MIPS AB (publ) (MIPS) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.036 Good morning, everyone. My name is Max Strambits and I am the 00:00:05.036 -- 00:00:11.022 CEO of MIPS. With me today, we also have our CFO, 00:00:11.022 -- 00:00:16.548 Karin Rosenthal, and we will take you through the interim 00:00:16.548 -- 00:00:22.113 report of the first quarter. So if we look at the key highlights 00:00:22.113 -- 00:00:27.301 of the quarter Q1, it was a strong start of the year. 00:00:27.301 -- 00:00:32.411 30% growth in the first quarter if we adjust for 00:00:32.411 -- 00:00:37.861 acquisition and impact of Forex. We did deliver an organic 00:00:37.861 -- 00:00:41.087 growth of 25%. We 00:00:41.087 -- 00:00:46.116 did see growth in all our three categories and all of the key 00:00:46.116 -- 00:00:51.905 regions. We did acquire the Koroid business 00:00:51.905 -- 00:00:57.011 in December last year, and that has been well received in the market 00:00:57.011 -- 00:01:00.875 with a lot of interest for their products. 00:01:00.875 -- 00:01:05.861 The sales development at MIPS has a very scalable business model. 00:01:05.861 -- 00:01:11.147 We see with the strong growth that we see, we also 00:01:11.147 -- 00:01:15.968 had a good improvement of the profitability. 00:01:15.968 -- 00:01:21.638 And if we look at our adjusted EBIT in the quarter, even though 00:01:21.638 -- 00:01:25.022 Historically, Q1 is the smallest quarter of the year. 00:01:25.022 -- 00:01:30.508 It's one of the best Q1s that we ever had, and we actually managed to deliver 00:01:30.508 -- 00:01:32.608 a 33% 00:01:32.991 -- 00:01:38.317 adjusted EBIT margin in the quarter, which also means that 00:01:38.317 -- 00:01:41.541 our EBIT increased with 50% 00:01:41.541 -- 00:01:46.546 versus prior year. We continue to see some impact by legal 00:01:46....