| (in millions of USD, except per-share data) | Q1 FY 26 | Q4 FY 25 | Q3 FY 25 | Q2 FY 25 | Q1 FY 25 | Q4 FY 24 | Q3 FY 24 | Q2 FY 24 | Q1 FY 24 | Q4 FY 23 | Q3 FY 23 | Q2 FY 23 | Q1 FY 23 | Q4 FY 22 | Q3 FY 22 | Q2 FY 22 | Q1 FY 22 | Q4 FY 21 | Q3 FY 21 | Q2 FY 21 | Q1 FY 21 | Q4 FY 20 | Q3 FY 20 | Q2 FY 20 | Q1 FY 20 | Q4 FY 19 | Q3 FY 19 | Q2 FY 19 | Q1 FY 19 | Q4 FY 18 | Q3 FY 18 | Q2 FY 18 | Q1 FY 18 | Q4 FY 17 | Q3 FY 17 | Q2 FY 17 | Q1 FY 17 | Q3 FY 16 | Q2 FY 16 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenues | |||||||||||||||||||||||||||||||||||||||
| Revenues | 24.2 | 24.8 | 25.1 | 25.9 | 28.3 | 23.4 | 26.3 | 27.0 | 25.4 | 26.0 | 24.0 | 22.1 | 20.6 | 21.0 | 18.8 | 20.0 | |||||||||||||||||||||||
| (in millions of USD, except per-share data) | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenues | ||||||||||||
| Revenues | 100.0 | 104.1 | 102.0 | 92.7 | 81.0 | 58.2 | 45.7 | 40.8 | 34.8 | 23.8 | 15.5 | 11.8 |
| Cost of Revenue | 48.7 | 47.5 | 44.1 | 40.0 | 34.2 | 25.6 | 18.8 | 16.4 | 15.5 | 12.2 | 9.5 | 8.3 |
| Gross Profit | 51.3 | 56.6 | 57.9 | 52.7 | 46.8 | 32.5 | 27.0 | 24.3 | 19.2 | 11.6 | 6.0 | 3.5 |
| Operating Expenses | ||||||||||||
| Research & Development | 16.2 | 15.9 | 13.9 | 12.1 | 10.0 | 7.0 | 5.6 | 5.3 | 5.0 | 4.2 | 4.1 | 3.4 |
| Selling General & Administrative | - | |||||||||||
| Operating Income | ||||||||||||
| Operating Income | (14.4) | (8.7) | (7.9) | (1.2) | 7.7 | (4.1) | 1.3 | 1.6 | (2.6) | (4.3) | (5.0) | (5.5) |
| Non-Operating | ||||||||||||
| Interest Income | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Expense | - | - | ||||||||||
| Tax & Net | ||||||||||||
| Income Tax Expense | 0.0 | 0.1 | 0.8 | 1.2 | 1.2 | 0.1 | (0.1) | (0.0) | (0.0) | 0.2 | - | - |
| Net Income From Continuing Ops | (14.9) | |||||||||||
| Per Share | ||||||||||||
| EPS Basic | (1.16) | (0.74) | (0.72) | (0.22) | 0.52 | (0.38) | 0.11 | 0.16 | (0.26) | (1.61) | - | - |
| EPS Diluted | (1.16) | (0.74) | ||||||||||
| Supplementary Data | ||||||||||||
| EBITDA | - | (2.7) | (1.6) | 5.5 | 14.1 | 1.7 | 6.7 | 6.5 | 1.3 | (1.2) | (2.4) | (3.3) |
| EBIT | (14.4) | (8.7) | ||||||||||
| 21.2 |
| 14.0 |
| 14.5 |
| 14.6 |
| 15.0 |
| 12.6 |
| 11.4 |
| 11.3 |
| 10.5 |
| 10.9 |
| 10.0 |
| 10.3 |
| 9.6 |
| 9.7 |
| 9.2 |
| 8.9 |
| 6.9 |
| 6.5 |
| 6.8 |
| 5.8 |
| 4.6 |
| 4.0 |
| 3.9 |
| Cost of Revenue | 12.9 | 12.2 | 11.5 | 12.1 | 11.8 | 11.7 | 11.0 | 10.9 | 10.5 | 11.0 | 10.2 | 9.4 | 9.3 | 9.1 | 8.5 | 8.4 | 8.3 | 6.5 | 6.5 | 6.3 | 6.3 | 5.2 | 4.9 | 4.4 | 4.3 | 4.1 | 4.0 | 4.3 | 4.0 | 4.1 | 4.2 | 4.0 | 3.3 | 3.3 | 3.5 | 2.7 | 2.7 | 2.4 | 2.4 |
| Gross Profit | 11.3 | 12.6 | 13.6 | 13.8 | 16.6 | 11.7 | 15.2 | 16.1 | 14.9 | 15.0 | 13.8 | 12.7 | 11.3 | 11.9 | 10.3 | 11.6 | 12.9 | 7.5 | 8.0 | 8.3 | 8.7 | 7.5 | 6.4 | 6.9 | 6.1 | 6.8 | 6.0 | 6.0 | 5.6 | 5.6 | 5.0 | 5.0 | 3.6 | 3.2 | 3.4 | 3.1 | 1.9 | 1.6 | 1.5 |
| Operating Expenses | |||||||||||||||||||||||||||||||||||||||
| Research & Development | 4.4 | 4.0 | 4.1 | 3.7 | 4.1 | 3.5 | 3.4 | 3.5 | 3.6 | 3.2 | 3.2 | 3.1 | 2.7 | 2.5 | 2.4 | 2.5 | 2.6 | 1.9 | 1.7 | 1.7 | 1.7 | 1.5 | 1.4 | 1.4 | 1.4 | 1.3 | 1.4 | 1.4 | 1.3 | 1.3 | 1.2 | 1.3 | 1.2 | 1.1 | 1.1 | 0.9 | 1.0 | 1.0 | 1.0 |
| Selling General & Administrative | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||||
| Selling & Marketing | 6.5 | 6.5 | 5.8 | 6.5 | 7.3 | 6.5 | 7.2 | 7.3 | 7.1 | 7.4 | 6.3 | 7.4 | 5.8 | 5.7 | 5.4 | 5.8 | 5.6 | ||||||||||||||||||||||
| General & Administrative | 6.7 | 4.5 | 5.8 | 6.5 | 6.5 | 5.5 | 5.7 | 5.9 | 6.8 | 4.8 | 5.7 | 5.5 | 4.6 | 4.0 | 3.9 | 3.6 | 4.3 | ||||||||||||||||||||||
| Depreciation & Amortization | 1.4 | - | - | - | 1.5 | - | - | - | 1.6 | - | - | - | 1.8 | - | - | - | |||||||||||||||||||||||
| Amortization of Intangibles | 1.0 | - | 1.0 | - | 1.0 | 0.9 | 1.0 | 1.0 | 1.0 | 1.0 | 0.8 | 1.5 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | ||||||||||||||||||||||
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||
| Total Operating Expenses | 18.1 | 15.1 | 15.7 | 16.7 | 17.8 | 15.9 | 16.3 | 16.1 | 17.5 | 10.6 | 15.2 | 15.0 | 13.1 | 11.9 | 6.2 | 8.4 | |||||||||||||||||||||||
| Operating Income | |||||||||||||||||||||||||||||||||||||||
| Operating Income | (6.9) | (2.5) | (2.1) | (2.9) | (1.2) | (4.2) | (1.0) | (0.0) | (2.6) | 4.4 | (1.5) | (2.4) | (1.8) | 0.0 | 4.1 | 3.2 | 0.4 | (3.2) | (0.9) | (0.2) | 0.2 | (0.2) | 0.6 | 0.9 | (0.0) | 1.2 | 0.4 | 0.3 | (0.3) | 0.5 | (1.5) | (0.3) | (1.2) | (2.3) | (0.8) | (0.1) | (1.2) | (1.1) | (1.4) |
| Non-Operating | |||||||||||||||||||||||||||||||||||||||
| Interest Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||
| Income From Equity Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||
| Other Non-Operating Income | (0.1) | (0.2) | (0.1) | (0.1) | (0.2) | 0.2 | (0.1) | (0.5) | (0.2) | (0.2) | (0.1) | (0.0) | 0.0 | 0.1 | (0.0) | (0.2) | (0.0) | ||||||||||||||||||||||
| Pre-Tax Income | (7.0) | (2.7) | (2.2) | (3.0) | (1.4) | (4.0) | (1.1) | (0.5) | (2.8) | 4.2 | (1.6) | (2.4) | (1.8) | 0.1 | 4.0 | 3.0 | |||||||||||||||||||||||
| Tax & Net | |||||||||||||||||||||||||||||||||||||||
| Income Tax Expense | 0.0 | 0.1 | (0.2) | 0.1 | 0.1 | 0.1 | 0.3 | 0.2 | 0.1 | - | 0.3 | 0.3 | - | - | - | - | - | - | - | - | 0.0 | (0.1) | 0.0 | (0.0) | (0.0) | (0.1) | (0.0) | 0.0 | 0.0 | 0.0 | (0.1) | 0.0 | 0.0 | - | - | - | - | - | - |
| Net Income From Continuing Ops | (7.0) | (2.8) | (2.0) | (3.1) | (1.5) | (4.1) | (1.4) | (0.8) | (2.9) | 3.6 | (1.9) | (2.7) | (1.8) | (1.0) | 4.0 | 3.0 | 0.4 | ||||||||||||||||||||||
| Net Income From Discontinued Ops | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||
| Net Income | (7.0) | (2.8) | (2.0) | (3.1) | (1.5) | (4.1) | (1.4) | (0.8) | (2.9) | 3.6 | (1.9) | (2.7) | (1.8) | (1.0) | 4.0 | 3.0 | 0.4 | ||||||||||||||||||||||
| Net Income Attributable To Parent | (7.0) | (2.8) | (2.0) | (3.1) | (1.5) | (4.1) | (1.4) | (0.8) | (2.9) | 3.6 | (1.9) | (2.7) | (1.8) | (1.0) | 4.0 | 3.0 | |||||||||||||||||||||||
| Less: Minority Interest | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |||||||||||||||||||||
| Less: Preferred Dividends | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||
| Net Income To Common Shareholders | (7.0) | (2.8) | (2.0) | (3.1) | (1.5) | (4.1) | (1.4) | (0.8) | (2.9) | 3.6 | (1.9) | (2.7) | (1.8) | (1.0) | 4.0 | ||||||||||||||||||||||||
| Per Share | |||||||||||||||||||||||||||||||||||||||
| EPS Basic | (0.54) | - | (0.16) | (0.24) | (0.12) | - | (0.11) | (0.06) | (0.23) | - | (0.15) | (0.22) | (0.15) | - | 0.33 | 0.25 | 0.03 | - | (0.08) | (0.02) | 0.01 | - | 0.05 | 0.08 | 0.00 | - | 0.04 | 0.03 | (0.03) | - | (0.13) | (0.03) | - | - | - | - | - | - | - |
| EPS Diluted | (0.54) | - | (0.16) | (0.24) | (0.12) | - | (0.11) | (0.06) | (0.23) | - | (0.15) | (0.22) | (0.15) | - | 0.33 | 0.24 | 0.03 | - | |||||||||||||||||||||
| Shares Basic | 12.9 | - | 12.8 | 12.7 | 12.6 | - | 12.7 | 12.8 | 12.8 | - | 12.5 | 12.2 | 12.3 | - | 12.2 | 12.1 | 12.2 | - | |||||||||||||||||||||
| Shares Diluted | 12.9 | - | 12.8 | 12.7 | 12.6 | - | 12.7 | 12.8 | 12.8 | - | 12.5 | 12.2 | 12.3 | - | 12.4 | 12.3 | 12.3 | - | |||||||||||||||||||||
| Supplementary Data | |||||||||||||||||||||||||||||||||||||||
| EBITDA | (5.4) | - | - | - | 0.3 | - | - | - | (1.0) | - | - | - | (0.0) | - | - | - | 1.9 | - | - | - | 1.6 | - | - | - | 1.3 | - | - | - | 0.9 | - | - | - | (0.4) | - | - | - | (0.5) | - | - |
| EBIT | (6.9) | (2.5) | (2.1) | (2.9) | (1.2) | (4.2) | (1.0) | (0.0) | (2.6) | 4.4 | (1.5) | (2.4) | (1.8) | 0.0 | 4.1 | 3.2 | 0.4 | (3.2) | (0.9) | ||||||||||||||||||||
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| Selling & Marketing | 25.3 | 26.1 | 28.1 | 27.0 | 22.4 | 15.5 | 10.3 | 10.0 | 8.4 | 6.2 | 4.5 | 3.8 |
| General & Administrative | 23.4 | 23.2 | 23.9 | 20.6 | 15.8 | 12.7 | 9.7 | 7.4 | 8.4 | 5.6 | 2.4 | 1.8 |
| Depreciation & Amortization | - | 6.0 | 6.2 | 6.7 | 6.4 | 5.8 | 5.4 | 4.9 | 3.9 | 3.1 | 2.6 | 2.3 |
| Amortization of Intangibles | - | 3.9 | 3.9 | 3.9 | 2.8 | 1.0 | 0.2 | 0.1 | 0.1 | 0.0 | 0.0 | 0.1 |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | 65.7 | 65.4 | 65.7 | 54.0 | 39.0 | 36.6 | 25.7 | 22.7 | 21.8 | 15.9 | 10.9 | 9.0 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| 1.1 |
| 1.2 |
| - |
| Income From Equity Investments | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Operating Income | (0.5) | (0.6) | (0.5) | (0.3) | (0.2) | (0.3) | (0.2) | 0.2 | (0.2) | (5.5) | (1.9) | (0.7) |
| Pre-Tax Income | (14.9) | (9.3) | (8.4) | (1.5) | 7.6 | (4.4) | 1.1 | 1.8 | (2.7) | (9.8) | (6.9) | (6.2) |
| (9.4) |
| (9.2) |
| (2.7) |
| 6.4 |
| (4.4) |
| 1.2 |
| 1.8 |
| (2.7) |
| (10.0) |
| (6.9) |
| (6.2) |
| Net Income From Discontinued Ops | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Income | (14.9) | (9.4) | (9.2) | (2.7) | 6.4 | (4.4) | 1.2 | 1.8 | (2.7) | (10.0) | (6.9) | (6.2) |
| Net Income Attributable To Parent | (14.9) | (9.4) | (9.2) | (2.7) | 6.4 | (4.4) | 1.2 | 1.8 | (2.7) | (10.0) | (6.9) | (6.2) |
| Less: Minority Interest | - | - | - | - | - | - | - | - | - | - | - | - |
| Less: Preferred Dividends | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Income To Common Shareholders | (14.9) | (9.4) | (9.2) | (2.7) | 6.4 | (4.4) | 1.2 | 1.8 | (2.7) | (10.0) | (6.9) | (6.2) |
| (0.72) |
| (0.22) |
| 0.52 |
| (0.38) |
| 0.10 |
| 0.15 |
| (0.26) |
| (1.61) |
| - |
| - |
| Shares Basic | 12.9 | 12.7 | 12.7 | 12.4 | 12.2 | 11.6 | 11.4 | 11.3 | 10.6 | 6.2 | - | - |
| Shares Diluted | 12.9 | 12.7 | 12.7 | 12.4 | 12.3 | 11.6 | 11.7 | 11.8 | 10.6 | 6.2 | - | - |
| (7.9) |
| (1.2) |
| 7.7 |
| (4.1) |
| 1.3 |
| 1.6 |
| (2.6) |
| (4.3) |
| (5.0) |
| (5.5) |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| 3.6 |
| 4.0 |
| 3.9 |
| 3.9 |
| 3.1 |
| 2.4 |
| 2.3 |
| 2.5 |
| 2.5 |
| 2.4 |
| 2.4 |
| 2.6 |
| 2.2 |
| 2.5 |
| 2.2 |
| 1.6 |
| 1.9 |
| 1.8 |
| 1.4 |
| 1.1 |
| 1.1 |
| 1.3 |
| 3.8 |
| 3.2 |
| 2.8 |
| 2.9 |
| 3.1 |
| 2.0 |
| 2.3 |
| 2.3 |
| 1.7 |
| 1.8 |
| 1.9 |
| 2.0 |
| 1.7 |
| 2.9 |
| 1.8 |
| 2.0 |
| 2.4 |
| 1.3 |
| 1.0 |
| 0.9 |
| 0.6 |
| 0.6 |
| 1.5 |
| - |
| - |
| - |
| 1.4 |
| - |
| - |
| - |
| 1.3 |
| - |
| - |
| - |
| 1.2 |
| - |
| - |
| - |
| 0.8 |
| - |
| - |
| - |
| 0.7 |
| - |
| - |
| 0.2 |
| 0.3 |
| 0.3 |
| 0.3 |
| 0.1 |
| 0.0 |
| 0.0 |
| 0.0 |
| - |
| - |
| - |
| 0.0 |
| - |
| - |
| - |
| - |
| - |
| 0.0 |
| 0.0 |
| - |
| 0.0 |
| 0.0 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| 12.5 |
| 10.7 |
| 8.9 |
| 8.5 |
| 8.5 |
| 7.7 |
| 5.8 |
| 6.0 |
| 6.1 |
| 5.6 |
| 5.6 |
| 5.7 |
| 5.9 |
| 5.1 |
| 6.6 |
| 5.3 |
| 4.8 |
| 5.4 |
| 4.2 |
| 3.3 |
| 3.1 |
| 2.7 |
| 2.9 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| 0.4 |
| 0.4 |
| - |
| 0.3 |
| 0.2 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| (0.2) |
| (0.0) |
| (0.1) |
| (0.0) |
| (0.1) |
| (0.1) |
| (0.1) |
| 0.0 |
| 0.0 |
| 0.1 |
| 0.1 |
| (0.0) |
| (0.1) |
| 0.0 |
| (0.1) |
| 0.0 |
| (0.1) |
| (0.8) |
| (4.2) |
| (0.4) |
| (0.4) |
| (0.9) |
| 0.4 |
| (3.3) |
| (0.9) |
| (0.3) |
| 0.1 |
| (0.3) |
| 0.6 |
| 0.9 |
| 0.0 |
| 1.3 |
| 0.4 |
| 0.4 |
| (0.3) |
| 0.3 |
| (1.5) |
| (0.4) |
| (1.2) |
| (2.3) |
| (1.6) |
| (4.3) |
| (1.6) |
| - |
| - |
| (3.3) |
| (0.9) |
| (0.3) |
| 0.1 |
| (0.2) |
| 0.6 |
| 0.9 |
| 0.0 |
| 1.3 |
| 0.4 |
| 0.4 |
| (0.4) |
| 0.3 |
| (1.4) |
| (0.4) |
| (1.2) |
| (2.5) |
| (1.6) |
| (4.3) |
| (1.6) |
| (1.5) |
| (2.3) |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| (3.3) |
| (0.9) |
| (0.3) |
| 0.1 |
| (0.2) |
| 0.6 |
| 0.9 |
| 0.0 |
| 1.3 |
| 0.4 |
| 0.4 |
| (0.4) |
| 0.3 |
| (1.4) |
| (0.4) |
| (1.2) |
| (2.5) |
| (1.6) |
| (4.3) |
| (1.6) |
| (1.5) |
| (2.3) |
| 0.4 |
| (3.3) |
| (0.9) |
| (0.3) |
| 0.1 |
| (0.2) |
| 0.6 |
| 0.9 |
| 0.0 |
| 1.3 |
| 0.4 |
| 0.4 |
| (0.4) |
| 0.3 |
| (1.4) |
| (0.4) |
| (1.2) |
| (2.5) |
| (1.6) |
| (4.3) |
| (1.6) |
| (1.5) |
| (2.3) |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| 3.0 |
| 0.4 |
| (3.3) |
| (0.9) |
| (0.3) |
| 0.1 |
| (0.2) |
| 0.6 |
| 0.9 |
| 0.0 |
| 1.3 |
| 0.4 |
| 0.4 |
| (0.4) |
| 0.3 |
| (1.4) |
| (0.4) |
| (1.2) |
| (2.5) |
| (1.6) |
| (4.3) |
| (1.6) |
| (1.5) |
| (2.3) |
| (0.08) |
| (0.02) |
| 0.01 |
| - |
| 0.05 |
| 0.07 |
| 0.00 |
| - |
| 0.04 |
| 0.03 |
| (0.03) |
| - |
| (0.13) |
| (0.03) |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| 11.7 |
| 11.6 |
| 11.6 |
| - |
| 11.4 |
| 11.4 |
| 11.3 |
| - |
| 11.4 |
| 11.4 |
| 11.0 |
| - |
| 10.8 |
| 10.6 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| 11.7 |
| 11.6 |
| 11.9 |
| - |
| 11.7 |
| 11.7 |
| 11.7 |
| - |
| 11.9 |
| 12.0 |
| 11.0 |
| - |
| 10.8 |
| 10.6 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| (0.2) |
| 0.2 |
| (0.2) |
| 0.6 |
| 0.9 |
| (0.0) |
| 1.2 |
| 0.4 |
| 0.3 |
| (0.3) |
| 0.5 |
| (1.5) |
| (0.3) |
| (1.2) |
| (2.3) |
| (0.8) |
| (0.1) |
| (1.2) |
| (1.1) |
| (1.4) |