Q2 Highlights

• Now Amazon Certified 3D Content Provider

• Launches AI Generated Digital Photography studio

• Record 74% Profit Margin Achieved

• Issued 2D-3D Patent #11,948,248

• Adds AI 3D Mesh Search Engine

TORONTO, ON / ACCESSWIRE / August 29, 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, other major e-commerce retailers reports its unaudited financial and operating results for its second quarter ended June 30th, 2024.

Financial Performance

Revenue: $1,108,000 with Record Gross Profit Margin of 74% or $820,000 A 45% Increase Over Q1, 2024 and an 80% increase over Q2 2023.

Profit Margins: The most notable achievement this quarter has been the significant improvement in our profit margins as we have seen our margins increase from 30% in 2023 to 51% in Q1 2024 to 74% in Q2 2024 This represents an 80% improvement.

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 innovate and push our AI technology forward in our core 3D modeling business, delivering thousands of high-quality 3D models to our diverse customer base on a monthly basis.

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.

In conclusion, while Q2 presented challenges in terms of revenue, our proactive measures have substantially strengthened our profitability and market position. The company is optimistic about the future.

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For more information and full report go to

https://www.sedarplus.ca

For further information, please contact:
Nextech3D.ai
Evan Gappelberg /CEO and Director
866-ARITIZE (274-8493)

About Nextech3D.ai Nextech3D.ai or the "Company," (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for manufacturers with CAD files and for E-COMMERCE merchants. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers with patented 2D-3D technology.