Good morning, everyone, and thanks for joining our conference call today. Our agenda today, I'm here with Elin Lundström, our CFO, and I will start by doing a short presentation covering our growth strategy and a short company introduction. After that, Elin will talk about the financial highlights from our Q4 report. Let's go ahead to slide number two. Upsales, what we do is we help our customers, who are mainly B2B companies, find new sales opportunities and win more deals. The way we do this is that we provide a software as a service, CRM, and marketing platform. Our main focus is fast-growing SMB companies. The company has been around since 2003. Our head office is in Stockholm, Sweden, and we currently work with around 1,200 customers in a total of 10 countries. Next slide, please. Our business model, it's a very scalable model. We sell our services as a subscription. Our clients pay us an annual fee, and these subscription fees make up over 90% of our total revenue. The model is that our clients pay a per user per month fee for the basic features. We sell additional add-ons. We have over 20 add-ons that our customers can buy in addition to the user license. We invest heavily in improving the scalability to be a streamlined organization to facilitate further growth and accelerated growth in the future. Next slide, please. Slide number four. Looking at our strategy, there are three components to what we do to accelerate our growth. The first one, probably the most important one, is to build the world's best B2B sales software. The second one is scaling our sales team and hiring more people, hiring more sales reps to win more contracts, and then also upsell existing clients. The third one is investing in our customer success team and our customer success strategies to keep our churn low and continue to grow existing contracts. If we move to slide five, just a brief overview of the Upsales platform. The core functionality is made up of a set of CRM features and marketing features, which our clients use to keep track of everything they do with their customers and their potential customers. It's also used by sales managers to get an overview of everything that's going on in the sales team. Our customers also use our marketing features to create digital campaigns, to generate new leads, and to find new opportunities for the sales team, basically. Probably the most appreciated part of Upsales is our rich data integrations. What we mean by that is we create off-the-shelf, ready-made integrations to the most common financial and ERP systems that our customers are using. This enables our customers to get up and running really fast. Without the need for long configuration projects and costly consulting projects, our customers can get up and running in a matter of minutes instead of weeks or months or even years in some cases. We also connect Upsales to different kind of data sources to help our customers get kind of market intelligence about their existing and their potential customers. We have several partnerships with data providers, where the goal is to eliminate the need for manual data input into Upsales. Let's go to slide number six. The rationale behind investing more into the product is that by creating even more add-ons, we are able to continue to raise our average contract value. The typical customer journey for an Upsales client is that you usually start small. You start with a few licenses. Maybe you are 10 or 15 or 20 sales reps. Then as you grow and as you start using more parts of the software, you add more features and start buying more add-ons. It's a really effective way to grow the existing customer base, and it's also very appreciated by all of our clients. As I mentioned, I think that most customers don't really want these complex, long implementation projects, which is the case with many of our competitors. They just want a fast solution to their problems. That's kind of our reasoning behind all these off-the-shelf add-ons. Enabling the customer to get up and running quickly and creating value quickly. Moving to slide number seven. We continue to invest in growing the sales team. We do some benchmarking from time to time with other SaaS companies and with the data that's available out there. We're very proud to say that we have best-in-class sales efficiency KPIs. This is the most important explanation to why we are able to continue to grow, to grow faster, and still be profitable and have positive cash flow. We will continue to double the size of the sales organization during 2021. Our sales team is divided into, we have one team who are only focusing on new clients, and then we have a separate team that is working with account expansions, so selling these add-ons and increasing the contract value to existing customers. Next slide, please. Customer success is the third component in our growth strategy. By investing in customer success, we create growth in three ways. As I mentioned, we sell more add-ons and more seats to existing contracts. We are also able to do new deals within our existing clients that are parts of larger corporations or larger company groups. The third one is that probably the most common lead source we get where we get new clients are referrals. Happy customers talking about Upsales, saying positive things to other companies, who then contact us and become clients as well. Like growing the sales team, we will continue to grow the customer success team during the year as well. Next slide, please. We have seen now in the third quarter and also the fourth quarter that we continue to accelerate our growth. We had an all-time high quarter-over-quarter ARR growth with 9.6%, which applies an annualized growth rate of 44%. My comment on this is that we have been working during two, almost three years now with our long-term strategic plan as to how we want to grow Upsales and grow faster. We continue to see increased traction from this execution. It's very satisfying to see that it's starting to make an impact in, not just the KPIs, but in the actual financials as well. That was everything from me. I will now hand over to Elin for the financials. Thank you, Daniel. Good morning, everyone. Let's continue to slide 11. Looking at the figures for Q4, our annual recurring revenue grew by 23.8% compared to the end of 2019. ARR as of the end of 2020 was SEK 86.4 million. As Daniel mentioned, quarter-over-quarter growth was 9.6%. Net sales increased by 15% to SEK 20.1 million. As Daniel also mentioned, and as we have communicated previously, our strategy and focus is to grow recurring revenue. We also want potential clients to be able to buy Upsales without having to pay for big and time-consuming and expensive implementation projects. For the financials, this means that we will continue to sell less one-offs, and this has an effect on revenue growth year-over-year. Let's continue to slide 12. In terms of profitability, EBITDA was SEK 4.5 million, compared to SEK 2.5 million in Q4 2019. EBITDA margin grew to 22.2% compared to 14.2% during the same period in 2019. Net income of the quarter was SEK 1.6 million. As we're using the accounting principles K3, we amortize goodwill straight over five years, which is about SEK 0.7 million each quarter. This goodwill will be fully amortized in Q2 2021. We just have a bit more left on that. Continue to slide 13. We have a lot of contracts that are renewed in Q4, so we usually have a strong cash flow during that period. We're happy to be able to report a significant increase in operating cash flow, which was SEK 10 million in Q4 compared to SEK 5.5 million during the same period in 2019. The overall cash flow for Q4 was SEK 8.4 million, and net cash at the end of 2020 was SEK 35.4 million. That was everything from me. Let's continue to slide 14 and the Q&A section. Thank you. If you wish to ask an audio question, please press zero one on your telephone keypad. If you wish to withdraw your question, please press zero two to do so. Once again, please press zero one on your telephone keypad if you wish to ask an audio question. There'll be a brief pause whilst we wait for any questions to be registered. Okay. There appears to be no registered questions, so I'll hand back to the speakers for any other remarks. All right. Thank you, everybody, for joining. To summarize, I'm very happy with the last quarter, especially to see that the growth continues to increase and looking forward to continue to execute on our strategic plan. Thank you, everybody.
Loading workspace