By Karen Roman
Nextech3D.AI Corp. (OTCQX: NEXCF | CSE: NTAR | FSE: EP2) said fourth quarter total revenue soared 207% to $939,000 compared to the year prior.
Gross profit grew 263% to reach $858,000 in the fourth quarter compared to the year prior, while gross margin reached 91.3% compared to 95% in the third quarter, the company stated. Nextech3D.ai is also experiencing sequential growth momentum, with an approximately 101% rise in revenue in the fourth quarter against the third quarter, it said.
The company said it increased revenue scale and improved cost efficiency while it implements its software-first strategy, AI-powered platform strategy.
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“These results reflect the impact of our restructuring and our increased focus on software-based offerings,” said Evan Gappelberg, Nextech3D.ai CEO. “We continue to focus on execution, improving efficiency, and expanding our product capabilities.”
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Nextech3D.ai added that future performance will depend on factors including customer adoption, market conditions, competitive dynamics, and the company’s ability to execute on its strategic initiatives.
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