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Nextech AR Solutions Corp
Symbol NTAR
Shares Issued 63,427,300
Close 2020-06-25 C$ 3.73
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Nextech AR adds JWT to Fastly's cloud platform

2020-06-25 07:56 ET - News Release

Mr. Evan Gappelberg reports

NEXTECH AR AND FASTLY PARTNERSHIP ACHIEVES BREAKTHROUGH IN ENTERPRISE VIDEO SECURITY

With the help of Fastly, a global edge cloud platform, Nextech AR Solutions Corp. has achieved a breakthrough in enterprise video security. Its implementation of JWT with Fastly brings token authentication to the edge greatly enhancing security and performance.

Scott Bishop of Fastly comments: "We were happy to work with NexTech AR Inferno's team in bringing their JWT authentication to the edge. Our platform's design allows us to compute at the edge and authenticating JWT at this stage is exactly the kind of use case we envisioned. Computing these at the edge enhances both InfernoAR's security as well as performance. What we have achieved with InfernoAR is fantastic."

InfernoAR chief technology officer Mark Pace comments: "We are always looking at ways to enhance security. That we were able to push authentication to the edge to not only increase security, but also performance is a huge win. With the assistance of Fastly we were able to edge compute JWT putting the first line of defence as close to the user as possible."

Evan Gappelberg, chief executive officer, Nextech AR, noted, "InfernoAR is a category killer product for Nextech." He continues: "InfernoAR is the world's most advanced SaaS AR video conferencing and video learning experience platform for events that is loaded with features including interactive video, artificial intelligence and augmented reality all in one supersecure platform allowing enterprises the ability to create the world's most engaging virtual event management and learning experiences with the added knowledge that their data is secure. With automated closed captions and translations to over 64 languages, InfernoAR is in a class by itself."

As Fastly continues to offer more edge compute services, Pace sees InfernoAR moving additional features to the edge. Functions such as playlist rewriting, used to service iOS devices, can be moved to the edge further enhancing performance. "I'm looking forward to moving more of our basic services to the edge to remove load from the core to add more reliability and reduce latency as we move all of these closer to the user."

Security is a core feature of InfernoAR -- the platform services many Fortune 500 businesses. Token authentication allows the CDNs to reject serving videos to unauthorized users, by taking the JWT authentication to the edge security is pushed closer to the user and load is taken off the core application.

About InfernoAR

InfernoAR supports clients that require integration with enterprise systems, custom workflow, cognitive search and discovery, interactive features and secure multi-CDN streaming in front of and behind the firewall. InfernoAR has been providing top products and service in the video streaming space for over 10 years.

Recent company highlights in 2020

  • June 22, 2020: signed a one-year contract to provide its InfernoAR virtual events video conferencing platform services to Real Asset Media. The initial contract value is for $135,000 with the potential for substantial additional revenue as augmented reality use cases emerge.
  • June 19, 2020: Nextech closed a private placement of 1,528,036 units priced at the market price of $2.10 per unit for gross proceeds of $3,208,875. This financing provides the company with a healthy cash and inventory position of over $7.5-million -- its highest ever.
  • June 18, 2020: company announces that it has signed a partner supplier agreement with BDA LLC. BDA Sports will be using the InfernoAR virtual event platform for its signature annual Think Tank 2020 program for teams in the National Hockey League, National Basketball Association, Major League Baseball and National Football League.
  • June 10, 2020: company signed a partner agreement and contract to provide its InfernoAR virtual events platform services to Skybridge World Dubai clients. Skybridge is a leading events, exhibition and marketing solutions provider to global corporations whose clients include Emirates Glass, IBM, Lilly, Henkel, Amgen and many others. Nextech and Skybridge have already solidified their partnership and signed up their first customer, Bohringer Ingelheim.
  • June 4, 2020: The company launched its new ARitize360 app now live and available for a free download on both iOS and Android. The app's 3-D scan technology will add to the revenue-generating power of its AR e-commerce solution and its recently launched 3-D/AR advertising platform.
  • June 3, 2020: The company achieved record revenue and gross profit for the month of May, 2020. Both revenue and gross profit showed dramatic increases in May. Notably, compared with May, 2019, the company's revenue increased 169 per cent to $1.3-million while gross profit grew 290 per cent to $800,000 representing the highest revenue and gross profit ever achieved in a single month.
  • June 1, 2020: Chief executive officer Evan Gappelberg purchased 100,000 shares. It was reported that on May 5, 2020, he purchased 929,885 common shares of Nextech common stock, this is his fourth buy for the year 2020.
  • May 25, 2020: signed a contract to supply its augmented reality solutions to a $30-billion market capital, publicly traded global technology company.
  • May 22, 2020: The company announced very positive results for its recently launched 3-D/AR ad network which went live on Feb. 4, 2020. Using the company's 3-D/AR ads resulted in a 300-per-cent increase in sales conversions, a 32-per-cent increase in click-through rate (CTR) and a 23-per-cent-lower cost per click than traditional 2-D ads.
  • May 21, 2020: InfernoAR virtual events platform chosen to supply a $13-billion capital, publicly traded global insurance company, for its global leadership two-day summit starting June 6.
  • May 19, 2020: Inferno AR integration with Cvent Solutions optimizing the entire InfernoAR event management value chain. Integration with CVENT will broaden the utility and increase the appeal of the platform by helping end-users seamlessly register and become more productive while using the platform.
  • May 14, 2020: Q1 revenue grows 177 per cent to $2.5-million, gross profit grows 267 per cent to $1.3-million, working capital of $3.5-million.
  • May 12, 2020: InfernoAR platform integration with all major video platforms including its previously announced integration with Zoom, Microsoft Teams, Skype, and new integrations with Cisco Webex, BlueJeans, Google Hangouts, Google Meet, and GoToMeetings. These critical integrations continue to extend the capabilities of the platform, broaden the utility of the platform and help end-users become even more productive while using the platform.

About Nextech AR Solutions Corp.

Nextech is one of the leaders in the rapidly growing AR (augmented reality) industry, estimated to hit $120-billion by 2022, according to Statista. Nextech, the first publicly traded pure play AR company, began trading on the Canadian Securities Exchange on Oct. 31, 2018. Nextech has a two-pronged strategy for rapid growth including growth through acquisition of e-commerce businesses and growth of its omnichannel AR SaaS (software-as-a-service) platform called ARitize.

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