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Nextech AR Solutions Corp. (CSE: NTAR) (OTCQB: NEXCF) Announces Hybrid Event Collaboration, 342% Full-Year Revenue Increase 
April 28, 2021

Nextech AR Solutions Corp. (CSE: NTAR) (OTCQB: NEXCF) Announces Hybrid Event Collaboration, 342% Full-Year Revenue Increase 

  • Nextech announced a sponsor partnership with International Confex 2021 in which it will stream the program on its LiveX Digital Experience Platform (“DXP”)
  • The company is keen on promoting engagement for in-person and virtual attendees
  • Nextech released strong Q4 and FYE2020 results, reporting a 342% revenue increase and a 320% growth in its gross profits compared to the results for the year ending December 31, 2019 

With the impact of the ongoing vaccination drive already evident, as seen through the declining COVID-19 cases in the UK and US, a McKinsey & Company article notes that the downward trajectory of UK cases has heralded the start of a transition back to pre-pandemic normalcy (https://ibn.fm/MJ6np). 

Perhaps indicative of this return to normalcy, the International Confex 2021, to be held June 22-23 at the ExCel Center in London, UK, will be the first in-person event since the country went into lockdown last year. However, the conference will take an entirely new approach by going hybrid for the first time in its 38-year history. To this end, the event organizers, Mash Media, have partnered with Toronto-based Nextech AR Solutions (CSE: NTAR) (OTCQB: NEXCF) in a collaboration that will spread International Confex’s reach to a global audience, says a recent announcement (https://ibn.fm/aomOb). 

Seen as a way of dealing with the deficiencies of purely virtual events, hybrid events bring the best of both in-person and virtual worlds, and Nextech is at the forefront of making this integration possible. NTAR will stream the International Confex 2021 program on its LiveX Digital Experience Platform (“DXP”). The June event will be one of the first events to use LiveX DXP, recently launched on April 6 (https://ibn.fm/TbTT8), effectively showcasing its capabilities and features. 

Nextech will leverage its advanced AR technological solutions to provide an engaging experience for both in-person and virtual attendees. Further, Nextech’s solutions will cater to the brand sponsors and Mash Media by offering real-time analytics and return on investment (“ROI”) measurement.

“We are thrilled to partner with Nextech AR in our first foray into the world of hybrid events,” said International Confex’s Event Director Duncan Custerson. “International Confex has a strong pedigree of showcasing ‘best in breed’ technology, and working with the Nextech team has given us the confidence to take this ambitious step in the hybrid world. We look forward to doubling the program reach to a global audience and enhancing the attendee experience with Nextech’s AR technology.”

On his part, Nextech CEO Evan Gappelberg termed the collaboration as an opportunity for the company to showcase its industry-leading AR technologies, which include MapX (a dynamic exhibit floor mapping platform), 3D models, Ad Network, holograms and digital destination portal. Through the company’s Ad Network, Nextech will use promotions and advertising to create interactive experiences, promote product visibility and enable attendees to learn.

“Nextech AR is a tech company that puts AR into everything we do. Event planners, executives and thought leaders will be wowed by our DXP,” he continued.

Nextech also made a similarly positive announcement when it released its financial and operating results for Q4 and the year ended December 31, 2020, reporting that its 12-month revenue had increased 342% from CA$4.0 million (~US$3.2 million) in the seven months ended December 31, 2019, to CA$17.7 million (~US$14.2 million). In addition, its gross profits for FYE 2020 grew 320% to CA$9.9 million (~US$7.9 million) from CA$2.3 million (~US$1.8 million) for the seven months ended December 31, 2019 (https://ibn.fm/GDMhs). 

Nextech anticipates generating between CA$50 million and CA$60 million in revenue for FYE2021. With collaborations such as International Confex’s and its growing portfolio of advanced AR solutions, the company looks set to continue the revenue growth trajectory through 2021.

For more information, visit the company’s website at www.NextechAR.com.

NOTE TO INVESTORS: The latest news and updates relating to NEXCF are available in the company’s newsroom at https://ibn.fm/NEXCF 

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