NexTech’s New Augmented Reality Product ‘ScreenAR’ Gaining Sales Momentum

Nachrichtenquelle: globenewswire
31.08.2020, 13:30  |  137   |   |   

Revenue for Augmented Reality Rapidly Accelerating Pushing Q3 Estimates to $5million

VANCOUVER, British Columbia, Aug. 31, 2020 (GLOBE NEWSWIRE) -- NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), an emerging leader in augmented reality for eCommerce, AR learning applications, AR-enhanced video conferencing and virtual events is pleased to announce that its recently launched  augmented reality solution for video ‘ScreenAR’ has generated over $100,000 in sales in its first month and is gaining great momentum. ‘ScreenAR’ has been seamlessly integrated into the InfernoAR platform and uses the company's ARitize technology. With the integration of its augmented reality solutions into its video conferencing events platform InfernoAR, NexTech has created a unique suite of product offerings that helps companies drive their digital transformation. With the rapid rollout and adoption of ‘ScreenAR’ the company has dramatically expanded its AR revenue generating power and is now becoming the de facto video conferencing industry standard.

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The  recently announced contract with Ryerson university for AR labs valued at $250,000 plus the recent surge in orders for ScreenAR bringing in over $100,000 and growing positions at the company at the enviable intersection of the digital transformation of everything, setting the stage for exponential growth in AR revenue going forward. To meet this rapidly growing market demand the company is dramatically expanding its AR division of expert 3D modelers, highly experienced Unity developers as well as talented UI/UX designers. In addition, the company has appointed Dawsyn Borland as Head of its new AR Labs to prepare for the highly anticipated rollout of AR glasses as well as to continue to develop and innovate AR for eCommerce, ScreenAR, AR Labs, WebAR, 3D/AR Advertising, all of which are key parts of the company's ongoing drive to develop its ecosystem of revenue generating AR solutions.

Evan Gappelberg, Chief Executive Officer, NexTech AR noted, “Due to the insatiable demand of InfernoAR, the surging demand for our AR products and continued growth in our AR eCommerce we are on target to have a record breaking Q3. With our growing sales force, pipeline of deals and quotes I’m estimating that we hit $5million in revenue for Q3, which almost equals our entire year's revenue in 2019 of $6 million. Due to our diverse product offerings we are seeing adoption of our products and services across a wide spectrum of customers; including Universities, Faith based organizations, Fortune 1000 corporate giants and virtual conferences." He continues, “With our innovative AR technology solutions we firmly believe that NexTech has a competitive edge in the market and that ‘ScreenAR’ will only accelerate the massive adoption already underway of our InfernoAR software. Our customers believe that video combined with the immersive nature of AR puts us head and shoulders above the other video conferencing platforms out there, and are choosing our platform because of it.”

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