Thank you very much. Yes, I'm very pleased to be able to talk to you today about our Q4 report. If we move to the next slide, please, which is the agenda. Today, we will first quickly go over what Readly is all about, then I will share some quarter highlights with you. After that, Johan, our CFO, will go through the financial performance, followed by some business highlights, then we will finish off with a short summary and a Q&A session where you will be able to ask questions. Next slide, please. What is Readly? Next slide, please. Just a quick reminder about who we are. Readly is a pioneer and category leader in digital, all-you-can-read magazine subscriptions. How this works is that for only EUR 9.99, or whatever the local currency is, a month, our subscribers have unlimited access to over 5,000 titles from now 900 publishers in 11 markets. We're available all types of devices, whether it's iOS or Android, desktop, mobile, tablet and we're very proud to have the highest App Store rating among our competitors. Next slide, please. I'm sure you're all waiting to listen to what the quarter brought. Next slide, please. Some highlights. We grew our subscriber base year-on-year at the end of December with 32.7%, so almost 33%, which was the third consecutive quarter where we increased the year-on-year growth rate. Revenue grew by 34.2% year-on-year to SEK 99 million. To the right here, you have a pie chart, that you usually get from us, showing in black. That is the share of our total revenue coming from Germany, still our largest market, followed by Sweden and U.K., and the rest of the world represents 16% right now. Some other highlights that you've been able to read from us is, you may remember in October, we renewed our agreement with Aller Media. All their titles remain on our platform. We've been continuing to improve our product and user experience, of course. For example, we've added several newspapers. I will come back to that a little bit later in the presentation. I'm quite pleased with how all our 11 markets are performing. If you think about the core markets, Sweden and Germany continue to deliver very steady, stable growth, and U.K., continued to stand out a little bit among our core markets with over 43% year-on-year revenue growth. That is attributed to many things like great partnership collaborations, good traction in all our marketing channels, and also good performance on daily newspapers. All in all, great quarter. If we move to the next slide, please? A little bit more on the full-paying subscriber. As you know, we only really focus on full-paying subscriber, those who pay full price. We always have a couple of months or a month or a couple of weeks trial period at the beginning. When they convert and start paying full, that's when you will see them in our metrics. We ended the year at 369,764 full-paying subscribers. We have double-digit growth in all our markets. Again, U.K., really delivered really well, as in previous quarter this year. We're very pleased with all our markets. There is a continued high interest for digital and reliable content. We have good user engagement and on the product experience side, besides adding more daily news, for example, we have improved our web presence. We refer to that as Readly Go. It's a low-friction way for new visitors to our website to get acquainted with the product before they've downloaded the app, and also easy access on mobile devices as well. We continue to work on product development going forward. I'd like to invite Johan now to talk a little bit about the financial performance. If you move to the next slide, please. Thank you, Maria. We can go to the next slide. On this slide, a quick reiteration of our financial goals. Our first goal is to uphold an annual revenue growth of 30%-35%. Second goal is to reach a gross margin of 35% long term, and the third is to become EBITDA positive within 4-5 years. Next slide, please. On this slide, we see full-paying subscribers, FPS, as well as revenue. If we start looking at the top chart, we see then the number of FPS for the past five quarters. Maria mentioned that this is our third consecutive quarter with increasing growth rate. If we quickly look through the quarters during 2020, we saw 21% subscriber growth in Q1. In Q2, that was 28%. 30% subscriber growth in Q3, and in Q4, we saw 33% subscriber growth rate ending the quarter at 369,764 FPS. The chart below shows our revenue for the past five quarters. In Q4, revenue was SEK 98.6 million, an increase by 34% compared to Q4 2019. We did see a strengthened Swedish krona during the fourth quarter, which made revenue slightly lower. On the other hand, we still saw benefits from the lower VAT rates in markets such as Germany and the U.K.,. When we enter 2021 now, we will start seeing more comparable VAT figures, although U.K., remains with a positive year-over-year comparison up until May 1st. Next slide, please. On this slide, we show gross profits and gross contribution. The top chart is gross profit, which for Readly means revenue minus publisher costs. Gross profit for the fourth quarter was SEK 33.6 million, an increase by 42.7% compared to Q4 2019. Gross margin continued to improve and was 34.1% in Q4. We are, of course, pleased to see this. I do want to remind you that gross margin will fluctuate slightly between quarters. Daily newspapers that we have brought on are good for our user engagement. Short-term, they could affect gross margin slightly. On the other hand, we will start rolling out Readly Insight in the near future, which will work in a positive direction. We remain confident reaching our financial goal of 35% gross margin. In the below chart, we see gross contribution, which now then is gross profit minus all marketing expenses. Gross contribution was -SEK 4 million in Q4, corresponding to a margin of - 4.1%. This is a significant improvement compared to the previous two quarters and also in line with what we have been communicating, i.e., that the heavy investment we did in brand-building activities during Q2 and Q3 did have a positive impact also in Q4. Next slide, please. On this slide, we see adjusted EBITDA, which was -SEK 36.4 million in Q4, corresponding to a margin of minus 36.9%. Also here, we've seen improvement compared to the previous two quarters, which correlates with the lower marketing spend. Personnel cost was SEK 20.9 million in the quarter, and we do expect slight increase in personnel costs throughout 2021. This is not only due to investments in product and tech, but also within analytics and growth. We believe this will yield over time and our financial goal to reaching positive EBITDA long-term remain unchanged. Back to you, Maria. Thank you, Johan. If you move to next slide, please. We are now going back to some business highlights. If you move to the next slide, please. Let's talk a little bit about our content. We added more than 100 new publisher agreements in 2020 and 800 approximately new magazine titles. This is a great proof point of continued interest and trust in us from the publishing industry. This quarter, I'm also taking the opportunity to mention something that we call Readly Exclusives. You see here to the right, there's a few examples of magazine issues where you see a ribbon across the corner where it says exclusive on it. We have done several collaborations, for example, with Egmont. You see Bamse here. We've done Donald Duck before, and we also done several other things like Scandinavian design and food and technical topics like cars or tech gear and other categories. We've added 10 new Readly Exclusives on Readly in Q4. Why am I bringing this up? It's a way for publishers to promote their brands and optimize their yield from their content. For example, translating Swedish magazines to German and English and distribute that abroad. For us, it's a good way to have close collaboration with and be of value to our publishers, but also to provide unique content on our platform that readers cannot find out anywhere. It's not a significant portion of our content, but it's just a flavor of things we do with our publishers that is beneficial for Readly and the publishers alike. As you know, we've been coming out with a steady stream of great news, literally, newspapers that we've added to the platform, starting with Aftonbladet early in Q4 and finishing off or just after the year ended, we also announced daily newspapers from Axel Springer in Germany. Bild, for example, in terms of circulation, it's Europe's largest daily newspaper. We now have daily newspapers in six markets, including our all three core markets. We are a magazine app, why do we keep adding daily newspapers? I think it's a great service to our readers. It both serves acquisition and awareness of Readly, and it also promotes engagement, daily use of the app, which promotes long-term retention. Let's move to the next slide, please. Something that you keep hearing from us is also about partners. It's important part of our strategy to continuously expand our collaborations and reach through various types of partnerships. The Q4, we signed as much as 20 strategic partners. Wanted to mention Revolut Bank as an example. It's the neobank where we are part of their reward section for loyalty and retention of their users. Another example is MediaMarkt. That is one of Germany's biggest tech retailers. They're also available in other markets. For now, we're working with them in Germany. We, for example, we have multi-touch points, both in their digital presence, but we also have inserts of offers for Readly in packaging when they sell various types of devices. Just a flavor of what we've been signing up this quarter, but we also done 100 new tactical marketing partnerships, meaning sort of selected limited campaigns. It will continue to be a strategically important channel for us also in 2021 and beyond. Next slide, please. In the business section, over time, we'll try and give you a little bit more flavor of our business as well. That may not only be relevant to the past quarter. This time, we wanted to give you a short flavor of our three core markets, Germany, Sweden, and the U.K., Germany, we talked about that before, it's our largest market. To the right here in the graph, you see total addressable market in million US dollar for each of these, and the orange part there is digital channels, and the gray is print editions, and this includes both marketing and circulation. Germany, it's not a coincidence that it's our largest market because it is the largest market for newspaper and magazines in Western Europe. They have quite good willingness to pay. It was quite early on introduced paywalls from the publishing industry on digital outlets. They are not used to getting a free lunch when it comes to quality content. If you look at our demographics, we have a little bit more male readers at the moment than female. 60% of our German readers are male. If we move to Sweden, which is our second-largest market, one recent fact that you may have picked up on is with Mediavision, which is the Swedish media coverage outlet. Subscription fees overall in print actually increased in Sweden in Q4 2020. This is believed to have directed more consumers towards digital subscriptions. This is no surprise to anybody. I think we see that all the time, that even though there is a slight decline over time in total magazine revenue in the world, the digital piece of that is steadily increasing. Sweden has, according to Reuters, among the highest willingness to pay for digital news. This is about news, not magazines, but I think it also attests some of Sweden's digital habits. When it comes to the gender on demographics on Readly, males represent 37% and females 63%. If we move to the U.K., the U.K., is currently the core market with the highest digital penetration in the market. Interestingly enough, maybe, is that there is a significantly high penetration among younger generations. Younger generations in the U.K., really enjoy traditional magazine content, but they prefer to read it online. We have a lot of great collaborations with the publishing industry in the U.K., which of course is great for us. Around 20% on average of open titles on Readly is on international titles, so titles from another country than the reader resides in. Of course, German and English are languages that are spoken in many, many countries. That is a great strength that we have. It's a little bit more balanced between male and female readers in the U.K., If we move to the next slide, please. Looking at our strategic growth agenda, I've talked about this before, but I think it can be reminded that our strategy is to maintain and strengthen our position as the category leader in Europe in this sector. We do that, for example, through continue to add great titles in special segments. We have a lot of titles, but there is always a room for high-quality content, specifically in certain segments. We continue to focus on product development, where the focus this year is especially on mobile experience and to drive user engagement. Data is always at the heart of Readly, both for our own product development, of course, but also we plan to roll out this year commercially Readly Insights, which is a data product directed towards the publisher. We will continue to expand our commercial partnerships and work on the brand awareness, just of Readly in particular, but this entire sector. If we move to the next slide, if we quickly summarize. Next slide, please. All in all, it's a strong quarter, the fourth quarter, with an increased subscriber growth pace. We continue to focus on improving the product and user experience. We've added several high-profile daily newspapers in Q4. We had great traction on commercial partnerships, and a strong intake of FPS across the board. I think we have a very interesting strategic growth agenda for 2021 and onwards. If we move to the next slide, we open up for questions. Thank you. If you do wish to ask a question, please press zero one on your telephone keypad. If you wish to withdraw that question, you may do so by pressing zero two to cancel. There'll be a brief pause while questions are being registered. Our first question comes from Derek Laliberté from ABG. Please go ahead. Your line is now open. Yes, good morning. I'd like to ask or confirm about looking at the revenue growth, and the ARPU development in relation to the subscriber growth. Subscriber growth looks quite high. Got you. I just presume that given that subscribers are reported as of the end of the quarter, this means that you had more subscribers coming in, say, in December at the end of the year. Is that true that this is the explanation here? Yes, that's true. We have different lengths of trial periods and campaigns, and of course, December is a good timing to do push extra gift cards and what have you. That is the correct assumption. Oh, great. Then on that, do you have any date or historical tendencies if these subscribers coming in at this time of the year tend to stay for the longer term? I mean, obviously they are Full-Paying Subscribers, so they've stayed for a couple of weeks, I guess, at least. No, there is no specific different pattern in retention. I wouldn't say that, no. Got you. Let me see. I was wondering about the gross margin increase. Quite impressive at now 34%. Really again, not that far from your longer-term target. Could you just talk a bit about what's driven this in terms of if it's revenue share agreements? You mentioned something about that. If you could be more specific on that. Thanks. Yeah. Thank you, Derek. As Maria mentioned, we have onboarded and welcomed many new publishers in the fourth quarter. We have been successful in some of these discussions. Also looking at transaction costs, when our ARPU increased, some of the transaction costs are fixed, meaning the share goes down then as our ARPU goes up. That explains most of it. I do want to highlight that gross margin will fluctuate slightly between quarters, and we will continue to prioritize growth before profitability. Great. What do you expect for 2021 here? You mentioned that some of the dailies I guess might bring down the gross margin on a relative basis, but at the same time, you're planning to roll out Readly Insight. Should we overall expect a steady gross margin year-on-year, or what should we expect there? I think you should expect that we remain confident in reaching our financial goal of 35% long term. It can go up and down. As you say, we have dailies adding some costs, but we'll have also Readly Insights and other interesting things. I remain confident about reaching our target. All right. Sounds good. On Readly Insight, you mentioned they're rolling out during 2021 here. Specifically, what's going on there? Is there anything you could possibly share about that? Yes. I think you should assume that we will start rolling it out, but of course, it will take time to roll out and sign agreements with partnerships with our publishers over time. It's not like it's going to be an explosion of 900 publishers implementing this in 2021. Assume that this is going to be the first year where we start rolling it out to a few publishers and then gradually over the years, adding more. At this time, we're not prepared to talk about commercial terms externally. All our publishing agreements are, of course, confidential. We do expect long term that it will have a positive effect on gross margin. It's part of our long-term ambition of 35%. Okay, makes sense. I just wanted to ask you also on, You've seen some improvement in your reactivation levels here of users that might have discontinued the service previously. What's driven this improvement here? Is it something you've done differently in your campaigns or efforts to reactivate, or is this just something that's happened, basically? No, I think we're getting more and more professional and experienced in our CRM, of course. I think that's part of the overall brand awareness and the good offers out there. Nothing unusual besides the continuous optimization and getting better all the time at a lot of things. Gotcha. On Sweden, I see here the growth rate was a bit lower before. Now it's picked up again. It was at 22%, I think, in the quarter, year-on-year. What's driven this? Have you done more on the marketing side, or is it also here more about just increased awareness and generally good momentum? Yeah, I think it's a little bit of everything. There is a steadily increasing awareness, of course, of Readly, also at the back end of IPO and PR. We also have good partnerships in Sweden, good campaigns, Christmas time with great gift card sales, and so I think it's just continued steady, good delivery on our plan. Cool. Finally, on the rest of the world there outside your core markets, is there anything to highlight there? Any market that sort of is really having good momentum and perhaps starting to become a new core market for you or anything else to highlight there? Yeah, we're growing quite fast in all our markets. You may remember that last quarter, rest of world represented 15%. Now it's 16%. Many secondary markets are contributed to this. I think it's very interesting to see how U.S., is developing. We have good traction in the U.S., and Austria is another example. We introduced Readly in Austria, and we have a lot of German content, Switzerland. I guess Austria and Switzerland are quite small markets in terms of just general population. Whether they will be one of our next core markets, I guess remains to be seen. I think I'm very positive about all our secondary markets, but I would say, U.S., is an interesting market as well as the German-speaking markets. All right. Thank you. That's all from me. Thank you. Thank you. Our next question comes from Christopher Carvell from Handelsbanken. Please go ahead. Good morning, guys. Thank you for that fine presentation. I was wondering a bit, you're not giving a specific guidance for 2021, which I appreciate. Is there anything you can give us on that? You were talking about the contribution margin in 2020. Any color you could give on that, and also to build on the 2021 story. Will the focus this year be on growing and expanding your current markets, or is new market expansion a big piece of the growth story? Good questions. When it comes to contribution margin, I think what we said in the report is maybe not on the total level, but we sort of indicated that marketing spend and campaigns would be a little bit more evenly distributed. Maybe giving you a hint about to what extent contribution margin will fluctuate between quarters to the same extent as it did this year. You may recall in Q1 of 2020, we had quite low marketing spend versus Q2, for example. There was quite large differences, which of course influences how the growth turns out over the year and also the contribution margin between quarters. This year, we're going to do a more regular campaign frequency over the quarter. That's maybe something to think about as you look at it on a quarterly level. We continue to invest in both conversion and more digital brand awareness type of activities. I'm sorry, what was the second question you asked? It was on the 2021 growth story. Is it mainly going to be? Yeah concentrated on the core markets or existing markets? Yeah, it's a good point. I'm not ready to announce any new markets yet. I think we said on average, over the next sort of three-year period, we'll probably enter around one market per year. We should remember that the near-term growth always comes from our existing markets, and new markets, when we enter those, it's more seeding for our future. Especially given we're in an immature type of product category in many markets, when we enter new markets, usually it's not just that people are not aware of Readly. They are a lot of the time not used to reading magazines digitally at all, which means that it takes a number of years to build a new market. It's important to enter new markets for the long-term growth. In the next year or so, you can expect growth will come from our existing markets. Thank you for that. If I may add two more. On competition, we had Bonnier launching a new service called Arcy in Sweden, right? You had previously talked about Cafeyn being quite aggressive, I think, particularly in the U.K. If you could expand a bit on the competition and what you are seeing both in Sweden and U.K., and also maybe in Germany. Yes. On Bonnier, I believe they've already had a service earlier. It was called Wype earlier. We haven't really seen a massive sort of shift in the competitive landscape in Sweden, more than maybe rebranding or relook at what they're doing. We're always very humble about competition, but I wouldn't say that what Bonnier has done so far has changed the competitive landscape in Sweden. With the same with Cafeyn, actually, there is no new major moves that they've made. As I talk about earlier, I think if you look at what happened with streaming of films and TV series, the sort of the best thing that happened to that industry was when Netflix came aboard, and it created massive success for any service at that time. The ones that were more early and so on. Having a few players in a market that is doing campaigns and marketing and raising awareness, it is not all bad, I would say. There is no major change, if any, I would say, in the competitive landscape at the moment. Okay. Thank you very much. Thank you. As there appear to be no further questions, I return the conference to the speakers for any closing remarks. Okay. Well, thank you very much for all of your time. I think that's it for today. Thank you. Have a good day.
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