Nextech3D AI Stock Price, News & Analysis

Nextech AR Solutions Corp (OTCQX: NEXCF) reports significant growth in demand for its 3D model services, driven by contracts with major clients like Procter & Gamble and Majid Al Futtaim. The company is capitalizing on a rising trend in eCommerce, emphasizing the high return on investment (ROI) for 3D models. In 2023, Nextech anticipates securing numerous additional contracts across various sectors, including home goods, sports equipment, and specialty products. The firm believes the accelerating adoption of 3D models will enhance customer engagement and reduce product returns, further solidifying its position in the augmented reality market.

Nextech AR Solutions Corp. (OTCQX:NEXCF) reported preliminary total revenue of $10.3 million for the fiscal year 2022, with $7.2 million attributed to its legacy eCommerce business. Revenue from technology services reached $3.1 million, with gross margins climbing from 28% to 43%. The booming 3D Modeling sector significantly contributed, achieving a remarkable 266% increase. The company has also received a US patent for its AI-based 3D model creation technology. Investments in its spinoff ventures, including ARway and Toggle3D, are expected to further enhance market positioning. Currently, shares are trading at $0.85.

Nextech AR Solutions reported a significant growth of 266% in 3D modeling revenue for 2022, reaching $1.5 million. Total revenue for the year was $10.3 million, with a gross profit margin in technology services rising to 43%, up from 28% in 2021. The company is leveraging generative AI to enhance efficiency in 3D model creation, which could position them favorably for future growth. Several large-scale contracts are anticipated in Q1 2023, indicating a promising outlook for the upcoming year.

Nextech AR Solutions Corp. (OTCQX:NEXCF), a leader in augmented reality, announced a patent update for its AI technology in 3D model creation. The patent, filed in November, enhances their existing library of over 100,000 3D model parts, streamlining model creation. Following a successful spinoff of ARway, contributing $17 million to market cap, the company also plans to spinoff Toggle3D, enabling easy 3D model creation for various professionals. The global CAD market is projected to grow significantly, indicating potential for Nextech's continued expansion.

Nextech AR Solutions Corp (OTCQX:NEXCF) recently announced a significant patent update for its generative AI technology that enhances 3D model creation for eCommerce. The company has filed a patent under US application #17/874,992, enabling rapid scaling of its 3D model library to over 100,000 parts, paving the way for increased production efficiency. CEO Evan Gappelberg emphasized the competitive edge this technology provides, predicting a strong market demand for 3D models. The company also issued shares worth $20,000 to Coachman's Research Program as part of its ongoing investor relations efforts.

Nextech AR Solutions has successfully upgraded to the OTCQX Best Market, enhancing its visibility and accessibility for U.S. investors. This market tier supports over 12,000 global securities, indicating a significant milestone for the company. CEO Evan Gappelberg highlighted that this upgrade will facilitate increased investor engagement and confidence. The move is expected to broaden Nextech's market presence and provide greater liquidity for its shares, aligning with the company’s growth objectives.

Nextech AR Solutions Corp. (NEXCF, NTAR, EP2) has announced that its common shares are now trading on the OTCQX® Best Market, enhancing visibility to U.S. investors. This upgrade signifies a key milestone as the OTCQX is designed for established companies meeting high financial standards and governance practices. CEO Evan Gappelberg stated this transition positions the company for success in 2023. Additionally, Nextech retains a 50% stake in the augmented reality platform ARway Corp., which operates under the symbols ARWYF and ARWY.

Nextech AR Solutions (CSE:NTAR)(OTCQB:NEXCF) is planning a spinout of its Toggle3D SaaS platform. The announcement will see Toggle3D and its assets transferred into a new subsidiary, with shares distributed pro-rata to Nextech shareholders. This move aims to enhance shareholder value by separating the software platform from the main company operations, allowing for focused growth strategies and potentially unlocking additional market value.

Nextech AR Solutions Corp. (OTCQB:NEXCF) announced plans to spin off its Toggle3D assets into a subsidiary, aiming for an IPO in early 2023. Shareholders will receive shares in the new company, pending legal considerations. Toggle3D is an innovative web application enabling users to design and publish 3D models without downloads or technical expertise. The spinoff follows a successful launch of ARway Corporation, which peaked at $2.95. Nextech holds 13 million ARway shares, contributing approximately $26 million to its market cap. The global computer-aided design market is projected to grow significantly through 2030.