Hi, I'm Trond Straume, CEO of Volue. Today, I'm presenting our financial results, as well as selected highlights from the third quarter of 2023. Total operating revenues for Volue amounted to NOK 334 million in the quarter, representing a growth of 14% from the same quarter last year. Adjusted EBITDA came in at NOK 63 million, making the Adjusted EBITDA margin 19%. Annual recurring revenues amounted to NOK 254 million, out of which NOK 105 million were SaaS revenues. By extension, ARR and SaaS grew by 40% and 50% respectively, illustrating strong performance compared to the same quarter last year. Furthermore, I'm proud to announce that we've reached 22 customers in Japan and now preparing for full market entry. At Volue, we're hard at work on our SaaS transformation, and I wanted to take this opportunity to highlight the building blocks in our strategic thinking on the topic. Our foundation is mission-critical solutions at the heart of our customers' operations. We've built long-standing customer relationships with reliable solutions for decades. Consequently, we're on the right side of the fence with industry giants and with high switching cost. The outcome for Volue is an industry-leading churn below 2% and predictable recurring revenues from our current product stack. On top of that, we're building SaaS revenues with our go-to-market strategy. In essence, we're selling three things in the following order: First, the Insight platform, which is an industry-leading analytics platform, giving customers deep knowledge into the power markets. Second, we sell our trading solutions. When customers have gained insight to markets, they want to trade, and we possess the market-leading Algo Trader. Third, we move with Smart Power, with optimization capabilities built on decades of experience and combined in a unique multi-asset, multi-market platform. Further, we're in the midst of a geographical expansion to Japan. So far, we've attracted 22 customers, and we're excited for the road ahead. Looking past geographical expansion, our markets are large and fast-growing. We estimate our current markets to have an ARR of NOK 20 billion. These markets are fueled by global megatrends, and the installed renewable capacity is expected to grow with a CAGR of 10%. Consequently, we see ample room for growth going forward. Altogether, this makes Volue perfectly positioned for profitable growth and business model transformation. When we look in the rearview mirror, we find evidence supporting our ability to execute on the perfect position we're in. Since listing in 2020, we've increased revenues by 55% and ARR by 62%. SaaS revenues have grown by 151%, bringing validation to our go-to-market strategy. The result is that SaaS revenues are outgrowing ARR, which in turn is outgrowing operating revenues. From a platform perspective, we're pleased to see that the number of algo trades on the Volue platform has increased by 114%. This is a testament both to our ability to bring customers onto the platform and also the underlying growth in the market, which is moving faster and faster, precisely like we want it to. For more details, please find our quarterly presentation published on our website, volue.com. Thank you for your attention, and have a great day!
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