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From a cost perspective, our hardware designs are more expensive because they are highly integrated (6 to 8 layer PCBs, blind and buried vias, dense component packing, etc) and carry certifications from the FCC and CE, among others. This saves you an expensive certification process when you scale your product, enabling you to get to market faster. Our core products are our cellular modules, as the certification burden on them far outweighs the process for WiFi modules (PTCRB, carrier certs). While we definitely have customers that use our WiFi products in a production capacity, generally our customers use our WiFi portfolio to prototype in their offices and then migrate to a cellular module for their end product. Saves cost and complexity when you just want to get something working, and our DeviceOS allows you to use the same or similar publish APIs regardless of the underlying connectivity technology. When you purchase one of our modules, you are buying into a proven and tested platform that is guaranteed to work with our cloud. You just need to make your hardware and set up your backend. We handle the rest. Additionally, we don't make a lot of margin on our hardware - it's not the business we are in. In terms of processing power, we target applications that don't need to crunch numbers. A great way to describe our platform is a "pipe" that takes your data from some sensor out in a field and drops it in your cloud backend/database. Our best applications are ones in which someone needs to answer "where is my device?" or "how is my device functioning?". In these verticals, it's all about data transmission rather than processing. Often these devices are battery powered and geographically hard to access. They spend a lot of time asleep, and when awake want to consume as little energy as possible. The IoT landscape is vast, and we have narrowed in on a set of solutions that work well with specific verticals. Our product isn't a fit for every situation, as you have pointed out. For the ones it does fit for, we can provide significant value as a platform. |