NexTech AR says unaudited preliminary 1Q revenue and gross profit jumped by triple digits year-over-year
NexTech AR Solutions Corp (OTCQB:NEXCF) (NEO:NTAR) (CSE:NTAR) (FRA:N29) reported that its unaudited preliminary first-quarter revenue and gross profit jumped by triple digits year-over-year.
The company said its revenue for the three months ended March 31 is estimated at $7.5 to $7.7 million, an increase of more than 200% compared to $2.5 million in the 1Q of 2020.
READ: NexTech AR Solutions reports 2020 revenue and profit bump
In addition, NexTech said 1Q gross profit is estimated at $4.1 to $4.3 million, a year-over-year increase of more than 200%. The company made a gross profit of $1.4 million in the year-ago quarter.
Total bookings for the quarter were $2.2 million, the company added.
“We are unique in that we are diversified with four fast-growing businesses, which all have a red thread of augmented reality connecting them, creating a major product differentiation and competitive advantage,” CEO Evan Gappelberg said in a statement.
“We are strategically positioned with our augmented reality, eCommerce and InfernoAR video conferencing and virtual experience business units to thrive in this new economy being led by a digital transformation across technology. There has never been more business opportunity in our lifetime for augmented reality, virtual learning, virtual conferences, or virtual events and eCommerce, and we see strong business trends continuing in Q2 and beyond.”
Investor Day event
In other company news, NexTech is holding an Investor Day event today (April 29) from 1 pm to 3 pm EST.
To participate in an exciting AR experience during the event, the company encourages all participants to download the AiR Show App in advance. Please use the following steps:
- Download the AiR Show App on your mobile smartphone via Apple App or Google Play stores.
- Follow along in the company’s Investor Day for the cue to open the AiR Show app and scan the QR code.
- Follow the directions in the app. Scan your environment to place the livestream hologram of CEO Gappelberg into your space. Turn up the volume and enjoy the demonstration. NexTech encourages investors to take pictures and videos and share with the company and on social media.
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Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/948068/nextech-ar-says-unaudited-preliminary-1q-revenue-and-gross-profit-jumped-by-triple-digits-year-over-year-948068.html
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