NexTech Now Approved Microsoft Partner

Company is Experiencing The Rapid Global Adoption Of its Virtual Events and AR Technology

VANCOUVER, British Columbia, Sept. 11, 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 NexTech is now an approved Microsoft partner creating enormous new business opportunity for the company. This partnership provides access to the Azure Marketplace so that InfernoAR can be sold directly through the Marketplace.

The company is also working to become part of the Microsoft cross sell program where Microsoft’s sales reps will sell InfernoAR and be incentivized to do so by the Microsoft reps getting Azure sales credits whenever they sell the InfernoAR product. 

Nextech is currently building new video conferencing features which will integrate collaborative classroom learning, one to one networking and traditional video conferencing directly into the InfernoAR platform letting users seamlessly launch and manage both collaborative experiences and large audience events directly from InfernoAR, once this is built it will be offered online in Azure.  The company is  also planning to move InfenroAR into Azure.

“With this Microsoft partner program NexTech AR continues to build momentum as it scales up customer wins and is at the forefront of making video conferencing and AR easy to implement and quickly accessible to everyone,” states Evan Gappelberg, CEO of NexTech AR.“NexTech’s industry-leading InfernoAR platform and end-to-end augmented reality solution along with our partnership with Microsoft and it's huge unparalleled ecosystem brings Nextech AR deeper into the technology marketplace then ever before and provides us with an enormous opportunity for more customer wins.”

Recent Company Highlights in 2020:

August 27, 2020: Carnegie Mellon University has chosen NexTech’s InfernoAR platform for a virtual series beginning September 2020.

August 25, 2020 Q2 2020 highlights:

• Revenue grows 290% to $3.5 million
• Gross Profit grows 484% to $2.1 million with a 61% margin
• Working Capital of $5.6 million
• Total Bookings $3.7 million

August 11, 2020: Company announced that it has begun a major expansion of its AR ecommerce business. In the past 60 days the company has signed new distributor deals with major brands such as; Dyson, Philips Norelco, MR. Coffee, VitaMix, MetroVac, Breviel, and Cusinart. These new distribution deals position the company to take full advantage of the new SFH (shop from home) paradigm shift in e-commerce as well as leverage its full augmented reality technology stack into these brands, which includes its WebAR, ARitize360 app and its 3D/AR advertising network. The company expects these new products to have a significant impact on future revenues.