Investors may want to pay close attention to the 3D mapping and modeling market. The global visualization and 3D rendering software market is set to total $6.3 billion in 2026, up from $2.9 billion in 2022, according to Global Industry Analysts. Businesses will rely heavily on visuals to meet customer expectations. Coresight Research analysis reports that the rapid rise of e-commerce, social channels and the metaverse has led to a constantly growing need in retail for product visuals across digital shopping channels and formats. Compared with photorealistic CGI, traditional photography is more expensive, time consuming and logistically complex. Photorealistic CGI makes quicker speed to market possible by using 3D models, which enables easier editing and adjustment of assets, even at later stages. It is even possible to create images of product content without physical product content. Photorealistic CGI also helps brands and retailers reduce product returns by providing customers a better sense of what they are purchasing. According to Shopify, the 3D modeling market is seeing a rapid rise in demand due to increased massive ROI with a 250% increase in conversions and a 40% increase in returns for ecommerce and creating more engaging virtual environments.
Thus, the emergence of 3D augmented reality technology is likely to open up significant prospects in the 3D mapping and 3D modeling market growth.” All could be beneficial for companies such as Nextech AR Solutions (OTCQB: NEXCF) (CSE: NTAR), Vuzix Corp. (NASDAQ: VUZI), Tesla (NASDAQ: TSLA), Apple (NASDAQ: AAPL), and MINISO Group (NYSE: MNSO).
Look at Nextech AR Solutions Corp. (OTCQB: NEXCF) (CSE: NTAR), For Example
Nextech AR Solutions Corp A Metaverse Company and leading provider of augmented reality wayfinding technologies, and 3D model services for the largest prime ecommerce platform, reports its financial and operating results for the third quarter 2022 ended September 30, 2022.
2022 Q3: 3D Model and Technology Services Financial Highlights
– Q3 technology services revenue up +66% from Q2 2022 hitting approximately $920K
– Q3 3D modeling revenue surges over +192% versus Q2 2022
– Q3 3D model production increased +110% versus Q2 2022
– Q3 technology services gross profit margin improves to +60% versus 37% in Q2 2022
– Q3 gross profit was approximately $555K on 920K in Q3 technology revenue with a gross profit margin of 60%
“Q3 was a transformational quarter for Nextech AR, as demand, production and our revenue from 3D modeling has significantly ramped up. This is evident with our sequential production of 3D models up by over +110% and our sequential revenue of 3D models up by over +192% over Q2. Our Q3 figures are showing that our 3D modeling revenue is now growing exponentially. He continues, “With the announcement of a $700,000 3D model order to be delivered in Q4, we are confident that Q4 will be another record quarter for Nextech. As it is still quite early in Q4, we do expect to announce additional significant orders in the coming weeks as demand and our production capabilities will only continue to increase into Q4, 2023 and beyond.”
2022 Q3 Totals
– Total revenue for the quarter was $3 million
– Total gross profit for the quarter was approximately $1.34 million
2022 Q4 Outlook
– $700,000 3D model order to be delivered in Q4, 2022
– Several quotes have been issued for large RFPs, which could close in Q4 2022
– Ramp up of 3D model production to meet the growing demand from the largest Prime ecommerce marketplace as well as re-orders, sets the stage for a substantial increase in 3D model production in Q4, 2022 and continuing in 2023
Trading in ARway (CSE: ARWY) (OTC: ARWYF) began on October 26, 2022. With a current market price of approximately $2 per share, Nextech’s 13 million share ownership is valued at about $26 million.
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
Other related developments from around the markets include:
Vuzix Corp., a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products, reported its third quarter results for the period ended September 30, 2022. “During the third quarter, we achieved both sequential and year-over-year double-digit total revenue growth despite numerous headwinds,” said Paul Travers, President and CEO. “We made strong progress in the quarter in terms of product development, technology advancement and new business engagements. On the OEM side of our business, we are now in discussions with many new potential defense, consumer electronics and enterprise customers who are interested in our waveguide and display engine solutions. At the same time, larger deployment opportunities for our smart glasses among key enterprise customers continue to expand both in number and visibility within the warehousing and logistics, automotive, pharma and healthcare verticals. Lastly, and subsequent to the close of Q3, we are also very pleased to have completed the acquisition of Moviynt, a key part of our strategy toward becoming more of a software solutions provider in certain vertical markets.”
Tesla produced over 365,000 vehicles and delivered over 343,000 vehicles. Historically, our delivery volumes have skewed towards the end of each quarter due to regional batch building of cars. As our production volumes continue to grow, it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks. In Q3, we began transitioning to a more even regional mix of vehicle builds each week, which led to an increase in cars in transit at the end of the quarter. These cars have been ordered and will be delivered to customers upon arrival at their destination.
Apple announced financial results for its fiscal 2022 fourth quarter ended September 24, 2022. The Company posted a September quarter record revenue of $90.1 billion, up 8 percent year over year, and quarterly earnings per diluted share of $1.29, up 4 percent year over year. Annual revenue was $394.3 billion, up 8 percent year over year, and annual earnings per diluted share were $6.11, up 9 percent year over year. “This quarter’s results reflect Apple’s commitment to our customers, to the pursuit of innovation, and to leaving the world better than we found it,” said Tim Cook, Apple’s CEO. “As we head into the holiday season with our most powerful lineup ever, we are leading with our values in every action we take and every decision we make. We are deeply committed to protecting the environment, to securing user privacy, to strengthening accessibility, and to creating products and services that can unlock humanity’s full creative potential.”
MINISO Group Holding Ltd., a global value retailer offering a variety of design-led lifestyle products, announced its unaudited financial results for the first quarter of fiscal year 2023 ended September 30, 2022. Revenue was RMB2,772.4 million (US$389.7 million), representing an increase of 4.5% year over year and 19.6% quarter over quarter. Gross profit was RMB988.6 million (US$139.0 million), representing an increase of 35.7% year over year and 28.1% quarter over quarter. Gross margin was 35.7%, compared to 27.4% in the same period of 2021 and 33.3% in the previous quarter. Operating profit was RMB509.5 million (US$71.6 million), representing an increase of 138.6% year over year and 87.3% quarter over quarter. Profit for the period was RMB404.1 million (US$56.8 million), representing an increase of 161.5% year over year and 93.9% quarter over quarter. Adjusted net profit was RMB417.4 million (US$58.7 million), representing an increase of 126.6% year over year and 87.3% quarter over quarter. Adjusted net margin was 15.1%, compared to 6.9% in the same period of 2021 and 9.6% in the previous quarter.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Nextech AR Solutions Corp. by Nextech AR Solutions Corp. We own ZERO shares of Nextech AR Solutions Corp. Please click here for full disclaimer.