Nextech AR Solutions Corp is experiencing record demand for 3D models in the fourth quarter, and it shows no sign of slowing down in 2023, the company said.
The “3D model mega trend” is gaining traction, Nextech said, and the company has recently closed new 3D modeling deals along with reorders and expanding existing contracts.
That, in turn, is driving demand for Nextech’s ARitize 3D technologies for e-commerce. The company expects $700,000 worth of 3D model orders to be delivered in the fourth quarter. Additionally, several quotes have been issued for large requests for proposals from big box retailers, which could close this quarter as well.
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Specifically, the company said that Sirclo, an eccomerce solutions enabler with more than 25 million end-to-end customers working with over 150,000 brands, renewed its annual subscription for a variety of SKUs (stock keeping units).
Prineta, an ATM placement and management company, has also renewed its annual subscription. This follows recently announced news involving other specialty product retailers, including As Good As Gold Australia, Top Meteorite, Vornado and William Wood Mirrors, showcasing the complexity and details that Nextech’s 3D models are able to provide.
That even extends to sports equipment. Skate One, a skateboard manufacturer out of California, renewed its annual subscription for a variety of skateboard SKUs, and Bunnings Group has signed on for 3D models of its bicycle line.
Other areas of growth include home goods, footwear, hardware, flooring and specialty outdoor furniture, the company said .
The company plans to release its third-quarter financial results after market close on November 17.
Preliminary results announced last month revealed that revenue for the quarter was approximately $3 million, and total profit clocked in at about $1.25 million. Within that, 3D modeling revenue surged 170% compared to the second quarter.
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