Thank you. Welcome to the presentation of this Q1 from Readly. I'm Maria Hedengren, the CEO, and with me, as always, I have our CFO, Johan Adalberth. Let's move to the agenda on next slide, please. As always, we start with a short presentation of who we are, then I will take you through some quarterly highlights. Can you move to the next slide, please? I think we're on the wrong slide. No. We will have a financial performance review by Johan Adalberth, and I will walk you through some business highlights with the summary and Q&A. Next slide, please. If we move to the next slide. What slide are we on? I'm sorry, I can't see if we're on the wrong slide. Okay. Next slide, please. As you know, we are the European category leader in digital magazine subscriptions with our 900 publishers in 11 markets and 5,000 titles of high-quality content. It's an all-you-can-read service for only EUR 9.99 a month. You can read as much as you like. If we move to the next slide, please, where you see the Q1 highlights. We had a strong subscriber growth year-on-year with 36.8%, almost 37%. We continue to see double-digit growth in FPS in all of our markets. Revenue grew by 32% year-on-year. We see, as I said, great growth in all markets, but U.K. continue to stand out among the core markets. You can see on the pie chart here to the right that U.K. and Sweden are now side by side with 23% each of our total revenue. They are pretty much equal in size now. Germany continue to be our largest market, and the rest of the world representing 16%. The growth is coming from continued successful execution on our partnership strategy and optimization of all our marketing channels. We had great traction in our channels, and we also have continued focus on our content category excellence strategy. We will walk you through some more detail later today. If we move to the next slide, please. We are looking at one of my favorite charts. This is showing the development of our subscriber base here to the left, and you can see how we steadily, every quarter, keep growing our subscriber base and have for many years and continue to do so. We now ended the quarter at 397,071 full-paying subscribers, and the year-on-year growth of subscribers, again, as I mentioned 37%. We talked about U.K. earlier, the other core markets are also growing steadily according to plan. Germany and Sweden grew around 19%-20% year-over-year in terms of revenue. If we're looking at Germany, for example, we actually had an increase in VAT rates in the German market in the first quarter, and we also had some headwinds from currency effects. If you adjust for that, Germany actually grew with more than 25% in the quarter. They are delivering steady growth, all our markets. If we continue to the next slide, then Johan will talk some more about how our financial performance developed during the quarter. Thank you, Maria. Financial targets on page number nine. Have you listened to our previous earnings calls? You've heard that we've been delivering on our financial targets so far. I will soon walk you through the figures for Q1 and again conclude that we continue to deliver on our targets. Our first target, revenue growth, was in line with target also in Q1 with 32% growth. Our second target, to reach gross margin of 35%, is already within reach despite the target being long term. Our third target, towards profitability around 2025, runs according to plan, although we will continue to invest in our product, in brand building, and in our staff in the coming years and beyond. Next slide, please. On this slide, we see the development for subscribers and revenues. Looking at the top chart, we see that the number of subscribers grew by more than 27,000 net in Q1 and ended the quarter at 397,000 FPS. This corresponds to a growth of 37% year-on-year. Looking back one year at the end of Q1 2020, we have welcomed well above 100,000 new full-paying subscribers during the past 12 months, and we are now approaching the 400,000 mark. This is a good figure, and I would also like to reiterate that we on average have around 2.4 user accounts for each full-paying subscription. The strong subscriber growth is good to see, and we are now from the current second quarter entering into strong comparable quarters for the remaining part of the year. The chart below shows our revenue for the past five quarters. In Q1, revenue was SEK 102 million, an increase by 32% compared to last year. U.K., as Maria mentioned, continued to show strong growth of nearly 66% compared to last year. ARPU was slightly lower in Q1. This was partially affected by FX, but also VAT in Germany, up from 5% in H2 2020 to 7% now in 2021. We also saw a late subscriber intake in the quarter, not least in markets such as in Sweden, where we had longer offers in Q1 than we have had for several years, and this affects revenue short-term. Next slide, please. On page 11, we see gross profit and gross contribution. Gross profit was SEK 33.9 million in the first quarter, an increase by 34.5% compared to last year. Gross margin was 33.2%, which was 0.5 percentage points higher than Q1 last year. The margin was slightly lower in Q1 than in Q4 last year. This is part of normal fluctuations between quarters that we have mentioned before. We remain confident in reaching our financial target of 35% gross margin. On the chart below, we show gross contribution, which then is what remains for Readly after we have paid all the publishers and for all marketing expenses. Gross contribution in Q1 was minus SEK 16 million. This corresponds to a margin of -16.1%. If you look at the size of the marketing spend in the quarter, around SEK 50 million, you see that this was in line with the second quarter of 2020, which then counted for the largest marketing investment to date. The contribution margin, however, has now improved from -28% in Q2 last year to -16%. We will continue to make significant marketing investments throughout the year. Next slide, please. On page 12, we see adjusted EBITDA, which was SEK -54.2 million in Q1, corresponding to a margin of -53.2%. The figure is, of course, heavily affected by the large marketing investments, but also to some extent by higher personnel costs, not least within product, tech, and analytics. From a margin perspective, you can also see that margins is up 11% compared to Q2 last year when we had the same level of marketing spend. We remain confident in reaching profitability around 2025. Over to you, Maria. Thank you, Johan. Now we go into the business. What were we up to? If you look at the slide number 14, talking a little bit about the publishing side of things. We signed 45 new publishers in the quarter and adding 235 new titles, which includes 12 more daily newspapers. For example, Bild from Axel Springer, which we announced earlier this year. One of the highlights were the cover you see here to the right. This is from Australian Vogue. Vogue is the crème de la crème of fashion titles, and so we're very pleased to have that on board in Australia now. We talk about dailies a lot. We've been announcing quite a few dailies over the past 12 or so months. We've been in the U.K. now with dailies for almost a year, and we remain primarily a magazine content product, but daily news do add great value, and it drives increased daily use and reading time. These are two important parameters, not only to support acquisition, but long-term retention. We can see in our data that we've accumulated now that it supports increased trial to paid conversion growth. You may recall that we always start out with the free period where people get to try out our product, and then at the end of the period, hopefully we see conversion to paid subscription. We have great subscription conversion already, but this has actually had a positive impact also on the conversion to paid subscriber. We see that it increases reading time and frequency. I can take an example. In Sweden, we have had dailies for quite a while with, for example, "Expressen," so we do have a very high frequency in Sweden. After adding "Aftonbladet" last year, we now see an increase with more than 15% in daily use in Sweden. Daily use means that the subscribers see great value in the product and they are more likely to stay long-term. That's a little bit of flavor of why we add daily newspapers and also that we're seeing the expected results from that. Finally, Readly Insight, which is the very advanced data analytics tool that we have developed for the publishing industry, is progressing according to plan. It's a gradual rollout. To date, we have signed two contracts so far, commercial contracts. We move to the next slide, please. Partnerships. In the past quarters, if you listened in, you have seen that we give a little bit of deeper flavor of different strategically important areas. This quarter, I've chosen to talk about partnerships. It's an important strategic channel for us to promote growth, big reach, and also strengthen our brand awareness. When we select partners to work with, we look at several parameters. For example, what kind of reach do they have? Here is a great example. When we work with telcos, you see here to the right some logos of some of the telcos we work with. Telcos usually have a very large multi-million consumer base that when they can offer Readly and to stand out, so it both creates great brand awareness to become real household names, but also acquisition of new subscribers in a cost-efficient way. Other things that we look for is partnerships that provide a good context for trying out Readly. Here we see the travel sector to the right where we worked since many years with SAS, for example. We work with TUI, Swedish Railway. When you travel, even if you're on a business trip, you're probably sitting around waiting or you're sitting on a plane, so it gives you dwell time. If you're going on vacation, that's also a situation a lot of people read magazines and have time to read. Working with partners like that provides great context for users to get acquainted with our product. Other things we look for are global brands, which has the potential to scale across several of our markets. An example of that is Lidl, for example, Klarna, Huawei, and many others, H&M, where we can see it works well in one country and then partnerships are often open to moving it into multiple markets, which is great. Also we work with consumer electronics, for example, Samsung. It doesn't say on here, but we recently had a deal with MediaMarkt. That's also great context. Overall, I think we've done a great job so far in executing on partnership strategy. It promotes brand, it has the potential to reduce the average acquisition cost and marketing spend over time, and we signed up 26 partnerships this year already. If you move to the next slide. In 2021, 26 new partnerships with both local and global brands, such as Diet Coke, that you see here to the right. It's very encouraging to see that brands like that think that we are now known enough to collaborate with in this context. We continue this path to continue to add more partners going forward. Next slide, please. Partnerships are part of our growth strategy. Speaking of growth, what is the market opportunity? This is another of my favorite images to look at. The market opportunity is really massive. PwC estimates that even though year-over-year, the total magazine print, for example, print consumption is moving down a little bit every year, it's still going to be worth approximately SEK 60 billion in 2024 in their estimation. Only 29% at that time is estimated to still come from digital sources. This shows that it's still a very under-penetrated market in terms of digital consumption behavior. There is a lot left for us to grab out there. The COVID pandemic is a horrible thing that has taken many lives and influenced all of our lives, and especially the publishing industry, of course. What it has done is that it's accelerated digital consumer behaviors and the digital strategies among the publishers. I think the long tail effect of this pandemic, as horrible as it is, will most likely accelerate the digital behaviors, which is going to be positive for services like Readly, of course, long term. With that, let's move into next slide with a summary of the quarter. Again, it was a strong quarter, a good start of the year with almost 37% year-on-year growth in the full-paying subscriber at the end of the quarter. We continue, Johan showed you, to deliver according to our financial targets with a 32% year-on-year revenue growth. We are continuing to successfully execute on our strategy. For example, the partnership strategy, the marketing strategy overall, and our category excellence strategy with adding more publishers and great content. Overall, I think we continue to be very well-positioned to keep capturing the growth opportunities in this under-penetrated market. With that, I 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 your question, you may do so by pressing zero two to cancel. There will be a brief pause while questions are being registered. Our first question comes from the line of Derek Laliberté from ABG. Please go ahead. Your line is open. Good morning, guys. Congrats on another strong growth quarter, and I really appreciate the color you provided in this call on your activities. Firstly, I was wondering if you could say anything about how Q2 has started there, as we're well into the quarter. You had a very strong quarter last year with a record number of trials. Can you say anything about what to expect on the subscriber side, given this? Derek, hi. We don't really provide any in-quarter information or forward-looking information, as you may recall. We can't really comment on that. What I can remind on this call is that, as you know, there is a lag between acquiring a subscriber and getting the full impact on revenue growth, for example. That's something, I guess, to bear in mind. With regards to subscriber acquisition, I don't really have a comment right now. What I guess I can say is that to remember to look at the activity last year, where we had the big marketing spend also in Q2 last year. On the other hand, VAT impact is going to, year-on-year comparison, is going to reduce the sort of blurring the image on the revenue side, like Johan talked about. That's just a little bit of flavor to that. Got you. I was looking at the regional data there. When it comes to Sweden, it seems like revenues were down slightly sequentially here. How should we view that? Is it that a lot of the marketing activity was taking place at the end of the quarter and we'll see conversions later here, or have you experienced any higher churn or similar? Yeah, as I said, Derek, we had a bit of a special situation in Q2, which was pleasing because for the first time in, I think three years, since 2018, we were able to run longer campaigns. With that, we mean more than one month for free in Sweden, and we have not been able to do that for publisher restriction reasons in the past. We are pleased with that, but it impacts revenue in the quarter. It's nothing to, I think, raise any questions for. It's part of normal business, and I also think we should remind ourselves that we do have many of our conversion channels are being optimized on a global level. It's not that we have a target for a specific country and a specific quarter. We still have one Readly as a group figure, which I think we should keep in mind. Sounds reasonable. On the marketing spend, apologies if you mentioned this, but could you sort of give some flavor of where you mainly allocated this during the quarter? Like the split between the three core markets and other. Thank you. We continue to spend in all core markets. Maria mentioned we still see double-digit growth in all markets, both core markets and secondary markets. Of course, U.K., it's no secret that we have had a good momentum in U.K., and then it's natural for slightly more spend relative to go to the U.K. Great. Final question from my side here. On the content side, clearly you have great momentum here, not least in the quarter with the 45 new publishers, 235 new titles. I was wondering if there are any specific areas of the portfolio where you feel you need to strengthen? I think I might be wrong, but I think you mentioned before that, for instance, like in Germany, you have a really strong portfolio as it's more men compared to women that subscribe to the service, partly due to lacking some women lifestyle content, I believe. Yeah. Any flavor on that would be greatly appreciated. Thanks. Yeah. I'm going to be a bit boring here and confirm what you said, that we've done a great job in acquiring content everywhere, and we do look at. I talk about category excellence, which means that we look at, we have a huge spreadsheet of 37 different categories, and we see which ones are full, where we actually say no to publishers and where we still think we can beef up more. Germany women's interest, it's a bit of a white spot. We really have desire to acquire some larger sort of women-ish, I don't want to be gender generic here, but women passion titles, for example. I don't have a date for when that could happen. I think it's a strategic choice by some of the large German publishers that is in this situation. We continue to talk to them, but I don't have a near-term date to announce on that front. We continue to grow great in Germany regardless, I would say. If we clear out VAT and currency, we grew with more 25% revenue year-on-year in Germany. Even without these amazing women titles, we do a really good job at growing there. Okay. Sounds really good. We'll definitely follow the development from here on. Thank you. That's all from me. Thank you. The next question comes from the line of Kristoffer Carleskär from Handelsbanken. Please go ahead. Your line is open. Good morning, guys, congrats on a fine start to the year. If we start with the subscriber intake, indeed solid, right up 37% year-on-year for the full base. You attribute these to successful partnerships and optimization of marketing channels, which indeed sounds very promising for future growth. I'm just wondering if you could say anything, if you are aiming to expand the base at the same pace that you did last year, if we're looking at the full year or even more than that, maybe we look at something around the 30% mark. Yeah. We don't give precise sort of guidance, but we do remain committed to our financial targets. I guess that is what we can say about that. I think that's encouraging to see that the sort of marketing channels on the digital side have been what we call open. That means that there is an interest for Readly and for services like ours. People click on our ads. It's been a good quarter in that regard, together with the partnerships, of course. Can you mention anything about how much of these 27K intake is stemming from partnerships in the quarter? No, we don't provide a sort of distribution among channels officially. Got you. If we move to, the ARPU was a bit weak in the quarter, especially sequentially, right? You mentioned a couple of pieces, FX and maybe the VAT in Germany. Is there anything more to the story here? Though, of course, if you back it out from the figures, it was actually down from SEK 92 in Q4 to SEK 87 in Q1, right? Could it be that you took in a lot of subscribers towards the end of the quarter? Yeah, exactly. We did that, and it's no big drama from my side. I mentioned Sweden, we were fortunate to run longer campaigns, and this affects that. Our ARPU is counted on the quarter-end number, and we're looking into that. If you look at comps, they have certain different measures. Maybe we should look into that because it makes ARPU can go up and down a bit. I'm not worried. The price point is unchanged. We haven't changed that at all since the start. It's the partnerships that can slightly get the ARPU down, but it's not in those big numbers that it should have a significant impact on ARPU. I wouldn't be too worried about that, to be honest. Great, thanks. Just on your comp calculations, it was SEK 91, the ARPU in the quarter. Yeah, exactly. Maybe you have a sort of different method because we published SEK 91 as ARPU in the quarter. Yeah. Right. Yes. If you back it up. Anyway, yeah, it's a sequential decline. If you look at marketing, that was as you have described in the quarter, and now you have a better contribution margin, so that's very good. Owing to your comments on the previous call, you said that you would spread marketing more evenly throughout 2021. With this SEK 50-ish million spent in Q1, should we see this as a proxy for the remaining quarters of the year? Yeah, we will continue to spend. We are fortunate that we are able to spend. That's not always easy. We keep monitoring the unit economics closely, and we're fortunate that we can spend. It's, of course, going to be interesting to follow what's going to happen with the prices on certain conversion channels. We monitor that closely, of course. It's about getting most bang for the buck. If we can spend, we will spend. I foresee that we continue to spend more than last year, of course. Yes, we will continue to spend quite heavily on marketing throughout the year. Thank you. Just a final one. Could you just elaborate a bit on what you see in terms of competition across your core markets? Yeah. I would say right now there's not much movement. The sort of players in the markets are pretty much the same. It's quite local. We don't really compete with any global brands that we sort of meet everywhere. It's a bit different in different markets, and we haven't really seen any particular pickup or change or increased pressure from competition in the quarter. Great. Thank you very much, guys. Thanks. Thank you. There are no further questions at this point. Please go ahead, speakers. No further questions at this time, speakers, you can go ahead. All right. Thank you a lot for listening in, and have a great day, everybody. Thank you. Bye-bye.