Nextech3D.AI (NEXC) Q3 2024 earnings summary

Executive summary

• Reported year-to-date revenue of $2.9 million and gross profit of $1.88 million as of Q3 2024.

• Q3 2024 revenue reached $756,476 with a gross profit margin of 71% ($537,503).

• Became an Amazon Certified 3D Content Provider and launched 100% AI-generated FOTOgpt.ai Toggle Studio.

• Issued a new 2D-3D patent (#11,948,248), strengthening proprietary technology.

Financial highlights

• Q3 2024 revenue was $756,476, contributing to YTD revenue of $2.9 million.

• Gross profit for Q3 2024 was $537,503, with a gross margin of 71%.

Outlook and guidance

• 3D modeling business continues to face momentum challenges due to increased global competition.

• Cautious optimism for future demand from Amazon as a certified 3D model supplier.

• FOTOgpt.ai, an AI photography studio, is set to launch in December 2024, expected to drive growth.

• ARway.ai, in which Nextech owns 15 million shares, is generating significant revenue and cash flow, with new AI features anticipated to boost sales.