TORONTO, ON / ACCESSWIRE / April 17, 2023 / Nextech3D.ai (formally "Nextech AR Solutions Corp" or the "Company") (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a generative AI-powered 3D model supplier for Amazon, P&G, Kohl's, and other major e-commerce retailers, announces that the Company plans to release its fiscal year 2022 and fourth quarter 2022 audited financial results after markets close on Thursday, April 20, 2023.
Subsequently, Nextech will host a conference call to discuss the fiscal year 2022 and fourth quarter 2022 results on Thursday, April 20, 2023, at 5:00 p.m. Eastern Time. Please join Evan Gappelberg, Chief Executive Officer, and Andrew Chan, Chief Financial Officer, to discuss these financial and operating results followed by a question and answer period.
Conference Call Details:
Title: Nextech3D.ai Fiscal Year 2022 and Q4 2022 Financial Results
Call Date: Thursday, April 20, 2023
Time: 5:00 PM (GMT-04:00) Eastern Time (US and Canada)
Participant Toll-Free Dial-In Number: +1 (888) 330-2024
Participant Toll Dial-In Number: +1 (646) 960-0187
Earnings Call ID: 7778367
Webcast Attendee URL: https://events.q4inc.com/attendee/612528713
For those unable to join the live event, a recording of the presentation will be posted on the Company's IR website.
Previously Published Preliminary 2022 Annual and Q4: 3D Model and Technology Services Financial Highlights (unaudited)
- Preliminary total revenue for fiscal 2022 was $10.3 million
- Technology services generating $3.1 million
- Legacy ecommerce business generating $7.2 million
- 3D modeling revenue increased +266% compared to 2021 contributing $1.5 million 2022
- 2022 technology services gross profit margin expands by 53% jumping up to 43% in 2022 compared to 28% in 2021 on $3.1 million total revenue
- Nextech3D.ai Expands Its AI Team With New Key Hires To Meet The Accelerating Demand For 3D Models For Ecommerce at Mass Scale
Nextech3D.ai Announces Execution of Arrangement Agreement To Spin Out
Generative AI IPO Toggle3D To Shareholders
- Nextech3D.ai AI-Powered CAD Design Studio Toggle3D Achieves 10X File Reduction Opening Up The platform to New Large Enterprise Customers
- Nextech3D.ai Enters Asian Market with Major 3D Modeling Deal to Revolutionize E-commerce
Nextech3D.ai (formally "Nextech AR Solutions Corp" or the "Company") (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2) is a company that provides AI-powered 3D modeling solutions focusing on the e-commerce industry. Its breakthrough generative AI technology enables the creation of high-quality 3D models quickly and efficiently. Nextech3D.ai's suite of products, including patented AI-based technology for 3D model creation and 2D to 3D conversion, has positioned it as a leader in the industry. The company is already a preferred 3D model supplier for Amazon, representing a massive growth opportunity. With the increasing popularity of e-commerce globally, Nextech3D.ai's services are becoming more valuable, providing an excellent runway for ongoing growth. For investors looking to participate in the commercialization of AI technology, Nextech3D.ai presents a unique investment opportunity.
The Company also develops or acquires what it believes are disruptive technologies and once commercialized, spins them out as stand-alone public Companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out.
On October 26, 2022 Nextech3D.ai spun out its spatial computing platform, "ARway" as a stand alone public Company. Nextech3D.ai retained a control ownership in ARway.ai with 13 million shares, or a 50% stake, and distributed 4 million shares to Nextech3D.ai Shareholders. ARway.ai is currently listed on the Canadian Securities Exchange (CSE:ARWY), in USA on the (OTC:ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE:E65). ARway.ai is disrupting the augmented reality wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking.
On December 14, 2022 Nextech announced its second spinout of Toggle3D, an AI-powered 3D design studio to compete with Adobe. Toggle3D is expected to be public in the first half of 2023.
For further information, please contact:
Investor Relations Contact
866-ARITIZE (274-8493) Ext 7201
CEO and Director
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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