Nextech3D AI Stock Price, News & Analysis

Nextech AR Solutions Corp. reported record annual revenue of $25.9 million for 2021, a 47% increase from 2020. Key highlights include a 316% growth in Renewable Software Licenses revenue, totaling $1.4 million. In Q4 2021, total revenue reached $6.4 million, reflecting an 11% increase from Q3. However, annual gross profit remained flat at $9.8 million. The company successfully reduced operating expenses by $1.5 million in Q4 2021. Despite these positive indicators, Nextech reported a net loss of $32.7 million for the year.

Nextech AR Solutions Corp (OTCQB: NEXCF) is a Metaverse company sponsoring the XR Hackathon, 'Reality Hack,' at MIT from March 23-27, 2022. Their ARitize Maps platform will be utilized, allowing participants to create immersive projects while navigating the event. This platform is in Beta and will launch publicly in April, featuring an NFT viewer and monthly subscriptions. The initiative aims to inspire innovation in spatial computing. CEO Evan Gappelberg expressed excitement about leveraging their technology for real-world applications and gathering valuable user feedback.

Nextech AR Solutions Corp. (OTCQB: NEXCF) will release its audited financial results for FY 2021 and Q4 2021 after markets close on March 22, 2022. An earnings conference call is scheduled for the same day at 6:00 p.m. Eastern Time, featuring CEO Evan Gappelberg and CFO Andrew Chan. This call will discuss the financial results and management insights. Nextech focuses on augmented reality technologies and derives most of its revenue from e-commerce platforms like vacuumcleanermarket.com and infinitepetlife.com.

Nextech AR Solutions Corp. (OTCQB:NEXCF) released preliminary financial results for the fiscal year ended December 31, 2021. The company reported $975,000 in recurring revenue, driven by $475,000 in annual recurring revenue and over $500,000 from repeat business. Product sales reached $19.2 million, a 38% increase from 2020, while technology services generated $5.3 million, up 55%. Gross profit stood at $9.8 million, close to the previous year's audited figure. The global augmented reality market is projected to reach $340.16 billion by 2028, emphasizing the growth potential in this sector.

Nextech AR Solutions Corp. (OTCQB: NEXCF) reported its unaudited financial results for the fiscal year 2021, indicating a significant 47% increase in total revenue to $25.9 million. Key highlights include $19.2 million in product sales and a remarkable $1.4 million from renewable software licenses, representing a 316% growth year-over-year. The company's annual recurring revenue (ARR) reached approximately $975,000, driven by new customer contracts. The CEO expressed confidence in 2022's growth as the company expands its Metaverse offerings.

Nextech AR Solutions Corp. (OTCQB: NEXCF) has launched its new app, ARitize Holograms, which allows users to create human holograms using just their smartphones, without the need for green screens or special equipment. This innovative app leverages AI technology and is now available in the Apple App Store. In Q2, ARitize Holograms will integrate with Nextech’s Metaverse Studio and ARitize Maps, expanding its functionality within the Metaverse. The company aims to release an Android version soon and plans to introduce in-app purchases for additional revenue.

Nextech AR Solutions (CSE:NTAR)(OTCQB:NEXCF) has announced continued strong demand for its ARitize 3D and Metaverse Suite technology. The company has signed multiple 3D model AR eCommerce deals, indicating a growing acceptance of 3D models and metaverse products across various industries. CEO Evan Gappelberg shared insights into the factors driving this demand during an interview.

Nextech AR Solutions Corp (OTCQB: NEXCF) announces significant growth in 3D sales driven by rising demand for augmented reality (AR) across multiple industries. The company has secured new partnerships, including firms like Adler Jewelry and Source for Sports, expanding its ecommerce 3D modeling services. CEO Evan Gappelberg highlights a global demand for their ARitize 3D and Metaverse Suite technologies. This aligns with ecommerce trends favoring immersive shopping experiences, which enhance customer engagement and conversion rates, setting the stage for a potentially breakout year in 2022.

Nextech AR Solutions Corp (OTCQB: NEXCF) will participate in the eTail Palm Springs 2022 conference from February 28 to March 2, to showcase its augmented reality (AR) solutions, including ARitize 3D and ARitize CAD. The event features major retail players, allowing Nextech to highlight its innovative solutions aimed at enhancing ecommerce experiences. The company's AR technologies help online retailers increase sales, improve customer engagement, and reduce product returns. Major clients include Kohl's and Ford.