Bactiguard Holding AB (publ) (BACTI_B) Q4 2025 Earnings Call

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WEBVTT 00:00:01.516 -- 00:00:06.324 Thank you, Operator, and welcome to the presentation of Back to Guard's fourth quarter 00:00:06.324 -- 00:00:11.492 as well as the full year 2025. Our CFO, Patrick Buck, and I will go through 00:00:11.492 -- 00:00:16.717 the presentation together, and at the end, there will be time for your questions. 00:00:18.464 -- 00:00:23.492 Let's start with some high-level comments on the quarter and summarize 2025. 00:00:23.492 -- 00:00:28.516 Patrick will go into more details on the financials later in the presentation. 00:00:28.516 -- 00:00:32.202 we closed the year with a great Q4. 00:00:32.202 -- 00:00:38.391 Total revenues increased by more than 4% when excluding the negative effect of currency. 00:00:38.391 -- 00:00:43.159 Given our substantial US dollar exposure within the licensed business, the weaker dollar 00:00:43.159 -- 00:00:47.065 does continue to impact our revenues negatively. 00:00:47.065 -- 00:00:51.893 The main driver for both the fourth quarter and full year on revenues and EBITDA was 00:00:51.893 -- 00:00:55.820 the updated agreement with Zimmer Biomet in December. 00:00:55.820 -- 00:01:00.507 I will come back to how this new agreement reflects the solidified collaboration between 00:01:00.507 -- 00:01:04.072 Back2Guard and Zimmer Biomet a bit later. 00:01:04.072 -- 00:01:09.059 The strong finish resulted in stable license revenue for the full year, again, excluding 00:01:09.059 -- 00:01:14.587 the currency impact. We achieved this despite the fact that the 2024 comparison 00:01:14.587 -- 00:01:19.478 year included exclusivity revenues from the now terminated agreement. 00:01:19.478 -- 00:01:24.625 Total revenue decreased in 2025, but thanks to our new cost base and continued 00:01:24.625 -- 00:01:29.969 cost discipline,...