Nextech3D.ai (OTC:NEXCF) (CSE:NTAR) Reports +157% YTD Revenue Growth - 2023 Second Quarter Earnings
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 second quarter ended June 30, 2023. https://www.nextechar.com/press-relea...
Please join Evan Gappelberg, Chief Executive Officer and Andrew Chan, Chief Financial Officer after the close today August 22, 2023 at 5:00 P.M. ET where Nextech3D.ai will host a conference call to discuss these financial results.
Evan Gappelberg - CEO Commentary:
“Our results for Q2 were in line with our prelim numbers as we achieved record sales of $1.4 million +155% over Q2 2022. However, based on the current order flow from Amazon and others, we are projecting a breakout Q3 quarter with revenue of $1.7 million.” He continued, “In Q3 we are not only seeing our revenue accelerate but our focused team has been successful in reducing our burn down to a minimum level that I have not seen in years. I’m excited to report to our loyal shareholders that with contributions from increased revenue and shares for services on an unconsolidated basis, we’ve reduced Nextech3D.ai’s cash burn down to $300,000 which when combined with our recent capital raise, gives me the confidence in saying that we won’t need to raise additional capital for the next 12 months. Nextech3D.ai's groundbreaking generative-AI technology positions the Company as a leading AI solution globally for scaling 3D model production in the thriving e-commerce, gaming, and manufacturing industries. Furthermore, thanks to our latest funding round, our cash position is now robust enough to accommodate the increased demand we anticipate in the second half of 2023 and beyond."
Financial Statements
https://www.nextechar.com/hubfs/_Inve...
Unaudited Q2 2023 Financial Highlights:
Three month quarterly revenue up +155% compared to same period last year;
-Sequential quarterly revenue grew 8%
-Delivery of over 50,000 3D models to date
6 Months Ending Ending June 30, 2023:
-Year to date revenue up +157% compared to same period last year;
-Gross profit remained consistent at 39%
For further information, please contact:
Investor Relations Contact
Lindsay Betts
[email protected]
866-ARITIZE (274-8493) Ext 7201
Please visit the Nextech3D.ai Investor Website to learn more
https://www.nextechar.com/investors/o...