Hi, and welcome to Albert 's Second Quarter Report 2025. With us to present, we have CEO Fredrik Bengtsson and CFO Erik Bergelin. If you have any questions for the company, you can fill them in the form to the right. With that, I give the word to you, Fredrik. Good morning, and thank you for joining. With me today is our CFO, Erik Bergelin, and together we will walk you through the Albert Group's second quarter and first six months. Today's agenda is the actions from the second quarter, moving on to a brief review on our fundamental business, which is our brands, our customers, and the value Albert Group adds in this segment. Erik will then go through the financials from our report, and we will summarize what we're doing right now, and then we'll open up for questions. This has been my first quarter as CEO of Albert Group, and a quarter of decisive action from both our board and from our management. I was brought into the group by the board in late April with a mandate to assess all aspects of the business, to propose an effective change towards profitable growth, and to execute on this plan. That is what we have done. In May, Erik Bergelin was announced as our new CFO of Albert Group. I recruited Erik internally, which is a sign of the strength we have within our group. Recruiting Erik was the first shift towards a leaner organization with reinforced attention to financial control and efficiency. After a thorough review, we moved quickly to protect our path to profitability. We launched a SEK 25 million annual cost savings program. We streamlined the organization from 103 to 75 people, with most reductions affecting central functions, middle management, overlapping roles in product teams across the Swedish and U.K. operations, and we maintained our marketing and sales capacity to ensure the continued commercial focus in our core markets. This program was both planned, launched, and executed in June. The strategic review of our assets is ongoing, with a sharp focus on our path to profitability and to profitable growth. We are now putting in place a more decentralized model with a minimal group overhead, where each business unit carries its own P&L responsibility. This structure is designed to bring our local brands closer to the core markets, supporting faster decision-making, improved customer focus, and increased operational agility. The effect is immediate. We have lowered our cost base, which already in Q3 will place Albert Group firmly on the path towards our communicated financial targets. Albert is not one brand or one product. It's a group with unique strengths. Albert is the number one Nordic B2C maths learning app for children and youth. Samdog is our UK school-focused B2B solution, which we have now expanded into Wales with a localized curriculum. Swedish Film is a digital streaming service for schools with high-quality content. Strawberries is a hands-on STEM learning tool with strong traction in U.S. schools. The market for EdTech is not just growing, it's becoming ever more essential. Albert Group has strong brands with leading positions in both the Nordic B2C markets and the UK B2B school markets. Education is under pressure everywhere. Families and schools are looking for affordable, engaging, and personalized learning solutions. Knowledge is the currency of the future, and our mission has never been more relevant. Albert Group is well positioned in this space with our proven products and loyal users. One thing that really stands out is the feedback from our users. Parents, teachers, and children are engaged and satisfied. We see strong usage across our apps, and testimonials continuously show us that what we deliver makes a difference. That is important because it shows that we don't need to reinvent the wheel. Our services are strong, and our job now is to run them more efficiently and scale what works. I will now hand over to Erik for financial updates. Thank you. Let's go back there. Thank you, Fredrik. I fully agree that the group consists of several very strong brands with good outlook. Our job is to ensure long-term profitability by tailoring the costume right while focusing on high-yield ROI projects that fuel the growth of our brands. What I will go through now are some core KPIs that we follow closely on group and brand level: net revenue, EBITDA, EBITDA margin, cash flow, and cash balance. Our net revenue for Q2 is SEK 41.6 million compared to SEK 49.5 million in 2024. The drop is more or less only from the challenging macro environments in the U.S., impacting our U.S. B2B sales business significantly. If we would have sold as much in U.S. business-to-business as we did in 2024, our sales would have been SEK 49.3 million and basically the same as Q2 2024. We keep our momentum in our subscription business and see good signs of growth, where last year's investments in sales and marketing now show promising signs of increased revenue. Looking at EBITDA, we continue our journey to be EBITDA positive in 2025. Our EBITDA for Q2 was - SEK 10.5 million and highly impacted by both one-off costs for the restructuring program and poor sales numbers from our U.S. business-to-business. If we deduct the one-off restructuring cost of SEK 5.3 million, the adjusted EBITDA is only - SEK 5.1 million. This then includes the poor B2B sales in the U.S. in quarter two. With these facts in mind and full effect of the restructuring program in Q3 and onwards, we foresee a more positive EBITDA outlook. Similarly, with the EBITDA margin, we are heavily impacted by B2B U.S. sales and the restructuring cost ending on minus 25%. Removing the one-off costs, we are at - 12% with clear trend upwards. The EBITDA margin will be closely watched now going forward to ensure we target a fair EBITDA margin paired with a wanted growth percentage. Looking at our quarterly cash flow, we ended the period on - SEK 21.2 million. This is not what we wanted, but some added costs due to the restructuring program plus our B2B U.S. business is performing below par. This is unfortunately where we ended up in. Our cash balance is therefore SEK 34 million end of June. As you all know, me and Fredrik and the rest of the organization are now taking the right but tough decisions to, one, tailor each of our brands' costume right to ensure that we flatten the cash balance curve, and, two, focus on our efforts on high-yield ROI investment that ensure we grow our top line without adding unnecessary costs. Although challenging, we expect that reaching positive cash flow with our own funds is achievable. Thank you. Thank you, Erik. Looking forward, we have taken decisive measures to strengthen our financial foundation and to simplify our organization. There are still challenges ahead, but we are addressing them swiftly and systematically. Looking ahead, our focus is clear: to build a strong organization close to our customers, to foster an entrepreneurial culture where each business unit owns its results, and to keep full focus on profitability as the next step towards sustainable growth. With a leaner structure, proven products, and loyal users, Albert Group is well positioned to move forward and to create long-term value for our customers, for our employees, and for our shareholders. Thank you, and we will now open up for questions. Thanks for that presentation. Now over to the Q&A. First question here. How confident is management in reaching the stated target of positive EBITDA in 2025 and cash flow break-even in 2026, given the current burn rate and available cash position? Our first priority is EBITDA profitability, which directly drives operating cash flow. With cost savings now implemented, cash burn will reduce in the second half of the year. We're also actively managing working capital and reviewing non-core assets, which supports liquidity. Cash flow is therefore directly linked to our EBITDA journey. Looking at the cash position, at the end of Q2, we had SEK 34 million in cash. With cost savings and focus on profitable growth, we believe that we have sufficient run rate to reach break-even. We continuously evaluate all options and will strengthen the balance sheet if needed. We are operating under the assumption that our path to profitability growth with our own resources is the way we will fund ourselves going forward. Thanks. What are the key risks to continue the business to customer growth, particularly in the Nordics where unit economics remain attractive? Key risks. Customer satisfaction is always a risk, and we have been working hard on that. We are constantly evaluating different payment methods, different contractual terms, attaining customers at a low customer acquisition cost, and also working on prolonging their lifetime as customers within our group. That falls back to the loyalty and the quality of our services, and that is something we balance on a day-to-day basis. Thanks. How will the reduction in workforce and the focus on immediate EBITDA impact the product development and innovation in the medium term? We believe that we have had more resources than the customers were able to appreciate, and that is why we focused the cost reductions on the product side. We see that we have a very good customer traction. They appreciate our products, and we believe that the products are mature and good enough to be able to carry themselves with a lower development focus going forward because we have developed them for 10 and 15 years continuously. We know that our products are good. Thanks. What is the long-term strategy to reignite meaningful growth, especially in the B2B segment? In the B2B segment, we have strong customer loyalty and a lower churn than we do in the consumer business. Looking at Sumdog, for instance, which is a leading maths service in the U.K., we have focused on the areas that we are the strongest within and duplicated those. For instance, Sumdog is extremely well positioned in Scotland, which is a smaller part of the market but with a very high affinity. We have identified reasons for this, and we have also, in May, launched a similar strategy for Wales, where we adopted the Welsh curricula system and language. We continue to build on becoming strong in partial regions and growing our focus in that way, which means that we have a lower churn and a safer position. That is our way going forward as well, becoming very strong in each local market. Thanks. Now over for the last question here. Could management provide more clarity on the strategic review of the product and the brand portfolio? Yeah. Looking at the accelerated transformation program we launched, this program was about focus, speed, and financial discipline, and it covered three dimensions. It covered the reduction of the cost base with SEK 25 million annually, which is in addition to the program the group launched a year and a half ago. This is an accelerated program that we implemented now. We're concentrating resources on profitable brands and markets, which means a clearer focus. We're simplifying the organization to speed up execution. That is a learning from what has been happening in the last year, which we haven't seen the effect that we were hoping to see from. We adopt accordingly. Looking at what it means in practice, we're reviewing all parts of the group to ensure a strategic and financial alignment. Some brands are core to our mission and profitable growth. Others may find stronger potential under different ownership. We have communicated this review openly, and we will update the market if and when any decisions are made in any directions. Thanks. Thanks for the presentation. I'll give the word over to you, Fredrik, for some closing remarks. Thank you. Thank you again for your interest and for your participation in today's presentation. I look forward to speaking to you again soon. That's all for us for now. Thank you so much. Thank you.