Perfect. All right. Amazing. Let's go back to the beginning then. We'll start from the beginning. I think when we were unmuted or muted, I said we were champions. I'll take it back. We're running this webcast ourselves. So apologies, sincere apologies. Let's start over. Apologies for the delay. Let's jump straight into it. Please pay special attention to the forward-looking statement disclaimer. As well, please ask questions in the question section if you have any questions, and we'll go through them at the end of the call. Today, presenting Lars CEO and co-founder, Tobias, CFO as well. We'll go through just before. We'll go through, go back. This is highlights of 2022. We'll go through our financial performance here of Q4 and for the full year of 2022, of course, an outlook and a Q&A session at the end. Q4 2022, just quickly the highlights before we get started with everything. Revenue grew above 70%, we substantially improved our EBITDA ratio, meaning that we are moving significantly closer to our breakeven objective year of 23. Had our best quarter to date. Q4 was our best from investors. You know, can you clarify your business, the storytelling behind it, and so on. Of course, we're focusing a lot on improving that ongoingly. High level, we help music and audio creators promote their products. We create thousands of promotional links and micro websites that artists, record labels, and distributors use worldwide. Through these links and websites, we optimize the promotional impact, we drive music streams, we increase ticket sales, and we recommend audio content to billions of fans globally. We connect consumers in the billions to different streaming, ticketing, and merch services. Here in 2022, we've connected over 2 billion consumers. We have two sides to our business or two revenue streams to our business. One is our subscription side, where we are selling access to our platform, our marketing platform. In 2022, that consisted of 61% of our revenue. Customers here are typically record labels, artists, very small artists as well, and even distributors. On the other side of the business, we have our commission, which in 2022, amounted to 39% of our revenue. Here, we are monetizing the traffic, the people that click on our links. Whenever they drive a sign-up or transaction, there is a potential commission in it for us, whenever we drive a sign-up or some sort of value transaction for any of these services, a ticketing sale or a merch sale. We are on a solid financial trajectory. We have a very outspoken objective to break even here in 2023. For the full year of 2022, we saw 56% revenue growth, and very noteworthy was that our commission grew 76%. We continue to operate at a very high gross margin, and we continue to see strong traffic growth as well. Some of the market updates that we find interesting, and obviously, we're looking at the market all the time, and we can see what's happening in other verticals and, you know, macroeconomic and so forth. We continue to be very optimistic about our space. First of all, we see that the music and audio creator space continues to grow. In particular, in the very long tail with smaller artists, we continue to see a lot of growth. We see a lot of influx of users in that area, and we're working on features and working on our inbound engine also to target more on that area. We can also see that other companies, and I'm just noting here, BandLab, a company that makes a music production tool and a social network for music producers, have grown to over 60 million users, predominantly in the long tail, but also a little bit among the indie and the bigger artists. Just for us, showcases that there is a continuous growth within this space, and there's a lot of opportunities for us to grow in this space. Obviously, just a small note that the CEO of BandLab is an investor in Linkfire. We're also quite excited to see the development in streaming services and subscriber numbers. We can see here these are the latest numbers from the pie charts. These are the latest numbers from Q2 for the music industry as a whole. We can see now that, for example, Spotify in their Q4 results announced that they've surpassed 200 million paid subscribers. We can see that the total subscriber base of the industry are growing and can still see that there's a lot of room for growth. We also see that the shares, the market shares are changing a little bit. Despite Spotify continuously growing, we are seeing that they are dropping in market share, we're seeing these shifts happening all the time. We welcome this competition. We think it's great. We think it's great that the market continues to grow, but we also think it's great with more competition. In our commission model, we earn our commission whenever we drive a sign-up to some of these services. Of course, the more competition there is, the better opportunity we have to negotiate different deals and so forth. That is quite interesting for us. Our strategic focus here for 2023 is obviously to break even. As you could see in our, in our result, this is something that is not too far out in the distance. We're also focusing more on our core, our SaaS platform, both our existing customers but also customers, and in particular, in the very small segment in the long tail where we're seeing a lot of growth potential. We're focusing here on optimizing our inbound funnel, and we are optimizing the features that we turn out as well to make sure that it has a really, really strong fit for this segment as well. We'll continue increasing our traffic monetization, increasing the deals that we have, improving the deals that we have, increasing our click-through rates and so on. We've seen in Q4 2022 here that we have an historical high RPM performance, which is one of the metrics we use to measure the monetization of our traffic. We've seen a historical high performance of this in Q4, and we will continue to invest in improving it as well. We're also expanding vertically, still within entertainment and very much within audio and spoken word. Right now, we are working specifically in the podcast area, but we are also expanding our partnerships with different streaming services and other services in this space to go more cross-vertical. Here we expanded our agreement with Apple Music as well. Business highlights. I will touch a little bit upon some of these areas. Bio Link 2.0. I will explain on the next slide what Bio Link is more specifically, but it's a product that is very tailor-customized to in particular, also the long tail of music creators. We've also, in 2022 and specifically in Q4, streamlined our organization down on staff. We've focusing on more short-term, high yield, revenue initiatives. Fair to say that, we'll be very more, we'll continue to be diligent in our organizational development, going forward. Also secured our path to profitability by securing DKK 45 million, and this money will take us to break even and beyond. Just touching upon what is an artist Bio Link and why are we excited about this feature. Typically, and historically, we have created links or small websites that would promote a single product. Could be a song across different streaming services, it could be a ticket across different vendors or across different locations. Now the artist Bio Link is basically a mashup of all these things. It's more like a small website that can span across different product types, so it can actually feature both the songs, it can feature the tickets, it can feature the merch, and so forth. This is very much aimed at the long tail in the small artists that may not have a full album. They may only have one or two songs, but they do have some T-shirts, and they do have a lot of engaging fans as well. It can also be and will also be used by some of the bigger artists that we have and so forth, but it's very much tailored to the long tail as well. We are already seeing significant growth with this type of link. It's contributing greatly to our traffic. We will see it contributing more and more to our traffic going forward. We still have a lot of traction on our existing links, both on the ones that drive streams to songs, but also the ticketing side of things. This is a complementary product that we brought out. We're quite excited about this. It's highly customizable. You can brand it however you want. You will see more of these type of additions to this feature coming out in the future. Over to you, Tobias. Yes. As we promised earlier, a short update on smartURL. Basically taking it from the top, we purchased an asset in this deal, the smartURL asset, and we paid a purchase price for that. The second part of the deal was an earn-out arrangement with the former owners of smartURL, That was a separate post in our books as well. As for the asset, we integrated that mid-year. Still working on migration dynamics, but the main goals of the asset purchase was traffic synergies with our acquisition funnels as well and our product in general, The indirect values to the industry. We've observed that traffic has been lower than we expected. However, what we see is the indirect value is being higher, so it resonates really well in the industry, that we are consolidating it like this. Also, the indirect value is significant in the deals that we are making, and we expect that to improve the deals that we have and improve our deals going forward as well. As for the earn-out, that's a separate revenue generation arrangement. For this year, for 2022, 2% of our direct revenue contribution came from this arrangement. It's fair to say it's a very small part of our total revenue. We consider all our revenue organic since this is a asset that we purchased and the synergies are from integrating into our platform. There's no inherited revenue. On to the financial performance. As Lars mentioned, this was our best performing quarter to date. Our revenue grew 72%. It's the highest in a separate quarter in our history. We're very proud of that. Our gross margin hit 79%, also growing significantly both year-on-year and in the past quarters. The EBITDA hit a historically high level. We improved our negative EBITDA from previous quarter and significantly from the same quarter last year, 87%. We are very content with that because it sets the future or sets the foundation for our future ambitions of breaking even. We have a solid balance sheet as well, solid equity to start out 2023. By concluding the Tranche 2 in April, we are confident about continuing to be looking like that. Our intangible assets on the left-hand side registered an impairment loss in Q3 due to changed market conditions, due to the separate financial write-off of the separate smartURL asset as it has been integrated now. That is reflected in the year-end balance as well. As for the cash flow on the right-hand side of the slide, we see the spread narrowing and occasional positive operating cash flow as well. We expect that to continue into 2023 as well. As for the revenue, it consists of two revenue lines, the subscription revenue and commission revenue. Commission revenue is where we've seen the highest growth, and subscription revenue continues to grow on a steady basis. Our subscription revenue, the recurring part, grows at 20%-25%, and we are content with that. One of the outstanding or the outliers here is the non-recurring revenue, which relates to contracts that are limited in time by nature. That is expected to lead into recurring revenue mid-year 2023. Key performance metrics for the quarter surrounds commission revenue. It grew 124%. Just to reiterate, the RPM on the right-hand side is commission revenue per 1,000 customers, consumers, sorry, which says something about our ability to monetize the traffic that we generate. We're focusing this year or most recently also with the downsizing of organization and narrowed focus towards platform on less capital-intensive initiatives. The partner traffic that we have had in previous quarters, we're basically scaling that down to focus on only the part that is profitable to the business and drives margins that fits the rest of the business as well. There are three main drivers, this quarter in the great performance that we see in the commission revenue. One is the seasonal uptake in Q4. Q4 is traditionally a strong quarter. Then we stopped operating this less profitable traffic. Of course, outstanding performance on the monetization initiatives that we've launched. Our performance all across the board is within our guidance. For the revenue, we had a guidance before of between DKK 50 million to DKK 60 million that was set out at the beginning of the year. We ended at DKK 52.6, so within guidance. Same for the EBITDA. We ended up at negative DKK 39.9 within the range of negative DKK 32-DKK 42 in EBITDA. Our full-year gross profit also took a good development from last year, reaching 75%, lifted by the performance at the end of the year, which we expect to continue into next year as well. Our subscription revenue for the year grew to DKK 32.1 million. That's a recurring growth of 24% and lifted to 45% by the non-recurring partners I explained before. New deals with Apple and Amazon have driven good performance on the commission revenue and also several monetization initiatives that we've been driving, specifically focusing on the platform going forward. That has also been the main contributor during 2022. There will be deviations in our RPM performance quarter-over-quarter, what we care a lot about is to see the trend line going up as we can see it here for the yearly figures as well. Moving on to the outlook and guidance. As I mentioned before, the guidance for the year has been met. We confirm our performance is within guidance, and we are very content with that. We have mid-term targets there to grow our revenue 20% to 40% in organic growth and reach a gross margin of 80%. The revenue target was adjusted downwards in connection with our downsizing of our organization and directed a narrowed focus in order to minimize risk to break even. I'm gonna explain a little bit about how we see our path to EBITDA break even in 2023. Looking at our Q4 annualized cost base on the far left of the slide, it amounted to DKK 65.6 million. We have concluded some further savings, for example, as a result of the downsizing of the organization and general savings on our cost base. That brings down the 2023 cost base to DKK 50.8 million in the third column you see. At our Q4 2022 gross margin, that requires DKK 64.3 million in revenue in order to cover our cost base, which would make us break even. How do we reach the DKK 64.3 million in revenue? Well, from 2018 to 2022, we grew 40% in average on our revenue. In order to meet the break-even revenue for 2023, we need to grow 22%. We believe based on our historical performance, based on the initiatives that we've set out, that this is doable for this year, and that's what we're chasing first and foremost. Let's move on to Q&A. Thanks, Tobias. Let's move on to Q&A. Feel free to enter your questions in the comment section. I can see that we've already received some questions in the comments. One question is, "Are there any specific partnerships that are driving the growth in commission revenue and RPM?" Obviously, I would say that we have strong relationships with all the different DSPs. We have specific deals with some DSPs. We have trials in with other DSPs in specific regions and so on. We don't single out a specific streaming or digital streaming service DSP. But it's fair to say that we want to improve the deals that we have with all of them, and we continue to negotiate either on a global basis, on a territory basis. We've seen a lot of great improvement here, first of all because of our performance, but also because of how the market is changing. There still is a lot of growth there. They're investing in growth in different areas, and we are a key component, there to help with that. Yeah. I think it's fair to say, as we've communicated recently as well, that both Apple and Amazon we have long-standing relationships with. That's the main driver in our commission revenue. We are, of course, always looking to diversify our sources of revenue. We are seeing more drivers in the commissions, more services. Yeah. That will grow in percentage of the share, probably also, this year. Yeah. Any additional comments on the performance of subscription revenue? Yeah. Our subscription revenue is very much performing as per historical performance as well. We are focused on one industry, and that means that we have a very good idea of our acquisition mechanics and our market, and that's trending along as to the historical pace. We expect it to grow around the 20%, as we have been historically, and that seems to continue into this year as well. The main drivers of that is, of course, keeping our big customers happy. We care a lot about them, and we do a lot to make sure that they follow the innovation as well in the industry. Of course, focusing on, as Lars was onto in the beginning of the presentation, the long tail of the market, so acquiring a lot of new users in this segment because there's a big potential and we have a great product for it. Yeah. There's some additional comments on the CapEx levels for the quarter. I think that's for me. Okay. Yeah. The CapEx levels for the quarter was lower than previous quarters. We expect it to even decrease further into 2023 based on the downsizing of our organization. We'll reduce our investments into development projects along with the downsizing of the organization. There is a question about our current share price. Obviously the market determines the share price, I can relate that we are focusing more now on investor communication. We've taken different initiatives in terms of our 23 investment investor communication strategy, newsletter send-outs and so forth. You'll be hearing a lot more from us in a more frequent manner. We'll be sharing more stories, what's happening inside the company and so forth on our investor newsletters. It's something that we are actively investing more in communication. Obviously we are investing a lot in the business performance, as you can see, we also want to upscale our communications effort, basically. Yeah. Then we are trying to make our storytelling simpler, as you might see in this presentation as well. We are really trying to narrow in to be able to relate to the general public what we do and why it's so exciting. Correct. Yeah. There is a question when we will break even, if it will be in next month or the month after. We don't disclose that. We've said 23. We have seen months here where we have broken even or broken close to even. It's in the very near future, and it's something that we are working hard on. We don't really care about what specific month we break even. We care about seeing the trend so that we will build the business sustainable, so it's lasting for the long run. As Lars mentioned, we've seen one month here and there of break even, one specific month in Q4. What we really care about is a fundamental change in our operating principles, so we focus on profitability. That's our general message here, I think. Yeah. That is showing very positive signs. Yes. That's very cool to see. Stay tuned on that. There's a question as well: What else is going to convince investors? Well, I think we've shown a lot of convincing messages here. We are able to, despite a turbulent quarter, we raised our revenues by 76%. We have been able to actually perform within the guidance that was set out at the beginning of the year on the revenue, and there's more to come. There's plenty of opportunity out there for us. The market changes, the market dynamics is an opportunity for us. There's also the entire monetization side of things as well. Yeah. There's a question about business goals of 2023. To touch a little bit about that, what are some of the new partnerships and new relationships or new products and areas that we're working on. Obviously, we try to communicate new partnerships and relationships when they are of material nature and not when we start engaging with them, because sometimes the partnerships that we're working with are, they're quite big in nature. They're the big partnerships that we're working on with big social media platforms or other partners as well. Sometimes they take time to materialize. We will announce that when it's going live or when it's close to going live, when it becomes material. We are working on partnerships that are dealing a lot with our long tail creator space, so improving the amount of users and traders that we have in the long tail, simply because we are seeing a good monetization of those type of users. We are seeing that we can get a good subscription revenue out of them and a good commission revenue out of them. It's quite profitable for us to expand there, and we are making partnerships to significantly expand that space with some entities in that space that has already a lot of creators and a lot of partnerships there. This is something that, when we conclude these partnerships, are expecting to have quite material value for the business because we already know the underlying metrics in that traffic and, yeah, the yield of that. Yeah. We are still working on some big social media partnerships, nothing that we have disclosed now. In terms of products, one of the more significant trends that we're moving into is, yes, the vertical expansion. You will see some new features, in particular the podcast area being pushed out here in the recent, in the upcoming months. We'll broaden our reach there, and we of course expect a flowing of new subscription users in this. You will also see more development on this Bio Link on our offering that are targeted at not just songs, but more across any of the products, you will see more development in this space as well. Also means that we are optimizing our platform to cater not only for the big record labels, but also for the more smaller users, simplifying some of the platform offerings and so forth. Those are the types of areas you will see us investing in. It's not that we do not see many other opportunities out there, but we are focusing die hard on short-term initiatives that can have the highest yields for us. We think that 2023 will be such a quarter where we focus on the things that we know will generate the shortest and the highest return basically. Agree. Less is more this year. Less is more. Yes, exactly. Of course, we have ambitions and great ambitions, and right now our biggest ambition is to break even. Yeah. I don't see any other questions. Let's wait another 10 seconds, otherwise we'll conclude this call. Thanks a lot everyone for tuning in. Remember on investors.linkfire.com, you can see all of our press releases, our reports, a recap of this video. You're always welcome to email or call Tobias and I, or you can reach any of us from our team on investors@linkfire.com. Yeah. We have our annual report out on the April 5th. Remember to sign up, for our general meeting as well. Yeah. Three weeks later. It's all on the, on the website as well. Yeah. Besides that, I just wanna say thank you for tuning in, and thank you for believing in Linkfire, and, have a wonderful day. Thank you.
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