Boule Diagnostics AB (BOUL) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.858 Good morning, everybody, and welcome to the fourth quarter's earnings call for Bull Diagnostics. 00:00:04.858 -- 00:00:07.362 I'm Holger Lembree, CFO for Bull Diagnostics. 00:00:07.362 -- 00:00:12.329 With me, I have our CEO, Torben Nielsen. And after our presentation, we will open up 00:00:12.329 -- 00:00:16.675 for questions. Please also feel free to write questions in the chat field. 00:00:16.675 -- 00:00:20.140 With that, I'm handing over to our CEO, Torben Nielsen. 00:00:20.140 -- 00:00:22.481 Thank you, Holger. 00:00:22.504 -- 00:00:25.087 Good morning, everybody. The 00:00:25.087 -- 00:00:27.976 fourth quarter brought a challenging market environment. 00:00:27.976 -- 00:00:33.361 with currency headwinds from a weakened US dollar and lower instrument sales in India 00:00:33.361 -- 00:00:37.986 as a direct consequence of our planned transition to a licensed manufacturing model in 00:00:37.986 -- 00:00:39.986 India. 00:00:40.068 -- 00:00:45.253 At the same time, our OEM sales continue to perform steadily, providing stability 00:00:45.253 -- 00:00:49.476 and demonstrating the resilience of this part of the business. 00:00:50.058 -- 00:00:55.163 While sales performance reflects these external factors, I'm pleased with the sequential 00:00:55.163 -- 00:00:58.013 operational improvements we've made. 00:00:58.013 -- 00:01:03.439 From a profitability and cash perspective, there were several positive developments. 00:01:03.439 -- 00:01:08.666 Rossmargin improved year on year, supported by a more favorable product and geographical 00:01:08.666 -- 00:01:13.812 mix. We also delivered our third consecutive quarter of positive operating cash 00:01:13.812 -- 00:01:19.098 flow, which reflects improved operational discipline and working capit...