Hello and welcome to Canopy Holdings 2022-2023 Q1 presentation. I'm Christian Erlandson, your new CEO of Canopy Holdings. I joined the company only a couple of months ago, and previously have been running profitable, Purpose-Driven businesses in the software as a service sector for more than 20 years. Also joining me today is Ivar, our CFO. He will be taking you through our financials and our KPIs, so stay tuned. We will start with our usual agenda with the Q1 highlights and then leading on to the financials and KPIs. After that, it will take your questions. Those of you that are new to Canopy Holdings, you know, what we have created is really a platform of services to help resorts, attractions to increase revenue, reduce costs, and improve the customer journeys through digitization of key processes. We're early on in this journey. This is a big market, so we have a lot of runway to go. In our Q1 highlights, I'd like to first start off by talking about our continued growth. We have delivered over NOK 13.4 million in revenue. That is a 59% Year-Over-Year growth rate. Very impressive. A lot of this growth has been generated by taking essentially existing products from the ski markets and moving that and selling that into the parks and attractions business, and we're beginning to see the revenue opportunity come through from deals that were closed earlier. Also, strong customer acquisition, right? We have over 241 customers. Actually 242, if you add August. And what I've seen in my short time, which is encouraging, is some Cross-Selling activity. Essentially, customers that were taking a product from one business, looking to expand the portfolio and look at all the product suite that Canopy Holdings has to offer. As I've only been with the company for a couple of months, I've had the opportunity to further my knowledge of the business, begin to really understand the team, what makes Canopy Holdings successful. I have to say, you know, we have a great team. We've got a great tech stack, a great SaaS product offering, you know, when you look underneath the bonnet, there's a lot there. I think we can do better. Early on, I've decided to take a strategic review of this business because I think we can find ways to unlock additional growth, additional profits, and build a more sustainable business going forward. The other highlight that I'd like to talk to you about today is a recent development. That is Evan Reece, our CEO and founder of Liftopia, has decided to move on, and I wish Evan all the best in his future endeavors. I have appointed Matt Cohen, our interim CEO of the Catalate business. Now, Matt has been with Evan almost from the beginning with Liftopia, so I have all the confidence in the world that, you know, Matt will be successful in continuing to drive the Catalate business. With that, I'd now like to hand over to Ivar, who will take you through the financials. Ivar? Yeah. Thank you, Christian. I'll start with P&L. As was highlighted by Christian, we had a very strong revenue growth in this quarter compared to same quarter last year, and are very happy about that. That was also, as alluded by Christian, driven by the B2B transactional revenues, which you can see in the pie chart here was NOK 8.5 million in the quarter. That translate into a growth of 60% from the quarter last year. The underlying real growth is, however, impacted by a weakening NOK this year compared to last year. The US dollar growth in this revenues was 41%. We also recognized the deferred revenues from past year's gift card sales, also this quarter of some NOK 2 million. That also made the other revenues in the pie chart grow compared to last year. B2B SaaS revenues was quite flat year-over-year. The weakening of NOK also impacts growth in our costs, as I explained, some of that growth. We also had a Non-Cash cost related to the option program, which was quite much higher than last year. We also spent, coming out of the pandemic, we spent more on travel and also spent quite much more on R&D. Together with the weakening of NOK, that explains most of increase to the other OPEX you see here. We have lower depreciations than last year, and that's a result of a impairment charge we did to goodwill in Q4. All in all, we had a net loss of some NOK 25 million, which is NOK 3 million lower than same quarter last year. I will go over to the balance sheet. I will not go into any details here, but you see the cash position here of NOK 51 million, which is some NOK 26 million lower than Q4. I want to. I'll go into cash flow statement in the next slide. But here I just want to point out the reduction to total current liabilities, which of course impacts the negative cash flow with increased working capital. Here you can see that an increased working capital was approximately NOK 7 million. In addition to EBITDA also NOK 16 million negative adjusted for the share-based compensation cost results in a negative operational cash flow of some NOK 24 million. We capitalized a little bit less in R&D this quarter on comparables for last year. All in all, this translate into a negative cash flow of NOK 26 million for the quarter. Then I will just do a quick update on the KPIs with the August numbers, which I've added after we released the July KPIs some months ago. In August, we added one more resort in the transactional segment, and we increased the total ARR by some 60,000 NOK. All in all, from August last year, we have grown number of total resorts by 9% and the total ARR by 13%. Here I will show you the breakdown of the ARR into the vertical segment, ski resorts and parks and attractions. We have been showing this for some quarters now, and we have shown the growth in the parks and attraction segments throughout last autumn and earlier last winter. Now we can see that translate into actual revenue growth. The transactional business is seasonal, so a growth in ARR numbers might be delayed before we see the actual growth translating into revenues. That's kind of how the business is. This was very quick run through, and we can move over to Q&A. Yep. The first question is, you know, do we plan to, you know, raise money when looking at, you know, the losses in the business and the current cash flow? Quick answer to that is yes. We will plan on raising money, but not without, you know, me undergoing the strategic review. This is something I'll come back to you in December and report on. Looking at, you know, some of the assets and how they're performing, you know, we already have one of the businesses that is forecasting by this time next year will be cash flow EBITDA positive. There is some encouragement there. I do see the opportunity to kinda optimize the business and find a ways to come, you know, deliver profitability sooner. It will take capital to do that, and we will need to raise money in the future. Okay, another question here. Yeah. How about the pipeline, how the pipeline looks towards the winter? I'd say the pipeline when it comes to the ski resorts, all that activity is actually driven now. We're trying to convert deals and go live before the season starts. Catalate has developed a very healthy pipeline, and we're looking to close as many opportunities and convert them to close as soon as possible. Yeah. Also a question about any measures being taken to increase Canopy's revenues per resort. Yes, in the SaaS segment, we are actively doing that. Over the last 12 months, it's actually increased by 17% the average revenue per resort. We are trying to increase that further this year. We're now invoicing a lot of resorts during September. For the transactional revenues, that's quite dependent a little bit on the winter season and the same-store sales growth that we hopefully will see there. Then it's a question about any cost savings potentials. Yeah. I mean, there's you can always find ways to save money in a business. I only joined two months ago. I'm looking for ways for us to invest in growth and invest in businesses that I believe in. I don't wanna, you know, come in and look at ways to cut costs that prevents that growth, I think. Okay. That's I think also last question. I'm gonna just end the broadcast and say. Thank you. Thank you very much, and see you. See you in December. Yep. Bye-Bye.