Boule Diagnostics AB (BOUL) Q3 2025 Earnings Call

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WEBVTT 00:00:00.183 -- 00:00:05.388 Good morning, everybody, and welcome to the third quarter's earnings call for Bull Diagnostics. 00:00:05.388 -- 00:00:11.415 I'm Holger Lambert, CFO for Bull Diagnostics, and with me, I have our CEO, Torben Nilsson. 00:00:11.415 -- 00:00:14.959 After the presentation, we will open up for questions. 00:00:14.959 -- 00:00:18.482 Please also feel free to ask questions in the chat field. 00:00:18.482 -- 00:00:22.426 With that, I'm handing over to our CEO, Torben Nilsson. 00:00:22.426 -- 00:00:24.747 Thank you, Holger. 00:00:25.189 -- 00:00:29.717 In the third quarter, we return to organic growth in a market that continues to face 00:00:29.717 -- 00:00:32.298 structural challenges. 00:00:32.341 -- 00:00:36.727 Although we still suffer from currency headwinds, we're starting to see early signs of 00:00:36.727 -- 00:00:41.734 stabilization with slightly more balanced pricing of instruments and improved 00:00:41.734 -- 00:00:47.719 demand in our key markets as government tender processes resume. 00:00:48.182 -- 00:00:52.688 Our instrument sales were strong as we continue our focus on strengthening our installed 00:00:52.688 -- 00:00:54.571 base. 00:00:54.571 -- 00:01:00.656 Reagent sales continue to suffer from unfavorable FX and delayed payments. 00:01:00.656 -- 00:01:05.999 We expect to see sales stabilizing as distributor inventories deplete. 00:01:06.602 -- 00:01:11.366 OEM sales was flat when adjusting for currency, and we maintain a positive outlook for 00:01:11.366 -- 00:01:13.466 the year. 00:01:13.888 -- 00:01:18.672 Despite high instrument sales, margin improved from last quarter, and we delivered positive 00:01:18.672 -- 00:01:22.876 operating cash flow for the second consecutive quarter. 00:01:22.876 -- 00:01:28.290 And finally...