The report for the third quarter of 2018 was in line with our expectations and showed no surprises. The core business had yet a stable quarter and net sales YTD (Q3’18) amounts to SEK 56.7, an increase of ~26 percent y/y. Freja eID continues to enter agreements/partnerships at a high rate, among others; with ATG and one of Sweden’s largest pharmacy. Following the report, we only make minor estimate changes with no effect on the valuation.