Welcome to our dedicated page for Nextech3D AI news (Ticker: NEXCF), a resource for investors and traders seeking the latest updates and insights on Nextech3D AI stock.
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) has launched its next-generation advertising technology, integrating 3D ads on Google's platform without requiring app downloads. This upgrade utilizes WebXR to deliver engaging AR experiences and provides detailed analytics for customers, enhancing their digital advertising effectiveness. CEO Evan Gappelberg highlighted that their 3D ads yield a click-through rate of approximately 5%, significantly higher than Google's average. This strategic move positions NexTech to leverage Google's extensive reach, aiming for increased market engagement in the AR advertising space.
NexTech AR Solutions Corp. (NEXCF) reported strong financial results for Q2 2021, with revenues of $6.1 million, a 73% increase from $3.5 million in Q2 2020. Gross profit rose to $2.3 million, up over 6%. For the first half of 2021, revenue surged 130% to $13.8 million, with gross profit increasing 59% to $5.6 million. The company had cash on hand of $15.4 million as of June 30, 2021. Additionally, NexTech acquired Threedy.ai Inc., enhancing its capabilities in augmented reality model production.
Nextech AR Solutions Corp. (OTCQB: NEXCF) announced the acquisition of ARway, enhancing its capabilities in building the Metaverse. The acquisition provides a spatial mapping platform essential for augmented reality applications. Nextech's CEO, Evan Gappelberg, and ARway's CEO, Baran Korkmaz, will discuss this development in a livestream scheduled for August 11, 2021, at 12:30 PM ET. This strategic move aims to position Nextech as a leader in AR for eCommerce and virtual experiences.
Nextech AR Solutions Corp. (OTCQB: NEXCF) has announced a definitive agreement to acquire U.K.-based ARWAY in an all-stock transaction valued at approximately US$1 million. This strategic move is aimed at enhancing Nextech's capabilities in the evolving Metaverse space. ARWAY's spatial mapping platform will enable Nextech to offer immersive experiences for various locations, including museums and sports stadiums. The acquisition is expected to close in August 2021, pending regulatory approvals and shareholder support.
Nextech AR Solutions Corp. (OTCQB: NEXCF) announced the integration of its HoloX mixed reality solution into HoloLens2, set for release in September 2021. This integration will enhance user experience with gesture controls through eye-tracking and hand gestures. The company's AR Innovation Labs project aims to facilitate immersive interactions across various sectors, including education and military training. According to Gartner, the digital human economy could reach $125 billion by 2035, highlighting the growing potential for Nextech in the AR space.
Nextech AR Solutions Corp. (OTCQB: NEXCF) announced that Ryerson University has ordered 35 augmented reality labs for its biology, chemistry, and biochemistry departments. This addition will bolster Ryerson's AR immersive learning program, making it one of the largest globally. These new labs complement the 50 labs developed in the previous school year and will enhance the AR Lab Builder Program in partnership with the Ontario government. The labs offer innovative learning modules and are designed to provide students with real-time feedback and engage them in complex scientific concepts.
Nextech AR Solutions Corp. (OTCQB: NEXCF) has closed a deal worth approximately $185,000 with FENEX for the fenestration industry's first virtual exhibition platform using Nextech’s LiveX technology. The event is expected to attract over 30,000 attendees in the home improvement sector. This partnership aims to enhance the digital marketplace experience for builders and consumers, promoting augmented reality product interactions and improving business opportunities.
Nextech AR Solutions (NEXCF) is set to release its Q2 2021 financial results after market close on August 11, 2021. A conference call is scheduled for August 12 at 1:00 p.m. ET, featuring CEO Evan Gappelberg and CFO Andrew Chan, which will include a discussion on the financial results followed by a Q&A session. The company focuses on augmented reality platforms and derives most of its revenue from e-commerce platforms, including vacuumcleanermarket.com and infinitepetlife.com. An updated corporate presentation is now available on Nextech's website.
Nextech AR Solutions (OTCQB: NEXCF) announces plans for an NFT hologram creator platform, expected to launch in Q3. This platform will enable customers to purchase and interact with AR digital collectibles. The NFT market surged to $2.5 billion in sales this year, indicative of growing demand. Nextech's platform will initially involve purchases through third-party marketplaces before transitioning to in-house transactions. The integration of Threedy.AI technology will enhance NFT capabilities by creating AR NFTs at scale. The digital human economy is predicted to reach $125 billion by 2035.
Nextech AR Solutions Corp. (OTCQB: NEXCF) announces a live investor presentation featuring CEO Evan Gappelberg and President Paul Duffy. Scheduled for July 20, 2021, at 11:30 AM ET, the presentation will discuss the impact of the Threedy.ai acquisition on the company's future. Nextech develops AR platforms for diverse applications, including e-commerce and virtual events, though its primary revenue currently comes from three e-commerce sites: vacuumcleanermarket.com, infinitepetlife.com, and Trulyfesupplements.com.