Stockwatch

Nextech3-D.AI Corp
Symbol	NTAR
Shares Issued	118,340,491
Close 2023-11-29	C$ 0.12
Market Cap	C$ 14,200,859
Recent Sedar Documents

Nextech3D.AI loses $5.76-million in Q3 2023

2023-11-29 16:22 ET - News Release

Subject: NTAR Word Document File: '\\swfile\EmailIn\20231129 125425 Attachment accesswire20231129--q3-earnings.docx' Nextech3D.ai Reports 2023 Third Quarter Earnings YTD Revenue up 97% Compared to Same Period Last Year TORONTO, O.N, Canada - November 29 , 2023 - Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is pleased to report its financial and operating results for its third quarter ended September 30, 2023. Please join Evan Gappelberg, Chief Executive Officer and Andrew Chan, Chief Financial Officer after the close today November 29, 2023 at 5:00 P.M. ET where Nextech3D.ai will host a conference call to discuss these financial results. Evan Gappelberg - CEO Commentary "We continue to build towards our future with solid year over year growth of +97% across our business. While I'm personally disappointed that we didn't see Amazon open seller central in Q3 and consequently our revenue spike, I'm also confident that it is in motion and likely to happen in Q1, 2024." He continued, "In the fast-evolving world of technology, adaptability is key to sustained success. Our investment in our AI library of 3D meshes or parts is setting us up for success in 2024. We are on the cusp of a significant breakthrough that promises to have a materially positive impact on our business in 2024 and beyond. As AI and 3D models continue to shape the future for e-commerce, we have positioned ourselves at the forefront of this transformative wave. We are ready to see results and capitalize on our AI capabilities in a pivotal way starting in Q1 2024." Highlights - 9 Months Ending Ending September 30, 2023: Year to date revenue +97% compared to same period last year; Q3 revenue +30% compared to same period last year; Gross profit year to date +18% compared to same period last year Delivery of 60,000+ 3D models to date Condensed Consolidated Interim Statements of Financial Position Condensed Consolidated Interim Statements of Comprehensive Loss Condensed Consolidated Interim Statements of Cash Flows Earnings Call Details: Title: Nextech3D.ai 2023 Third Quarter Earnings and Conference Call Call Date: Wednesday, November 29, 2023. Time: 5:00 PM (GMT-04:00) Eastern Time (US and Canada) Participant Details: Participant Toll-Free Dial-In Number: 1 (888) 330-2024 Participant Toll Dial-In Number: 1 (646) 960-0187 Conference ID: 7778367 Webcast Attendee URL: https://events.q4inc.com/attendee/498235428 For those unable to join the live event, a recording of the presentation will be posted on the Company's Investor Relations website. Sign up for Investor News and Info - Click Here About Nextech3D.ai Nextech3D.ai 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 | 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.