High Gross Margins & Software MixSustained ~82% gross margins and a shift toward software products create a durable profitability cushion: software has higher incremental margins and lower variable hardware costs, enabling scalable gross profit growth as OEM adoption rises and reducing sensitivity to component supply or unit-volume swings.
Large Installed Base And Network EffectsA ~7 million device installed base and broad training footprint build strong network effects: wide OEM adoption and entrenched endpoints raise switching costs for customers, support recurring licensing and software uptake, and help sustain long-term demand even through cyclical AV project timing.
Strong Balance Sheet With Minimal LeverageVery low leverage and substantial cash headroom provide strategic optionality: the balance sheet supports continued platform investment (including acquisitions and R&D), buffers the company through demand cycles, and reduces refinancing risk while management executes longer-term product and go-to-market plans.