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.”
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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.
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