Nextech3D.AI Corporation - NEXCF STOCK NEWS

Nextech3D.AI (OTCQB:NEXCF) has been certified as a 3D Model External Content Provider (ECP) for Amazon, positioning the company for significant growth in e-commerce. This certification highlights Nextech3D.AI's technical expertise in 3D modeling and AI technology. Amazon reports that listings with 3D models have seen a 2X improvement in purchase conversion on average.

Key features of Nextech3D.ai's 3D-Platform include seamless 3D model creation from 2D and CAD files, AI-driven 3D texturing, 2D photo renders from 3D models, and compliance with Amazon's standards. The company has delivered nearly 100,000 3D models and millions of AR experiences to hundreds of customers over the past five years.

Popular categories for 3D models in Amazon's stores include Home, Garden & Tools, Furniture, Kitchen & Dining, and Home Improvement. This partnership positions Nextech3D.AI to offer its solutions to Amazon's expansive marketplace of sellers.

Nextech3D.ai (OTCQX:NEXCF) has appointed Madison Wynsma as the new Head of Global Sales for its AI-powered 3D model platform. Wynsma brings extensive e-commerce experience from roles at Walmart and Kohl's, where she managed multi-million dollar businesses and strategic accounts.

This appointment comes as the e-commerce industry shifts towards 3D and AR technologies, with major players like Amazon focusing on these innovations. Nextech3D.ai is positioning itself as a leader in this transition, offering AI-powered 3D modeling, seamless AR integration, and customizable AR applications for retailers.

The company plans to issue 300,000 bonus shares to Wynsma and has granted 3,600,000 stock options to directors, officers, employees, and consultants.

Nextech3D.AI (OTCQB:NEXCF) announced its expansion into the specialty retail e-commerce sector by partnering with Wyvern Creations, the largest independent crossbow dealer in the USA. Wyvern Creations, which has been in business for 18 years, will convert all its products into 3D models using Nextech3D.AI's generative AI-powered 3D technology. The partnership aims to enhance the online shopping experience by allowing customers to visualize crossbows in 3D before purchasing, reducing the need for physical store visits.

Nextech3D.AI's advanced quad mesh technology enables detailed and realistic 3D imaging, providing Wyvern Creations with a competitive advantage in the archery industry. The ease of integrating 3D assets into Wyvern's website facilitated a quick launch of the 3D shopping experience. This expansion is part of Nextech3D.AI's broader strategy to transform e-commerce through immersive and interactive shopping experiences.

Nextech3D.ai, a leader in 3D and AR technologies, reports a significant shift in the e-commerce industry towards 3D models and AR experiences, replacing 360 spin views. The company supplies 3D models for major retailers like Amazon and Kohls, enhancing product visualization, customer engagement, and reducing return rates. At AWE USA 2024, key sessions will address the future of 3D and AR in e-commerce. Nextech3D.ai's patented AI-powered solutions offer state-of-the-art 3D modeling, seamless AR integration, and customizable applications. To manage cash flow, the company is issuing 9 million share purchase warrants to service providers, exercisable at CDN$0.125 over a year.

Nextech3D.AI announces advancements in AI-powered photography, enhancing its 3D model services for major e-commerce retailers. The technology creates dynamic lifestyle images from 3D models or CAD files, improving the transition from 2D photography to 3D renders. The AI algorithms generate high-quality images in resolutions up to 8K, offering faster, cost-efficient image production with no human error. This tool aims to boost revenue as e-commerce platforms require multiple high-res images per product. Nextech3D.ai's solution supports e-commerce and industrial designers, providing versatile, high-quality imagery quickly and affordably.

Nextech3D.ai (OTCQX:NEXCF) closed the sale of its Map Dynamics business to ARway.ai for $1.2 million in stock. This strategic move allows Nextech3D.ai to focus exclusively on its patented, high-margin generative AI-powered 3D modeling technology used by major e-commerce companies like Amazon and Miele. The divestiture streamlines operations and bolsters Nextech3D.ai's position in the 3D modeling and AI sectors. Additionally, ARway.ai gains approximately $1.2 million in revenue and $500,000 in free cash flow, enhancing its spatial mapping business.

Nextech3D.ai reported Q1 2024 revenue of $1,024,000 with a gross profit margin of 51%, a 70% increase compared to 2023. The company achieved this through significant cost-cutting measures, which reduced operating losses by 47%. Operational expenses decreased from $1.7 million per month in Q1 2023 to $850,000. Strategic initiatives include a move to India, investments in AI technology, and a new AI-powered 3D model search tool. The company also expanded its team and office space in Hyderabad, India, and established a new business unit targeting the jewelry industry. CEO Evan Gappelberg is optimistic about future profitability and revenue growth driven by large enterprise contracts and advanced discussions with five enterprise customers expected to close in Q2 and Q3 2024.

Nextech3D.ai (NEXCF) has sold its non-core Map Dynamics business to ARway, enhancing its focus on AI-powered 3D modeling technology for e-commerce giants. The transaction involved the exchange of Map Dynamics for 4 million ARway shares, valued at over $1 million. This move increases Nextech3D.ai's stake in ARway to nearly 50%, allowing it to benefit from ARway's growth without operational responsibilities. The divestiture is expected to close by mid-June and is set to improve ARway's financials by adding approximately $1.2 million in revenue and $250,000 in free cash flow. Nextech3D.ai aims to advance its core competencies in generative AI and 3D modeling, positioning itself as a leader in the digital commerce space.

Nextech3D.AI, a leading AI-powered 3D model supplier, has announced multiple new deals and renewals in its 3D modeling business. The company has delivered over 70,000 models and anticipates significant growth in 2024, driven by Amazon's expanding 3D model platform. Nextech3D.AI is extending its market reach into sectors such as brake pads, power tools, and more. CEO Evan Gappelberg highlighted the increasing demand for 3D AI models and digital renders in e-commerce, noting their ability to create immersive shopping experiences.

New models include brake pads, rotors, and Bosch power tools, with renewals from brands like City Grounds, Kromer, and William Wood Mirrors. Amazon's shift to 3D models is expected to enhance customer engagement and sales conversions. Nextech3D.AI's ARitize 3D solution offers automated 3D model creation, aiming to transform e-commerce with high-detail, interactive experiences.