00:00 Speaker A
Let’s start on this news, Ali, you’re acquiring diligent robotics, so expanding it sounds like beyond sidewalk delivery into hospitals. Explain this move, Ali. What why is this the the smart vertical for you guys to leverage?
00:19 Speaker B
Yeah, thanks for having me again, Josh. Um, we’re very excited about this. Uh, we’ve been talking about this in the past, if you recall that, you know, we see ourselves as a platform for robots that can move among people. Now, sidewalks and delivery, it’s a massive opportunity and it was a really great place to build the technology and we’re going to continue uh growing. As you know, we went from 100 robots to 2,000 robots last year alone. So we’re going to continue that, but we want to bring this to more places and you know,
00:53 Speaker B
uh opportunities to help more people. Uh diligent has been uh operating in hospitals. They’re in more than 25 hospitals with 100 robots. I think they’re at that inflection point just like us to grow really fast and we can really support them through that growth with our technology, with our platform. And I think it also means that we are now going to be helping again, uh more people in more places such as nurses who, you know, right now have to walk around grabbing supplies and and medication, or they could actually be more spending more time at bedtime of patients and using robots to to do that kind of minial work.
01:29 Speaker A
The hospital of course I it’s such obviously a very regulated, highly regulated arena and space. How do you sort of navigate that, Ali? You know, the questions I I would assume about safety and patient privacy and compliance.
01:47 Speaker B
Mhm. Absolutely. Look, there’s a lot of work that has been done by the diligent team and that’s why rather than us expanding into that by ourselves, we decided to go work with the team that has been doing that for years. Uh they have a fleet at a commercial scale already, who has actually tried to solve all these problems with HIP compliance, etc. So we can really just uh rely on their expertise so that we don’t have to learn things from scratch.
02:16 Speaker A
What what is the business model here, Ali? You know, what is, you know, how would monetization, how would it sort of compare and contrast with food delivery? Is it a potentially, you know, higher margin opportunity?
02:35 Speaker B
I believe it is, yes. Uh so we’ve shared in the in the news that uh, you know, diligent uh makes something in the order of two to to $400,000 per hospital. and usually hospitals have a handful of robots, you know, sometimes two or three. so you can kind of, you know, do the math on what that amounts to, but it’s a really um uh much higher kind of growth opportunity than uh an infrastructure play, which is what we our main business is like uh, you know, last mi
03:13 Speaker B
delivery. I think infrastructure is really, really big in terms of the addressable market, but it’s lower margin versus when you go into uh specific domains like this, you can often find, you know, things that may not be as big as the original time, but they have better uh margins and better profitability opportunities.
link