Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update


AR Tech Firm Starts 2020 with Highest Monthly Revenue Ever
News Update

Share on Stocktwits


Another January record for the company was the number of new clients it signed.

NexTech AR Solutions Corp. (NTAR:CSE; NEXCF:OTCQB) posted record revenue and gross profit in January 2020, it announced in a news release.

Preliminary numbers show that for the first month of the year, the augmented reality (AR) tech company generated $800,000 in revenue, up 110% year over year (YOY). Gross profit was $528,000, a 172% YOY increase.

Greater sales drove the month's revenue, which occurred in all of NexTech's business segments but were heaviest in its AR e-commerce division. The augmented reality firm garnered 22 new customers in January, also a record, and hired four additional sales representatives.

NexTech will report its audited financial results for June 1, 2019, to Dec. 31, 2019, in April 2020.

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: NexTech AR Solutions. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NexTech AR Solutions, a company mentioned in this article.

Want to read more about Technology investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe