Judges Scientific PLC: Geotek’s BoxScan Growth Challenges
Former MD at a Geotek Distributor
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Judges Scientific PLC: Geotek’s BoxScan Growth Challenges(May 12, 2025)
Former MD at a Geotek Distributor
Interview Transcript
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That's what I wanted to ask. How much does each machine cost?
Each machine costs about half a million dollars.
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In what sense?
In terms of our leasing rates, although they were fair, the speed of acquisition for this machine is crucial because it's a very competitive market. It's a fabulous machine, don't get me wrong, but it could be even more fabulous. We can discuss that in a minute. However, the speed of the machine is quite slow compared to other competitive products on the market. The Vanta has slowed it down, and the leasing rate was between $1,200 to $1,600 US a day. So, if you've got a half a million dollar machine, let's call it an average of $1,400 a day. That's a year to pay back that machine on a long-term lease, with the average probably being about $1,400. We scaled the day rates accordingly.
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In what sense?
This is very good for this type of equipment. I believe they shouldn't have been so greedy. We could have lowered our day rate to get more equipment in the market, resulting in more machines. The revenue would have been the same, but our return on investment, or ROI, from each machine would have been better. You have to remember, $500,000 is the retail price. I can discuss the cost price if you're interested.
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