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Nextech AR Solutions Corp
Symbol NTAR
Shares Issued 63,427,300
Close 2020-09-10 C$ 5.13
Recent Sedar Documents

Nextech AR approved as Microsoft partner

2020-09-11 07:24 ET - News Release

Mr. Evan Gappelberg reports

NEXTECH NOW APPROVED MICROSOFT PARTNER

Nextech AR Solutions Corp. is now an approved Microsoft partner creating enormous new business opportunity for the company. This partnership provides access to the Azure Marketplace so that InfernoAR can be sold directly through the marketplace.

The company is also working to become part of the Microsoft cross-sell program where Microsoft's sales reps will sell InfernoAR and be incentivized to do so by the Microsoft reps getting Azure sales credits whenever they sell the InfernoAR product.

Nextech is currently building new video conferencing features which will integrate collaborative classroom learning, one to one networking and traditional video conferencing directly into the InfernoAR platform letting users seamlessly launch and manage both collaborative experiences and large audience events directly from InfernoAR, once this is built it will be offered on-line in Azure. The company is also planning to move InfernoAR into Azure.

"With this Microsoft partner program Nextech AR continues to build momentum as it scales up customer wins and is at the forefront of making video conferencing and AR easy to implement and quickly accessible to everyone," states Evan Gappelberg, chief executive officer of Nextech AR.

"Nextech's industry-leading InfernoAR platform and end-to-end augmented reality solution along with our partnership with Microsoft and its huge unparalleled ecosystem brings Nextech AR deeper into the technology marketplace then ever before and provides us with an enormous opportunity for more customer wins."

Aug. 27, 2020:  Carnegie Mellon University has chosen Nextech's InfernoAR platform for a virtual series beginning September, 2020.

Aug. 25, 2020, Q2 2020 highlights:

  • Revenue grows 290 per cent to $3.5-million.
  • Gross profit grows 484 per cent to $2.1-million with a 61-per-cent margin.
  • Working capital of $5.6-million.
  • Total bookings of $3.7-million.

Aug. 11, 2020:  Company announced that it has begun a major expansion of its AR e-commerce business. In the past 60 days the company has signed new distributor deals with major brands such as Dyson, Philips Norelco, Mr. Coffee, VitaMix, MetroVac, Breviel and Cusinart. These new distribution deals position the company to take full advantage of the new SFH (shop-from-home) paradigm shift in e-commerce as well as leverage its full augmented reality technology stack into these brands, which includes its WebAR, ARitize360 app and its 3-D/AR advertising network. The company expects these new products to have a significant impact on future revenues.

July 30, 2020:  Ryerson University, a globally recognized leader in higher education with over 46,000 students, has partnered to launch RALE, the Ryerson Augmented Learning Experience platform, based on Nextech's InfernoAR. The technology licence agreement has an initial value of $250,000 with the potential for more revenue tied to additional AR services.

July 17, 2020:  The company launched a new immersive video conferencing software called ScreenAR.

July 13, 2020:  The company is launching a new video conferencing software into its InfernoAR platform (September, 2020). The new video conferencing features will integrate collaborative classroom learning, one-to-one networking and traditional video conferencing directly into the platform letting users seamlessly launch and manage both collaborative experiences and large audience events directly from InfernoAR.

July 8, 2020:  The company is pleased to announce that it has filed to uplist its stock to the Nasdaq Capital Market.

July 2, 2020:  Hired Arnaud Amet as director of sales for Europe. Mr. Amet, situated in Paris, France, comes from regional and global sales and marketing roles in Microsoft (MSFT) where he worked for over a decade ending in 2015. He also has significant experience with his own start-up in sales and marketing of AR/VR to large brands partnering with Facebook (FB), Huawei and Microsoft.

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 1, 2020:  Mr. Gappelberg purchased 100,000 shares. It was reported that on May 5, 2020, he purchased 929,885 common shares of Nextech common stock, his fourth buy for the year 2020.

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 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 augmented reality market estimated to grow from $10.7-billion (U.S.) in 2019 and projected to reach $72.7-billion (U.S.) by 2024 according to Markets & Markets Research; it is expected to grow at a compound annual growth rate of 46.6 per cent from 2019 to 2024.

The company is pursuing four verticals:

  • InfernoAR: An advanced augmented reality and video learning experience platform for events, is a software-as-a-service video platform that integrates interactive video, artificial intelligence and augmented reality in one secure platform to allow enterprises the ability to create the world's most engaging virtual event management and learning experiences. Automated closed captions and translations to over 64 languages. According to Grandview Research the global virtual events market in 2020 is $90-billion and expected to reach more than $400-billion by 2027, growing at a 23-per-cent CAGR. With Nextech's InfernoAR platform having augmented reality, AI, end-to-end encryption and built-in language translation for 64 languages, the company is well positioned to rapidly take market share as the growth accelerates globally.
  • ARitize for e-commerce: The company launched its SaaS platform for webAR in e-commerce early in 2019. Nextech has a full funnel end-to-end e-commerce solution for the AR industry including its ARitize360 app for 3-D product capture, 3-D/AR ads, its Aritize white label app, its try it on technology for on-line apparel, 3-D and 360-degree product views and one click buy.
  • ARitize 3-D/AR advertising platform: Launched in Q1 2020 the ad platform will be the industry's first end-to-end solution whereby the company will leverage its 3-D asset creation into 3-D/AR ads. In 2019, according to IDC, global advertising spend will be about $725-billion.
  • ARitize Hollywood Studios: The studio is in development producing immersive content using 360 video, and augmented reality as the primary display platform.

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