Nextech3D.ai Announces New Production Record Having Delivered More Than 50,000 3D Models

Rhea-AI Summary

Nextech3D.AI (NEXCF) has reported a significant surge in 3D model demand, delivering over 50,000 3D models to major e-commerce retailers. The company's preliminary Q2 2023 revenue saw a 155% increase to $1.4 million, and Q3 is expected to reach $1.7-$1.9 million, reflecting a 200% year-over-year growth. Nextech3D.AI is leveraging Generative AI technology to cater to the growing demand for immersive shopping experiences, with a focus on Amazon and other major e-commerce giants. The company's recent breakthrough in text to 3D material creation is expected to drive its dominance in the $100 billion 3D models for e-commerce market over the next decade.

Company is experiencing accelerating 3D Model Demand in Q3,2023

Join Proactive News & CEO Evan Gappelberg for an Investor Livestream TODAY at 12 p.m ET / 9 a.m PT

TORONTO, ON / ACCESSWIRE / August 9, 2023 / Nextech3D.AI (formerly "Nextech AR Solutions Corp'' or the "Company") (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers has just surpassed a major milestone having delivered more than 50,000 3D models to its satisfied customers. This remarkable achievement reflects a notable surge in both production and demand throughout 2023, driving the Company to report record-breaking preliminary results of $1.4mill +155% in the second quarter of 2023, and to forecast $1.7-$1.9mill in Q3 + 200% YoY. This positive outlook is driven by the accelerating demand for their state-of-the-art solutions.

Nextech3D.AI is at the forefront of the massive and growing 3D modeling industry, utilizing cutting-edge Generative AI technology to create photo-realistic 4K 3D models that cater to the specific needs of major e-commerce giants including Amazon and others. It's estimated that ecommerce is a $5.5trillion dollar global industry and that Amazon alone has over 300 mill products. To date total 3D models converted is still <1% of the total leaving massive room for growth in the years to come. Due to a strong ROI on 3D models the Company has been seeing a growing market appetite for immersive and interactive shopping experiences, now in Q3, demand is starting to rapidly accelerate.

Evan Gappelberg, CEO and Founder of Nextech3D.ai commented, "We are thrilled to have achieved this significant milestone of delivering over 50,000 3D models to our valued clients. The accelerating demand for our immersive 3D models is a testament to our commitment to Generative AI innovation and exceptional customer satisfaction. Nextech3D.AI remains committed to providing exceptional services to its growing and diverse clients including the e-commerce giant Amazon, while embracing advanced Generative AI technology to stay ahead in the ever-evolving e-commerce landscape. With a strong focus on AI powered innovation and customer satisfaction, the Company is poised to achieve its goal of becoming the dominant 3D modeling company."

Recently, the Company announced it had achieved a major breakthrough in generative AI technology that facilitates the generation of 3D materials from text prompts. This breakthrough in text to 3D material creation is key in driving the company forward in its quest to be the dominant 3D model supplier for the ecommerce industry. The 3D models for e-commerce TAM are estimated to be worth $100 billion over the next decade.

Investor Livestream Details

JOIN US: Today, Wednesday, August 9, 2023

TOPIC: How is Generative AI Driving Record 3D Model Production + Record Demand

Time: 12:00 p.m ET / 9:00 a.m PT

Presenter: Evan Gappelberg (Founder and CEO)

Link to join: https://www.youtube.com/live/df64TM1sPZg

Recent Press Releases

• Nextech3D.ai Provides Earnings Call Details for Q2 2023 Financial Results August 22nd
• Nextech3D.ai Reports Record Preliminary Q2 Revenue Up +155% To $1.4Mill & Guides Towards Breakout Q3 Revenue +200% of $1.7Mill - $1.9Mill Amid Surging 3D Model Demand
• Nextech3D.ai Releases Episode 4 of the Public Company CEO Experience Podcast Discussing Artificial Intelligence & Its Impact on Society
• Nextech3D.ai Announces $2.2Million Expansion Contract From Its Largest Enterprise Customer Driving A Surge In 3D-Modeling Demand in Q3

About the Company:

Nextech3D.ai, formerly known as "Nextech AR Solutions Corp" or the "Company," (OTCQX:NEXCF) (CSE: NTAR) (FSE: EP2), 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) 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 AR shareholders.

Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTC: TGGLF | CSE: TGGL) 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
Lindsay Betts
investor.relations@Nextechar.com
866-ARITIZE (274-8493) Ext 7201

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.

SOURCE: Nextech3D.ai

View source version on accesswire.com:
https://www.accesswire.com/773123/Nextech3Dai-Announces-New-Production-Record-Having-Delivered-More-Than-50000-3D-Models

FAQ

What is the recent milestone achieved by Nextech3D.AI?

Nextech3D.AI has delivered over 50,000 3D models to major e-commerce retailers, indicating a notable surge in production and demand.

What are the financial results for Nextech3D.AI in Q2 2023?

The company reported a record-breaking preliminary revenue of $1.4 million, marking a 155% increase from the previous year.

What is the revenue forecast for Nextech3D.AI in Q3 2023?

Nextech3D.AI expects a revenue of $1.7-$1.9 million in Q3 2023, reflecting a 200% year-over-year growth.

How is Nextech3D.AI utilizing Generative AI technology?

The company is leveraging Generative AI technology to create photo-realistic 4K 3D models for major e-commerce giants, focusing on immersive shopping experiences.

What is the significance of Nextech3D.AI's recent breakthrough in text to 3D material creation?

The breakthrough is expected to drive the company's dominance in the $100 billion 3D models for e-commerce market over the next decade.