The following is a transcription of the above video, and The Market Online has edited it for clarity.
Nextech3D.ai (CSE:NTAR) is rapidly making gains via its proprietary artificial intelligence that creates 3D models and is being utilized in major e-commerce settings. Nextech3D.ai has created nearly 100,000 3D models for Amazon with its proprietary artificial intelligence.
Here with the latest on its contract with Amazon (NDAQ:AMZN) is CEO Evan Gappelberg.
Gappelberg: Great to be back. I just want to reiterate, July 16, Nextech came out with an approved press release that we were selected as Amazon’s 3D model external content provider or ECP. That was a very big deal for us that put us on the map where we now have a prestigious designation which really underscores our exceptional technical proficiency and leadership in the realm of 3D model making.
To be able to achieve that was no small feat, and so we’ve been talking about getting onto Amazon’s platform and Seller Central, and I’m pleased to report that actually Amazon has gone live. This is public facing Amazon, Seller Central, you could see SPN imaging in the United States of America. If you look at down here, you have 3D, so you could search there. We are now in the number one slot and so when you click on that as a merchant, you’re taken to our landing page.
As you can see, we are the only AI driven 2D to 3D patented technology, which is a critical differentiation for us versus the other Amazon 3D model suppliers. We also could take CAD files and turn them into 3D models or 2D images. So, it’s live. We’ve already gotten our first customer in the door yesterday and we’ve been talking about this for months, if not years, and now it’s finally live. It is beta, so it’s not even fully formed yet, but it is live on the Amazon platform and I do want to share this with our investors. Amazon themselves will put out a press release when they’re ready, but we are sharing what’s public, what’s publicly available.
The only reason we actually even found out about this is because of the customer that came to us, and we said, “Well, how’d you find us?” And they said, “Amazon Seller Central.” So it’s quite an exciting time. It’s a big milestone for our company, and we’re very, very proud to share it with our shareholders.
TMO: Congratulations. That’s a big step. Now, when we last spoke, Nextech had created nearly 100,000 3D models. How has that growth curve been moving?
Gappelberg: It’s been moving up. We continue to make thousands of 3D models every single month, so it just keeps on going. And the goal was always to get to Seller Central where there’s 10 million merchants, there’s 300 million products on the Amazon platform, and so we really wanted to see this open up. We consider it the floodgates and we’ll see, right? It’s just starting and that’s really going to drive our demand as we go forward in 2025 and beyond.
TMO: What do the profit margins look like?
Gappelberg: The profit margins are exceptional. We’re pushing 80% gross profit margin and that’s a big deal. We actually think that that’s going to get even better. Why? Because we’re launching our photography studio, which is Pure software. The margin on that is almost 95%, where if you make a 3D model with Nextech, we offer you a package now where you would get four to eight photos. The photos cost $5 each, so you’d have north, south, east and west view of a product and the photos are 4K.
You can’t get better, and we offer it with solid backgrounds, which Amazon prefers just a white background but we also have lifestyle images where we can put the actual 3D model in a scene. We actually can charge anywhere from $15 to $25 for that, and so there’s a big opportunity for us to increase our profit margins with our photography studio.
TMO: As partnerships continue to evolve, are there any e-commerce companies you feel are a great fit for Nextech’s 3D tech?
Gappelberg: We’re constantly looking for partnerships and new blue-sky opportunities. We’re always talking to some of the biggest companies in North America.
There’s a lot of demand for 3D models, but it does take time to forge these partnerships. It took us two years to get Seller Central open, so these things take a long time, especially when you’re dealing with new technology. So, our investors just need to be patient.
TMO: Is there anything else you would like to highlight? Where is the shareholder value for investors at this point?
Gappelberg: At this point, the stock has come down quite a bit. We are at all-time lows, which is quite interesting considering Amazon is now starting to be a bigger part of our future, where it’s really the dawn of a new day, a new era.
Just keep in mind, Mr. and Mrs. Investor, before this week, Amazon did not offer Nextech or any of the other service providers to their 10 million merchants. This is the beginning of a new era for not just Nextech, but also for Amazon, where they’re now offering 3D model-making services on their platform.
There’s only a handful of companies that they’ve selected for this. Nextech is one of them, and we expect to take full advantage of that, and we see that as the major growth opportunity for our business and for our shareholders.
You can find Nextech3D.ai on the CSE under the symbol NTAR, or head to its website at Nextech3D.ai or at Stockhouse.com.
Company shares were last trading at $0.085.
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