We are live. Good morning, everyone, and welcome to our Q1 2023 webcast. No sound. Do we have sound on? Yes, all good. Yes, we do. Sorry. Good morning, welcome here from wonderful, sunny Copenhagen to our Q1 '23 webcast. We'll go through the webcast now. Before that, please just pay special attention to this disclaimer that will be there in a minute. There we go. Please pay special attention to this forward-looking statement disclaimer before we move on. Presenting today will be Tobias, our CFO, and myself, Lars, CEO, and co-founder. We'll go through some of the business and market updates, business highlights, financial performance, outlook, and then eventually end up with a Q&A. Feel free to enter somewhere in the chat if you have any questions, and we will address them at the end of the presentation. Moving on. We're just looking at our guys outside here just to make sure we have connection. We didn't have one at the beginning of the last call. Yeah ... trying to make sure you can hear what we're saying. Yeah. Some of the highlights here from Q1: steady revenue growth with a very strong improved EBITDA, improved 83% compared to same period last year. Revenue was up 17%, gross profit 33%, and a gross margin of 82%. EBITDA improved 83%, and that's been very much our focus here in Q1. We have a, you know, very outspoken agenda of becoming a self-sustainable business and breaking even. Obviously, since this is our goal number one, this is obviously something that we are quite proud of. Business and market updates. For any of the viewers that are new to Linkfire, just a quick recap of who we are. Linkfire, we are a Danish company listed in Sweden. We work in the music and entertainment space, and we help music and audio creators promote their products. We drive music streams, we increase ticket sales, and we recommend audio content to billions of fans globally. We create these smart links, small micro websites, where artists and creators can feature all their different products and content, whether it's music, tickets, and merch, and then they function as a very quick promotional websites where fans can then either move straight on to consuming or buying or transacting. We serve and connect a lot of consumers or fans to different streaming and ticketing services and merch services every year. Last year, we served over two billion fans. We have two sides to our business. One is our subscription. Typically, that is record labels, artists, distributors, that use our marketing platforms to create all these smart links and micro websites, and that comprises of around 61% of our revenue as of 2022. On the other side, 39% of our revenue comes from commission. Commissions are typically from streaming services, ticketing services, merch services. Whenever we drive some sort of value transaction to any of these places, whether it's a ticket sale, or transaction, or sign-up, if we have a deal with any of these services, that will then yield a commission to the business. We've seen solid financial trajectory over the past five years, 40% CAGR, and this year, we expect between 14% and 33% revenue growth, and of course, die-hard focus on the bottom line, where we expect to see positive EBITDA and break even. Our strategic focus, again, reiterating, breaking even is our strategic focus. That means we are running a more streamlined and focused organization. We have fewer strategic objectives, and we focus on our core business. What does it mean to focus on our core business? Well, we focus on our SaaS platform and our customers. We focus on the enterprise customers, and we focus a lot on the long tail, the smaller creators and artists, because we can see a lot of really great opportunity there. We will, of course, continue to increase our RPM or our monetization of our traffic. We've seen great improvement on the RPM this quarter as well, and we will continue to focus on that. We are also expanding our core platform into new entertainment verticals, with a strong focus on audio entertainment, and we will see some news around this space in the months to come. Moving into business highlights. Yes. There we go. Again, Q1 highlights: improved EBITDA of 83%. Again, sustainable growth, we focus on less and higher quality. You will see that there is a drop in Consumer Connections, but you will also see that our RPM has been positively improved. We're basically trying to remove the things that are not profitable for us as a business, and focusing on where we see the profitable growth. We will continue to see Consumer Connections grow, but it will be Consumer Connections that has a high yield in terms of financial revenue. On the creator side, in the long tail, the smaller artists, we actually see very promising unit metrics. You will see us investing more in this going forward. We have invested a lot in this here in Q1, but you will see us continue to invest in this, both on product but also on partnerships as well. We can see that that side of the market are growing substantially. 100,000 tracks upload to Spotify daily. BandLab has now over 60 million users, and we see very, very strong RPM performance on that segment of our customers as well. You will see us focusing more on that. Finally, some of the Q1 highlights is that we've secured debt facility. One of our major shareholders have leaned in, shown tremendous support, and we've secured a debt facility of 22 and a half million Danish kroner, and that waives the second tranche, meaning that there is no further shareholder dilution in regards to this tranche. Another business highlight that we launched here in Q1 is that we launched extension to our collaboration with Amazon Music. We have a type of link or micro website that is called a pre-save. That is before a song is out, where labels and artists can build up excitement around their song that they're about to release, where fans can then go in and say, "Hey, I would like you to add this song automatically into my library, or notify me, send me an email, or whatever, when the song is out." That is something that we're seeing great traction on, and by adding Amazon Music into this mix, it's, first of all, a great testament to our partnership. We were the first to bring this to market as well, and it's something that is quite exciting for us, that we can bring this to both creators, artists, and labels, because it's a very sought after feature as well. Financial performance, Q1, that's your turn, Tobias. Yeah, I'll happily take that. Looking at Q1 financial metrics, we are obviously very proud again to report a substantial improvement in our profitability. That's driven through revenue growth in line with our expectations for the quarter. Our gross margin saw an increase up to 82% from 72% from last year, and the gross profit increased by 33%. This is the result of a focused effort into reducing our server and hosting costs, and optimizing our general setup around our revenue. The revenue growth, the improved gross margin, and the lean organizational setup drives the improved earnings that we're seeing this quarter. Our equity is solid to carry through to breakeven and beyond. We continue to invest in innovation and product development to stay ahead of the market, to stay relevant and be relevant to our customers and artists. This development sits in intangible assets. Our cash flow, on the right-hand side of the slide, is subject to seasonal fluctuations. In Q1, it was positively impacted by being a high incoming cash quarter, driving positive operating cash flow. On the revenue side, we grew 17% in total, where the subscription revenue derives from licenses to our platform. The recurring part of our subscription revenue grew 17%, in line with expectations as well. The non-recurring revenue relates to contracts that are limited in a contract period by nature. The non-recurring revenue is expected to lead into recurring revenue in the second half of this year. On the commission side, we saw a slight drop to last year. Commission revenue appears when advertisements are presented on our links and when consumers are sent to shops in which they buy and we have a partnership with, for example, signing up to a streaming service or buying a ticket for a concert. The drivers for Consumer Connections on the right-hand side is for commission revenue, is Consumer Connections and RPM. The RPM represents our ability to monetize the Consumer Connections in groups of thousands. The main drivers for the commission revenue and RPM development is, compared to last year, commission revenue was very strong in Q1, and we also, this quarter, cut off costly partner revenue in order to optimize for profitability, and that sacrificed a portion of the revenue that we saw last year. This means that we're focusing on least capital-intensive initiatives in order to fuel our bottom line, which we've seen this year or this quarter. We expect to offset the cut-off revenue by organic growth in commission revenue during the year. Moving to the outlook and guidance, we saw performance in line with our expectations, so maintaining our financial guidance as launched earlier this year and reiterating on the midterm targets as set out in the IPO and adjusted last year in connection with our restructuring. We have a midterm target of 20%-40% organic revenue growth and approximately 80% gross margin. For the full year of 2023, we are guiding a revenue in between DKK 60 million-DKK 70 million, which corresponds to a growth of 14%-33%, so in line with our performance this quarter. For EBITDA, as mentioned, we are diehard focused on breaking even this year, and we're guiding on both sides of the breakeven point, so between -DKK five million and DKK five million. Moving on to the Q&A. We have a couple of pre-filed questions, and I think we can take those. I'm actually not sure if the questions are appearing on our screen because it tells us to refresh the page. I'm a little hesitant on doing that. Let's take the ones that are pre-filed. Viewer's asking: what is the annual burn rate? We consider the burn rate our EBITDA plus development expenditures. The burn decreased throughout the quarter, and is expected to decrease further as we move into our breakeven plan. For Q1, the burn rate was DKK 6.3 million, corresponding to $900,000, which is a 48% improvement to the previous quarter, so to Q4, where our burn rate was DKK 12 million. The second one, we'll take that as well? Yeah, let's take the second one. We have another one that has come in as well. Yeah. The second one, if revenue was halved, what are the areas to cut costs? Yeah, it's a theoretical question, of course, but, in theory, if revenue was halved, we are able to adjust the cost accordingly, basically. That said, we also believe that with the current cost base, we can operate a higher amount of revenue, so improving our profitability with the, with the current setup. Yeah, with the current cost structure that we have. Exactly. Yeah, exactly. All right. There's another question is like, how long can we last? What's our cash position? Yeah, we assume that's related to cash. Yeah. With our current projections of reaching EBITDA breakeven this year and beyond, and the latest credit line addition that we closed here before reporting, we are default alive. It's a term that is evolving in the market, which means that we expect to turn a profit before we run out of money. That's the current projection. Yeah, yeah. We also have another question that highlights or brings us back to our report. Just some elaboration on what are external expenses? We can see that's down 45%. Yeah. Can you elaborate a little bit on that? The external expenses is basically everything in our operational expenses that is not staff cost. That is everything, rent, it is marketing cost, freelancers and contractors, and that's been a focus of ours to reduce our operating cost base so we can optimize our profitability as well. That very much ties into what we are focusing on right now. We are diehard focused on breaking even, and so we are obviously seeing where can we save money, where can we cut away, so that we focus on the profitability and not necessarily on tremendous growth. We of course, want to see growth as well, but right now, profitability. Yeah, exactly. All right. Let's see if we have anything further. We don't see any further questions. All right, let's give it another 30 seconds to see if there is more questions appearing. Yeah. Doesn't seem like it. All right, no further questions. Look, thank you very much. This was a brief one. A great quarter for us, saw us improving a lot on our targets here for 2023. Thanks for joining us. Yeah please feel free to check out the report. Yeah? Yeah, just if by any case we missed some questions because of the setup or anything, just file them on investors@linkfire.com afterwards, and we'll get back to you there. Yeah, exactly. investors@linkfire.com. Thanks a lot. Have a great day, and see you next quarter or before. Thank you. Bye.