Nextech3D.ai Lands
$1.8 Million 3D Modeling Deal with NASDAQ 100 Technology
Company
TORONTO, ON, Canada
-- February 13, 2024 -- InvestorsHub NewsWire
-- Nextech3D.AI
(OTCQX:
NEXCF) (CSE:
NTAR) (FSE: 1SS), a Generative AI-Powered 3D model supplier for
Amazon, P&G, Kohls and other major e-commerce retailers is
thrilled to announce a significant $1.8 million 3D modeling
contract with with a major enterprise client. This deal provides
significant revenue for the Company to be delivered in 2024, and
showcases Nextech3D.ai's position as an industry leader for 3D
modeling in the
$6.3 trillion e-commerce market.[1]
Nextech3D.ai
CEO Evan Gappelberg commented, "Nextech3D.ai has been at the
forefront of the massive shift from 2D static images to 3D
immersive experiences, utilizing augmented reality and cutting-edge
generative AI technology to create photo-realistic 4K 3D models
that cater to the specific needs of major e-commerce companies.
Nextech3D.ai is seeing demand from around the globe and is
currently negotiating with three additional enterprise clients that
are in the six and seven figure range." He continueD, "This $1.8
million deal is not just a testament to Nextech3D.ai's
technological prowess but also to the rapidly growing importance of
3D modeling in e-commerce, and demonstrates the scalability and
adaptability of Nextech3D.ai's technology. We are focused on large
enterprise deals in an effort to ramp up our revenue base and
solidify Nextech3D.ai's position as a leader in the field of 3D and
AI for e-commerce."
New AI-Powered 3D Model Search Tool
Last month,
the Company announced it had gone live with its proprietary
AI-Powered 3D model search engine. This
advanced search engine integrates AI and computer vision
technologies to refine and expedite the process of 3D modeling.
With this groundbreaking AI-powered technology, the Company will
enhance and quicken its internal 3D model creation workflow
significantly. Additionally, Nextech3D.ai plans to release this
search engine for public use, potentially leading to substantial
increases in revenue and profits by licensing the AI technology to
others.
This new
AI-powered 3D model search engine
provides 500% increase in 3D modeling
productivity. This
report was based upon research of Nextech3D.ai's own internal usage
of thousands of searches over several weeks, and
significantly
impacts and increases the scalability and profitability of the
production of 3D models.
2023 Financial Results
The Company
also recently
reported its unaudited financial and operating results for the full
year 2023, ended
December 31, 2023. These preliminary results show
strong
annual revenue growth of +56% to $5 million compared to $3.2
million in 2022. Annual
gross profit margin for 2024 is estimated at 30% which with the
Company's pivot to India in Q4, 2023 and improvements in its
AI-powered 3D modeling technology is projected to increase
dramatically in 2024.
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About
Nextech3D.ai
Nextech3D.ai or the
"Company," (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS), is a versatile
augmented reality and AI technology company that utilizes its
proprietary artificial intelligence (AI) to craft immersive 3D
experiences at scale for E-COMMERCE. The Company's primary focus
lies in creating high-quality 3D WebAR photorealistic models for
Amazon and various other online retailers. Nextech3D.ai has adopted
a unique approach to creating shareholder value beyond its
operating business of creating 3D models.
The Company also develops
or acquires disruptive AI-technologies, which are subsequently spun
out to shareholders as standalone public companies. This spin-out
strategy allows Nextech3D.ai to issue stock dividends to its
shareholders while maintaining significant ownership in the public
spin-out, without dilution to the parent company
Nextech3D.ai.
Notably, Nextech3D.ai
successfully spun out "ARway," (OTCQB: ARWYF | CSE: ARWY | FSE:E65
) its spatial computing platform, as a standalone public company on
October 26, 2022. The Company retains a 49% stake with 13 million
shares in ARway Corp. while distributing 4 million shares to
Nextech shareholders.
Similarly, Nextech3D.ai
accomplished its second spin-out launching Toggle3D.ai, (OTCQB:
TGGLF | CSE: TGGL | FSE: Q0C ) an AI-powered 3D design studio aimed
at competing with Adobe. The Company retains a 44% stake with 13
million shares in Toggle3D.ai Corp.
To learn more, please
follow us on Twitter, YouTube, Instagram, LinkedIn,
and Facebook,
or visit our website: https://www.Nextechar.com.
For
further information, please contact:
Investor Relations
Contact
Julia Viola
investor.relations@nextechar.com
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.
