Camurus AB (CAMX) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.436 Welcome to Camuro's Q1 Report 2026. During the questions and answer 00:00:05.436 -- 00:00:09.780 session, telco participants are able to ask questions by dialing pound key five on the 00:00:09.780 -- 00:00:14.284 telephone keypad. Now I will hand the conference over to CEO Fredrik Thibard. 00:00:14.284 -- 00:00:16.706 Please go ahead. 00:00:16.706 -- 00:00:22.071 Thank you so much, Einar. Good day, everyone, and welcome to our first 00:00:22.071 -- 00:00:24.972 earnings call in 2026. 00:00:26.195 -- 00:00:30.577 Please note first our forward-looking statements. 00:00:31.874 -- 00:00:36.139 Here is the agenda for today. I'll start with the highlights. 00:00:36.139 -- 00:00:38.903 Anders will cover the financials, 00:00:38.903 -- 00:00:44.129 Richard the commercial update, and I'll return with a pipeline update and key 00:00:44.129 -- 00:00:48.252 takeaways before moving to Q&A. 00:00:50.597 -- 00:00:54.382 Starting with a few words on the quarter. As 00:00:54.382 -- 00:00:59.549 we stated in the report released earlier today, Q1 was on track with our 00:00:59.549 -- 00:01:04.999 full year guidance. Revenues recovered following the UK distribution 00:01:04.999 -- 00:01:10.324 model change, and we made continued progress across our commercial programmes and development 00:01:10.324 -- 00:01:12.086 pipeline. 00:01:12.086 -- 00:01:16.128 Financially, total revenues were 533 00:01:16.831 -- 00:01:22.056 million SEK, a 15% increase versus previous quarter, 00:01:22.056 -- 00:01:27.262 but a 5% decline year on year, driven by FX and channel facing 00:01:27.262 -- 00:01:29.322 in 2025. 00:01:29.485 -- 00:01:34.534 We maintained strong profitability with a 32% operating margin and 00:01:34.534 -- 00:01:38.962 ended the quarter with 3.9 billi...