Good day, and thank you for standing by. Welcome to the Einride first half 2026 earnings conference call and webcast. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, please press star one one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star one one again. Please note that today's conference is being recorded. I would now like to hand the conference over to your first speaker, Alexi Maltas, Head of Legal, U.S. Please go ahead. I am pleased to be joined today by our CEO, Roozbeh Charli, and our CFO, Anubhav Verma. Following their prepared remarks, we will open the call to questions. Please note that some of the information you will hear today will include forward-looking statements such as, but not limited to, statements regarding our product development, business model, performance, comparisons to our competitors, market opportunity, potential product sales and future demand, business and strategic opportunities, customer and partner engagement, projections of future operations and financial results, availability of funds, as well as statements containing words like potential, believe, expects, plans, or other similar expressions. These statements are not guarantees of future performance. Actual results could differ materially from the future results implied or expressed in the forward-looking statements. We encourage you to review our SEC filings. These filings describe risk factors that could cause our actual results to differ materially from those implied or expressed in our forward-looking statements. All forward-looking statements are made as of the date of this call, and except as required by law, we undertake no obligation to update this information. In addition, we will present certain financial measures on this call that will be considered non-IFRS measures. For reconciliations of each non-IFRS financial measure to the most directly comparable IFRS financial measure, as well as for all the financial data presented on this call, please refer to the information included in our press release and in our Form 6-K dated and submitted to the SEC today, both of which can be found on our corporate website at einride.tech/investors. This conference call also will be available for audio replay at einride.tech/investors. Now I would like to turn the call over to Roozbeh Charli. Roozbeh? Thank you very much, Alexi. Good morning, everyone, and thank you for joining Einride's first earnings call as a public company. We have entered the public markets with strong momentum. Today, Einride is live with more than 30 customers across seven countries. We have executed close to 600,000 shipments and built more than $800 million of potential ARR through our joint business plans. So far this year, we have added Amazon as a customer. We announced a partnership with Tesla to deploy 500 Tesla Semis. We have advanced our autonomous commercialization through our partnership with DAF and completed our first acquisition. Financially, revenue grew 26% in H1, and we expect that growth rate to more than double in the second half. Today, we will walk you through how our signed contracts are converting into deployed vehicles and revenue, how we are expanding with some of the world's largest shippers, and how we are advancing Saga AI and our autonomous technology. That progress reflects the strategy we have been building. Scale our business today, use that scale to accelerate our technology, and progressively introduce autonomy to fundamentally shift the economics of freight. As a short overview of Einride is built to be the platform that delivers what the world's largest transport buyers actually care about, cost efficiency, reliability, and safety. We develop and bring together the technologies required to create the most efficient, autonomous, and electric freight networks. Our Saga AI platform enables efficient deployment of one of the world's largest fleets of electric trucks. Our autonomous technology allows us to gradually automate a larger and larger proportion of our customers' freight needs that we accumulate on our platform. This is not a single technology story. It is a platform that keeps compounding as it scales. The freight capacity as a service offering, powered by the Saga AI platform and electrification, starts the journey with our customers. It allows us to start attacking the cost base. It creates the relationship with the customers. It sets into motion the flywheel that leads to our customers continuing to scale with us. It improves and creates denser and denser networks, lower and lower cost bases, and better margins. It does all this while gathering and accumulating data that accelerates our development. It accumulates vast amounts of transport demand on a single platform globally. Autonomous freight adoption starts gradually and increases exponentially. The complexity of deploying driverless capacity in a safe and reliable way into real-world applications should not be underestimated. Neither should its ability to fundamentally change the cost structure and operational logic of a freight network. That is why we expect the adoption of our autonomous technology into the networks of our customers to happen gradually in the initial phases and then increase rapidly. With our approach, data position, and operational understanding of our customers' networks, we are strongly positioned to lead that transition for them. For every new operating domain and set of conditions we unlock with our technology, we know exactly how many thousands and millions of additional lanes we can operate for our customer base and can deploy into those swiftly and efficiently. So where are we on each of these assets? We have generated over $50 million of revenue for the past 12 months. Furthermore, we have accumulated more than $800 million of potential ARR in our joint business plan, which are scaling plans where we sit with our customers. We have started the journey towards increasing the level of automation in our customers' networks. We have operated more than 5,400 driverless hours in contracted customer operations, a figure that has grown by about 60% just over the past six months. We see that based on the customer demand we capture on our platform so far, about 80% of that is suitable for automation in the medium term as we continue to advance our autonomous technology. Our platform is scaling fast. We are now live with 30+ global customers across seven countries, spanning the U.S., Europe, and the UAE, with new lanes and geographies coming online continuously. Our ability to operate on a global scale is one of the key elements that makes us a relevant partner for the world's largest transport buyers. They want a partner that can help them across their operations, not just in single isolated geographies. As we continue to scale our operations, we're adding more and more lanes in the countries where we operate. We're expanding our U.S. footprint across 15 states while significantly growing operations in the states we're already active in. We're doing all of this to support the growing demand from our customers, including Amazon, GE Appliances, and PepsiCo. With that, let's take a closer look at our execution so far this year. 2026 has been about executing what we said we were going to do, scale with customers, develop our key technologies, and forge partnerships. We've added new customers, including Amazon, to our growing base of global transport buyers. Our revenue grew by 26% versus H1 of last year on a constant currency basis, and we're expecting that growth rate to more than double for H2 of this year. We continue to lay the foundation for further growth and scale by securing a partnership with Tesla to deploy 500 Tesla Semis on our platform. This deployment alone will triple our deployed fleet. In parallel, we continued our autonomous deployments, increasing driverless hours in customer operations by 64% year over year. We're also excited about our first acquisition. In July of this year, we acquired Flipturn, expanding our charging network and capabilities overnight. We set the stage for scale deployments of autonomous freight with our customers through the partnership with DAF, one of the leading truck manufacturers and part of the PACCAR group. Together, these milestones are a few examples of the progress we made so far in 2026. Now let's have a closer look at some of them. Earlier this year, we took an important next step in our relationship with Amazon. Following a successful pilot phase, we signed an agreement to scale electric freight on our platform for their middle mile network. Working with Amazon, which is arguably one of the most complex logistic networks in the world, is a true testament to our platform's abilities. The initial deployment is 75 electric trucks across five U.S. locations. Our platform integrates into the Amazon Relay network, with Einride operating the fleet on Saga AI. We're live with the first deployments already and expect to have the majority of this first wave done before year-end. Earlier this morning, we also announced a big win towards our scaling ambitions with our customers. We announced a partnership with Tesla that includes deploying 500 Tesla Semi trucks on the Einride Saga AI platform, targeting to be operational with the majority of these before the end of 2027. As mentioned, this deployment alone means that we'll triple our fleet size, driving higher utilization and reinforcing strong unit economics. This partnership is also an important step in accelerating our deployment with customers, including converting additional demand within our more than $800 million of potential ARR in joint business plan opportunities into revenue. We also completed our first acquisition a few weeks ago, of Flipturn. Flipturn is a leading developer of charging and energy management software for electric fleets. This acquisition consolidates our offering and creates the first fully integrated electric freight technology stack, including charge port management and energy systems, and a brokerage layer that connects fleets to third-party charging networks. By aggregating charging demand at scale, Einride also gains more competitive access to third-party charging networks, which in turn means we can provide cost-efficient solutions to our customers. Flipturn has a truly top-tier founding team and an incredibly strong team. I am very excited about what we can achieve together with them. We recently announced a partnership with DAF, a leading truck manufacturer and part of the PACCAR group. This partnership will allow us to accelerate large-scale commercialization of SAE Level four autonomous electric freight through the integration of the Einride Driver with their award-winning premium vehicle platform. It is a validation of our vehicle-agnostic approach and will allow us to scale autonomous deployments with our customers. We are working with DAF and authorities to enable public road operations, with interface testing in 2026 and integration and commissioning on DAF Trucks in 2027. An important aspect of achieving scale deployments of our autonomous drive stack, the Einride Driver, is to secure partners for vehicle platforms on which we can integrate our autonomous drive stack outside of our cabless autonomous vehicles. DAF is a perfect example of that, and we are very excited to continue working with them. Another great example of expanding the use case of the Einride Driver across other hardware platforms is the progress we have made within the defense space. We established a defense business unit earlier this year following pilot contracts with the European NATO Allied Defense Organization. By advancing autonomous logistics for dual use operations, we are extending commercially validated autonomy into defense applications. We are part of Sweden's national resilience efforts, positioning autonomous freight as critical infrastructure for total defense and supply security. We also recently signed a strategic partnership with Centinus to extend our autonomous technology platform for real-time threat detection and counter-UAS monitoring. With the guidance of General Keith Alexander, who joined our board earlier this year, we will continue expanding our efforts within the defense area, both in Europe and the U.S., and through our core technology and strategic partnerships, provide autonomous logistics for defense operations. What is next for us now? It is continued disciplined execution on our plan. We are executing towards reaching cash flow breakeven point in 2028. We estimate that we need a deployed fleet on the platform of about 1,500 to 2,000 vehicles to reach that point. Through our EUR 800 million of potential ARR in joint business plans, we have set the basis for that growth. We will continue to acquire new customers, and with a 3x increase in our sales pipeline, it has never been stronger. This takes us to cash flow neutral, it sets the basis for our autonomous deployments. We will continue to develop and deploy our autonomous technology, gradually expanding the environments in which it is deployed and reach the inflection point for the exponential scaling of autonomous on our platform. With that, I will now hand it over to Anubhav to walk through the financials in more detail. Thanks, Roozbeh. I'm excited to share with you our H1 2026 results. As a foreign private issuer, our standard reporting cadence would be a half a year reporting cycle. However, beginning in 2027, we intend to move to a regular cadence of reporting our results on a quarterly basis. For Q3 of this year, we intend to provide a business update and select key figures in the fall. The central theme of our strong H1 results is growth. With our strong momentum, we're now well-positioned to continue sustainable long-term growth with our customers through the following drivers. Number one, we're scaling the business with capital efficient fleet expansion. We're well on track to triple our fleet size in the near term. This rapid growth is a direct response to customer demand and underpins the revenue acceleration we discussed earlier. This fleet expansion will be funded through asset-backed debt facilities provided by third parties, resulting in zero equity dilution for our shareholders. We can continue to match asset-backed leverage directly with revenue generating assets. In doing so, we preserve our capital and position the company for profitable, sustainable growth. Second, the top-line revenue conversion is expansion fueled by the customer demand. We're seeing strong repeatable conversion across our sales funnel, moving efficiently from JBPs into revenue. This conversion gives us revenue visibility and validates the underlying unit economics of our freight capacity as a service model. Third, over the past year, we deepened our R&D investments to accelerate our R&D efforts towards the further expansion of our autonomous vehicle capabilities. With these drivers, we are targeting a cash flow breakeven point in 2028. While our FCAS model will be the primary growth driver in the near term, we are simultaneously expanding our technology licensing model for the Einride Driver and Einride Saga AI. We expect these revenue streams to scale up progressively, and the recent work within defense and our partnership with DAF are examples of the strides we have made so far. In short, we're managing our balance sheet with discipline today, funding our growth efficiently, and investing in the scaling of a high margin technology platform. Revenue on a constant currency basis grew from EUR 21 million in H1 of 2025 to EUR 27 million in H1 2026, up 26%. This top-line performance was driven by expansion within our existing customer portfolio as clients expanded capacity alongside new customer deployments across our networks. Looking ahead to the second half, we expect our constant currency revenue growth rate to roughly double, taking H2 revenue in the EUR 39 million-EUR 42 million range. This acceleration will be fueled primarily by two catalysts. Number one, the continued ramp-up of our Amazon deployment. Second, the initial deployment phase of our Tesla Semi fleet. Consequently, we are on track to exit December this year with an annualized revenue run rate of EUR 85 million-EUR 95 million on a constant currency basis. This would result in over 80% increase year-over-year as compared to December last year, and this trajectory represents the systematic conversion of signed revenue contracts disclosed previously in the year. Let's talk about our cost structure. Contribution margin is a measure we track closely. It provides a good view on the contracting model and operational development in the deployment portfolio. It reflects how we are able to drive operational productivity and optimization on our platform. We define contribution margin as our revenue less direct cost of transportation, which primarily includes all variable costs such as driver costs, electricity, maintenance, and insurance, and excludes all vehicle capital costs and certain direct FTE expenses. For H1, our contribution margin stood at 21%. As our revenue expands and fleet utilization climbs in the second half of this year, we expect contribution margin to land between 21%-23% for the second half of this year. As we look forward, the combination of higher utilization and progressively lower vehicle acquisition costs will strengthen our operating leverage, ensuring that as revenues scale, they scale even more profitably. Turning to adjusted EBITDA, which has been normalized for one-time transaction expenses related to the business combination. During the past year, we have increased investments in tech and R&D to accelerate autonomous development. Furthermore, we have invested in IPO preparedness and central corporate infrastructure and compliance on our path to public markets. We also made investments in our commercial teams to further drive the growth that has translated into tripling of our pipeline as of June 30, 2026. Adjusted EBITDA was a negative $34.6 million for H1 2026 on a constant currency basis, compared to a negative $21 million last year. Looking ahead to the second half of the year, as we continue to invest in our commercial customer ramp, we expect H2 2026 adjusted EBITDA to be between negative $35 million and $37 million on a constant currency basis. As mentioned previously, we are executing on our plan to reach cash flow breakeven point in the second half of 2028 with a deployed fleet of 1,500 to 2,000 vehicles. The total R&D expenditure on a constant currency basis stood at $20.4 million in H1 2026 compared to $13 million in H1 2025. Following last year's ramp up, we made foundational investments in R&D to accelerate autonomous vehicles and platform development. These investments directly accelerate two major strategic initiatives. Number one, accelerating our autonomous development, and number two, advancing the implementation of quantum computing technology into our platform, which will optimize network efficiency and unlock operational leverage across our customer footprint. To close out, three things I'd like you to take away from today. We had a robust H1 performance, setting the stage for the company to double the growth rate in H2 this year, driven primarily by existing signed contracts, including Amazon and other customers. JBPs and new customers will drive the growth in 2027 and beyond. Number two, with our strategic partnership with Tesla for 500 Semis, we will be tripling our fleet through third party financing with zero dilution to shareholders. With their improved hardware and mileage, it will unlock new routes and higher utilization to accelerate conversion of JBPs into revenue. Lastly, our capital efficient model for growth enables us to scale faster and paves the path for a cash flow breakeven point in 2028. With strong and improving unit cost economics, we're positioned to drive profitability at scale. With that, we'll open the line up for analyst questions. Operator? Thank you, Anubhav. As a reminder to ask a question, please press star one one on your telephone and wait for your name to be announced. To withdraw your question, please press star one one again. Once again, it is star one one to ask a question. We are now going to proceed with our first question. Our first question comes from the line of Itay Michaeli from TD Cowen. Please ask your question. Great, thanks. Hi, everyone, and congrats on your first earnings call. Maybe just as a first question, just hoping you could talk a bit more about the Tesla Semi economics and how you think how that compares with the other trucks in the fleet, and how we should think about the impact going forward to contribution margins and maybe even unlocking part of the $800 million ARR that you have through the deployment of that incremental fleet. Absolutely. Thanks so much for that question. I would say when we look at a cost of fleet in terms of determining the hardware platforms to utilize, we base it off the customer data that we have and the operational sort of environment in which they are going to be operated and try to choose a combination of truck specifications, cost, quality, et cetera. I think what we are seeing with the Teslas is that they are matching up pretty well on those metrics. I think what the 500 truck order will help us do is really scale into, as you mentioned, scale into more and more of that $800 million of JBPs. The capacity of the vehicles and the specification of the vehicles also unlocks another realm of use cases for customers in terms of lanes and distances. I think overall, we are going to see a positive effect both on the revenue side in terms of deploying more and more of the joint business plans, but also on the contribution margin side. Terrific. Thank you. As a follow-up, thank you for the color on 2028, the cash flow breakeven. Hoping you could maybe have a few more details in terms of thinking about maybe revenue per truck, how you're thinking about utilization and contribution margin in 2028, as well as maybe a little bit on OpEx growth. It looks like there's a little bit of licensing revenue you expect by then as well. Any of those details would be super helpful. Thank you. Yep, of course. Thanks, Itay. The way we think about the utilization, today, roughly our trucks operate at $300,000 per year. We expect that with the inclusion of Teslas in our fleet, this number will climb up. Obviously driven by more customers on our Saga AI platform, we will be able to drive this number up. Obviously, the incremental growth in the revenue per truck will be dropping down to the contribution margin, because we have fixed costs, so that will drop down to the bottom line. What is very helpful here, as the cost of electric vehicles improve, the net profit, including the hardware cost, will also work in our favor for the net cash profit to further ramp up in 2028. So those are the two drivers for cash flow breakeven from the operating side, because the electric vehicle platform has gotten better. Lastly, I would say, in terms of increasing our investments, look, our R&D cost structure is pretty competitive, and we might need to ramp up some R&D investments in the coming years. But we expect that with the increasing utilization and the number of trucks in our fleet, we expect to hit cash flow breakeven driven by these factors. That's why we have a path to breakeven in 2028. Terrific. That's all very helpful. Thank you. Thanks, Itay. We are now going to proceed with our next question. The question has come from the line of Chris McNally from Evercore. Please ask your question. Congrats, team, particularly on the Tesla announcement, which I know will probably be covered well over the course of the call. Maybe we could focus on the AV side, where somewhat ironically, it has been the legacy Class 8 OEMs which have been one of the industry bottlenecks. The traditional- Sorry, Chris. We cannot really hear. Could you speak up a bit? Sorry about that. Sorry about that. My question's on the AV side. Yep. Where somewhat ironically, it's been the legacy Class 8 OEMs as one of the industry bottlenecks. I think the traditional OEMs have been rather slow for production-ready, redundant chassis thus far. It's a bigger issue with trucking than AV rideshare, because of the cost of the validation is going to sit on you and upfitters for the time being. My question, Roozbeh, could you talk a little bit about how you're thinking about that bottleneck, with your cabless AV pod as a separate issue? Then really relate that to the DAF partnership, which sounds like it's a step in the right direction for highway Class 8. Thanks so much. Thank you. Thanks for that question. One of the key points of achieving the scale deployment of autonomous is, as you said, the hardware platforms. We early took an approach of the self-developed cabless autonomous trucks, which we built together with our contracting manufacturing partners. It is, as you said, the scaling of that comes with its challenges in terms of how that's going to look, and also in terms of the use cases in which you deploy the capacity. So we've taken an approach early on to, as similar as we do on the electric truck side, to have a sort of multi-OEM type of thinking, or multi hardware platform thinking, depending on what the customer use case that we're addressing is in this case. I think the DAF partnership is a perfect example of that, where it will both sort of show our ability to implement the Einride Driver onto different types of hardware platforms, like we've done in the defense space, for example, and now in our own developed vehicles. But now also doing it on an OEM truck platform. It's also a clear path to that scale deployment of access to hardware for scale deployments of autonomous. So I think generally, I would say we're seeing more and more of that direction in the market in general as well. Of course, there is testing and validation, et cetera, to be done. But I think we're on a good path together with DAF. Roozbeh, just the follow-up, to paraphrase. The upfit will be sort of stage one. You will determine who the upfitter is for someone like DAF probably going forward soon, but then that will theoretically develop the relationship when an OEM is ready for their production assembled, validated AV vehicles. Is that a fair way of discussing it? You broke up the last part. I heard the first part, you broke up on the last part. Yeah, the second part is that that would be an evolution into when an OEM is ready for a production-ready vehicle. Yeah, that is the path that we are working on together with DAF in this instance. Starting with the interfacing between the Einride Driver and the vehicle platform. That is what we are going to do during the better part of this year and coming into 2027, and then commissioning for next stage, and then from that, sort of moving into more scaled deployments. Thank you, team. Sorry about that. Thanks, Chris. We are now going to proceed with our next question. Our next question comes from the line of Jesse Sobelson from BTIG. Please ask your question. Hey, everyone. Congrats on your closing the transaction and moving forward here with your first earnings call. I am curious on just the scaling of the fleet. You mentioned the Tesla deliveries, there are 500 to triple. It sounds like roughly the fleet might be around 250. Then, you mentioned, I think, the first wave of a contract with Amazon. I am not sure if that is 75 or just a portion of it. Can you tell us where the fleet is today and where we expect the fleet to be by the end of this fiscal year? Yeah. The fleet is, as you said, it is about 250 Einride Driver trucks, split between Europe and the U.S. As we mentioned in the Amazon, we are expecting that those initial deployments of 75 trucks, the majority of that to be deployed on this side of the year. Then also the initial parts of the Tesla Semi deployment. The way I would think about it is, a fleet size towards the end of the year, just shy of 400 trucks. Okay, great. Then in terms of just thinking about the contribution margin versus the gross margin here, 21% contribution margin minus 50% gross margin must imply there is a lot of fixed costs in this gross line that, maybe they need to be covered through scaling. Can you just elaborate on the difference there and what needs to happen to improve gross margin to get to a level where we will be at a cash flow breakeven rate in 2028? Thank you. Yes, Jesse. In the gross margin line, there is depreciation and amortization of roughly about SEK 95 million, or thereabout. The way I think I want you to think about this is obviously as we ramp up customers, there are fixed costs that are in the system. As we ramp up, the revenue scale much faster than the cost. So what we expect in the future is this contribution margin of 20% where we are today to trend towards the 35% number, which we have also guided the markets in the long term, what we believe the business can perform. So we expect we will have a trajectory going from 20% to 35%. In my prior comment, I also mentioned about as the vehicle costs or the vehicle acquisition costs come down, the net cost will also come down after the contribution margin. Essentially, the gross margin will start trending towards 20% going forward, and that is what we estimate to happen in the next short to medium term as we improve utilization. Because remember, every extra SEK of revenue comes down to the bottom line. Thank you. We are now going to proceed with our next question. The question's come from the line of Matt Lee from Canaccord Genuity. Please ask your question. Hi, everyone. Thank you for taking my questions, and congrats on all the success this quarter. Maybe just on the Joint Business Plans you have. You're kind of targeting this $85 million-$95 million of ARR by December of the year. What are the kind of key bottlenecks to accelerating that, and how should we think about those conversions falling over the kind of coming months and as we move into early 2027? Yeah. Thanks for that. I would say the deployments that are leading up to that 85-95, have sort of moved from the Joint Business Plan phase into the contracted phase. It's more a deployment of deploying the capacity and getting the capacity online that will drive the growth towards that. The absolute majority of that growth is through sort of existing or assigned contracts, which have been part of the JBPs converted into contracts and now converting into deployments. Great. And maybe just on kind of the path to 1,500-2,000 trucks that you have outlined for your cash flow breakeven. You will be at kind of 750 is the number I believe you have mentioned by the end of 2027. I guess where do those incremental 1,000-ish trucks come from? And then maybe just to double up on the cash flow breakeven, is that exclusively through just having trucks on your platform or, do kind of autonomy and your other revenue streams really help to drive that further, and is it a factor of that? Yeah. So, I mean, to answer your first question there in relation to the scaling towards the 1,500 to 2,000 trucks. The tripling of the fleet is looking only at the Tesla Semi deployment. So they stand alone will sort of triple our fleet. And we are expecting to deploy those trucks up between now and the end of 2027. Alongside that, of course, we will continue growing the other parts of the business with other OEM and other deployments as well. And the way to think about it a bit is, that in the joint business plan, if I look at the data that we have in the joint business and the scaling plans that we set in those joint business plan, the volume catch in that is about 1.4 to 1.8x the volume required for those 1,500 to 2,000 trucks. So what you will see is, you will see the Tesla deployments going into those contracts. You will see conversion of the joint business plans into deployments outside of the Tesla deployments as well. But also, of course, continued growth of the joint business plan portfolio and the contract with new customers. And I think as Anubhav mentioned earlier, the investments we have made into our sales efforts over the past, I would say six to eight months, have resulted in a 3x or so growth in our sales pipeline. So it is going to be a combination of existing and new customers. The majority are going to be based off our existing customer base and existing joint business plan portfolio. Great. Thank you. Welcome. We are now going to proceed with our next question, and the question comes from the line of Ryan Sigdahl from Craig-Hallum Capital Group. Please ask your question. Hey, good day, guys. Hey. On the Tesla, just a few follow-ups. Maybe talk through first phase implies something 150 by year-end. What are the next phases, as we think about getting all of those deployed next year? Then terms on the third-party financing, if you can share them. Then lastly, do you have any customers that are specifically requesting the Tesla Semis, or do you plan to just opportunistically, based on Saga AI, deploy these across all of your various routes? Yeah. I will take the first two and then I will hand over to Anu to talk more about the financing. I think in terms of the Tesla, we are doing the first wave of deployments. Some of that, as I mentioned, with Amazon, some with other customers between now and year-end. We are doing other deployments between now and year-end. So all of the growth between now and year-end is not exclusively from the Tesla trucks. Then we are looking to deploy the rest of those during 2027. When it comes to if there is customer specifically requested, I would say generally speaking, there is no sort of specifics around the hardware platforms. We choose the hardware platforms based on the capabilities of the vehicles, the use case, our understanding of the data, and sort of how we plan to operate that. Generally speaking, it's very seldom that we get specific hardware requests from specific customers. Regarding the terms of the financing, we'll be posting some more information in our 6-K. That will be published shortly. I'm excited about this financing, Ryan, because this is a 100% asset-backed equipment loan, with no equity down for the truck. It's a facility that we can draw down with the delivery of the trucks as the delivery rolls around in our schedule. The effective interest rate is roughly around 14%, which again signals the evolution of the financing markets in this particular asset class as well. As the technology improves, as the hardware improves, the financeability of these assets also improves, as the range and the hardware becomes better. This would be a four-year facility with each draw. Like I said, there'll be more information, but I'm excited about the terms, and the fact that the fleet can be funded with zero dilution. Helpful. Then just on the DAF announcement partnership, can you explain what each side is doing here? Because I guess it sounds like an upfit agreement first, maybe that eventually moves to a factory line side integration in the future. But with the upfit, are you guys effectively buying trucks, upfitting them, deploying them, and handling the costs, or what is each side doing here, and then what are the key milestones we should be watching for over the coming quarters? Yeah. To start with, I think the first phase that we're in right now is the sort of initial testing and initial interfacing between the two platforms, being also verified by TNO in terms of the safety case and the integration of the language in which the platforms speak to each other, basically. Then for next year, there will be the commissioning of the trucks. Following that, we'll go into the sort of scale deployment. We're working through together with DAF in terms of the exact timing and exact details of how that scaling is going to look and the economic models around it. But right now we're very focused on doing the commissioning, doing the testing, doing the commissioning, getting the first set of vehicles out on the road, and then in parallel, also working on the public road verification for the platform as well. If I may ask one follow-up on that, are you aware of any other AV technology partners working with them? PACCAR has historically been reluctant to go driverless in the U.S. or taking their time anyways. Curious kind of how they view the European segment they have. Yeah. I'm not aware of that together with DAF, no. We are the first partner, as far as I'm aware, that they're working on with this, on the electric side. You said electric. Autonomous or electric? No, autonomous. Sorry, but this is their electric platform as well. Got you. Helpful. Thanks, guys. Good luck. Thank you. As a reminder, to ask a question, please press star one one on your telephone and wait for your name to be announced. To withdraw your question, please press star one one again. We are now going to proceed with our next question. The question's come from the line of Michael Latimore from Northland Capital Markets. Please ask your question. Yeah. Great. Good morning. Congrats on the first earnings call here. Thank you. You mentioned the pipeline tripled. Can you just give a little bit more detail on what you're seeing there? How diverse is it? What regions it's coming from? What use cases are there? Is it tied to more marketing? Or just a little more detail on why the pipeline's growing so quickly. Absolutely. I would say it's a combination of a few things. I would say that it is quite concerted efforts in terms of investments into our sales team and marketing, et cetera, related to that. I would say that we see a stronger development on the U.S. side also following the Amazon announcement. I think the sort of conclusion a lot of the market drew from that is if these guys can handle the complexity of Amazon's network, they can handle ours. So we had quite a lot of inbound and increase in that following the Amazon announcement as well. But also I would say growing across our verticals and it's also as we go live with more and more customers and continue scaling with more customers both in Europe and the U.S., that also has an effect especially within the verticals that we're focusing on. I would say it's a combination of good continued momentum with existing customers, and also concerted efforts on our side. Great. Great. Then maybe just in terms of the time to convert customers from pilots to deployment, and also just the deployment time frames, how do you see those trending over the next year or so? Yeah, so generally speaking, I can comment a bit more specifically on what we're seeing right now. Generally speaking, the land and expand sales strategy that we sort of had, get in with the large transport buyers, analyze their data, set that plan, and then gradually scale together with them. It's also partly because the initial sales cycle is long. If you're selling to a PepsiCo or an Amazon or others, you're going to have a long initial sales cycle. But what we see across the customer base is that the customers continue to scale with us, so it's worth investing that time. To comment mostly on the trends, sort of more near term, I would say we've definitely seen deployment cycles and deployment times come down quite significantly over the past 12, 18 months. As driven by both sort of the availability of hardware as we build out our charging infrastructure. You're deploying into a network where you already have infrastructure set up. You're deploying into regions where you have a context already. So we're sort of shortening lead times there. I would say generally trending in a good way when it comes to the time between sale and deployment. Okay, great. Thanks a lot. Best of luck this year. Thank you so much. We are now going to proceed with our next question. The question has come from the line of Colin Rusch from Oppenheimer and Company. Please ask your question. Thanks so much, guys. With the Tesla agreement, can you talk about any sort of performance guarantees that you are getting from them in terms of uptime, as well as any contributions around maintenance and charging, and any other infrastructure access that you will get in that agreement? Yeah, I would say that we are getting pretty good. I cannot go into all of the details of the contracts. We are working with them on the charging side and choosing the locations in which based on what we see on our customers' data, where we are being deployed and the build-out of their charging infrastructure network. We have good sort of collaboration on that side. I would say sort of pretty decent terms when it comes to downtime and provisions like that without necessarily going to all of the details, unfortunately. Great. In terms of the military opportunity, obviously you guys are in a unique position to support a variety of applications. Can you talk about just the pipeline of opportunities you're looking at, how you see that converting into actual sales agreements and the potential revenue ramp? Yeah. No, it's a good question. I think we're sort of in the early phases of that effort. We started actually from making the Einride Driver available, taking it basically outside of our own vehicle platforms and with the ambition of deploying it into other vehicle platforms. That was about 12 months ago or so. On the back of that, we had a pilot contract with a NATO allied organization to sort of work on a couple of vehicle platforms. We then took that to the Swedish Resilience Initiative where we're working on as well. So I would say we're in the initial phases of that. I expect that to see in terms of revenues that progressively we'll start seeing some revenues in for next year, and then gradually scaling into becoming a more and more important part of the business. Great. Thanks so much, guys. Thank you. Thank you. We have no further questions at this time, so I will now hand back to Roozbeh Charli, CEO, for closing remarks. Perfect. Thank you. Thank you everyone for joining us on this first earnings call as a public company. We very much look forward to hosting you again for our Q3 update in the fall. Please keep a lookout for that when that comes. Thank you so much for today. This concludes today's conference call. Thank you all for participating. You may now disconnect your line. Thank you.