Thank you. Good morning, everybody, and welcome, and thanks for joining our Q1 conference call. The agenda today is I will do a short presentation of Upsales and talk a little bit about our growth strategy and then an update on what's happening with our growth. Then Elin will talk about the financials from our Q1 report. If we go to slide number two, a short introduction to the company that is Upsales. We are a technology company offering a software as a service product for sales and marketing. Our product is used by sales and marketing teams in a total of 10 countries. We have a little bit over 1,200 customers using the product. We have been doing this since 2003, with our head office in Stockholm. We currently have a fast-growing team of almost 70 people. Our value proposition is that we help our clients, we help B2B companies find new opportunities, generate leads, and win more deals. Let's go to slide number three. Looking at the business model for Upsales. We sell our product as a subscription. Our customers, they pay us a per user, per month fee to use the platform. These subscription fees is more than 90% of our total revenue. More than 90% of the Upsales revenue are recurring revenues. The way we continue to grow is to investing in building a scalable organization and a scalable product that will facilitate even faster growth in the coming quarters ahead. We've been doing this, like I said, since 2003. We have always grown organically. We have a long track record of organic and profitable growth. If we look at the three components of our growth strategy, moving to slide number four. The first one is we want to build the world's best B2B sales software. We continue to invest in the product. The second part is scaling our sales organization. We have been doing this now for almost two years in an aggressive pace, and we continue to do so. The third part is to have extremely satisfied customers, in order to keep churn as low as possible and grow from our existing customer base by selling additional services such as add-ons that's available in the product. Just briefly about the platform, moving to slide number five. We call Upsales the intelligent CRM for fast-growing companies. The last six to 12 months, we have been investing heavily into AI and intelligence. What we're doing is we connect our customers' ERP or accounting systems and use the data that our customers already have to help our clients find new business opportunities that are hidden within their own data. Then we mix this data with third-party data. We connect to other data sources, like company databases and other types of data sources to enable all Upsales companies to find new leads and find new opportunities in a data-driven way, which is very appreciated by all our clients. I think prospecting and finding new opportunities is probably the biggest hassle for all sales organizations, regardless of size or industry. The feedback we get from our customers is that it's very appreciated to be able to uncover these leads in a data-driven way. Looking at what we're doing also with the product and our strategy, moving to slide number six. Like I said, we want to build the best sales and marketing platform in the world. We invest heavily in the product. We improve all features to increase user experience. We also invest a lot in building more add-ons, like integration to other systems and the additional features that our customers can buy. This is a very effective way to, over time, increase the average contract value per client by selling add-ons into our existing customer base. The feedback we get from customers, we haven't always had this strategy. Like most software companies, a couple of years ago, Upsales also built. These are customized per customer bespoke solutions. We stopped doing that a couple of years ago because we didn't think it was very effective either for us or for the customer. Instead, we started focusing on creating more scalability and flexibility into the platform. We are able to solve the same problems as most of our competitors do, but we don't need to write any custom code to do it, and the customer doesn't need to buy a complex IT project. That's something that it helps us grow faster and it creates ARR for us, since we sell these add-ons as additional subscriptions. It's a much more effective way of growing the company rather than selling consulting services. Let's talk a little bit about our scale-up of the sales team, moving to slide number seven. This is probably the most important part of any growing technology company. Even if you have the world's best product, you need to have a world-class sales team if you want to grow fast. I'm very proud of the work that the entire team is doing. When we benchmark our sales KPIs, our operational KPIs, we find Upsales in the absolute top. We're planning to more than doubling the size of the sales organization during 2021. The model we use is what we call the land and expand model. We focus on closing as many new customers as possible every month. We don't try to maximize the value of every new client. We want it to be extremely easy to get started, and we usually talk about lowering the threshold to becoming a new customer. We just want to get the customer on board, and then as the customer grows and gets more value out of the platform, they can grow and add more features and add-ons, which also grows our revenue. It's a win-win model for Upsales and for our clients. The third part I mentioned, moving to slide number eight, it's our customer success team. As for probably all SaaS companies, customer success is a key component in continuing to grow. You need to manage churn and you need to have a lower churn. Also you need to utilize the potential that's always in your existing customer base. There are three ways in which we grow existing accounts. We sell more seats as our customers grow and hire more sales reps, and they also buy more add-ons as they grow. We also do a lot of cross-selling. For example, if we close a client that's part of a larger company group, then we can use that client to do more deals within the same group. The third way is, we get a lot of referrals from happy, satisfied, successful customers. Referrals is still one of the most dominant sources for new clients for us. In my opinion, I think that's probably the best feedback you can get is if your clients telling friends and colleagues about your product. We also see that our operational KPIs like Net Promoter Score and customer satisfaction are steadily improving. We have a very positive trend there with churn going down. We have a very high ambition here, so we will continue to focus on this going forward. All right. That was everything I had. I will now hand over to Elin to talk a little bit about the financials. Thank you, Daniel, good morning, everyone. Let's continue to slide number 10. Annual recurring revenue grew by 26.6% compared to the same period last year. ARR as of the end of March 2021 was SEK 92.1 million. Quarter-over-quarter growth in terms of ARR was 6.6%. As Daniel mentioned, as we have communicated previously, our strategy is to grow recurring revenue, and that potential clients should be able to buy Upsales without having to pay for big and expensive onboarding projects. During Q1, net sales increased by 15.2% to SEK 21.8 million, and about 89% of our revenue were recurring revenue. Let's continue to slide number 11. In terms of profitability, EBITDA was SEK 6.5 million compared to SEK 2.8 million in Q1 2020, and EBITDA margin was 29.8% compared to 14.6% in Q1 2020. Net income of the quarter was SEK 3.2 million compared to SEK 0.2 million during the same period in 2020. As we are using the accounting principles K3, we amortize goodwill straight over five years, meaning that we have a goodwill amortization for about SEK 0.7 million per quarter. This will be fully amortized during the next quarter, Q2 2021. After Q2 this year, we will no longer have a goodwill amortization. Continuing to slide 12, looking at cash flow. As I have mentioned before, many of our contracts are renewed at the end of the year, meaning that we usually have a strong cash flow during Q4 and also Q1 the next year. We reported a strong cash flow in Q4, and we continue to have a strong cash flow, where operating cash flow in Q1 was SEK 16.4 million compared to SEK 11.9 million during the same period in 2020. Cash flow as of Q1 was SEK 14.1 million, and net cash at the end of this quarter was SEK 49.5 million. Yeah, that was all of the financial highlights. Let's continue to slide number 13 and the Q&A section. If you would like 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. There will now be a brief pause while questions are being registered. There are currently no questions, so I will pass back for any closing comments. All right. Thank you, everybody, for joining. We are very happy with the results in the first quarter and looking forward to continuing the work of growing Upsales. Thank you very much.
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