Nextech AR Solutions (OTCQB: NEXCF) (NEO: NTAR) (CSE: NTAR) (FSE: N29) has announced preliminary financial and operating results for Q1 2021, the period ending March 31, 2021. The report is highlighted by the company’s revenue numbers, which are estimated at around $7.5 million, which represents a 200% increase compared to the $2.5 million reported in the same period last year. Gross profit was also up more than 200%, totaling approximately $4.3 million compared to the same period last year; the company also reported total bookings of $2.2 million. The announcement also noted that the company would be holding its investor day today. Individuals who are interested in attending are encouraged to register and download the AirShow app in advance; the app is available on the Apple app store and Google Play store. The company will also make an archived copy of the event available on its website. “We are unique in that we are diversified with four fast-growing businesses which all have a red thread of augmented reality connecting them, creating a major product differentiation and competitive advantage,” said Nextech CEO and director Evan Gappelberg in the press release. “We are strategically positioned with our augmented reality, eCommerce and InfernoAR video conferencing and virtual experience business units to thrive in this new economy being led by a digital transformation across technology. There has never been more business opportunity in our lifetime for augmented reality, virtual learning, virtual conferences, or virtual events and eCommerce, and we see strong business trends continuing in Q2 and beyond.”
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About Nextech AR Solutions Corp.
Nextech develops and operates augmented reality (“AR”) platforms that transports three-dimensional (“3D”) product visualizations, human holograms and 360° portals to its audiences altering e-commerce, digital advertising, hybrid virtual events (events held in a digital format blended with in-person attendance) and learning and training experiences. Nextech focuses on developing AR solutions. However, most of the company’s revenues are derived from three e-commerce platforms: vacuumcleanermarket.com (“VCM”), infinitepetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”). VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon. For more information about the company, please visit www.NextechAR.com.
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