NexTech3D AI Corp (NEXCF)

[MartyFromYahoo]

NexTech AR Solutions Corp., a Metaverse Company and leading provider of augmented reality (“AR”) experience technologies and services announces its unaudited preliminary financial and operating results for the 2021 fiscal year ended December 31, 2021.

In 2021 we saw a substantial uptick in customer adoption of our technology that are either signing 12-month ARR contracts or annual repeat customers totaling $975,000.

The company is seeing this uptick in new customers resulting in additional ARR continuing in 2022!

The 2021 recurring revenue of $975,000 is broken down as follows:

12/31/2021- Annual Recurring Revenue (ARR) was approximately $475,000
Additionally in 2021 the company saw $500,000+ annual repeat business from customers
The above resulted in total Renewable Software Licenses revenue estimated at $1.4 million in 2021 +316% from 2020.

2021 Annual Financial Highlights (unaudited):

Annual Total Revenue $25.9 million (up 47% from 2020)
Product Sales $19.2 million (up 38% from 2020)
Technology Services $5.3 million (up 55% from 2020)
Renewable Software Licenses $1.4 million (up 316% from 2020)
Annual Total Gross Profit $9.8 million (flat with 2020)
Product Sales $8.0 million (up 14% from 2020)
Technology Services $1.8 million (not comparable to 2020 as measured on different basis, see Q3 and annual MD&A for explanation)

The above figures are unaudited and may be subject to change. Audited figures for the year ended December 31, 2021 will be published towards the end of March 2022.