NexTech AR Solutions Corp. (NTAR:CSE; NEXCF:OTCQB) generated record revenue and gross profit in both December and Q4 of 2019, it announced in a news release.
In December 2019, the augmented reality tech firm yielded $760,000 in revenue for a gross profit of $453,000.
In Q4/19, NexTech brought in $2.58 million in revenue, a 4,390% increase over Q4/18. Gross profit came in at $1.34 million, up 2,232% year over year.
Currently, the company is beta testing its CaptureAR technology and its AR-3D-360 advertising platform. Capture AR allows anyone to easily and quickly create a high-quality, three-dimensional image of a product. As for its advertising line of business, NexTech plans to utilize its asset creation technology and relationships to create AR-3D-360 ads, which will be a new revenue source for it. NexTech expects to launch both programs in the next few weeks.
Evan Gappelberg, CEO of NexTech AR Solutions commented, "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."
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