Ladies and gentlemen, thank you for standing by, and I would like to welcome you to Text Q1 KPI for the year 2025-2026, together with annual data. Please note all the lines at the moment are muted, and the format of today's call will be a presentation by the Investor Relations team, led by Marcin Droba and Lucia Casella, followed by the Q&A session. Without further ado, I would now like to pass the line to Mr. Marcin Droba. Please go ahead, sir. Good morning. It's a pleasure to meet you again. This time we have more to cover than usual: not only our quarterly KPIs, but also full-year financial results and a number of recent developments within the company. There's been a lot going on. Nevertheless, we'll do our best to keep things concise and leave as much time as possible for your questions. Before we begin, I'd like to start with a word of thanks. Following the release of our recent results, we've seen a significant number of analyses and discussions about our company, both in Polish and international social media. Many people have dedicated considerable time and effort to take a closer look at what we're building. Most of these have been high quality and insightful. We also want to emphasize that we are here for you, and we are genuinely happy to answer any questions that we are able to respond to. Thank you for all your kindness and goodwill we continue to experience from many of you. That said, we do believe it's important to separate investment decisions from emotions, and we trust everyone here is mindful of that distinction. Now, moving on to the core of today's presentations, we'll begin that presentation by highlighting the most important developments and ongoing processes within our company. The key event, one we've actually been working toward through the past year, is the launch of the Text App, the working name of our new Suite-class solution. As you may recall, the term "suite" has been featured prominently in many of our past presentations. Today, it's no longer just a concept. We're already using it internally, and over 350 of our clients are leveraging it in their daily operations. This marks a pivotal moment in the strategy we outlined even before acquiring the Text.com domain and rebranding from LiveChat Software. The next major milestone will be making the Text App available to new customers, something you can expect to happen within this quarter. We'll also continue migrating our existing customer base to the new platform. In June, we completed another long-term and strategically critical project: the migration to our new cloud infrastructure. One of the immediate outcomes of this shift is the potential to reduce costs in the coming quarters, as we have now phased out the need to maintain two parallel cloud systems. More importantly, this change directly benefits our clients. It improves the quality of our services, eliminates traffic limitations on customer websites, and unlocks new functionalities, especially for our enterprise customers. The completed migration also paved the way for a SOC 2 certification. We have discussed this initiative before, and while we have experienced some delays, those stem from broader organizational changes: updates to our product development structure, workflows, and internal procedures, as closely tied to the Text App rollout. While the certification itself is not at risk, we are currently unable to provide a firm timeline for its completion. That said, the certification process is already delivering value. For some clients, our commitment to the process is reassurance enough. For others, the new security features we have already implemented in response to SOC 2 requirements are what matter most. We have also seen significant activity and faced notable changes around customer acquisition. Some of these are tied to changing patterns in how users discover content online, prompting a necessary overhaul of our SEO efforts. Others relate to the broader macroeconomic climate. We are actively working to strengthen our traditional acquisition channels, which have historically been highly effective, while simultaneously expanding our sales team and increasing our offline presence at industry events. In April, we also opened a new office in Miami, an effort to address current challenges, but also reflects the massive opportunity we see in targeting larger customers through the Text App and our upgraded infrastructure. These efforts are already showing early results, as you'll see in our ARPL charts. Notably, we've signed our first client with an annual contract value of $1 million. That said, this channel naturally comes with longer sales cycles. It's important to emphasize that we're not abandoning our existing acquisition methods. We're building on them. As the CEO noted in the recent letter to investors, our long-term goal is to reach $100 million in annual recurring revenues. When we achieve it, that depends on many variables: market adoption of the Text App and macroeconomic conditions, among others. Currently, the pace of MRR growth is below our expectations. However, we believe that in this challenging year, we've made substantial progress on both the product and infrastructure fronts to put us firmly on the path towards the target. Now, I'm going to discuss the financial results. The net sales for the year were PLN 354.2 million, which is a +5.6% increase year-on-year. The EBIT and net profit declined, which was affected by the difference in financial revenues and costs. Also, the tax rate applied to the profit has caused a decrease of net profit. When we discuss quarterly results, we've seen an increase of 6.8% to PLN 89 million in Q4. We've seen also a decrease in EBIT and net profit by 0.2% and by 3.4%. The majority of that effect on the profit was the balance between the financial costs and revenues that we generated. Actually, this is very much tied to Polish złoty and dollar exchange rate. In terms of EBITDA, it grew to PLN 201.6 million, which is an increase of 1.6%. That actually allows us to maintain the high margins that we had for the whole financial year. This slide, which is number eight, actually shows the future revenues that we have booked already from customer contracts. At the end of the Q4, it is PLN 72.1 million. It will be discussed further by Marcin when we talk about the payments for the quarter. The cash position we have is always very strong. We are generous in paying out dividends a few times a year to our shareholders. When you look at slide number 10, you see the division of revenues between the products. Two things are important here. First of all, the fact that LiveChat accounts for less than 90% of all group revenues. Also, you can see that ChatBot's revenues actually decreased in Q4 of the financial year. That will, again, be later discussed, what has actually led to these numbers. Again, the split by the product on slide number 11. While for the whole year, the LiveChat product actually is responsible for 88.7%. You can see that year-on-year, the share of other products, especially ChatBot, has increased. The last thing in terms of the financial results for the whole year, and actually, we think that it very much underlines what we have achieved financially in the year. The management board has proposed to the AGM a record dividend of PLN 6.06 per share, which is actually the highest one in our history. Thank you, Lucia. Let's move on to the events of the most recent quarter, which ended just a few days ago. We've already covered some of these key milestones: the launch of the Text App, completed cloud migration, opening of our Miami office, and enabling crypto payments for enterprise customers. From the operational standpoint, we saw MRR up by 1.4% year over year, a decline in payments collected, and a key milestone for the HelpDesk product, which exceeded $500,000 in MRR. As we emphasized for some time, we consider MRR and subsequently ARR, annual recurring revenue, the best indicator of our business health. As of June, MRR stood at $7.17 million, marking a 1.4% year-on-year increase. While that pace isn't where we'd like to be, if we look at quarter-to-quarter changes, we added $50,000 in MRR this quarter compared to $20,000 in the previous one and $60,000 before that. In Q2, we actually faced a decline in MRR. This slide highlights the stability of our current model, where the decline in customer count in our core product is offset by RPL growth and the contribution of newer products. Importantly, the recent RPL growth in LiveChat was not driven by price increases, but rather by strong revenue retention and more effective acquisition of larger customers. Of course, summing up, we do not see that MRR stability as a satisfying end goal. Payments collected in the quarter came at $21.83 million, which is lower than in the previous quarter and year ago. This is largely due to a lower share of annual payments in the mix. While not something perfect, we do not see this as a significant issue. This slide illustrates a very important trend: the growing share of large clients with MRR over $500 in total MRR. It now represents 49.8% of our MRR, up from just 42% a year ago. This reflects a transformational shift. Smaller clients are being replaced by larger ones, and existing customers are upselling over time. This is consistent with broader SaaS trends as seen in ChartMogul reports. The industry is currently focusing on revenue retention, which is becoming the main growth driver. This shift is already visible in our revenue retention figure and should, over time, contribute to lower customer churn as well. A similar trend is visible in multi-product adoption. By the end of the quarter, customers using more than just one product were responsible for 34.9% of total MRR, an increase of 3.5 percentage points within a single quarter. We now come to a set of slides that we are showing here for the last time. LiveChat's net customer loss in the quarter was 928, which is obviously not a good result, although around 500 better than in the previous quarter. The phase-out of the native ticketing system in Q1 likely still had some residual effect, but much smaller than before. The decline is mainly due to a combination of high churn and low new customer acquisition, but more in terms of volume than quality. That said, the drop in customer count was offset by RPL growth, which increased by $2.3 during the quarter. ChatBot added 96 net new customers during the quarter, not an exceptional number, but it marks a return to steady growth after a period of some stagnation. We also saw another increase in ChatBot RPL, this time by $3, despite ongoing starter promotions, which remain visible in the initial RPL chart. Customers were less active in exceeding planned limits, which led to lower additional payments. As we already seen, this had a direct negative impact on ChatBot quarterly revenue, even in a situation when MRR of this product is on the rise, is growing. HelpDesk is now approaching a milestone of 2,000 customers. The one-off boost from the shutdown of LiveChat's native ticketing system, which had the last quarter, is now gone. Even so, HelpDesk added 178 new customers, which we view as strong results. Even more importantly, they were high-quality customers, as demonstrated by very strong RPL increase during the quarter by 40.4%. This shows that HelpDesk is becoming an increasingly valuable part of our portfolio. That is all the slides we wanted to share. To wrap up, a few words about our reporting plans going forward. In the upcoming quarters, we will continue to report MRR figures, which we consider the most important indicator of our business growth. We will complement this with data on payment collected to provide a more complete, deeper picture of the company's performance. We will also do our best to provide commentary along these figures and continue adding supplementary data to our presentation. As always, we will maintain our open Q&A sessions where all investors can participate on equal terms. However, we will no longer publish product-level data, that is, customer count and RPL per product. This is not due to recent declines, as the downward trend in LiveChat customer numbers is not something new, and RPL has been increasing across all the products. A similar decision to stop disclosing subscriber numbers was made recently by Netflix, which explicitly stated it no longer wanted to be valued based on that metric alone. There are also several publicly listed, also Polish companies, some of which are at least partially comparable that do not disclose customer counts at all. We believe that compared to many of our peers, we've historically published more detailed data and have not been rewarded for that transparency in any material way. What is important and what was decisive, which with the launch of Text App, which we will be migrating our existing customers to and soon offering to new clients, we expect some loss in continuity, comparability, and clarity in product-level metrics we could share. We are a for-profit organization. Our dividends are paid in cash. MRR will remain a transparent key figure. Being the product of both customer count and RPL, we will simply not be reporting the components of that equation for now. In summary, over the past year, we have been intensely focused on implementing significant changes to our products, expanding our offering into a full product suite, migrating to new cloud infrastructure, and obtaining key certification important for our customers, adapting to new customer acquisition landscape, and increasing our sales effort by expanding and strengthening the sales team. The result of these efforts is the launch of Text App, which is already being used by us and 350 of our existing customers, and will be made available to new customers later this quarter. Thank you. Thank you very much. We'll now be moving to the Q&A part of the call. If you are dialed in by the telephone, please press star two on your keypad. That's star two on your keypad for any questions. You may also ask a voice or a text question if you are dialed in via the web. We have our first question from Mr. Max Ruffaga, Family Office. Congratulations on the milestone with the Suite app. I have four questions. We'll start with the first one. Will the Suite replace the individual products, or will you keep them alongside? If they get replaced, do you have a timeline in mind? Let me maybe start with answering the questions. The introduction of Suite will be phased out. Initially, we will keep the individual products along Suite, especially that this introduction of a Text App is a process. As Marcin already mentioned, more than 350 of our current existing customers are already using Text App. Later in the quarter, the Text App will be available to new customers. In the future, we will be moving the customers to Text App, but that will be a much longer process. Okay. Thank you very much. The second question is, what is the average contract value of Suite customers, and what is the average contract duration? We've separately answered that question already. Actually, we invited current customers to the platform. We chose for the beginning, we chose most active customers, heavy users, customers who are using more than one of our products. These customers are still paying for their current product. For them, we did not introduce a new pricing for them. Do you have visibility already on what customer acquisition costs for the Suite customer will be? Not really. I mean, definitely, the customers we will keep the way we acquire the customers already. The Text.com website will be one of the key places to get to know the offer for Text App. Also, because Text App actually encompasses all the products that we currently have and also adds more, this will be very much suited for larger customers. We also have quite a dedicated sales team that is actively working on getting customers in general. Once Text App will be available for new customers, I am sure they will be very actively offering the solution, the Suite. Okay. Final question from Mr. Max. You stated in the report you're not happy with the current ARR growth rate. What rate would you be happy with? Definitely anything below two digit REI is not satisfying. CEO mentioned this 100 million REI target for us, and we will strive to get to that point as soon as possible. The visibility will be much better at the end of the year. Yes, definitely two digit numbers are what we're looking for. We'll not be happy in single-digit REI. Thank you very much. Next question is for Mr. David Arias, private investor. During the last five years, the EBIT margin has reduced from 62% to about 50%. What will you do to avoid margins keep reducing, and where do you see EBIT margins in the next five years? Actually, I mean, this is a very valid question. In the last five years, the business has changed quite a lot, especially we have built up the new products. Also, the landscape of attracting and the ways of attracting the customers has increased. The competitiveness of the market has increased. We had to act on that. Also, one thing that affects EBIT margin is actually the dollar Polish złoty exchange rate. This is something that has caused quite frequently, I would say, disturbance to, for example, the consensus that was expected by the analysts. This cost is something that we keep, it's a burden to our cost. At the same time, we have a bit of natural hedging because half of the cost, almost half of the cost of operating costs are in US dollars, while we receive the majority of revenues, well, all the revenues in US dollars. To be on the market and to be competitive, we had to invest. Part of it was in the team, in how many people are on the company. Also, we invested in partner programs within the last five years. These were the things that we had to do to be as effective as we used to be. It will be very hard to say where the margins will be within the next five years because the market changes very rapidly. We've been always saying that two or three years' perspective on our market is a long one. That is when we were saying that even before all the AI kicked in and completely changed the landscape. We know that we will be making sacrifices to make our customers happy and to be able to offer them the best product. This is something that is very much in our heart. We want to make a good product. If it means that we have to spend a little bit more, that might be the cost to be competitive. Just one more addition. I recently heard an opinion; it's not my opinion. I heard that only very good companies are able to achieve EBIT margins of at least 15%. Only an excellent company is able to achieve EBIT margin, operational margin at the level of 30%. We definitely will strive to be better than excellent companies in the future. Margins are important for us. What I explained for deeply taught teams, there are a lot of things in place. Some things are out of our control. Currency would be extremely important also for our margins. We will be very focused, very, very cautious about margins and about being very profitable. Okay. Thank you very much. The second question from Mr. David. Are you planning to start a buyback program to take advantage of the low share price and boost the EPS for the future years by reducing the number of free float? We have a lot of discussion on that with investors. At the end of the day, it's shareholders' decision. If some shareholders will come with that idea, if they'll be able to pass that idea, convince the majority of the shareholders at the general meeting to support that idea, it's possible. I don't think that that's the case. In our situation, definitely, at the end of the day, it's the decision of the shareholders. Thank you very much. Next question is for Mr. Pablo from Pole Position Investing. Great progress with the Suite app. Will the results for Q1, full year 2025-2026, be burdened by the cost of migrating to the new cloud environment? Thank you for congratulations. Q1 should already be slightly less in terms of the cost of infrastructure. I mean, we finalized the transition in Q1 of this financial year. They will be slightly lower, but still, we had the cost of both of the providers in that quarter. Okay. Thank you very much. Next question comes from Mr. Francesco Brachi. Thank you for taking my questions and congrats on the achievements presented. Four questions. First one, do you expect further LiveChat churn in the next months? Definitely, when we discuss churn, we usually discuss customer churn, so the number of customers leaving. It's hard to be optimist. At short perspective, we know vacation coming, vacation period, summer period is always the most difficult period when it comes to chat customer churn and acquisition of the new customers. Looking at the number of customers, looking at the LiveChat, I don't see really a reason for huge change in that perspective. Unfortunately, looking at the more important KPI, revenue churn, so actually revenue churn is a similar KPI, but it's about MRR and revenue loss. I think that there is a very, very good chance to see very good numbers here because of the tech staff, because of the initiatives we have in mind, which were postponed for some time because we were very focused on developing Suite and infrastructure projects. Okay. Thank you very much. Second question, how much generative AI is affecting your Suite? I'm thinking how to respond to that question. I mean. Maybe I will start. I mean, heavily. If you look at our current products, each of our products is using some AI features, some AI-driven features. We have some CoPilots in LiveChat. We have, obviously, ChatBot is AI-driven ChatBot. Actually, in every product, we have more or less AI-driven features. Of course, I'm not really a technical expert. All these products actually were not developed, not engineered, not planned with the AI in the center. We just added this feature. Some of them are very valuable to our products. Yes, they create value for the customers. We can see that. Tech staff is designed for AI features such as AI assistants, AI agents, some automation. Yes, I think that's one of the most important differences when you're comparing our current portfolio when AI features are available and Suite we are releasing now. Thank you very much. The third question is, what are the main causes for payment reduction in the last quarter? The payments are actually the sum of the payments for monthly subscriptions and annual subscriptions. In that quarter, the amount of annual subscriptions were slightly lower. That is the main reason for the difference. Okay. Thank you very much. The fourth question is about payments. You accept crypto payments. Once received, do you plan to keep them or exchange to fiat currencies? Actually, these payments are being processed through Stripe solution. On our side, we are getting US dollars. Actually, customers are paying with crypto, but on our side, we are not even seeing, we are not getting crypto. We are getting US dollars. Okay. We have a follow-up question from Mr. Max Ruffaga. Can you please explain what the Text Suite is today? What features does it have? Is it essentially a suite with all your individual products put together or something different? What feedback have customers given, good and bad so far? Actually, it is a product which is a combination, or actually, it unifies the products that we already have. LiveChat, ChatBot, HelpDesk, and Knowledge Base, but also adds new. For example, that is team chat and workflows. However, it was built from scratch and designed from the beginning. It also has the functionalities that are strictly related with AI, so a CoPilot, AI Agents, and many other automations. We talked a little bit about the users of Text App already. Those customers, the heavy users or our already existing customers, we chose them to be able to receive feedback and act upon that. The initial reaction to Text App was a positive one. Also, the customers have indicated what we should add or what we should further develop. This is actually a process. It will be developed. I think, I know for sure that by the end of the quarter, new customers will be able to start the trials in Text App. That will also be the time when, for example, investors could have a look at the Suite. Also, in autumn, we plan to run another edition of Context and Events for our customers. That will be when people from our team will be sharing what is actually inside Text Apps. I think this will be the best opportunity actually to learn about Text App further. Maybe I added just two things. One is that we're still adding some things, some interesting features to Text App. In some weeks, there will be even more features in Text App. That's the one thing. The second is when we are showing, even before launching Text App, we're showing to some customers what we want to propose them. The answer was great, very enthusiastic. We are convinced that we really know what our customers want to achieve and want to have in store. At the same time, obviously, at this moment, there are some hiccups. There are some bugs sometimes. Obviously, that's why we're starting with a few hundred customers, not with all customer base, to improve that solution when it's possible. We get great hopes, great threads, great feedback. It looks like definitely that Text staff is well received. Perfect. Thank you very much. We see no further questions. Perhaps we'll give another 30 seconds for any additional questions to come through. Star two for any voice questions, or you may type your text question on the webcast. Okay. It looks like we have indeed no further questions. I'll be passing the line back to Marcin and Lucia for their concluding remarks. We thank you all for being with us today. Thank you for your time and attention. Be sure that we are open to all questions. We'll be happy to discuss our achievements and answer your questions in the future. Thank you all. It's been a pleasure to meet with you again. See you in three months. Thank you very much. Thank you very much. This concludes today's conference call. We'll now be closing all the lines. Thank you and goodbye.