All right. Welcome, everyone. We have to time it with our live streaming, so that's why we need to have the countdown. Welcome, everyone, for our Q3 reporting. It's really nice to see how many people we are here today. Counting from our first quarterly report this year, we have been a lot more people live, and normally we have 67+, 60, 70+ joining live as well, so that's, that's really good. On behalf of the company as well as the management, we are really excited to present for you today. And for today's presentation, we have 4 members from the management joining and presenting. We are hoping to come through or run through the presentation roughly in 30 minutes or so. Then we have Q&A at the end. Myself, Sten Kirkbak, CEO and Founder, I will take you through a quick intro. Then we have our new CFO, Knut Stålen. More than 30 years experience from the industry, also been in a lot, publicly listed company. Really appreciate him joining the company. He will take us through the financials. Then our COO, Kjetil Fennefoss, will take us through some of the operational updates, and there is a lot of them. And then Jason, our new Executive Vice President for our kids division, will take you through some of the key takeaways from our watches performance in both hardware and software. I will end with a road ahead and try to give you some indication of what to expect. And then we end with the Q&A. All right. Without further ado, let's just jump into the numbers, and I will start with Q3, so this quarter, the last quarter. We had group revenue of NOK 190 million, which is up 37% year-on-year, of which the revenue from our services arrived at NOK 56 million, up 30% year-on-year. Our really core focus this year, to drive our subscription and service revenue, we ended with 226,000 subscriptions, of which 194 came from our SIMs, and 32 came from our new value-added service and premium services, which Jason will take you through some more in the details later. Core focus this year, to drive our gross profit, ended up 45% to almost NOK 90 million. One of the major accomplishment is our turnaround. We improved our EBITDA this quarter with NOK 24 million, arriving on NOK 8 million reported EBITDA. Also, we ended the quarter with NOK 117 million cash in the bank. If we look at the year-to-date performance, we have had group revenue of NOK 477 million, up 48%. One key takeaway is from our previous year. In total, we arrived at roughly NOK 500 million. Going out of Q3, we have almost performed the same revenue as full last year. Also, total recurring services year-to-date arrived at NOK 150 million, which is up 35%. A total of gross profit, NOK 233 million, up 40%. Also, as we would like to emphasize, the turnaround on the EBITDA improved by NOK 35 million to a total of reported NOK 22 million. Of course, cash balance ended at the same, NOK 117 million year-to-date. Before moving forward, I would just like to use one page to emphasize some of the key takeaway we told the market in our capital markets day and also in the early reporting of this year. Some of the key success factors and the deliveries from us to the market would have five key focuses. One, and number one, focus on profitability this year to make a turnaround from last year's -NOK 33 million to a positive number this year. Major priority for the company. However, while still driving focus on profitability, we should also showcase growth, that we could do that at the same time, and we set the expectations around the market expectation, roughly of 15% CAGR. So the market, when we started this year for kids wearable, expected roughly a 15% growth, which we would like to beat. Third focus is to move from the focus on hardware to analyze recurring service revenue. It's no point to just grow hardware sales as long as we cannot drive increase of service revenue with high profit. So turn around to focus on ARR, and also, as Kjetil will take you through in a lot of details, how we managed to really drive down our cost in percentage of revenue, both OpEx and focus, of course, also on the CapEx target, which we will come back to. And potentially the one with the biggest effect this year, we said, "We will say a lot more no, than we will say yes." As a startup, we try to do everything and say a lot of yes. This year, we would like to say as much as possible, no. it is to emphasize our key focus, 9-3-2 strategy, which is we went from 22 to 9 markets where we have same connectivity to drive service revenue... to finalize and launch our 3 new products and sell them if we can drive service revenue from our 2 price point with SIM, basic and premium, which the team and Jason will come back to in a second. As my colleagues present, I would like you to particularly pay attention to 5 topics as well. When we had our quarter one, first quarter presentation, we tried to emphasize the restructuring of the business from Q3 and Q4 last year, how we do that restructuring, and implement our efficiency plan. That was some of the key takeaway in first quarter report. In our second quarter report, we tried to demonstrate, as we said, how we would improve our distribution strategy, how we now have finalized the MVNO setup to drive service revenue, and to demonstrate the profitability in our business case. In Q3, I would like you to pay particular attention to the breakthrough in three revenue-sharing model, because previously, quite a lot of the volume, actually 50%, comes from telco sales, where we previously have had no service revenue. We have had a breakthrough and announced three revenue-sharing model with telcos, which Kjetil will take you through. At the end of the presentation, we will come back with some insight how the market is performing, and even in a declining end consumer tech market, we have managed significant growth. We have also managed 13 percentage points reduction in marketing and other OpEx. We'll review the details. One thing that a lot of companies, tech company or anyone selling to end consumer, has struggled with this year is to push the increased cost to the end consumer. Normally, companies today are reducing their own margin and are not able to transfer that cost to the end consumer. We will show you how we actually have managed that and improved our profitability in that regard. It's really nice to end a quarter with annualized recurring service revenue with very high margin on NOK 222 million. Some key takeaways you can pay attention to as my colleagues will take you through the details. Now for the exciting part, the financials. Knut? Q3 was another good quarter revenue quarter for Xplora, with 37% revenue growth year-over-year. It's important to note that in Q2, we had one-off revenue from the master distributor agreement. So as a result, Q3 stands out as the strongest revenue quarter. Xplora was listed in November 2020, and the Q3 2020 revenue number have increased 4x, going from NOK 46 million to NOK 190 million in this quarter. The revenues are consist of device revenue and services revenue. First, the device revenue. And as you can see, we have achieved a 23% year-to-date unit growth, and as you can see, we have consistently outperformed last year's device sales. The chart on the right shows when a customer, for the first time, activate their watch, and Germany represent the largest market. I would also like to see the focus on U.S., that has a good growth, going from 2% in Q2 to now 5% in Q3. So it's a good growth there. If you look at the services revenue, our subscription numbers have steadily grown every year for the past few year. But in 2023, the subscription have had a level up compared to previous years. And that has resulted in an increase from NOK 46 million a year ago to NOK 56 million in this quarter. Norway represent the largest contributor to this service revenue number, and Sweden is a good number, too. When you look at the P&L, we had total revenues in the quarter of NOK 190 million, that's up NOK 37 million, and the device revenue ended on 134 million, that's up 41% year-over-year. We have managed to increase our device revenue by selling more profitable products, and therefore also increase the ASP from 780-1,072 NOK per device. This ASP is approximately at the same level as previous quarter, so we are in a good flow there. If you look at the total operating expenses, we have total expenses in Q3 2023 of NOK 78 million. That's payroll, marketing, and other OpEx, compared to NOK 75 million in Q3 2022. Payroll in this quarter... The payroll expenses in this quarter includes also a non-cash option cost of NOK 4 million. In addition, we have in Q3 also started to make provision for the company-wide bonus program that we did not have last year. Marketing was down 39% year-over-year, and as a percentage of revenue, it's going from 20% to 9%. EBITDA, as Sten said, was NOK 8 million, compared to NOK -16 million in Q3 2022, and that's an improvement of NOK 24 million. Amortization of the Xplora Mobile acquisition is still the major part of the line for depreciation and amortization of NOK 14 million in Q3 2023. I'm not going to go through all the numbers here on the balance sheet, but I will focus that we have increased the inventory with NOK 7 million in the quarter because we anticipate a higher demand in Q4. It's quite important for everyone to see how we manage cash and utilize the LC arrangement that Xplora implemented in Q4 2022. This is shown by the chart below there, where we have in red, we have the cash, and in yellow, we have the net financed inventory. And in Q3, in the previous year, we had inventory and prepaid goods that was on a very high level, and Xplora did not have a letter of credit arrangement at that time. During Q4 and Q3, our cash reserve reached their absolutely lowest points. However, by implementing our LC arrangement, we have successfully then freed up cash previously locked into inventory, and this result in a much more flexible cash position. If you look at the development in the cash flow for the quarter, we started the quarter with NOK 99 million in the bank. We increased working capital with NOK 3 million. CapEx, we spent NOK 7 million in CapEx. Year to date, it's NOK 18 million. And the change in debt is mostly due to LC financing of paid goods not received. So we actually increased our cash reserves, cash position in Q3 from NOK 99 million to NOK 117 million. Kjetil? So good morning, everyone. I'll take us through four different operational success factors that we set for this year. You will recall that we last year set up five new MVNOs, and this year the focus has been on launching those operations and monetize on them. The second area is we did the piloting of the premium activity platform last year, and this year I will show you the figures on how we have monetized and taken up the customer acquisition on that part as well. We also said that we would explore the telco revenue share model and also manage an OpEx reduction in% of revenue. I think each of those are quite ambitious targets initially, and I'll take you through now, one by one, how we have succeeded doing that. We expanded from 4 markets, meaning from the Nordics, to 9 markets last year. We partnered up with the leading telcos in order to give the very best customer experience for our subscriber, meaning network quality and speed. In 2023 we have then launched this in the various markets, and we have been scaling up the sales. We ended Q3 with 189,000 mobile subscriptions with a net growth year-over-year of 42,000. 21,000 subscriptions came from outside of the Nordics, and we increased the recurring revenue from the services to NOK 56 million, another 30% growth year-over-year. We continue to maintain the exceptional high margin from our telco services at 82%. The premium service, I'm very proud of that, from our company side. I think this is an area where telcos have been talking about monetizing on value-added services for many, many years, but it had still to be proven that it could succeed. We have now launched the activity platform, starting really monetizing on the sales, and also with the effect that the ARPU increases in the range of 25 NOK, as a result of this. We sell the service, either bundled together with the mobile subscription plan, but also stand alone, through the Xplora app, meaning that we can address all customers who have bought a smartwatch also through, for instance, a telco. We have a 20%-30% conversion rate on the mobile subscriptions, meaning that customers they opt in for the premium version of the mobile subscription plan that we have. We now have the service available in all markets, including the U.S., but in the U.S. so far, only through our app. We also deliver increasing ARPU over time. This is for exactly the same period since we went when we listed the company back in Q3 2020, and we have increased it from NOK 80-NOK 94 per month, and this is the four-quarter rolling ARPU that you see here. We have used different pricing techniques to achieve this, what I call smart price plans, where we have the choice on the activation page for the customer to opt in for the premium, which proves a 20%-30% conversion rate. We also have done country-specific price adjustments. In comparison to, let's say, regular telcos, which very often show a flat or a declining ARPU, we have been able to grow our ARPU steadily over, over this period. The telco revenue share model, I think, is very unique. I recall back in the days when Apple launched the iPhone, they visited more or less all telcos around the globe and asked for a revenue share. Of course, all of them said no. We have managed to do that. We have now three telco revenue shares. The latest one we announced is Troomi in the U.S. If you go to Troomi's webpage, you will see that our products are now live there as well. So previously, when we sold products to telcos, we had roughly NOK 300 as a one-time smartwatch margin, only on the smartwatches and nothing more. Today, over the lifetime of the customer relationship, we earn NOK 1,500, five times as much, and we build a recurring revenue base also from this new revenue stream. We were, of course, a bit indifferent when we did this because we were afraid it would hurt our own sales. But luckily, it proves to be the other way around. There was a massive campaign from One Call during back-to-school period, which also lifted our brand preference and brand presence in the market, and also contributed to an increase of our own sales in the same period. When it comes to the cost efficiency program, cutting cost at in absolute terms and as a percentage of revenue is tough in a with a company that grows opens new markets, but we have managed to do so. We have proven in the quarter, compared to last year, absolute cost reduction from other OpEx or OpEx, excluding personnel cost, because of this one-time offsets of NOK 8 million, and in relation to the revenue, a 14 percentage point reduction. We have conducted several individual programs where we have looked into all our other OpEx, and there are roughly 25 different cost items, where we have taken action and reduced the cost from 150,000 NOK to 3 million NOK per item. We have also been able to improve our marketing efficiency with a 9 million NOK absolute cost reduction compared to same quarter last year. When I then sum up, I think each of these activities are quite large individually, but we have delivered on them. We have set up five new telco operations contributing to a very strong Q3 net growth. We have a record high number of mobile subscriptions with 189,000, and we have proven that we can also successfully launch and sell the value-added services with 32,000. And we have got the first 5,000 subscription on the telco revenue share model, and also on top of that, done an OpEx optimization from 37% to 14% of the revenue. That concludes my part. Jason? Thank you. Good morning. So let me start by just reminding everybody, if you're not aware, or just sharing the key strategy for this year. We were introducing three new products this year. We're gonna capitalize on the MVNO market that we, Kjetil kindly shared in the previous slides, and we were going to concentrate on the basic and premium SIM models we have. So where did that leave us this year or this quarter, should I say again? Q3 generated NOK 134 million, comparison to year 2022, NOK 95 million. That's an increase of 41%. Using our new products, as you can see on screen, the average selling price has increased as well, and 89% of the new generation of our watches for this year has actually contributed to that revenue. Also, just for your information, we are now on 322 this year to date on watch sales itself, which is an increase of 23% year-on-year. For connectivity, this has been a very interesting and exciting part this year and something I'm really, really happy to share some figures with you today. We started the year of a target of 175,000 for the year. We reported in Q2 that we'd reached and surpassed that to 189,000. So we challenged ourselves as a business to increase our target to 220 for the year. At the end of Q3, we've actually reached 226, so we've beat that target as well. Of that, 32,000 are now premium subscribers, so they are paying the higher level of service for us, giving us a good margin on our products, which does then mean our annual returning revenue is now at NOK 222 million, and 82% of that is gross margin, which is a very important piece of information. Compared to 2022, that was NOK 172 million. Winning customers is tough. In my opinion, keeping them is a lot bloody harder, to be honest, if I can put it that way. But here are some figures on screen for you. We now have 1.2 million watches sold, in excess of that, in fact. 1.8 million of those are actually app accounts that we have with our customers. 575,000 kids are actually using the watch monthly. Nearly 9 million people in September sent a message through our chat services. 68 billion steps were created, and of those 68 billion steps, our premium kids are actually walking more steps, on average, 6,000 more per month. Thank you very much. All right. Thank you, everyone from the team. Now, let's try to look ahead, what to expect. That's always also difficult part. Before moving into that, actually, the status quo when we ended Q3, moving into Q4, I would like to just summarize these three topics, which I think is very important. We entered into Q4 with NOK 117 million cash in the bank, but also we have to take into account, we have a net inventory value on top of that, of NOK 69 million. So if you take all our current inventory, as the team explained, and you add everything we have paid, but inventory is still not received, minus the debt, the financing part of it, that's a net additional value of NOK 69 million as well. So quite a strong position in that regard. As Jason just told you, we are now starting with a 222 annualized recurring revenue service base, meaning that every month, we step into our office and switch on the light. When, at the start of each month, NOK 18.5 million, with 82% margin, lands on our account for that month, growing. It means, in fact, to Jason's point, that we have increased in only one year, NOK 50 million in ARR, in one year. NOK 50 million increase on that base, which I think is quite strong. We have managed an EBITDA turnaround, NOK 35 million to NOK 22 reported now, and in a declining market, we have seen a significant growth. That's the status quo when we now enter into Q4. I have to say also, I'm pretty proud of this slide, hence I would like to share it with you, because it paints a picture of what's going on in the market. What we are doing is one thing, but actually, what is happening in general, it's always good to know. Also, I have to say, this is a snapshot of one market, although it's the biggest market in Europe. It's from Germany, and it's Q3, and it's one month, but I think it's worth mentioning as well. The source for this is from GfK, so one of the leading provider of insight and data, because it's based on actual transitions and sales from distributors to retailers. I almost find it mind-blowing that in September... Remember this, this is not the kids' watch category. This is the whole wearable category, with everyone included: Apple and Samsung and Fitbit and all the usual suspects. Everyone. The brand that sold the second most product of everyone was Xplora. The number two most selling brand in the whole wearable category in September, in Germany, was Xplora. You can see on the list, on the column over there, just beaten by Apple, and Apple has a lot of different model that accumulates to a lot of sales. Moving from 5 in March, which we thought was, "This will never happen again," now we're number two. When we started the company, would never even imagine this. Until we flip to page 2, where we actually saw, so what is the most selling product in the whole wearable category in September in Germany? As Jason said, we just launched our X6 Play. The most selling product of everyone in the whole wearable category was X6 Play. We hate to brag, but if this was a podium, not only would we be number 1, but we would also have the third place with our new XGO3. The best-selling product in the whole category and the third-selling product in the whole category by Apple, Samsung, and Fitbit and everyone., we were quite proud. In general, throughout September, year-on-year, the end consumer wearable tech market has declined 26% because end consumer has less money to spend due to interest, gasoline, everything we feel every day, every single day, so it has declined, and we have just showcased the 48% growth... We had a bold statement because we got it from all the investors when this year started. Will you also decline? We barely dare to say, we think that the kids' smartwatch category can be a little bit more resilient, because you still would like to protect and give products to your kids, and it seems that's still the case, and we hope that will continue as well. Just wanted to share this. It's official data, but it paints a picture of the category, and the opportunity, and the job we have done as well, in context to the rest of the category. Last page, the outlook, we continue to have the objective to beat the market. We have presented the results. As we said, we have already reached 226 subscriptions from the target 175. Kjetil went through all the details of cost reduction, and as the market has told us from January this year, it all boils down to the company that managed the cost. That's what we have managed, and we will continue to focus on the profitability going into Q4 as well. And with purpose, we also disclose that we are exploring significant opportunities in the time to come within two new verticals, senior market as well as software as a service. So with that, I will ask Kjetil and Knut to join on stage, and we can move into the Q&A session. We'll do as we normally do. We'll start with some of the questions shown on the screen that we have received from the online audience, and then we'll move into the questions from the audience. Excellent. All right. So first, like I said, either question coming in or we have them online.. Number one is about U.S. Everyone is expect or would like to know about that. I think you addressed it a little bit, but question number one: how many units were activated in U.S. this quarter, Kjetil? That was 6,000 units. So a strong quarter. I think the market in with perhaps the strongest growth in percentage. We also, as I said, we started the revenue share model with Troomi, so a lot of activities going on there. Follow-up also on U.S. What about revenue, and when do we expect to break even in U.S.? We had roughly NOK 6 million revenue in the quarter. Prediction is to go break even during Q1 next year. Mm-hmm. And,, what was the revenue from premium services? W e just had numbers. So, Knut, what was the revenue from premium services estimated? The premium revenue number for Q3 was NOK 3 million. Still a good starting point. All right. Okay, this one is also good. How long does the company have a euro and U.S. hedge? Knut. That's quite important also for us to make sure that we have a good balance between our cost of the watches in the U.S. and sales U.S. dollar and the selling that we do in euro. So we are hedging the currency until end of this year, as of now. Mm-hmm. We continue to evaluate how we move this forward. One here, nice results. Guess 2024 will be awesome. Yes. Thanks. That's a good one. What is the current user demographic and how many users are over eight? That's also a good one. Actually, if you take the complete average, that age still is roughly 7.2, and 51%-52% is girls. Our core market or demographic is still somewhere around 7-9, where we have the core volume, but we also do see volumes outside both of them. You see, our target group is 4-11. The majority is 7-9. All right. How many units do you expect to sell in Q4?, we cannot disclose that. We'll do that when we present the Q4 number. But I think one very important takeaway is that what we have tried to work really hard on, or take one step back, when we listed and the first couple of years, there were very little sales in Q1, a little bit more in Q2, and basically everything was in Q4. It was very difficult for us to calculate and even more difficult for the market to make any assessment because everything came basically in Q4. So we have worked very hard to try to balance that a little more. And what we see now with the increase of retailer distributors and also more insight and visibility in the number, we try to get as much as possible sale in Q2 for summer, in Q3 for Christmas. So most likely, we expect Q4 to be a much more similar to Q3 for that purpose. The rest we'll report when it comes. You have sold 100,000 watches this quarter and 200,000 subscriptions. Can you open up a little bit more? Let me rephrase, and, Kjetil, maybe you can tell a little bit, that we basically have had all revenue from the Nordic in subscription so far, and basically launch in Q2 for the rest of the world, but elaborate that. . No, to be precise, we have, as you saw, 189,000 mobile subscriptions and 226,000 subscriptions in total. So we have to, let's say, differentiate between sales of watches with or without subscriptions and the subscriber base, so it's not comparable. All right. I think that was the key questions online. We have a microphone. Questions from the audience. Sten? Thank you. Øystein Lodgaard, ABG. First to start on the gross margin. The gross margin for devices was lower than at least I had anticipated for this quarter at 30%. Can you explain why the reasons for that? Is that FX, mix effects, and how should we think about that going into Q4 and 2024? It's not a huge difference between this quarter and previous quarters, so it's, I think if you should calculate anything, you should use the same levels as we have now on the gross margins. And also, I would add, priority on increasing the ASP in terms of absolute number versus only percentages as well. With that answer, should we assume that there is a mix effect here, more selling more expensive watches means also lower margin on those watches? Terms of percentage versus actual NOK, which is what pays our bills. Thank you. And also, you, you stated on one of the previous questions that you will try to even sales out more throughout the years, so Q4 should be more similar to Q3. Two follow-up questions on that. First, are you then talking about device sales? Because I guess recurring revenue will continue to grow, of course. And also, this quarter, you managed to grow 2% on in terms of units on very tough comparables from Q3 last year. Q4, you're facing easier comparables. Should we still, despite that, expect Q4 unit sales to be more in line with Q3? So if you split between units and services, and you can answer the services afterward, yes, when I compare to more stable, similar to Q3 this year, but an overall growth. That's correct. To your point, the service will continue to grow, but you can- I can elaborate a little bit on that. As I say, Q3 have has very strong months. It's a very stable, high stable selling period. Q4, we have October, November. The sales in November result in It's very often Christmas gifts, so we get the activations on the subscriptions in December. That means that we will get one month revenue from the increase, the net increase. So it's, it's not fully comparable to to Q three, but we will continue to grow in terms of subscriptions, and we expect to see a slight increase on the revenue side as well. Last questions. On the slide you showed with the sales in Germany, very impressive, by the way. Congratulations with that. How... We didn't see the comparable numbers for July and August. They seemed very strong. How do they compare to those months last year? I think we have established to answer perhaps a little more general in that one. We have opened up a much wider distribution in Germany now. We have added on both Telefónica and Vodafone, so we have all the three major telcos. I visited Media Markt in Germany last week, and we see also that we are getting a much better footprint in there. So we will not broaden, I think, the distribution even further, but we expect to continue the growth in the existing sales channels. And we have a much more stable sales in Germany now than we previously had, where we were very dependent upon Deutsche Telekom, and we have a much wider distribution channel range. Thank you. All right. Any other questions? In the presentation, we have had earlier. You have said that you will consider to release monthly sales figures and also monthly subscription figures every month. How do you stand there? Do you wanna do that, or? Yes. W e are still considering to we just need to find a format that makes most sense for the market. We are more confident on now, and that's also one of the point it has been important for us to have more stability on the quarters, because we have had a quite big change on the different volumes. But more likely so to share on the development on the services versus the sales in units, because that can still be a lot more variation between both months particular and even quarters. But we are still assessing to release a good format on the services on a more frequent level. Yes. But why is it a problem if it's volatility? No, it's not technically a problem, but we have now introduced new services. We have also just launched all our value-added services, plus the 5 new markets in Q2, and really, we have only seen an effect of 1 quarter. So that's why we just have made an assessment that we'll have a proper format and have some stability on the number, and then to explore what is the format and the frequency to present it. And also the fact that we just now have increased the third service revenue stream from the revenue sharing model with the telcos. But we are working on it, and we will most likely also have a format to share. When will that happen? I don't know, as of right now. I recognize that you had a significant increase in the sales in the U.S. Could you elaborate a little bit more on what sort of platforms that has come, and geographical areas, and so on? Do you expect that to sort of continue with the same growth? We see that roughly 50% of the sales is on Amazon, and 50% is in the retail channels. Amazon is, of course, a very strong platform in the U.S. We also recognize that we have 6,000 new subscriptions in Q3. So it's definitely going in the right direction. We are still waiting for to launch our MVNO operation in the U.S. Just to inform about that as well, since there is no specific question on it so far, that we have now achieved the so-called PTCRB certificate for the U.S., which is the formal approval that we are compliant with the product. We are now in the second phase of the so-called homologation process with AT&T, the network that we have signed up the MVNO agreement with. As soon as we have that concluded, we will proceed to launch our MVNO setup or operation in the U.S. We have had a contract in place for a while, and we have just held back on the finalization and launch of it. I think when we have that in place, we will be in a position to have an even better margin in the U.S., and we can accelerate the sales effort in that market. All right. I think that was it for questions. The management and Xplora team will be here for a little bit more time, so feel free to join us and also shoot some questions when we go offline. Otherwise, I would just huge thanks to everyone being here, as well as everyone joining online. Thanks!