Checkin.Com Group AB (publ)

Välkomna till dagens sändning med Check-in på Gong Group. Det har med oss idag vd Christian Karlsson och CFO Martin Boymel som kommer att presentera Q3-rapporten för 2025. Vi kommer att börja med en presentation följt av Q&A så om ni önskar att ställa några frågor så gör ni det via formuläret till höger så tar vi upp det under frågestunden. Och med det så lämnar jag ordet till er. Varsågoda!

Thank you. Good morning. My name is Christian Karlsson and I'm the CEO of Checking.com Group. And together with our CFO Martin Boyman, I'm going to take you through our report for quarter three 2025. I hope you'll be able to watch the report in the morning and we'll have some time before the webcast in the morning. I'm going to talk in general about the general development of the company, following up on Martin's figures. Efter en kort summering så öppnar vi upp för frågor. Under kvartal 3 så har vi en kraftigt förbättrad evita marginal samtidigt som vi fortsätter jakten på att få tillbaka tillväxten igen. Vi landar i kvartalet på en omsättning av 17,4 miljoner kronor vilket är en nedgång med 4% från förra kvartalet. The decline is mainly driven by a little less income within the travel segment. The cost focus we have had in the last six months has now begun to replay itself on the figures. We have had our next highest EBITDA margin in the history of the company. We continue at the same time to work to further optimize the organization against profitability. And the majority of the cost savings are expected to give effect during part of quarter four now. As I mentioned earlier, compared to the previous quarter, we had minus 4% and 6% versus last year. And with that, we move on to the next slide. After the end of the quarter, we have signed an agreement with Visma. The agreement means that we will be an integrated part of their platform. And above all, there has been an interest from their customers on their platform to take part in the technology we provide. With that, above all, it opens up for us to reach more verticals and a possibility for us to distribute softwares on a completely different scale compared to before. We expect that the first customers will be launched in a few weeks. After the end of the quarter, a deal was signed with New Zealand's largest casino group, Sky City. Planen är att de också ska gå live under slutet av året. Man kan väl nämna lite finansiellt om den här typen av avtal är att det finns en månadslicensavgift som startar egentligen vid signeringen av avtalet och sedan så finns det en rörlig modell som är egentligen beroende på hur stor del av trafiken de egentligen har på mjukvaran. Därför är det väldigt viktigt för oss att de driftsätts ganska så snabbt We see that the omni-channel part is a big part of the demand in iGaming. It's mainly concerns that go from a physical environment to a digital one. We also believe that the French casino group Casino Barrière is expected to be launched at the end of the year. Generally, we see right now that Vi har bra momentum i just iGaming-vertikalen. Det känns som att vi verkligen har börjat komma tillbaka där igen. Framöver ser jag att det är framförallt den intäktssidan som kommer att växa och som kommer att vara den viktigaste vertikalen för oss de kommande kvartalen. Marknaden för biometri och ansiktsigenkänning väntas växa ungefär 15% globalt årligen de kommande fem åren. Vår bedömning är att det finns runt 4-5 miljoner bolag globalt idag som direkt eller indirekt behöver använda någon form av denna teknik. Above all, what drives development is new regulations globally, increased demands on who is behind the scenes and above all the development of AI fraud or so-called deepfake. Within the industry, there is also a big consolidation, where we see above all many larger multinational companies that buy niched companies within just one area. Vår finansiella målsättning har varit det klassiska SAS-målet Rule of 40 som mäter lönsam tillväxt. Målet har varit att maximera summan av tillväxt per aktie i kombination med ebitda marginal. Vår ambitionsnivå har varit att nå över 80% över tid. Vi har tidigare informerat om att vi inte kommer att nå målen för 2025. Med bakgrund av det, med det PM vi skickade ut igår, så har styrelsen beslutat att slopa det här målet tills vidare. And with that, I would like to turn it over to our CFO, Martin Boimel, to go through the financials.

Thank you, Christian. As usual, there will be a bit of an axiom of the figures. There are a lot more figures in the report itself. But to start with, the net turnover, as Christian mentioned, decreased during the quarter, down 6% compared to the same quarter last year. It landed at 17.4 million SEK. Here we lost a little due to currency exchange changes. If you adjust for that, it looked a little better, down minus 3% compared to last year. And compared to Q2 this year, the turnover went down 4%. The brutto result landed at 12.7 million kronor in the quarter and it was a margin of 73%. EBITDA went up to 6 million, with a margin of 35%, and that is actually the next best quarter marginally in the company's history. The cash flow from the running business increased by almost 300,000, and we ended the quarter with a cash flow of over 14 million kronor, and the solidity was 92%. If you look a little closer at the net turnover, you can see in the graph that we are down a little compared to last year. We lost 6% compared to last year and the net turnover was 17.4 million. This was mainly driven by the poor development of our existing customers. Here we have previously talked about from our earlier customer RingCentral. And that impact does not affect Q3 at all. But if you look at the year-to-date figures, then the entire year-to-date stage is driven by the development of our customer RingCentral, which we talked about earlier. So when you look forward from now, it will not have any impact on the figures or the comparison in the figures. If we move on to the gross profit, it decreased to 12.7 million kronor per quarter and a margin of 73%. The margin is in line with what we've had in the past 12 months, but lower, as you can see in the graph to the right, a little lower than what we've had in recent years, if you look back. Here we have continued to work with cost optimizations, especially in server capacity. But, as we talked about earlier, many of these costs, direct costs that affect the gross margin, are of When we are well prepared for growth, the gross margin will automatically rise, and vice versa. If we lose revenue, the gross margin will go down, and so on. So that's what I can say about that. Moving on to sales and marketing costs. Even here, as we have been talking about, we have put a lot of focus on optimizing the costs. And this also applies to this area. We have optimized processes, looked at all costs, and here we have put a little less money than in the previous quarter. Under Q3 2025, we put 2.9 million on sales and marketing costs. And it corresponds to 17% of the net turnover in the quarter. And if you look at this year, we are at 20% of the net revenues. And when you come down to EBITDA, as we have been talking about, we have We have had a lot of focus on the cost side, and that is of course affected by EBITDA when you sum it all up. That is why EBITDA has risen to 6 million in the quarter, and that corresponds to 35%. As I mentioned earlier, this is our next best quarter marginally in the company's history. And if you look at year-to-date this year, we are at 21% during the first nine months of the year. And finally, we ended the quarter with a budget of over 14 million kronor. And if you adjust for our loans, the net budget was about 9.5 million kronor at the end of the quarter. And the solidity was 92%. And with that, I'll leave it back to Christian for some closing comments and questions.