Dynavox Group Ab

and I will cover the financials in more detail.

Great. So for those of you who have participated in these calls before, you will be familiar that we will start with a quick recap about what Dynavox Group does. Then we will summarize the main takeaways from the quarter. Linda will, as she said, dive deeper into the financials and will thereafter have a Q&A session. and you can submit the questions during the Q&A session in the Q&A function here in Teams or you can ask them live by raising your hand in Teams and unmute yourself when and then we invite you to speak and we of course always welcome offline questions sent by email to the above email address which is linda.tybring.dinovoxgroup.com But let's start with a brief overview of Dynavox Group. So first and most important is to reiterate our mission and our vision, which I know is very dear not only to our now 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 via focusing on our mission, which reads that we are empowering people with disabilities to do what they once did or never thought possible. And this also summarizes two of our main user stories. The first one, the do what you once did, that may be the person who led a normal life until a diagnosis such as ALS, which rendered her unable to control the body or communicate like before. And the other one, the never thought possible, that can refer to the child diagnosed at a very early age with a condition such as autism or cerebral palsy. where, thanks to our solutions, she can do much more than the world around her ever thought possible. And on the picture here to the right, you see Linnea, a 12-year-old girl from Gothenburg in Sweden. She was diagnosed with cerebral palsy and she's a great example of this. And some may know that Linnea was the keynote speaker at the Women in Tech Conference here in Stockholm earlier this spring. with our colleague Grit. And thanks to our solutions, she was able to fulfill one of her dreams, was to give a lecture about assistive communication in front of thousands of people. And Linnea has been a user of our products since she was about two years old. The market that we serve is hugely underserved. 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 literally remain silent. And the main reason for this spells lack of awareness, also among the professionals and the prescribers that are tasked to assist these users, combined with a poor healthcare reimbursement system. We operate with a global footprint. Today, almost three quarters of our business stems out of the US, largely because of a reasonably well-functioning funding system established some 20-30 years ago. Our comprehensive solutions are sold in more than 65 markets around the world, of which 12 are markets where we sell directly, while the others are served by a network of some 100 plus reseller partners. Our own staff is distributed in a similar way as the revenue, meaning some 50% of our staff are based in North America with our US headquarters in Pittsburgh in Pennsylvania. And our second largest office is our headquarter here in Stockholm, but we have branch offices in several European countries, as well as in Suzhou, China, Adelaide, Australia. And as of today, we are a little bit more than a thousand employees in total. We provide what we refer to as a comprehensive portfolio of solutions, and they range from the content and the language system, such as the world's leading library of communication symbols, they're called PCS symbols, and a leading solution for off-the-shelf or custom-made synthetic voices of the highest quality with a large diversity in terms of languages, ages, ethnicities, and so forth. Moving on, we also make highly sophisticated communication software that is then tailored to the type of user, which can vary greatly based on the needs of him or her. We develop and design devices, hardware with cutting edge technology and medically certified durability, including communication aids that can be controlled via eye tracking, but also accessories such as the ReHadapt mounts. We have a services portfolio to help our users through the complexity of obtaining and getting funding for their solution. And last but not least, we are there to help our users, the therapists, the caregivers and everyone through our global teams of support resources. We operate this model globally, and it's important to note that each piece in this 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 some 90% of our revenue comes from either public or private insurance providers. But this also means that we have solid paying customers, but also have been resilient towards changes in the overall economic climate. But now we will go back to focusing on the main topic of today, namely our earnings report for the second quarter 2026. If we look at the highlights, we deliver a solid year-on-year revenue growth in the second quarter. Revenue grew globally by 16% after adjusting for currency effect compared to the same quarter last year. And if we recall, last year's growth was an exceptional 38%. The demand for our solutions remains high, proving the solidity of our underlying business, and we see a robust underlying growth across all markets where we operate. The revenue in North America benefited partly from delayed orders from Q1. However, this positive effect was offset by what we see as overall longer prescription processes compared to before. So the consequence of that is that it leads to longer handing times, but there's not less opportunity out there and there is no deteriorated policies or reimbursement, just longer lead times. And in the light of that, it is reassuring that the operating profit more than doubled compared with the same quarter last year and came in at 105 million SEK, a 130% increase to be precise. The global rollout of our new ERP system that has been long in the making is now successfully concluded for all our main legal entities. In Europe, we continue to strengthen our local presence and our commercial execution, and on April 1, we completed the acquisition of our Italian reselling partner SR Labs Healthcare, and we welcome new colleagues to the team. A new health economic study focusing on the US was released and that shows that high-tech assistive communication solutions like ours significantly improves quality of life for people with disabilities while delivering clear economic benefits to society. In summary, quality of life for users improves by 65% and pays for itself more than three times over. and this study confirms what previously has also been seen in similar studies conducted in Sweden and in Germany. During the quarter, we filed a lawsuit in the US against AbleNet. Our objective here is to protect our intellectual property and to address alleged practices that, in our view, risks confusion around delivery, support and reimbursement of assisted communication technology. And then last but not least, we announced in the quarter that Jacob Tordenberg has been appointed the new CFO for Dynavox Group and Jacob will join in September this year. Linda, who you will meet soon, will remain in her role until Jacob joins and will then be available until January 2027, the latest, to ensure smooth handover and support his onboarding. So now I hand over to Linda to take us deeper into the financials.

Thank you, Fredrik. Let's take a closer look at Q2 financials. Revenue for the second quarter came in at 670 million SEK, a 16% year-on-year growth after adjusting for currency effects. Recent acquisition contributed with 4%, and the organic growth was 13%. Currency fluctuations had 5% negative impact on revenue, Sales continue to grow across all markets. In North America, as Fredrik already mentioned, we recovered part of the delay orders from the first quarter. However, the positive effect was offset by overall more drawn-out prescription processes compared to before. This is partly driven by a higher number of users changing insurance provider at the beginning of the year, resulting in additional administration, and we continue to navigate the complexity and bureaucracy of reimbursement processes. which remain a recurring feature of our markets and had been during the quarter. The gross margin ended up at 70%, an increase of 2.6 percentage point. Gross margin benefited from favorable currency effect of close to one percentage point and lower freight cost. This was partly offset by higher component costs EBIT increased by 137% to 105 million SEK, corresponding to an operating margin of 15.7%. Currency-adjusted EBIT growth was 145%. Our OPEX increased by 5% organically. The OPEX increase relates mainly to continued investments in sales and marketing staff, but also within our IT organizations. During the quarter, we continue to invest in our systems and tools, including a new ERP platform to strengthen scalability. And now we've successfully rolled out the new ERP in all our main legal entities. These non-recurring investments total to 6 million SEK, a decrease of 12 million SEK year on year. Acquisitions contributed with 17 million SEK increase over operating expenses versus prior year. We saw a decline of our long-term incentive program cost of 12 million SEK year-on-year, driven by the share price development. Costs for research and development after capitalization and amortization decreased by 17 million SEK compared to the same quarter last year, mainly driven by higher cost in prior year related to the organizational restructuring. Higher capitalization related to launch of new product and lower amortization contributed further. If we look at the basic earnings per share, it totaled to 0.7 SEC per share to be compared to last year's 0.27 SEC per share, which is a 150% improvement. For the quarter, cash flow after continuous investment was positive with 67 million SEC. It's encouraging to see that our work on improving processes and operations have had a positive impact on cash flow compared to last year. We also paid a dividend of 53 million SEK during the quarters to our shareholders. Cash at hand by the end of the quarter was 223 million SEK and net debt was 882 million SEK. The total unused credit facility at the end of the quarter was 300 million SEK. The net debt over the last 12 months EBITDA was 1.6 times. So Fredrik, back to you to conclude today's earnings call.