We continue with a little bit summary of our business. I am going to guide you through. I know it is a little bit crowded. Let us start to the left, we are one of the leading marketplaces in the Nordics. Number two, to be clear. We have three million active customers, meaning we have three million unique persons who have purchased something the last 12 months, which is a significant number. We have 100 million annual visits. We have 30 million SKUs, meaning products for sale at our marketplaces. We have 3,000 active merchants that are providing with the supply on our marketplaces. Moving over to the middle, I am going to explain the marketplace model also, but it is a very asset light, a scalable business model with an efficient capital structure. What it means that we are a marketplace is that we do not carry any products in our inventory or in our books. Everything is provided from our connected merchants. This is very close to Amazon's marketplace model. Looking here in the middle, we have 3,000 merchants to the left, uploading product information to our sites. We are deciding to which marketplace they fit the best. Then we do the marketing to our active customers and new customers, obviously. The customers comes to our sites, do their purchase. We send the order information through our systems to the merchants. The merchants ships the goods directly to the customers. Then with a delay, we pay out the sales to the merchants, deducting our selling fees. Our take rate, as we call it, is quite different between the two marketplaces. On CDON, we have a take rate of about 13% that we get to keep on every sales. On Fyndiq, it is 28%. If something gets wrong with a purchase, we have customer service acting as if it is our own product and helping the customers out if something is wrong. This yielded some numbers to the right. We had a total gross merchandise value. This is our total sales. It is a marketplace term. That is really what we are selling through our checkout, the products plus the shipping fee. We had a GMV of $260 million, 20 25. Net sales, what we get to keep, of $50 million. Then the gross profit after marketing, when we are deducting our marketing cost, we get to keep $23 million. That ended on an EBITDA of $3.5 million, 2025. I think this is quite a cool number also. We were founded 1999. It is not so often you say on an internet company that you were founded 1900, but we were, and Fyndiq was founded 2010. We are listed on the First North, and we are actively operating in the four Nordic countries. We have two different marketplaces. Start with CDON. At CDON, you will find the best of the most. Our mission is to offer our customers the best selection of quality products in a reliable and convenient way. Here we have a focus on quality products from well-known brands, and the crown jewel is really our consumer electronics. This has been the past of CDON. The first was CDs. I guess a lot of you have bought your first CDs on CDON, but now we are much more focused into general consumer electronics. AirPods, iPhones, TVs, PlayStations, and such. While Fyndiq is much more focused on the bargain hunters. At Fyndiq, you will always strike a bargain, and our mission is to offer value-conscious consumers unbeatable bargains with a best-in-class shopping experience. Here we have really low price points, but also have the new trending TikTok products, always with the Nordic trust as a base foundation for both Fyndiq and CDON. We will get back to this Nordic trust part of it because this is really how we want to operate our business, that you can really rely on our Nordic values and how we operate our business. This is something that never an American company or a Chinese company can replicate. We are born and raised in the Nordics and will continue like that. A little bit crowded, but this is actually a business model that Jeff Bezos wrote on a napkin describing the marketplace flywheel. This is where we get. First start with sellers, and this is how all marketplaces work, such as Hemnet or Blocket and so on. You need to have first the supply, sellers joining your marketplace. They upload products or ads in the Hemnet's case or Blocket. Then you make sure that you have a good customer experience, you have shipping, you have customer service and such. That will also generate traffic. You get traffic to the site, people coming to your site. When that happens, you get more sellers being interested in the marketplace, uploading more products, and then you have the flywheel going on. This is why you say the first years of creating marketplace is really hard, because you need to get this flywheel going. We have this flywheel going now, and we are really expanding into the Nordics with quite high pace now. Our focus now is three-folded. The first one is to massively increase the supply. We know that the correlation between increased sales and supply is really high, and this is what also customers expect from a marketplace. This is why we're going for a one-stop shop type of marketplace for both CDON and Fyndiq. Improving customer happiness is something we are really focusing on. That's one of the challenges when you don't see the products, you don't buy the products, is to make sure that people get happy even though it's not your products. Funny enough, CDON has had lower customer happiness than Fyndiq, despite the type of products that Fyndiq is selling. This focus we are now moving over to CDON and making sure that will also go up to high standards. Everybody's talking about AI, but we really have made that as a pillar on how we're running the business to inject everything we're doing with AI, both internally, but also externally. This is a way for us also to keep the OpEx low, we're just around 80 people having a + $200 million turnover, and this is also thanks to the AI boost that we do everywhere. The potential in the business. This is the best slide, I would say. We have a big anomaly in the Western world. In Europe, the way of shopping online is mainly, or to a big part, through marketplaces. Not only Amazon, there are several different type of local marketplaces. In Europe, about 40% of the online shopping is through a marketplace. In U.S., dominated by especially Amazon but also eBay, 50% of the online sales is through a marketplace. Looking in China, it is 90%. In the Nordics, it is 10%. We do not believe that we are wired differently than our European customers. We just believe that we are lagging behind. We have not started early enough like they did with Amazon in Germany, in U.S., and so on. We are catching up, and we believe that over time, this behavior will also happen in the Nordics. The Nordic e-commerce market is huge, $45 billion. Looking to the left, you can see that Sweden is the biggest part, but still, combining with the other markets, countries, Sweden is not the dominant player. Looking to the right, we have the growth rate of the e-commerce market. To start with, about only 15%-20% of the total retail is online. So still 80% is shopped through physical stores. For me, putting, I would say, about 95% of my wallet online, I am surprised every year that still 80% of the retail money goes into physical stores. We are moving this from physical to online with a rate of around 15% now, and we believe that will continue for many years. This is also a tailwind that is in our favor as well. Looking into the European market then, it is really easy to say that, but Amazon is everything, and sometimes when you read the news, it is very Amazon-dominated. Amazon is a strong competitor, but they also paving the way for us to make sure that consumers start to buy more and more through a marketplace. We have several examples in the Europe where we have local competitors even being bigger. Let us start with in Germany, which is Amazon's second-biggest country in the world. We have Otto Group, which is not as big as Amazon, but growing very fast as a marketplace as well. In France, we have Cdiscount that has been around since also end of 19th century, as CDON. Being about the same size as Amazon in France. In Sweden, we are about the same size as Amazon. Combined, we do not have the exact numbers. We believe they are a bit bigger, but roughly around there. The Netherlands, we have Bol.com that is actually bigger than Amazon, despite Amazon being in Germany and having Germany as the second-biggest market. In Poland, we have Allegro, which is many, many multiple times bigger than Amazon in Poland, despite Amazon having their biggest warehouses located in Poland. These are a couple of examples where we believe that it is not a one company show and everything ends up on Amazon. We believe that this is a change in customer behavior, and we are one of them leading this. Looking back at our growth numbers, we reported mid-July, our second quarter. We have a strong double-digit growth now since fourth quarter last year, and 8% before that. I think this is quite strong now, given also we have the weaker consumer sentiment. We have had, especially in Sweden, a quite weak consumer sentiment for the last one or two years. We have been waiting for the turnaround and now for the fall with half food VAT and so on, maybe this will kick the tires moving faster also for the consumer. This is our recent quarters. Looking into the EBIT also, we are moving this over to the profit also. This is last 12 months for every quarter. We had a SEK 20 million EBITDA in rolling 12 months for the second quarter, and that had also some investments in the investment cases that I will just touch upon soon. Moving really into the peak season for retail now. Third quarter is strong, but Q4 is super strong, as you know. Really hoping for. It maybe sounds weird, but we are so focused on Black Friday or talking about Christmas and everything, even though it is still sunny and warm outside. What we are doing now is accelerating to become the Nordic leader in the marketplace segment, and we have four different growth initiatives that we have put substantial investments in for this year. The first one is retail media. This have been talking a lot about that in the Nordics the last couple of years. Retail media is mainly for external brands to go in and market, promote their products at the retailer. In our case, it could be that Samsung, their newest TV, instead of having a generic ad on Aftonbladet or some other news outlet, we could say that, okay, in the TV category, we have high-intent customers, so maybe you should put your top banner there instead and promote your latest TV. This is a way for the brands to not get too dependent on Google and really get closer to the consumer and closer to the intent also. This is a big market where the brand owners are moving money into that type of direction. That is one of two. The second part is a little bit more marketplace specialized, and that is enabling for the merchants to push and promote their products. This is an auction-based system that we have now implemented, which enables merchants to push their products in listings, in categories, in mails, and such. This is a badly hidden secret in the marketplace business. Looking at all the other marketplaces, usually you add 1%-3% on top of GMV, but that is highly profitable. That usually has a gross margin of about 85%. This is really good, highly profitable money. That is the first one. We are live now with CDON and at the ending phase of beta testing for Fyndiq. The second part is the Nordic growth opportunities. I spoke before that Sweden is only 38% of the Nordic eCom market. We are now accelerating that into the rest of the Nordics. We know the recipe, what works, it is really adding more supply. So what we are doing now is to focus on local merchants in Finland, Norway, and Denmark through aggregators that are gathering many merchants. The second part we are focusing on is to make sure that we have specific merchants that are performing well in one country but not live in other countries to make sure that they expand their business into all the Nordic countries. This have proven to work very well. In the second quarter, we had a growth of CDON Nordics of 12%, and for CDON Fyndiq, 51%. This is growing quite good now. The third one is brand marketing. We will do a quite big push this fall. I promise you will not miss this. This will be live quite soon, and we will start with CDON. We haven't done brand marketing for neither of the two segments, CDON and Fyndiq, for almost four years now. This has been deliberate because when we combined the two companies and organizations, we realized that the core business was not good enough. We didn't have enough happy customers, and we didn't have good enough supply. So what we focused on was really getting back to basics for three years now, making sure that we have a value proposition that's appealing for the customers and making sure that we have products that people want at competitive prices. Now we have that. So now we will go out, start and promoting to the Nordic consumers that CDON still exists, and we don't only sell CDs. Then after that, we will continue with Fyndiq as well. Also what I would like to add on that is that both Fyndiq and CDON is quite well-known brands in Sweden. We have an aided awareness when we are asking people, "Do you know this brand?" of above 75%- 82% for the two brands. So a lot of people know about the brands, have heard about the brands, but especially in CDON's case, we have a disconnect with the feeling for the brand. What do you relate to CDON? What is CDON for you today? And there we really have a disconnect with what we are offering, being a modern marketplace company, and people don't really realize that. So that's what we are going to focus on now during the fall. Then last, we have the tech resource boost, focused on adding more tech resources. We are really a company that is a mix between a tech company and an e-commerce company. Half of the team is engineers. 20 minutes already? Yeah. Yeah. Time flies. Time flies. All right. I am going to briefly go through this because we have communicated a financial target for next year, and that is that we are going to reach SEK 100 million in EBITDA. We have a bridge here where we are trying to illustrative, try to help out how that could be bridged into next year. Starting to the left with the SEK 30 million we did in 2025, adding what it would be in 2026 and 2027 on a base case on SEK 20 million added EBITDA. Then we believe that we could yield about SEK 50 million in EBITDA from these four growth cases that I went through, and that would end up in total of SEK 100 million EBITDA. Briefly, I think this is the second last slide. Illustrative, if we were to divide these SEK 50 million on all four growth initiatives, it would be SEK 12.5 million EBITDA per growth initiative. In retail media, that would translate into 1% of GMV. As I said before, the market standard is 1%-3%. Going at the lower rate here, we would yield SEK 12.5 million EBITDA. The Nordic opportunity, if we were to grow 20%, that would yield SEK 12.5 million EBITDA. As I said before, in Q2, we grew by 12% for CDON Nordics and 50% for Fyndiq Nordics. Brand marketing is harder because we have not disclosed how much we are going to spend into brand marketing. But we just distribute the 12.5% there as well. Then we have the tech resource boost, which is that cost needs an increase of 5% of our sales. Given that we now have grown with 13%, we believe that 5% is well reachable with increasing our innovation, increasing conversion rate, and traffic. That is just a short illustration of how this could be back calculated. Now I am on the last slide. Super. To do an investment highlights. We have an under-penetrated marketplace market in the Nordics. We have two different marketplace segments with distinct positions, CDON and Fyndiq. We have a highly scalable business model with strong capital dynamics and a scalable GMV growth that does not require an increase of the OpEx. And we now have 15 consecutive months of top-line growth for the company. That was it. Super. Thank you so much. I have a couple of questions, and then maybe we will have time for questions from the floor as well. Can I start by asking about de minimis, if that is had any big impact? We have from the 1st of July, packages imported from Asia are applied with a toll of EUR 3. Yeah. How has that impacted you, your closest competitors, Amazon, for instance, Temu? How is that relative game? Good question, I am happy you started with that because I think that is the most relevant, to be honest. I also realize that we are one day away from going into the silent period. So on July 1st, what happened was that EU put tariffs on each and every product being directly shipped from China to the end consumer of EUR 3. This will also be added in November with additional EUR 2. What is the purpose of this? You have all read about it. It is a too unfair playing field from the Chinese actors. Effectively enough, it has been cheaper to ship something from Shanghai to Stockholm than from Södertälje to Stockholm, which is kind of crazy. This is what the EU is changing now. We really salute this. We think it is very good. They are getting harder on all the compliance parts that Temu especially, and also Shein does not comply with, that we are complying with and want to comply with. Going back to how it has affected, I will obviously not give any numbers because this is so recent. What actually we have seen is that Svenska Dagbladet went out last week with a quite extensive research about this, and they said that Temu have lost 50% of their sales. I think you could go into Google Trends and see if we have lost 50% on traction on Fyndiq, and you will see there that we haven't. So that is a proxy that you can use and see if we are losing as much as 50%. This will change the whole supply chain. When I came up with the idea 16 years ago for Fyndiq to have an "Ullared på nätet", was the base idea of it, there was no Chinese distribution at that time. It was just Swedish merchants. We want to do this online instead of having the physical stores. Over time, this has changed, so we have European merchants. When Wish arrived, as you know, in 2006, they opened up the gate for direct shipment from pretty much Chinese factories to Swedish consumers. That changed the whole supply chain. We have, throughout the time, always had the same value proposition, to have a bargain store online, and that will continue. Now the supply chain is changing, and we are not 100% Chinese supply that Temu and Shein is, but still, it is a big part of it. We are now adapting to this fast enough. Of course, it is affecting us. We will get back in a month or so with how much. Looking at Google Trends, it is not even close to the Temu loss we have seen. EU tariffs seem to work as they were designed to. Excellent. Another thing you brought up here early in the presentation, you talked about an aim to massively increase supply. Yep. Can you tell us a little bit about the drivers here and how far you have come in that process? Yeah. One beauty of the marketplace model is that our margin cost is so low for adding more supply. It is close to zero to add hundreds of thousands of products to our marketplace. The cost is more on the consumer side to make sure that we have relevant products and compliant product, and that people get happy with the products that they receive. That is more the higher cost of it. Now I lost your What was the question? About how do you massively Yeah Increase the supply? Exactly. Yeah. Yes. What we are doing now, especially, I would say the maturity level of Fyndiq is maybe close to 80% when it comes to supply. While for CDON, we are maybe closer to 20%, 25%, something like that. So we still have so much potential in adding more categories and more supply. And how our main strategy for that now has been to focus on European giants. Giants, meaning above SEK 1 billion in turnover, because we see that those type of merchants have a very efficient supply chain and have competitive prices. Since last year, we have been focusing on these giants and have onboarded them with a good effect now. I think last quarter, we could report that 7% or 8% of our total GMV now is from these giants, and that is expanding also. Yeah. Also curious about what would you say are the main synergies between Fyndiq and CDON, and how far have you come in realizing those synergies? Very far. First of all, we have one organization handling both of the segments. So there, we have one synergy. Both marketing departments, customer service, finance department, and so on. But also one big kicker is really the platform. We have one platform operating two different marketplaces in four different markets. That was something that we were integrating both the organization and the platform the last recent three years. Now we are done with that, and we are really reaping the benefits from this now. Mm-hmm. Super. I think we are actually at the end of the 30 minutes here, so we are going to have to end here. Thank you so much, Fredrik, for coming here to present, and best of luck. Thank you. Thank you.