Good morning, welcome, welcome to everyone online and in particular, everyone live. It seems to get a bigger and bigger audience.

We had several hundred joining online last time, it will be exciting to see this time. Also, thank you so much to SpareBank 1 hosting us today back here.

Good to see you all. We have the pleasure today of presenting Q1 for '26.

On stage with me today, we will have our CFO Knut. We will also have Kjetil, our CCO.

Also from Sweden, from Malmö, we have the pleasure to have Tommy with us today. We have a very important update from the senior division, from Doro today as well.

As always, I will end everything with a little outlook, adjusted outlook, and a Q&A. Without further ado today, because we have a lot on the plate, very excited to share, we would like to start with the Q&A-- just at a glance, to give you the high-level numbers before we dive into some of the more details.

For the last couple of times, we, of course, always now report as one group, we'll give you the high-level number. Knut, of course, will go a little bit more into some of the details, both financially, but also operationally.

We'll take that a little bit later. From a high-level perspective, the group revenue in this quarter ended at 376 million, up 11% from same period last quarter, of which our recurring services, very important KPI for us, 92 million, up 15% year-on-year.

Our gross profit, as you can see, arrived north of 200 million, up 7%, and the subscription base, also very important KPI, arrived at 474,000, up 32%. We'll come back to that as well, as this is a very important driver.

We also had our highest reported EBITDA at our first quarter at 28 million, up 58%, and as we presented last quarter, we will be focusing a lot to report and, of course, drive the best possible EBITDA adjusted or after our capital expenses, coming in at 19 million. That's actually up 17 million from same period last year.

This quarter, we had a cash balance ending at 534 after we had our capital event during this last period as well, up 26%. That's the group number for our first quarter.

Normally, I now go straight into some of the highlight from Q1, and then Knut will take you through some of the details of the financial. We do know it's in particular one thing I think all our shareholders are looking forward to get an update on, and that is exactly how is our retail expansion when it comes to SIM connectivity for the senior market going.

Tommy will take you through a lot of those details a little bit later, but I just wanted to flag and highlight that now during Q2, we had a breakthrough when it comes to the first major planned rollout taking our SIM connectivity in the senior market into one of the biggest retailer in the Nordic being Power. It's been a lot of work.

As we are very familiar with our smartwatches for kids. That was the first time ever such a product with a pre-installed SIM card was ever launched in retail, we got all sorts of waiver.

Everyone just wanted that product into the store, we were able to quite quickly expedite that into the store. We thought it's probably somehow similar, maybe a little bit more work, to get this also into SIM card with the senior mobile phone.

However, would you believe, there is a lot of mobile phone into retail and telco store, we had to adopt to the same structure, the same processes, all the same backend activation, whatever have you, as all the major mobile operator, Telenor, Telia, you name all the suspects, right? A lot of work was actually required to do this in order for us to roll out that service into retail store.

It took more time than we expected. It's now done, and we can replicate that into multiple retailer as well.

Just wanted to flag that, but you will get all the details from my colleague Tommy a little bit later, but that's very, very important for the business. Back to Q1, I still wanted to highlight a couple of thing that we focused on in the first quarter before Knut will take you through some of the details.

Because historically, Q1 is one of the more quiet quarter through the year. It really accelerate from Q1 forward, having Q3 and Q4, of course, being the biggest quarter for us in a lot of these activity.

We decided to really invest a lot of time and also operation in Q1 in order to really maximize what we can achieve during Q2, 3, and 4. A couple of highlights.

One of the thing is some year ago, we said you shouldn't be surprised that in a couple of years the youth market, being mobile phone safe for children the age 10 to 14, 15, you shouldn't be surprised if that market actually will outgrow the market for smartwatches for kids. We started really to invest in that a couple of years ago.

Really throughout this quarter in particular, we have spent a lot of time because we have been invited to a lot of various event, not just in Norway, but also internationally. Q1, we invested quite some time traveling around and really becoming a leading voice in that category.

We've been in everything from the debate here at-- and and Arendalsuka in Norway to really discuss these topics, to also leading multiple device in the global scene as well, very, very important for us. Secondly, since we are really focusing on having a good opex in association to our revenue, our cost base, as we are seeing growth is important, but profitable growth is even more important.

Meaning initially, we had a platform for Xplora. We were then developing a platform for Doro.

As we have an M&A strategy, we would then develop multiple various platform: Xplora Connect, Doro Connect, add some names plus Connect. In order to really have a scalable, very high profitable model, we also used Q1 to scale this strategy slightly different.

Now we have one unified platform, one family IoT platform, one SIM platform, which is all named Xplora. When we are adding new product from senior, from Doro, for example, if we are acquiring another company, everything will be based on one family IoT platform, Xplora, and one SIM service, also called Xplora.

That allows us to scale much better, but also keep our cost base at a much more good, or a much better level as well. The third element I would like to bring to the attention as well, as we announced immediately when we acquired Doro, we also said that we would have operational synergy from a cost side of roughly 30 million NOK.

After having had the pleasure to work a lot with Doro and the Doro team throughout the last year, we have also seen that we have significant opportunity to also further streamline a lot of our processes. They have a lot of knowledge to bring to the table.

Sitting down together, we now see that we actually can increase this effect from 30 to 50 million by improving a lot of our processes, basically to become more efficient in that regard. That will be something that will be triggered 12 to 18 months down the line in association to the current revenue and cost base.

That should also be very favorable for you when you do all your analysis. The last thing I wanted to bring to your attention is that also we announced our offering to acquire Emporia, also a company within the senior category.

Doro is by far the leading player in multiple European market, except two market: the German market and in Austria. There Emporia is the category leader.

Hence we provided an offer to acquire them, you could see a little while ago. With this acquisition, we will potentially be able to increase the size of this market with 30%.

Of course, we'll report that as soon as further progress, but we are closing the due diligence process. A lot of very important topics has been achieved during Q1.

Most of them have been absorbed during our cost structure from an operational perspective, which Knut will come back to. Allow that to be a good segue into the financial details.

Thank you, Sten. Good morning.

I'm going through the financial performance for Q1. Q1 is seasonally our quietest quarter, but we have used it well.

If you see all the metrics, you see the revenue growth. We have grown by 11%, as Sten said, to 376 million NOK.

Device revenue increased with 10% to 284 million, and service revenue increased with 15% up to 92 million. The gross profit was also up to 204 million, up 7%.

The EBITDA reported was 28 million, that's 10 million up compared to same quarter last year. One important point here is that we are a development company.

We invest in IP and technology, we capitalize some of our costs during a quarter. In Q1, we capitalized 9 million, and that's quite low level of capex compared to our normalized capex level.

If you adjust for the capex that we did in Q1, our EBITDA after capex was 19 million. Compared to a year ago, it shows a very, very strong increase in the result.

When you see in the group, we increased then of course 38 million year-over-year in group revenue and follow the same seasonal pattern as we have done in several years. Now you have the full year of consolidating the whole group, meaning Doro and Xplora.

Our gross profit also grew to 204 million. The gross margin went down 2%.

There is one important item and reason for that because in Q1 2025, we had some extraordinary costs that was reversed in the accounts, meaning that the gross margin was a bit inflated. Adjusting for that, we are actually growing on the gross margin line as well in the quarter.

As you can see, the EBITDA is then up 10 million year-over-year. When we go into segment children and youth, we have renamed it from kids and youth to children and youth to be more exact.

We also increased the revenue in that segment with 15%, 235 million. The subscription revenue is growing and the service revenue is growing as it should do, and also the device revenue is increasing year-over-year in that category.

You can also see that the gross profit is increasing during the quarter year-over-year, and the gross margin is stable. When it comes to the senior segment, you can see that the revenue is also increasing in that category with 7% year-over-year, and the gross profit is stable during the quarter.

If you then look at the full profit and loss statement, we have an EBIT improvement of 10 million to 10 million from a loss last year. You see the depreciation and amortization is down year-over-year.

Last year, it was the last quarter we had amortization of the customer contracts, if you do remember them, and 18 million is more or less the level that we should traditionally be on the depreciation and amortization line. When it come to finance income and expenses, you can see that there is a huge gain in the quarter, and the majority of that is related to non-cash impact of our loan because the euro has gone down during the quarter.

That's the main reason why we have such a high financial income during the quarter. The negative one in Q1 2025 is of course related to us refinancing the acquisition loan of Doro and taking up new debt, in addition to some currency impact.

The interest expenses of the loan by itself during a quarter is around 14 million NOK. This is also a very important slide.

As we grow our revenue and keep our costs in balance, we continue to have operational leverage and reducing the LTM operating costs to 39% compared to 42% a year ago. We see that as Sten said, we can continue to improve our process benefits going forward, we expect this is continuing in a good direction.

Balance sheet: there are a few things that is quite important. One is that we are in a global, more uncertain period, and we are focusing very much on the working capital elements in this, because we need to have products at the right time, at the right cost.

What we are doing is that we are moving more goods by ship instead of air freight in order to save transportation cost. We are also making sure that we are hedging our currency well ahead of actually paying for the goods, we have that in good shape.

We are also making sure that we have good inventory level, we can supply to our customers when they need products. This is a very important part and very important for why we have a good cash balance, we can actually do these things.

I think that's the most important point in the balance sheet, beside that we also have, of course, now a cash position of 534 million compared to 423 a year ago. Summing up, we have the cash starting quarter 423, good strong profit before tax.

We are focusing on the working capital elements. We did a very good net share issue in the quarter, ending the cash end of quarter at 534.

That's the financial update. Thank you very much.

Kjetil.

Thank you. Good morning, everyone.

I'll give you the operational update, starting with the unit sales of connectable units. That means mobile phones and smartwatches.

We saw that in the senior segment, we had an increase from 296,000 units to 326,000 units, and an increase both on the feature phones and on the smartphones. On the kids segment, we increased the watch and phone sales from 26,000 to 44,000 year-over-year.

In the senior segment, there was a growth of 10% and 67% in the children and youth segment. We introduced Xplora 1, the start phone, on the 2nd of February, so that's also a new element coming into the children and youth segment.

On the device revenue, it was up 10% to 11%, 7% in the senior segment and 32% in the kids segment. If you observe that there is a big difference in the let's say the increase of units versus revenue on the children's side, it's related to a very strong sell-out of devices in Germany, where we subsidize the prices, and that's an important reason for that big discrepancy in the percentage increase.

We had 38% of the watches activated with the recurring service in the children and youth segment. When we say watch activation, that means the first-time usage by a new end consumer.

We saw that the total channel sell-out in Q1 was 93,000 versus 84,000 last year. Channel sell-out is the combination of the sales in our Xplora web shops, on Amazon, in telcos, and retailers.

The service attachment rate, which is the subscription sales, meaning connectivity, B2B services, over the watch activations, increased to 38%, and that's the latest 12 months rolling number. That was up 1 percentage point compared to last year.

Given the strong increase in the total number of activated watches, you see that that contributes to the service growth. The service subscription base in the kids and youth segment increased by 32%, and the total subscription base by 116,000 year-over-year.

Then there are four categories. The mobile subscriptions ended very close to 300,000, and that was a growth of 17% or 44,000 units year-over-year.

We see that we continue to grow stronger outside of the traditional Nordic markets. We had a growth of 33,000 units year-over-year or 45% outside of the Nordic.

The leading market is Germany. We ended the quarter with 73,000 subscriptions, and that was up 76%, really growing very strongly in the German market.

The premium services, which is the activity platform, is a value-added service. We sell it either bundled together with the mobile subscription plan or we sell it directly in the Xplora app.

That grew by 48,000 year-over-year or 62%. The B2B subscriptions is the service revenue we get from our telco partners in Europe, both Nordics, in Germany, and in the US, grew by 62% or 12,000 subscriptions.

The service fee is for customers who want to use a different SIM card than Xplora's. There we charge a usage fee for using the app and our services, grew by 184% or 12,000 year-over-year.

That's also because we have introduced it now in Spanish retail channels, and we have also introduced it in some of our Amazon markets. Combined, very strong growth again, up 32% or 116,000 year-over-year.

The service revenue up 15% in this quarter compared to same quarter last year, and then ending at 92 million for the quarter with an annual recurring revenue of 367 million. Again, you see the strong growth in numbers reflected also in the revenue side.

We see that 26% of the service revenue came from outside of the Nordic markets, which is up 4 percentage points compared to same quarter last year. We estimate our German operation actually to have the single highest mobile subscription base during Q4, not necessarily the highest revenue because the ARPU is lower in Germany than in the Nordics, but the highest mobile subscription base, growing very, very strongly.

When it then comes to the service revenue and the ARPU, ARPU is the average revenue per user from mobile subscription, including the premium revenues. When we grow so strongly outside of the Nordics, it makes sense not to use a blended ARPU figure, but to split between the Nordics, Germany, and the other markets.

We see that there is quite a big difference in the ARPU. It's 114 in the Nordics, and it's 69 in Germany.

The reason for that is, of course, very different pricing, but the margins are not that different, meaning that we have a very low cost on our network side in the German market. The group service margin target is stable around 80%, and that's also our long-term expected figure for the market mix.

What helps is to add premium services, we have had a growth in the share of subscriptions sold with premium services over the last couple of quarters. In the Nordics, we have a very high ARPU relative to our cost.

It varies a bit between the Nordic markets, but in general very high, very stable. We also see that we have been able in the Nordics to increase the ARPU over time.

We have been doing that in various manners, by increasing the share of premium services added to the mobile subscription plans quite significantly. We now exclusively sell the premium service combined with the SIM cards on our web shops in the Nordics.

We have also done regular price increases every year. While in Germany, you see it's a lower ARPU.

It's typically a €6.99 price, and that is the price level in general for these kinds of subscriptions in the German market. At the same time, we have a very, very low cost on the network side, the margin is quite close to the Nordics actually.

We also see in Germany that almost all of our subscriptions are sold on a 24 months plan, on a contract. That means that we have a very stable lifetime value of our German customers.

That was a quick update from me, and then I hand over to Tommy.

Thank you, Kjetil. Good morning, everybody.

We are in very exciting times. A lot of things are happening within the group.

A lot of teams are cooperating in order to support the senior segment: sales, marketing, tech, finance, and operations. As Sten and Kjetil and Knut presented, Q1 was solid.

Good results has been delivered in Q1. Sales has done a very, very good job in terms of delivering the numbers.

Marketing has supported in terms of marketing activities to generate sell-in and also sell-through across the different markets. Tech team has worked very, very hard in order to deliver opportunities going forward.

April, May, we introduced Doro Connect, Denmark and also in Germany. What Sten mentioned, we are also very, very excited.

We are bringing Doro Connect into retail. I'm coming to that a little bit later on.

Sales team is doing a good job, and the award of supplier of the year from Elon is a good evidence of that, maintaining good relationships with the customers out there, and that will help us also with the plans that we have for the rest of the year. Collaboration across the company in terms of cross-sales of Xplora watches through Doro channels is something that we have started.

We've received the first orders, we have started also with the first shipments. We are very, very proud of that collaboration within the group.

We're also preparing Xplora 1 to roll out in the Nordics together with the team. Premium services is what will happen in 2026.

Tech team is working very, very hard on that, and I will come with some more updates on that one. I would like to elaborate a little bit on this.

Our strategic priority is clear. We want to be the leading European family IoT system and global connected platform.

One platform that will be able to be used across the generation: children's, youth, parents, and seniors, and also across devices, as you can see on the right side of the picture: Xplora devices, Doro devices, potentially Emporia devices, supporting Samsung devices, supporting iOS devices. One platform across generations and also products.

This will help us to bring our value propositions more speedy towards the market. We will also be more cost-efficient to operate the platform.

Instead of having several platforms, we will have one base where we will do all the investments going forward. This will also help us with the service expansion.

When we have built the foundation, we can also bring it faster to the market. This platform is the enabler for achieving this.

Without the platform, we couldn't have done this: Doro premium services. Tech team working very, very hard in order to deliver this.

Our intention is to deliver premium services in the end of June for our smartphone category, which means we will provide a software update for the existing installed base. Consumers will be able to download the software, and together with the guardians, they will be able to activate the service.

Later this year, our plan is to have a full commercial launch of the feature phone segment, the big segment that we have, and that will come in September launch time. Going forward, the premium services: we know the pain points of the seniors out there today, and we want to address those pain points.

We want to help them. Scam protection, we all know that is a big, big issue.

Not only for the seniors, basically for all of us, but in particular for the seniors. We have a solution for that.

We all know who have family members that are getting a bit older, they have difficulties to use the device, sometimes they get lost, sometimes they change something in the settings and they can't find it and change it back. We have a solution for that.

Some of us are acting as technical support for our seniors. I'm doing that for my parents.

My kids are doing that for my parents. I guess that you recognize that.

Some of you are perhaps doing the same thing. Now, we will also provide a solution as part of the premium service package, which means we will be able to support seniors remotely.

Health and well-being, how can we contribute to that segment? What we will also include in our premium service offering is that the service will be able to provide notification to family members if the senior hasn't used the device for a certain time period.

A notification will be sent, and then they can reconnect. What we are about to do is to provide solutions for pain points and also help connections between family members and seniors, since we know that connection between ourselves is very, very important.

We are very proud of this. We are bringing Doro Connect to retail together with Power.

We all know Power, a big retailer in the Nordics, good presence in Norway, Sweden, and also Finland and Denmark. We have an agreement with Power to bring it to the market.

We will start in June with a technical go-live, which means that we will validate the offering together with Power. Then in August timeframe, we will do a full launch in 160 stores across Norway and Sweden.

Specific milestones that we have achieved during this process is that the tech team has focused very much on delivering a point of sales system. That's a key enabler for going into retailer.

We have also had opportunity to join Power when they have had their annual event that is called Power Up. We have been present, we have presented Doro Connect, we have explained the proposition.

People understand the proposition, people believe in the proposition. Our marketing team has worked very hard in terms of defining how can we bring it and how can we communicate the propositions in the retail channels.

That has also been shared together with Power, and we are working together with Power how can we utilize their channels to further communicate the value that we will bring through Doro Connect. All in all, this will help us to scale.

This is the first step that we're doing in retail, and by validating it properly, that will help us also to scale it up further on. A key critical success factor is the point of sales system that the tech team is working on.

We know that people in retail, every minute counts. Or I should say every second counts.

Things needs to be simple, things needs to be very, very efficient. From the time when you do the login into the system, you register the senior, you select the plan, you review the order together with the client and the customers, and then they complete the activations.

Simplicity has been a guiding star for us when we have designed the system. Really, really, really crucial for us.

Tech team together with our partners has done a very, very good job, and we are about to finalize it so we can also start with a pilot as I mentioned in June timeframe. To extend the commercial ramp-up and to build a strong platform, what is key here is that we are disciplined in terms of building the foundation, to secure that we have a full proposition, the platform is in place before we do further scale-up.

What we're planning to do is utilize the experience from the children segment to sequencing the launch, which means focusing on securing a good value proposition, validate the proposition, validate the technology, and also validate the whole concept first, and then we can scale as a second step. This is where we are today.

We are available in seven markets with Doro Connect on our own .com channels. What we're focusing on right now is sales optimization.

Far the focus has been to secure geographical presence. We have that right now.

How can we maximize that? How can we optimize sales?

How can we do A/B testing? How can we learn in order to understand consumer behavior and optimize the proposition, how we present it to increase our sales going forward?

Amazon channel: we are available in Sweden, and we're also looking into how can we optimize and bring that to further markets in second half of this year. Retail: starting in June with the first pilot, Sweden and Norway.

We will extend that later on to Denmark and Finland. Towards the second half of 2026, we will also work with more retailers and bring Doro Connect to more retailers across Europe.

That's it. Sten.

Thank you, Tommy. I'm privileged to have such a great team presenting, I will try to wrap it up with a slide.

Hands down, we have never had such an exciting Q1 ever. Just wanted to end on the outlook using actually one of the slides from Q4 previously, where we highlighted a couple of things for us: very crucial to focus on growth as long as growth is very profitable.

Our subscription base is core of what we do, and EBITDA, we would like to in particular report on after reducing the capex. We also told you, as we said on the capital market day some years ago, we are waking up every single day with one objective: how can we reach 1 million subscription?

Everything we do that does not fuel energy into that goal, we should not really do. We had a very simple breakdown on the capital market day, how would we achieve by '28 to 2029 1 million subscription?

One core element is to every, every single year at least reach north of 100,000 kids and youth subscription, or children and youth subscription as Knut said. This year so far, we are above that target, adding more than 100,000 children and youth subscription, allowing us on top of that within '28 to '29 add 200,000 senior subscription as well, which will accumulate to 1 million subscription.

That's why it was so important for us today to really spend some time in detail with Tommy to now explain we started online, the smallest channel, just to validate the technology, the activation, that there is a demand for buying SIM card from Doro. When that seemed to worked, our majority of focus and energy has now been put into how can we execute this in retail, as retail by far is the biggest channel.

As I said initially, that workload was significantly higher than the workload doing that with the kids smartwatches, but as Tommy said, all that work is now completed, and we can start in the first major retailer, get all the learnings. We have seen a huge opportunity to add what we have defined as the premium services, not just to give a better proposition, but potentially to convert higher SIM number eventually, but also to potentially drive an even higher ARPU.

We are really planning long-term to have the best possible solution to grow with. What you also can see, on every single possible metric, we have had organic growth.

When it comes to sale, every single category, every single product, on subscription across all the various market, on every single metric, we grow organically. I think that's a fantastic achievement to the team, as you said, in the current market climate.

All metric. We have shown we are adding more than 100,000 new subscription.

Tommy said we are now preparing to ramp up senior in retail, which will be very, very important. By working smarter, utilizing the competence from 50 years of experience from our Doro team member, now becoming a bigger company, we also have said we can increase these cost synergy, uplifting them from 30 to 50 million in 20-- or 12 to 18 month.

Compared to the same level of revenue, we should have the opex level 50 million lesser. Of course, even though we grow organically, we are also continuing to explore inorganic opportunity to further fuel our growth, to really secure by '29 we will have 1 million subscription.

That was the end for today, and please welcome all these keynote speaker on stage, and we can move into our Q&A session. I will try to be the moderator.

I know there will be a lot of questions, while you guys live prepare your question, I can start to read someone online. The first one, "Congrats with a strong launch of Xplora 1, the new category.

When do you expect the first meaningful revenues from this product in the Nordics?" Kjetil, would you like to go first?

I would say it's already there. We started on February the 2nd.

We have sold 2,000 units exclusively on our web stores in several markets, and also started on Amazon. Now we have sold it into various retail channels, you'll see it present there within very short time.

I think Q1 is always the weakest quarter, and I think it's a very solid start.

Makes sense. "Can you explain the difference between rolling out the Xplora subscription and the Doro Connect?

I thought we did that in detail, but let's give it one more chance." Anyone?

I'm quite familiar with it. The Xplora subscriptions, the SIM cards or the eSIM profile is pre-installed in the devices.

That means that the customer walks into the shop, the retail shops, and actually buy an Xplora watch, goes home, and activates the SIM card on a retail activation page. We pay no commissions for it.

While when we sell Doro Connect, which is an ordinary mobile subscription sold with an ordinary mobile phone, there is a clear expectations from the retailers that we pay them a commission for the activation process that they do in the stores. It's very often, most of the sales will be from customers who have had a SIM card for, of course, many, many years.

That means that they have to sell in the Doro Connect SIM card and do a conversion process from the existing provider, and that is an automated process which is in the backend of the point of sales system. Xplora smartwatches with SIM, the customer does it at home, while Doro Connect, the shop does it for the customer.

That is the main difference, and that's why we have to build this point of sales system.

Good. "Related to the cost synergy of 50, what is the timing of that synergy to happen?"

Knut?

It's one important item is that, as Sten said, we have been working closely with Doro now for a year, looking into the processes and see how we can do it. An example of where we can really benefit here is that now we have two logistical centers in the group: we have one in Czech and one in Poland.

Of course, we can improve by using one supplier on that topic. By timing, now is the time when we can start doing it.

We have also now reached 100% of the shares in Doro that actually happened on Monday, May 18, where we had a full 100% advanced access of all the shares in Doro. That's also why we are saying 12 to 18 months, we will give some time to do this process improvement in a proper way.

"Could you comment on the kids and youth segment? Do you see any structural headwinds in that segment?"

I can do that. I will say definitely, yes.

When we see the interest being invited to participate in debates, just being out there talking about this category in general, we normally gets a lot of request back from new market, from current market, from retailer new and old. The reasoning, I think, as a parent of four myself, there is such a huge demand for parent to actually get some guidelines, what should be the age group.

We see so many data point from doctors, from school teacher, that this is becoming a growing problem for 13 years old to spend 6, 7 hours a day on social media platform. I would say yes, there will be a lot of interest, and there will be a lot of tailwind in order to continue this growth.

There's a lot of interest, a clear yes. "Congrats on a strong Q1.

Gross profit senior came in a bit soft. How do you see this in the next coming quarter?"

Here we should say basically, no comments. You will see when the quarter is presented.

Yeah. I think that was all questions online.

Anyone live? Q's?

Actually the microphone started on the back. Then, no, just go ahead.

Shall I start? Just three questions from my.

The first one is the increase in the synergies from 30 to 50. Can you just give some concrete example of the 20 million increase in synergies, and secondly, if there's any costs to take them out?

Yeah.

Just to mention first, you can see there is a lot to do on the logistical part, where we can all the supply chain pieces, we are a bigger company, where we can have better deal with our suppliers. We move more with optimized freight, putting stuff together and deliver to channels.

That's a concrete example where we can see really huge benefits of being a one unit.

That is a concrete example on the extra 20 million?

That's a concrete example of parts of the extra 20. We saw initially that we saw 30 million, that should be fairly straightforward, and then the second part is that when we have investigated more, we can see that we can add another 20 million on top of that because we have more insight in the processes.

Perfect. Just secondly, you had very, very strong growth in Doro in 2025, among other, related to product launches, somewhat lower in the first quarter.

Is there anything in terms of sell-in, sell-out effects in those figures, just to understand the revenue growth trajectory in Doro?

It's a good question, and what we stated in Q4 is that Q4 was an exceptionally good quarter for our senior segment. We are still growing in Q1, and if you see the seasonal pattern in, well, old Doro, it was quite stable over the quarters.

Q1 was 7% increase year-over-year on the revenue side.

Anything to add on top of that, Tommy or Kjetil?

Perhaps just elaborate that last year we had in Doro launches of new products, of course with the sell-in of whole new range, while we also benefited from sell-out of old models, which we succeeded very well with on the Amazon channel specifically.

Next? I think it was down here.

Sigurd from Nordea. Could you elaborate a bit about the development in sell-in and sell-out in the kids or children and youth segment?

I would say it's a very seasonal. We have been operating this business now for many years, and we see that Q1 is normally the weakest quarter.

We had a significant increase compared to last year, but I think you should focus more on the sell-out figures or what I called activation figures, especially in Q1, because there is always a big impact from Q4. Q4 is typically 3 to 4 times bigger than Q1 on the kids and youth part of the business, and there may be some overlay from Q4 into Q1.

That was especially the case in 2025, where you see that we had a very low sales in that segment in Q1, while we doubled it in this year. You saw that the sell-out increased by 9,000 or 11%, I think it's better to look at the sell-out figure.

You see that there is a growth, but we activated much more phones this year than last year. We'd be a bit careful with drawing any conclusions from Q1 in the kids segment because of that reason.

Thanks. Also maybe on the premium feature in the senior segment, is it also applicable for already sold phones, or...

Correct. If we look into the premium services that we presented today, and when we take it to the market, that means also that existing smartphones that is available in the market, they will be able to download an upgraded services, and then together with a guardian, they will be able to activate the service.

Perfect, thanks.

All right. "Are we still exploring uplisting, and any new insight in that regard?"

As we announced in November is that we are tasked to investigate a possible uplisting or a change from Euronext Growth. We are, of course, doing all the necessary work to do the best possible decision for Xplora.

There is no specific timeline yet.

That's all the question that we arrived or had online. Any new from the audience?

If not, as always, we will be hanging around for a little bit while, and we have a lot of meetings today, hope to see you later today. Thank you so much.

Thank you very much.