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.
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.