Good afternoon and welcome to BuildData's Q3 Results Update for the 3-month period ending March 31, 2022. In terms of introductions, my name is Gustave Geisendorf. I'm the CEO, and I'll take you through a section of this presentation, and then after that I'll hand it over to Bruce Morrison, our CFO. In terms of the agenda for this afternoon, I'll kick it off talking about BuildData. Some of you may have heard this before, so it's a bit of a repetition of that. Some flavors are different based on the progress we've been making with the past few quarters, so I'll highlight those. I'll hand it over to Bruce to go through a financial update, and then I'll take it over again, financial targets and then back to the audience for Q&As. Most of you have probably heard this story before in terms of what we do. Essentially what BuildData's all about is that we're a cloud-based construction management software company that we're selling into the U.K., Irish and Australian markets. I'll talk presentation about the market. I talk about what we sell. We talk about the financials. I guess the main takeaway from this page is that we're certainly not a new company. We've been in operations for the better part of 20 years. We've been going through rapid phase of not only organic growth, but also acquired growth. We're now up to 113 employees. We've made a lot of changes in the business over the past few quarters, including making acquisitions. We bought Createmaster in April of 2021, and then Bond Bryan Digital towards the end, back end of last year. In terms of our strategy, what our strategy is to be a regional champion. We're focused on three markets that we call the home markets. That is the U.K., Ireland and Australia. The U.K. is our biggest market, which represents about 75% of our revenues. Our second largest market is Ireland, and the third one Australia. We're focused on white spots from a growth perspective, and what I mean by white spots is sections in the market where we're seeing no competition. For those that have followed us over the past few quarters know that we're competing in you know selling software solutions to the construction industry, which is the least digitized industry in the world. What we are not focused on is trying to do displacement selling of existing solutions, but entirely trying to bring new market participants you know really to start using technology for the first time. That is our focus and that's how we define white spots. We're trying to do this across the whole project life cycle. What I mean by that is all the way from the early stages of planning and designing a building all the way until the finalized building is up. We're a SaaS-based cloud business. We're very focused strategically on building recurring and predictable revenues. Bruce will cover this later on, but about 80% of our revenues now are recurring or ARR. Being a software company, it's obviously absolutely paramount to have a best-in-class product. We think we have that, which is the key driver for the organic growth we've been experiencing now over the past eight quarters. Just like in any B2B market, which is where we competing, you know, to make sure that we have strong brand that are recognized for being best in class is absolutely critical as well. In the verticals where we are competing, we've got really established market shares in excess of 40% and our brand recognition is growing by the day. In order to complement this organic growth strategy that we have, we're also making acquisitions. We've been doing about one acquisition per six months. I'll talk about the acquisition strategy a little bit more as we move on over the next few pages. Clearly making acquisitions is a core part of our strategy. The market that we're operating in is very large indeed. You know, overall we're selling into the construction market, which is the largest industry of all out there in excess of $10 trillion, which is growing in and around GDP. The section of the market that we're competing is in the vertical of selling software solution to the construction market, which you know is also reasonable size around SEK 25 billion or $3 billion. It's indeed growing quite quick. It depends a little bit on who you're asking and also what country you're looking at. Globally, the market is growing at anywhere between 10%-15%, depending on who you ask. That's more or less the pace of the market. Really what's been driving the market is the amount of technology spend that construction companies are allocating to software spend. That is going up. Technology overall within the construction industry has gone from being a nice to have to must have. We're seeing this, you know, the overall adoption and the move to ConTech across the value chain is increasing, and the number of participants that are coming behind that are more and more. This is indeed quite different than when we looked at it before COVID, where technology was really within our industry really and mostly adopted by the bigger players with big budgets. Now what we've seen is that not only have the large construction companies clearly moved on in their digitization strategy and allocating more budgets, but also what we're seeing is that the whole value chain, including the SME market, is coming behind this big drive of digitizing the construction industry. When we're looking at the global market, there is five or six really big players that are multibillion U.S. dollar market cap companies. A lot of them are American. We got Procore, Trimble, Nemetschek, and Bentley as well as Autodesk. Nemetschek is German, and the four others are American. We're clearly coming up against some competitors. I think what's important to realize with the construction industry is that it's very regional. Even though we're coming across competitors, being regional, having footprint on the ground as well as knowing the local market. That's exactly what we're doing. I think where we really come on top of a number of our larger competitors is by being more nimble and agile and fully understanding the competitive landscape on the ground. That's why we've been growing like we have. You know, when we're coming up against these larger companies in procurement processes, we're winning more than we're losing. That really speaks to the strength of our product and the quality of the people that we have employed in our company. Equally, you know, I think also up in a Nordic market now, there's been a ConTech universe forming with one Finnish company, Admicom, and two in Norway, One Click LCA and SmartCraft. They're certainly selling towards the same end customers as we are. Maybe not entirely the same kind of product, but I think it's more to make the point that the overall industry is maturing, and we're clearly right in the midst of it. There's been a lot of activity in the market, in particular on the M&A side, both small and big. Thinkproject acquired a company called Kairnial in France, which they paid more than 10x sales for. Hilti acquired Fieldwire, which is an American company, for more than 30x sales. PlanRadar recently, which is an Austria-based company, they recently raised SEK 62 million in new capital at a valuation of more than 10x revenues. I think there's clearly a lot of interest in the industry at large, which perhaps is understandable based on the underlying growth dynamics in our industry. In terms of our acquisition strategy, which is really meant to complement our organic growth strategy, I mean, I think we're starting to build a track record. I don't think we're fully there yet. As I said in the report as well, we're still building out our M&A team, which is an ongoing process. I think our strategy is clear. That is to focus on the U.K. We wanna buy companies with at least SEK 50 million revenues. We're looking for growth, 'cause we think growth comes on the back of strong teams and on the back of a strong positioning as well as product. Those are the kind of companies that we're looking for. Over the next few years, we're gonna be substantially more focused on making sure that we're demonstrating profit as a company overall. That's also what we're looking for in the targets we're looking at. Needless to say, making sure that the companies have complementary and recognized brands and in alignment with our overall product positioning is also important, as well as making sure that the management teams that we partner with are strong. I think that that's all the good news, and I think we've done reasonably well in our M&A strategy, but perhaps not well enough. I think what we have experienced in the market over the past really four quarters is really inflated valuations. I mean, for those of you that remember Createmaster, we bought it for 1.2x revenues. About a year ago, it was reasonably easy to have good discussions with target companies at reasonable valuations of 1.2x revenues, and that was our focus, and I think it's also the type of targets we're still looking for. What we have seen, though, in the recent past, you know, which is driven by and large by the massive amount of money coming from venture capitalists, that valuations overall have become very inflated in our industry, driving up valuations really high. Capital raises as of recently have been, you know, very few lower than 10x revenues. We do not think that for us as a company to drive shareholder value for our shareholders, to pay those kind of multiples is not the right way to do it at this stage. We have stayed a little bit put. Now, our view is that we are right at the peak of the market in terms of valuation, and valuations will come down. We're playing it a bit cool at this stage, waiting for the right opportunities and being selective because we're not gonna participate in this race currently going on with absolutely unjustifiable valuations. Our strategy remains the same. We're not gonna divert from it. That is to have a very disciplined view on acquisitions and do acquisitions at the right opportunity as opposed to being pushed to making any acquisitions. Why? Primarily because we clearly, you know, for two reasons, the first one is valuations, as I mentioned. The second one has to do that we're seeing more and more proof that our organic growth strategy is working. Clearly we like to propel our growth even more through acquisitions, but we've got a very strong underlying offering of the type of products and brands that we offer. That is across the three different solutions we offer in Handover, Quality Management and CDE, Asset Information Management. We're seeing incredibly strong growth, and that's both in the U.K. as well as in Ireland. We're also seeing strong growth from property developers and owners. That's what's gonna drive our growth going forward. We're not seeing any elements yet of saturation for us, in particular in the U.K. market. The pools of capital or the pools of revenue that we're fishing in there are very big. I think we're clearly gearing up for even more organic growth. We're really doing that on the back of the strength of our product that I think gets proven more and more proven. The recognition of our brands is growing, and I think we're carving out a very interesting niche in the market. That's quite a strong pool of growth for us going forward as well over the next few years. I guess this next page is really wrapping it all up in terms of you know the brands we've got, the geographies we're competing in, the solutions we're offering, as well as the customer types we're focused on. Our immediate focus in terms of growth, where we think most of the growth is gonna come from is a combination of Zutec and Createmaster. We do believe that the U.K. is gonna be our main growth driver in the near term. On the customer type, we think most of our growth going forwards will come from house builders and property developers, primarily because they haven't digitized up to now. In terms of the solution and the products we offer, we do think we have differentiated solutions in all the solutions we're selling, and leading solutions. The idea is we sell all of those solutions to the customer types that I was just referring to. With that, I'll hand it over to Bruce to go through the financial results. Good afternoon. I haven't spoken to any of you before, but my name's Bruce Morrison. I joined the group back in October as CFO. This is my first opportunity really, having spent six months getting to know the group, to actually be able to present some of the financial information. I know that Gustave has done that in the past. I'm moving quickly on to the information itself. We've got the financial highlights really that we've pulled out from what we've been doing in the last quarter. All the indicators are positive as far as we're concerned. Our net sales are up 159% on last year. What we've done this time is starting to pull out organic growth numbers, and in our net sales we're up 19% on Q3 for the last financial year. We're up 42% on TCV. We're adding a lot of business into the group through our sales. We're seeing it come through both in terms of growth in net sales, but also in terms of just building our order book going forward and building the strength of our future revenues. We can also see this in growth in ARR, which is our recurring revenue. This is the quarterly recurring revenue annualized. In our overall growth in our book, our TCV book, to SEK 106.8 million, which is 158% up, and in ARR up to SEK 74.1 million now. Which in terms of recurring revenue as a percentage of net sales, I think we're at about 84% for the last quarter. A very positive picture from that point of view. Our gross profit margin was 96% for the quarter. I think Gustave may have highlighted in the last presentation that that margin would likely reduce a little bit as we rationalize some of our hosting arrangements. That hasn't happened yet, but I mean, I wouldn't expect it to fall below 95% at this stage. A normalized EBITDA of minus one and a half million SEK, and our balance sheet remains strong. We still have 79.1 million of net cash, 81.8 million of gross cash with an interest-bearing loan, which we're repaying over the next three years. Providing some more flesh on the bones really. This is, as Gustave has already said, the eighth consecutive quarter of accelerating sales growth and net sales increasing quarter-on-quarter 159% from this time last year. Our focus remains on the home markets. We have done a little bit in the Middle East, but predominantly it's the U.K., Ireland and Australia. 77% of our net sales are from the UK, which is by far and away our biggest market, and 60% in Ireland. Most of the growth in Ireland in the last quarter's come through our existing client base. In the UK, though, we've been very effective at adding new business into the group. Our growth is driven both by new customers, relatively insignificant churn, and as well we've been seeking to apply price increases to our existing contract books, some of which haven't really increased significantly for many years, particularly on some of the Createmaster stuff. Overall our organic sales growth from Q3 last year was 19%. That's taking into account as if Createmaster had been in the group at the same quarter last year when clearly it wasn't. Couple of graphs here tracking the trend in ARR. We can see the big spike in Q4 last year when we added means we're 222% up this quarter on Q3 last year. You know, the growth as we've already said driven by strong cluster inflow as well as insignificant churn. TCV. The only reason we haven't done organic growth on ARR at this point is we don't have the information in relation to Createmaster for prior to our acquisition. They just didn't record information in quite the same way as they do now. Moving forward, when we get to next quarter, we'll be able to introduce pro forma organic growth on ARR as well as TCV and net sales. TCV up 158%. Again, as we've said, the pro forma growth of 42%. We signed 301 new contracts worth SEK 28.7 million in the quarter. In terms of earnings, gross profit margin healthy 96%. Our personnel costs at SEK 19.1 million were in line with budget. In fact, actually less than budget for the quarter. We're up to now 113 people at the end of Q3. We had 28 at this same period last year, so significant growth in terms of employee numbers, clearly part through acquisition, but also through hiring in sales and marketing, product and development, and just strengthening the management team across the group. Other external costs, predominantly marketing. We do have some building costs. They are lower than planned again for the quarter. Our EBITDA at SEK -1.5, and a normalized EBITDA again significantly below plan, and I think what the market was expecting. Thank you, Bruce. We're coming towards the end of this presentation, and then we'll hand it back to all of you for Q&A. In terms of our financial targets, we haven't changed them from previous periods. We have been saying is that we're gonna grow organically more than 20%. What we've been saying is the market growth rate times two. If you think about the market, depending as I mentioned right in the beginning, the market estimate is anywhere from 10%-15% expected market growth. We're saying double that. What we have been delivering up to now as Bruce was just talking about is three or four times underlying market growth. Without doubt we're taking market share. We're expecting to continue taking market share as we go along. Our pipeline for new businesses is looking really strong as well. The other thing which we will be doing as well as we're moving forwards is to you know, we've had a lot of new business focus, and that new business focus is gonna continue. If you look at this last quarter, we had about you know, three quarters of all the new contracts as far as TCV being signed with new business. And then 25% of that being renewals on existing contract book. Which hasn't been you know, much of a focus in the past. Now we're moving more and more into driving revenue sources from our existing contract book. Not only historically, which is what we've done, which has been to look for all those price increases at the end of contract, but now we also have started initiatives to do interim engagements on upselling. Which is gonna drive growth even more in particular on our existing contract book. We haven't seen a benefit from that in the past, simply because we haven't been focused on it, but we will be focused on that going forwards. The target that we have on revenues which we have been communicating before is to get to SEK 200 million, doubling more or less from where we are today, by the end of June 2024, I beg your pardon. Based on all the KPIs that we're running, we see no reasons to amend that. That target, just to be very clear, includes a proportion of organic as well as acquired growth, in line with our communicated strategy. The last page of this presentation is that we're feeling very optimistic about where we are, and perhaps even more optimistic about the outlook. The first point on this page is where the industry is growing, and it is digitizing. I think we have a lot of data points now supporting that in all of our markets. It's digitizing globally. It's also digitizing in our home markets, U.K., Ireland as well, and Australia. Which is great, because that's what's driving in the industry at large. What is even better for us as a company is that we're outpacing that market growth by a factor of three or four times. We as a management team, you know, I think are prouder and prouder as we go along, of our track record now, that we're producing. We had eight consecutive quarters accelerating sales growth, as you could see from one of Bruce's prior graphs. In this last quarter, we had 159% growth, and then the last quarter just over 130%. You know, the overall trend in the business looks very promising, in particular based on the pipeline we got. What's obviously beneficial about, you know, when you're a SaaS business like us is that we're not dependent on a number of different customers as we have a lot of different contracts, a lot of different customers, and a truly diversified revenue stream. More than 700 contracts spread across 400 customers. What we have been very focused on, as I've been talking about before, is to move away the business from a project-based selling model to more of an enterprise agreement model. We got now closer or more, you know, in and around 50% of our customers sit on enterprise agreements. If you are, you know, so we obviously sit and calculate internally on long-term value of our customers, and that is very sticky revenue, and we don't anticipate any churn at all. We had very insignificant churn, and very favorable net retention rate numbers as well. These are KPIs that we haven't communicated yet. We probably will in the near term. We just wanted a bit more data points. I think all the signs on you know the traditional KPIs that you would expect from a SaaS model as well is progressing in the right direction. ARR growth we keep on building our recurring revenue stream. 84% of our revenues now come from ARR or recurring revenues. That has been a number that has kept on going up almost quarter by quarter. Then equally when you look at our TCV book in terms of how much of that is actually ARR, significantly higher than 84%. It's quite clear where our overall split in terms of revenue is going, which is to more and more ARR as part of our overall revenue recognition that we got. We got a scalable model. I think we've proven now that we can scale and we can grow well. I think we would dare to say at this time. We've grown a lot. We've done it with insignificant churn. We've done it by holding up gross margin and, you know, at the same time also building a really strong team as well as product. Perhaps what we've not seen is that resulting in profits on a bottom-line basis, but that's purely one of choice, which is that we've been scaling and building out our teams and sales and marketing. I think now we're starting to get to a place where we have an organization that is fit for purpose. I think going forwards, the revenues, if you will, per employee is certainly gonna go down, and our focus is gonna turn to start producing profits going forwards, but not at the expense of reducing our growth rates. That's what we're gonna be managing tightly as a management team going forwards. Growth strategy is intact. Focus on the white spots I was talking about before. We've seen a slight, perhaps, dip in the Irish market. For all the right reasons, which is that we built really strong market shares out there now in our target sectors. What we see on the other hand is that the U.K. now has been really building momentum. We've been building out that team, and we're taking market shares, and getting new customers, customer inflows. The growth engine going forward is gonna be the U.K. without a shadow of a doubt. You know, the U.K. market overall is about six times the size of Ireland, and we're just getting started in the UK. That clearly looks promising. In Australia, it's too early to call how that's gonna work out. It's been a bit of a problem child in the past, but I think, you know, we have a new focus, we have a new management team in place down there, and hopefully that's gonna be a driver for growth in the future as well. So far, it's been, you know, more a drag overall. Even though it's been, you know, flat to up, the Australian business, but it's a drag overall on the growth of the business. The focus on acquisition remains. You know, our pipeline is growing, and then, as I was talking about before, where perhaps a reservation in the market here and now is on valuations. As I said before, we will not participate in you know, valuations where a lot of deals are getting done right now. We're in this market for the long term. We're not looking at short-term opportunistic M&A. We wanna make sure we buy good businesses at the right price, and that remains our focus. I think that comes to the end as we're at the Q&A section. You can either send a Q&A, which it should be in your bar or raise your hand, and then I'll open up. I think we got a first question from Eric. I guess. Hi. Eric, you're on. Can you hear me? Can you hear me? Hello? Now we can hear you. Okay, great. Good afternoon. I just have two questions. You kind of touched upon the first one in the end there, but as you mentioned, you've grown mostly through volume with new customers, but you're looking more into existing ones. I'm just curious, previously growing with existing customer, has it mostly been price increases and more now you want to look into upselling or increasing usage basically per customer? Did I interpret it correctly there? I mean, I think that the right way of looking at it, Eric, is that, you know, most of the growth indeed has come from new business. I think we, you know, we've been very focused over the past 8 quarters on getting new customers and building a longer list of customers and diversifying our revenue profile. You know, the average duration of our contract book now, you know, keeps on going up. You and I have talked about that before. I think now we're sort of running at, you know, 18 or so month on average. That's the average contract we got out there. What we're starting to see now is that some of those contracts are expiring. There's two things that we're focused on there. You know, the first piece is always to make sure that we don't have churn, so we don't wanna lose those customers. Secondly, by the time we get to those contract negotiations, to make sure that we're right sizing pricing. We've been, you know, in the past very focused on making sure that we don't lose deals on price. We're certainly not undercutting price, but, you know, we've been doing a healthy amount of discounting in the past just to make sure that we can onboard new customers. We equally not applied a premium model because it's not been part of our strategy. A lot of our competitors do that. We've always been selling software at the price. Now as we're seeing these contracts are coming up for renewals, not only are we losing, you know, almost no customers, but we're also, you know, so in those renewal negotiations, we're increasing those prices. What we've been seeing in this last quarter is a 15% increase on price, on renewals, on price, which, and that is primarily only based on existing usage at the end of the contract. That's sort of one effort. The second effort is about selling more to the same customers in terms of pure upselling, selling more solutions to that same customer base. That is something that we've not focused on at all in the past, and that initiative only started this quarter. The first piece we're continuing with, the second piece we're starting with. Okay, great. Just a second question on headcount. I noted in the report that you don't really see the same challenges as some other of your colleagues in the sector with high personnel churn, which is nice. I'm just curious, would you say that you're mainly hiring within sales or product development or implementation or so? Is it any specific kinds of people you're looking at? I mean, it's really across the board in all of our functions. You know, we have a total of 12 functions, not to get into all the details. You know, the overall focus, Eric, has been on building the ecosystem, because it's easy to grow, but we also wanna make sure that we grow well, right? We grow in a way that we can also deliver. We've been building out a lot of new functions, such as customer success, which longer term would have an impact on our when we get to renewals to make sure that churn stays down. Customer success is a function that engages with customers throughout the contract life cycle and make sure that customers are happy, you know, in a non-selling way, but at least we can pick up, you know, any noise throughout the contract. That will long term for sure keep churns down, so we can address those issues to the extent there are any quickly. There's been certain new functional hires, like that. We've been building out the management team. We're building out finance. We're building out the M&A. You're right, we certainly put a lot of resources into sales and marketing as well as product. This has been about, you know, building out the entire ecosystem, Eric, across the board. We're hopefully gonna have some exciting announcement on this too, in the not too distant future in terms of, you know, some additions were made to the team. I think there's two things that we have seen above and beyond those few points. The first one is it takes longer to hire, it is certainly more competitive. Our response to that now has been, we just hired a talent acquisition manager to make sure that we're even more now nimble and agile, in terms of securing the best talent out there. Because it is a fierce market, and it does take long, and we need to be differentiated compared to some of our competitors. Secondly, I mean, we haven't seen much employee churn at all. I think we've been spared a bit that way. You know, we're certainly not blind to the fact that the market is a bit crazy, the market, I must admit. I mean, our strategy is not changing in terms of our people pool, which is that, I mean, we wanna make sure that our top performers in our organization are paid really well. The amount of money that we're paying some of our salespeople is the best in the industry. That will continue being the same. We wanna make sure that we pay the people that we got that are good and performing the best. That I think is gonna drive, you know, our retention strategy. You know, even today, you know, we've got about 15 or so open position. I think in the last quarter we managed to fill 10 or 15 positions. I think, you know, we're adding people across the board. It is a tough market. We've had to make changes in our strategy because, I mean, we're 100% people's business, as you know, so having the best talent in our company is important for our success, no doubt. Okay, great. Seems like demand is good though. That's all from me. Thank you. Until next time. Thank you, Eric. I think we have one question. Regarding reaching your 2023 target must be hard enough. Yes, I guess it's a two-prong question. The first one is, you know, not doing M&A, how are you gonna get the SEK 200 million? You know, why don't we sell? Well, I guess on the selling side, we don't really have anything to sell in terms of M&A. All of our brands are clearly core to our strategy. In terms of us getting to SEK 200 million, in terms of organic growth, I mean, I think we're, you know, we're gonna stick to our targets and we're not changing our SEK 200 million. We'll get to the SEK 200 million one way or the other. You know, I think the market will change. I was saying it before, I think we're right at the peak of the market now. I think there are what we started to see as well in the market is that, I mean, for those of you that are informed probably knows that of all companies that raise Series A financing, about, you know, more than 95% of those are not managing to secure Series B. We're seeing a few of those now. You know, so sort of distressed situations that we're also engaged in. There will be M&A opportunities. What we just don't wanna do is to be dragged into that sort of spiral of overpaying for assets and not delivering shareholder value. That's why, you know, we've taken a very rudimentary approach to this when we're engaging with sellers or target companies, and we qualify immediately what the expectations are in terms of price. Because otherwise there's a risk that we just end up wasting, you know, a lot of time. What we're doing now is that we're talking to entrepreneurs, we're talking to target companies, we're building relationships, and soon enough we will return and hopefully we'll be their partner of choice whenever it becomes a little bit more sober in the market. Any other questions? Okay. I think that is a wrap then for today. Thank you so much for dialing in and listening to us. If there are any questions, you know, and this presentation will be uploaded on our website. You got our contact details. To the extent there's any more questions, just let us know. Appreciate you dialing in. Thank you so much and have a nice afternoon. Thank you.