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NEXCF: Nextech Continues Its Transition to AR and Metaverse Pure Play in Q2

Benzinga Real-time News ·  Aug 24, 2022 08:34

By Lisa Thompson

OTC:NEXCF

READ THE FULL NEXCF RESEARCH REPORT

Q2 showed further progress in Nextech's (OTC:NEXCF) journey to become a pure play in Augmented Reality, 3D Modeling and the Metaverse. It major revenue provider, eCommerce sales, continued its decline with the company vowing to wind down the operation by year end and taking a write off this quarter for goodwill and intangibles.

Nextech is working to build a SaaS business with high recurring revenue. As of June 30th its subscription revenue for all existing contracts as of June 30th, excluding non-recurring fees, and with a subscription term of one...

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