Nextech3D.ai Reports Record Preliminary Q2 Revenue Up +155% To $1.4Mill & Guides Towards Breakout Q3 Revenue +200% of $1.7Mill - $1.9Mill Amid Surging 3D Model Demand
Martech Outlook | Tuesday, August 01, 2023
Generative AI Positions Company For Breakout Revenue Growth in 2023
Generative AI Driving Exponential Growth For Web3.0 Portfolio of Technologies for Ecommerce
AI is Enabling Scaling of 3D Model Production
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
Join Proactive News & CEO Evan Gappelberg for an Investor Livestream TODAY at 12 p.m ET / 9 a.m PT
TORONTO, O.N, Canada - Nextech3D.AI (formerly “Nextech AR Solutions Corp'' or the “Company”) (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 announce its preliminary unaudited financial and operating results for its second quarter ended June 30, 2023.
Preliminary Q2 2023 Financial Highlights:
● Revenue for Q2 2023 was $1.4 million, up +155% compared to 2022;
● Revenue for 6-months ending June 30th, was $2.7 million up +157% compared to 2022;
● Gross profit remained consistent at 38%, contributing $1.1 million and $0.5 million year to date and for Q2, respectively;
● Gross margin is expected to increase to 40-50% next quarter, and increase in Q4 and 2024 as its AI takes over
Evan Gappelberg - CEO Commentary:
Nextech3D.ai CEO Evan Gappelberg comments” Our preliminary results for Q2 were impressive, as we achieved record sales of $1.4 million. However, what excites me even more is the exciting growth we are witnessing in our Q3 and Q4 orders. Based on the current order flow from Amazon, we are projecting a breakout Q3 quarter with revenue of at least $1.7 million, and we also anticipate an expansion in profit margins.” He continued, “We believe there is potential for the revenue to exceed $1.7 million as that is our conservative estimate for Q3. This quarter is expected to be the long-awaited turning point for our company. This belief is reinforced by the recent announcement of a significant expansion contract worth $2.2 million from Nextech3D.ai's largest customer, Amazon. This contract highlights the success of Nextech3D.ai's groundbreaking generative-AI technology, positioning the company as the 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."
More in News

