Nextech3D.ai
Reports Record Preliminary Q2 Revenue Up +155% To $1.4Mill &
Guides Towards Breakout Q3 Revenue +200% of $1.7Mill - $1.9Mill
Amid Surging 3D Model Demand
Generative
AI Positions Company For Breakout Revenue Growth in 2023
Generative
AI Driving Exponential Growth For Web3.0 Portfolio of Technologies
for Ecommerce
AI is
Enabling Scaling of 3D Model Production
Join
Proactive News & CEO Evan Gappelberg for an Investor Livestream
TODAY at
12 p.m ET / 9 a.m PT
TORONTO, O.N,
Canada -- August 1, 2023 -- InvestorsHub NewsWire
-- Nextech3D.AI
(formerly "Nextech AR
Solutions Corp'' or the "Company") (OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2), a Generative AI-Powered 3D model supplier for
Amazon, P&G, Kohls and other major e-commerce retailers is
pleased to announce its preliminary unaudited financial and
operating results for its second quarter ended June 30,
2023.
Preliminary Q2 2023
Financial Highlights:
-
Revenue for Q2 2023 was
$1.4 million, up +155% compared to 2022;
-
Revenue for 6-months ending June
30th, was $2.7 million up +157% compared to
2022;
-
Gross profit remained consistent at
38%, contributing $1.1 million and $0.5 million year to date and
for Q2, respectively;
-
Gross margin is expected to increase
to 40-50% next quarter, and increase in Q4 and 2024 as its AI takes
over
Evan
Gappelberg - CEO Commentary:
Nextech3D.ai CEO Evan
Gappelberg comments" Our preliminary results for Q2 were
impressive, as we achieved record sales of $1.4 million. However,
what excites me even more is the exciting growth we are witnessing
in our Q3 and Q4 orders. Based on the current order flow from
Amazon, we are projecting a breakout Q3 quarter with revenue of at
least $1.7 million, and we also anticipate an expansion in profit
margins. He Continues " We believe there is potential for the
revenue to exceed $1.7 million as that is our conservative estimate
for Q3. This quarter is expected to be the long-awaited turning
point for our company. This belief is reinforced by the recent
announcement of a significant expansion contract worth
$2.2 million from Nextech3D.ai's largest customer,
Amazon. This
contract highlights the success of Nextech3D.ai's groundbreaking
generative-AI technology, positioning the company as the leading AI
solution globally for scaling 3D model production in the thriving
e-commerce, gaming, and manufacturing industries. Furthermore,
thanks to our latest funding round, our cash position is now robust
enough to accommodate the increased demand we anticipate in the
second half of 2023 and beyond."
Investor Livestream
JOIN US: Today,
Tuesday, August 1st, 2023
TOPIC: Amazon
Partnership Part II
Time: 12:00 p.m
ET / 9:00 a.m PT
Presenters: Evan
Gappelberg (Founder and CEO), and Reza Davariar (COO)
Link to join:
https://www.youtube.com/watch?v=aL2bz3wlpvI
To watch part I of this livestream series, click here: The Nextech3D.ai Amazon
Partnership Explained
Board of Directors and Audit Committee Changes
The Company
would also like to announce the appointment of Anthony Pizzonia,
CPA, to the Board of Directors and as a member of the Audit
Committee.
Anthony has
over 30 years of experience in operating, financing, and business
development within the public markets and has a demonstrated
ability to manage financial and operational challenges within
dynamic and growing businesses.
Mr.
Pizzonia currently serves as Senior Director of Finance for GS1, a
global standards organization. Previously, Mr. Pizzonia held a
variety of positions with increasing responsibility for over 24
years, at AlarmForce Industries, one of the largest residential
security companies in North America. He ultimately served as
Director and Chief Financial Officer from 1992 to 2016, and
eventually President before the company was acquired by Bell Canada
(BCE) in Sept 2017.
Mr.
Pizzonia was also CFO of ImaginAR, a publicly traded technology
company that provides a self-publishing platform that integrates
with a mobile app to instantly create augmented reality campaigns.
Mr. Pizzonia is a Chartered Public Accountant and holds an Honours
Bachelor of Administrative Studies degree from York
University.
Recent News
The Public Company CEO Experience Podcast
Nextech3D.ai has recently
"The Public Company CEO Experience Podcast," featuring Evan
Gappelberg, a highly accomplished three-time public company CEO and
serial entrepreneur. The podcast offers listeners an
exclusive behind-the-scenes look into the dynamic life of a public
company CEO with valuable insights, while also discussing trending
topics and providing business updates on Nexech3D.ai, Toggle3D.ai,
and ARway.ai. To learn more please visit https://www.nextechar.com/investors/the-ceo-experience
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About
Nextech3D.ai
(formally "Nextech AR
Solutions Corp" or the "Company") (OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2 is a diversified augmented reality, AI
technology company that leverages proprietary artificial
intelligence (AI) to create 3D experiences for the metaverse. Its
main businesses are creating 3D WebAR photorealistic models for the
Prime Ecommerce Marketplace as well as many other online retailers.
The Company develops or acquires what it believes are disruptive
technologies and once commercialized, spins them out as stand-alone
public Companies issuing a stock dividend to shareholders while
retaining a significant ownership stake in the public
spin-out.
On October 26, 2022
Nextech3D.ai spun out its spatial computing platform, "ARway.ai" as
a stand alone public Company. ARway.ai is disrupting the augmented
reality wayfinding market with a no-code, no beacon spatial
computing platform enabled by visual marker tracking. Nextech3D.ai
retained 13 million shares in ARway and distributed 4 million
shares to Nextech3D.ai shareholders. ARway.ai is currently listed
on the Canadian Securities Exchange (CSE:ARWY), in USA on the OTCQB
(OTC: ARWYF) and Internationally on the Frankfurt Stock Exchange
(FSE: E65).
On June 14, 2023, the
Company completed its second spinout of Toggle3D.ai, a
groundbreaking SaaS solution that utilizes generative AI to convert
CAD files, apply stunning 4K texturing, and enable seamless
publishing of superior 4K 3D models. Nextech3D.ai retained 13
million shares in Toggle3D.ai and distributed 4 million shares to
Nextech3D.ai shareholders. Toggle3D.ai is trading on the Canadian
Securities Exchange (CSE:TGGL) and in the USA
(OTC:TGGLF).
To learn more, please
follow us on
Twitter,
YouTube,
Instagram,
LinkedIn,
and
Facebook, or
visit our website:
https://www.Nextechar.com.
For further information,
please contact:
Investor Relations
Contact
Lindsay Betts
investor.relations@Nextechar.com
866-ARITIZE (274-8493)
Ext 7201
Nextech3D.ai
Evan
Gappelberg
CEO and
Director
866-ARITIZE
(274-8493)
Forward-looking
Statements
The CSE
has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Certain
information contained herein may constitute "forward-looking
information" under Canadian securities legislation. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as, "will be" or variations of
such words and phrases or statements that certain actions, events
or results "will" occur. Forward-looking statements regarding the
completion of the transaction are subject to known and unknown
risks, uncertainties and other factors. There can be no assurance
that such statements will prove to be accurate, as future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. Nextech
will not update any forward-looking statements or forward-looking
information that are incorporated by reference herein, except as
required by applicable securities laws.
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