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.
Nextech AR Solutions Corp (OTCQB: NEXCF) announces the adoption of LiDAR technology in its ARway platform, enhancing spatial mapping accuracy for augmented reality experiences. LiDAR enables the creation of detailed 3D models, offering improved user experiences for applications such as real estate and wayfinding. This growth aligns Nextech with industry leaders investing in advanced technologies. The company anticipates a favorable market position for ARway, projected to spin out as a standalone public company in October 2022.
Nextech AR Solutions (CSE:NTAR, OTCQB:NEXCF) has reported a remarkable 30% sequential growth in Annual Recurring Revenue (ARR) for Q2 2022, reaching nearly $1 million. This growth indicates a strong demand for their 3D modeling solutions as the company continues to expand its market presence. CEO Evan Gappelberg discussed these results in a recent interview, highlighting the company's ongoing commitment to innovation and customer satisfaction.
Nextech AR Solutions reported Q2 2022 financial results, achieving a 30% sequential growth in Annual Recurring Revenue (ARR) to nearly $1 million. The company recorded a record ARR of $1,566,000 and a 40% increase in Web3.0 3D modeling revenue. Cash burn decreased to $1 million/month, with expectations to cut expenses further by $500,000/month in the latter half of 2022. A wind-down of the eCommerce business is projected to bolster cash reserves by $1-2 million. Significant management changes were announced, alongside plans for a stock dividend following the anticipated ARway spinout.
Nextech AR Solutions Corp (OTCQB: NEXCF) has announced its participation in the Q3 Virtual Investor Summit, scheduled for August 16, 2022, at 10:15 AM ET. CEO Evan Gappelberg will present the Company's advancements in 3D modeling for e-commerce and the ARway technology for the Metaverse. The presentation will be accessible via webcast, with a recording available later. Investors can register for one-on-one meetings with Gappelberg, and the summit is complimentary for qualified participants.
Nextech AR Solutions Corp (NEXCF, NTAR) has announced the signing of 26 new 3D modeling contracts in July and early August 2022, with 7 of these being with major brands. The demand for 3D models is increasing as more companies transition from 2D to 3D e-commerce solutions. CEO Evan Gappelberg noted that existing customers are moving from test phases to longer-term contracts, indicating strong growth potential. The company is preparing to ramp up its 3D modeling capabilities from thousands to tens of thousands of models per month to meet anticipated demand.
Nextech AR Solutions Corp. (OTCQB: NEXCF) has launched the ARitize Configurator, an upgrade to its ARitize 3D app, enhancing eCommerce functionality for Shopify merchants. The app boasts a 40% conversion rate with 312 downloads and 124 paid merchant subscriptions. The Configurator allows businesses to display multiple product variations from a single 3D model, improving customer engagement and purchasing confidence through augmented reality experiences. CEO Evan Gappelberg emphasized the importance of adopting 3D model technology in the competitive eCommerce landscape.
Nextech AR Solutions (OTCQB:NEXCF) has introduced significant advancements in its technology, launching AR wayfinding within event spaces and enhancing its ARway spatial mapping platform. CEO Evan Gappelberg discussed these developments in an interview with InvestmentPitch Media. The collaboration with Map D aims to provide a comprehensive event management solution, integrating AR wayfinding and event management features. This innovation is anticipated to boost revenue potential and improve visitor experiences at events, enhancing the metaverse's role in event management.
Nextech AR Solutions Corp (OTCQB: NEXCF) has launched significant technology advancements with its AR wayfinding service, enhancing event management solutions in collaboration with Map D. This innovation is expected to tap into the rapidly growing Global Indoor Positioning and Navigation Market projected at $23.6 billion by 2025. The company also revealed a new ARway branding and website, alongside upgrades for its augmented reality spatial mapping platform, enhancing user engagement and exploring new revenue streams.
Nextech AR Solutions has announced a proposed spin-out of its ARway platform through an arrangement with its subsidiary, 1000259749 Ontario Inc. This move aims to better position both companies for growth. CEO Evan Gappelberg provided insights during an interview, detailing the strategic implications of this decision. Meanwhile, RevoluGROUP Canada has launched new financial products including RevoluTRANSFER and RevoluPAY Visa Instant cards, expanding its service offering. This press release comes from The Power Play by The Market Herald, which features executive insights for investors.
Nextech AR Solutions Corp (NEXCF) recently announced a significant increase in dividend shares to shareholders, raising the total to 4 million shares, a 25% increase from the previous 3.2 million. This follows the execution of an arrangement agreement effective July 29, 2022, to spin out its augmented reality platform, ARway, into a new entity, Spinco. Upon completion, Nextech will receive 16 million common shares of Spinco, distributing 4 million directly to its shareholders on a pro-rata basis. This strategic move aims to promote growth in the burgeoning Web3.0 environment.