Good morning, everyone. It's 8:00. We are live. Welcome to Xplora Q1 2025 Presentation. It's really nice to see we have a full house. We are really excited to present the results this time in an even slightly extended format because we have a lot to showcase today. The usual suspects always presenting the report to Q1. We'll start with myself, our CFO, Knut, and Kjetil. We also have two additional stars today, our CTO, Sanghyo, as well as Julian from Doro. As mentioned, the format today is slightly different. We'll start with part one, which will be the traditional Q1 report with the financial highlights, the detailed information, and operational updates. After that, Kjetil will take you in through part two, which is our post-quarter event. In post-quarter, we would like to give you a really good summary on timelines and where we are related to the execution and rollout of both our youth product as well as the senior rollout. That is why Sanjo will join presenting the youth rollout, and we have the pleasure to have Julian from Doro presenting the latest and the greatest from Doro. In addition to that, they will also be here after the event, so we actually can have some live demos as well. I know some of you look forward to that. I will end the presentation today as well to give you some of the latest updates related to the road to 1 million, how it all comes together, and we will end with the outlook and Q&A. That is the flow today. We hope we'll be able to take you through that in roughly 40 minutes, and we'll be here, of course, after the presentation as well. Before I give you the highlight of the Q1 number, a lot has happened, and Q1 is a very special quarter as well. For the first time, we report consolidated numbers. Going forward, our key number will be on a group level. We just would like to give you a little bit of those drivers in this first quarter. For the first time today, we present consolidated numbers, including Doro. Also, a huge appreciation to our finance team that has been able for this quarter, as they promised, to also take from Norwegian GAAP to IFRS in the reporting. The comparable number from Q1 last year to this year is both a comparable number for IFRS. Since we have also then closed the financial part of the transaction in this quarter, we also just would like to give you a couple of those one-off costs immediately so you have them back on your mind when you go through the presentation. Roughly NOK 11 million is one-off from our OpEx level, so have an effect on EBITDA, and roughly NOK 32 million is one-off effect of expenses related to effect on the EBIT. Keep those numbers in mind, and Knut will really in detail guide you through what is behind those numbers. Also, Q1, since we are launching a lot of new products both within kids, youth, and of course also senior, we have also used Q1 a little bit to adjust channel and stock as well this quarter. We'll also come back with some details in that regard. The numbers you have all been waiting for on the screen here. Again, as always, Knut will guide you through the numbers and what lies behind. First time we report with group, so on a financial group level, group revenue, NOK 339 million, up 188%. Of course, the percentage will be quite high due to first time reporting. Our recurring service revenue, as you can see, this is only, of course, kids because still so far we have not started to implement SIM cards in either youth or in senior, which we will come back to in the timeline. Still only from our kids' watches, also up almost 30% to NOK 80 million recurring services with subscription base of 358,000, 41% up from last year, and with the same or potentially even stronger starting point this year as previous year. Again, Kjetil will take you through all those breakdowns in detail. Gross profit, almost NOK 200 million, up 182%, and we have a reported EBITDA of NOK 18 million, as mentioned, Adjusted for the one-off related to the acquisition, Adjusted it would have been short of NOK 30 million. I would say a very healthy and strong cash balance of NOK 541 million, up 358% from last year. I know Knut is all happy about that, as you all. I would also just like to take a slight moment to also emphasize that with those Q1 performance numbers, it also really puts us in a solid foundation for going forward. Because if we look into the last 12-month revenue, so the combined revenue including Doro, 12 months behind, the company currently now are trending at a revenue of roughly NOK 1.7 billion, so last 12-month revenue accumulated. We are from now a significantly larger company, which we also really can see in the inbound interest, the meetings we have, and engagement from the market in general, a significantly larger company. Also, last 12 months of EBITDA trending roughly around NOK 200 million. If we take all our annualized service revenue 12 months forward, we are now at ARR at roughly NOK 380 million. Again, remember that is still only from the revenue driven from the kids' smartwatches. We have not yet started to implement our big opportunity in both youth and senior, which Kjetil will guide you through in a second. Since there is a lot of new information, a lot of new numbers, I just also wanted to highlight some key takeaways I would like you to pay extra attention to when my colleagues will guide you through them. The first we emphasize as a very important strength for this quarter, we see that within our core kids category, we have seen a very strong sellout and a very strong activation in the market. Also, if you recall, a lot of you investors we have been talking to many, many times, we have always said we have roughly accumulated 20% SIM activation in the global market within our kids' smartwatches. This quarter is the highest number ever. I will not disclose it yet, but I will give Kjetil the pleasure to actually present the trends on the SIM activation. Very strong this quarter. Pay attention to that. Like we said, because of the combination of our strong service revenue generated in Q1, I am very pleased to present as well, Julian and Doro team has done a tremendous work in order to really drive a strong revenue and a strong profit. Combined with our high service revenues and the Doro performance, it is also a very solid overall performance in Q1. Like mentioned, a huge job has been done related to finalize the transaction from a financial perspective and IFRS. As both Kjetil and Sanjo will highlight to you, a lot of work has been done in order to complete the technical integration on our platform. There is also a couple of things that is very much so on our radar going into Q2, very important for us to execute. Although we have completed the technical integration with all the platform, we are still now in the final stage with the commercial planning for the rollout on both kids and youth. Again, Kjetil will explain and pay attention to that. Even though we have had a very strong activation and sellout in the market from our kids' smartwatches, we have had slightly lower sell into the channel. Kjetil will take you through that in Q1. It is very important for us that we should recoup that in Q2. I am happy to report that current or so far in the quarter we have, but that is also something that Kjetil will take you through. It is very important for us to make sure that is happening. Of course, being two companies, Doro and Xplora, it's very important for us now to make sure that we have a very efficient integration, how we work, both from a cultural and process point of view as well. A couple of things that we are paying attention to into Q2. Before I hand over to Knut, I just wanted to summarize some of the reporting formats going forward. We get a lot of questions on that. Just before that, so it's crystal clear, I'll take that at the end as well. We have a very clear target. Every single morning when we wake up, go to work, it's one key target that we have in mind. Four to five years, as we said last year, we will have 1 million subscriptions. Everything we do is related to make sure that we can do that quicker, easier, or with less risk. Every single thing that we do, 1 million subscriptions. The strategy we executed is then to go from one category, kids, and extend into youth and senior, one with the strategic collaboration, one with acquisition, with a product strategy now having a range of hardware products, still target to 30% margin, but we have significantly more product in the portfolio, and still then with the majority of our focus on the SIM activation with two different price points. We'll continue in that regard to report a monthly subscription number. Currently so far, only with kids' watches. As soon as we get meaningful data from youth and senior, we'll also specify and add that to the monthly subscription once we have a meaningful number. Until then, we'll continue to report as one subscription number per month. On the quarterly basis, such as today, we'll focus on the overall P&L. We will really try to guide you through the subscription development and also the kids' activation. We'll focus more so on the quarterly reports going forward, on the activation of watches and product in the market, because that gives the market even more insight on actually the sellout, the performance, how much product are we selling in the market versus just showcasing how much we are selling into the channel. We will do a change in that to give you more overview and oversight in that regard. We will also, on the quarterly report, give you a very good and transparent update on our roadmap. Where are we accordingly to our plans to meet our target? Half year and end of year, we'll give you more of detailed breakdown in sell-in and sell-out, as well as detailed information about the different channels and markets. That will be the reporting formats going forward. With that, Knut will guide you through the financial details. Thank you very much, Sten. Good morning, everybody. Sten has gone through some of the key numbers, but before I start my part to go through all the financials here, I would like to mention a few things. For Xplora, we have then done a transition to IFRS. For those who are aware of IFRS and the conversion, it can be a lot of items that change from these two different standards. We have gone through all relevant standards, and the impact on the EBITDA last year is about EUR 1 million on the EBITDA. Also, the impact on Q1 numbers last year is about NOK 2 million. The overall impact on our big numbers is limited when we convert from Norwegian GAAP to IFRS. Still, we have gone through all the relevant numbers. Xplora is also reported as a kids and youth segment in the report. We have significant one-offs in Q1 2025. Sten has mentioned some of them. I'll go a little bit more into the details on them. We have also done the consolidation of DORO from January 1. Even though it was acquired January 15, we have consolidated this according to the standard from January 1. The Doro figures are reported as the senior segment. Doro is publishing a separate Q1 report since they are still listed in Sweden. There are also some differences between what Doro reports and what we include in our consolidation, and that's related to their cost for this transaction. When we go into the Q1, then it's reflected, it's the full consolidated result, also then with minority interests. How is the big numbers in Q1? As Sten said, our revenue is NOK 339 million. That's almost three times the numbers we presented in Q1 2024. Also, the gross profit ended on NOK 191 million. That's also three times higher than what we reported a year ago. We are a very, very different company now compared to a year ago. Our Gross margin continues to be very strong, even with Doro included. We keep the Gross margin quite high also in the consolidated numbers. The EBITDA goes up from NOK 4 million in Q1 2024 to NOK 18 million in 2025. If you adjust for the NOK 11 million, that is really linked to our advisors in the acquisition and the transaction that must be adjusted for. We actually do not like the concept of adjusted, but in this quarter, we need to present it. Our EBITDA adjusted is NOK 29 million compared to NOK 4 million. Another part of your interest is that if you just take the two first columns here, it is what we report. If you take the third column, we just merge the two companies last year. Q1 2024, Doro IFRS, Xplora IFRS. We can also see here that there is a very strong increase in revenue, in gross profit, and also increase in EBITDA and EBITDA adjusted. All of these metrics are increased combined proforma Q1 2024 compared to Q1 reported. Going through a little bit more on the group, and as I said, the group revenue is increasing with three times, and the majority of this revenue increase is, of course, coming from Doro. We have also an increase in Gross profit, and as you can see, the Gross margin is also showing a very good trend. The EBITDA, I do not need to say that one more time, maybe. When we are coming into the kids and the youth segment, that is Xplora, we also see that we have an increase in revenue in Q1 2025 compared to a year ago. There is one thing that is very important to mention. In Q1, Xplora did a lot of work in order to prepare for Doro implementation of connectivity. This work has been charged to Doro on an arm-length basis in order for them to implement the connectivity. That invoice of NOK 8 million is then included in our revenue numbers in Q1. It is absolutely a necessity for Doro to start implementing the connectivity. All the work has been delivered and done from Xplora's side in Q1. You can also see that the Gross profit has increased year over year with a continued increase in Gross margin over the quarters. Maybe the most interesting piece of the information in the segment is the service revenue. We have an annual recurring revenue of NOK 318 million as of now. That is service revenue in Q1 2025 multiplied by 4. This is an increase of NOK 68 million year over year. As you can see, the gross margin on these services is very steady on 80-83% every quarter. We have the senior segment. As I said, Doro is reporting their own report. We have included some space here in the middle that we can start reporting on service revenue when that happens. Revenue for Doro, this is then converted into NOK, is going up also in Q1, NOK 197 million to NOK 229 million. Also, the Gross profit has a substantial increase in Q1 from NOK 83 million to NOK 122 million. The light greens are what's reported by Doro previously, and the dark green is what we have included. The total profit and loss. In IFRS, we do not amortize goodwill, but we have done that before. Now it's four years since Xplora acquired Xplora Mobile. As you remember, we have amortized the customer contracts every single quarter. The last quarter we are amortizing the customer contracts is in Q1. The 24 million that is included in Q1 2025, we have about 5 million. That's the last amortization of the customer contract. That amount will then decrease with the 5 million in the coming quarters. When it comes to the 32 million in financial expenses, that is one-offs, and that's basically arrangement fees and funding fees for the loan. If we had continued with the loan and not replaced it with a new loan, we would have been able to take the majority of that number and just spread it over the lifetime of the loan. Since we converted the first loan into the new loan, we have to then expense it in the P&L in Q1. There is also 12 million in interest for the acquisition loan in the quarter, 7 million, that is net financial items expenses, that is then the normal financial expenses. We have a EUR 25 million currency impact of the loan. What we did, if you do remember that, is that we acquired Doro on January 15. That was a fully funded loan for that transaction without any equity. During Q1, we decided to refinance that loan with a long-term loan of four years. We all know that there was some specific international turbulence during Q1, and we decided to go with a certain road to do the bank loan. We have that bank loan in Euribor interest with a small margin on top of that. We have also hedged about up to 75% of the interest, so it's a fixed interest fee loan. It is, as I said, four years duration, and it secures long-term financing and strengthens the liquidity at quite okay terms. Of course, the original acquisition loan was settled after the Q1 financing. Balance sheet, I'm just going to touch a few things here. We are now three times more assets than we had also at year-end. We have NOK 1.9 billion in total assets compared to NOK 600 million in Q4. One important thing that I mention every quarter is that we have been able then to work on our working capital items all the time. A year ago, Xplora had about NOK 100 million in inventory. We gradually have optimized that, going down to NOK 80 million. In Q1 2025, we are now on a NOK 77 million level on the inventory. We are doing a very good job to optimize also the working capital. The bank loan is then reflected in the P&L of NOK 936 million. As you also can see, we have the LC, the working capital financing, is also paid down quite a lot in Q1. Maybe the most interesting number for me is basically that we have increased our cash, total cash position, going from NOK 235 million at year-end, and we have now NOK 545 million in the bank. So we have a solid, flexible, and strong cash position in Xplora. Thank you. Good morning. I'll take you through the operational part. Going forward, we will start, we have started now to report on activated watches instead of sold watches. Activated watches means the first time the end consumer has bought and actually activated the watch for the first time. That gives a more true reflection of the actual demand for our products because we have a combination of direct and indirect channels. The majority of Xplora sales goes through distributors, retailers, and telcos on top of our direct-to-consumer channels, which is the web and the Amazon channel. You see on the red bars that we have a stable and slight growth of activated watches in the first quarter. As I said, they come from three different channels. Sten announced one page that you should really pay attention to, and that is the share of smartwatches that are being sold with an Xplora recurring service. Some few years ago, before the acquisition of Xplora Mobile Companies, there were only hardware sales. Today, we have been able to grow the share of activated watches sold with a service subscription to 37% on a 12-month rolling basis. That means that 37% of the 500,000 watches we have been selling through the latest 12 months have been activated with a service. That is the mobile connectivity part. It is the B2B part, which is the telco revenue we get from the services and the service fee. That is also important to have in mind. We know that the number of watches is the foundation for the service revenue, but when we are able then to also increase the share of watches being sold with the recurring service revenue, that is what really drives the growth on top of what is related to the watches. I am also happy to announce that we have a breakthrough in Spain these days. We have started a cooperation with the largest retailer in Spain that now, on a fixed basis, mandatory, will sell all the watches with our mobile subscription plan. A breakthrough in the Spanish market. We are gradually, market by market, working with telcos to also get revenue from the telco part and on the retail side, introducing services in more and more channels. That is what leads to this growth. The number of services, the subscriber base, continues to grow very, very strongly. You see 358,000 services by the end of the quarter, which is a 41% growth year- over- year. It comes from four different sources. The mobile subscriptions is the one with the highest RPU, revenue per month per user. We have 255,000 mobile subscriptions. We have those in nine markets. We grew then with 53,000 year over year, which is 26% on that service. The premium activity platform is a true success for Xplora. That is a valuated service that is on top of the mobile subscription plan that generates additional RPU, but it is also sold as a standalone service. The B2B subscriptions come from the cooperation with the telcos, where we have now surpassed 20,000 subscriptions. We have the service fee, which is a vehicle to drive the further expansion of the conversion rate on the mobile subscriptions. Overall, net growth of 103,000 year- over- year. The mobile subscriptions, I would say Germany is a turnaround compared to one and a half years ago. Germany has always been the largest market for smartwatches. We also now really see that we get service revenue from mobile subscriptions in Germany. Of the net growth of 52,000 mobile subscriptions year- over- year, 50% came from Germany. We also, as you see, continue to work in and grow in the Nordics. I pointed out Spain, which delivers strong numbers. The service revenue, which is the effect of the growth on the numbers of services, of course, had a revenue growth of 29% year- over -year to NOK 80 million in Q1. We have always been very focused on that part in the Nordic markets. We have said that one main objective is to grow also outside of the Nordics. Here you see the effect. One year ago, in Q1, it was 12% coming from outside of the Nordic markets. In Q1 this year, it is 20%. Very, very solid shift of where the revenue comes from. Reflecting on the high growth in Germany, we have EUR 8.5 million service revenue coming in in Q1 this year from Germany. That is a 265% growth year -over- year. Germany is now our third biggest service revenue market after Norway and Sweden. The annual recurring revenue is NOK 318 million with 83% Gross margin. Very healthy business. The RPU, this graph tends to look relatively flat, but the numbers are important to pay attention to. RPU is the average revenue per user per month. It comes from the connectivity part, the mobile subscription and the premium over the number of mobile subscriptions. We have had a growth in the Nordic markets of NOK 4 year- over- year. That is equivalent to NOK 9 million extra on the EBITDA, expands the margin. In the other markets, Germany, U.S., U.K., Spain, and France, we have an uplift of NOK 11 year over year. That is equal to NOK 10 million. This shows how important it is to work also not only on the number of sales that we do on the services, but also on the price. We also do an annual price increase on the existing subscriber base. We did that 1st of July last year, and we see that also contributes to that part. It is also an increased share of sales on higher priced price plans. We see that the premium price plan has now an increase in share of the total mobile subscription plan numbers. Over to the new and exciting part is the new products and services. This is the outcome of very, very hard work over many months. We tend to simplify and say that we will insert a SIM card, and that's it. There is a lot more behind it. We have now been working on preparing both the sales of Doro with Doro mobile subscriptions, but also the youth phone needs a subscription. We have been setting up a total new infrastructure for those two products with these services. It is a lot of work. There's a whole commercial background, which is about negotiating new tariffs, extending mobile agreements with the telcos that are behind and delivering the service. It's a huge technical backend implementation. Of course, the customer offering has to sit spot on. We go live with the first markets in Q2, respectively for Doro and for the youth phone. We will deliver over the next quarters in the remaining markets. We repeat this seven times for the Doro subscription and eight times for the youth phone. A lot of work. That was Q1. I will enter into going forward. When it comes to launching Doro phones with a Doro mobile subscription plan, we have been comparing to what the telcos are doing traditionally. I've been in the telco business for 25 years plus. It is very much a game about pricing and maximizing the price plans. It is also about lately also a bit more in the direction of security. We know that Doro's foundation comes a lot from security trust position. When we develop the Doro's value proposition, we will pay attention to the safety and security aspects with services that will be delivered and added on as they are being developed. A fair pricing policy and, very important for this segment, the customer service, which is operated in multiple channels, including the phones. Doro goes live in the first market in Sweden by the end of this month. Gradually throughout the year, it will also be introduced in the direct-to-consumer channels. Thereafter, we will announce when we are ready with going into the retail channels. We have a similar story for the youth phone. It's a bit different because here we get revenue from two different sources. The parental app that Sanjo will demonstrate in a minute gives us service revenue independently of if the phones are sold by Xplora or our cooperation partner, HMD. Xplora will get a service revenue from the parental app already from June in all markets where the product is being launched. Beginning of June, we will launch the product in our direct-to-consumer channels. We will start selling it also in all markets with the parental control function. We will monetize from that from day one. End of June, we will also introduce the first mobile subscription plan for youth, then in Norway, with the parental control functionality included in the mobile subscription plan. That is also then what we will continue to roll out. That's the upper line in the direct-to-consumer channels, both on the web and on Amazon. In retail, again, similar to with Doro, we will introduce this gradually in the different retail channels and the markets throughout the rest of this year. Thank you. Morning, everyone. I know if you see me on my stage, there is something new. I'm so happy to present youth. Like Xplora is growing, children is growing. Also, unfortunately, there is a growing demand from Kids Watch to smartphone. Lots of parents still want safety feature in the smartphone. That's why we come up with a youth phone. Most important thing here is not about parent control feature from the smartphone, but important element here is partnering with the HMD or smartphone manufacturer that we can integrate into the system layer. These days, children are so smart, they somehow figure out how they bypass the parent control feature. Even you can simply Google, how can I bypass Family Link from Google? You receive a lot of lists, right? That is the actual situation. That is exactly why we are working closely with HMD to have a deep integration into the system so that we can prevent such bypassing of a parent control feature. With all that, we hope that we can open up 36 million new opportunities in the market. We already have a lot of churns, children from the Kids Watch to the smartphone that hopefully we can address those customers. Then how we actually support youth. I would like to highlight how we also grow from the 1.0 stage to now. As you can see, although we call it F1.0, there are a lot of platform and service behind. The key idea here is agile approach, which means dream big, execute small by small. That is why we always adopting agile approach from 1.0, focus on Kids Watch as a starting point. In the 2.0, we started introducing not only hardware, but also combined with a service such as a SIM subscription or premium subscription. Now we are in 3.0, which is more expecting scalability and sustainability that I will explain more a little bit. Here now we are on 3.0. It is not about improving fancy user experience and UI. Again, there are important improvements in a platform and architecture to support more new verticals from the Kids Watch and the smartphones and something new device effectively. Also, the platform, we can introduce more complete different business model. Now we as platform supporting Xplora, but we can easily integrate new business come to our ecosystem to introduce their smart device, such as Patracker as an example. Or even we can license our application and platform for business partner, something like Power BI, Xplora, or similar Intel Insight concept. That still we can rolling our single development, our app and platform, but we can create a pipeline to the many different customers. We call it multi-tenant strategy in our 3.0 so that we can expect more scale effectively and sustainably grow. That is where we are at the moment at 3.0. Now singing is believing always. Let me show you a short video demo. Here you have parent app and the Fusion X1, which is Teens app. As a user, we have location features like safety zone, location history, but importantly, more precise accuration because we have more power from the smartphone. That is, as a user, we have all the location feature as you can see here. In the Teens phone, very simple user interface, but obviously we'll improve, continue adding new feature. As you see, you can see all the report about screen and app usage for the teens and also parents. Now a very interesting feature about app permission. Teens can actually explore all apps from the user stores. They click to download. As soon as it's on the device, actually it blocks the app, like as you see. It immediately notifies the parents to give a permission or not. You see the whole list of apps installed in the Teens phone. You see Subway Surf. You can either, okay, I give a permission. It automatically is shown on the screen. You can hide in real time. You can control already installed app, such as a snapshot here. In real time, you see it pops up, and you can hide it as well. More feature, like we already have a school mode, where when children go to school, they cannot use the smartphone by school mode. Also bedtime mode. During the bedtime, they cannot use the smartphone. You can control time. Also app timer, where you can actually individually manage how long children need to use the app. Here, as you see, click the Subway Surf, and you can actually control how many hours you allow to use per day. Everything is in real time between the parent and the smartphone. Okay. We have a small demo station. I know you really want to come and want to see it right now, but please wait for the stand to finalize QA. Please welcome to have a look. Now let me invite Julian to continue now, Senior Doro. Okay. Thank you. My name's Julian. I'm the CEO of Doro. Sten, Thank you very much for inviting me to be here today so that I can present the senior proposition that will now be a part of the Xplora group going forward. Obviously, Doro is a business that is 50 years old. We're category leaders in the markets that we're present in. There are seven core markets, Nordic markets, Germany, France, and U.K. The total size of the available market is around 60 million people, which we already, through the Doro brand, with its brand awareness, have a good connection with. There is a lot of trust in the brand. We target two different groups. We are talking to not just the user, the senior person, but more and more our positioning is also going towards the family member that is supporting that individual. We will come back onto that in a little bit. At the moment, we have had a lot of focus on a new range of smartphones, which we have branded Aurora, the Aurora range of phones. We will talk about that. Obviously, there is an awful lot of work going on at the moment as well to bring connectivity into our telephones. We will talk about the introduction of SIM. Talk a little bit. We talk about internally now about Doro 4.0. You have a very stable business in Doro with strong sales of feature phones, very slick back end of the business from an operational perspective. You can see that in our numbers. Our job is now to transform our business into the next phase where we're going more into two things that we've been focused on since I started in the business back in June last year. One is to really embrace the digitalization of society and help the elderly people manage that transition, which is very difficult for them. That means moving into more smart devices rather than sort of and broadening from the feature phones. On top of that, we've actually had our own strategies looking at service propositions and recurring revenue. It is very appropriate that we combine our forces going forward with Xplora, where one-on-one can become much more than just two. Our vision and our mission, really our purpose at the end of the day for DORO is enabling those with additional needs to feel safe, connected, and then included still in society through easy-to-use technology. We go the extra mile to deliver technology that is easier for people to use. The innovation that we bring into the market is really being driven by three trends. Within the social context, there is an aging population. Everyone knows this. There are more people living alone because they want to live in their own accommodation rather than going into care. As that population gets bigger, governments are struggling to cope with the cost burden of that elderly population. They will pass that on in the years to come and already now, but more and more in years to come the generation below will be more and more involved in looking after that group. That is our job, to empower them, to help them look after the elderly people. Now, to do that, we need to lean into this whole digitalization of services. There is also naturally people that, with the technology moving forward and the digitalization of society, if you want to bank now, park your car, whatever you want to do, it is basically through a phone. It is more and more difficult to do those things if you do not have a smartphone. There are naturally fewer people choosing feature phones than there were before, again driving our need to pivot our business into more digital devices. Then there is a human need. At the end of the day, these are core needs that you look at, Maslow's hierarchy of needs, core theories. There's a human need for contact and for support. Generational housing, just 100 to 120 years ago, when we all lived through many generations in the same place, we now do not have that ability to have that daily connection, to look after each other, to share experiences. Now, the digital devices help us do that over broad miles, kilometers, different countries, but not if you're struggling with that technology. Again, our job is to help that bridge. That is the dilemma. That is the problem in the marketplace. The digital devices that are being developed simplify life. You can now do banking from your bed, but not if you cannot use the device. Now you go up to a glass wall in the high street and it says closed and moved online. This is the frustration for many people. It creates barriers for some, and that's our job. That's our purpose. That's our reason for being is to take those barriers away and enable those people that have lived 80 years on this planet or longer or even a little bit shorter and still give them the ability to partake in society and feel a valuable human being. That's our job is to develop meaningful help tech that gives these users peace of mind through easy-to-use devices. We model ourselves. Our model going forward is looking at three areas that we bring together with Doro in the middle. Our tech is always easy to use. That's our challenge for the user. When we're talking about the user, we make technology that is simple to use. It is there to develop or to bring help to the individual. It aids them to be a part of society, to keep connected. Also somewhat now, but more in the future, we are also looking at health tech and how we can enable that. At the moment, some of that can even be peace of mind. You look at the button on the back of the phone, which is basically a call for help button, an assist button. That gives you peace of mind. It gives your relative peace of mind that should anything happen to you, help is just a touch of a button away. This is an area that we're also looking into and seeing how we can exploit the opportunities within health tech, although at the moment we've laid a very clear boundary saying that we're not going to go into medical device. That's up until that boundary, but not the other side. With that, as we're moving not just new products through, but we're reinvigorating and reinventing our business to be more supporting seniors through into the digital age. We've launched our first phone this week. On Tuesday, we launched our new range of smartphones, which we've, as I said, launched under the name Aurora. We have a couple of devices that, should you be interested after the presentation, you're welcome to come and have a look at. What's different? These are simple smartphones. What you can see just from this picture, three devices, the Aurora A10, A20, and A30. You can see this is a smartphone with physical buttons. It was a very long time since anybody saw anything vaguely like that. If you look at the A20, it's even a foldable phone. It is a clam phone. You do not see, again, smartphones like this. For an elderly person coming from maybe a sort of a feature phone or with less tactility, less grip, these things give reassurance that it's okay and it helps me bridge from simple devices into something that at least is more complicated than what they use today. Now, clearly, not just the sort of the format of the phone, but for us, there are a couple of other points that are super important. Obviously, as we age, all of us, probably everybody in this room, 45 upwards, sorry to say it, but we've all lost somewhat of the hearing that we had when we were 20. If you go to rock concerts when you're in the, you've probably lost even more. What we know is that when you launch a new phone, there is a profile, a sound profile that you need to have tested. That gives you certification of the phone that you're allowed to launch it. What we found out is for most people over 45, not even seniors, that's not the optimal sound profile. We have developed our own sound profiling and that is, shall we say, bringing up certain frequencies so that it's easier to get a crisp, clear phone call. We've called that Doro Clear Sound. That's a trademarked piece of or brand asset. You'll also see what's unusual. If you pick up any of your iPhones, etc., and look where the speaker is, it points down. Okay? If you are doing that and you're having a phone call, it's pointing down. As you'll see here, in this instance, we have the speaker pointing at you again. We have to go that extra mile to develop phones that are perfect or as close to perfect as they can be for our target audience. We don't just take phones off the shelf and put a Doro brand on it. We develop them specifically for this target group. Obviously, it does the basics of keeping people connected with good cameras, both front and back, very clear quality on the screen, and then obviously the ability with the sound to have a good interaction too. This all comes together now in a holistic, what we call an ecosystem, where we have a consistency in design across our products. You'll see here you've got this green ring on the back of every phone. That's our Doro Secure button, which is another piece of trademark. The button, it's programmed with an app. It's programmed to five of your relatives or you program it to five of your relatives. Should anything happen as an individual and you need help, you press that button twice. The microphone comes on and the speaker comes on. It calls those five people, whoever phones up, says, "Hey, what's up? Can I help?" Obviously, GPS in the smartphones enables you to get a location on where that person is and go and help them. This for us is a very key design feature that we've now brought everything together with this green dot. You can see this is our video doorbell, which also has a green LED illumination around there. It really links the brand story together. What's different about our video doorbell? There are lots of video doorbells. When you press that button, obviously it comes up in your smartphone as an elderly person. You see that and you say, "Look, there's this person on the other side of the door that can maybe only be a couple of meters away." You feel really uncomfortable about answering that. You can either go and hide and say, "I'm not home," and not answer because at least you've got the power to do that. You do not have to look at who it is through the doorway. But also you can actually press a button on the phone and your relative can pick up that and take that discussion through the microphone on the door and tell them to go away or even press a button and it sounds an alarm and scares them the hell out of there. That's unique for a video doorbell. Again, it's about trying to understand your target audience and developing products that go the extra mile. We don't do just the generic products that everybody needs. We have to work harder because we've got to meet additional needs. That's what I talked about a bit in. We're there to solve the additional needs. We go further. This is what we do. This week we launched, as you say, the Doro Aurora range of phones. That was, I think our project manager said, "531 days of project in the making," and we got that over the line on Tuesday. We're very, very proud of this. I think it's heads and shoulders the best smartphone device or platform that we've ever put out there. It's supported by a range of accessories which bring additional revenue to us, additional margin to our retail partners. We've also backed this. You'll see, shall we say, an advertising campaign, a little bit of tongue in cheek, bringing to life the dilemma of most of us when we get a new smartphone, we give our parents our old one. In that moment, you do two things. One, you disable them and disconnect them often from society, not everybody, but many of them. The other thing you do is you make yourself IT help desk for the rest of your life. Do not do that. You make a smarter choice, give them a Doro. That is it. Thank you. Thank you. I will do my best to wrap up in a few minutes. We are over time, but I hope it was really helpful for you to go a little bit deeper to see where we are. Just to combine all this together, as Sanghyo, Julian, Kjetil, and Knut have presented, we are now really taking this big step to building the number one platform for connected families. We have a series of products now, and Julian just showed us we are launching even more. We have a global IoT Connect platform, nine MVNO, set up around the globe. As Sanghyo presented, we are launching a new Guardian app, not only to support our branded and sold product, but potentially to tap into multiple other products, not even being sold by us, but still generate revenue. Although we have all these plans and ability to scale going forward, every single day we wake up with one clear goal to provide one million subscriptions within the next four to five years, as we said last fall. We are now extending from being able to have executed 350,000 subscriptions in one category. We are now growing with this strategy to now perform in youth and senior to drive that one million home. As Knut presented, we have become a significantly larger company, scaling from 117,000 in Q1 to 340,000 in Q1 this year and become a significantly larger scale of the company, NOK 1.7 billion trailing 12-month worth of revenue. As we have explained to some of you investors in one-to-one and in our presentation, not only do we have a fantastic starting point of our financials as of right now, but we have one single huge opportunity, as Julian just presented, with the effort we have now been doing with setting up our MVNO, preparing for seven new markets. As we have said, if we are able to have one out of every 10 phones that Julian just presented, one of every 10 to activate our Doro Connect with all the benefit that can bring to the table, one out of 10 within the next two years will add roughly EUR 300 million additional EBITDA to our roughly EUR 200 million where we stay today. Fantastic business opportunity, a fantastic team, and we have a very clear target on where we are going. Outlook stays the same as from last quarter. As we said, we will introduce the first youth product as we presented today, end of this quarter. We will continue our annual year-over-year growth from the kids category. We are introducing the first SIM cards within Doro end of this quarter. We will focus very hard on increasing our service revenue and our increase of EBITDA and EBIT end of year and secure the path, as mentioned, to one million subscription. With that, Knut, Kjetil, you can join me for the Q&A. I guess there are a couple. Let me start with some from online and then we take some live from the audience afterward. Interesting first question. Take this to you, Knut. What will you do with all the cash in your Balance sheet? It could look like a lot of cash in the Balance sheet, but it's very important for us to have a very strong foundation and the flexibility that is needed to further grow the company. We have a loan that is close to NOK 1 billion, and we have a cash position of NOK 535 million. I think that's a healthy situation. Of course, what we are doing with the cash that we have on hand is that we're making sure that that's put in the best possible interest level as well. It's good to have cash and the flexibility. All right. One more on that point. What are the total one-offs related to the acquisition? It is two pieces. We have some that actually occurred last year. We have about NOK 6 to 7 million that is linked to the legal cost, the due diligence of Doro, and so on. We have NOK 11 million that is OpEx in Q1 that we have mentioned a few times before. We have the NOK 30 million in cost linked to the loan arrangement. In total, it is about NOK 50 million. One for you, Kjetil. As we mentioned, there are changes in the sell-in versus the sell-out in Q1. The sale of kids units in Q1, sell-in versus sell-out. Any comment in that regard? Kjetil, can you address that? Yeah, that's an important question to address. I started with presenting that the sell-out demand from the end consumers is stable and slightly growing. That's important to know that the underlying demand for our products is stable and growing. We have a combination of direct and indirect channels. The indirect channels make up for the majority of the volume. That means that we sell to a distributor, the distributor sells to a retailer or a telco, and that partner sells to the end consumer. That sell-in fluctuates quite a bit. The largest customer that we have has end of the financial year on the 31st of March. That means that they minimize their inventory at the same date as we have end of the Q1 quarter. That is basically the main explanation for it. When it comes to how it looks for Q2, we are going to catch up that volume in Q2. We have a huge, let's say, reserve of products that we're going to deliver this quarter. Q2 and the Q1 and Q2 combined looks all right. Good. Let's see. Okay, easy one. When and where and how can you buy the youth phone? Yeah, a lot of channels. We have the full, let's say, distribution network from Xplora, but also HMD sells 40 million devices a year. Also sell directly to a lot of telco and retail partners throughout Europe. We launched the product on the 5th of June. It will be available when it comes to the Xplora network on our direct-to-consumer channels, which is the web and also on Amazon. You will see it in different retailers throughout Europe. All right. What is the current holding stake in Doro? How far are we from 90%, or does that at this point affect any practical reason or practical executions? As of today, we are on 89.61% of the holdings. We are still continuing to buy the shares at SEK 34 per share. That is the price that we have offered to the shareholders that we continue to buy at that price. There is no reason for us to buy shares at a higher price. There is no practical implication on this. Beside that, until Doro, that we have acquired 90%, Doro is continuing to be listed in the stock exchange in Sweden. That is the major practical impact of this situation. We have the funding for the transaction. That part is good. One more related to the sell-in units in Q1. I think we just addressed that, but please comment, how do you see the development? You can just repeat that one more time. Yeah, no, we see us in Q1 stable over the last three years. We see an increase in Q2 compared to last year. As I said, we have a breakthrough in Spain. We are also, new information, entering into Canada because of the situation in the U.S. We expect a slight growth. Will our app be included in the Doro phones? Interesting question at this point. No, but well observed. I think that was the key questions from live or online. Any questions from this audience? I know, just start. Go ahead. Yes, good morning. I'm Stenloud Gore from APG. A couple of questions. First, on the Gross margin was very solid this quarter. There was a provision in the Doro segment. Can you say what was the Gross margin if we exclude that provision? How will the introduction of the Aurora line affect the Gross margin in the Doro segment going forward or the senior segment going forward? In this case, we have to, since Doro is listed on the exchange in Sweden, Doro needs to answer this question. You can find what you have in the Doro report. We are not allowed to dig more deeply into that question. I'm sorry for that. The second part of the question, how will the Aurora line affect future gross margins or what do you expect of the Gross margin development in the senior segment going forward? What you have seen, if you look at the Doro report, they have had approximately 45%-47% margin, a little bit higher in Q1. From outside, I think it's fair to say that we are on that level. Thank you, very clear. On the new youth product line, can you say, I know it's still early days, but can you say, have there been any initial response from retailers, etc., about being able to place the phones in various retailers? Can you say something about the initial response? Yeah, you will see it soon listed in the Nordic region with demo tables. We have a lot of demo tables with the largest retailers. You will see it there. You will also see it in the standard phone ranging tables in the section in the retailers. So yes. Perfect. Thank you very much. Anyone else? Thank you, Petr from SpareBank 1 Markets. Just to follow up based on this question, we have a representative from Doro here, so would it be possible to answer the Gross margin question? I think this is the Xplora presentation, and you need to refer and ask Doro directly when they are back in Sweden. Okay. Secondly, just on the devices for kind of old Xplora, given that there was a pretty decent miss in Q1, but you say that it's kind of picked up again in Q2, can you say something about how you track towards the 15% growth, let's say, year to date compared to year to date last year? Yeah, that's why we try to be very clear on that. First half year, second half year, we expect to be aligned with what we said with that annual growth. That's also why Kjetil emphasized that what we see as we are becoming larger, we are getting more product into our store, we are getting more retailers in distribution. The fluctuation between the quarter with sell-in will potentially change a little bit more. That's also why we'll give the market even more detailed information about the sell-out in the market. As long as the sell-out in the market is strong and even higher, that will also be picked up in the sell-in eventually, but it might fluctuate more over quarter. We have a very precise, we see the same growth as we have expected. There will be a slightly more change potentially in sell-out, but as long as we keep very strong sell-out and activation, the market moves exactly how we expect. We stand by that growth. I think it's also important to underline what I showed on my second slide, which is the share of watches being activated with a service. So it's not only the number of smartwatches, which is the foundation for the growth of services, it's also the share of smartwatches being sold with a service where you see rolling 12 months is stable, going up in the right direction. So it's also a driver for the service revenue. Just a final question with regards to the price RPU difference between the Nordics and the rest of the world. Is there still same Gross margins between those two markets, or is it gross margin differences as well? I can't say that directly from the top of my head. You see there is a price difference, which is clear, but it's just like, I mean, also the cost side is much lower than we compared to the Nordic market. Both the revenue is lower, but also our cost is significantly lower. I would have to look at every specific market to answer that correctly. All right. Thanks. Anyone else? People are calculating, making comments. If that was all, we would like to thank you everyone for such a big show-up today. We will hang around and be able to speak with everyone individually. Thank you.