NexTech AR Reports Record Revenues of C$575,000

- October 3rd, 2019

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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