Yes, I think we're live. Yep. Good morning, everyone. Good afternoon, depending on where you are. Welcome to Linkfire's first earnings call. Today, we are going to present highlights from our Q2 2021 report, which was published earlier this morning. First up, a quick obligatory disclaimer. Please pay special attention to this slide, as it is relevant to the statements presented on today's call. Yes, technical. Let's see. There we go. There we go. It's our first earnings call. We have to figure out the technicalities. Anyway, presenting today, I'm Lars, the Co-founder and CEO of Linkfire, and with me I have Tobias, our CFO. Today's agenda, I'm going to do a quick recap of what Linkfire is. We're going to move on to the business and financial highlights for Q2. We'll head into a general business update. Of course, lastly, a Q&A. We expect the presentation to take approximately 20 minutes, followed by the Q&A. Please feel free to enter questions in the chat, enter your questions, give your questions to the operator throughout the presentation. Let's kick it off. Let's do it. Linkfire at a glance. Basically, we thought it would be a good idea with a quick recap of Linkfire and also a quick introduction to new investors. Essentially, we operate in the music and entertainment space, and we are in the business of connecting consumers to music. We do this by creating links or small micro websites that helps consumers find music products across different categories like songs, albums, tickets, merchandise, anything really that an artist can sell, and we help them find that across different streaming services and shops. We've created a global market-leading platform for labels and artists, where they can go in and create any of these links whenever they are promoting any of the products. Our platform are used by top record labels and artists daily. Last year, we connected over 1.5 billion consumers to different music products through promoted links from our platform, but also via partnerships with top social media platforms like Snapchat and Twitch. If we look at high level, what is the value proposition that we solve? Essentially, streaming have steered the music into growth. Today, there are more songs uploaded daily than ever before. There are a lot of music services available. In summary, there's a lot of complexity in the market. If you take it on the other hand, then there is also a decrease in digital attention spans. On one hand, a more complex market, on the other hand, less time to navigate in this complexity. That's essentially where we see our fit, that we help consumers navigate a complex market by providing a super-fast and safe curated experience to where they can find their music product. That is us in an essence. Here's a little screenshot that we've used in previous presentations, basically highlighting what we do. We call it Click Link, Get Music. On the left-hand side, you can see a consumer discovering song or ticket and so on across social media. They click on a link, enter Linkfire. We curate and provide these one-click connections to any of the music product. This interstitial experience is completely tailored to the individual consumer, then the consumer move on to the consumption or the purchase. That is in essence what we do. We have two revenue streams. On the left-hand side, we have subscription revenue from our marketing platform used by artists and labels. Customers here are typically big record labels, artists, but also distributors. You get access to all the links you want. You can create as many links as you want. You can create small micro sites, you also can see very stellar data insights. We have some really strong data partnerships with some of the leading digital service providers in the music and entertainment space. We have our commission revenue, which are basically commission coming from our consumer connections, or also known internally here as traffic. Whenever we send people to service providers or shops and they end up transacting or signing up, as a result of that, the service providers pay us a commission fee. That was, in short, a quick introduction to Linkfire. Moving on to the business highlights for Q2. First and foremost, we successfully listed on Nasdaq First North Premier in Stockholm. Personally, we're very proud of this. Indeed. In the process, we also raised SEK 150 million. We also saw consistent revenue growth on both our revenue streams, in line with our financial targets. In particular, our commission revenue continued high growth with over 200%. We also strengthened our relationship with the biggest players in the industry, or one of the biggest players in the industry, Apple, by integrating our linking technology into their Apple Music for Artists service. Today, the company is fully focused on scale, with strong emphasis on commercial operations, and of course, product developments that supports these. We've initiated expansions into Ghana and Japan. For us, that means people on the ground working on increasing adoption and traffic. Both markets or regions are high growth, high opportunity targets for us. Lastly, we continue to have an active M&A pipeline with special interest in consolidation, top line, and traffic growth. Moving on to the Q2 highlights. First of all, establishing context to our metrics. We mainly report on four metrics, where the two first of them explains themselves, revenue and gross profit, gross margin. The two last ones, consumer connections, are the people that click on our links. Whereas the RPM or revenue per mile relates to our consumer connections and shows our ability to monetize the people that are clicking on our links in groups of thousands. The revenue growth is consistent with our previous quarter and in line with our expectations. The growth consists of a consistent subscription revenue growth, whereas our commission revenue grew by 250%, mainly driven by an improved RPM performance that I'll get back to in a second. The gross margin remained stable at 72%, heading towards our goal of 80%. We expect our gross margin to increase going forward. The drivers of that, I'll get back to later in the presentation. Our consumer connections grew 4%. They are up 17% from the previous quarter, where Q2 of last year saw a boost in consumer connections following the outbreak of COVID-19, that consumer connections last year increased 133% over the same period in 2019. With that in mind, we are satisfied with the development and our ability to continue growth on such high baseline, especially in connection with RPM performance, which has been a strategic growth focus of ours. The RPM grew 236% over last year. That growth is mainly attributed to the improvement of our affiliate partnerships over the past year. Looking at the performance of the first half year of 2021, it's more or less the same drivers as I mentioned for Q2. What I want to highlight here is that in 2020, we hit a critical mass of consumer connections with 1.5 billion consumer connections last year. That has meant that we have since focused on increasing our RPM, which shows in our performance. The RPM is up 250% from last year at DKK 6.20, that sets a very good basis for our future monetization of the traffic growth. Moving into our financial performance for the quarter and for the first half-year. I want to focus on the performance for the half-year as a whole. The product revenue grew 44%, the majority of our revenue is invoiced in U.S. dollar. Thus, the difference to the constant currency basis figures that we're reporting on and guiding on because we are reporting in DKK. Our general currency risk management is described in Note 21 of our annual report that you can find on our website. Cost of sales is the second component to our gross profit, and it increased by 65% at a gross margin of 73%. Cost of sales is mainly server and hosting costs, and last year included server credits from our largest supplier, which lowered the registered cost last year. This year, we've made proactive investments into improving our server infrastructure on a scalable setup, which allows us to expect positive margin impact in the future when scaling traffic and revenue. Other external expenses include DKK 5.6 million IPO costs related to our listing on First North Premier in Stockholm. Costs related to the capital raised in connection with the listing are recorded as an APG item. Staff costs increased as a result of expansions to our organization as we hired more people globally. On the very last line of this income statement, you can see income tax and income tax benefits for our matter, which relates to tax credits for R&D expense. I'll get back to the R&D expense in a second when we talk about the balance sheet. For these specific income tax benefits, they are registered at the applicable Danish corporate tax rate and paid out on an annual basis. Moving on to the balance sheet statement. What I want to focus here on here is on the asset side, intangible assets. Intangible assets are capitalized development projects that we have had and will continue having for the future. We expect a constant investment in R&D, and as we are constantly seeking innovation. These are the costs related to our R&D projects that we capitalize and then continuously amortize as they complete. I want to highlight as well two line items, the cash and equity, which, of course, are positively impacted by the proceeds and the capital raise in connection with the IPO. Cash increased to DKK 111 million end of this quarter, and the equity increased to DKK 102.4 million. On the liability side, I want to highlight what stands out on the trade payables that increased significantly to last year. These are obviously affected by the provisions and the bills that needs to be paid based on the IPO transaction cost, and they are settled in Q3. One point I want to underline as well is that, as we mentioned in the prospectus, part of the use of proceeds, which we'll get back to later in the presentation as well, is restructuring our debts. This is to be initiated in Q3, and it serves the purpose of ensuring optimal use of our proceeds. Moving on to the cash flow statement. The main highlights here, of course, is that on the operating losses and on the change in working capital, the IPO cost and unit. Those are the main differences and main development items to the last comparison period. We'll continue investing in sustainable growth, thus you'll also see our development expenditures consisting. If you look at the cash flow from financing activities, the far majority of our change in cash flows sustains here. It's obviously related to the transaction cost from our capital increase and the proceeds from the capital increase listing on Nasdaq First North Premier Growth Market. Moving on to the general business update. Yes. I think it's me. Thanks a lot, Tobias. Yes. In our general business update, we start by looking at the market and what is happening in the market, basically. First up, music industry keeps growing. Despite COVID-19, it grows right now at a 6% CAGR. Today, there are more than 460 million music subscribers. That is up with 100 million in 2020. Needless to say that everything is growing super fast. Streaming is getting more competitive. Spotify is enjoying first-mover advantage, but we're also seeing that competition is improving their relative position fast. In our prospectus, I believe we reported Spotify having a 34%-35% market share. That is now at 32%. We are seeing, in particular, the others mentioned here, moving up very fast, but we are also seeing the long tail growing as well. We also see that more and more social media platforms are signing music deals with big record labels. We see here that Snap have expanded their music catalog with signing a deal with Universal Music, adding its catalog to some of the features that we are a part of, sounds and lenses and so on. Really what we see is this is a tren d. It's not just unique for Snapchat. This is a trend among social media apps and so on. Really what is happening is that music is becoming more and more available. It's becoming more and more ubiquitous, which we also see as a great thing because that means more places where we can help. Lastly, we also see that social media are focusing continuously to invest in security and privacy, and that is also something that is very near and dear to us. Our links, our service are completely cookieless. We don't rely on any first-party privacy data or anything like that. For us, this is also a really great trend that we are seeing. If I go back, reiterating a little bit on our financial targets and use of proceeds, we've projected 50%-70% organic growth and approximately 80% gross margin midterm. If we look at where our use of proceeds and our focus is right now, it remains on this organic growth. It remains on scaling. We're super focused on scaling up our commercial operations, increasing our consumer connections or traffic, and then, of course, our RPM. We will also continue to invest in strengthening the business and, of course, pursuing M&A opportunities, primarily within consolidation, top line, and traffic growth. We're also looking at restructuring or amortizing parts of our existing debt. Yes. That was it for our presentation. We are very open for any questions from the audience. Please enter your questions in the chat somewhere up and down, or call in according with the instructions from the operator. I think we will start with questions from the chat. Let's start by taking some of these questions. Yeah. Should we just read it out loud maybe? Yeah. We'll take the first ones. I can read the first one out, and then we can switch it around a little bit. Yeah. What do you expect to be the main drivers for future growth in revenue and profits, traffic or RPM? Yes, I can answer that. Traffic and RPM are interdependent, you could say. Just reiterating on the concept of our traffic and RPM. Traffic is consumer connections that are people clicking on our links, whereas the RPM is our ability to monetize those people clicking on links in groups of thousands. They're mutually important for our business, which means that we're focusing now on both of these tracks, whereas in the past, we've been focusing on either one of them. With the new muscle that we've gained from the listing, we are obviously going to focus increasingly on both of these tracks. Yep. That was a good answer. Let's take the next question. Yeah, I can read that out loud. How is the M&A pipeline progressing? Yes, of course. As I mentioned, we have an M&A agenda, and we're looking at opportunities within consolidating. We are looking for opportunities within top line and traffic growth. We have not disclosed anything to the market, but we can obviously say that we are active in this space, and we are looking at this. It's a very interesting opportunity for us. Let's put it like that. Yeah. In what way does Snapchat's deal with Universal affect Linkfire's business? You can take that one. Yeah, I can take that. Obviously, the more music that is available to share across these social media apps, the more opportunity there is for Linkfire to be part of that dialogue and that conversation. For us, obviously, the more consumers and fans share music, the more opportunity there is for Linkfire to be involved in that. We obviously welcome this. Yes. Yeah. I'll read the next one. It says, question, no impact from iOS 14 at all and any major activities in terms of M&A? I think- I guess that's two questions. Yes. I think we have addressed the activities within M&A, with the previous question. Yeah. Impact on iOS 14, no, we have not seen any impact from iOS 14. We have made some adjustments to our platform. There's been some new requests from clients and so on. We've mitigated that, and I actually haven't heard about it for quite some time, so no. No, I think we can mention here as well that one of our focuses is being very security and privacy focused. We are, of course, on the forefront of this and want to be that in the future as well. Yeah, we had anticipated these changes to iOS 14 for quite a while. Yeah. Yes. What else do we have? Are we on track to reach our financial targets in the midterm, Tobias? Yes, I would say we are. Looking at our current performances, we are within our range, and we do see a lot of interesting opportunities that we can now finally start to materialize with scaling the organization and addressing that market that we are tapping into. Especially what we are focusing on, of course, as mentioned before, growing the traffic and increasing the RPM. Our ability to monetize that traffic is of huge impact to us. That kind of relates to the next question. What are your priorities in the coming quarters? Our priorities in the coming quarters is to scale up the business, to scale our commercial operations and also M&A activities. Scaling up our commercial operations, what does that mean? That means hiring more people on the ground to close more deals that can increase our RPM. That is typically more and better affiliate partnerships. We're also scaling up commercial operations to ensure that we get more traffic partners and data partners. Traffic partners are different kinds of publishers or social media apps where we can integrate our links. Data partners are our partners, typically digital service providers, streaming service and so on, where we make data partnerships and integrate that into our platform. These are some of the commercial areas that we are going to focus on a lot. We are also hiring in product development and R&D, and that is essentially to support the commercial operations. We can see a significant uplift in our RPM and in our revenue whenever we optimize our algorithm to show the right T-shirt at the right point of time and so on. Obviously, we will see a lot of effect when we start optimizing this more. Yeah. I can also see that there's a question, what is RPM revenue per mile? Basically RPM is revenue per mile. It is a way for us to show how much we monetize our traffic or consumers we connect in group by thousand. Yeah. You can reverse it a little bit. In typical advertising world, you have a CPM price. It is cost per mile. We have revenue per mile. How much money do we make per thousand people that click on our links, basically. Yes. I can read out the next question. You mentioned you operate a completely cookieless service, but if I click on the Justin Bieber link on his Instagram profile, a cookie banner is directly shown. Please explain. Yes. That's correct. Linkfire's technology are completely cookieless in the sense that we don't need anything personal, anything private on you to show you the microsite or show you a list of options. We don't rely on that. When our clients or our customers, they use our service. They use cookies to sometimes do retargeting or collect more data. This has nothing to do with us. They are the data owners, and it is their cookie that we set for them, and they get the data. We don't use that for anything operationally at all. We also don't have a business around that, and we don't sell or use any of that data. I think just reverting that back to the iOS 14 question, the subject matter here is that we are very security and privacy focused. We anticipate the market development. We see a future where cookies are not as prominent as they are now. That's what we are working towards. Yes. I hope that answered some of the questions. I think maybe we should see if there's any questions from the operator. Thank you. If you would like to ask a question via the te lephone lines, please press zero one on your telephone keypad. There will now be a brief pause while any questions are being registered. That's a reminder to press zero one if you have any questions. We have no registered questions, so I will pass back to the speakers. Okay. All right. Thank you. We hope we answered your questions. Maybe you can switch to the last slide. As per usual, feel free to contact me or Tobias. Have a look at our investors.linkfire or email us directly at investors@linkfire.com. We're happy to answer any further questions there. Thank you very much. We were a little bit nervous. Our first earnings calls, we'll see you again next quarter. Thanks a lot for tuning in. Have a wonderful day. Take care.