Dynavox Group Ab

Right, it's nine o'clock. Good morning and welcome to this earnings call where we will mainly cover the fourth quarter of 2025, summarizing our business then in October, November and December, and also some comments regarding the full year of 2025. I am Fredrik Rubin. I am the CEO of Dynavox Group.

And hi, I'm Linda Tybring and I'm the CFO of Dynavox and I will cover the financials at the end.

Yeah. So for those of you who have participated in these calls before, you will be familiar that we'll start with a quick recap about what Dynavox Group does. And then we will summarize the main takeaways from the quarter and the full year. We will dive deeper into the financials and thereafter there will be a Q&A session. And you can submit questions during the Q&A session in the chat function here in Teams, or you can ask them live if you have been given prior notice to our team. And of course, we always welcome offline questions sent by email to the above email address, which is lindas.tybring at dynavoxgroup.com. Alrighty, so a brief overview of Dynavox Group. First and foremost, it's important to reiterate our mission and our vision, which I know is very dear, not only to now our over 1,000 colleagues around the world, but also to our ecosystem of partners and investors. And our vision is a world where everyone can communicate, and we will contribute to this by focusing on our mission, which reads to empower people with disabilities to do what they once did or never thought possible. And this also summarizes two of our main user stories. The do-what-you-once-did, that may be a person who lived a normal life until a diagnosis such as ALS, which rendered her unable to control the body or communicate like before. The other story is the never-thought-possible, and that can refer to the child diagnosed at an early age with a condition such as autism or cerebral palsy. where, thanks to our solution, he can do much more than the world around him ever thought possible. On the picture here, you see Elaine from Lawrenceburg in Kentucky in the U.S., and she's one of our amazing users diagnosed with cerebral palsy, and she's a great example of this. So the market that we serve remains hugely underserved. We estimate some 50 million people have a condition so grave they simply cannot communicate unless they have a solution like ours. And every year, about 2 million people are being diagnosed, and yet we estimate that only some 2% of those are actually being helped, and the rest remain silent. And the main reason for this spells lack of awareness, also among the professionals and the prescribers tasked to assist these users and poor healthcare reimbursement systems. We operate with a global footprint. Today, some three-quarters of our business stems out of the U.S., largely because of a reasonably well-functioning funding system established some 20-30 years ago. But our products are also sold in more than 65 markets around the world, of which 11 are markets where we sell directly, while the others are sold by a network of some 100 reseller partners. Our own staff is distributed in a similar way as the revenue, meaning that some 60% or so of our staff are based in North America, with our US headquarters in Pittsburgh, in Pennsylvania. And our second largest office is our headquarters here in Stockholm. But we have branch offices in several European countries, as well as in Suzhou, in China, in Adelaide, in Australia. As of today, we are just north of 1,000 employees in total. We provide a comprehensive portfolio of solutions, ranging from A, the content and the language system, such as the world's leading library of communication symbols, and they're called PCFs, and the leading solutions for off-the-shelf or custom-made synthetic voices of the highest quality with a large diversity of languages, ages and ethnicities. Then we also do highly sophisticated communication software tailored to the type of user, which of course can vary greatly based on the need of that individual. Then we develop and design devices with cutting edge technology and medically certified durability, including communication aids, controlled via eye tracking and accessories such as the ReHadapt mounts. We have a services portfolio to help our users through the complexity of obtaining and getting funding for solutions. And then last but not least, we are there to help our users, the therapists, the caregivers through a global team of support resources. Then, as mentioned, we operate this model globally, and it's important to note that each piece is critically important and also a significant differentiator for us, making us absolutely unique. Our go-to-market model is predominantly as prescribed aids. That means that some 90% of our revenue comes from public or private insurance providers. And this also means that we have solid paying customers and have always been resilient towards changes in the overall economic climate. Alrighty, but now we will go back at focusing on the main topic of today, namely the earnings report for the fourth quarter 2025. If I would be looking at the highlights, we had another strong quarter when it comes to revenue growth. The growth compared to the same quarter previous year sums up to 31% after adjusting for the currency effects. And this marks a further acceleration of an already strong trajectory over the past four years. The demand for our solutions remains high, proving the solidity of our underlying business, obviously, but we also see a robust growth across all geographies and markets. We continue seeing increased growth in the touch control product portfolio, which typically then serves younger users with autism. However, in the quarter, we also continue to see good traction in the eye gaze control solution, serving users with more complex needs. Our EBIT came in at 103 million SEC, and this includes non-recurring costs of roughly 17 million SEC in the quarter, and that implies then, of course, an even stronger underlying profitability. In November, we moved our entire North American headquarters and logistics hub to a brand new location from where you will see pictures during this presentation, including on this one. And then last but not least, on December 23rd, we entered into an agreement to acquire all the shares of our Italian reselling partner, SR Labs Healthcare. And I will come back to that in a little bit. If we then instead look at the full year of 2025, we can conclude that it was a solid regarding our top-line growth. In local currencies, the growth was 34%. Our profitability improved in the year. The EBIT grew by 11%. Earnings per share grew by 13%. And this really proves the case that our business is continuing to scale quite well. And the fundamental factor behind this is, again, the hugely underserved potential in the market that we addressed. The growth in profitability during 2025 should be seen in the light of the investments that hit our P&L with around 100 million SEC in total of non-recurring nature related to two main projects. First, the new ERP system that was successfully launched in North America on July 1, which represents some three quarters of our business. And this new system lays the foundation for a modern, highly digitalized and scalable backbone. And then in November, we finalized the consolidation of the product and development organization into a central hub in Stockholm, reducing our U.S.-based team by some 50 FTE and in parallel building up an even larger team here in Stockholm. And as a company with a clear focus on innovation, having our product and development function concentrated in one location enables further scalability and resilience. Another important way to scale and grow our business is to expand our direct market and the presence there. More than 70% of our revenue from Europe and the rest of the world comes from markets where we have direct presence. In 2025, we completed the acquisition of former reseller partners Zenemy in France and RehaMedia in Germany. And, as mentioned, on December 23rd, we announced our third acquisition for the year, this time in Italy, where we agreed to acquire our reselling partner SR Labs Healthcare. The company reported revenue of approximately 3 million euros in 2024. And we are paying the current owner 4.2 million euro in cash at closing. And the closing is expected during the next half year when we look forward to welcoming some 10 amazing new colleagues to our team. But now I hand over to you, Linda, to take us deeper into the financials.