Nextech3D.AI Reports Preliminary 70% Gross Profit Margin in Q2, 2024 Revenue of $1.2 Million

Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a 3D model external content provider for Amazon and a leader in AI-powered 3D modeling technology, has announced its preliminary unaudited financial results for Q2 2024. The company reported strong revenue growth of $1.2 million, up from $1 million in Q1 2024. Nextech3D.AI also achieved a gross profit margin of 70% in Q2, compared to 50% in Q1 and 30% for the entire year of 2023.

The company attributes this success to its strategic move to India in Q4 2023 and advancements in AI technology. CEO Evan Gappelberg highlighted the company's new certification as a 3D modeling partner for Amazon, which is expected to open significant new business opportunities. With the shift to India, Nextech3D.AI has seen a considerable impact on production capacity and profit margins.

As part of its continued growth strategy, Nextech3D.AI is focusing on securing more enterprise deals while Amazon promotes its 3D modeling services to merchants. The company's 3D models for Amazon listings have shown to improve purchase conversion rates, doubling the average ROI. Nextech3D.AI offers seamless 3D model creation and AI-driven 3D texturing, enhancing e-commerce product listings.