing. Can go on to the next slide. The recent acquisitions we did, they were all in the content space. On May 18, we announced the deal with Aimchess. We have tracked the performance of this company for some time. We have really been impressed what Anton has done with a small team and limited resources. They are delivering personalized chess analytics, and even in its early days, we see that this service has both good traction and growth potential. Since launch they have consistently been growing both to user base and recurring revenue. With Aimchess, we really see strong synergies and possibilities to integrate with our other services. We can go to the next slide. We were also very happy to announce a long-term agreement with FIDE, and this agreement has several components. The first one is very important for our fans on chess24 because we have secured the media rights, the broadcast rights for the World Chess Championship matches and the other big FIDE events for the next six years. On the other side, we also signed with Chessable a sponsorship of this. Chessable will be the official learning partner for FIDE and a sponsor of the World Chess Championship match, both now but also future matches. I think with this, I will give the word to Dmitri for the financial part. Thank you, Andreas. Next slide, please. One more slide, please. Our core KPIs continue to be very strong as Andreas talked about. Just if you look at bookings or monthly paying users or average revenue per paying user, we're very happy as to how those have evolved this quarter. This is especially so because Q1 generally the growth there is not as strong as Q4. Q4 has holidays, holiday sales, it has a lot of big chess tournaments, and Q1 generally doesn't have much of that. Also the Queen's Gambit impact certainly is starting to moderate across the chess industry, but it's good to say that it has had very minimal negative impact on our properties. For those of you that are new to our company, the reason that Q1 we are able to smooth this out is because of the Champions Chess Tour, we are able to create events where there were no events before and create that engagement two weeks out of the month. Also Chessable continues to execute extremely well, not only benefiting from the additional engagement from the tour, but just organically executing the strategy, launching great content, getting more influencers on board. Looking at the M&A contribution, obviously we have been very active in Q1 and also in 4Q. M&A contributed, but organic bookings growth, as Andreas mentioned, was 167% year-over-year, and helped by organic monthly paying users, which grew 85% year-over-year. Importantly, the average revenue per paying user was stable at slightly above $17, a little bit below Q4, very strong growth year-over-year despite significantly more users. There are more users and they're spending more than what they did a year ago on our platforms. Just also mention on the companies that we've acquired, not only are they contributing to the content on Chessable, but also as standalones, they're performing quite well. While it's still very early in their journey with the Play Magnus Group, so far they're performing better inside the group than they are on their own. Going to the next page, accelerating growth in bookings. The story is very similar to the last quarter. The e-learning and tour continue to be key drivers. I talked about Chessable a little bit. Course segments were up 337% year-over-year. Most of that is Chessable, although of course, iChess is contributing to that. The tour partnerships are coming in faster than expected and also bigger than expected. We'd signed the tour title partner Meltwater. We also had a great partner in Breakthrough Initiatives signed in Q1 when we had that tournament. Generally as Andreas mentioned, the pipeline is well developed and deal sizes are increasing. Organic bookings growth very strong. As mentioned before, the acquired companies contributed 17% of the overall bookings, so about $ 900,000. That's iChess and New In Chess mainly, and that's helping the course and other segments. Going into a little bit more on the breakdown in organic versus non-organic on the next page, we can see that not only is organic growth strong but when we take out the tour, which is a business that did not exist one year ago, the revenues there were basically zero. Now the bookings were $ 1.4 million in this quarter. Even if we strip that aside and only look at our repeat and recurring organic, so courses and subscriptions, that was up 115% year-over-year, led by the course segment. You can see here the breakdown of how it all stacks up. On the next page, talking a little bit about the monthly paying users. We grew to 59,000 monthly paying users. That's up from 44,000 last quarter and 113% year-over-year. About 8,000 of those users came from iChess customers that bought courses, as well as New In Chess customers who purchased the subscription, the New In Chess magazine. Without them the growth would still be about 85% year-over-year and double-digit growth quarter-over-quarter. The drivers are generally similar, traffic from the tour getting more popular authors, players, and influence to do Chessable courses, and they bring their own fans. That strategy is continuing to work. We still have a long pipeline of people that have signed up and will do more content over the course of this year and next. Also contributing to the user growth is The Queen's Gambit impact for Play Magnus. Certainly, this trend is starting to moderate across the chess industry, and we are already starting to see that Play Magnus' number of users is moderating as well and will continue to normalize. To summarize, we have almost 60,000 paying users each month. That's in contrast to 35,000 paying users that we presented prior to going public just kind of last fall. This is still really small in the context of the overall number of daily people that go on a chess site to play a game, to watch a broadcast, watch a stream, and just the overall monthly registered users on online chess sites. We are still really early in this journey and have a significant potential to grow the paying user base. Going on to the next page, average spend per users. As I mentioned before, the spend here is not too different from Q4, $17.60, grown 50% year-over-year, accelerating for the third quarter in a row. The contributors here are that Chessable customer average spend is stabilizing at elevated levels, and we think that will continue. Also the inclusion of iChess as their average spend per customer, similar to Chessable in being in the course space, is above the group average. This offset the higher number of paying users from Play Magnus, which is a more mass-oriented product, and the average spend there is the lowest in the group. We're very happy to have grown the number of users as much as we did, and also to keep the average spend at a pretty stable level. Going on to the next page, diving in a little bit on the tour partner bookings and revenue recognition. Tour partnerships were one of the key drivers and a very exciting part of our business. Here we try to break it down exactly when we do the bookings for each partner. Q1, it was Meltwater, Breakthrough Prize, and Aker BioMarine. In Q2, we already signed the partner FTX, and now we have the FTX Crypto tournament going on as we speak. Of course, we do the bookings when the contract is signed, but we recognize the revenue as the services are delivered. For the vast majority of these contracts, it's kind of for one year. Some are longer and can be renewed by a partner. The overall bookings were $ 1.4 million in this quarter, and we recognized about $ 700,000 of revenue. The rest is in the deferred revenue, we will recognize as the services are delivered. I should say, certainly if there's a tour title sponsor and a tournament is held, that would be considered more value than some of potentially the other obligations that we may have. Going on to the next page, profit and loss. We continue to follow our long-term strategy of investing into key areas, such as hiring into IT and content development, building out the core group functions, as well as investing into the tour. Diving into that a little bit, the adjusted EBITDA was - $ 2.6 million in the first quarter. That's versus relative to -$ 2.4 million in the fourth quarter. The drivers of that cost increase was that the tour production cost really ramped up because keep in mind, the first Oslo Studio broadcast was only kind of late November. Right now, we've reached a stable state, so we don't expect those costs to increase very much from here. As Andreas mentioned, this investment is working. We see the tour on pace to breaking even much faster than we thought originally. As we talked about before, we initially invested in the tour as a marketing vehicle for products, and certainly we're seeing that benefit. There is a chance that this could also have a lot of upside optionality over time. We've also invested into continued product and development hiring. We hired a full development team in Poland, very capable team. It's worked together for years. Andreas has worked with the senior manager there previously at Opera. Very excited to have them on board, and they've already been making a great contribution. We're also investing significantly into the growing the Chessable web and mobile teams. Chessable growth has been phenomenal. We shouldn't take that for granted. We think that Chessable can continue to grow for years at a very significant pace. We have to invest now in order for that to happen. As the company's just coming together, we are strengthening the core group functions. We hired people in IT security, hired people around human resources, legal, strengthened the finance team, all these kinds of things. Certainly for both Chessable hiring and these core group functions, we really ramped up in Q1. We do think that while we're going to invest the pace there certainly will moderate with some time and will be a bit more balanced. I should mention we were very active on the M&A in Q1. We closed three acquisitions in the quarter and Aimchess in May. There were elevated advisor fees in Q1. That was about $166,000. That's going to normalize. We're not going to have that kind of a cost in 2Q. Overall, happy with how things are going. We're executing on our strategy, and there's a lot of operating leverage in our model as the company continues to scale. Going to the next page, we continue to have a very strong cash position. We have about $ 33.5 million as of a few days ago. We received $8.3 million in warrants that were exercised in Q1. There are no more warrants outstanding. We spent about $ 4.5 million on payments for acquisitions in Q1, then some more additional payment for Aimchess since then. Looking just at the balance sheet a little bit, I should point out we did acquire a couple publishers, there are some minor changes here. For example, in accounts receivable is a bit higher than it normally would be, and that's because the publishers do get the cash on a little bit of a lag, like two to three months relative to, let's say, Chessable, which collects revenue cash flows right away. Just in case anybody sees that's the reason for it. I think we have a cash flow statement now. Certainly, we showed that in the annual report, but we didn't show that in the last quarterly report. We have that here. That kind of breaks down how we spend money on the acquisitions, the warrants, those are kind of the big points. The point, we have a great balance sheet. We are investing in long-term growth. The investments like the Tour are paying off. Investments into Chessable are paying off. We are going to be smart about companies that we acquire and how we invest going forward into the future. With that, I think we will take some questions. We can go to the Q&A slide. Great. Thank you, Dmitri. We'll now move into this Q&A session. Please submit any questions you may have in the webcast player. We'll start with a couple questions from Øystein from ABG. Can you say something about the initial response from the new Chessable app? Did this launch have an effect on Q1 bookings? Yep, I will take that one. The app initially launched on iOS, and the team is hard at work working on Android. We haven't marketed it very much yet until the Android launches, we have seen a positive contribution to users. It's still early because we haven't really marketed it, there is a positive contribution. We do expect that to increase more over the course of the year. Yep. Also, it's very important to have the apps as we are making Chessable more into a mainstream product and going for a larger penetration of the market. Yep. Another question from Øystein. Which new languages are you planning to add to Chessable, and when will this happen? Yeah. We launched Spanish, and we're seeing a nice response there. We're launching much more content, a lot of the big Spanish kind of authors and influencers are very excited to work with us. Of course, you know that chess24 has the leadership in the Spanish area across the chess industry. German is the next one that we're working on and very excited about there because there's a very strong history of chess in Germany. Also high willingness and ability to pay from that user base. We also already have several high-profile authors that are German and can speak in their native language. Of course, Jan Gustafsson is on chess24, but also Christof Sielecki, one of the original Chessable authors, very popular. I'm very excited to launch that one. We're also looking at not languages, but other regions like India, for example, which of course has its own dynamics. It's not exactly super straightforward, but we do think longer- term there's a big opportunity there. We have several questions about the Playzone here. One of them is, are we planning to build one or buy one? Yeah. We are building one. This Playzone is already being used by the players in the Champions Chess Tour. This is one of the reasons why, as Dmitri showed, we are investing significantly into product development. This is one of the company's core initiatives and most important initiatives is to make chess24 Playzone much more competitive, both on desktop, but of course also mobile. This is a big part of our strategy. How scalable is this business? There's another quarter with solid increase in revenue, but costs are increasing even more. Yeah. I can take this. We think there's a lot of leverage in this model. If you look at just the payouts on Chessable, the gross margins there are very high. If you look at the tour, there's initial fixed costs that have to go into building an amazing product that hasn't been seen in the chess industry today. After that, getting a lot of these tour partnerships, that's all operating leverage to the upside, and that's all brand building that's coming in on the investment today. If we already look at, for example, tour partnerships, we only recognized $ 700,000 of revenue this quarter, we booked $ 1.4 million. If you add another $ 700,000 to our revenues, which will be recognized over the course of the year, that makes things look a lot better, for example. This is still early stages. It's only been six months since we launched this. Also with Chessable, for example, we needed to hire a lot of developers for the next stage of growth because we want to make the product more mass friendly, really kind of get it to beyond only the very core and engaged users. We're not going to need to hire that many developers over time. At some point, there's going to be a stable state, we think that hiring for the balance of the year is actually going to be much more normalized relative to the ramp-up in Q1. Of course, there are efficiencies that we have in the business as we acquire companies, and we are looking at that. We've already identified a plan. Overall, we think this is a very scalable model, and we do expect the costs to normalize with time. Can you comment on the momentum going into Q2? Yeah, I think Q2, again, for all of our businesses has been looking good. We are already in two-thirds of the way in the quarter, so we have high visibility. I would say that both in terms of courses, it's continuing to perform strong. User growth is performing to be solid. The Champions Chess Tour and the partnerships is definitely also, as I said in my presentation, is definitely also going the right way. We are very much confident, and this is also the reason that we were able to increase the guidance for the year. Yeah, overall, it looks good. You announced a partnership with Breakthrough in Q1, where Mark Zuckerberg is one of the three members. What is his involvement with Play Magnus? Mark Zuckerberg doesn't have a direct involvement with Play Magnus. Of course, Mark Zuckerberg is one of the behind the initiative of Breakthrough Prize, and we had a strong partnership with Breakthrough Prize, which we are also continuing now. This, I think it was a very successful partnership. What we see very important for the Champions Chess Tour is that each of our tournaments, we try to center it around a relevant theme. That was what we did with Breakthrough is that we centered it around the theme of space, and we tried to connect stories between chess and these relevant themes. I think that's something which we did well, and we created a lot of exciting content then. Another question here. Is there a plan to consolidate services, as users may not want to log into various sites to use the different products? This is something that we are working on very closely. It's not only about logging in, but it's also about making the different services relevant to each other. I think we see big opportunities for integrating better our playing experience and our learning experience. I think that's the area which we are focusing the most on. People play in a Playzone, and based on the way they play, based on the needs for learning, we will try to recommend better content. This is also, of course, one of the reasons which we acquired Aimchess, which has a lot of these products and features. Okay. We now see that tour has already signed many partners. How should we anticipate bookings moving forward for this now large segment? Yeah. I think we should continue to see this segment growing. Of course, it will be a little bit more, should we say, up and down, I think, than our other digital services. There will be some quarters where we book a big partner, and maybe there are some other quarters where we are not booking such big partners. The revenue, I think we will see being much more stable. As Dmitri said, we are taking these revenues over time. We are still very early days for the Champions Chess Tour, and we are bringing in new partners all the time. I think also as the tour continues to grow its audience, we should believe that the size of these partnerships is increasing over time. It's definitely an area which I think we should continue to be very positive about. Yeah. We're also introducing new elements with the Challengers Tour, for example. That's kind of a secondary tour. Yep that sponsors can get access to, so that increases the inventory of potential partnerships. There's just a lot of potential here, and it's only been really six, seven months since the tour has really officially launched with the new broadcast. Yeah. I would also add to that as you have seen from the beginning, we are focused very much on partners, like title partners for the tour and for the different tournaments. Moving forward, there will also be more emphasis on segment partnerships. Also as for example, Airthings you can see is the air quality partner for the tour. We're also working on defining more opportunities for integrating other types of segment partners and verticals. Somewhat related question here. How do you see the segment split between courses, subscriptions, and the tour evolving over the next quarters? Yeah. We continue to think that the course and tour segments will continue to be quite strong over the next couple of quarters, and subscriptions will also. Of course, chess24 is working on the Playzone, working on improving their product offering. Aimchess is also a great subscription service. So we think the split is probably fair the way we currently have it. Maybe a bit more in courses and partnerships over the balance of the year. Going forward, we do think that subscriptions are likely to become a bigger portion. Do you already know when the breakeven point is likely to be? As we said before, we do think that by the end of next year, we should be able to reach a breakeven run rate. The exact number, we're still kind of trying to understand exactly. We're not giving a precise number, but I can say that we are becoming more confident that by the end of next year, what we said is we're on path for that, for breakeven by the end of next year. What margin do you expect for 2025 with reference to the revenue target? Yeah. As we said before, we're targeting a 30% EBITDA margin. Of course, we will see how the businesses evolve, the kinds of contribution streams that we have. All our main contribution streams from Chessable, from the subscription business, and the tour are pretty high gross margin businesses. Once we stabilize the OpEx and build out that core infrastructure, we think that the gross margins will actually be quite strong. The OpEx, at some point should be stable and 30% EBITDA margin is what we're looking at. Will there also be amateur championships with different ratings so I can play too? I think that a lot of these opportunities will come when we full launch the new chess24 Playzone. Yeah, we have started on the top, but we're definitely going to also create opportunities for all levels. With bookings guidance of $ 21 million-$ 23 million for 2021, you don't expect much growth for the remainder of 2021 since bookings were $ 5.3 million in Q1, annualizing $ 21.2 million. Will there be a slowing of growth, or is that expected? Yeah. We want to just raise to where we feel is quite certain. Of course, Q4 historically is much better than all the other quarters, and you can see how we did in Q4 before. Could we be at the higher end of that or even more? It's certainly possible. Looking at Q2, we don't foresee a slowdown. We don't want to overpromise here. We feel very good about the business. We feel very good about the 2021 to 2023. We feel good about the Q4. As the time comes and we have more certainty if and when, we will update the guidance more. I think I also want to say we are at the stage of this company where we are seeing that growth is coming, and it's a very fine balance for us as management, how much we push our teams on revenue and how much we push our teams on product development for the long- term. And this is a balance that we have to find. Right now, we are seeing this growth, and as Dmitri says, Q4, it could be much, much better. But I think we take it step by step. Can you comment on the M&A pipeline? Will content acquisitions continue? With content, with traditional kind of publishers and digital sites, I think we've acquired many of the properties that we really wanted. That should probably slow down unless there are really interesting opportunities that come to us. The kind of content that we will be focusing on going forward are more the influencers, creating deals not just for them to create original content, but also for them to be doing a lot of creation across various different parts of our ecosystem, whether it's Chessable courses, streaming, live coaching. There's a lot of room to get more influencers and more popular content creators. From the perspective of acquiring content that has already been created, we feel very happy around the acquisitions we've done, around the valuations that we have acquired them for, how those integrations are going, and we'll focus in the future more on bringing folks like Simon Williams into the mix, and getting them more involved with the Play Magnus Group. I can just add to that, we have an active M&A pipeline. It's likely that we will continue to do more M&A. This also takes a lot of capacity for us as a team. We also want to onboard the companies that we have acquired now. As Dmitri said, we are very, very satisfied with the ones we have already got in. We are definitely looking, and we are in some processes. Do you see any impact from the decline in attention surrounding The Queen's Gambit? Not so much for our business because we see it. Let's say there is a bit less general interest in chess, and we see it from some of our more mass-market products like the Play Magnus apps that benefited a lot from more like a casual interest of chess. Our products are more geared towards the people that are a bit more engaged and let's say the people that are already interested in chess and people that are buying courses and people that are playing on a regular basis. I think for our business, we are very little impacted by this. Even the sites that, let's say, some of the companies that we acquired, they had a lot of traffic. Yeah. That's important. Some of that traffic moderated, but the revenue has basically stayed the same, which just shows you that the core users are continuing to spend, and the casual users, their attention is moderating. As kind of was the theme throughout today is that general interest that was brought onto chess, brought onto Twitch, brought on in the influencer community, that's really great for partners because they see how chess is mainstream, and they want to partner with a credible company in the space with a premium product. This is exactly what we're offering to them. To partner with a brand and a game like chess, which has a very clean reputation, which has a lot of history, it's just a really great thing to be able to partner with a company like ours. We're seeing that in the amount of inbound calls that we're getting. We have a question here asking about if there are any IR initiatives planned, particularly towards institutional investors. It's definitely an area that we are going to spend much more time on. We think we have a great story. We spent, of course, some time on the investor community around our listing, and now we have more evidence about how this company will evolve, and we feel very confident in this story. We think it's time for us to start to become more engaged with the investors and take this to the next level, to put it like that. I think that is all the time we have for questions, so thank you to everybody who sent in. If there are any further questions, feel free to reach out to ir@playmagnus.com, and we'll endeavor to get back to all the sent questions as soon as possible. I'll now hand back to Andreas to close out the presentation. Yeah. Thank you very much, everybody, for participating. We also have a session later today with SpareBank 1 that I know that somebody is participating in. If you have any other follow-up questions, please feel free to come back to us. Thank you very much.