TORONTO, O.N, Canada –June 27, 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, Kohls and other major e-commerce retailers provides an update to shareholders on its 3D modeling business and its Nextech Event Solutions product, as well as recent spin-off companies ARway.ai in which it controls a 49% stake, and Toggle3D.ai in which Nextech3D.ai retains a 45% stake.
With Nextech3D.ai’s suite of commercialized products and pure play spin-off Companies, Nextech3D.ai is perfectly positioned to capitalize on the transformational technology shift that is happening now with Artificial Intelligence (AI), Three Dimensional (3D) models, Augmented Reality (AR) and Machine Learning (ML). Mass adoption is being led by big tech and is driving massive growth in these markets.
In Q1, 2023 Nextech3D.ai reported sales surging +550% YoY & record 3D modeling revenue.
Q1 Highlights
- Multiple breakthrough generative AI patents filed
- Delivered 20,000 3D models to Amazon
- Year over year 3D model revenue growth +550%
- Sequential technology revenue growth +40%
- Gross profit increased to 41% from 39% in sequential quarters and is projected to increase in Q2
Read the full earnings press release - https://www.nextechar.com/press-releases-and-media/nextech3d.ai-reports-sales-surging-550-yoy-record-3d-modeling-revenue-for-first-quarter-2023
Nextech3D.ai
Nextech3D.ai provides AI-powered 3D modeling solutions focusing on the e-commerce industry. The Company’s breakthrough patented-based generative AI technology enables
3D model creation, CAD-POLY and 2D to 3D conversion, which 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 since only a minuscule >1% of the 300 million products listed on Amazon have been converted from 2D-3D. Thus far, Nextech3D.ai has delivered approximately 25,000 models to Amazon. With the increasing popularity of e-commerce globally, the Company's services are becoming more valuable, providing an excellent runway for ongoing growth. The Company also supplies some of the largest brands and platforms including; Kohls, Target, Dyson, Eletrolux, LifeFitness, P&G, CB2, Bucketplace, and more.
The Company is focused on increasing its breakthrough generative AI to scale 3D model production and increase profit margins from the 40% range to the 80% range and going cash flow positive, which the Company believes is achievable with its breakthrough AI.
Patents
Nextech3D.ai also has an expansive patent portfolio protecting its groundbreaking technologies. Technology patents are essential for the Company as they protect intellectual property, provide a competitive advantage, facilitate strategic positioning, and foster innovation. Patents safeguard the Company’s innovative ideas and groundbreaking technologies, granting exclusive rights. They enable Nextech3D.ai to capitalize on their inventions, attract customers and investors, and establish themselves as leaders in their industry.
Nextech3D.ai has eleven patents pending and expects to file additional patents to protect its breakthrough technology:
ARway.ai is 49% owned by Nextech3D.ai (13 million shares)
ARway.ai was the first spin-out from Nextech3D.ai. On October 26, 2022 Nextech3D.ai spun out its spatial computing platform, “ARway.ai” as a stand alone public Company. Nextech3D.ai retained a control ownership in ARway.ai with 13 million shares, or a 49% stake, as of the close on June 26, 2023 the valuation of these shares was $9.62 million. At a stock price all time high of $2.95, the valuation of these shares was $38.3 million. An additional 4 million ARway.ai spin-off shares were distributed to Nextech3D.ai shareholders on a pro-rata basis. 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.
The next multi-decade long growth cycle in technology will be dominated by AR glasses, and ARway.ai is perfectly positioned. Recently ARway.ai has announced that it currently provides software solutions compatible with AR Headsets, such as Magic Leap 2 and HoloLens 2, and intends to distribute its groundbreaking indoor navigation and 3D technology with the Apple ecosystem for the Vision Pro Augmented Reality Headset. According to Statista, Apple claimed a 20.5 percent share of the global smartphone market in the first quarter of 2023. With Apple being a premier provider of smartphones, the Apple Vision Pro is anticipated to be an industry leading AR headset, with technological breakthroughs as the “first ever wearable spatial computer.” ARway currently performs best on iOS devices and will seamlessly integrate with Apple’s ecosystem.
The ARway offering has an unlimited number of use cases for augmenting physical spaces in the metaverse, consisting of indoor navigation with AR activations to improve the visitor experience in large and complex spaces. With value propositions spanning multiple industries and use cases, ARway leverages Nextech’s 3D/AR technology solutions to new substantial markets, for use by creators, brands, and companies.
Toggle3D.ai 45% owned by Nextech3D.ai (13 million shares)
Toggle3D.ai was the second spin-out from Nextech3D.ai. Toggle3D.ai is a groundbreaking SaaS solution that utilizes generative AI to convert CAD files, apply stunning 4K texturing, and enable seamless publishing of superior 4K 3D models, serving various industries within the $160 billion CGI market. The spin-out IPO from Nextech3D.ai was finalized on June 14, 2023, and is now trading on the Canadian Securities Exchange (the “CSE”) under the ticker symbol: TGGL. Nextech3D.ai owns 13,000,000 common shares in escrow or about a 45% ownership stake in Toggle3D.ai. As of the close on June 26, 2023 the valuation of these shares was $14.3 million. At a stock price all time high of $4.75, the valuation of these shares was $61.7 million. An additional 4 million Toggle3D.ai shares have been issued as a stock dividend to Nextech3D.ai shareholders on a pro-rata basis and are currently being distributed. Toggle3D.ai plans to expand its presence to the Frankfurt and OTC markets in the near future.
With its Augmented Reality-based rapid prototyping web app, Toggle3D empowers designers, artists, marketers, and e-commerce owners to effortlessly convert, texture, customize, and publish high-quality 3D models and experiences, regardless of technical or 3D design expertise.
Nextech Event Solutions 100% owned by Nextech3D.ai
This is Nextech3D.ai’s Event Solutions Platform (formerly Map D) which includes the following components:
Interactive Floor Plan
The Map D interactive floor plan is a powerful tool for tradeshows, festivals, and conferences. With information-rich profiles, it's easy to build out a marketplace of participating vendors and connect them to attendees, sessions, speakers, and more. The floor plan is easy to navigate, search, and bookmark, making it an essential tool for any event with a vendor marketplace.
Booth Sales
Conference organizers can sell booth space to exhibitors with customizable gateway and checkout scenarios. The product allows clients to view the real-time availability of booths and their sales status. It allows exhibitors to reserve a booth or pay for it using a credit card directly from the floorplan.
Mobile App
The app combines the current MapD event management solutions technology with ARway, the AI-powered Augmented Reality Navigation platform with a disruptive no-code, no-beacon spatial computing solution, creating an industry-first augmented reality / artificial intelligence combined solution for event management providers.
Launched: The Public Company CEO Experience Podcast
Nextech3D.ai has recently launched “The Public Company CEO Experience Podcast,” featuring Evan Gappelberg, a highly accomplished three-time public Company CEO and serial entrepreneur. The podcast offers listeners an exclusive behind-the-scenes look into the dynamic life of a public Company CEO with valuable insights, while also discussing trending topics and providing business updates on Nexech3D.ai, Toggle3D.ai, and ARway.ai. To learn more please visit https://www.nextechar.com/investors/the-ceo-experience
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About Nextech3D.ai
(formally “Nextech AR Solutions Corp” or the “Company”) (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2 is a diversified augmented reality, AI technology Company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime Ecommerce Marketplace as well as many other online retailers. The Company 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 Corp. with 13 million shares, or a 49% stake, and distributed 4 million shares to Nextech AR Shareholders. ARway is currently listed on the Canadian Securities Exchange (CSE:ARWY), in USA on the OTCQB (OTC: ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE: E65). ARway Corp. 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 went public in June 2023, listed on the Canadian Securities Exchange (CSE:TGGL).
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
Lindsay Betts
investor.relations@Nextechar.com
866-ARITIZE (274-8493) Ext 7201
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.
