Ladies and gentlemen, thank you for standing by. I would like to welcome you to the discussion on Text Q2 2026-2027 KPI conference call. The call today will be hosted by Marcin Droba and Łucja Kaseja from the Investor Relations Department. At the end of the presentation, we will have an opportunity to ask questions. Without further ado, I would now like to pass the line to Łucja. Please go ahead, ma'am. Good afternoon, everyone. As always, it is great to meet you and talk about the latest data and developments at the Text Group. As usual, we also ask you to take a moment to review the disclaimers related to this presentation. The full presentation, together with the recording and transcript, will, of course, be available on our website by the end of the day. Today, we will focus mainly on the numbers we published in Friday's current report. First and foremost, MRR and payments received in Q2 of financial year 2026-2027. Just to avoid any confusion, payments received are not equal revenue for the quarter. Before we go into the numbers, I would like to spend a few minutes talking about us, our products, and our customers. As some of you may remember, monetizing and converting online businesses has always been at the heart of LiveChat. This was really the original idea behind the product. Over time, of course, our customers discovered many other use cases where we could help them, and that is fantastic. This original use case has always remained very important to us, and today we are putting a lot of focus on it again. One reason is that technology now makes it possible to do much more in this area than ever before. Text is particularly powerful here. It brings together, in one place, key data from customer systems, their e-commerce platforms, multiple communication channels, and of course, the capabilities of AI. What we want to show is a couple of examples of our customers. A great example of what can be achieved with Text is Nuvoo, an e-commerce company from Finland. Nuvoo sells refurbished computers to customers and businesses in Finland, Sweden, and Germany. Customer service has always been very important to them. They have even received awards for it. In April this year, they came to us with a very specific problem. They wanted to maintain that high level of customer service outside their team's working hours. Initially, the AI agent in Text simply handled website traffic after hours. Once the team became more comfortable with the new tool, they started using campaigns and what we call custom skills, and that had a huge impact on sales generated through chat. In the example we are showing in front of you, just four months later, the AI agent is handling more than 7% of all chats. All end sales generated through the AI agent have grown more than five-fold. Harri, who is the manager responsible for the project, particularly appreciates the reporting capabilities behind our product. He can see exactly which chats led to sales and measure a wide range of other parameters. Last Thursday, we had an online meeting with Nuvoo for the entire Text team. We showed them some of the new capabilities and what will be soon available in Text. I have to say, we used to think that Finns are rather reserved nation, but this time they showed some very genuine enthusiasm. Probably we should not really quote them verbally here. Another example, we are very proud that we supported the organization of Winter Olympic Games with excellent results. You can read more about this in the testimonial on our website. We don't want to go into much detail here. What we want to show is the scale and prestige of the projects that can be supported with Text. There is also another important point. Text was selected by some of leading experts in this field. They told us that capabilities of our API are unique, and they are already thinking on how they can use them in future projects. I'd also like to share two more customer stories. Hopefully, we will be able to talk about both of them publicly very soon. For now, however, we are still waiting for formal marketing approval, but both stories have a happy ending. They also show some of the challenges we still need to address and why our numbers are not yet where we want them to be. The first story is about a customer from Australia. Initially, they told us that they are planning to leave LiveChat. The exact reason was price increase that they got. They also told us that they were looking for alternatives because they couldn't achieve everything they wanted with LiveChat due to some certain missing functionalities. Then we showed them Text. It turned out that Text not only was able to solve the problem they had, but also it could do much more. They were achieving exceptionally strong results with AI agent. Today, after moving from LiveChat to Text, this customer is paying several times more than before, including a significant usage-based component. They have signed a one-year contract and are very happy with the results. Remember, this whole conversation started because they thought our product was too expensive. This is a very good example of something we need to improve. We need to do a much better job of showing the value of Text to customers who simply don't have the time to explore the product themselves. The second story I want to tell you about is actually about a new customer. This one is particularly prestigious for us. You could say this is a customer, an industry expert, a technology company with a very good understanding of the market. They looked at several competing solutions. All of them were considered top-tier products, and they chose the one they thought was the best. Obviously, we wouldn't be telling you this story if it wasn't Text, and that makes us very happy, but it also highlights our biggest challenge. We believe we have one of the best, if not the best, products in our category, but we still don't have the level of visibility that this product deserves. With that, we can now move on to the numbers and look at what we achieved during the quarter which just has ended. Back in our quarterly report for Q1 in August, we said that MRR declined during the first two months of the quarter, but it still remained above the level from a year ago. September finally stopped that downward trend. We ended the month flat. Overall, MRR at the end of the quarter declined by 2.3%, while still growing by 3.3% over the year. This result is directly related to what I was talking about a moment ago. Our visibility is still not where we want it to be. As a result, customer acquisition remains weak, and this is the case despite the positive trend we've seen in customer churn over the last three months. Our customer churn rate fell clearly below 4%. This may partly reflect the changing structure of our customer base with more larger customers. It also reflects the fact that many customers have moved to annual contracts, something we talked about quite extensively three months ago on the call. While MRR was weaker than we had hoped, we had another strong month in terms of the payments received. We received $23,610,000 for a quarter. This means a growth of 6.2% year-on-year and a decline of 2.4% compared with the previous three months. Let's also remember that the previous quarter was a period when grandfathering ended for LiveChat customers, and many customers decided to move to annual contracts. Let's repeat this once again. Payments received are not equal to revenue. Just to put this into a context, after Q1, we had a record level of deferred revenue, customer liabilities resulting from contracts. That was PLN 77.2 million. That amount will flow into revenue over the coming quarters. Sorry for changing the slide. Another positive point I wanted to mention here is our API business. API revenue had another strong quarter and has now exceeded $450,000. This is almost double what it was just three months ago. It is becoming an increasingly important part of our business. That said, we shouldn't expect this growth to be perfectly linear. You can now see also Text on this chart. For now, its share is still very small, but we expect it to grow quickly. I'll come back to that at the end of the presentation. We are also seeing another positive trend that we really want to see. The share of customers with ARPL above $500 continues to increase. This quarter, they accounted for 56% of our total MRR. In this slide, we are still showing the share of customers paying for more than one of our products. Of course, as these customers migrate to Text, this particular way of looking at our business will eventually become less meaningful. For now, it's worth noting that the share increased by 5 percentage points year-over-year, reaching 40% at the end of September. That's it when it comes to the numbers, but let me briefly summarize the quarter and then we'll move to Q&A. Looking at the financials, MRR grew by 3.3% year-over-year, while declining 2.3% compared with the end of the previous quarter. Importantly, September ended flat. If we look at the actual cash coming into the business, it was another strong quarter. Payments received were up 6.2% year-over-year, and API revenue, which is calculated outside of MRR, almost doubled during the quarter. It was also a quarter of a lot of activity around customer acquisition. We can see the potential, but we still need to wait for the results to fully materialize. It is worth mentioning that during these three months alone, our products became available on marketplaces and platforms such as Google Cloud, AWS, and ChatGPT. It was also a very intensive quarter when it comes to product development. Amongst the new integrations, I would particularly mention Klaviyo, the world's largest SMS and email marketing platform. All in all, we released 63 new features and functionalities in Text. Many of them are very significant. That number shows how effectively our product and engineering teams worked during the quarter. Importantly, we are also working on something else, how to communicate the value of Text much better. I mentioned this challenge at the beginning of the presentation. The latest data shows that we have made significant progress here. We are happy with the improvement of lead to customer conversion for Text, and that encourages us to redirect more traffic from our other domains to text.com. This is an experiment, and obviously, it comes with some risks. But the conversion results we are seeing give us confidence to continue. The strong results our customers are achieving with Text are also encouraging us to accelerate the migration of customers from our other products to Text. In September, we moved virtually all starter plan customers from LiveChat to Text. From an MRR perspective, this is neutral. Their payments will only start being classified as Text from the following month. But this is just the beginning. The migration process is now accelerating significantly. That is the summary from us. Of course, we are happy to take the questions. As always, we encourage you to ask them in the best possible way, by texting. Thank you for listening. Thank you. Thank you very much for the presentation, Łucja. We will now be moving to the Q&A part of the call. Dear participants, if you wish to ask a question, please type them in the box provided. We will give a few seconds for any questions to come through. We acknowledge the questions that you have already typed. We will get to them very shortly. Okay. Our first text question comes from Marcin Nowak, IPOPEMA Securities. Following the observation about the visibility of the product, how do you want to achieve that? Would Text reconsider rehiring the sales team that was just laid off? What changes can improve this visibility? Thank you, Marcin, for the question. First of all, the fact that we are showing the cases is one of such things. We need success stories from our clients, and we are displaying them, showing the real examples and real numbers for our potential customers to have a look. This also got some attention from websites or from some sector news agencies. We got some PR around us as well. This is part of what we're trying to do, the whole change of the way Text website looks. This red color and very bold statements, and especially the fact that we emphasize that we want to put the product on the offense, on actually driving the sales for our customers. This is something that we're trying to achieve, to bring awareness of Text to customers. Let's add that as it was shown in the presentation, we added three huge marketplaces in Q2 alone. That's not saying that will change situation overnight. Contrary to that needs a lot of time. You need to build your credibility, your visibility on each marketplace. That's a lot of work was made during that quarter, even that single quarter. We need to wait for the effect, but a lot of work was done. About sales team, no, we're definitely not consider rehiring the sales team at the moment. Actually, that was something our CEO mentioned after AGM, at the last AGM, that it's not the first time, actually, he actually cut the sales team. He did it some 10+, looks like maybe 12, 13 years ago. That was good decision then, and we think that's the good decision again. But of course, in the future, who knows? Maybe we will repeat the story with them. Okay. Thank you. Thank you very much. Another question from Mr. Marcin Nowak. Do you have an estimate how the conversions to annual subscriptions have affected MRR? How much it reduced the quarter-on-quarter MRR dynamic? Well, first of all, you got the direction correctly. This is something, and we've talked about it last quarter. The increase that affected the legacy customers, for some of them, was somehow limited because they chose annual subscriptions instead of the monthly subscriptions they were previously on. Indeed, that made a reduction in the effect of grandfathering on MRR. All in all, the effect of this end of grandfathering on MRR that we wanted to have was slightly lower than it appeared to be. We are not giving the numbers, I'm afraid. Thank you. Thank you very much. Our next question comes from Mr. Darius Jackowski. Did the API payments grow to over $450,000 because customers are using the API more or because of one-off high usage from few customers? I would say definitely more customers are using API. As we mentioned already, even if you look at single months, if you look at the picture from month- to- month, the growth of that part of our business is definitely not linear. It's changed. There is sometimes a month when we see some decrease, then we are seeing huge jump. The usage is changing month- to- month, not only growing, but at the same time, even without that, especially bigger customers are buying some huge packages of API calls. Sometimes, yes, that's true. It's possible that some bigger customers will pay in the one month package of API calls, which will serve him for a few months. It can happen. It is happening. Thank you. Thank you very much. Another question from Darius. When customers start using AI features in Text, do they usually increase their usage over time, or does it stay at a similar level? It's a very valid question. We do not have that much data. We just have a limited number of customers who are long enough to make such comparisons. The one example I know exactly about the customer is that they did in fact increase the usage over time, seeing the results they're getting. That should probably be the answer for larger customers. Once they see the value, they are not afraid to invest more and pay more. But for smaller ones, I would say that does not necessarily be the case. But again, the statistics that we have are rather limited at this time. Thank you. Thank you very much. Before I move to the next question, just a reminder, if you would like to ask a question, please type it in the box provided. Our next question comes again from Marcin Nowak, IPOPEMA Securities. If I see correctly on page nine, payments from HelpDesk decreased significantly quarter-on-quarter in Q2 2026- 2027. Why is that? Annual payments— Go ahead. Yeah. The answer is simple. If there are some bigger contracts that are paid annually, then it's inflated, and that was the case in Q1 when we had bigger payments and also annual payments. So it is really dependent on when are the payments of, for example, larger clients throughout the year. Thank you. Thank you very much. Just a final reminder for the questions. If you would like to ask a Text question, please type it in the box provided and send it to us. I will just give a moment or so for any additional questions to come in. As usual, we have had more questions at Polish meeting, at Polish webinar. The transcript of that Polish webinar will be put online, maybe even in a few minutes. So you can check for that, obviously. Okay. Thank you, Marcin. I think at this point in time, we have no further questions to the audience, so I will now pass the line back to you for your closing remarks. Thank you for being here with us. We will put on all the materials from our calls online. If you have any questions, feel free to send such questions to us. Thank you very much. Thank you. Thank you very much. This concludes our call for today. We are now closing all the lines. Goodbye. Have a good day and good week. Thank you. Bye. Thank you.