Hello, and welcome to today's webcast presentation, where we have OssDsign, who will be presenting the second quarter for 2023. With us presenting, we have the CEO, Morten Henneveld, and CFO, Anders Svensson. If you have any questions for Morten and Anders, you can use the form that is located to the right, and we'll take that up during the Q&A section after the presentation. With that said, I'll hand over the word to you guys. Please, go ahead with your presentation. Thank you. Thank you very much. Welcome to this second quarter of 2023. My name is Morten Henneveld. I'm the CEO of OssDsign. With me, I have our CFO, Anders Svensson. Today, we want to walk you through our Q2 results and also the highlights of the quarter. As always, when we do these presentations, the normal disclaimer. When looking at the highlights of the second quarter, we had another record sales quarter, and we're very pleased with the momentum that we see in the business. We continue to see sustainable and accelerating growth. The quarter was also transformative in the sense that our orthobiologics business or bone graft franchise became the biggest in terms of revenue contribution, and of course, it was already significantly bigger in terms of gross profit contribution. We're now also increasingly becoming a U.S.-dominated company, and we continue to see extremely strong development in the U.S., with the fifth consecutive quarter of triple-digit growth. Importantly, we've also seen a very positive development on the customer base, as we've now won several long-term contracts with large hospital systems, so-called Integrated Delivery Networks, or IDNs when you abbreviate it. I will come back to this a little bit later. Lastly, the quarter also clearly demonstrated the scalability we now have in the company, and we are now showing operating leverage, which Anders will talk to in greater detail later on. With that, I'll hand you over to Anders to walk through the financial results before we go into the highlights in a bit more detail. Thank you, Morten. If we turn to the results for the second quarter, we reported SEK 24 million in sales, which equals outstanding 92% growth versus the same quarter last year, and 79% growth in the, on a constant currency basis. As Morten mentioned, we are seeing a very sustainable and accelerating growth in the business, what you see here in this slide is the last six quarters, with the bars being quarterly sales and the circles above showing the growth rates in constant currency against the same quarter the previous year. As you can see, sales are increasing at a very meaningful rate, we continue to be a high-growth company. Looking at where the growth is coming from, you can see that the US business clearly accelerated again in Q2 with SEK 17.2 million in sales, continuing the strong momentum that we've seen now in the last many quarters. It came in at a spectacular growth of 148% for this quarter, and that's 5th quarter in a row of triple-digit growth in the U.S. The share of total revenues from the U.S. increased to 72%, compared to 55% in the same period last year. The markets outside the U.S. also showed good growth, 22% versus the same period last year, and this is despite a significant deterioration in the availability of hospital staff in Germany, our main European market, which impacted basically most of the quarter. All in all, a very strong quarter yet again. As usual, I want to deep dive a bit more on the U.S. and how the U.S. is not only taking off but also showing sustainable growth with the more hospital approvals, more customers, and clearly driven by the acceleration of U.S.... Oh, sorry, OssDsign Catalyst. Now, what you see in this bar chart is the last 12 months' sales in each bar. We started to see this trend in Q2 of last year, and now this has accelerated further in the second quarter. Again, it also means that the last quarter alone has contributed with more incremental sales in absolute terms than it took the company to reach in the first five years in the U.S., clearly highlighting the exponential momentum we have in our U.S. business right now. Very strong development, and we're highly satisfied with that one. In line with our strategy, we're becoming an increasingly US-dominated company. As you can see, in only a few years, the U.S. has grown from being about a third of the business to now being 72% of sales in this quarter. We expect this trend to continue in the coming quarters and years. Why is this important? Well, with significantly higher prices in the U.S. market, accelerating in the U.S. will be key to future revenue. Equally important, it will be highly accretive to future margins and therefore the profitability in the company. If we move on to the split by franchise, we continue to see a very healthy development in both businesses. If we start with Cranial, we reported sales of SEK 11.7 million. Growth in the quarter was adversely impacted by the aforementioned deterioration in the availability of hospital staff in Germany, which impacted most of the quarter. Sales for the first six months ended at SEK 24.4 million and 47% growth. Moving to our bone graft franchise then, we saw a further acceleration in momentum during the quarter because of more hospital approvals happening. Whilst I wouldn't pay too much attention to the growth numbers, as this is still too- it's so early that the comparative base is very small. Reporting SEK 12.3 million in sales during the quarter is a significant acceleration from the previous quarter, and clearly indicates the scalability and also the transformative potential we have with OssDsign Catalyst. Our sales for the first six months ended at SEK 21.2 million, and that's 614% growth. As you can see, the strong Catalyst numbers also means that the bone graft increased to 51% of the sales for the quarter, and therefore became, for the first time, the biggest franchise in the company. It also means that OssDsign Catalyst continues to become a larger and larger part of the business, and due to the higher gross margin, will positively impact both profitability and cash flow in the future. For the first six months, the bone graft franchise is 46%, cranial is 54% of sales. However, because of the high-quality earnings coming from OssDsign Catalyst, the bone graft franchise's profit contribution is significantly higher than the sales split. For the first time, we now also disclose the gross margin, the underlying gross margin in the company. In the 2nd quarter, the gross margin continued to develop very favorably and reached an impressive 77%, increasing nine percentage points against Q2 2022. For the first six months, gross margin was 76%. That's an increase of 14 percentage points against the same period last year. This increase can all be attributed to the acceleration of the OssDsign Catalyst. As this is the first time we disclosed this figure, we also wanted to give you some context. On the slide here, you see the gross margin development in OssDsign since 2020. Although I think that the chart speaks for itself, you can see how we have dramatically increased the gross margin over the last years as we entered the orthobiologics business and successfully launched OssDsign Catalyst. Personally, I've worked in many companies over the years, but I've never been part of such a steep increase in gross margin during such a short time. We're, of course, very pleased with delivering such a strong gross margin. I think it's also worth noting that this level is well above the average across the orthopedic industry, and as our bone graft franchise continues to become a larger part of the company, it will continue to be accretive gross margin. We are now starting to see the expected operating leverage in the company, as we've also indicated before. However, as the comparisons year on year is heavily distorted by the fluctuations in exchange rate, and most notably, the US dollar hedge, where we took a position a while back now, we felt this needs just a little bit more explanation and detail to ensure that everybody reads the underlying development correctly. On the slide you can see sales, other income, which is basically the revaluation of our US dollar hedge and the reported operating profit. If we start with Q2 last year, we had SEK 12.5 million in sales and SEK 4.2 million in other income. That's quite a big part, being revaluation of the hedge, which led to an operating profit of minus SEK 24 million. The other income was then 25% of total revenues reported. In Q2 2023, we have SEK 24 million in sales, and only SEK 1.5 million in other income, which therefore only represents 6% during the quarter, and leading to an operating profit of minus SEK 20 million. That is an operating profit improvement or operating leverage of plus SEK 4 million. However, when you normalize them for the hedge effect, which is unrealized in cash terms, that leads to an underlying improvement in operating leverage of SEK 6.7 million, or equivalent to 24% better. Albeit we haven't crossed the finishing line yet, what you see here is a clear sign that the current trajectory of the business is also improving the profit line as a result of the continued acceleration of OssDsign Catalyst, whilst operating expenses have stabilized. I will now hand you back to Morten, who will talk some more about the key highlights and achievements we've seen. Thank you, Anders. I wanted to come back to, to a very positive development we've seen in the customer base, in the U.S., which of course, contribute to the accelerating, but also equally important, will contribute to the sustainability in the sales going forward. This is what I talked to in the beginning, called the Integrated Delivery Networks or IDNs. I appreciate that not everybody may be familiar with what this important type of customer is. Let me just try to explain what an IDN is. In essence, these are large networks of healthcare units and facilities that offer a full range of healthcare services, and they constitute a very important part of the U.S. healthcare system. What makes them important are really two things. One, they represent very large volumes, as they typically have many hospitals in their system. The second way, the second reason they, they contribute is also that they conduct a very robust and thorough assessment when selecting new approvals. Much more similar to what we know from tender contracts this side of the Atlantic.... Therefore, IDNs also serve as a blue stamp of the high level of innovation we bring to market, and therefore, something other potential surgeons will look to when they're selecting their products. Winning these long-term contracts with the large hospital system, these IDNs, not only means that we significantly broaden the commercial opportunity right now, but it also means that it keeps that opportunity open for the years to come as we move into 2024 and 2025. Hopefully that's clear to everyone, that winning IDNs is a big step forward, and actually quite early in our commercialization phase that we've managed to get into these contracts now. That is, of course, something we are extremely pleased with. As always, I also want to give an update on how we deliver on our strategy. As you can see, we continue to execute well, and we accelerate value creation in the company. Our first priority is to win in the U.S.. We focused a lot on the U.S., and as you can see, we are delivering to that plan. The business, as Anders mentioned, has now been running in exponential growth mode for the last many quarters and now have five consecutive growth quarters of triple digit. The last 12-month momentum is also up about three times. It's now 72% of our revenue, creating a much healthier mix in the business. The growth is sustainable with a broader customer base, with more users, more recurrent users, and now also with the addition of these long-term IDN contracts. The second priority is to build an orthobiologics business. With $17 million in sales in the first year, and now in the second quarter, becoming the largest franchise, with well above 1,000 patients treated, and the fact that we have attracted leading surgeons as ambassadors, are all testaments to the successful launch. That means we are well on the way and have set up the company for continued acceleration. Our third priority is to innovate the portfolio. New product development, as you know, in the medtech field, takes time. We've already now launched the first line extension with Catalyst 1cc, and we will be launching more product in the years to come. Our fourth priority was to accelerate our clinical effort and to make some significant strategic investment in this area. This was not only about doing more, but more importantly, to fundamentally implement a new clinical agenda to do programs in the markets we're operating in, with real surgeons and with real patients. I think the rapid uptake in the market since launch confirms the large potential we have with OssDsign Catalyst. Really, to fully capture that opportunity, clinical evidence to support this differentiation will be required, and therefore, we are making these strategic mid to long-term investments to produce clinical evidence as cost-effectively as possible. By combining a small clinical study, which is our TOP FUSION study, that I hope many of you are familiar with, with a prospective multicenter registry in the US, which is PROPEL, we will build a stronger clinical evidence in a fast and cost-effective way. I'm sure many of you saw the press release we, we sent out a few days ago, where we've now exceeded 200 patients in PROPEL. Whilst these investments, of course, adversely impact operating profits in the short, short term, we believe this is a well-balanced approach that will enable us to drive the growth of OssDsign Catalyst, building a substantially bigger and more profitable business in the years to come. The fifth and last priority, excuse me, is driving operational efficiency. As you know, we've cut cranial PSI lead time by 40%, I think more importantly right now, as Anders talked to, we are now seeing operating leverage coming into the company, as we also indicated previously. As you can see, we have delivered on key promises in the strategy. We are significantly increasing value creation and building a stronger company with much greater scalability. Now, during the last three to six months, we have received quite a lot of questions about where we see value and how we see value distribution in the company. What you see on the slide, and what you also heard Anders talk to in today's presentation, and which has been evident over the last many quarters, it is a fact that we see a lot of value creation coming from our new orthobiologics business. It means that OssDsign is increasingly becoming a US-dominated orthobiologics company, which is completely in line with the strategy. What you see on this slide here specifically, is we try to attribute the main reason for actually executing so well on our strategy to either the cranial, which is the blue, or to OssDsign Catalyst, which is the pink. As you can see, this slide is a lot more pink than it is blue. Why is this relevant? It essentially means that our orthobiologics business has significantly changed the profitability profile of OssDsign. We're seeing significant business shift, with bone graft now being more than 50% of sales, of course, as I said, even higher on gross margin, or gross profit, with the U.S. now being more than 70% of the business. That means that it significantly increases scalability in the company. It means that we operate with higher ASPs, it means we'll continue to deliver increasing sales and increasing margins also in the quarters and years to come. Finally, as we now also see, as Anders mentioned, stabilizing cost levels, this will inevitably also translate to improved operating leverage. All in all, when looking at OssDsign, it is a significantly changed and improved profitability profile that exists now in the company, and also a profitability profile that will only improve as we move forward, and this business shift continue their current trend. With those final words, I wanna thank you all for listening to the presentation, and I'll hand back to the operator for questions. Thank you for that presentation. Now we'll jump into the Q&A section, and we'll start with the first question here. Lately, you have repeatedly pointed out that TOP FUSION will not deliver a statistically robust result regarding the fusion rate. Considering this, what should be seen as a good fusion rate in the study, and what would a bad result mean for OssDsign? Well, thank you very much for the question. Yeah, I think there's a little bit of a contradiction in the question because, as we've said before, with 17 patients, you, you cannot report a fusion rate, which is statistically significant. What, what TOP FUSION will give us is a very profound understanding and very profound evidence on very regular time points on 17 patients, of we actually said 15 evaluable, on how the product is performing, how it is interacting with the human body, and also how we see speed of fusion happening. What do you see at three months, at six months, at 12 months, and so on? It will give us very, very profound evidence, which we, of course, will be taking to market and partly are using, as we commercialize right now on the NDA with surgeons to show them preliminary data. I, I won't go into what, what potentially a bad fusion rate could be. I think we'll have to get the data when we get it, and then we'll, we'll, we'll share that with everyone. Okay, thank you. When you get a new customer in the U.S., how does the development of that account typically work? If more work is required for the customer, how much of that falls on OssDsign, and how much of that falls on the independent distributor? Is there a difference between Cranial and Catalyst when it comes to this? Yeah. I think that's a number of questions. Let me try to do them one by one. First of all, yes, there is a big difference between Cranial and Catalyst. Cranial is a much more intimate sales. It is a high touch, what we call a high-touch sale, where we are deeply involved in interacting with the surgeon on selecting and designing the specific solution for any given patient. OssDsign Catalyst is significantly different, given that it is a consignment product. It is on the shelf. That also means that once a, an account is up and running, it's typically, you know, you get through a VAC approval with, with one surgeon who's the champion. He or she starts using it. At that point, we tend to hand over to the distributor, who do the heavy, the heavy lifting on a day-to-day basis. That's also what we are paying them commission, commission for, of course, so we expect them to keep driving it. A, and a typical development is that you go through the VAC approvals with one, one doctor championing that and getting it approved, and then gradually, over time, that surgeon will start to use you in for more and more cases, more and more types of procedures. Of course, our aim also is over time, that more and more of his or her colleagues will start to use the product. That's a, that's a quite, that's a quite typical process. As you can also hear, the scalability is just significantly bigger on OssDsign Catalyst, because once the hospital is up and running, we have someone else to take over, and then we can start to target the next, the next surgeons and therefore build the customer base significantly bigger and faster. Thank you. Cranial PSI seems to be an excellent product, so why has the recent sales number not been any better? If I'm not mistaken, sales of Cranial in Europe has now decreased over the last two quarters and decreased in the U.S. during Q2, in spite of the improved lead time for that market. Yeah. Yeah, no, no, thank you for that. Well, first of all, I think, you know, Cranial is growing by 47% year on year, right? I think that, before we get too carried away, I think we should be, be pretty happy with the 40, 47% growth year on year. It is, it is a fact, as you know, on, on, on Cranial PSI, it is a much more volatile business when it comes to electric procedures, knowing that brain surgery, after you've done the acute phase, the craniotomy, then the second phase, does fall lower down on the priority list relative to, to other medical disciplines. That is what we've seen in particular here in, in Q2. As we also announced, we saw many accounts in Germany dropping from 100 to index 20 due to a significant deterioration of large shortages. As long as you're dealing with the aftermath of, of the COVID pandemic, in that sense, it is inevitable that you will see some kind of fluctuations on the, on the cranial sales. Unfortunately, that is the environment we are, we operate in today. Having said that, I think it's very clear that you can see what OssDsign Catalyst and the orthobiologics business is doing, doing to the company. That is, of course, something where we, we also focus a lot, and we put a lot of our investments and effort into right now, which clearly is having a profound impact on, on both the, the current performance in the company, but also, as I mentioned, the future, both growth and profitability profile. Perfect. Thank you. Next question. Great quarter. Congratulations. Can you provide some color on the future for the Catalyst growth? Can one expect, in terms of sale, Catalyst quarter-over-quarter growth to continue at the same pace or even, in fact, even accelerate? We, we don't normally provide forward-looking statements, right? We think it's a very good development right now, and I, I don't see any reasons why it would stop, but we're not gonna talk about future numbers. If I can just add, I think as we have said several times before, growth is not necessarily gonna be linear. It's gonna be more like a staircase. I think some of the acceleration you see right now is a result of us winning these long-term IDN contracts. It may plateau a little bit before we get the next one in, and then it accelerates again. I don't think anyone should, should think about growth as being linear. It will be more of a, of a staircase. Of course, we do expect that it will continue to grow, and it will continue to grow significantly faster than our cranial business. The IDN contracts you mentioned, have you already seen the effect of those in sales, or is that still to come in future growth? Yes and yes. Yes, in the sense that we have already seen it. We got the... I think we won the first contract during the first quarter, so that certainly contributes to some of the acceleration. This is, of course, not something that, that just stops once we, we had one or two. We want to keep, keep winning these contracts. As we're winning more and more contracts, of course, we also expect that to continue to contribute to growth going forward and accelerate growth going forward. Perfect. Thank you. Can you please provide an update on the clinical activities for Catalyst, TOP FUSION, and PROPEL? When can we expect to see results and updates from, both of those? Yeah. Things are going, I would say, absolutely according to plan. TOP FUSION, we now have patients who, final patients are coming in for their one-year checkups. You need to look at the data, extrapolate it, get a third-party independent review on it, and then you need to write it up and publish it. That will happen in the first half of 2024, as we've previously said. The same thing on, on PROPEL. You can see right now, we just exceeded 200 patients. We are increasingly also looking at the, I would say, building quality and credibility of the implant, so we now have some extremely noteworthy centers coming in, to that registry, and we also expect to start publishing, first, or getting the first publication from that registry, as we come into to 2024. So 2024 will be really be the year where you will see us bringing more clinical evidence and more papers to the market. Thank you. Your growth rate is trending positively. What factors would you say are driving your growth in this direction? Well, I'd say it's, it's the U.S. and Catalyst, and, moreover, in the last few quarters, it's been mainly OssDsign Catalyst. Perfect. Thank you. We'll take one final question here: What can investors expect from OssDsign in the remainder of 2023? Well, I think you can expect what, what we've been doing for, for the last many quarters now, which is that we, we deliver to, to the promises that, that, that we're giving, that we, we are building a, a business that continues to be high growth. We are building a business that increasingly, as you've seen, will show better and better profitability, that will show increasingly better leverage, as we move forward, and that will continue to focus on in a cost-conscious way, invest in clinical programs to generate clinical evidence to make sure that it's also sustainable in the years to come. Okay. Thank you very much, Morten and Anders, for that presentation and answering all of our questions. A big thanks to all of the viewers who followed along, OssDsign's Q2 report for 2023. Hope you have a great rest of the day, until next time, thank you very much, goodbye. Thank you very much. Thank you very much.