Nextech AR Solutions is a provider of AR solutions and an ecommerce company. Nextech provides customers with critical functionality needed to provide 3D and AR immersive experiences as opposed to experiences in 2D formats. These solutions can be used across many verticals and are currently being utilized in e-commerce, virtual events, learning and training, digital advertising, and entertainment. Nextech AR Solutions' product and service offerings allow its customers to deliver photo-realistic, volumetric 3D and AR at scale for mass adoption. With the Company’s ARitize360 application, Nextech AR Solutions further provides the ability to anyone with a smartphone to capture and create 3D objects.
Nextech AR Solutions can be utilized across a vast number of market segments and verticals. The initial primary markets targeted are retail, consumer brands, education, and entertainment. As the Company’s technology has been adopted, Nextech AR Solutions has several enduring use cases that have pointed to further market segments including virtual and hybrid events, consumer packaged goods, education and training, telemedicine, professional speakers & authors, political candidates, faith groups, medical, health & wellness.
In 2020, Nextech generated $17.69 Million CAD in revenue, a growth of more than 300% over 2019 revenue of $4 Million CAD in revenue.
In the first half of 2021, Nextech AR Solutions generated $13.8 Million CAD in Revenue, 130% growth over the first half of 2020 revenue of $6 Million CAD.
A revenue of $6.1 million for the 3 months ended June 30th, 2021 led to an increase of over 73% compared to the three months ended on June 30th, 2020 of $3.5 million.
Gross profit for the three months ended on June 30th, 2021 is $2.3 million, an increase of over 6% compared to the three months ended on June 30, 2020, with $2.2 million.
As of October 2021, Nextech’s market capitalization is approximately $144 million.
Nextech has approximately 240 employees.
Nextech sells solutions in North America, Europe, Middle East, and the Asia-Pacific and Japan regions with a continuous geographic expansion plan in place.
Nextech was founded in 2018 by Evan Gappelberg.
Approximately 85,573,064 stocks are outstanding.
Nextech is currently taking the necessary steps in order to meet its goal to list on U.S. exchanges, including NASDAQ. In September of 2021, Nextech hired Marcum LLP, an experienced U.S. auditor, in order to better align with the Company’s U.S. exchange uplisting goal.
Nextech is also taking additional steps in order to prepare for U.S. stock exchange uplisting, such as the building out of a more robust investor relations program.