Nextech3D.AI CEO reveals explosive 2Q growth as company prepares for breakout 3Q
Vancouver
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August 02, 2023 10:39 AM Eastern Daylight Time
Nextech3D.AI CEO joined Proactive's Stephen Gunnion with details of the company's second-quarter performance, which saw record sales and revenue of $1.4 million as demand for its 3D models soars.
Year-over-year, revenue has surged by 155%, reaching $2.7 million for the first half of the year. Gappelberg predicts a breakout quarter in 3Q with expected revenues of $1.7 to $1.9 million, driven primarily by surging 3D model demand from Amazon and other major clients.
The company's gross profit margin, currently at 38%, is anticipated to rise further and eventually surpass 80%, with the help of their generative AI technology.
Gappelberg told Proactive Nextech3D.AI is well-prepared to meet the increased demand, having recently secured funding to accommodate the growth. He emphasized the importance of the company's developing relationship with Amazon, which represents 70% of the global e-commerce industry. He predicts that the opening of Amazon's Seller Central will unleash substantial demand for 3D models.
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