Nextech3D.ai Corp. develops AI and machine-learning software for event technology, digital commerce, and spatial computing. Its updates center on enterprise event platforms, including Eventdex, Map D/Map Dynamics and Krafty Labs, as well as AI-driven event intelligence, automation, computer vision, 3D modeling, digital twins and ARitize3D product visualization.
Company news also covers platform monetization and integrations such as hotel booking, blockchain-based ticketing, custodial wallets and fiat checkout, along with enterprise contracts, operating-efficiency initiatives, auditor changes and insider ownership activity.
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Nextech3D.ai (OTCQX:NEXCF) announces conditional approval from the Canadian Securities Exchange (CSE) for its spin-off of Toggle3D.ai, an AI-powered 3D modeling platform. Toggle3D.ai allows users without technical knowledge to create high-quality 3D models easily. The new CSE trading symbol will be TGGL, with trading expected to commence in June 2023. Shareholders will receive 4 million new shares in Toggle3D.ai on a pro-rata basis. Toggle3D.ai aims to revolutionize the design industry by converting large CAD files into accessible 3D models. The global GGI Application Software market is valued at $160 billion, presenting a significant opportunity for growth. With its innovative platform, Nextech3D.ai retains a strategic position as a leader in 3D modeling solutions for e-commerce.
Nextech3D.ai (OTCQX: NEXCF) announced its financial results for Q4 and fiscal year 2022, showcasing impressive growth in 3D modeling revenue, which surged by 266% from 2021 to reach $1.5 million. The company reported total fiscal revenue of $11.5 million, with technology services contributing $3.2 million. The gross profit margin for technology services expanded to 82% in 2022, indicating a substantial increase from 51% in 2021. Notably, Amazon became Nextech's largest enterprise customer, marking a significant endorsement of its 3D model services. The CEO expressed optimism for the future, emphasizing the growing demand for 3D modeling in multiple sectors.
Nextech3D.ai (OTCQX:NEXCF) announced plans to release its audited financial results for fiscal year 2022 and Q4 2022 on April 20, 2023, after market close. A conference call will follow at 5:00 PM ET, featuring CEO Evan Gappelberg and CFO Andrew Chan. In preliminary reports, Nextech3D.ai declared total revenues of $10.3 million for 2022, with technology services contributing $3.1 million and a legacy e-commerce business generating $7.2 million. The 3D modeling segment saw an impressive 266% increase year-over-year, bringing in $1.5 million. Gross profit margins for technology services rose to 43% in 2022, up from 28% in 2021. Nextech3D.ai focuses on the growing e-commerce sector, offering significant growth opportunities in AI-powered 3D modeling, positioning itself as a key supplier for major retailers.