NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE:
N29), an emerging leader in augmented reality for eCommerce, AR
learning applications, AR-enhanced video conferencing and virtual
events is pleased to announce that its recently launched
augmented reality solution for video ‘ScreenAR’ has generated over
$100,000 in sales in its first month and is gaining great momentum.
‘ScreenAR’ has been seamlessly integrated into the InfernoAR
platform and uses the company's ARitize technology. With the
integration of its augmented reality solutions into its video
conferencing events platform InfernoAR, NexTech has created a
unique suite of product offerings that helps companies drive their
digital transformation. With the rapid rollout and adoption of
‘ScreenAR’ the company has dramatically expanded its AR revenue
generating power and is now becoming the de facto video
conferencing industry standard.
SEE DEMO VIDEO HERE
The recently announced contract with Ryerson
university for AR labs valued at $250,000 plus the recent surge in
orders for ScreenAR bringing in over $100,000 and growing positions
at the company at the enviable intersection of the digital
transformation of everything, setting the stage for exponential
growth in AR revenue going forward. To meet this rapidly growing
market demand the company is dramatically expanding its AR division
of expert 3D modelers, highly experienced Unity developers as well
as talented UI/UX designers. In addition, the company has appointed
Dawsyn Borland as Head of its new AR Labs to prepare for the highly
anticipated rollout of AR glasses as well as to continue to develop
and innovate AR for eCommerce, ScreenAR, AR Labs, WebAR, 3D/AR
Advertising, all of which are key parts of the company's ongoing
drive to develop its ecosystem of revenue generating AR
solutions.
Evan Gappelberg, Chief Executive Officer, NexTech
AR noted, “Due to the insatiable demand of InfernoAR, the surging
demand for our AR products and continued growth in our AR eCommerce
we are on target to have a record breaking Q3. With our growing
sales force, pipeline of deals and quotes I’m estimating that we
hit $5million in revenue for Q3, which almost equals our entire
year's revenue in 2019 of $6 million. Due to our diverse product
offerings we are seeing adoption of our products and services
across a wide spectrum of customers; including Universities, Faith
based organizations, Fortune 1000 corporate giants and virtual
conferences." He continues, “With our innovative AR technology
solutions we firmly believe that NexTech has a competitive edge in
the market and that ‘ScreenAR’ will only accelerate the massive
adoption already underway of our InfernoAR software. Our customers
believe that video combined with the immersive nature of AR puts us
head and shoulders above the other video conferencing platforms out
there, and are choosing our platform because of it.”
Paul Duffy, President of NexTech states, “Demand
continues to soar for our unique offer of Virtual events with
Augmented Reality through InfernoAR. Our clients find that they are
able to literally augment their existing 2D presentations with 3D
photorealistic immersive storytelling, leading to every manner of
event utilizing our augmented reality through ScreenAR, 360 AR
Portals and other forms of interactive AR experiences."
Duffy continues, “as an example we now deliver
global product launches that reach thousands of retail distributors
and tens-of-thousands of customers through InfernoAR, bringing
holographic products direct to the user from the comfort and safety
of their home. This is transforming how brands are able to interact
with their customers and supply chains during the reality of
COVID.”
Recent Company Highlights in
2020:
August 27, 2020: Carnegie Mellon
University has chosen NexTech’s InfernoAR platform for a virtual
series beginning September 2020.
August 25, 2020 Q2 2020
highlights:
- Revenue grows 290% to $3.5 million
- Gross Profit grows 484% to $2.1 million with a 61% margin
- Working Capital of $5.6 million
- Total Bookings $3.7 million
August 11, 2020: Company announced
that it has begun a major expansion of its AR eCommerce business.
In the past 60 days the company has signed new distributor deals
with major brands such as; Dyson, Philips Norelco, MR. Coffee,
VitaMix, MetroVac, Breviel, and Cusinart. These new distribution
deals position the company to take full advantage of the new SFH
(shop from home) paradigm shift in e-commerce as well as leverage
its full augmented reality technology stack into these brands,
which includes its WebAR, ARitize360 app and its 3D/AR advertising
network. The company expects these new products to have a
significant impact on future revenues.
July 30, 2020: Ryerson
University, a globally recognized leader in Higher Education with
over 46,000 students have partnered to launch RALE, the Ryerson
Augmented Learning Experience platform, based on NexTech’s
InfernoAR. The technology license agreement has an initial value of
$250,000 with the potential for more revenue tied to additional AR
services.
July 17, 2020: The company
launched a new immersive video conferencing software called
ScreenAR.
July 13, 2020: The company is
launching a new video conferencing software into its InfernoAR
platform (September 2020). The new video conferencing features will
integrate collaborative classroom learning, one to one networking
and traditional video conferencing directly into the platform
letting users seamlessly launch and manage both collaborative
experiences and large audience events directly from InfernoAR.
July 8, 2020: The company is
pleased to announce that it has filed to uplist its stock to the
Nasdaq Capital Market.
July 2, 2020: Hired Arnaud Amet as
Director of Sales for Europe. Mr. Amet situated in Paris,
France comes from regional and global sales and marketing roles in
Microsoft (MSFT) where he worked for over a decade ending in 2015.
He also has significant experience with his own startup in sales
and marketing of AR/VR to large brands partnering with Facebook
(FB), Huawei and Microsoft.
June 18, 2020: Company announces
that it has signed a partner supplier agreement with BDA, LLC. BDA
Sports will be using the InfernoAR virtual event platform for their
signature annual Think Tank 2020 program for teams in NHL,
NBA, MLB, and NFL.
June 10, 2020: Company signed a
partner agreement and contract to provide its InfernoAR Virtual
Events platform services to Skybridge World Dubai clients.
Skybridge is a leading events, exhibition and marketing solutions
provider to global corporations whose clients include: Emirates
Glass, IBM, Lilly, Henkel, Amgen and many others. NexTech and
Skybridge have already solidified their partnership and signed up
their first customer, Bohringer Ingelheim.
June 4, 2020: The company launched
its new ARitize360 app now live and available for a FREE download
on both iOS and Android. The app's 3D scan technology will add to
the revenue-generating power of its AR eCommerce solution and its
recently launched 3D/AR advertising platform.
June 1, 2020: CEO Evan Gappelberg
purchased 100,000 shares. It was reported that on 5/5/2020 he
purchased 929,885 common shares of NexTech common stock, this is
his fourth buy for the year 2020.
May 22, 2020: The company
announced very positive results for its recently launched 3D/AR Ad
Network which went live on February 4th 2020. Using the company’s
3D/AR ads resulted in a 300% increase in sales conversions, a 32%
increase in click-through-rate (CTR) and a 23% lower cost per click
than traditional 2D ads.
May 14, 2020: Q1 Revenue grows
177% to $2.5 million, Gross Profit grows 267% to $1.3 million,
Working Capital of $3.5 million.
May 12, 2020: InfernoAR platform
integration with all major video platforms including its previously
announced integration with Zoom, Microsoft Teams, Skype, and new
integrations with Cisco Webex, BlueJeans, Google Hangouts, Google
Meet, and GoToMeetings. These critical integrations continue to
extend the capabilities of the platform, broaden the utility of the
platform and help end-users become even more productive while using
the platform.
About NexTech ARNexTech is one of
the leaders in the rapidly growing Augmented Reality
market estimated to grow from USD $10.7B in 2019 and
projected to reach USD $72.7B by 2024 according to Markets &
Markets Research; it is expected to grow at a CAGR of 46.6% from
2019 to 2024.
The company is pursuing four
verticals:
InfernoAR: An advanced
Augmented Reality and Video Learning Experience Platform for
Events, is a SaaS video platform that integrates Interactive Video,
Artificial Intelligence and Augmented Reality in one secure
platform to allow enterprises the ability to create the world’s
most engaging virtual event management and learning experiences.
Automated closed captions and translations to over 64 languages.
According to Grandview Research the global virtual events market in
2020 is $90B and expected to reach more than $400B by 2027, growing
at a 23% CAGR. With NexTech’s InfernoAR platform having augmented
reality, AI, end-to-end encryption and built in language
translation for 64 languages, the company is well positioned to
rapidly take market share as the growth accelerates globally.
ARitize™ For eCommerce: The
company launched its SaaS platform for webAR in eCommerce early in
2019. NexTech has a ‘full funnel’ end-to-end eCommerce solution
for the AR industry including its Aritize360 app for 3D product
capture, 3D/AR ads, its Aritize white label app it’s ‘Try it On’
technology for online apparel, 3D and 360-degree product views, and
‘one click buy’.
ARitize™ 3D/AR Advertising
Platform: Launched in Q1 2020 the ad platform will be the
industry's first end-to-end solution whereby the company will
leverage its 3D asset creation into 3D/AR ads. In 2019, according
to IDC, global advertising spend will be about $725 billion.
ARitize™ Hollywood Studios: The
studio is in development producing immersive content using 360
video, and augmented reality as the primary display platform.
To learn more, please follow us on Twitter,
YouTube, Instagram, LinkedIn, and Facebook, or visit our website:
https://www.nextechar.com.
On behalf of the Board of NexTech AR
Solutions Corp. “Evan Gappelberg” CEO and Director
For further information, please contact:
Evan GappelbergChief Executive
Officerinfo@nextechar.com
The CSE has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute
“forward-looking information” under Canadian securities
legislation. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as, “will
be”, “looking forward” or variations of such words and phrases or
statements that certain actions, events or results “will” occur.
Forward-looking statements regarding the Company increasing
investors awareness are based on the Company’s estimates and are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, levels of activity, performance
or achievements of NexTech to be materially different from those
expressed or implied by such forward-looking statements or
forward-looking information, including capital expenditures and
other costs. There can be no assurance that such statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. NexTech
will not update any forward-looking statements or forward-looking
information that are incorporated by reference herein, except as
required by applicable securities laws.
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