InvestorWire NewsRoom

InvestorNewsBreak

InvestorNewsBreaks – Nextech AR Solutions Corp. (CSE: NTAR) (OTCQX: NEXCF) (FSE: EP2) Announces Surge in Preliminary Annual Growth, Eyes Breakout Opportunity in ‘The Year of AI’
January 12, 2023

InvestorNewsBreaks – Nextech AR Solutions Corp. (CSE: NTAR) (OTCQX: NEXCF) (FSE: EP2) Announces Surge in Preliminary Annual Growth, Eyes Breakout Opportunity in ‘The Year of AI’

Nextech (CSE: NTAR) (OTCQX: NEXCF) (FSE: EP2), a metaverse company and leading provider of augmented reality (“AR”) experience technologies, wayfinding technologies and 3D model services, today reported a surge in its preliminary annual growth in 3D modeling revenue to over 266% compared to 2021. In addition, the company’s technology services gross profit margin expanded by 53% in 2022, jumping to 43% compared to 28% in 2021. “2022 was a great year and has built a solid foundation of ever expanding 3D model customers in the ecommerce space for Nextech. As we enter 2023, we are leveraging the game-changing power of generative AI, which we believe gives us a major competitive advantage in the 3D model market,” said Evan Gappelberg, CEO of Nextech. “With generative AI, we are creating an increasingly wider exponentially growing moat: the more models we make, the larger that part library gets, and the easier it gets to make new 3D models. I believe that we are at the point where our business creates a virtuous cycle of growth and value. 2023 is going to be the year of AI and a breakout year for growth in our 3D modeling business, as we have already announced multimillion-dollar enterprise contacts with even more expected to land in Q1 2023.”

To view the full press release, visit https://ibn.fm/rcHiO

About Nextech AR Solutions Corp.

Nextech is a diversified augmented reality (“AR”), artificial intelligence (“AI”) technology company that leverages proprietary 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. For more information about the company, visit www.NextechAR.com.

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.investorwire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork.

Recent NewsBreaks

NewsBreaks Categories

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(310) 299-1717

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).