POV: Ryan Thomas, Chief Operating Officer

When you're a new customer or you' have a new product, you're trying to be a disruptor in the market, there's not just cost competitiveness and like what's your software as a service, but there's also what is the board doing that's going to bring a new technology to it. It's going to innovate in that space.

Probably the biggest shortcut is when you're revving a design, you'll rev it on top of the existing architecture because it's a cheaper and a more cost effective and it slows or shortens the development timeline. But what it limits you is on innovation. And you may have the same problem where the parts, some of them are obsolete now. And you may have a problem where actually the customers don't want it because it's not innovative enough in that space.

In the connected market, there's new companies that pop up every day, private equity, big corporations that go, "I'm sick of buying a solution. I want to make my own." And they're spending a lot of money in innovation. So you as a small company or a mid-sized company, if you're not really leaning into how you have a competitive advantage, you're just going to lose in that space.

So they'll come to us. We'll dig into it. We'll do a DFM. We'll look at the technology stack. And there's two outcomes.

One could be, this is too far. You should use Morey's tech stack and innovate off of that and just use our product offering. We could white label it. We can customize some of the software features.

Or they'll use our engineering team to help innovate what they have or completely redesign what the board is. And we've seen that with really what we call like a napkin-to-order customer. It's like, "I just have this idea and here's the technology I used in the past, but how do I go to the next level to really disrupt the market?"