Greetings, valued partners and clients. As the Chief Financial Officer at Devolutions, I want to address a topic that's likely weighing on many of your minds: financial stability. In today's unpredictable landscape, it's essential to collaborate with companies capable of navigating challenges and emerging stronger. I'm proud to say that Devolutions stands among these resilient organizations.
My empathy extends to the numerous struggling companies within our industry. We share this journey, and therefore ought to offer mutual support. To that end, I'd like to highlight the unique attributes that enable Devolutions to thrive during adversity.
One of the things that set us apart is our dedication to cautious and deliberate investments, ensuring we maintain positive cash flow. Our CEO and majority shareholder, David Hervieux, has always championed constructing a financially robust company without reliance on excessive burn rates or debt. This strategy has empowered us to overcome economic downturns and various obstacles, and ultimately emerge stronger.
Devolutions adopts an inbound marketing approach, avoiding aggressive sales techniques. Consequently, our sales and marketing expenditure is half that of our competitors, which allows us to invest above the industry average in research and development. This commitment to R&D consistently delivers innovative features and functionality to our clients, adding value to their business operations.
We also prioritize delivering value to all stakeholders, not just shareholders. Recognizing our customers' integral role in our success, we're dedicated to fostering robust relationships with each one of you. We don't merely sell software; we're here to help you achieve your objectives and prosper in your business.
During these uncertain times, partnering with stable, resilient companies is more crucial than ever. When you collaborate with Devolutions, you can trust that you're engaging with a financially secure company devoted to innovation, continuous improvement, and delivering value to all stakeholders. We're not in it for the short term; we're here for the long haul, steadfastly committed to your success regardless of the challenges ahead.
Thank you for placing your trust in Devolutions as your technology partner. We eagerly anticipate further supporting your business goals.