Good morning, everyone, and welcome to this Q1 presentation with the Net Insight. My name is Andreas Joelsson, covering Net Insight here at DNB Carnegie. With me in the studio, I have Net Insight's CEO, Andreas Eriksson, and CFO, Cecilia Höjgård Höök. You will provide a presentation of the quarter. You can ask or send in questions on the prompt. I think it should be down in the screen that you see in front of you. Just type in the question and send it, and I will read it to the company. With that, I leave the floor to you. I guess, Andreas, you will start. Yes. Thank you very much, Andreas. Great to be here. Let's get started. We'll go through a quick sort of highlight of the quarter, deep dive into the business overview. I'll hand over to Cecilia financials, then we'll wrap up and open up for Q&A. If we start with the highlights, I think if you look at the net sales side, we're down a little bit more than 2% year-on-year to about SEK 112 million. If you look at comparable currencies, though, you know, we're up a little bit lower than 5%, around 5% mark there on the net sales side. We could see during the quarter improved earnings year- on- year. This has been, you know, primarily reflecting the full effect of the 2025 cost reduction program that we ran. If you look at the quarter, we've done several portfolio launches, you know, which is about broadening our addressable market. We've also seen some positive customer traction with media operators sort of winning new customers. That's sort of on the media side. If we look at the time synchronization side, as I highlighted in the last report, the focus going into 2026 has very much been around conversion of what we have in the pipeline, opposed to significantly adding new things into the pipeline. It's sort of been pleasing to see that we've been able to progress along the sales process into trials and pilots. As we have signaled before, the sales cycles, you know, take a bit longer time than we thought before. I think we wanna also highlight that we expect quarterly volatility on the revenue side because, you know, it's not until we have a broader portfolio of customers in roll-up mode, which we expect the, you know, smoother sort of revenue quarter from quarter. We talked last time about, you know, the analysis we've done looking back to 2025, and we said we're gonna take actions in three different areas. We wanted to enhance the portfolio on the media side. We wanna make sure we drive increased sales efficiency on the, on the media side again. As I just said, on the time synchronization, the focus is very much in around driving conversion. If you look at progress during the quarter one, then on the, on the first one, we have launched Nimbra 520, which is a new product we have, and I'll cover a little bit more in detail how that feeds into the big portfolio. That's been one thing. We've done some upgrades to the compression side. We strengthen other parts of the portfolio. This is all about sort of closing the gap we have on the video compression side, as well as on the internet and cloud area. If you look at the increased sales efficiency, you know, as you might have seen, we've sort of put a new leadership in place across the sales and marketing team. We have just announced that we will bring on board a new Chief Product Officer, which is also part of the sort of commercial leadership refresh we're doing. She will join 4th of May. We have won a new customer, global streaming operator, during quarter one. This has been part of the sort of its increasing segment we see around sort of global streaming providers globally. That's been an important win for us. If you look at time synchronization, again, focus on conversion has been really the key here. We've been progressing several prospects. I'll outline that a bit more in detail in a separate slide. Türk Telekom, as you know, we've highlighted that they've been through a rollout process, and they have launched 4G now in April, or 5G, sorry, I should say, in April, and progress now into full operations. Sort of moved from rollout into full operations. That's sort of a key progression that we've seen in the time sync area. I think we've highlighted that, you know, we believe we're taking the right actions, and we're doing, you know, things step by step here. I think we also wanna, you know, highlight the financial impact will happen step by step over time. If I then go into more detail, we'll start with the media side. As I mentioned, those net sales remain sort of pressured pending the impacts on the measures we're now taking. On the portfolio expansion side, the Nimbra 520 again fits into primarily the cloud and internet delivery area. Here we're moving into more of it another type of encoding, HEVC, that we haven't been so active in so far. We have done a very important upgrade on the other encoding type we have on the JPEG family, where we have now increased sort of the density, you know, the price efficiency, let's say, on that compression type, which is very important for as part of our selling propositions. Now we really moved up to become the leading provider on that in the industry. The next Nimbra Edge, next generation, this is about sort of a monitoring operations system which we have, which we use for the cloud and internet delivery. We provide compression, but we also then provide this orchestration. This has been a really important upgrade that we have done on that area to make sure we remain very competitive on that. The combination of the Nimbra 520 with the Nimbra Edge will be, we believe, a very strong proposition. Customer traction side, again, as I mentioned, we have now a new relationship with during Q1 with a global streaming operator. We also won a deal in Q4 with a global digital media operator which got established Q4, and we've actually now seen additional orders coming in from that one in Q1 as well. That's been pleasing to see. I just mentioned that we've done some strengthening on commercial and product strategy area. We have Larissa joining us as new Chief Product Officer from 1st of May. I think as a overall statement, I think we feel that we're, you know, we're well positioned to benefit from the foundations we've now put in place over time. You know, we're active in attractive markets. You know, we've got a good strong heritage of developing, you know, strong, innovative, leading solutions in the media area. If I just quickly touch on this one, just to position the addressable market that we are active in and how we look at the launches. As you can see, you know, if you look at the white round, sort of marked as you have the 400G on the managed side. That's one we talked about. We've done the first customer on that in end of last year. That customers have now gone live with the 400G. In Q1, we actually won another customer for the 400G product, which has been good to see. I talked about the JPEG XS upgrade we've done. That's all on the managed side and on the internet and cloud area. The Nimbra Edge upgrade that we've done as well as the Nimbra 520 fit into that one. We now feel that we have good proposition to attack the internet and cloud, more, even more aggressively. If we jump on leave media and move over to the Zyntai side, again, 2026 converting existing opportunities, that's really the focus. We've seen some positive progression on the Zyntai side. Latin American operator, two smaller operators have advanced to field trials, and we have a large North American operator which has advanced to pilot installation. Türk Telekom, as I mentioned, moved to full operations, of course, that's strengthening the reference value of that customer for us. We have, we've sent out some press release around an awarded grant we've gotten from the ESA. This is, you know, not as significant in terms of financial terms, but of course, it signals that we have an interesting solution and we have something that is well-aligned with where the market is going. Of course, it will help us strengthen development of the solution, but it's not in terms of financial terms. It's not a significant, you know, amount. I think that's maybe important, but really positive to see. Again, positive long-term outlook. I think we are signaling the short-term volatility in terms of revenue that we expect until we reach more customers in rollout and full operations. We will see more sort of stability quarter to quarter on the Zyntai side. This is just wanna highlight sort of the change, you know, across the sales process during the quarter for the Zyntai side. Again, one additional PoC we have gotten, although it hasn't been a prime focus. You know, as I mentioned, three customers have moved to field trials. We have one customer that moved to pilot installation, we also won a media customer that's gone to straight to rollout. Plus one for full operations is the Türk Telekom that's moved to full operations. Maybe a quick mention around the media customer here. I think it's very pleasing to see that we are able to win customers in media, we have signaled that we won that previously. Of course, it's a positive, you know, you know, that the market is interested in our Zyntai solution also. On that side, obviously being strong in the media is a positive. If you look at the size of those deals, you know, tend to be smaller. It's not the bigger rollout amounts that we will see on a Zyntai for a 5G operator. Still, you know, good to get more customers on it and good to get more references out there, of course. With that, I'll hand over to Cecilia to take us through the financials. Yeah. Thank you. We start with net sales. In Q1, our net sales amounted to SEK 112 million. That is a decline with approximately 2% year-on-year. As Andreas Eriksson said, FX headwinds is still putting pressure on our net sales. In comparable currencies, we had a growth of approximately 5%. Beyond FX, we still have market uncertainty. This has an effect of cautious spending. We are pending impact from the measures we have taken. Again, these measures are expected to give results step by step over time. On the right-hand chart, we have a split on net sales by product group. Starting with media, net sales for Q1 amounted SEK 105, and that is in line with last year and 8% growth compared to last quarter. Continuing with time synchronization, revenue was SEK 7 million, and that is a drop versus last quarter record high, SEK 20 million. This reflects the volatility that we will have on the revenue until we have more customer in the rollout and the full operation phase. Our gross margin for Q1 was 66%, slightly down year on year, reflecting FX and the product mix. If we continue with our cost side, we now have full impact of the cost-saving program that we launched last year. Operating expenses declined 11% year on year. We continue with cost discipline. This resulted in an EBITA improvement to SEK 20.6 million, despite that we still are pressured by net sales. In other words, our cost base is structurally lower, and our main lever for further market margin expansion will be the revenue recovery. Operating earnings. Operating earnings for Q1 was SEK 1.9 million negative, with a margin of a negative of 1.7%. On a rolling 12-month basis, we still have a modest operating earnings of SEK 16 million, with a margin of 3%. This reinforces our focus on scaling on our upgraded product portfolio and the importance of conversion in the time synchronization pipeline. To cash flow. We had a strong operating cash flow in Q1 of SEK 42 million, and this is supported by the improvement of working capital. Investment cash flow was a negative of SEK 24 million, and this is mainly our capitalized development expenditures. Financing cash flow was a negative of SEK 2 million. In total, we had a positive cash flow of SEK 16.4 million, and we ended Q1 with a net cash position of SEK 99 million. We also have an unutilized credit facility of SEK 85 million, so in total, we have available cash liquidity of SEK 184 million. That was this for the financials. Thank you, Cecilia. Just to summarize, this is what we outlined last time when we looked at strategic roadmap, how we first addressed the current challenges that we have highlighted as well as how we work to seize the mid- and long-term opportunities. Just looking at the left side here, this is really what we talked about. Again, Zyntai here and now and the coming time very much around driving conversion. On the media side is about the enhancement on the media portfolio. On the sales side, driving really high efficiencies, you know, around how we bring products to market in a more effective way, how we upsell to our existing customers, how we break into new customers that can become significant over time. To summarize, the Q1 for us, we feel we have some, you know, really clear progression here on executing on the priorities that we have set. That's, you know, pleasing to see. You know, we're driving the improvements that we had outlined and that we set for ourselves. You know, enhancement of portfolio, increasing sales efficiency on the media side in particular, the cost actions improve the earnings and the cash flow in the quarter. That's pleasing to see, and that's both in terms of obviously the cost reduction program we ran last year, as well as just being very prudent and on how we managed our cost on an ongoing basis. On the Net sales side, as highlighted, remains pressured pending the impact on the measures we're taking. We feel that we expect this net sales to materialize gradually. On the Zyntai side, some positive sales funnel progression as highlighted. Again, long-term outlook remains positive. Short-term revenue, we expect some volatilities from quarter to quarter. We are stating that the long-term financial target remain unchanged, though timing towards the 2027 timeline is challenging. Again, as a summary of the position for the company, we feel well-positioned. We have we're putting this foundation in place over time. We feel we can really benefit from it over time. We have, you know, we're present into attractive markets. We have really a strong heritage and a legacy to really drive innovation into these two new areas. We feel, you know, very optimistic from that perspective that we'll be able to, you know, take advantage of that over time as we implement and execute on the measures we have highlighted. With that, I conclude, and we can hand over to Q&A. Over to you, Andreas. Very good. Thank you very much, both of you. We have a lot of questions coming in, mostly on the time synchronization side. I would like to start with the media side. Yep. I will come back to you. You mentioned these product launches that you have done. Maybe it could be good to explain how the cycle usually works when you launch a new product. How long does it take before it gets traction at the customers and orders? Yep May start to come? No. Yeah, a good question. What you see the initial reception from customers. Yeah, no, absolutely. Let's talk about the 520, maybe as sort of one example of that. I think, you know, I just came back from the NAB trade show, which is the biggest sort of, you know, Americas based trade show for our industry last week, and I think that's where we really launched the 520 to the market. I think it was positive reception on the 520 products. If you look at the process, typically what happens in this situation, it will be that people that are customer, new and existing customer will wanna get their hands on the product, maybe try it a bit, maybe do a proof of concept. You know, it's not as onerous clearly as on the sync side, you know, they want maybe just sort of understand it a bit more. Then they start to, you know, if they're happy with it, start to deploy and buy it then over time. It depends then clearly on the use case, because some might have a bigger rollout in mind and put it in more places. Some, you know, will just have a smaller need. Then as the customer grow and as the need grow, the, you know, step by step, it's, you know, we can ramp up. I think it's also fair to say we're dealing with product, you know, development here as well. When you launch a new product, you know, you don't have. You still have things that you need to fix, you know, with the software and so forth. You know, this is a very software-centric product, for instance. you still need to make sure you have maybe some extra features that's important for some customers, as well as just the stability on the product and that sort of until you kind of bed that down, and that usually, you know, takes, you know, some time. Depends, you know, three to six months, maybe longer and depending how complicated it is. Then stability comes, and then more customer interest builds over time. That's typically how it works, Andreas. You mentioned in Q4 that you said you need to broaden your customer base and take on more or new type of customers. Yes. You highlight this in this report as well. Yes, yes. Is that a result of the work that you have done, or is it more coincidence that this happens now, so to say? Also just as for the product side, what is the usual sales cycle process, add a new customer? If I zoom out and look at the customer segment we are covering, we're sort of big on selling into the service providers, the broadcasters, as well as some of the kind of, you know, production companies and so forth. We've seen now a new sort of segment coming up, which started by sports rights with some of this, you know, global media operators that we talk about. That becomes an increasingly important new segment for us, so that's very pleasing that we're able to get into, you know, two of those now. As we said, one in Q4 and one in Q1, so that's sort of one element. Of course, if you look at each segment, then we're not selling to all broadcasters and all service providers in the world, so we have more to do there to come into more of them. That's the other aspect of it. We're seeing sort of, you know, certainly progress on getting in this new segment and then also getting traction into breaking into even more new customers. I think it's, the sales cycle for getting into these new customers can be, you know, relatively, you know, long. It depends a bit. If you look at some of the, let's say, more the internet and cloud area, that might be a quicker decision and maybe a little bit less. If you're going to go in and displace a competitor, say, on the managed side, that tend to be a little more complex and to come in there. It also depends on the use case. If you look at a large service provider, you're going to displace their in a bigger part of the network, that again is a longer process. If you're looking at the broadcaster connecting, let's say, two studios for a broadcaster that have location in two different places in a country, connecting them up, that's a smaller decision, a smaller implementation, be a quicker decision. It sort of depends a bit on the scale and also to some extent on the type of customer. That's sort of, you know, the usually what we see. In terms of coincidence, I think, I think no. I mean, we've done some work during last year to start to break into and build towards getting into some of these new customer, and clearly hasn't happened in a quarter in terms of, you know, from first contact to a sale. It's a longer time than that to kind of present ourselves and make sure they can do some proof of concept and then they get to know us. It's been no, not in that sense, it's not been a quick impact, no, because we're taking measure. The measures on the sales side's been taking also earlier, in the, in 2025. Yes. Thank you. Moving into the synchronization side, can you explain why the sales in sync moved down to SEK 7 million from SEK 20 million when you say that Türk Telekom is in full operation and there will be a number of Zyntai deliveries in Q2? What does that mean that Türk Telekom now is in full operation? Does that mean that Q2 will have a better opportunity to increase sales again, or how should we see this? How is revenues recognized within the synchronization side? I think that Türk Telekom, what they have done is that they have acquired Zyntai for a longer time, and in Q4 they, and since they are launched the system now in the 1st of April, they bought it in Q4 a larger amount, and they deployed those during Q1. They had already the equipment that they needed in order to get to the full rollout. They are gonna continue, but we see that it's gonna be volatile, and that depends on that we need more customers to be in the base with rollouts and full operations in order to get an even revenue. When you write that it is a larger North American operator and a larger Latin American operator, just to set the expectations right, what do you mean by that? If these customers turn into fully operational rollout, how will that revenue be recognized? Will it be over a longer period of time, so that will sort of smoothen out the volatility? Yeah, and it's, it is over time. A rollout, it won't be a large order that we receive. We will receive orders continually during a maybe one to three years. It will come gradually during that period. Perfect. Let's see. The hardware investments you have done for 2025 for Zyntai, is there a risk that they are becoming obsolete given that it takes time to execute and converge these customers from pilot and field trials to actual orders? No, we don't see any obsolete. We have a stock of that is needed for us to be able to deliver to the customers. We have that in control, so no risk of obsolete for the Zyntai. There were no press releases on this North American customer and nothing on the European media customer. Why is that? I think that for regarding the press releases, we need to be cautious because I think that it's the rollout that is the big decision. When they decide to go into rollout, that will be an important press release. I think that we will continue to be cautious and not say too much until we get these real signals of that will impact our revenue. Can you comment on the progress in standardization related to Zyntai and can you specify where you are in the process? What milestones remains, and how this impacts the timeline for the ITU decision? If you look at the Zyntai's sync or standardization. In this summer, there'll be the first sort of key milestone on the, on the synchronous side, synchronization, standardization side. There'll be a key milestone. They'll continue after that for another kind of another two years to continue to be standardized. It's, it's not a, you know, a one defined milestone in that sense. It's sort of a number of phases that we go through. Think, you know, the next coming milestone will be this summer for the first, you know, clear step in terms of the of the standardization, which has sort of been the plan. We're moving according to plan is what you can say. You have now operators, and you have media, and you have, you mentioned also some utility companies that are in the process, so to say. You don't mention anything about critical networks in the report. It's a hot topic, so what do you see in that segment? I think that when you I think we have said, let's focus on conversion, and most of the customers we have in the pipeline are in the 5G area. You know, we do have some other prospects that are outside. We try to say, well, let's focus on the 5G. We still see opportunities in other areas, in power and sort of government defense and so forth as well. We do see sort of opportunities in those, but the main focus being on 5G because that's where our kind of go-to-market machinery is aimed towards. We do see. You know, 5G is mission-critical as well. I think when you look at the the mission-critical aspect of different networks, I think 5G is also one of them, clearly. You know, I think it's been pointed out that that's, you know, a mission critical for most nations, and that's what we also can see. Yeah, that's been the strategic plan to sort of, you know, really break in significantly in 5G and then start to move into other segments over time. Maybe the slide you had on the process give some indication on this. What would you say about the interest from potential customers, both new ones and the ones that are within the process? How has that developed during the last three months? On the Zyntai side? On the Zyntai side, yeah. Yeah. I think it's developing positively. I think, you know, the movement indicate that, you know, people wanna progress throughout the process. You know, they continue to be rigid in their evaluations of the product. I think it's sort of, in that sense, it's been positive. I think we have, you know, good activity in the different parts. Of course, you know, with the ones that do not move, you know, in a quarter, of course, they're not sitting still. They continue to be mature. We continue to be very active in working with them to respond to questions they have and continue to run the proof of concepts or the different sort of trials depending where they are in the process. A lot of activity kind of under the hood, you know, I mean, on top of the positive, progression we have seen. I'd like to ask also before we run out of time on the gross margin. It is relatively low, if you look at history, regardless if you do adjust for the amortization or not. Why is that? I know FX is part of that, but have you done any calculation how much FX is impacting, and is there any other aspects that we should be aware of, like input costs? We hear a lot about semiconductor prices coming up and so on. How do you see that going forward, right now and going forward? I think that what we have seen is that, I think looking back, we had an unadjusted margin, and that is the margin without amortization, has been around 70%, like 69%, 70%, and it's down to 66%. It has gone down slightly. The main effect is the FX. We also have, when we have larger deals, it impacts the product mix. That can be more hardware, and then the software-centric will come later, so that will impact as well. Regarding the cost price that you discussed, of course, we see that going ahead, we have those important parts of our product that will cost as well. We have a mix of the hardware and software. We see that since we are growing the software, this can even out the effect of the prices of both the cost of our product going up a bit, but the prices pressure going down. They will even out. We don't expect our gross margin to go down more. It's more effect of if the US dollar goes up again, we will be able to squeeze it up a bit, but it won't be a huge step up. For a simple person like me. Yeah You can say that you have a lot of currency exposure on the sales side. Yeah, yeah. but not on the COGS. No ... side. How is the business with the operator in Japan that was communicated before? How is that developing? That's one of these sitting in, in sort of that we're working intensely with, so that's also, you know, everything is just progressing. We just sort of, we just need to work through kind of the timeline and answer questions and, you know, follow their plan as well. That's still active at the moment. I got a question. It may be leading, but do you feel confident that Zyntai will be a success? I mean, I think we have. If you look at the interest, I spent some time at Mobile World Congress in Barcelona, you know, a couple of months back, and you can see the mission critical network banner in most people's stand and talking about it. You know, obviously we all feel, you know, the economical and/or the geopolitical situation in the world happening. You know, being making sure that the networks are resilient continue to be very important. You know, 5G is now, you know, being more and more important, not just for consumer, but over time also for business and enterprise customers, which means that the requirement on the 5G networks to remain resilient and not only have dependency on the satellite and so will be important. Uptime resilience will be critical, again, from a mission critical geopolitical aspect, but also from a business aspect for the 5G operators, I think. You have a lot of, you know, momentum in the industry around, you know, timing and precision time and so forth. I think the macro trend is very clear. We have a lot of interest. We've got a number of customers in the pipeline or prospects in the pipeline as you've seen. I think, you know, we feel very confident. All the data and all the facts that we have is pointing that we're really onto something here. Yes, we feel, you know, optimistic that this could be turn into something. Of course, you know, you know, we just need to push through and make sure we progress more deals in the pipeline to really prove that out. I guess, the reiteration of the financial, long-term financial targets is also, an indication of that. Yeah. That you do it again after being CEO now for a couple of more months. Yes and still confident. No, I think what we have said is that previously is that the financial targets that we have set, it's really, you know, to reach them really dependent on Zyntai taking off. I think we've been clear on communicating that as well. Yeah. There is another question just to understand the recognition of sales in the Time Sync business. Why is it lower, even if you have a full rollout in Turkey? Should we maybe see that as the strong number in Q4, that this is sort of if we smoothen those two out, that's the sort of run rate? I think that is hard to say because a rollout and full operations will not be, like, linear, in the demand from the customers. I wouldn't say that this low number is a something that is reflecting how it will be in the future. We will need, in order for it to grow more, we will need more customers. Question on the cash flow? It was strong, and you released some of the working capital. Yeah Yet the inventory is almost twice as high as it was last year. Yeah. The major part of that is still the FPGAs. Mm-hmm ... invested during last year. Those FPGAs, that investment is for the coming years, so it's nothing that is gonna happen during this year that it goes down. We will have a higher working capital and inventory for the coming years, but it will go down gradually. Has Türk Telekom taking out bigger parts ahead of their rollout, or should we expect continued strong deliverances even though lumpy within that project? Yeah. They still have a order book. Do you see a trend that customers awaits a standardization before they place orders? Not really. Not really. I think, you know, I think of course that's for a telco and in the telco industry, standardization is an important part of it. But we do not see, I mean, many have moved, as you can see, and that's not really kind of a key ingredient in some. I'm sure it might be a consideration, you know, of course. But I think that's why the progress that we are making is very important, is that people's feel that is, they got some line of sight and got some clarity on where we are and that we're moving ahead. I think everyone working in the industry knows how sort of standardization works. I think, you know, of course I cannot exclude that there'll be some customers where, you know, might be hesitant and wait, of course. That would be unreasonable. I think, you know, it's we don't see it as a big theme in any way into the customer conversations we're having that they're sort of holding back because of standardization. Is there any additional features that Zyntai could add or that you can develop Zyntai for that can expand the sort of usage within both existing and new customers? Yes, there is an element of that. When you think about, you know, we're on the transportation sort of side, not on the timekeeping, on the sort of clock side, in the Sync area. I think of course, you know, we can develop more and more features that make our product richer, and we come into sort of hybrid environment, for instance. We have a unique technology which no one else has, which is a really strength, of course. We, we see that we're getting more and more involved in more sort of standard type of requests as well, that is driven by the fact that we have developed and continue to develop the Zyntai feature set to be able to be coming into more other kind of hybrid requests. We have our USPs in terms of our specific technology that we can differentiate ourselves into those requests. Yes, there is an element of that, and I think it is not. It will happen a bit over time as we, again, similar to media, similar to any kind of product development. You know, remember we launched the Zyntai product in April 2024, so it is two years really out in the market. As we get into RFPs and engage with more customers, we learn exactly what kind of extra features they need as well. This is sort of ever ongoing project, and we continue to, you know, add more things into the product to make us more competitive and be able then and compete into, let's say, more use cases and more type of customer situations as we get involved with them across the globe. Another question on the precision timing. It's gaining traction worldwide, like Microchip building new factories and so on. Do you have enough resources to commercialize this opportunity, or are you looking for partners, like joint ventures or licenses or different sales channels? Yeah, we already are working with partners, and partners come really in two different sort of buckets. You know, bucket number one is go-to-market driven partners. We're a small company, we don't have the reach that's required to get into all the 800 5G operators around the world. We leverage partners that have the insights, the context, the reach, and the trust among these 5G. We have more than 20 partners around the world and more coming to handle the go-to-market part. That's how we kind of scale the go-to-market dimension and the reach. The other bucket is the rollout. Obviously when we win a deal, you know, rolling out these large projects all around the world will not be something we will scale up to do only with our team, that we will have a certain expertise and we will be core in sort of part of it. The big sort of flex muscle in terms of scaling will come also from rollout partners. We signed a couple of weeks ago a deal with WWT, which is a big integrator, U.S.-based but also present around the world in the telecom industry. These kind of partners will of course help us probably with both of these, getting into customers, as well as help with rollout, but it also gives us some level of market making. You know, that they're trusted and as so forth, yeah, among the customers. They'll help us sort of build and drive the market as well. That's also something we're mindful about. You know, how do we get more muscles to bring the message out around unique and strong technology so that just, you know, the word gets out there in a more significant way and not only dependent on the resources we have in the Net Insight business, but actually leverage the other partners to do all these things. Yes, we're scaling with partners is fundamental to our core, to our strategy for Zyntai. Perfect. We have two questions on the ESA. First of all, should we see that their involvement means a sort of a breakthrough? Secondly, if that helps you avoid a potential new issue? I think we should be seeing it as a recognition that, you know, first of all, we're on the core macro trend, you know, that they give a grant because they see, you know, what I think we all see in terms of the macro trend around us. I think it's in recognition of that really. I think that's that's the, you know, I think how people should read it. You know, again, as I mentioned, not a significant amount of money in terms of monetary return, but, you know, it signals that this is sort of something that people feel is on trend. I think that's how it should be interpreted. It's another positive sign, let's say. Then, on the cashflow. Yeah You have a strong cashflow in the quarter, I guess the ESA is a marginal part. Yeah. Yes, that grant will be, we will get the cash flow from that over time, as is since we are building the product. Final question, I think. No, there was some additional. Let's take those on the Zyntai side. Why are you not showing the order book as you did before? It's something that came from the order book that we had was built on the Türk Telekom deal that we set in 2021. Going ahead, we see that the orders that we will get from the new customers will not be on the same basis, so the order book won't be that relevant going forward. Orders will be smaller and booked faster? Yes. Some information about Zyntai in India. I mean, India is one of the markets where we're active. You know, it's, you know, one of the biggest, you know, mobile markets in 5G markets in the world. Of course, that's an area where we're very active, you know, as well as other core markets. I think it's not, you know, we're active on all the big markets. India is sort of one of the markets where we are, you know, trying to get into customers. On the cost reduction program, is it up fully up and running? Yes. Have you reached your targets, or should we expect more of that going forward? We have reached our targets, and we actually reached it in, by year-end, and we're keeping that going through the year. Of course, we are staying cost disciplined on all the things that we do now. I think that the effect is there, and we still continue to look at cost all the time. Very good. I think that was covering all the questions. Was a lot of questions. Very good to see that you are active on the Q&A side. Thank you so much. Good luck for Q2. Thank you. Have a great spring break. What we have here in Sweden when the spring is coming, even though it is very crisp outside today. Thank you. Thank you. Thank you.