TORONTO, O.N, Canada – April 12 , 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 announces the Company plans to release its fourth quarter and annual audited 2022 financial results after markets close on Thursday, April 20, 2023.
Subsequently, Nextech will host a conference call to discuss the fourth quarter 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 Announces Fourth Quarter and Annual Earnings & Conference Call
Call Date: Thursday, April 20, 2023
Time: 05:00 PM (GMT-04:00) Eastern Time (US and Canada)
Details to join will follow in subsequent press release.
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
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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 50% 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 (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 is expected to be public in the first half of 2023.
To learn more about ARway, visit https://www.arway.ai/
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.
