Nextech3D.AI reports preliminary Q2 revenue of $1.2M, up from $1M in Q1

Nextech3D.AI announces its preliminary unaudited financial and operating results for Q2 2024, ending June 30, 2024. These results indicate strong revenue growth of $1.2 million, up from $1 million in Q1 2024. The company is experiencing operational leverage, with a gross profit margin of 70% in Q2, compared to 50% in Q1 and 30% for the full year 2023. The company’s strategic pivot to India in Q4 2023 and advancements in its AI technology are projected to boost its gross margin to 80% in 2024. Nextech3D.AI CEO and founder Evan Gappelberg commented, “We are pleased with our Q2 preliminary results, especially our 70% gross margin, which marks a new high for our company. As a newly certified 3D modeling partner for Amazon, the largest e-commerce platform, we anticipate significant new business opportunities from this pivotal certification. Moving operations to India has positively impacted our production capacity and profits, with consistent profit margins of 70%, a 133% increase compared to our 30% margins in 2023.”