Senzime AB (publ)

Welcome to this Sensime Q1 2025 results interview. With me in the studio to discuss the outcome in the first quarter, I have Sensime CEO Philip Sieber. Welcome. Thank you. Nice to be here. And this morning you reported really nice numbers with really strong and impressively strong sales growth. I wonder if you just could start off with just give us the highlights of the quarter.

Yeah, thank you. Yeah, it's been a good start of the year. Good momentum. I think we're pretty much on the plans that we have set for the year. If we look at kind of the summary slide here, what you can see is that our net sales grew 94%, strongly boosted by our next generation, our new TetraGraph system that we launched in the fourth quarter of last year. The important deliveries of single-use sensors or TetraSense grew very nicely, above 100% in units as well. So we're really delivering to our installed base of units. Our gross margin improved versus last year. I think we're getting better paid and reducing manufacturing costs. Our operating expenses were pretty much flat versus last year's first quarter. And this is despite significant commercial investments that we're doing specifically in the US. So our EBITDA remains negative, but we're making major improvements and moving towards profitability within the plan that we're on.

Perfect. Let's get back to each of these points. We could start with the sales development. Really strong sales and this follows as a rather weaker Q4 last year. How much of your sales improvement is driven by a backlog going into the year?