Good morning, everyone, and welcome to our Q1 update. My name is Nils. Been working at Lime since 2006 and had the role as CEO since two years back now. Hi, I'm Maria. I joined Lime in November of last year, so it's soon been here for six months. Great. Let's get started and get an overview on what we do at Lime. Before we start, please feel free to write any questions in the chat, and we will answer them end of the session. Thank you, Maria, for reminding us about that. Let's give you an overview about Lime as a company. As I said before, we've always been running Lime with a very long-term perspective, and that has left us with a fantastic footprint, as you can see. In more now than 20 years, we have grown in average 90% per year and an EBITDA margin of 25% in average per year. I think that's something to be really, really proud about. No matter how we looked, how big we've been, how our numbers turned out, our goal more or less has always been the same and keeps being. That is to help companies to become really, really strong in sales and customer care, so they can help their customers in a good way. We do that by delivering really, really strong software, combining that with great expertise. We have now scaled our business, and we have done this for many years. Today we are in six markets, 10 offices, and the last markets that we opened up was Netherlands in 2020. We entered Germany in 2021 with also the acquisition of Userlike. Now in 2022, we started our engineering hub in Kraków, Poland. Today we are around 400 employees. Looking at the users and customers, we today help more than 80,000 users, more or less on a daily basis. More or less, we have a big impact on the business society and the life of many, many end customers. I would argue that customer care has always been important, but we can see that in a world where services and products are becoming more and more alike, and there is also a price pressure that are increasing, I would say great customer service is a really great way to stand out and a competitive tool. I think one of the most common questions that I get nowadays is about the market situation. If we look back, we've been through a couple of tough times before in our history. We had the IT crisis in 2000, the financial crisis in 2008, the COVID entered in 2020, and it's also been a quite tough year in 2022. If we look in all these crises, we have continued to perform long-term profitable growth. Looking at those crises, we have continued in the same pattern. I think that's something that I feel really proud about. For me, it's a lot about mindset. We have always tried to use tougher times to build a stronger Lime because we focus on the long term. We are ready for the market more or less when the market gets better and open ups again. Before we dig into the numbers, let me give you a little bit of overview of Q1. We started the year in a really good way, I would say. I'm really happy about that. We continue to combine strong growth with great profitability in a quite turbulent market and deliver a growth of 22%, an EBITDA margin of 26%, and an ARR development of 14%. If we look a bit, if and zoom out a bit, I would say the market in general, we see a growing market, which is good, of course, because we get the underlying pressure there. But also the trend of digitalization, of course, helps out. Also the need for companies to find a more efficient way to always try to be better and improve their customer relation and create better customer value. We handle many business critical processes today. We talked about that in Q4, and therefore, it feels really, really nice that we, during this quarter, launched the new add-on, Lime CPQ. That will help our customers to improve their quotation processes. I think the timing for this release is really, really great because we know that in tougher times, companies need to improve and strengthen their sales organizations. By making it easier to send better and more accurate quotations, we can definitely free time for the sales reps and making it possible for them to spend more time facing the customer. We see a little bit longer sales processes in Q1, but I still see that we have growth in our order intake, and we win many deals within our industry verticals. Of course, winning deals within the verticals is exactly in line with our strategy. As always, as in a challenging market, we need to work even harder in the sales process, doing more activities and performing those activities in a better way and stay really, really close to our existing customers as well. Looking at the long-term profitable growth, we continue to deliver strong numbers and combining what we always have done, and that's in our DNA. Good, strong growth and good profitability. In Q1, we deliver the best results in many years and quarters, I would say, in our home market. Sweden is growing by 21%, and if we compare that to Q1 in 2022, we grow 8%. We also see a great performance in our consultancy business, Expert Services. When we combine these two revenue streams, good growth in our subscriptions, and good growth in Expert Services, that builds up a really strong organic growth. Looking at the organization, we are really glad to say that we onboarded 26 new employees in Q1. We are today a very attractive employer, and we can see that in the market. At the moment, we have a good candidate pipeline, and we can also see that our employee churn is decreasing. Today, it's rolling 12 months, 6%. Our goal here is to continue to hire. As always, it's a balance. We need to keep our ear to the ground, of course, and ensure that demand drives intake during the year. Looking at the agenda, we look into the order intake, revenue. Maria will talk about the profit, we sum it up with financial targets and also some Q&A at the end. Start looking at the order intake. This is something that we communicate every quarter, we can see that the customer concentration is still low and continues to decrease. The top 10 customers today stands for 6.5% of our revenue, the biggest customer stands for 1.2%. This is, I would say, especially good in tougher market conditions because it means that we're not depending on one or two customers. We are doing deals with many customers all the time and have a very low risk in our customer portfolio. This quarter, we continue more or less in the same pattern as we did in Q4 and close many deals inside our verticals, but also closing with new customers and improving existing customer solutions. Looking on the right-hand side, I think that we are happy to welcome a couple of new customers in our wholesale industry, really strong brands with Hydroscand, SE, Toppoint in Netherlands, and Arvid Nordquist. Looking at the utility side, I think that we have performed really, really good the last couple of years now, and we still see that we have good traction in that vertical. One of the customers that we can welcome this quarter is Trollhättan Energi. If we look at the real estate vertical, I think we have built up a quite good pipeline throughout Q1. One of the customers that we will lift up today is Best job. Looking at the revenue, we start with the ARR development. As you can see, we have a still good pace in our subscription, 18%. We continue to decrease a little bit on the old service agreement, which is according to plan. Looking at the total, we have an ARR development of 14% in Q1. Looking at our different revenue streams, we can see the development on the slide on the left-hand side, the development since 2016. We started a transformation in 2015 from upfront to subscription, we can see that subscription is steadily growing. As I said, 18% in Q1. If we look at the last 12 months, we are growing 21%. Today, it stands for 54% of our revenue. The service agreements is today 7% of the total, we continue the transformation. I would say that we have had a quite good pace in Q1. If we look at the upfront, more or less the same as before, stands for less than 1% today. As we mentioned before, expert services continues to perform well. Today, it stands for 38% of our revenue, and it will continue to grow, but in the long run, decrease as a part of the total net sales. Looking at the revenue, we see that we have a growth of 22%, which I mentioned in Q1. The last 12 months, we have 21%. Looking at the split between the segments, I mentioned it before there that Sweden performs really well in Q1 with 21% growth, which is a strong number, and the rest of Europe, 23% in Q1. Looking at the more or less, the last 12 months, we can see Sweden 17% and the rest of Europe 30%. We want rest of Europe to continue to grow faster. The 30% is, we want to see that going forward as well. Because we want to build a more international company going forward. I would say focus on the markets outside of Sweden will be an important area going forward for us. Yes, looking into profits. EBITDA in the first quarter reached 26%, which is in line with the same quarter as the year before. Looking at the latest 12 months, Q1 2023 is at 25.5% compared to 26.3%. The reasoning is that the latest 12 months for Q1 2022 is still affected by the pandemic, with lower travel expenses, physical sales activities, and employee activities. On the right-hand side, we have the latest 12 months EBITDA development. As you can see, we have reached a higher EBITDA margin of around 29% during the pandemic. Now we are back to a more normal and lasting level to support our future growth. Investing in sales, marketing, staff, our products and so forth. The last 12 months in Q1 2023, we have reached an EBITDA of 26% as we are now able to invest more in future growth. Since we have a good growth in our revenues, we have a positive underlying pressure on the EBITDA margin. As we have already communicated, we will continue to prioritize long-term growth over short-term profitability. Looking at the next slide on the OpEx development, on the left-hand side, we have our personnel expenses. That is the largest expense in our profit and loss. Looking at the personnel expenses in relation to the net sales, latest 12 months in Q1 2023 is at 57% compared with 55% in Q1 2022. The increase in our personnel expenses is explained by that we have invested more in employee activities, staffing, and compensation and benefits. The investment in our employees is contributing to a lower churn and better pace, especially in expert services compared with previous year. On the right-hand side, we have our operating expenses. As you can see, our operating expenses increased by 17% in the quarter and 26% last twelve months. The increase during the last twelve months is due to that we have invested more in future growth by marketing physical sales events and product development than we could during 2021 due to the pandemic. Great. Thanks a lot, Maria. Let's look at our financial targets. As you know, we have an objective to have a growth that should be above 18%. Last 12 months, Q1, we are at 21%. We have the EBITDA target of being above 25%, and we end up at the last 12 months, 26%. Capital structure, the net debt in relation to EBITDA should be less than 2.5, and we are at 0.8 today. Looking at the dividend, the dividend should be at least 50% of the net profit. The board of directors has proposed a dividend corresponding to 55% of the net profit in 2022. Let's head over here for some Q&A. Do we have any questions in the chat? Yes, we have. First question, you have talked about longer sales processes previous quarters. Have this changed for the worse, better or unchanged? I think in general, we can see more or less the same pattern as before. I think in some senses, in some markets it has been improved, and in some has been a little bit worse. If we would talk on a high level in general, I would say more or less on the same as previous period. Yeah. Next question. Is there any temporary boost in Expert Service segment? Any one-off orders? No. No one-off orders in expert services. I would say that we have continuously had quite good growth in expert services throughout 2022. We have done a lot of improvements when it come to how we work within expert services, the amount of people that we have onboarded throughout 2022. I think that's a gradually improvement throughout the year. It continues also here in Q1. Yeah. What kind of visibility do you have in expert services now? What we know and what we talked about before and what we measured for a very long time is that, okay, how much expert services do we sell to a new customer versus existing customers? That balance has always been to more or less existing customers. It's been between 60%-70% per month, and you say 30%-40%. That ratio has been more or less the same over a very long time period. I think that's something that we look into. It's also when it's a little bit tougher market in one sense, you need to be on your toes all the time to try to be a little bit more proactive when it comes to filling up all the consultants. We learned a lot from the COVID situation when we saw a big drop in new sales. We had to be much more proactive in our expert services department. If we look at the gradually improvement that we've seen in 2022 in the new sales, of course, we haven't needed to be as proactive as before, but I think we have that now, that knowledge that we all the time need to be on our toes to fill up Expert Services 'cause we cannot sit and wait for the orders to just fall down at us. Yeah. What ES demand level do you currently see now? No, I think that we are, I mean, in Q1, we have had really strong demand in expert services. It's really hard to say. I mean, since the market is a little bit turbulent, then we can see the effect of also a bit longer sales processes. What the future has to offer, it's really hard to say three or five months ahead. I mean, we look into this on a weekly level. We measure the pace on a daily basis, more or less. This is something that we need to work with all the time, every day. It's hard to say, "Okay, we fill up and staff our expect services department six months ahead." That's not how we have never been working, more or less. On the growth in Q1 2023, how much is driven by new customers, and how much is driven by existing ones? It's more or less the same balance as before. You have a around 50/50, you can say. Yeah. Good. What level of recruitment in% do you expect this year and in 2024? What do you expect in terms of wage inflation? I mean, I think, if we look on the start with the recruitment side, I think, we will continue to recruit. As I said, we onboarded 26 new now in January, we continue to recruit throughout the coming period to fill up our trainee program in August. How many will, of course, be determined about the demand in the market. Also, as I mentioned, we see that we have a decreasing trend here in a declining trend in our employee churn, which I think is very, very positive. That's something that we've been working with, we come from, Q1 2022, where we had an employee churn of, I think it was rolling 12 months at that time, 12%. The different areas that we tried to improve throughout 2022 has paid off. I also think it's an effect of how that it's a little bit more turbulent market. We've seen that in other market situations than that the decrease in employee churn goes down. It's a balance here to always try to look into, okay, where do we wanna be in 2024? How many do we need to recruit? At the same time, give everybody a good chance to fill up their time and be out visiting our customers. I don't have an exact percentage that I say that, "Okay, this is the amount I will." This is more or less changing all the time, depending on the situation. I still meet everyone in the recruitment process, so, we have a quite good possibility to both increase the amount of candidates coming in as long as we work with a good pipeline in general, but also to slow down the pace of the amount of recruitments that we will do. How large can you be? What is the end goal or long-term goal? How is this backed up with M&A in Europe? I mean, our long-term goal is to become a more international company. One thing that I wished for is that we should have at least more than 50% of our revenue coming from the markets outside of Sweden. We have our financial targets, which of course then you can calculate going forward how big we can be. I think that we have a track record of growing in this pace for many years. At the same time, we have the possibility to add M&A on top. At the moment, I think the M&A market has harmonized a bit with the valuations and so on. I don't really see a stress doing an acquisition at the moment 'cause I think that we really believe in organic growth, and I think that we have possibilities to do better organic growth outside of Sweden without only doing M&A. Of course, if we find a great opportunity, then we are ready to strike more or less 'cause we have a good cash flow in general. We have a strong financial situation, low net debt. In those circumstances, we can do an M&A. At the moment, I feel that we have plenty to do in our new markets. Netherlands, Germany is a fantastic potential also to grow Userlike more going forward. I believe that we have strong possibilities to be to double the size of Lime going forward. Sounds great. How will you protect your margins in your normal business and when you are growing? I think it's on a daily basis that everyone needs to take responsibility for not only owning the growth, but also take a responsibility from a profit side. We know that how hard you have to work for bringing in new revenue, then you also need to have respect when you are spending money. So it's a balance all the time to invest in things that you really believe that can create growth going forward. If we do the growth, we have a great business model with subscription that creates an underlying pressure. If we do that in a good way, we can continue to invest in activities and employees and so on. We can continue to be an attractive employer, but at the same time, be also a very competitive company in the markets. How much cost pressure do you have in wage inflation? I think we had an increase in general around in between 4% and 5% in 2023. That was in line what we had thought of when we went into the year. Of course, you feel a little bit that you are pressured in some sense from the market in general when it comes to our offices and so on. I mean, everything costs more today than it did 12 months ago. Of course, that gives a little bit negative effect on the profit side. At the same time, I think that as long as we continue to grow, we took a decision to not do many like one-off price increases, which maybe would have been possible due to many other companies did it. Instead, we picked the long-term path here to get an increase in our subscription revenues yearly with maybe a little bit lower amount in 2023. That was a decision that we took 'cause we mainly think that that would have cost us more and maybe lost the pace that we had in new sales in 2022. You mentioned 26 new employees. Is this figure net of churn? If not, how many employees net? Reaching how many employees previously? Personal expenses increase is driven by recruitment or inflation in wages. I think in net, in December, we were 399, and now we are 400. We have gained 26 new employees, and then we also have some churn in our figures. Any interesting acquisition candidates? No. I mean, we are working with M&A pipeline all the time. In that sense, we are meeting a lot of companies. At the moment, we don't really have any, like, hot deals going on. How much room is it to make M&A in your balance sheet? I think you answered that a bit previously. Yeah. We are ready to make an M&A if the right target fits our profile. Exactly. Exactly. Any new challenges you see in the EU market compared to the market in Sweden, and how do you face them? No. I mean, I wouldn't say that there are any new challenges. I mean, what we've seen in Germany, the last quarters, I think that in Q1, we see a little bit better traction in Userlike compared to previous quarters, which I'm very happy about. If we look from the Lime CRM perspective, which we also sell in Germany, I think that we are at I don't know if it's a trend, it's maybe too early to say, but in general, there are bigger deals in Germany, which also takes a little bit longer time. Since it involves more employees from the customer side, and it's also a bigger investment. I mean, we've not been there for so long, so I wouldn't say 100% if that's the fact, but that's how it's been now for the first year, more or less. Will you focus on markets outside Sweden? Outside Sweden, Germany and Netherlands this year, or is there any other geography that you are looking as part of the 50% revenue outside Sweden long-term goal? As for now, I think that we have plenty to do. We have a big market, and we have so much to do in all our existing markets. I mean, I think that we've started to get quite good size in Norway and so on. I mean, still we have many deals to close in that area as well, even if we've been there for many years. That's the same feeling that we have Denmark, we have Netherlands and Germany, also quite new started from a Lime Go perspective, which means that my main focus is now to strengthen those markets. I think more or less, if we open up a new office outside of those, we'll come through an M&A, if that company maybe has an office, in another area. We can take that decision and say, "Okay, should we launch Lime or not in that country?" For now, I think, keep focus, continue to focus on organic growth and to build a stronger business in those countries that we are actually already or established in. Perfect. Thank you, Nils. That was the last question. Thanks. Thanks a lot for great questions. If you have anything other on your mind, don't hesitate to reach out to me, Maria, or Jenny. You can just give us a call. Thanks a lot for today. Thank you. Bye-bye.