Gavin Wheeldon

Although we do have a sales force that's out actively looking for end users, but then when they find them, they bring them back through one of our channel partners.

Typically, a telco, it's buy, build, or partner.

It's the same with the equipment.

They could easily go out and build a Wi-Fi access point.

They don't because there's somebody like Cisco or Ruckus or Xeris that have spent millions in developing the best.

That's the point that we're at.

I think also with telcos, once you've got one- You mean the best access point?

So they could build their own access points.

It's not difficult.

Here's a parts list.

Mr. China company, go and build me 1,000 of these.

You don't do that because there's a lot of proprietary IP that Cisco or Ruckus or other have built around what that access point does.

And it's the same with our platform.

To actually build it for a single telco,

Not only would it take years, it would be a huge investment.

So, you know, it's more sensible in that scenario to partner.

And the fact that we have, you know, we've got half of the biggest service providers in the world, telcos, all basing their go to market around our platform.

So they're typically building a managed service.

So they'll build, you know, here's the equipment, here's the connectivity, here's the service desk, and here's this really clever layer that sits over it all and brings you the real value, the business value.

And they'll build that into a product and give it a name, and they'll take that out to their business customers and say, hey, Mr. Customer, here's a complete managed solution for your Wi-Fi, and it delivers all of these benefits.