The Q4 report was largely in-line with our estimates, with positive deviations on the result level. The growth during the quarter was weak, compared to historical levels; however this was something we had accounted for because of to the platform change during the period. We expect to see an increase in marketing activity during the coming quarters, leading to a restoration of the growth path. The marketing has been on halt during H2, leading to the slower growth rates. We reiterate our Fair value estimate, in Base-case, of 61 SEK per share. On an adjusted basis, Mr Green looks deeply undervalued compared to peers. The high degree of insider activity, since the beginning of the year, increases our confidence in our valuation assessment and we see a significant potential from today's share price levels.