Nextech3D.ai (NTAR.C) is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime Ecommerce Marketplace as well as many other online retailers. Nextech is a generative AI-powered 3D model supplier for Amazon, Kohls, P&G and other major e-commerce retailers.

Today the Company released its last shareholder update in June 2023, which outlined its Q1 highlights, 3D model updates including in partnership with Amazon, and its patents.

Nextech3D.ai has surpassed a major milestone in 2023 having delivered more than 60,000 3D models to its satisfied customers. This remarkable achievement reflects a notable surge in both production and demand throughout 2023.

In August 2023, the Company reported its Q2 & 6 months 2023 Financial Highlights. These included:

• Six months revenue up +157% compared to same period last year
• Q2 revenue up +155% compared to same period last year
• Q2 Gross profit remained consistent at 39%
• Nextech3D.ai’s recent name change from Nextech AR Solutions to Nextech3D.ai better reflects Nextech’s current technology and business direction, with its emerging generative AI technology considered a key competitive advantage
• The Company is moving to high scale production. In preparation, it has established Nextech3D Solutions India Private Limited. This strategic transition is anticipated to reduce expenses and significantly enhance the Company’s profitability and performance as it continues to roll out its AI solution in 2024.
• The Company is gearing up for a record Q4 and record 3D model growth in 2024. CEO Evan Gappelberg and Executive and Head of Product Operations Hareesh Achi recently joined Proactive Investors to discuss the strategic move to set up operations in India – click here to watch

• The hiring of Hareesh Achi from MSFT & META as the new Head of Product Operations is a key factor in enhancing Nextech3D.ai’s profitability as he will be creating operational effectiveness by streamlining processes and optimizing workflows in order to enhance overall performance and profitability.

Map D, which is 100% owned by Nextech3D.ai, an event solutions platform, had these notable updates in recent months:

• Advanced Solutions International (ASI) iMIS association database signs Reseller agreement with Map D, providing customers Interactive Floorplans and seamless Integrations between systems
• Rainfocus event marketing platform signs Reseller agreement with Map D, providing customers Interactive Floorplans and seamless Integrations between systems
• CannaCon, a global B2B venue for cannabis businesses, marijuana entrepreneurs selects Map D for their Interactive floorplan
• JENKS Productions, the leading event management company in the Northeast signs Annual License with Map D, providing Interactive floor plans and Booth Sales
• American Tradeshow Services (ATS), event management company resigns Annual License with Map D, providing Interactive floor plans and Booth Sales

Highlights for Toggle3D.ai include:

• In September, the Company announced Toggle3D.ai officially surpassed 17,000 user sign ups, representing +70 in user growth and a total of 19,000 projects. This growth demonstrates the market demand and the Company’s ability to scale with demand.
• In August, the Company announced a breakthrough in its Artificial Intelligence (AI) lab for generative AI photo rendering. This AI tool is expected to drive significant revenue as it is being offered exclusively as part of the Toggle Pro Paid Subscription plan.
• Toggle3D.ai has also integrated with Sketchfab: the largest platform for immersive and interactive 3D content where users publish, share, discover, buy and sell 3D models. Sketchfab currently has over 5 million 3D models available to download. This integration offers 10 million Sketchfab members access to Toggle’s AI generated 3D model texturing tools giving members the ability to create an infinite number of styles and 3D model designs.
• New appointment of Anita Matte as the Company’s new Director of Growth Marketing. With an impressive background in B2B subscription business models and a proven track record of success, Anita joins Toggle3D.ai from Amazon, where she played a key role in driving marketing strategies for one of the world’s largest corporations.

Forward guidance includes:

• Total users expected to surpass 30,000+
• The Company is working towards a listing on Product Hunt, bringing additional awareness and exposure to the platform.
• Implement new photo rendering capabilities using AI
• Increase the number of paying users (higher user conversion rate)
• Add real time collaboration in the platform which opens the door for entire teams and workspaces to be created
• Grow the Toggle3D Community
• Have new integrations with leading 3D/CAD software
• Add more pricing plan options for increased flexibility
• Get listed on Product Hunt, a platform for discovering new products and brands. Some billion dollar companies got their start on Product Hunt, including Zapier, Slack and Notion.

Highlights for 45% owned ARway.ai includes:

ARway recently signed a number of new partnership deals, including:

• AI Africa
• VRAXA
• Brink Interactive, all of which represent a significant opportunity for revenue for the Company. Previous to this, the Company has signed a pilot with one of the largest shopping malls in California for navigation and augmented reality experiences in the Centre comprising 1.2 million square feet, more than 130 stores, restaurants;
• It signed a multi-year contract with Localiza, the largest car rental company in South America, to deliver a differentiated customer experience through newly established rental hubs at all major airports in Latin America. The AR navigation will be for travellers renting cars in branches located in airports and off-airport locations;
• It signed a contract with the second-largest academic institution in Turkey, Süleyman Demirel Üniversitesi, with approximately 70,000 students enrolled.
• The Company also secured a $500,000 deal with Map D, This strategic collaboration aims to disrupt the lucrative trade show industry, valued at $50 billion, through the introduction of ARway’s cutting-edge augmented reality indoor navigation system.

On the technology side, ARway.ai launched Version 2.5, including AI-assisted pathfinding catering to the demand for inclusive, accurate, and user-friendly navigation solutions, new visually stunning navigation path styles, advanced creator tools, and more, fortifying its market position as a key player in the industry.

ARway announced the Company was selected to participate at Apple’s Vision Pro Developer Labs in Cupertino, California. ARway is pleased to report that at the developer labs, the Company completed a first build of the ARway Platform on Apple’s Vision Pro hardware and realityOS operating system at Apple Park, Cupertino where developers got exclusive access to early prototypes of the headsets.

ARway recently announced the transition to a SaaS business model, and is now able to offer its Starter and Developer user plans through self-serve sign-up. This automation of the sales process will result in increased revenue, expanded distribution channels, increased usage and traction, and is timed perfectly with future developments in ARway technology and the spatial computing industry.

The stock has printed new 52 week lows today hitting $0.20. The stock was ranging showing some selling exhaustion but failed to close above the previous lower high. This is why we wait for confirmations. The downtrend continues and the lower high remains at $0.28.