Judges Scientific PLC Geotek: Geologic AI Competition

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I'll come back to that. From the outside, it seems things took off rapidly. You started to pivot into mining around 2018 or 2020. How did this disruption happen? You start building a solution in mining and become one of the leaders within two years

I wouldn't say they were the leader, to be honest. They might think they are, but they only have 20 units, and I'd say only 10 of them are actually active. It's hard to claim they're the leader in the field. It's like a relationship; core scanning is cool and fun.

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I'll come back to that. From the outside, it seems things took off rapidly. You started to pivot into mining around 2018 or 2020. How did this disruption happen? You start building a solution in mining and become one of the leaders within two years

Once the honeymoon phase is over, you question if it actually works. It's similar to AI, where the technology trend peaks and then declines. GeologicAI lacked focus. Instead of chasing every shiny object and trying to be everything to everyone, they should focus on what they're good at and offer a high-quality product. They had problems with quality, overselling, underdelivering, and not maintaining growth.

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That helps with framing. Returning to the broader picture, you mentioned 20 units deployed. What's the rough revenue run rate that GeologicAI is generating to give an idea of scale?

They have 20 units, but not all are deployed. Roughly, each unit makes $700,000 to $900,000 a year if fully deployed.

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