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Ladies and gentlemen, welcome to the Software 1 Q3 2025 Trading Update Conference Call and Live Webcast. I am Valentina, the Chronos Call Operator. I would like to remind you that all participants will be in listen-only mode and the conference is being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and 1 on your telephone. For operator assistance, please press star and 0. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Kjell-Arne Hansen, Head of Investor Relations at SoftwareOne. Please go ahead.

Good morning, and thank you for joining SoftwareOne's Q3 2025 Trading Update presentation. My name is Kjell-Arne Hansen, Head of Investor Relations at SoftwareOne. Joining me today are co-CEOs Rafael Herr and Melissa Muhalla, and our CFO Hans-Peter Schreier. In terms of agenda, Melissa and Rahal will start with a summary of our Q3 performance. Hans-Peter will then take us through our detailed financial performance. And finally, Melissa will share an update on integration and closing remarks before going into the Q&A. Before handing over, please let me draw your attention to the disclaimer regarding forward-looking statements and non-IFRS measures on slide 2 and 3. And with that, I will hand it over to Melissa.

Good morning, everyone, and welcome to our Q3 2025 presentation. In Q3, we continue to build momentum as one integrated organization. Our focus remains on execution across our operational business performance, delivery on synergies, supporting customers and partners, and positioning Software One for sustainable, profitable growth. Let's look at our Q3 performance. On a reported IFRS basis, revenue grew 46%, reflecting the consolidation of Crayon from July 1st. I will emphasize the combined like-for-like view as it best reflects the underlying performance, as well as what we have framed our 2025 outlook on. On a combined like-for-like basis, I am very happy to report that Software 1 is back to growth. Our revenue grew 0.6% year-over-year in constant currency. Adjusted EBITDA increased 18.1% to 65.2 million Swiss francs, with margins improving 2.9 percentage points to 19%. This reflects early benefits from integration and previously initiated cost reduction programs. Additionally, on a like-for-like basis, our reported EBITDA improved from 30 million to 42 million, reflecting a growth of 39.6%. Slide 7 illustrates the combined growth performance since 2024. Following three quarters of negative growth as we have implemented the go-to-market model, navigated Microsoft's incentive changes, closed the transaction between Software 1 and Crayon, and started the integration, we returned to positive growth in Q3. The trend is improving quarter-on-quarter since 2025, driven by stronger service growth and early signs of cross- and up-sell opportunities materializing. also reflecting stabilization across NORAM, go-to-market, as well as easing of the negative impact from Microsoft incentive changes. Turning to our businesses, direct, channel, and services, we continue to see steady progress and improved growth trend across the combined model. Each business plays a distinct role, and together they give us a balanced exposure across segments, regions, and customer buying behaviors. Our direct business declined by 8.2% in constant currency in Q3, as changes in incentives for enterprise agreements continue to weigh on the business throughout 2025. Meanwhile, the enterprise agreements to CSP conversion is gaining strong momentum, supported by Microsoft's commercial changes, which are expected to further accelerate customer migration and strengthen the CSP value proposition. Revenue in software and cloud channel increased 18.3%, driven by strong Microsoft CSP performance, continued AWS momentum, and successful investments in large, high-potential markets such as NORAM and APAC. Software and cloud services delivered revenue growth of 5.9%. The performance on a regional basis is supported by solid improvement in the Nordic services business, as well as strong growth in APAC and rest of EMEA. We see continued demand for cloud optimization, as well as AI and cybersecurity services. Customers increasingly focus on hybrid and multi-cloud environment, and we see strong growth in AWS in particular. In bringing the organization together, we continue to leverage the combined capabilities and have increased the usage of internal resources in our project delivery, resulting in higher utilization. I will now hand it over to Rafael, who will give you an overview of the regional performance, including a closer look at our strategic focus and importance of our NORAM business.