As you said, rightly, we are continuously investing in our growth strategy. It means travel, new employees, building new platforms, so forth.

Feb 12, 2026 / CFO / receipt, needs a key / Sardar Abu-Babkar, CFO | earnings call 2026-02-12 | transcript 02cb34d7-981b-486d-8ccc-a91d17e7d858 | chars 13679-13820 | segment 13

The increase primarily reflected increased salaries and travel costs, even though the margin has improved.

Feb 12, 2026 / CFO / receipt, needs a key / Sardar Abu-Babkar, CFO | earnings call 2026-02-12 | transcript 02cb34d7-981b-486d-8ccc-a91d17e7d858 | chars 8456-8562 | segment 8