NexTech Reports Record Revenue for Q4 2019

NexTech AR Solutions (CSE:NTAR,OTCQB:NEXCF) released its results for Q4 2019 and the month of December 2019.

As quoted in the press release:

Both revenue and gross profit showed dramatic increases in December. Notably, the company achieved over $760,000 in December revenue and gross profit of $453,000 representing the highest revenue ever achieved in a single month. Revenue and Gross profit for the 4th quarter 2019 also accelerated rapidly reaching $2,580,000 and $1,340,000 respectively, which represents a 4390% increase in revenue and 2232% increase in gross profits year over year.

Evan Gappelberg, CEO of NexTech AR Solutions comments, “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.” He continues, “We are in the midst of the 4th Industrial Revolution, and technology is evolving faster than ever. This revolution is being led by AR, AI, IoT, Edge computing and the 5G network, all of which are converging and becoming increasingly ubiquitous for training, e-commerce, advertising, and entertainment. This convergence is stimulating a rapid market adoption environment similar to the internet in the 1990’s driving the creation of billion-dollar industries almost overnight, a market NexTech is uniquely positioned to capitalize on.”

Click here to read the full press release.