2023 Annual Revenue Growth of + 56%
2023 Annual Revenue of $5 million
TORONTO, O.N, Canada – April 29, 2024 - Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, Wesfarmers Group "Bunnings" and other major e-commerce retailers reports its Fiscal Year 2023 and Fourth Quarter 2023 Financial Results the year ended December 31, 2023.
Please join Evan Gappelberg, Chief Executive Officer and Andrew Chan, Chief Financial Officer today after the close where Nextech3D.ai will host a conference call to discuss these financial results.
Evan Gappelberg - CEO Commentary
Preliminary Annual 2023 Financial Highlights:
- 2023 Annual revenue growth of + 56%
- 2023 Annual revenue of $5 million compared to $3.2 million in 2022
- 70,000 3D models created to date
2024 Outlook:
- New demand for 3D models expected to gain momentum throughout the year driven by large enterprise customers
- 2023-Cost cutting measures and pivot to India to reduce the company's burn in 2024 by as much as 75%
- Q1 2024 Gross Profit margins estimated to be 50-55%
- Q2 2024 Gross margin estimated to be 80%
- Q2 Improved margins put India 3D modeling business as a stand-alone business unit projected to go cash flow positive
- New 3D photography and AI-driven product launches expected to drive additional revenue and growth in 2024
- Multiple patents have already issued in 2024 with additional patent issuances expected
- Company is Launching Several Enhanced AI 3D Productivity Tools in Q2, Q3 2024
NexTech3D.AI Corporation
Statement of Financial Position
December 31, 2023
NexTech3D.AI Corporation
Statement of Loss and Comprehensive Loss
December 31, 2023
NexTech3D.AI Corporation
Statement of Cash Flow
December 31, 2023
Conference Call Details:
- Title: Nextech3D.ai Full Year 2023 and Q4 2023 Financial Results
- Call Date: Monday, April 29, 2024
- Time: 05:00 PM (GMT-04:00) Eastern Time (US and Canada)
Participant Details:
- North America Toll-Free: (888) 330-2024
- North America Toll: (646) 960-0187
- International Toll: +1(646) 960-0187
- Conference ID: 7778367
- Webcast Attendee URL: https://events.q4inc.com/attendee/810085104
For those unable to join the live event, a recording of the presentation will be posted on the Company's Investor Relations website.
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About Nextech3D.ai
Nextech3D.ai or the "Company," (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent company Nextech3D.ai.
Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB: ARWYF | CSE: ARWY | FSE:E65 ) its spatial computing platform, as a standalone public company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB: TGGLF | CSE: TGGL | FSE: Q0C ) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@nextechar.com
Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
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.
