Devyser Q4 2021 earnings call. It's a great pleasure to have you all here. This is our first earnings call since we were listed at Nasdaq First North Premier on December 10th, 2021. Please go to slide two. Today, you will listen to me, Fredrik Alpsten, the Devyser CEO, and you will also listen to Sabina Berlin, our CFO. I have asked Ulf Klangby, the deputy CEO and the founder of the company, to participate during the Q&A session. Next slide, please. Slide three. Before we go into the Q4 figures, I would like to give you a quick summary of Devyser. We are a Swedish company founded in 2004 that develops, manufactures, and sells diagnostic kits and software for complex DNA testing. They are adapted to the leading DNA sequencing platforms, especially to the NGS platform, the next- generation sequencing platform, which is the latest and fastest- growing platform. We also have products for the early platforms like qPCR and standard sequencing. We are working within three focus areas, hereditary diseases, oncology, and post-transplantation monitoring. We sell our products to clinical diagnostic labs, either via our own sales reps or via distributors. We are based in Stockholm, but we have subsidiary sales offices in seven countries. We are around 80 employees. What do we do? We develop, produce, and commercialize genetic testing kits to guide targeted cancer therapies. It enables rapid diagnosis of hereditary diseases and post-transplant follow-up. All development and all production are taking place in-house here in our facilities south of Stockholm. How do we do it? I think the reason why we have been so successful, strong growth, and profitable more or less since the company was founded, is because we put the customer, a routine diagnostic lab in focus. We provide easy-to-implement, maintain, and use solutions, resulting in substantial time and cost savings for the customer. That's the lab. Slide four, please. The growth in the company has been high. Since 2015, the growth has been 37% per year on average, despite a big hiccup in 2020 due to COVID-19. We reached SEK 93.5 million for the full year 2021. Since the company was founded, we have sold products for more than 2.5 million diagnostic tests. Our products are sold in more than 45 countries, both in Europe, Asia, North America, Africa, and the Middle East. Up to now, we have had a very European focus. We have very nice gross margins on our products, 77% for 2021. Almost pharmaceutical margins, I would say. They are improving as the volumes are increasing and the proportion of direct sales is increasing. The company started as an R&D company, and we have today developed and launched 28 CE-approved products. The company has been very successful in developing products efficiently. It takes us 6-18 months from idea to a finished and launched product. Next slide, please. Slide five. As already said, we are active with diagnostic tests in three areas, hereditary diseases, oncology, and post-transplant monitoring. The biggest area is hereditary diseases. Products for diagnosing hereditary diseases currently make up about 70% of our total sales. Even though fetal diagnostic products, which are included in this area, are still important for us. The area now also includes several hereditary diseases such as tests for thalassemia, cystic fibrosis, fetal RhD screening. A few years ago, we decided to start diagnosing in oncology, and sales currently make up almost 25% of our total sales. We have products for diagnosing hereditary cancer, such as BRCA. These tests can also help us with therapy selection. In recent years, several very good drugs have been introduced, but the effect of them is completely dependent on the genetic composition of the tumor, which is why you want to determine it in order to be able to give the right therapy. The drugs can then be very effective. We see that within a few years, we will have several new products in the oncology segment. In the autumn of 2020, we launched our first product for post-transplant monitoring in stem cell transplantation. It currently accounts for a very small part of our total sales, but it's growing rapidly. With the NGS technology, we can measure very low levels of the donor's and recipient's bone marrow and very accurately follow the development, and thus at an early stage, see if the diseased bone marrow is about to grow back, and then we can start treatment at an early stage. In this segment, we are also developing a product for post-transplant monitoring of solid organs, and we have started with kidney. In terms of volume, this area is very interesting as testing is done frequently on each person during the remaining life of the patient. Next slide, please. Slide six. What's the reason for our success? The basic principle for all our products is process excellence. We are very good at developing and manufacturing genetic test kits and software for the routine diagnostic lab. We do not address the research labs where quick and easy handling is not so critical. Our customers can be small specialized labs or large global lab chains. Their whole business concept is to sell and deliver large volumes of fast, accurate diagnostic results. This is where Devyser's products and focus on process excellence make a difference. We sell reagents that can simplify the lab's workflow and thereby reduce the risk of errors, both by staff but also by robots. Not least that you mix up different test results. We do this by offering well-streamlined and simplified test protocols that reduce time, which leads to cost savings for the lab, which is very important. It differs a bit between our different products and between different kinds of competitors. In general, you can say that with our products, you need lower amount of DNA compared with competitive products. With our products, you have a shorter hands-on time. It goes down from sometimes days to a couple of minutes. The total working time is reduced from weeks to a few days. The training for lab staff is also significantly shorter with our products than with the competing products. As the processes are very complex with the competitive products, it can take up to 12-18 months to train staff in the lab. With our products, this can be completed within a few weeks. Next slide, please. Slide seven. We currently sell in about 45 countries. Until today, we have primarily focused on the European market, which accounts for more than 90% of the total sales. During the first years, the company sold its products via distributors, but in 2014, we decided to start direct sales in Italy after initially having a distributor that we did not think performed well. The increase in sales in Italy has been explosive, and it has been close to 50% on average per year. We have seen that we can both improve sales and increase gross margins by selling direct. As we were so successful in Italy, we started after some years also direct sales in Scandinavia and in Germany. We're now selling direct in the dark blue countries on this map. We talk about Sweden, Denmark, Norway, Italy, Germany, Switzerland, and Austria. In the yellow countries, we are selling via distributors. As we have been so successful in Italy and Scandinavia, we decided in 2021 to change our strategy and start selling direct in some more countries. As in 2021, we have hired sales reps in U.K., Spain, and Benelux, and we are right now hiring in France. That's the light blue area in Europe on the map. Since 2021, we have also set up our own sales organization in North America. We have not had any sales in U.S. earlier. The U.S. market is the biggest IVD market in the world, and it's the market with the highest prices. We think it's very interesting. Next slide, please. Slide eight. For many years, Devyser focused its operations on developing world-class products. There has been much less focus on marketing and sales. This has started to be changed properly. We have now a very clear growth strategy consisting primarily of three initiatives. The first initiative is strengthening the sales organization in key markets. It means primarily switching from distributor sales to direct sales in some European countries. It also means increased focus on some of the markets with distributor sales. The second initiative is geographical expansion into new markets. We are primarily talking about U.S., Canada, and some Asian countries. As said earlier, we have established a U.S. sales organization in 2021, and in 2021, we have also signed some new distributor agreements in some Asian countries. The third initiative is focus on core products and launch of new products. Since the company was founded, we have on average launched two new products per year. To maintain a high growth, it's important for us to continue launching new developed products. What we see, but which we do not dare to take into account in our projection because it's so binary, are all the national screening programs that have started to come. As one now begins to understand the opportunities with DNA sequencing, the authorities see enormous opportunities to reduce healthcare costs and save patient lives by implementing large screening programs at an early stage. We are now quite well-financed. No debts and some SEK 400 million in liquidity. We are looking for acquisition opportunities even if we are very picky before acquiring them. As you may have seen, we acquired a company at the beginning of February, SmartSeq. We were a part owner of that company with 30%, but we acquired the remaining 70%. That's exactly that kind of acquisition we see going forward. Companies that can contribute to our present business. Slide nine, please. As said earlier, we were listed on December 10th at Nasdaq First North Premier. The offering was multiple times oversubscribed. In total, we raised SEK 348 million, including the overallotment option. We are very glad and proud of the well-known shareholders we got in connection with our deal. Some of them you can see on the list to the left. Before leaving it over to Sabina, I would like to repeat our financial targets. We have three financial targets. The first one is revenue growth. Devyser's growth target is to achieve an annual organic growth in excess of 30%. As you can see to the right, we are above that now. The second financial target is to achieve a gross margin in excess of 80% in the medium term. We are not yet here, but we are optimistic. Higher volumes will over time give higher gross margins. Our third financial target is to achieve an operating margin, an EBIT margin, above 20% in the medium term. We are now investing a lot in the market and sales buildup, and therefore prioritize that for a decent EBIT margin. Next slide, please. Slide 11, and I leave over to Sabina. Thank you, Fredrik. Now starting on slide 11. We are very happy to report net sales of SEK 93.5 million, with SEK 24.5 million in Q4, as Fredrik mentioned, making this our strongest quarter so far. Compared to last year's SEK 65.7 million in sales, this is a year-on-year growth of close to 47%, adjusted for exchange rate fluctuation. Gross profit for the year came in at SEK 71.9 million or close to 77%, and that's well above last year's 71.6% gross margin. Our loss at both EBIT level and after taxes has increased, but this is along with our expectations as we invest heavily in our strength and market presence in both Europe and the U.S. We see the same trend in cash flow from operating activities. We ended the year with a liquidity of SEK 383 million after the share issue in December. In early Q1, we received an additional SEK 48 million after the exercise of the overallotment option. Next slide, please, number 12. Europe has remained our strongest market during 2021, with some contribution from the Middle East and Africa, making EMEA carry about 90% of our net sales in Q4. Both Asia-Pacific and the Americas have seen a stable growth since 2020, even if numbers are still small. Our direct sales with Italy providing a large portion of direct market revenue made up about 70% of our revenue both in the quarter and the full year. Our distributor business remains strong and will continue to be an important strategy in parallel with our direct market approach. Moving on to slide number 13, please. Looking at our sales and gross margin per quarter, we see a continued growth in revenue quarter-over-quarter with a very clear impact from the pandemic in 2020. Gross margins have remained quite stable between 70% and 80% over the past few years. There has been some impact on our margins as we have expanded our production capacity to ramp up for continued growth. That is why you see still a slightly flat curve on the gross margin, even if we grow on the revenue side. As we now have a quite stable production capacity that can carry a lot of our expected growth, you will see, as communicated before, some balance in line with our targets. We would like to open up for any questions you might have. Operator, please. Thank you. If you do wish to ask a question, please press zero one on your telephone keypads. If you wish to withdraw your question, please press zero two to cancel. There will now be a brief pause while questions are being registered. Just to remind you, if you would like to ask a question, please press zero one on your telephone keypad. We have no questions at this time. Please go ahead, speakers. Thank you very much. Thank you for coming in, listen to us to this first earnings call. Hope to see you soon again, and thank you again. Bye-bye.