NexTech Reports Record Revenue and Gross Profit for Q4

Quarterly Performance Boosted by NexTech’s AR Ecomm division

NEW YORK and TORONTO, Jan. 07, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions (the “Company” or “NexTech”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), the industry leader in augmented reality, is pleased to announce that it has achieved record revenue and gross profit for the month of December 2019 and Q4. Both revenue and gross profit showed dramatic increases in December. Notably, the company achieved over $760,000 in December revenue and gross profit of $453,000 representing the highest revenue ever achieved in a single month. Revenue and Gross profit for the 4th quarter 2019 also accelerated rapidly reaching $2,580,000 and $1,340,000 respectively, which represents a 4390% increase in revenue and 2232% increase in gross profits year over year.

Evan Gappelberg, CEO of NexTech AR Solutions comments, “I’m excited to report record preliminary numbers for our 4th quarter and I am particularly excited that we were able to achieve $760,000 in sales in just one month, hitting a new company high. During the month of December and the entire Q4, we saw an acceleration in sales growth across all business segments, especially our AR e-commerce division, which is now starting to scale as we continue to sign up more customers.” He continues, “We are in the midst of the 4th Industrial Revolution, and technology is evolving faster than ever. This revolution is being led by AR, AI, IoT, Edge computing and the 5G network, all of which are converging and becoming increasingly ubiquitous for training, e-commerce, advertising, and entertainment. This convergence is stimulating a rapid market adoption environment similar to the internet in the 1990’s driving the creation of billion-dollar industries almost overnight, a market NexTech is uniquely positioned to capitalize on.”

-The company is beta testing both its game-changing CaptureAR technology and its AR, 3D 360 advertising platform with very positive results both of which it expects to launch in the next few weeks.

CaptureAR is a pivotal new technology which will accelerate the augmented reality global marketplace. With CaptureAR customers can achieve incredible time and money savings. What would take an experienced 3D modeler days of work to create a 3D version of a product, can now be done in a matter of minutes—and with the same resolution and image fidelity as if the 3D model was designed from scratch.