Hello, and welcome to today's webcast with Freemelt, where CEO Daniel Gidlund and CFO Martin Granlund will present the third quarter of 2023. After the presentation, there will be a Q&A. So if you have any questions, you can send them in via the form to the right. And with that said, I hand over the word to you, Daniel. Thank you, Ludwig. So hi, and welcome to our first, the Live Freemelt Webcast. So I'm Daniel Gidlund. I'm the CEO of Freemelt, and with me today, I have Martin Granlund, our CFO. We will share the highlights and also the key points from Q3. As Ludwig said, in the end of the session, there will be possibility to ask question as well. This is the first webcast. I just wanted to give you a brief introduction to Freemelt as well. So Freemelt was founded in 2017 by former Arcam employees. We are today roughly 40 employees, spread on a few sites. So in Sweden, we are present in the U.S. as well. What we do is that we develop, and we sell, 3D printers, especially for industrial applications and for research applications. And the 3D printing, I mean, that's the also name, that's additive manufacturing, which is really about a more sustainable and more innovative type of manufacturing. And we are in the space of metal 3D printing. The first machine was launched in 2019, which was for the research area. And since then, it's been quite a successful journey. So we sold 22 machines since then. And that's really taken us to the number two position as well within this category as well within 3D printing. So, really good start for this company. Now, we have also then defined a 2030 strategy, so we would like to continue this successful start and even ramp up the company and also expand the new type of offering as well, which is more of the industrial side. Which should take us to become a EUR 100 million company by 2030. Let's go to the next slide, Martin. So after a slow start of 2023 sales-wise, we got two new orders in Q3. One from a Turkish university, and the other one is from a Hungarian institute when it comes to nuclear research, ATOMKI. And we also did complete the project when it comes to material study for UKAEA. So I think this has been a very interesting project for Freemelt. It's related to renewable energy, so fusion, and our task was really to demonstrate the capabilities, how to produce tungsten parts for fusion reactors. We completed this with a very good result. What we also done in Q3 is that we continue our commercial activity and presence, and we have established an indirect sales channel for India, which means that we also now have some eyes and ears in India when it comes to our products as well. Activity-wise, I think it's very, we have a high commercial activity at the moment. So just after Q3 was closed, we also then finally we could announce as well, after a few years of close collaboration with industrial partners, that we had a breakthrough agreement as well with this in this case leading technology company for and in this specific case then tungsten applications. So t ungsten is really an area that we have a strong position as a company now. I would say we have a leading position in tungsten. Tungsten is a very tough material to machine, sorry. And this is where eMELT will have a very good possibility to take a very strong position as well. So we're really happy to get this in place. What we also announced, and one of our strategies as well, is to work closely with our customers. One of our Freemelt ONE customers, a research customer, a prestigious university in the U.S. called Texas A&M, we have also then extended our collaboration with them in regards to industrialize additive manufacturing in U.S. In the U.S., at this moment, there is a huge focus on industrializing additive manufacturing. There is, for instance, a program called America Makes, which focus really to take back and to really have a new type of manufacturing metals, so indirectly through additive manufacturing. To work closely with our customers here, and in this case, Texas A&M, is really important for us as well. So we're really happy about this agreement as well. And then last but not least, I'm currently in Frankfurt at the biggest exhibition in the world from additive manufacturing. And here as well, we launched our new eMELT model iD, which is the industrial and then for application development purpose. So this will definitely strengthen our position as well now, when we're stepping into the industrial space as well. So we have already our mass production machine, the iM, which is industrial and manufacturing. So this is a great complement, and I will say we have a unique offering now as well in this space. As I mentioned, I'm currently now in Frankfurt, and this is the most important trade show, I would say, if you're in additive manufacturing. This year it is really pleasing to see. Actually, this year it's the most exhibitors ever, and also the most visitors as well. So you can really see now that the focus is going back on additive manufacturing. It's roughly 800 exhibitors here, and more than 30,000 visitors as well over Tuesday to Friday. We, as I mentioned, we launched our iD. I think we have got a lot of excitement and traction as a company as such. But really, when it comes to our industrial offering and eMELT, which is a totally new and unique concept within metal manufacturing and within powder bed solutions as well. So starting very intensive and very exciting days as well. So, as I mentioned initially, I mean, we launched our first machine in 2019, and just within that short period of time, we have had a really good sales penetration through really prestigious universities and institutes across the world. You can see on the map as well, it's fairly equal spread between Europe and U.S. I mean, U.S., we are ramping up quickly. As I said before, there is a huge focus on both research, but also from an industrialization in the U.S., so they are catching up quickly. So all in all, we have 22 machines operating at customers as we speak. Over to you, Martin. Thanks, Daniel. So let's have a look at some of the figures from Q3, some of the highlights. As you probably know, if you've read our previous reports, the machines we sell have long sales cycles, which makes sales prediction difficult. Some quarters, there can be several orders, and other quarters, as we experienced in Q1, 2023, there was no orders, basically. But since sales has recovered up to Q2 and even more than in Q3, 2023. So sales is moving in the right direction. The inventory side, which is the bars you see on this slide, is the inventory buildup limited. We have machines in stock, which are to be delivered to customers ordering our Freemelt ONE machines. We also published for the first time order book numbers, and it's about SEK 5.2 million in order book volume, which includes the non-invoiced part of what we've sold. So what we typically do is we invoice part of the sale at a purchase order, and then a final invoice after installation. Order book volume has gone down a little bit from Q1. Q4 was an extremely strong quarter, so it's dropped a bit. Now, it's flattening out between Q2 and Q3. Then on the cash flow side and operating result. So, operating result follows sales trend-wise. We had a poor Q1 after a very good Q4, and we are recovering from that as sales grows. We posted positive operating cash flow in two out of the four last quarters. So this is the black line you see. And also, as you may know, we have an intensive investment period, which we are in the middle of. So, on the investment side, we are burning a bit of cash to further develop the industrial machines and the one that Daniel just spoke about. So the green line, we have an increased cash burn due to investments in the upcoming industrial product, which is to be sold for the years forward. So the operating result, you perhaps you know, but, it includes, non-cash items, which are quite, substantial. So we activate, costs in our, income statement, and we also have quite a, a bit of depreciation, including goodwill. So there are disturbing items of between SEK 7 million to SEK 13 million per quarter. It's good to bear in mind. Then on the balance sheet side, Freemelt does not have any, external debt financing, so there's a 95% solidity. We raised SEK 66 million in Q1 2023, so, that's why the green line, the cash flow, jumped in Q1. And, we had, SEK 47 million cash in the bank as we exited the third quarter, down from, approximately SEK 60 million in the second quarter. And this is again, then, a big part of this is investment into the launch of the new eMELT machine. I'll hand it over to you again, Daniel. Okay. We are, I realize we are very efficient as well, in this. So just to wrap up on Q3, I think it, yeah, once again, commercial activities has been gradually been increasing. I think they are very intensified at this moment, and I think it's also pleasing then to see the results as well in Q3 with a couple of new orders. If we just look from a quarter to quarter, so on year-on-year basis, it increased by 2%, this year versus last year. But as Martin said as well, I mean, it's quite difficult to forecast because it's really long cycles, and most of the times, it's also public organizations, universities that we work with, which is also difficult to predict exactly when purchase orders will come as well. What's also, I think, very, you know, pleasing, and we're really happy about this, that we also have defined and also launched a 2030 strategy. So we have a bit of a more clear view what we would like to accomplish and who we would like to be by 2030, and of course, how to get there as well. We had the first breakthrough agreement for our so important industrial offering, eMELT, when it comes to the mass production machine, which we now, of course, I mean, continue to really work really strongly on and focus on to, of course, also get in further of these type of contracts moving forward, both for the development machine that we just launched, which is a key enabler, I would say, as well, for the mass production machine. So where you really can start also from a more small-scale production. So first, you develop your material process. Secondly, you develop your application, so the kind of part that you would like to commercialize, like, I'm not sure if you can see, but like an implant, for instance, this is an application. When that application is developed, and you can see it's really get the traction in the market, then you ramp up to your mass production machine and really get down your total cost of ownership and then to maximize your productivity. As a next milestone, for us as a company, we will continue our commercial expansion, both geographically but also activity-wise as well. And of course, when it comes to to sell to university and institutes, it's a very transactional activity. But when you go to the industrial side, then it's a totally different way of working. Here, it becomes much more of knowledge about the end customer's application. Here, you need to work much more from an account management point of view. Here, it's much more about value selling as well. But in the end, it's also, instead of just selling one system per institute, which is for the research, here, it's of course also another type of volume, when an industrial customer is investing, they're investing in a production line and in a factory, so it's much bigger volumes. And secondly, it's also connected to a very important recurring business from aftermarket as well, which the research area does not have, really. And then last but not least, I think, as I said, we continue our commercial activities, and I'm very happy, as you might have seen this morning as well, that we also got a new agreement with a very large industrial company called IHI and the European branch. They added the second Freemelt ONE, and their target is really to develop or first, I mean, the material for titanium aluminide, and the end application is very interesting, and that's aero-engine that they are aiming for. So this just, I think, just proves once again, I mean, industrial customer puts really high demand and sense of urgency to quickly develop first the material, to then qualify the application so they can then commercialize their products. It proves that the machines are delivering what is expected, but also that we can provide a good service to industrial demand as well with Freemelt ONE. On the right side here on the screen, you can also see some of the key focus areas when it comes to our commercialization focus as well, connected to 2030. So we, as I said, we continue that focus now as well over the next quarters and years forward. So with that said, we would like to open up for potential questions. Thank you so much for the presentation here. I think we're going to pick up where you ended the presentation here with the new order that you communicated out this morning. Could you provide some color on today's order? It seems that IHI Group, so it potentially could be a customer for industrial printer. Do you think this could be the case? That's a very good question. Yes, so IHI, so what they are doing first now, they are trying to develop the material process for this application. And of course, I mean, the intention that they are trying to get in place is to manufacture products for this application through additive manufacturing. So that's really what they would like to first confirm and then, of course, also hopefully then move forward to implement that manufacturing technology. And of course, with a good relationship we have with IHI, I really trust and hope that we have a good opportunity to deliver E-Melt to them as well, if that would happen. Thanks. Regarding splitting up the order value over two years, is this solely related to the payment terms, or are you still going to recognize revenues in conjunction with the shipment now in Q4? Martin, do you want to answer that? Yes, it's the revenue will be realized over the term of the contract. It's still our machine. So, it will be spread over the rental term. Thanks. Is the decision to split the payment plan a one-time occurrence, or is it part of a new sales strategy to increase the traction of the printer? I think, of course, when it comes to different kind of business models, so far, we have just had a CapEx model, which is to have pure sales. But, of course, we're trying to also be, let's say, agile and creative when it comes to business models as well. So, this is a new type of business model that we definitely can offer other customers as well. It can be pure lease contracts, it can be rent contracts, and so that's for sure, a new type of opportunity that we're exploring for other potential customers as well, if needed. Thanks. During the quarter, you established an indirect sales channel agreement, regarding sales in India. How do you assess the potential in India? I will be very transparent. I mean, India is not really an area that we have explored in detail. So I think this is also the reason why we now have activated an indirect channel there to really explore the potential opportunities. And this is also why we do it through a partner as well and not investing on our own resource. So at this moment, I can't really answer that question clearly, but we can come back on that one, of course. Yes. You have a wide range of interests in all different sectors. Are all sectors equally hot, or do you prioritize any particular sector, so to speak? Yeah. Now, as I mentioned before, I mean, we've continued to focus. We have defined three different kind of materials that can be applied for different kind of applications. What we have really intensified our focus in, which I think is it, it's so great now to be here in Frankfurt and to really get the confirmation. We focus on tungsten, and tungsten is again, it's a very tough material that has not really been used so much in the past because it's so tough to machine as well. So we really try to yeah, increase our focus and strengthen our position in that space. So, when it comes to tungsten, for instance, it can be used in med tech applications, for instance, when it comes to X-ray equipment, because it's good, then from a radiation perspective. You have in semiconductor, you have in defense, you have what other kind of applications? Yeah, I think those are energy, I'm sorry. I mean, I think the one of the key focus areas at this moment that we sense here at the forum as well is energy. And when I talk about energy for tungsten, it's mainly for fusion reactors. So, once again, the product we did for UKA, I think is, it's a good representative. But tungsten for sure, and then titanium is the other area that we also have really achieved a lot of good results, and that's also why we continue to really focus. And that's mainly in the medical sector, orthopedic implants, but also as you could see as well for IHI, which is more of a super alloy from titanium aluminide. But that's of course also something where our technology is highly beneficial and which of course we continue to focus on as well. Thanks. A question regarding you now at the fair in Frankfurt. If I'm correct you, earlier, you were in the Formnext fair in Austin, Texas. We received a lot of interest. How long is your sales cycle regarding, because you are at fairs, you see a lot of interest. How long are the sales cycles from, example, a good interest at a fair to materialize this in business? It's really depending on the type of customer, I would say. If you go to research, as Martin mentioned before, it's fairly long sales cycles. So typically, a university or an institute, they need to first apply for a project and then apply to a product then relevant for this technology that we work with, so Electron Powder Bed Fusion for instance. Then they need to apply for a budget. So that can take from, I would say, anything from six months up to maybe a year. But in some cases, of course, I mean, what we can see here as well, universities, they do have a budget in place. There's- they haven't really decided yet on the technology. So then, of course, I mean, the sales cycle is shorter. So I understand where the question is coming from, and of course, I mean, we're really trying as well to capitalize on being present here as well and hopefully get some sort of let's say unexpected sales during the year above. If you go to the industry and the industrial side, then of course it's a bit different. So with that said, if I then move into eMELT, for instance, which might be a slightly then bigger investment, here, I will say that depending if the customer is a already existing additive manufacturing user of this specific technology, then I think the sales cycle is fairly short, and the decision is fairly short. But of course, if you are gonna step into additive manufacturing, then I would say as well, it's quite a lengthy process, then as well. Then you need to set up your factory based on this new way of manufacturing. So yeah, it's really depending on, I would say then. Thanks. Have you noticed a weaker economy in the world? Has the willingness to invest in your product decreased or? I think we are fortunate in that way, as we are locked in. I mean, currently, we just have the Freemelt ONE machine available, and that we have been selling. U.S., if I take U.S., for instance, I mean, there is a huge focus currently in research, and especially those areas that we have also then decided to focus on. So if I go back again, I mean, there is a huge focus now on being less dependent on energy or being more self-sufficient from an energy perspective, I would say. So energy is extremely hot at the moment, and it's a lot of investments being done privately, but also through the different governments as well. So that's really beneficial for us. So there, we don't see any kind of slowdown. I would say also, if you go to semiconductor, that can also be one of the applications suitable for our machines and also for Tungsten. Again, it's a huge focus on, especially, in the U.S., but I would say in the Western world as such as well. And then we have copper, which is also something connected to electro mobility, which we also did it the transition, the electrifications for it. It's also still a lot of focus. So, with that said, we haven't seen anything at this point that is slowing down the potential at this moment. Then the decisions, as I said before, I mean, the challenges when it comes to working with public organizations is that sometimes a sense of urgency to really place the order, I think that's the biggest challenge for us so far. Thanks. Moving on to the last question here. What milestones should investors keep an eye on in the coming quarters? Also, a very good question. I think, of course, I mean, now we exposed in the, the, order backlog as well. I think it's, it's really our commercial activity, and we continue to build our pipeline and continue, of course, I mean, to, to, make Freemelt as a, a more known brand. So it's definitely, I would say, our, commercial activity in the market that is the, the key focus here to keep track on. Thanks so much for the presentation today and answering our questions, and good luck going forward, and thank all the viewers for tuning in. Thank you all.