Nextech AR Solutions (CSE: NTAR) (NEO: NTAR) (FSE: N29) (OTCQB: NEXCF), a developer and operator of augmented reality (“AR”) platforms, has released its financial and operating results for Q4 and fiscal year ending Dec. 31, 2020. Highlights from the report include several significant financial achievements, including revenue for the period reaching $17.7 million, an increase of 342% when compared to the period ended Dec. 31, 2019. In addition, the company reported gross profit of $9.9 million, an increase of 320% compared to the period ended Dec. 31, 2019. In addition, Nextech also reported $13.6 working capital. The company’s audited financial statements for the year and its MD&A are available on the company website and are filed on SEDAR.
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About Nextech AR Solutions Corp.
Nextech develops and operates augmented reality (“AR”) platforms that transport three-dimensional (“3D”) product visualizations, human holograms and 360-degree 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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