Metatek-Group (MTEK) Small-Cap Virtual Conference summary

Business overview and technology

• Focuses on subsurface wealth identification for nation-state clients, using proprietary airborne gravity gradiometer technology for rapid, high-resolution data acquisition and interpretation.

• Vertically integrated, owning both aircraft and instruments, enabling control over data acquisition, processing, and delivery.

• Technology offers significant advantages over traditional seismic methods in speed, cost, and multidisciplinary applications, supporting energy, minerals, infrastructure, and hydrology projects.

• Holds exclusive global rights to operate Lockheed Martin's highest-resolution eFTG system, with additional instruments for helicopter and marine deployment.

• 100% repeat client rate, with projects expanding in scope after initial engagements due to data quality and versatility.

Financial performance and growth

• Achieved 99% revenue growth in 2025, reaching just under $24 million, with EBITDA margins around 39% and gross profit margins above 60%.

• 2026 revenue guidance is $28–$32 million, with long-term EBITDA margin targets of 50%.

• Revenue is highly seasonal, with most contracts awarded and executed in the second half of the year due to government client budget cycles.

• Backlog doubled to $89 million since IPO, with a pipeline of $200–$250 million in potential projects.

• Each instrument generates $20–$25 million in annual revenue, with plans to scale by adding new instruments and shifting to a leasing model for aircraft.

Market strategy and expansion

• Demand is driven by geopolitical trends, with 90% of clients being nation-state entities seeking to map and control their own subsurface resources.

• Recent contract wins in the Philippines and ongoing projects in Azerbaijan and Japan highlight expansion into underexplored, resource-rich regions.

• Capacity, not demand, is the main constraint; immediate deployment of additional instruments could add $50 million in revenue.

• Plans to introduce marine-deployed instruments and expand software offerings (GeoVault) for data integration and marketplace services.

• Considering strategic partnerships for aviation to reduce capital intensity as business scales.