Welcome to this live queue with Formpipe. We will start with a presentation about the third quarter, and then we will have a Q&A session, and it's possible to ask questions below the stream already now. Now it's time for the CEO, Magnus Svenningson, and CFO, Joakim Alfredson. You're welcome. Thank you very much, and it's great to be here at Redeye, doing my first quarterly report, and it's also a pleasure to do the report, as the job that has been done for me has been great, and we are sort of in a very good momentum with Formpipe. The three important things, I would say on a high level with Formpipe in this first little section here, and it's, of course, the continued profitability. And it's really good to see that all of our three business areas is now profitable. We have renegotiated our contract in Denmark, Landbrugsstyrelsen, and we have also started our transformation of our consultancy business, so that we do more application consulting ourselves. And this is two things that are driving this profitability increase, together with our great job in the private sector. Then, as a second point, our revenue or our recurring revenue growth, it is, as you know, we are active in public and private sector, and in the public sector, the transition to cloud is slower than in the private sector. However, we see that as one momentum in growing our recurring revenue growth. But of course, it is our private sector that is the main driver for this good development. And then finally, we have our increased pipeline activity. During spring, we saw that the Dynamics, Microsoft Dynamics ecosystem was a little bit slower compared what you used to see. There, we now see a much better momentum when we look, look at customer activities, and I will come back to that a little bit later on, on the Microsoft event we participated just last week. And then, of course, also coming to the banking and bank and finance sector, where we lost four, we won four contracts, which was great, and that is actually the best number over a quarter we have seen so far. And then two banks turned out, which has to do with with sort of their financial implications, which is a little bit sad that it happens two in one quarter. However, I would like you to take along the fact that we are winning four, and that is actually the best number we have done in the quarter so far. And with this little introduction, I was planning to hand over to you, Joakim, who actually knows the number much better than I do yet. I will get into that, but I'm very glad that you're with me today here. Great. Thank you, Magnus. We will get back to you, and you will have a chance to introduce yourself in more detail later on. But three very, very important takeaways from this quarter as we have mentioned here. Diving into the numbers a bit more detailed, starting with the revenue side, going through the numbers, we see that we have a top-line growth of around 5%, which is perhaps not a huge number, but what I would like to point out here is that we see a shift in the revenue mix, where we now have recurring revenues amounting to 80% of our total revenue, up from 69% last year's Q3. So this is a movement much in line with what we're trying to achieve, of course. To look a bit closer to the recurring revenue... Okay, I see that the animations have sort of- They are not going your way? They are not going my way. They have been lost in translation, apparently. But looking a bit closer on the recurring revenue, we see that they are up twenty-three percent in total. Of course, spearheaded in percentage by the SaaS growth of thirty-eight percent. But looking in the absolute terms, we see that both SaaS and support and maintenance grow by 9% here. And we know that Denmark has have a very successful transformation of their agreements, and we see effect of this right here and right now. But we also see the effect of the negative development of the delivery revenue, where parts of the—We, we're now living under the new agreement with Landbrugsstyrelsen in Denmark, and that is, that contract is much more tilted towards maintenance revenue, which is boosting the support and maintenance, of course, but on with somewhat lower numbers coming through from the delivery side of that customer. But also, and, and now the circle's coming. But also likes to point to the fact that, that we are following the plan with private, shifting more and more deliveries out to, to, to partners. And, and focusing on, on supporting partners, partner acquisitions. So we're basically keeping the team we have in place, but they are now working more focused on partner acquisition and supporting partners in their first projects, and getting them to be self-sufficient going forward. So this is a very important movement here we see in the revenue mix, I would say. Okay, now we see them catching up. All right, on the cost side then, we see that the total operating expenses actually decreased by 2% in total. Most of the decreases from the sales expenses, which are down SEK 2.5 million. The other lines, the other cost lines are relatively flat. Looking at the headcount, it's substantially lower, though, than last year's Q4. So of course, we are hit by cost inflations and salary increases as well as everybody else, but in the total cost line is flat, is important here. Other important thing to take away from this is the recorded one-off costs or items affecting comparability, as it says here. SEK 1.5 million coming from the severance pay of our exiting CEO, Christian. So that is affecting the EBIT number, and is of course, a one-off in this quarter. But in total, we see that the strong development of recurring revenue is coupled with the sort of the fixed cost side here, is driving the profitability up, and we... The EBIT is up SEK 5 million compared to last year, Q3. So looking a bit closer at recurring revenue, you've seen these graphs before. The recurring revenue now makes out over 75% of our revenue. In this quarter alone, it was 80%, as I said. But with Q3 being a bit lower than other quarters in delivery revenue, we're expecting that number to come down a bit. So above 75%, I would say. Looking at the rolling twelve numbers of the recurring revenue, we see that we have a growth of 18% year-over-year, quarter-over-quarter. Okay, the animations do not work with me. and our CAGR for a long period is well above 10%, and actually 16% over the last two years. That is a strong growth in the recurring revenue we've seen for quite some time now. Looking at the cost coverage, we see that... Well, any, anytime soon now, they will come. There is the graph. We see a quite big step up here in the coverage percentage, and we're now at 90% coverage of the fixed operating costs. So as you can see here, there has been some positive development from Q1 and onwards here in this. Turning to the ACV, we can conclude that we had a really good sales this quarter, but unfortunately, also some larger churns. In total, we have an ACV number of SEK 8 million, net ACV. That is not taking into the FX exchange in effect, where SaaS was a +9, and support and maintenance actually was a -1. Private had a good quarter, sales-wise, but unfortunately also recorded two larger churns, two American banks having some financial difficulties. So we have churned these contracts, which has quite a big effect on the ACV. Still, they managed to get a +5 million in a net ACV number, while public Sweden had +1, and Denmark came in +2 million. So, the outgoing ARR is up 18% from last year, landing SEK 408 million. And with this, with this quarter, actually a negative from the currency revaluation there, the -5, as you can see in the graph. Just zooming out and zooming in on the SaaS side of things, or with longer time perspective here, we see that we are continuing building up SaaS revenue quite rapidly, here, also in the Q3. The numbers you see here are including the FX effect, so that's why, in Q2, for example, we had a positive effect from the currency, while in Q3 now, we have a negative effect from the currency. But looking at a bigger scale, we see that they are, the ACV numbers coming through nowadays are much larger than historically. And also, just to summarize, we're zooming in on Lasernet, Devant here, we see that we now, for three years, had a CAGR of 57% growth on that Lasernet SaaS business side. That was a run-through of the numbers, and now I'm handing back to you, Magnus, for a bit of introduction of yourself, and yeah, the floor is yours. Thank you very much, Joakim. I have, for now, the luxury of just enjoying the great numbers you were presenting, Joakim, but I also assume that you are interested in a little bit in who I am and then what I've done before. I can put a few points together that I think is valid here. I'm based out of Stockholm. I'm a family man, together with Louise, Ebba, and David, my daughter and son, who are 20 and 22 years old. I have an engineering background, and that's why that's one reason why I genuinely like Formpipe and the cool technology we're doing. I've been working quite a lot within IT telecoms with Ericsson, and I work with biometrics, with a company called Speed Identity. And now, most recently, I was the CEO of PrimeKey, who you all use in Mobilt BankID or if you have an Apple phone. And that was a cybersecurity company that I managed for around five years, where we finally sold it to the Insight Partners company, Keyfactor. And that was a very good exercise, where it is an open source company, where we made a transition from being a sort of a classic open source company to more and more packaging that software into appliances, into the cloud, and then delivering a managed solution. And I think this kind of journey is very relevant for Formpipe as well, even though the development within public sector is slower, yet faster in the private sector. I've also worked extensively with the large ecosystems out there, like Azure, like AWS and Google Cloud, which was very important distribution channels for the PrimeKey software. And if I look a little bit on sort of Formpipe for the first two months I've spent here, which is not a very long time, and it's a lot of things to learn. I must say that, first of all, the team we have here in the company, it is really a great team with extensive experience of our two business areas. It's not. I would say it's, it's not that common to see in the IT industry that a company has been around for sort of more than 20 years, and a lot of the employees has really seen the history and the developments of this market. And I think it's a great asset for us because it's this business is very much about trust, and trust is built among people. So I think that's a great, it's a great asset we have, and it's a great team. Very good spirit in the company. Then if I look a little bit at the two business areas, public sector, I would say public sector is part of the charm of Formpipe, given the stability it provides. Yes, it is a bit slow, it is a bit, it is a bit legacy-oriented, it is a bit, little bit of old technology. However, it's stable revenues, and as a company, we are doing something extremely important for our, our, our clients. And of course, we do contribute to, to important, to the important task of running a state or government. And I just wanted to bring out one example, that we are now, we are now introducing a Meetings Live app, where, where our municipalities and, and other, other governmental entities can, can do all of their meetings and voting online and being, by being so, being more efficient and transparent. And that's sort of one of the opportunities within public sector to continue the journey with more, to, to more efficiency. And then private also visited our team, mostly based out of the UK. And it's really a cool team and a fantastic opportunity. And I had the opportunity to go to Charlotte in North Carolina for a Dynamics show, where you get to meet clients. And it's pretty cool when these people who come to this Dynamics show, they are a little bit like you, Joakim, very much into the figures, into the numbers, and as soon as they get to see the latest Lasernet product, they are immediately says that, "This product does exactly what we want it to do." And it's not that often. Often when you are at exhibition, it's a lot of tire kicking, looking around, but here, when you meet the right people, it's really good match, and we do have a very good position in that, in the Dynamics field. Now, Dynamics is not the only thing. As you know, we have bank and finance. I met our largest partner there, Temenos, and they see a great... they see us as a great contribution to the business because customer communication is getting new for them. So good momentum there, and we also attract more partners like Temenos, Thought Machine and Mambu. So we have a good momentum in the bank and finance business. And then, of course, interesting enough, these-... There is a lot of other ERP ecosystem out there as well, which I believe represents a great opportunity for the private sector. So all in all, private sector, great team also, and very, very interesting opportunity that I genuinely look forward to dive into in more detail the coming months. And with that said, I think we come to the end. No, we have the financial targets, which, I mean, these have been presented before, but again, just reemphasizing the fact that we will sort of continue. We will continue to deliver on these targets, and we don't see any reason to sort of change these targets. So they remain as they are. With that little note, I would say that I'm coming to an end here, and maybe we should then start with the Q&A session. And I think I will start with you. You're the new CEO, it's your first time presenting here. I mean, you, you've touched upon it, but what are your key experiences that you take from your time at PrimeKey? I would say it's, it's of course, as I touched upon, the people and the competence, very important, and then the very, also very fine customer base. We have a lovely installed base where we have a stable, very, very stable and sticky business, which I really look forward to develop further. So probably these two things. Okay. And I mean, why did you decide to join Formpipe specifically? What was interesting? It's a good question. So I have had the luxury of, as we did an exit to Keyfactor, Insight Partners, I've had the luxury to give some thoughts on what I want to do with my life, and I genuinely enjoy doing business, working with people. And with Formpipe, I saw a very good opportunity or a very good baseline, given the customer base, given the technology, and then also where we are in society today, where we want to go with digitalization. I saw that this is an excellent platform to have a good time and to do some business. Okay. Once again, I want to highlight the opportunity to ask questions below the stream. So let's continue to the Dynamics fair that you visited. I mean, what were the highlights from there? The highlights is, to me, I, I've been working quite a bit with the different ecosystems, but around the... What I think is very cool with, with the Dynamics ecosystem, which was very well represented in Charlotte, is sort of its 300 ISVs, or independent software vendors, that is actually doing the Dynamics ERP system much better. And it's very niche players, they do a great job, and it's, it's really a way to facilitate innovation and drive innovation. And it gives companies like, like us, an, a great market, but also a great platform to really deliver a sharp product and reach out to the customer base. And it also attracts very, very competent buyers and competent people. So it is a great ecosystem, so a very positive feeling, leaving from that. Okay. The ERP market has been a bit slower, perhaps, in recent quarters. What's your take on the outlook? Yes. If I look at the two slower quarters, my hunch is that sort of financial uncertainties has extended sales cycles. I've seen that in other companies where I'm active, that sales cycles tend to be, may be extended. Now, if we look into our ERP system, into our CRM system, then we see a higher activity in Q3. So my hunch now is that we are getting the momentum back. Now, it's a little bit early to say how it will end up in the books. However, when we look at this in the CRM, more activity. Hmm, interesting. Okay. So let's move on to the delivery organization in Sweden. You have changed your model- Yeah. going from using partners to using an in-house organization. What's the outcomes so far? Are, are you happy with the transition and what's left? Yes. I think it's a great transition that has been started within Formpipe, and it is about us delivering more of the consulting services closely related to our application. And I believe it's a great transition because it's good for our customers. They get consultants who have a very tight connection to us, who owns the IP, which is really good if you want to deliver good high-quality professional services. It's good for our clients because we can improve the pace in which we develop the product. So the products are getting better and better, thanks to the different development efforts that our consultants are doing for our clients. And that is, of course, good for our ecosystems and our partners who are also delivering consulting, because they get a better product to do consulting around. So, it's. I see it as a good way to improve our ecosystem around our products, which are actually have a very good large installed base in Swedish and Danish public sector. Yeah. Okay, just to clarify, as far as I understand, all partner agreements has been terminated, although you use them as sub-consultants- Yes. -currently? Yes. Yeah. That's, that's, correct, and this is also sort of the way we want this to pan out. We want to continue to be a very good partner for our partners so that our product is put into a context which is then, of course, absolutely necessary for our clients. Okay. So once again, I want to highlight the opportunity to ask questions below the stream. So, so let's move on to deliveries in, in Denmark. You are in a transition where Landbrugsstyrelsen are moving some revenue from deliveries to support and maintenance. However, there was a quite significant decline relative to last quarter and also last year. I mean, is this a level we should expect going forward, or is there anything other that happened in the, in the quarter? No, it's a very good question, and we have... What we have done here is that we renegotiated the contract, and that means that parts of the revenues, as Joakim said, moved up to support and maintenance, and it forms a new baseline with sort of the basic functionality which we are supposed to deliver. But then, as we all know, the world changes, new requirements come, and of course, we will support our clients in developing those, which will mean increased consulting revenues and also increased support revenues because that code needs to be supported. So we should expect to see at least a bit more professional services and increased revenues from Denmark the coming years. Okay. So let's continue to the banking side of your private segment. I mean, as you mentioned, 4 new customers, which is a record high. Yeah. But at the same time, you lose two customers due to financial trouble. But, I mean, how should we interpret it, those numbers? What's your view of the market and your offering? Yeah. One, our offering is very strong, as I said, to around the Dynamics market. As soon as you get a competent buyer in front of the product, they immediately say, "This is what we want." So we are in a very good position there. When it comes to bank and finance, I would like a positive take and look at the four we win. I mean, clients, there is things happening in the market, and sometimes you lose a client, to... Well, they have financial problems. You can't do too much about it. And now, now we have two of those in this quarter. I would look at the four we win because that's sets the trend for us going forward. The trend is positive. I see. Okay, and also, I want to ask about the ACV for support and maintenance in Denmark. It was slightly negative. Why is that? I think I'll pass that one over to you, Joakim. Yeah, I think you find the negative on the support and maintenance, as you say. Well, what's happened there is that there have been renewals of those contracts with those customers, and they have renewed to a subscription contract instead of support and maintenance. There is actually, and since we are so detailed in our ACV reporting, we have two different lines for this. So it's actually a contraction then on the support and maintenance and an expansion on the sales line. So we haven't lost those customers. They're actually renewed at a higher price point as well. Okay. Interesting. Last chance to ask any questions from the web. And I mean, you, you're still quite new to Formpipe. Yes. I mean, it's not that far until we are at 2025. I mean, any thoughts so far? I mean, what could possibly be the next step? It's a good question, and it's a little bit early to raise that question. But I... What can I say? I'm very impressed by the customer relations we have, the installed base, the partners we have in the ecosystem. And I do believe that at least one thing, more people out of our relevant customer base needs to know about us, and I think we should work much more on that because there is potential. When we get in front of a customer, we really kick ass, you know. We do a really great job in winning the business. So at least, that's at least one thing. We need to be better known out in primarily private sector, but potentially also in the public sector. We can do more. Okay, thank you very much. Thank you. Thank you. Great being here. Fantastic. Thanks to everyone listening.