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    artificial intelligence investing

    NexTech AR Reports Record Revenues of C$575,000

    Dorothy Neufeld
    Oct. 03, 2019 10:23AM PST
    Emerging Technology

    As the augmented reality company continues to expand through its three core segments, it is targeting 10X revenue growth for 2020.

    NexTech AR Solutions (CSE:NTAR), an augmented reality platform reported record revenues of C$575,000 for fiscal 2019. Year-end net losses footed C$4.6 million, while cash figures dropped from C$2.5 million for 2018 to C$329,000 for 2019.

    As quoted in the press release:

    Total revenue for the year ended May 31st 2019 was $2,002,365 with a gross profit $584,007.

    Company Highlights:

    • August 2019 Revenue was the highest in the companies history with $575,000 in revenue.

    • First quarter numbers will be reported by October 30th 2019.

    • Company is targeting 10X revenue growth for calendar year 2020 and improved margins.

    • Company is targeting to be cash flow positive in the fourth quarter of calendar year 2019.

    • Six new product launches targeted for September of 2019 and continuing quarterly into 2020, will continue to drive growth in its AR e-commerce division.

    Click here to read the full press release.

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