Company is Targeting 10X Revenue Growth in FY 2020
NEW YORK and TORONTO, Oct 03, 2019 — NEW YORK and TORONTO, Oct. 03, 2019 — NexTech AR Solutions Corp. (the “Company”) (OTC: NEXCF, (cse:NTAR) is a rapidly growing AR technology company targeting three multi-billion dollar verticals in the AR industry which all drive revenue from its omni-platform called “Aritize”.
The Company is pleased to announce its annual year-end results for the year ending May 31, 2019. Additional information and the Company’s Management’s Discussion and Analysis and Financials may be found on the company’s website (www.nextechar.com) and on its SEDAR profile page.
All numbers are in Canadian Dollars:
Total revenue for the year ended May 31st 2019 was $2,002,365 with a gross profit $584,007.
- August 2019 Revenue was the highest in the companies history with $575,000 in revenue.
- First quarter numbers will be reported by October 30th 2019.
- Company is targeting 10X revenue growth for calendar year 2020 and improved margins.
- Company is targeting to be cash flow positive in the fourth quarter of calendar year 2019.
- Six new product launches targeted for September of 2019 and continuing quarterly into 2020, will continue to drive growth in its AR e-commerce division.
About NexTech AR Solutions Corp.