Mr. Evan Gappelberg reports

NEXTECH3D.AI REPORTS YTD REVENUE OF $2.9 MILLION AND AND GROSS PROFIT OF $1.88 MILLION, Q3 2024 REVENUE OF $756,476 WITH GROSS PROFIT MARGIN OF 71% OR $537,503

Nextech3D.AI Corp. has released its unaudited financial and operating results for its second quarter ended Sept. 30, 2024.

Financial performance:

• Revenue: $756,476;
• Gross profit margin: 71 per cent or $537,503.

Operational highlights

3-D modelling business: The company continues to innovate and push its artificial intelligence technology forward in its core 3-D modelling business, delivering thousands of high-quality 3-D models to its diverse customer base on a monthly basis.

Strategic initiatives

While it is struggling to gain momentum in its 3-D modelling business, it is continuing to invest in AI, notably, the Toggle Studio FOTOgpt.ai, which it is launching next month and into first quarter 2025.

Looking ahead at the business opportunities into 2025:

• 3-D modelling business as evident by the third quarter numbers released today: 3-D modelling business continues to struggle to gain momentum as more competition has come to market from all over the world; while the company continues to work with Amazon, as one of the certified 3-D model suppliers for the Amazon platform, it is cautiously optimistic about future demand from Amazon;
• Toggle Studio, of which Nextech owns 13 million shares, continues to build its AI studio for both 2-D and 3-D applications, notably, its new AI photography studio FOTOgpt.ai; the company believes that this has significant growth potential, which is launching in December, 2024;
• ARway.ai, of which Nextech owns 15 million shares, continues to generate significant revenue and cash flow primarily through its mapping software; this business which has been around for almost two decades is continuing to build its new capabilities with new AI features that the company believes will ignite sales.

About Nextech3D.AI Corp.

Nextech3D.AI is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence to craft immersive 3-D experiences at scale for manufacturers with CAD files and for e-commerce merchants. The company's primary focus lies in creating high-quality 3-D WebAR photorealistic models for Amazon and various other on-line retailers with patented 2-D-3-D technology.

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