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Nextech Ar Solutions Corp
CNSX:NTAR

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Nextech Ar Solutions Corp
CNSX:NTAR
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Price: 0.165 CAD -5.71% Market Closed
Market Cap: 36.2m CAD

Nextech Ar Solutions Corp
Investor Relations

NexTech AR Solutions Corp. develops and operates augmented reality advertising platform. The company is headquartered in Toronto, Ontario. The company went IPO on 2018-10-31. Its technology stack includes the various products, including ARitize360 App, ARitize App, ARitize for eCommerce, AR 3D Ads, AR for Higher Education, HoloX, Map Dynamics, LiveX, Genie in a Bottle, and Threedy.ai. The ARitize360 App is a mobile application available for Android and iOS devices that enables users to use their smartphone to scan a real-world object and transform it into a photo-realistic three-dimensional (3D) model for use with the other components of Company’s technology. Its ARitize for eCommerce is an end-to-end AR platform which allows the user to engage, convert and drive sales for brands, distributors, and ecommerce vendors. The Company’s AR 3D Ad unit is an HTML5 banner advertising.

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NTAR
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Last Earnings Call
Fiscal Period
Q2 2023
Call Date
Aug 22, 2023
AI Summary
Q2 2023

Revenue Growth: Q2 revenue was $1.4 million, up 8% from Q1 and up 155% year-over-year, with 3D modeling driving most of the increase.

Amazon Dominance: Amazon accounted for about 49% of year-to-date revenue, and demand from Amazon and other enterprise clients is rising.

3D Modeling Momentum: 3D modeling revenue is up over 460% year-to-date, and management sees accelerating demand in Q3 and Q4.

Profitability Focus: Monthly cash burn reduced to $300,000, and leadership expects to reach breakeven and then positive cash flow as revenue ramps up.

Gross Margins: Gross profit margin remained near 40%, with expectations for margin improvement as AI is further integrated into production.

Capital Raise: The company raised $2.2 million post quarter-end and believes it has sufficient capital for at least the next 12 months.

NASDAQ Uplisting: Application is in progress, with no current decision on a reverse stock split.

Business Outlook: Management expects strong growth to continue, driven by technology improvements, new contracts, and expanding enterprise relationships.

Key Financials
Revenue
$1.4 million
3D Modeling Revenue (Q2)
close to $1 million
3D Modeling Revenue (YTD)
$2 million
Gross Profit Margin
near 40%
Operating Expenses
$6.5 million
Net Loss from Continuing Operations
$6.6 million
Net Loss Per Share
$0.06 per quarter
Cash Balance (as of June 30, 2023)
$3.8 million
Capital Raised (July 2023)
$2.2 million
Employee Shares for Services Compensation Plan (YTD)
$2.3 million
Employee Shares for Services Compensation Plan (Q2)
$700,000
Amazon Revenue Contribution (YTD)
49%
Monthly Cash Burn
$300,000
Earnings Call Recording
Other Earnings Calls
2022

Management

Mr. Evan Gappelberg
Founder, CEO & Chairman
No Bio Available

Contacts

Address
ONTARIO
TORONTO
121 Richmond Street West, 750 West Pender Street
Contacts
+16316556733.0
www.nextechar.com