Sleep Cycle AB (publ) (SLEEP) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi everyone and welcome. Today we're sharing the interim report for quarter one. My name is Erik Gilmark. I'm the CEO at SleepCycle and with me I have Elisabeth Hedman, our CFO and Head of Investor Relations. We are Sleep Cycle. We are the world's leading sleep technology company. We have a mission to improve global health by helping people to take control of their sleep. We are used and loved by millions and available in more than 150 markets, in app stores, and as part of many wearables. At the core, Our app help people build healthy sleep habits, something that is more needed than ever. What set us apart is that we're not just the world's largest sleep app, we have a proprietary technology platform as well. Everything we do from sleep tracking and smart alarms to audio features like sleep aids, snore detection, and sleep talking recording helps users understand and improve their sleep. And it's all built on proprietary audio and sleep science technology, engaging and powered by science. There's a lot of uncertainty in the world right now, and the macroeconomic pressure is impacting markets across the board. During Q1, we saw a continued downward trend among many of our peers in terms of downloads. This isn't new. We already saw signs of this in Q4 as shared at our year-end call. And while we're still growing our subscriber base year over year, which shows our relevance and resilience, we are also impacted. The slowdown has also continued into April. Now, despite the drop in downloads, which is affecting the entire industry, and as I said, many of our competitors are down much more, there are some bright spots. Our brand has a strong presence and what I often said before, a true market fit. And we see that our conversion rates and annual renewal rates are steady. T...