scoobey-do
14 hours ago
Nextech3D.AI Expands into Specialty Retail Ecommerce with The Largest Independent Crossbow Dealer in the USA, Wyvern Creations
TORONTO, O.N, Canada –July 2nd, 2024 - Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, Wesfarmers Group ``Bunnings'' and other major e-commerce retailers announces the expansion of its 3D business into the specialty retail e-commerce sector with the onboarding of our new customer, Wyvern Creations, in business for 18 years and now the largest independent crossbow dealer in the country intends to convert all its products into 3D models. The Company sees the 3D industry it operates in accelerating. As a pioneer in 3D and Augmented Reality (AR) technologies, the company is at the forefront of transforming the e-commerce landscape. As online shopping continues to evolve, Nextech3D.AI’s AI solutions are transforming how consumers interact with products, helping to drive a new era of immersive and interactive shopping experiences in ecommerce.
David Wilkins, owner of Wyvern Creations, comments “the response from our customers has been overwhelmingly positive towards the 3D AR supplied by Nextech3D.ai. With this 3D AR web-based shopping experience our online customers can view crossbows in their own home before purchasing, offering a significant enhancement over traditional web pages and reducing the need for physical store visits' '.David notes that the archery industry has been slow to adopt online purchasing. However, the integration of Nextech3D.AI’s advanced 3D imaging technology has greatly enhanced the online shopping experience for customers, providing Wyvern Creations with a competitive advantage.
Hareesh Achi Head of 3D Model Production Comments “We are proud to showcase the intricate details of crossbows using our advanced quad mesh technology, enabling Wyvern Creations to engage their customers on their website like never before. One of the key benefits of Nextech3D.AI's 3D modeling solutions is the ease of integration of 3D and AR assets on customer websites. David highlighted the seamless experience of integrating 3D assets on Wyvern's website, which enabled a quick launch of the 3D experience for their customers. Wyvern Creations offers a wide range of crossbows, and the use of 3D imaging allows their customers to visualize and compare products realistically, including innovative applications like a video game tie-in.”
Sample 3D asset integration on Wyvern website:
TenPoint TRX515 Crossbow | Wyvern Creations
TenPoint Siege 425 Crossbow | Wyvern Creations
Ravin R29X Crossbow Package – Wyvern Creations
Listen to some of the feedback on our customer Insights page:
Nextech3D.ai Reviews | Customer Testimonials (nextechar.com)
Nextech3D.AI, is continuously adding new industries and customers to its 3D modeling portfolio, expanding its customer base and pushing the boundaries of what is possible in online retail.
About Wyvern Creations
Wyvern Creations has been in business for 18 years, initially started as a home-based Internet business selling crossbows. Wyvern specializes in selling a variety of crossbows, scopes, arrows and broadheads.
Sign up for Investor News and Info - Click Here
For further information, please contact:
Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
https://mail.google.com/mail/u/0/?shva=1#inbox/FMfcgzQVxRHNfCKmfTpzZlKqbBDVTdWL
scoobey-do
4 weeks ago
Nextech3d.ai Sets New Standards with It’s AI-Driven Lifestyle Photography
TORONTO, O.N, Canada –June 6th, 2024 - Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, Wesfarmers Group ``Bunnings” (Australia’s largest listed company) and other major e-commerce retailers has been adding Digital Photography and dynamic product visuals as part of its 3D model offerings. Nextech3D.ai proudly announces a significant advancement in its AI-powered photography technology: the ability to create dynamic lifestyle images from 3D models or CAD files, representing a significant leap from 2D photography to 3D renders and photos. AI is transforming the virtual photography landscape for ecommerce, as the company is producing tens of thousands of 3D models annually it expects to produce hundreds of thousands of 3D model renders to its same customer base and expand with new customers. The company believes that its AI Photography with Advanced Lifestyle Image Creation is a large opportunity for revenue growth.
The company's advanced AI algorithms identify product categories and generate high-quality lifestyle images in just minutes.
Key advantages include:
• High-Quality Photography: No human error. Easily produces images in resolutions of 1K, 2K, 4K, and 8K.
• Faster Turnaround: Instant image generation accelerates project timelines.
• Cost Efficiency: up to 95% savings compared to traditional photoshoot expenses.
The ability to create solid backgrounds, gradient backgrounds, and lifestyle images with just a click streamlines the process of producing engaging, professional visuals. The transition from traditional 2D photography to 3D renders and photos is highly relevant in the e-commerce industry, where detailed and dynamic product images can significantly enhance consumer engagement and drive sales. NextechAR's commitment to innovation and excellence ensures that our customers receive the most advanced and efficient solutions in the industry.
Where AI really does come into its own is its ability to analyze data and automate repetitive tasks. Using NextechAR’s deep learning algorithms, AI’s image processing and recognition tools allow the AI to take better photos and do so instantly and at a cost of 95% less that traditional photography. This is because AI can be used to enhance the quality and accuracy of photographs, improving detail and sharpness, adjusting exposure, contrast and color balance as well as identifying and removing objects if required. Machine learning algorithms further assist by analyzing enormous datasets of images, identifying and differentiating between different objects and subjects. This can be used to create personalized image recognition tools that can help the AI identify certain scenes or objects and insert the 3D object into the scene creating an infinite amount of lifestyle photography and revenue potential.
This AI tool is expected to drive significant revenue for the company as each product listed for sale on an ecommerce platform requires a minimum of six 2D photos for listing, this offering allows the company to capitalize on this demand for 2D high res images while simultaneously increases the value of its 3D modeling business as it represents the all-in-one solutions for ecommerce sellers that sell on Amazon, Shopify and other platforms.
Evan Gappelberg, CEO of Nextech3d.ai, shares, "Having experienced the significant costs and time investments associated with traditional 2D product photography for ecommerce firsthand, I am thrilled to announce our innovative solution. Our new 3D to 2D digital photo studio leverages our proprietary AI algorithms to effortlessly generate high-quality 2K, 4K, and even 8K photos. This innovation isn't limited to ecommerce alone; it caters to industrial designers and anyone utilizing the Toggle platform for their 3D models."
With Nextech3D.ai's generative AI photo rendering users can effortlessly transform 3D models into ecomm-ready 2D images, regardless of their source or texture status. With the ability to generate up to 360 different angles, this technology offers unparalleled versatility. Previously the company was only offering static backgrounds, including white, black, or gradient options, the platform now can produce lifestyle photography. These dynamic 2D images not only enhance e-commerce presentations but also serve as invaluable tools for prototyping and visualizing diverse textures, styles, and materials. This feature holds immense potential for industry designers across manufacturing sectors, empowering them to prototype designs for products spanning furniture, automotive, machinery, and beyond.
The value proposition of using 3D models for ecommerce and ecommerce product photography lies in their ability to enhance the online shopping experience, streamline product visualization, and drive sales. Here are several key aspects of the value proposition:
1. Enhanced Product Visualization: 3D models offer a more immersive and detailed representation of products compared to traditional 2D images. Customers can interact with 3D models by rotating, zooming, and viewing them from different angles, allowing for a more comprehensive understanding of the product's design, features, and functionality.
2. Increased Engagement: Interactive 3D models capture the attention of online shoppers and encourage them to spend more time exploring products. This increased engagement can lead to higher click-through rates, longer session durations, and ultimately, a higher likelihood of conversion.
3. Reduced Return Rates: By providing customers with a more accurate representation of products through 3D models, ecommerce businesses can reduce the likelihood of returns due to mismatched expectations. Customers can better assess factors like size, color, and design before making a purchase, leading to more informed buying decisions and fewer disappointments upon receipt.
4. Customization and Personalization: 3D models enable ecommerce platforms to offer customization and personalization options to customers. For example, customers can configure products with different colors, materials, or design elements in real-time, allowing them to tailor products to their preferences before purchase.
5. Cost Savings: While creating high-quality 3D models initially requires investment, it can lead to cost savings in the long run. Once created, 3D models can be easily reused and repurposed for various marketing materials, product configurations, and virtual environments, eliminating the need for costly photoshoots and physical prototypes.
6. Adaptability to Emerging Technologies: 3D models are compatible with emerging technologies like augmented reality (AR) and virtual reality (VR), opening up new opportunities for immersive shopping experiences. By integrating 3D models with AR/VR applications, ecommerce businesses can allow customers to virtually try on products, visualize them in real-world settings, and make more confident purchase decisions.
7. Competitive Advantage: Embracing 3D models for ecommerce product photography can differentiate a brand from competitors and position it as innovative and forward-thinking. Providing customers with cutting-edge visualization tools and an engaging shopping experience can help attract new customers, retain existing ones, and build brand loyalty over time.
Explore the future of AI-driven photography with Nextech3D.AI. Contact Us Today!!
scoobey-do
1 month ago
NEXTECH3D.AI ANNOUNCES THE CLOSING OF MAP DYNAMICS SALE TO ARWAY.AI TO FOCUS ON PATENTED HIGH-MARGIN GENERATIVE AI-POWERED 3D MODELING TECHNOLOGY
TORONTO, O.N, Canada – May 28, 2024 - Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a frontrunner in generative AI-powered 3D modeling technology for major e-commerce entities such as Amazon, Miele, P&G, Kohls, and Wesfarmers Group's "Bunnings," today announces its has closed its previously announced sale of Map Dynamics to ARway.ai as a strategic pivot towards becoming a specialized AI 3D firm. The company has divested its Map Dynamics business, a non-core floor plan mapping software unit, to ARway (OTCQB: ARWYF / CSE:ARWY), in exchange for $1.2 million or 4 million shares in ARway, entirely in stock. This move streamlines Nextech3D.ai's operations, focusing exclusively on its profitable AI-driven 3D modeling patented technology.
The divestiture not only advances Nextech3D.ai's position in 3D modeling and AI technology but also enhances ARway's financial standing, contributing approximately $1.2 million in revenue and $500,000 in free cash flow, bolstering its growing spatial mapping operations.
This strategic reorganization and focus on core competencies underline Nextech3D.ai's commitment to leading the evolution of digital commerce through advanced 3D modeling technologies.
scoobey-do
1 month ago
NEXTECH3D.AI REPORTS Q1 2024 REVENUE OF $1,024,000 WITH GROSS PROFIT MARGIN OF 51% OR $526,212 A +70% JUMP OVER 2023
Q1 Highlights
• Multiple Breakthrough Generative AI Patents Issued
• Year Over Year Margin Improved by + 70%
• Cost-cutting measures reduced operating loss by 47%
• The company is Exclusively focusing on large enterprise contracts which are anticipated to have a major impact on the business's future quarters
TORONTO, O.N, Canada – May 24, 2024 - Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a frontrunner in generative AI-powered 3D modeling technology for major e-commerce entities such as Amazon, Miele, P&G, Kohls, and Wesfarmers Group's "Bunnings," other major e-commerce retailers report its unaudited financial and operating results for its first quarter ended March 31, 2024.
CEO Evan Gappelberg comments " I am pleased to present our financial and operational performance for the first quarter of 2024. Despite a slight year-over-year decline in revenue to $1,024,000, we have made significant strides in improving our profitability and operational efficiency through strategic cost-cutting measures and investments in technology. He continues, "In Q1 2023 we had operational expenses of $1.7 mill per month while in Q1 our operational expenses showed a dramatic improvement as it dropped to about $850,000. We are seeing additional operational improvements in Q2 which again will increase our profitability as we drive towards bringing in additional deals and becoming cash flow positive in 2024".
Financial Performance
Revenue: Our revenue for Q1 2024 stood at $1,024,000 million. While this represents a decrease compared to the same period last year, it is important to note the transformative steps we have taken to enhance our business model which will have a material impact on profitability the rest of the year 2024 and beyond.
Profit Margins: The most notable achievement this quarter has been the remarkable improvement in our profit margins. Through a combination of rigorous cost-cutting initiatives and strategic investments, particularly in AI technology and our operational move to India, we have seen our margins increase from 30% in 2023 to 51% in Q1 2024. This represents a 66% improvement.
This positive trend continues into Q2 2024, where we are projecting margins to reach 70-80%, a +166% improvement compared to 2023. This significant increase in profitability underscores the effectiveness of our strategies and our commitment to operational excellence.
Operational Highlights
3D Modeling Business: We continue to excel in our core 3D modeling business, delivering thousands of high-quality 3D models to our largest customer, Amazon, monthly. While Amazon remains our biggest client, we have diversified our customer base and are not solely reliant on them.
New Customer Acquisitions: In Q1, we had anticipated closing deals with several large enterprise S&P 500 companies. Although these deals have been deferred to Q2, we have successfully closed one major contract in Q2, which is expected to contribute an additional 10% to our Q2 revenue compared to Q1. Moreover, we are in advanced discussions with five enterprise customers, and we expect to finalize these agreements in Q2 and Q3 2024. We are now exclusively focused on large enterprise contracts which we anticipate will have a major impact on our business soon.
Strategic Initiatives
Our strategic move to India in late 2023 has been instrumental in enhancing our cost structure and scalability. The investment in AI technology has not only streamlined our operations but also positioned us at the forefront of innovation in the 3D modeling industry. These initiatives are critical to our long-term growth and competitive edge.
Notable News from Q1 2024
New AI-Powered 3D Model Search Tool: Earlier this month, the Company announced it had gone live with its proprietary AI-powered 3D model search engine. This advanced search engine integrates AI and computer vision technologies to refine and expedite the process of 3D modeling. Through the application of this unique technology, the Company is poised to enhance and quicken its internal 3D model creation workflow significantly. Furthermore, there are plans to market this search engine externally, potentially leading to substantial increases in revenue and profits.
Expansion of AI Tech Team and Office Space: Nextech3D.ai has expanded its AI tech team and doubled its office space in Hyderabad, India, in response to increasing demand for our GPT AI platform and 3D model production. This expansion is a testament to the growing recognition of our technological capabilities and our commitment to meeting the rising market demand.
Establishment of New Business Unit Targeting Jewelry Industry: On March 5, 2024, Nextech3D.ai established a new business unit led by a former META executive. This unit targets the jewelry industry with advanced GPT AI CAD-3D models, blockchain technology, and NFTs. This strategic move is expected to open new revenue streams and further diversify our business portfolio.
Formation of AI Incubator and AI Acquisition & Development Division: On March 12, 2024, Nextech3D.ai announced the formation of an AI incubator and AI Acquisition & Development Division. This division has the potential for a 2024 IPO spin-out, reflecting our commitment to fostering innovation and growth within the AI sector.
New Patent Issuance: We were granted a patent for our technology that generates three-dimensional (3D) models from two-dimensional (2D) images. This patent is pivotal to Nextech3D.ai's artificial intelligence technology, strengthening our intellectual property portfolio and reinforcing our competitive edge in the 3D model-making industry for eCommerce. This achievement validates our commitment to increasing shareholder value through investment in 3D-AI GPT patents and solutions.
In conclusion, while Q1 presented challenges in terms of revenue, our proactive measures have substantially strengthened our profitability and market position. We are optimistic about the future and are confident that the steps we have taken will yield significant benefits in the coming quarters.
PROACTIVE LINK TO Nextech3D.ai CEO Evan Gappelberg Discuss results of Q1, 2024 VIDEO INTERVIEW
https: //www.youtube.com/watch?v=ZLiTVLx7peg
Nextech3D.ai CEO Evan Gappelberg joined Steve Darling from Proactive to discuss the company's Q1 performance.
scoobey-do
1 month ago
NEXTECH3D.AI DIVESTS MAP DYNAMICS TO FOCUS ON CORE 3D MODELING BUSINESS
Nextech3D.ai CEO Evan Gappelberg joined Steve Darling from Proactive to reveal the company's latest strategic maneuver: the divestment of its legacy business, Map Dynamics (MapD), through a shares-for-acquisition deal with ARway.ai. MapD, a renowned real-world mapping software firm, boasts an impressive client base of over 400 clients, generating $1.2 million in annual revenue and $250,000 in EBITDA over the past 12 months ending in March 2024.
May 21, 2024: Gappelberg joined Steve Darling from Proacte to reveal the company's latest strategic maneuver: the divestment of its legacy business.
https: //www.youtube.com/watch?v=bsDXYtoUxfQ
Gappelberg outlined that Nextech3D.ai's primary focus lies in the creation of 3D models for the e-commerce sector, leveraging generative AI technology. By shedding Map Dynamics, Nextech3D.ai solidifies its position as a dedicated AI-driven 3D modeling firm, a strategic direction Gappelberg has been steering towards for five years. This transition marks a pivotal moment for the company, enabling it to streamline its operations and concentrate on its core business, which caters to esteemed clients such as Amazon, Kohl's, Procter & Gamble, and Bunnings.
In terms of financial performance, Nextech3D.ai has witnessed significant improvements, with profit margins projected to soar from 30% in 2023 to an anticipated 80% in Q2. The divestiture of Map Dynamics is poised to further enhance Nextech3D.ai’s profitability and bolster its growth prospects. Moreover, Gappelberg teased forthcoming announcements slated for June 2024, including Nextech3D.ai's designation as a preferred 3D model supplier for Amazon. This development is expected to substantially elevate the company's business trajectory and is eagerly awaited by investors. Gappelberg expressed confidence in Nextech3D.ai's continued success as it capitalizes on emerging opportunities in the burgeoning field of AI-driven 3D modeling.
scoobey-do
1 month ago
NEXTECH3D.AI SELLS MAP DYNAMICS TO FOCUS ON PATENTED HIGH-MARGIN GENERATIVE AI-POWERED 3D MODELING TECHNOLOGY
TORONTO, O.N, Canada – May 21, 2024 - Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a frontrunner in generative AI-powered 3D modeling technology for major e-commerce entities such as Amazon, Miele, P&G, Kohls, and Wesfarmers Group's "Bunnings," today announces its strategic pivot towards becoming a specialized AI 3D firm. The company has divested its Map Dynamics business, a non-core floor plan mapping software unit, to ARway.ai (OTCQB:ARWYF)(CSE:ARWY), in exchange for 4 million shares valued at over $1mill based on Friday's closing price of $0.26/share. This transaction brings Nextech3D.ai's ownership stake in ARway.ai to almost 50% allowing it to share in a substantial amount of ARway.ai's and Map D's upside without having to manage the business itself day to day. This move streamlines Nextech3D.ai's operations, allowing the company to focus exclusively on its high margin-profitable generative AI-powered 3D modeling technology. The closing is expected to happen in the first half of June.
The divestiture not only advances Nextech3D.ai's position in 3D modeling and AI technology but also enhances ARway.ai's financial standing, contributing approximately $1.2 million in revenue and about $250,000 in free cash flow, bolstering its growing spatial mapping operations creating a win-win combination for shareholders of both companies.
This strategic move allows the company to focus on further developing its core competencies in 3D and generative AI and underlines Nextech3D.ai's commitment to leading the evolution of digital commerce through advanced 3D and AI modeling technologies.
scoobey-do
2 months ago
NEXTECH3D.AI ANNOUNCES NEW DEALS AND RENEWALS IN 3D MODELING BUSINESS
Nextech3D.ai Continues to Sign New & Renewal 3D Modeling Deals plus AR Visualization for Enterprise e-commerce.
TORONTO, O.N, Canada – May 17, 2024 - Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D generative AI-powered 3D model supplier (Patent #11,948,248) for major e-commerce retailers including Amazon, Miele, P&G, and Kohl's, is pleased to announce a series of exciting new deals and renewals for its 3D modeling business. To date, the company has delivered over 70,000 models to customers across various industries and expects significant growth in 2024 and beyond, driven by Amazon's expanding platform for 3D models and AR experiences. The company is also extending its market reach into sectors like brake pads, calipers, crossbows, power tools, pallet jacks, and more.
CEO Evan Gappelberg Comments on Expansion and Innovation:
Evan Gappelberg, CEO of Nextech3D.ai, stated, "Today, we are seeing more companies, both large and small, across many new industries interested not just in 3D AI models but also in 3D AI digital renders, which we now offer alongside our 3D AI models. This creates additional value from the 3D model itself. 3D AI and AR produce immersive shopping experiences that customers now expect in e-commerce. With our end-to-end integrated solutions, white-glove service, ability to scale production, and large enterprise customers, Nextech3D.ai is emerging as a leader in 3D AI e-commerce."
Showcase of New 3D Models
Brake Pad
Caliper
Rotor
Crossbow
Power Tool
Global Pallet Jack
Global Industrial Fan
Renewals with Global Brands
City Grounds: Offering innovative merchandise for urban cycling needs and more. View Crew Bike Co CB275 27.5" BMX Bike and View Crew Dart V2 Electric Bike
Surplus Furniture: Surplus Furniture quickly became a top furniture and mattress retailer with the buying power to provide incredible value at a warehouse price. View Kempton Black Double Motion Loveseat
William Wood Mirrors: A UK-based company with decades of experience in mirrors, lighting, and furniture. View Liberty - Black Full Length Arched Metal Mirror
X Rocker UK: X Rocker is renowned for redefining home entertainment for gamers across the globe.
Explore Existing 3D Product Models on Amazon:
View Vornado Vintage Air Circulator Fan
View Metal Meat Claws, BBQ Pork Shredder, Walnut Wood Handles
Why AI and 3D Modeling, and Why Now?
The e-commerce landscape is evolving rapidly, with consumers demanding more interactive and engaging shopping experiences. This is where AI and 3D modeling technology come into play, offering a dynamic, immersive, and personalized shopping journey. The shift from 2D to 3D modeling for e-commerce is a major multi-decade transformation that is being led by AI. This transformation is evident as major brands and companies are incorporating 3D models and AR shopping.
Amazon (AMZN - Worth $2 Trillion) Amazon is leading this shift, transitioning from traditional 2D images to 3D models for all their products, setting a new standard in online retail. Nextech3D.ai is proud to be a 3D model supplier for Amazon, already creating tens of thousands of 3D models per month.
According to Amazon Prep: Amazon Has Measured the Following 3D/AR Model Benefits:
an 8X increase in customers who viewed a product in AR at Amazon, from 2018
2X improvement in purchase conversion observed on average in 2022 when AR Virtual Try-On (shoes and eyewear) or View in 3D is enabled on an Amazon Product Listing
94% of customers surveyed by Amazon said they would use Virtual Try-On again (2022 survey of over 2,000 Amazon customers)
9% improvement in sales observed on average when View in Your Room is enabled on an Amazon product listing
Other Benefits of 3D:
3D content that is created can be used beyond the detail page.
Save money on product photography by using 3D assets to render detailed page images
Lifestyle images or other brand marketing content can be quickly created without the need for a studio setup
Many 3D content creators can use 3D assets to create animations, videos, and interactive or animated infographics. Clients should talk to their content creators to learn more about capabilities
The Power of 3D Models in e-commerce
3D models in e-commerce enable customers to visualize products in high detail from every angle, significantly enhancing decision-making confidence. This shift leads to higher conversion rates, as customers are more likely to purchase when they can thoroughly explore a product. Moreover, 3D visualization reduces returns, as buyers have a clearer expectation of what they are purchasing, thus saving costs and improving customer satisfaction. Additionally, interactive 3D models increase customer engagement, keeping them on your site longer, which directly correlates with increased sales.
Timely
As online shopping continues to grow, the demand for more immersive and interactive experiences is growing. Businesses adopting 3D models are setting new benchmarks for customer engagement and satisfaction.
Nextech3D.ai believes it stands at the forefront of this mega-trend, leading the shift from static 2D images to immersive 3D experiences. Its patented AI-powered 3D modeling technology creates photo-realistic 4K 3D models that cater to major e-commerce platforms like Amazon. With years of expertise and a portfolio of high-profile clients including Amazon, P&G, Kohls, Miele, and others - Nextech3D.ai is transforming online shopping into an interactive adventure.
ARitize3D is your one-stop-shop AR solution with automated 3D model creation at an unbeatable price. Our Artificial Intelligence (AI) will turn your existing 2D product images or CAD files into 4K 3D AI and Augmented Reality experiences. It's fast, it's easy and it will transform your e-commerce website.
ARitize3D is the One-Stop-Shop 3D + AR solution for e-commerce that is:?
Affordable - ?lowest cost provider
Scalable - fastest, seamless, high quality
Frictionless - requires low implementation effort ?
AI & ML powered - automated 3D model creation
End to End - from model creation to CMS & AR visualization
Nextech3D.ai: Leading the Future of e-Commerce.
As online shopping continues to grow, the demand for immersive and interactive experiences is increasing. Nextech3D.ai is at the forefront of this mega-trend, transforming online shopping into an interactive adventure with its patented AI-powered 3D modeling technology, catering to major e-commerce platforms like Amazon.
Brands are invited to Contact Us to let our team help you start selling using 3D models for your online store today.
scoobey-do
2 months ago
NEXTECH3D.AI PARTNERS WITH TOGGLE3D.AI TO LAUNCH INNOVATIVE AI-POWERED 3D MODEL MARKETPLACE, ENHANCING REVENUE STREAMS
Company is monetizing its 200,000+ 3D Model Library
TORONTO, O.N, Canada – May 16, 2024 - Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, and other major e-commerce retailers is excited to announce significant enhancements to its revenue streams through a strategic partnership with Toggle3D.ai (CSE:TGGL)(OTCQB:TGGLF)(FSE:Q0C). This collaboration introduces a new, AI-driven marketplace featuring over 200,000+ of our meticulously developed 3D models, now available for purchase in millions of colors and configurations at prices ranging from $20 to $95 per model.
These models, which encompass a diverse array of 3D models, quad meshes and parts, have been crafted over several years, generating millions in revenue for Nextech3D.ai. By leveraging Toggle3D.ai's innovative generative AI platform, Nextech3D.ai aims to significantly increase this revenue. A 30% royalty fee on sales through the Toggle3D.ai marketplace will contribute to this growth.
The company believes that it can become profitable in 2024 by scaling revenue with 80% profit margins while operating expenses are going down due to its investment in its patented AI. The strategic shift to Hyderabad India aligns perfectly with Nextech3D.ai's commitment to delivering top-tier 3D modeling and augmented reality solutions while maintaining a keen eye on profitability and fiscal responsibility for its valued shareholders.
Why AI and 3D Modeling, and Why Now?
The e-commerce landscape is evolving rapidly, with consumers demanding more interactive and engaging shopping experiences. This is where AI and 3D modeling technology come into play, offering a dynamic, immersive, and personalized shopping journey. The shift from 2D to 3D modeling for e-commerce is a major multi-decade transformation that is being led by AI. This transformation is evident as major brands and companies are incorporating 3D models and AR shopping.
Amazon (AMZN - Worth $2 Trillion) Amazon is leading this shift, transitioning from traditional 2D images to 3D models for all their products, setting a new standard in online retail. Nextech3D.ai is proud to be a 3D model supplier for Amazon, already creating tens of thousands of 3D models per month.
According to Amazon Prep: Amazon Has Measured the Following 3D/AR Model Benefits:
• an 8X increase in customers who viewed a product in AR at Amazon, from 2018
• 2X improvement in purchase conversion observed on average in 2022 when AR Virtual Try-On (shoes and eyewear) or View in 3D is enabled on an Amazon Product Listing
• 94% of customers surveyed by Amazon said they would use Virtual Try-On again (2022 survey of over 2,000 Amazon customers)
• 9% improvement in sales observed on average when View in Your Room is enabled on an Amazon product listing
Other Benefits of 3D:
• 3D content that is created can be used beyond the detail page.
• Save money on product photography by using 3D assets to render detailed page images
• Lifestyle images or other brand marketing content can be quickly created without the need for a studio setup
• Many 3D content creators can use 3D assets to create animations, videos, and interactive or animated infographics. Clients should talk to their content creators to learn more about capabilities
The Power of 3D Models in e-commerce
3D models in e-commerce enable customers to visualize products in high detail from every angle, significantly enhancing decision-making confidence. This shift leads to higher conversion rates, as customers are more likely to purchase when they can thoroughly explore a product. Moreover, 3D visualization reduces returns, as buyers have a clearer expectation of what they are purchasing, thus saving costs and improving customer satisfaction. Additionally, interactive 3D models increase customer engagement, keeping them on your site longer, which directly correlates with increased sales.
Timely
As online shopping continues to grow, the demand for more immersive and interactive experiences is growing. Businesses adopting 3D models are setting new benchmarks for customer engagement and satisfaction.
Nextech3D.ai believes it stands at the forefront of this mega-trend, leading the shift from static 2D images to immersive 3D experiences. Its patented AI-powered 3D modeling technology creates photo-realistic 4K 3D models that cater to major e-commerce platforms like Amazon. With years of expertise and a portfolio of high-profile clients including Amazon, P&G, Kohls, Miele, and others - Nextech3D.ai is transforming online shopping into an interactive adventure.
ARitize3D is your one-stop-shop AR solution with automated 3D model creation at an unbeatable price. Our Artificial Intelligence (AI) will turn your existing 2D product images or CAD files into 4K 3D AI and Augmented Reality experiences. It's fast, it's easy and it will transform your e-commerce website.
ARitize3D is the One-Stop-Shop 3D + AR solution for e-commerce that is:
• Affordable - lowest cost provider
• Scalable - fastest, seamless, high quality
• Frictionless - requires low implementation effort
• AI & ML powered - automated 3D model creation
• End to End - from model creation to CMS & AR visualization
Brands are invited to Contact Us to let our team help you start selling using 3D models for your online store today.
scoobey-do
2 months ago
Don’t Miss the Nextech3D.ai CEO Interview!
NEXTECH3D.AI'S AI SEARCH ENGINE POWERED BY NVIDIA GPUS ACCELERATING IT'S PRODUCTION OF 3D MODELS
Nextech3D.ai CEO Evan Gappelberg joined Steve Darling from Proactive to reveal the triumph of their proprietary AI-Powered 3D model search engine launched in Q1, 2024. This cutting-edge AI technology, powered by Nvidia's GPUs, revolutionizes the 3D modeling process by significantly enhancing speed and scalability. Using images as input, the AI search engine swiftly sifts through Nextech's extensive library of 3D models and meshes, recommending the closest match to the provided image.
May 9, 2024: Gappelberg joined Steve Darling from Proactive to reveal the triumph of their proprietary AI-Powered 3D model search engine launched in Q1, 2024.
Watch the interview: https: //www.youtube.com/watch?v=Ws_jormcpnw
According to Gappelberg, the implementation of this AI search engine has led to a remarkable 40% increase in production, enabling the company to boost its output of 3D models significantly. Nextech3D.ai remains committed to advancing its proprietary technology and has plans to patent its breakthrough AI innovations tailored for the mass scale of 3D models, identifying this market segment as a key growth opportunity in 2024. Developed in-house by the company's team of AI engineers and scientists, the AI-powered search engine effortlessly scours Nextech's vast repository of over 200,000 3D models, matching colors, textures, and shapes to deliver precise results. This achievement underscores Nextech3D.ai's technical prowess and expertise in harnessing AI to drive innovation in the 3D modeling industry.
scoobey-do
2 months ago
NEXTECH3D.AI'S AI SEARCH ENGINE POWERED BY NVIDIA GPUS ACCELERATING IT'S PRODUCTION OF 3D MODELS
New AI Increasing 3D Model Production up to 40%
The search engine has over 200,000 3D models with unlimited color and texture variations
TORONTO, O.N, Canada – May 9, 2024 - Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, and other major e-commerce retailers is pleased to announce the success of its proprietary AI-Powered 3D model search engine launched in Q1, 2024. This innovative AI 3D model search engine uses AI powered by Nvidia's GPUs to speed up and scale-up operations for the 3D modeling process. The AI search engine uses images to search Nextech's internal library of 3D models and meshes and then recommends a close match to the given image. The Company is pleased to report that as a direct result of this AI search engine, it is achieving as high as 40% increase in production thus increasing the number of 3D models the company can produce. The Company is continuing to develop patents around its proprietary technology while building and launching breakthrough AI for the mass scale of 3D models, which it sees as a significant growth market in 2024.
As a leading 3D model supplier for e-commerce and AR, Nextech3D.ai recognizes the challenges faced by 3D artists and the time required to build intricate designs from scratch. To address these challenges the Company has built this innovative AI-powered search engine that instantly searches for similar model meshes within Nextech's vast 3D model library of 2000,000+ 3D models with similar colors, textures, and shapes. This AI 3D model search engine was created in-house by the Company's team of AI engineers and scientists, showcasing the Company's technical strength and expertise.
Watch a demo of the AI-powered 3D model search engine tool:
https: //www.youtube.com/watch?v=Cd9mYGTn180
This groundbreaking AI search engine uses computer vision with AI and is designed to speed-up and scale-up operations for the 3D modeling process.
CEO of Nextech3D.ai Evan Gappelberg commented, "We are investing in our AI capabilities to stay competitive in the 3D model market and we see our AI search engine as just one of our investments that are paying off. Our AI-powered Search engine enabling our production to increase by as much as 40% represents a giant step forward in our Company's ability to scale the production of 3D models. By combining our five years of technical expertise in the 3D modeling industry with our new AI capabilities, we're enabling our production capabilities to rapidly scale up and move ahead in 2024. Our patented and patent-pending AI along with new Nvidia GPU tech is allowing us to do things in terms of productivity that we just were not able to do previously, and I expect that to start showing up in the bottom-line profitability of our 3D business in 2024."
Some other notable investments in AI that are in the news:
• Meta has purchased 500,000 more AI GPUs for a total of 1 million AI GPUs, which is valued at $30 billion
• OpenAI CEO Sam Altman plans to spend $50 billion a year on AGI development (artificial general intelligence) by using 720,000 NVIDIA H100 AI GPUs that cost a hefty $21.6 billion.
• Microsoft is aiming for 1.8 million AI GPUs by the end of 2024, while OpenAI wants to have 10 million AI GPUs before the end of the year.
• Read more: https://www.tweaktown.com/news/98089/meta-ai-boss-confirms-the-company-has-purchased-around-30-billion-worth-of-nvidia-gpus/index.html
• Read more: https://www.tweaktown.com/news/98089/meta-ai-boss-confirms-the-company-has-purchased-around-30-billion-worth-of-nvidia-gpus/index.html
Key features of the Mesh Search Tool include:
• Advanced AI Algorithms: Nextech3D.ai integrates state-of-the-art AI algorithms to enable precise and rapid mesh searches, ensuring 3D artists can find the matches they need in seconds.
• Intuitive User Interface: The user-friendly interface offers a seamless experience built directly into the Company's platform, allowing 3D artists to search the vast 3D model library quickly and effortlessly.
• Comprehensive Mesh Database: An extensive and continuously expanding database of hundreds of thousands of 3D parts and meshes. The mesh search tool covers a wide range of diverse products from various industries.
• This new tool leverages artificial intelligence algorithms to enable 3D artists to effortlessly navigate and locate specific 3D meshes, streamlining workflows and saving valuable time while increasing productivity.
ARitize3D is your one-stop-shop AR solution with automated 3D model creation at an unbeatable price. Our Artificial Intelligence (AI) will turn your existing 2D product images or CAD files into 4K 3D AI and Augmented Reality experiences. It's fast, it's easy and it will transform your e-commerce website.
ARitize3D is the One-Stop-Shop 3D + AR solution for e-commerce that is:
• Affordable - lowest cost provider
• Scalable - fastest, seamless, high quality
• Frictionless - requires low implementation effort
• AI & ML powered - automated 3D model creation
• End to End - from model creation to CMS & AR visualization
Brands are invited to Contact Us to let our team help you start selling using 3D models for your online store today.
scoobey-do
2 months ago
Don’t Miss the Nextech3D.ai CEO Interview!
Nextech3D.ai CEO Evan Gappelberg joined Steve Darling from Proactive to announce a substantial new order that the company has secured. In May, Nextech3D.ai received an order for over 1,000 3D AI models and more than 4,000 3D AI digital photos, with deliveries scheduled to start in June. The order, valued in the mid-six figures, underscores the company's role as a pioneer in AI technologies and its capability in creating high-resolution 3D models and renderings for e-commerce enterprises globally.
WATCH INTERVIEW @ https ://www.youtube.com/watch?v=lHnPXB7rDpM (Please remove the space after https)
Gappelberg highlighted that this large enterprise customer has seen significant return on investment from the use of 3D models in e-commerce and is rapidly increasing its orders. Nextech3D.ai is currently engaged in direct collaborations with Amazon and other major e-commerce retailers, such as Kohl’s. The company has also introduced "one-click integration" with major e-commerce platforms like Shopify, BigCommerce, and WooCommerce, which have incorporated 3D/AR features and are setting new standards for Web 3.0 in e-commerce.
Looking forward, Nextech3D.ai is optimistic about its profitability prospects for 2024, anticipating scaling revenue with an 80% profit margin as operating expenses decrease, thanks to its investment in patented AI technologies. The company's strategic move to Hyderabad, India, is also seen as a key step in aligning with its commitment to delivering cutting-edge 3D modeling and augmented reality solutions.
scoobey-do
2 months ago
NEXTECH3D.AI RECEIVES LARGE 3D AI PURCHASE ORDER FROM BLUE CHIP ENTERPRISE CUSTOMER
Nextech3D.ai Continues to Sign New & Renewal 3D Modeling Deals plus AR Visualization For Enterprise E-commerce
The Company Has Expanded into AI CAD-3D Rendering to Capture a Larger Market Share
TORONTO, O.N, Canada – May 8, 2024 - Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, and other major e-commerce retailers is pleased to announce that the Company has received an order for 1,000+ 3D AI models and over 4,000+ 3D AI digital photos in May with delivery set to begin in June with a contract value in the mid-six figures. This large enterprise order is a testament to the company's pioneering AI technologies and expertise in creating 3D models and now renderings of 3D models in 2K, 4K, and 8K for e-commerce enterprise customers across the globe.
Nextech3D.ai CEO Evan Gappelberg commented, "This enterprise customer has recognized the significant ROI of 3D models in e-commerce and is now accelerating its purchasing of 3D models. Shopify has reported up to a 93% increase in CTR, a 250% increase in conversions, and a 40% reduction in returns by implementing 3D/AR models on their eCommerce websites. Nextech3D.ai is currently working directly with Amazon, the largest e-commerce marketplace, and some of the world's largest e-commerce retailers including Kohl's. We also offer "one-click integration'' with the largest eCommerce platforms including Shopify, BigCommerce, and WooCommerce, which have rolled out 3D/AR and set the standard for Web 3.0 in eCommerce.
He continues, "Today we are seeing more companies both big and small interested not just in 3D AI models but also in 3D AI digital renders which we now are selling alongside our 3D AI models, creating additional value out of the 3D model itself. 3D AI & AR produces immersive shopping experiences that customers now expect in e-commerce. With our end-to-end integrated solutions, white-glove service, ability to scale production, and large enterprise customers, Nextech3D.ai is emerging as a 3D AI e-commerce leader. These large contracts are critical revenue and cash flow drivers for the company."
Nextech3D.ai Continues to Sign New and Renewal 3D Modeling Deals
The company believes that it can become profitable in 2024 by scaling revenue with 80% profit margins while operating expenses are going down due to its investment in its patented AI. The strategic shift to Hyderabad India aligns perfectly with Nextech3D.ai's commitment to delivering top-tier 3D modeling and augmented reality solutions while maintaining a keen eye on profitability and fiscal responsibility for its valued shareholders.
Why AI and 3D Modeling, and Why Now?
The e-commerce landscape is evolving rapidly, with consumers demanding more interactive and engaging shopping experiences. This is where AI and 3D modeling technology come into play, offering a dynamic, immersive, and personalized shopping journey. The shift from 2D to 3D modeling for e-commerce is a major multi-decade transformation that is being led by AI. This transformation is evident as major brands and companies are incorporating 3D models and AR shopping, including:
Amazon, Walmart, CB2, IKEA, Sephora, Target, and more.
Amazon (AMZN - Worth $2 Trillion) Amazon is leading this shift, transitioning from traditional 2D images to 3D models for all their products, setting a new standard in online retail. Nextech3D.ai is proud to be a 3D model supplier for Amazon, already creating tens of thousands of 3D models per month.
According to Amazon Prep: Amazon Has Measured the Following 3D/AR Model Benefits:
• an 8X increase in customers who viewed a product in AR at Amazon, from 2018
• 2X improvement in purchase conversion observed on average in 2022 when AR Virtual Try-On (shoes and eyewear) or View in 3D is enabled on an Amazon Product Listing
• 94% of customers surveyed by Amazon said they would use Virtual Try-On again (2022 survey of over 2,000 Amazon customers)
• 9% improvement in sales observed on average when View in Your Room is enabled on an Amazon product listing
Other Benefits of 3D:
• 3D content that is created can be used beyond the detail page.
• Save money on product photography by using 3D assets to render detailed page images
• Lifestyle images or other brand marketing content can be quickly created without the need for a studio setup
• Many 3D content creators can use 3D assets to create animations, videos, and interactive or animated infographics. Clients should talk to their content creators to learn more about capabilities
The Power of 3D Models in E-Commerce
3D models in e-commerce enable customers to visualize products in high detail from every angle, significantly enhancing decision-making confidence. This shift leads to higher conversion rates, as customers are more likely to purchase when they can thoroughly explore a product. Moreover, 3D visualization reduces returns, as buyers have a clearer expectation of what they are purchasing, thus saving costs and improving customer satisfaction. Additionally, interactive 3D models increase customer engagement, keeping them on your site longer, which directly correlates with increased sales.
Timely
As online shopping continues to grow, the demand for more immersive and interactive experiences is growing. Businesses adopting 3D models are setting new benchmarks for customer engagement and satisfaction.
Nextech3D.ai believes it stands at the forefront of this mega-trend, leading the shift from static 2D images to immersive 3D experiences. Its patented AI-powered 3D modeling technology creates photo-realistic 4K 3D models that cater to major e-commerce platforms like Amazon. With years of expertise and a portfolio of high-profile clients including Amazon, P&G, Kohls, Miele, and others - Nextech3D.ai is transforming online shopping into an interactive adventure.
ARitize3D is your one-stop-shop AR solution with automated 3D model creation at an unbeatable price. Our Artificial Intelligence (AI) will turn your existing 2D product images or CAD files into 4K 3D AI and Augmented Reality experiences. It's fast, it's easy and it will transform your e-commerce website.
ARitize3D is the One-Stop-Shop 3D + AR solution for e-commerce that is:
• Affordable - lowest cost provider
• Scalable - fastest, seamless, high quality
• Frictionless - requires low implementation effort
• AI & ML powered - automated 3D model creation
• End to End - from model creation to CMS & AR visualization
Brands are invited to Contact Us to let our team help you start selling using 3D models for your online store today.
scoobey-do
2 months ago
NEXTECH3D.AI ACHIEVES MILESTONE WITH 3D AI MODELING PROFIT MARGINS HITTING 80% IN Q2 2024 UP FROM 30% IN 2023
TORONTO, O.N, Canada – May 2, 2024 - Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D Generative AI-Powered 3D model supplier for Amazon, Miele, P&G, Kohls, Wesfarmers Group "Bunnings" (Australia's largest listed company) and other major e-commerce retailers are excited to announce a major milestone in its 3D modeling business for eCommerce by hitting 80% gross profit in Q2, 2024 which is up 166% from 30% in 2023. This milestone achievement is only possible through the company's investment in AI and its pivot to Hyderabad India in Q3 of 2023.
The company believes that it can become profitable in 2024 by scaling revenue with 80% profit margins while operating expenses are going down due to its investment in its patented AI. The strategic shift to Hyderabad India aligns perfectly with Nextech3D.ai's commitment to delivering top-tier 3D modeling and augmented reality solutions while maintaining a keen eye on profitability and fiscal responsibility for its valued shareholders.
Why AI and 3D Modeling, and Why Now?
The e-commerce landscape is evolving rapidly, with consumers demanding more interactive and engaging shopping experiences. This is where AI and 3D modeling technology come into play, offering a dynamic, immersive, and personalized shopping journey. The shift from 2D to 3D modeling for e-commerce is a major multi-decade transformation that is being led by AI. This transformation is evident as major brands and companies are incorporating 3D models and AR shopping, including Amazon, Walmart, CB2, IKEA, Sephora, Target, and more.
Amazon (AMZN - Worth $2 Trillion) Amazon is leading this shift, transitioning from traditional 2D images to 3D models for all their products, setting a new standard in online retail. Nextech3D.ai is proud to be a 3D model supplier for Amazon, already creating tens of thousands of 3D models per month.
The Power of 3D Models in E-Commerce
3D models in e-commerce enable customers to visualize products in high detail from every angle, significantly enhancing decision-making confidence. This shift leads to higher conversion rates, as customers are more likely to purchase when they can thoroughly explore a product. Moreover, 3D visualization reduces returns, as buyers have a clearer expectation of what they are purchasing, thus saving costs and improving customer satisfaction. Additionally, interactive 3D models increase customer engagement, keeping them on your site longer, which directly correlates with increased sales.
Timely
As online shopping continues to grow, the demand for more immersive and interactive experiences is growing. Businesses adopting 3D models are setting new benchmarks for customer engagement and satisfaction.
Nextech3D.ai believes it stands at the forefront of this mega-trend, leading the shift from static 2D images to immersive 3D experiences. Its patented AI-powered 3D modeling technology creates photo-realistic 4K 3D models that cater to major e-commerce platforms like Amazon. With years of expertise and a portfolio of high-profile clients including Amazon, P&G, Kohls, Miele, and others - Nextech3D.ai is transforming online shopping into an interactive adventure.
Management Changes:
Anum Waqas, CPA, CGA, previously the Director of Finance for Nextech3D.ai has been appointed interim Chief Financial Officer. Anum brings over a decade of experience from multinational companies and government sectors, with a strong background in financial reporting under IFRS. She succeeds Andrew Chan, who is taking a new job in different industries. The Board expresses appreciation for his contributions and wishes him success.
scoobey-do
2 months ago
H.C. WAINWRIGHT / NEXCF: BUY, $0.50 PT -
Nextech3D.AI Corporation
NEXCF: Price: $0.09; Market Cap (M): $12 - Rating: Buy; Price Target: $0.50 -
Scott Buck
Modeling Demand Remains Robust, Licensing Opportunity and Gross Margin Guide Potential Catalysts; Reit. Buy, $0.50 PT.
Results largely as expected, gross margin the story in 2024. After the market close on April 29, 2024 NexTech3D.ai reported year-end 2023 operating results, which were largely consistent with the company’s preliminary results, released in February 2024. The company reported 2023 revenue of C$5.0M, which compared to our C$5.3M estimate but reflects more than 56.0% growth from 2022 levels. Revenue growth continues to be driven by increasing demand for 3D models across multiple industry verticals. Importantly, the company provided gross margin guidance which included an 80.0% margin by 2Q24, up from almost 30.0% in 2023, as the company benefits from moving its 3D modeling operations to India in 2023. The company continues to see elevated levels of demand for its 3D models, including a C$1.8M agreement signed in February 2024 for delivery later this year. This followed additional new contract and contract renewal announcements announced earlier this year. In addition to new contracts, the company provided favorable commentary surrounding potential licensing agreements, including advanced discussions with one manufacturing partner, could add more than C$1.0M to revenue as early as 2024. Scaling revenue at new 80.0% gross margin levels, with operating expenses mostly flat, investors should begin to see significant operating leverage in the business and a clearer path to profitability. The company believes this inflection point could occur as early as this year. As the company delivers against these margin expectations, we believe new investors should gravitate towards NEXCF shares. We remain Buy rated with a $0.50 price target on NEXCF shares.
Operating results. The company reported 2023 revenue of C$5.0M, just below our C$5.3M estimate, but consistent with preliminary revenue results issued in February. Gross margin was 28.7% in 2023, down from 50.6% in 2022 as the company had increased costs associated with the move in production, including new training costs. However, moving forward we believe the offshoring of 3D modeling production to India and assistance of AI in the 3D modeling process, should drive gross margin meaningfully higher. The company has suggested gross margin in 2Q24 should reach 80.0% levels. Cash operating expenses totaled just C$17.2M in 2023, down from C$22.3M in 2022. We attribute the decline to ongoing cost discipline. OpEx should remain largely flat moving forward. The company ended the year with approximately C$0.9M of available cash.
Adjusting estimates, price target unchanged. We are reducing our revenue forecast for 2024 reflecting updated management commentary and 4Q23 operating results. We are now modeling 2024 revenue of C$9.0M, a down from C$12.0M previously. Partially offsetting lower revenue is the expectation for higher gross margin. The company has guided 1Q24 gross margin of between 50.0% and 55.0%, increasing to 80.0% in 2Q24. We believe the company is positioned to grow revenue without a meaningful increase in operating expenses, highlighting the operating leverage in the business. We are not introducing 2025 estimates currently, as revenue visibility remains somewhat challenging. Revenue visibility should improve meaningfully as the business progresses through 2024. Our $0.50 price target on NEXCF shares remains unchanged.
Valuation still attractive given meaningful revenue growth opportunity and improving path to profitability. We are valuing NEXCF shares at $0.50, reflecting approximately 8.0x EV/revenue multiple on our current 2024 revenue estimate of $9.0M. Our $0.50 price target represents approximately 450.0% upside from recent trading levels. A targeted 8.0x EV/revenue multiple represents a premium to other small capitalization technology peers operating within the augmented reality, virtual reality, and metaverse space. We view this as warranted in the near term as the business should begin to ramp quickly given recent new contract announcements and anticipated revenue generation. As the company begins to demonstrate its ability to drive meaningful revenue growth, improve gross margin expansion, and achieve consistent profitability we believe new investors should be attracted to NEXCF shares. In addition, we suspect positive news flow, including new contract and partnership announcements, to serve as a near-term catalyst, ahead of the 2024 acceleration in higher margin technology revenue.
Risks. (1) Dilution risk should the company raise additional capital given current cash burn; (2) high levels of industry competition; (3) technology risk; (4) M&A and integration risk; (5) partnership risk given partnership agreements; (6) foreign operation risk as the company operates in several jurisdictions with different levels of regulatory oversight; and (7) liquidity risk.
scoobey-do
2 months ago
H.C. WAINWRIGHT / NEXCF: BUY, $0.50 PT -
Nextech3D.AI Corporation
NEXCF: Price: $0.09; Market Cap (M): $12 - Rating: Buy; Price Target: $0.50 -
Scott Buck
Modeling Demand Remains Robust, Licensing Opportunity and Gross Margin Guide Potential Catalysts; Reit. Buy, $0.50 PT.
Results largely as expected, gross margin the story in 2024. After the market close on April 29, 2024 NexTech3D.ai reported year-end 2023 operating results, which were largely consistent with the company’s preliminary results, released in February 2024. The company reported 2023 revenue of C$5.0M, which compared to our C$5.3M estimate but reflects more than 56.0% growth from 2022 levels. Revenue growth continues to be driven by increasing demand for 3D models across multiple industry verticals. Importantly, the company provided gross margin guidance which included an 80.0% margin by 2Q24, up from almost 30.0% in 2023, as the company benefits from moving its 3D modeling operations to India in 2023. The company continues to see elevated levels of demand for its 3D models, including a C$1.8M agreement signed in February 2024 for delivery later this year. This followed additional new contract and contract renewal announcements announced earlier this year. In addition to new contracts, the company provided favorable commentary surrounding potential licensing agreements, including advanced discussions with one manufacturing partner, could add more than C$1.0M to revenue as early as 2024. Scaling revenue at new 80.0% gross margin levels, with operating expenses mostly flat, investors should begin to see significant operating leverage in the business and a clearer path to profitability. The company believes this inflection point could occur as early as this year. As the company delivers against these margin expectations, we believe new investors should gravitate towards NEXCF shares. We remain Buy rated with a $0.50 price target on NEXCF shares.
Operating results. The company reported 2023 revenue of C$5.0M, just below our C$5.3M estimate, but consistent with preliminary revenue results issued in February. Gross margin was 28.7% in 2023, down from 50.6% in 2022 as the company had increased costs associated with the move in production, including new training costs. However, moving forward we believe the offshoring of 3D modeling production to India and assistance of AI in the 3D modeling process, should drive gross margin meaningfully higher. The company has suggested gross margin in 2Q24 should reach 80.0% levels. Cash operating expenses totaled just C$17.2M in 2023, down from C$22.3M in 2022. We attribute the decline to ongoing cost discipline. OpEx should remain largely flat moving forward. The company ended the year with approximately C$0.9M of available cash.
Adjusting estimates, price target unchanged. We are reducing our revenue forecast for 2024 reflecting updated management commentary and 4Q23 operating results. We are now modeling 2024 revenue of C$9.0M, a down from C$12.0M previously. Partially offsetting lower revenue is the expectation for higher gross margin. The company has guided 1Q24 gross margin of between 50.0% and 55.0%, increasing to 80.0% in 2Q24. We believe the company is positioned to grow revenue without a meaningful increase in operating expenses, highlighting the operating leverage in the business. We are not introducing 2025 estimates currently, as revenue visibility remains somewhat challenging. Revenue visibility should improve meaningfully as the business progresses through 2024. Our $0.50 price target on NEXCF shares remains unchanged.
Valuation still attractive given meaningful revenue growth opportunity and improving path to profitability. We are valuing NEXCF shares at $0.50, reflecting approximately 8.0x EV/revenue multiple on our current 2024 revenue estimate of $9.0M. Our $0.50 price target represents approximately 450.0% upside from recent trading levels. A targeted 8.0x EV/revenue multiple represents a premium to other small capitalization technology peers operating within the augmented reality, virtual reality, and metaverse space. We view this as warranted in the near term as the business should begin to ramp quickly given recent new contract announcements and anticipated revenue generation. As the company begins to demonstrate its ability to drive meaningful revenue growth, improve gross margin expansion, and achieve consistent profitability we believe new investors should be attracted to NEXCF shares. In addition, we suspect positive news flow, including new contract and partnership announcements, to serve as a near-term catalyst, ahead of the 2024 acceleration in higher margin technology revenue.
Risks. (1) Dilution risk should the company raise additional capital given current cash burn; (2) high levels of industry competition; (3) technology risk; (4) M&A and integration risk; (5) partnership risk given partnership agreements; (6) foreign operation risk as the company operates in several jurisdictions with different levels of regulatory oversight; and (7) liquidity risk.
scoobey-do
2 months ago
NEXTECH3D.AI REPORTS FISCAL YEAR 2023 AND FOURTH QUARTER 2023 AUDITED FINANCIAL RESULTS
2023 Annual Revenue Growth of + 56%
2023 Annual Revenue of $5 million
TORONTO, O.N, Canada – April 29, 2024 - Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, Wesfarmers Group "Bunnings" and other major e-commerce retailers reports its Fiscal Year 2023 and Fourth Quarter 2023 Financial Results the year ended December 31, 2023.
After markets close on Monday, April 29, 2024, the company will release its audited full-year and fourth quarter 2023 financial results.
Preliminary Annual 2023 Financial Highlights
• 2023 Annual revenue growth of + 56%
• 2023 Annual revenue of $5 million compared to $3.2 million in 2022
• 70,000 3D models created to date
2024 Outlook:
• New demand for 3D models expected to gain momentum throughout the year driven by large enterprise customers
• 2023-Cost cutting measures and pivot to India to reduce the company's burn in 2024 by as much as 75%
• Q1 2024 Gross Profit margins estimated to be 50-55%
• Q2 2024 Gross margin estimated to be 80%
• Q2 Improved margins puts India 3D modeling business as a stand alone business unit projected to go cash flow positive
• New 3D photography and AI driven product launches expected to drive additional revenue and growth in 2024
• Multiple patents already issued in 2024 with additional patent issuances expected
• Company is Launching Several Enhanced AI 3D Productivity Tools in Q2, Q3 2024
scoobey-do
2 months ago
NEXTECH3D.AI IS PARTICIPATING IN THE SUPPLIER NETWORK OF GLASSDOLLAR, WHICH EXTENDS NEXTECH3D.AI REACH TO LARGE CORPORATIONS, SUCH AS SIEMENS, LG, BSH, INFINEON
TORONTO, ON, Canada – April 29, 2024 - Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a leading provider of patented 2D-3D Generative AI-powered 3D modeling technologies to major e-commerce brands like Amazon, Miele, P&G, Kohls, and Wesfarmers Group's "Bunnings", has announced a collaboration with GlassDollar. This collaboration highlights the demand for Nextech3D.ai's innovative solutions from large corporations-including CAD to 3D texturing, 3D photo rendering, data analytics, generative AI, spatial computing, and 3D cloud hosting. Through this collaboration, Nextech3D.ai is participating in the supplier network of GlassDollar, which extends Nextech3D.ai reach to large Corporations, such as Siemens, LG, BSH, Infineon, and more.
Evan Gappelberg, CEO of Nextech3D.ai, stated, "Working with GlassDollar provides a seamless avenue for innovative tech startups like Nextech3D.ai, Toggle3D.ai, and ARway.ai to engage with large enterprises, in a frictionless environment. He continues "GlassDollar's ability to pair our solution directly with large corporations that are looking for the same solution is a breath of fresh air. They have done the hard work of finding a potential customer but they don't stop there…they continue to foster the business relationship by setting up follow-up calls and making further introductions all while being professional, diligent, and proactive through the entire process. We are thrilled about this collaboration and look forward to fostering a long-lasting relationship."
After markets close on Monday, April 29, 2024, the company will release its audited full-year and fourth quarter 2023 financial results.
In February, the Company released the preliminary unaudited results showing strong annual revenue growth of +56% to $5 million compared to $3.2 million in 2022. Annual gross profit margin for 2024 is estimated at 30% with the Company's pivot to India in Q4, 2023. Thank you to all of our customers, employees, suppliers, shareholders and supporters who helped us achieve a great 2023.
Please join Evan Gappelberg, Chief Executive Officer, and Andrew Chan, Chief Financial Officer, to discuss these financial and operating results followed by a question and answer period.
scoobey-do
2 months ago
NEXTECH3D.AI ANNOUNCES DATE FOR FINANCIAL RESULTS AND WEBCAST FOR FOURTH QUARTER & FULL YEAR 2023
TORONTO, ON, Canada – April 26, 2024 - Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, Wesfarmers Group ``Bunnings” (Australia’s largest listed company) and other major e-commerce retailers will release its audited full year and fourth quarter 2023 financial results after markets close on Monday, April 29, 2024.
In February, the Company released the preliminary unaudited results showing strong annual revenue growth of +56% to $5 million compared to $3.2 million in 2022. Annual gross profit margin for 2024 is estimated at 30% with the Company's pivot to India in Q4, 2023. Thank you to all of our customers, employees, suppliers, shareholders and supporters who helped us achieve a great 2023.
Subsequently, Nextech will host a conference call to discuss the full year and fourth quarter 2023 results Monday, April 29, 2024 at 5:00 PM Eastern Time.
Please join Evan Gappelberg, Chief Executive Officer, and Andrew Chan, Chief Financial Officer, to discuss these financial and operating results followed by a question and answer period.
Preliminary Annual 2023 Financial Highlights
2023 Annual revenue growth of 56%
2023 Annual revenue of $5 million compared to $3.2 million in 2022
70,000 3D models created 12/32/2023.
Conference Call Details:
Title: Nextech3D.ai Full Year 2023 and Q4 2023 Financial Results
Call Date: Monday, April 29, 2024
Time: 05:00 PM (GMT-04:00) Eastern Time (US and Canada)
Participant Details:
North America Toll-Free: (888) 330-2024
North America Toll: (646) 960-0187
International Toll: +1(646) 960-0187
Conference ID: 7778367
Webcast Attendee URL: https://events.q4inc.com/attendee/810085104
For those unable to join the live event, a recording of the presentation will be posted on the Company's Investor Relations website.
scoobey-do
3 months ago
Nextech3D.ai Announces Date For Financial Results and Webcast For Fourth Quarter & Full Year 2023
TORONTO, ON, Canada – April 12 , 2024 - Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, Wesfarmers Group ``Bunnings” (Australia’s largest listed company) and other major e-commerce retailers will release its audited full year and fourth quarter 2023 financial results after markets close on Monday, April 29, 2024.
In February, the Company released the preliminary unaudited results showing strong annual revenue growth of +56% to $5 million compared to $3.2 million in 2022. Annual gross profit margin for 2024 is estimated at 30% with the Company's pivot to India in Q4, 2023. Thank you to all of our customers, employees, suppliers, shareholders and supporters who helped us achieve a great 2023.
Subsequently, Nextech will host a conference call to discuss the full year and fourth quarter 2023 results Monday, April 29, 2024 at 5:00 PM Eastern Time.
Please join Evan Gappelberg, Chief Executive Officer, and Andrew Chan, Chief Financial Officer, to discuss these financial and operating results followed by a question and answer period.
Preliminary Annual 2023 Financial Highlights
• 2023 Annual revenue growth of 56%
• 2023 Annual revenue of $5 million compared to $3.2 million in 2022
• 70,000 3D models created 12/31/2023.
Conference Call Details:
Title: Nextech3D.ai Full Year 2023 and Q4 2023 Financial Results
Call Date: Monday, April 29, 2024
Time: 05:00 PM (GMT-04:00) Eastern Time (US and Canada)
Participant Details:
North America Toll-Free: (888) 330-2024
North America Toll: (646) 960-0187
International Toll: +1(646) 960-0187
Conference ID: 7778367
Webcast Attendee URL: https://events.q4inc.com/attendee/810085104
For those unable to join the live event, a recording of the presentation will be posted on the Company's Investor Relations website.
scoobey-do
3 months ago
Nextech3D.ai Releasing New 3D GPT-AI For Toggle3D.ai The “All-IN-ONE 3D Platform”
Launching Several Enhanced AI Productivity Tools
• Content Management of 3D models (3D Cloud)
• New EXPANDED Generative AI texturing library
• AI 3D Mesh Search Engine
• Join the CEO Livestreams TODAY April 4 Showcasing NEW AI Technology
TORONTO, ON, Canada – APRIL 4, 2024 - Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, Wesfarmers Group ``Bunnings” (Australia’s largest listed company) and other major e-commerce retailers is thrilled to integrate various AI capabilities from its technology stack into the Toggle platform boosting 3D modeling productivity. The Company’s distinctive AI mesh search algorithm is now fully installed, enabling 3D modelers to search for quad 3D meshes using just a 2D image. The new and improved Toggle platform allows for the purchase of the 3D mesh a la carte and then the customization of the 3D model's texture. This AI powered streamlined process empowers users to embark on their 3D journey with only a 2D image, leveraging the user-friendly AI tools available in the Toggle platform. Additionally, this new AI mesh search engine with a la carte buying of 3D meshes allows Nextech3D.ai to create an extra revenue stream by monetizing its extensive 3D mesh library.
Furthermore, Nextech3D.ai is expanding its texture library within Toggle3D to offer users an extensive selection of textures for customizing their 3D models. This enhancement positions the Toggle3D platform as a comprehensive ALL-IN-ONE solution for all 3D modeling needs across various applications.
Nextech3D.ai is continuously assessing its users' requirements, integrating additional features into the Toggle3D platform that generate additional revenue streams as well enhance users experience and productivity. Further details on the Company’s AI roadmap will be provided shortly.
scoobey-do
3 months ago
NEXTECH3D.AI ISSUED PIVOTAL AI PATENT FROM USPTO FOR GENERATING 3D MODELS FROM 2D IMAGES
Join the CEO Evan Gappelberg as he Livestreams NEW AI Technology Thurs April 4
TORONTO, O.N, Canada – APRIL 3, 2024 - Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS), a patented 2D-3D generative AI-powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, Wesfarmers Group “Bunnings” (Australia’s largest listed company) and other major e-commerce retailers is proud to announce that U.S. Patent and Trademark Office (USPTO) has officially issued a patent for the Company’s technology to generate three-dimensional (3D) models from two-dimensional (2D) images: Patent #11,948,248.
Nextech3D.ai CEO Evan Gappelberg commented, “We are extremely pleased that we have been awarded this patent by the USTPO, and we believe that it is a pivotal patent for our patent portfolio. We see this patent in the context of AI, and 2D to 3D model generation as the key patent for the 3D modeling industry which adds value to Nextech3D.ai and for our shareholders.” He continued, “ With this patent being recognized by the USPTO, we are now one of the technology leaders in the field of 2D photos to 3D models using AI. We will be promoting this new patent as it really gives us a competitive advantage and separates Nextech3D.ai from other companies that make 3D models. With this second AI patent issuance and seven additional patents filed, we continue to build a moat around our 3D model making for e-commerce business with BOTH industry expertise and intellectual property; which includes GPT AI powered 3D model generation. This second AI patent approval reinforces and validates Nextech3D.ai's commitment to increasing shareholder value by investing in 3D-AI GPT patents and solutions while simultaneously generating millions in annual 3D modeling revenue.”
USPTO web reference for the patent : THREE-DIMENSIONAL (3D) MODEL GENERATION FROM TWO-DIMENSIONAL (2D) IMAGES
Livestream Details
Nextech3D.ai will host a special livestream event on Proactive Investors with CEO Evan Gappelberg, who will discuss new AI tech updates.
The Company invites individual and institutional investors, as well as advisors and analysts to attend the live, interactive online event. Guests are encouraged to join live and ask questions.
Date: Thursday April 4, 2024
Time: 2:00 p.m ET / 11:00 a.m PT
Guests: Evan Gappelberg (CEO & Founder of Nextech3D.ai)
Link to Join: https: //www.youtube.com/watch?v=Xm7SExgFgos
scoobey-do
3 months ago
NEXTECH3D.AI RECEIVES NOTICE FROM USPTO TO BE GRANTED PIVOTAL AI PATENT FOR GENERATING 3D MODELS FROM 2D IMAGES
TORONTO, O.N, Canada – March 26, 2023 - Nextech3D.AI (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 excited to announce that U.S. Patent and Trademark Office (USPTO) has informed of their decision to issue a patent for its technology to generate three-dimensional (3D) models from two-dimensional (2D) images. This is another patent which the Company believes is pivotal to Nextech3D.ai’s artificial intelligence technology as it builds a moat around its 3D model making for ecommerce business with industry expertise and intellectual property; which includes its GPT AI powered 3D model generation. This patent approval reinforces and validates Nextech3D.ai's commitment to increasing shareholder value by investing in 3D-AI GPT patents and solutions while simultaneously generating millions in annual 3D modeling revenue.
USPTO has sent a letter to the Company stating that the patent will be issued on April 2, 2024. Web reference for the patent: THREE-DIMENSIONAL (3D) MODEL GENERATION FROM TWO-DIMENSIONAL (2D) IMAGES
Nextech3D.ai continues to expand its market share of the swiftly growing 3D model creation market. Across diverse industries, but especially within ecommerce there's a mounting need for 3D product models. As every user transitions from 2D interfaces on phones and computers to increasingly immersive 3D experiences, the demand for superior user engagement escalates. Nextech3D.ai’s technology enables effortless transformation of 2D images or content into 3D using user-friendly software tools. With the surging integration of AR and VR technologies in various sectors, the Company sees demand for 3D content and materials continuing to rise for the foreseeable future.
Previously, generating a 3D model entailed laborious processes and human involvement. Yet, with Nextech3D.ai's patented technology, users can swiftly convert a 2D image or CAD model into a fully textured 3D representation within minutes. This streamlined workflow not only enhances productivity but also slashes costs, granting Nextech3D.ai a distinct competitive edge in a large market.
Head of Product Operations at Nextech3D.ai, Hareesh Achi commented, ”I am thrilled to safeguard our intellectual property with these patents. It's a testament to our team of exceptionally talented AI engineers and 3D designers who continuously contribute to the development of our groundbreaking products. We are strategically positioned to capitalize on the ongoing evolution of 3D technology in the years ahead.
Nextech3D.ai innovations are streamlining all aspects of 3D for both businesses and customers. Our GPT tools empower users to enhance productivity and swiftly create 3D content.”
Previous Patents
In December 2023, Nextech3D.ai announced the grant of a patent by USPTO for 3D model generation from Computer Aided Design (CAD) data.
Link to the patent online at USPTO site: patent # 11823328
This patent enables Nextech3D.ai to increasingly capture a larger share of the rapidly growing 3D model creation business.
Max2121
4 months ago
NEXTECH3D.AI ANNOUNCES FORMATION OF AI INCUBATOR AND AI ACQUISITION & DEVELOPMENT DIVISION WITH POTENTIAL 2024 IPO SPIN OUT
——-
NEXTECH3D.AI ANNOUNCES FORMATION OF AI INCUBATOR AND AI ACQUISITION & DEVELOPMENT DIVISION WITH POTENTIAL 2024 IPO SPIN OUT
TORONTO, ON, Canada – March 12, 2024 - Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers announces the launch of its new AI Incubator and AI Development Division, signaling a significant leap forward in its commitment to advancing artificial intelligence technologies. This new venture, set to be spearheaded by a dynamic team of three esteemed AI scientists alongside the visionary leadership of Evan Gappelberg, CEO of Nextech3D.ai, and Hareesh Achi, former Microsoft executive renowned for his pivotal role in digital transformation and technology strategy. This new division marks a major milestone in Nextech3D.ai's growth trajectory and sets the stage for additional potential IPO spin- outs of new AI technology Companies to its shareholders.
The AI Incubator and Development Division is established with the mission to nurture AI solutions that will enhance the human experience across various sectors, including education, healthcare, ecommerce, blockchain, retail, and more. This initiative is a testament to Nextech3D.ai's dedication to pushing the boundaries of what's possible in AI and 3D technology integration for its shareholders.
Evan Gappelberg, celebrated for his foresight and innovation in the tech arena, will provide strategic direction and vision for the division. His leadership has already positioned Nextech3D.ai and its two spin outs Toggle3D.ai and ARway.ai as frontrunners in the 3D technology landscape.
Joining him in steering this ambitious project is Hareesh Achi, an ex-Microsoft and META executive whose expertise in AI, digital advertising, and operational efficiency has earned him acclaim in the technology community. Achi's proven track record of leading high-impact teams and his strategic vision for AI applications make him an invaluable asset to the Nextech3D.ai leadership team.
The division's core team of AI scientists, handpicked for their pioneering work and contributions to the field of artificial intelligence, will focus on developing AI-driven technologies and solutions that are not only innovative but also ethically responsible and sustainable.
Katyani Singh, Computer Vision/Machine Learning Scientist who obtained her Masters in Computing Science at the University of Alberta. Her research interests lie in Computer Vision and Deep Learning. Amir Salimnia, Computer Vision/Machine Learning Scientist, who is an MSc. Computer Engineering graduate from Western University with more than three years of experience developing machine learning.
Omid Alemi, Machine Learning Researcher and Software Engineer, who holds an MSc in Computer Science from the University of Northern British Columbia and a BSc in Software Engineering from the University of Arak and has 3+ years experience working on developing and deploying machine learning solutions for computer vision and 3D asset creation.
This core team of AI scientists will conduct research and development efforts geared towards creating AI tools and applications that empower businesses and consumers alike, fostering a future where technology and humanity intersect seamlessly.
New Path to Innovation and Growth
In a groundbreaking move, Nextech3D.ai has announced that once the AI technologies incubated within the AI Incubator and Development Division reach commercialization, they will be spun out as new public companies as it has done this twice already with Toggle3D.ai and ARway.ai. This strategic approach not only accelerates the path to market for these innovative solutions but also maximizes value for Nextech3D.ai shareholders. Following the successful precedents set by Arway.ai and Toggle3d.ai, shareholders in Nextech3D.ai will receive a stock dividend in these new entities, underscoring Nextech3D.ai's commitment to rewarding its investors and fostering a vibrant ecosystem of technology ventures.
CEO Evan Gappelberg stated, “We are at the cusp of a new era in AI and 3D technology. With the launch of our AI Incubator and Development Division, and our unique approach to commercialization and value creation."
Hareesh Achi added, "It's an honor to join forces with Evan and the incredible team at Nextech3D.ai. Together, we're not just exploring the potential of AI; we're shaping its future, ensuring that the technologies we develop are used to make a meaningful difference in the world. The opportunity to directly reward our shareholders as we grow and spin out these innovations into new public companies is incredibly exciting."
The AI Incubator and Development Division is now actively working on several projects, investing heavily into the future of AI while also looking at possible acquisitions with more innovative solutions and updates expected to be unveiled in the coming months.
LATEST NEXTECH3D.AI NEWS
Nextech3D.ai Establishes New Business Unit Led by Former META Executive, Targeting Jewelry Industry with GPT AI CAD-3D Models, Blockchain Technology, and NFTs
Nextech3D.ai Expands AI Tech Team and Doubles Office Space As Demand Increases For GPT AI Platform and 3D Model Production In Hyderabad, India
Nextech3D.ai Launches Next Era of GPT AI 3D Solutions Led by Former Microsoft Executive
Nextech3D.ai Lands $1.8 Million 3D Modeling Deal with NASDAQ 100 Technology Company
Nextech3D.ai Reports $5 Million in 2023 Revenue, Growth Up +56% Preliminary Unaudited Results
Nextech3D.ai’s Breakthrough AI Powered Search Engine Able to Deliver a 500% Increase in Productivity
News
Market Data
Register for real-time alerts, custom portfolio, and market movers
Monroe1
3 months ago
