Nextech3D Ai Corp

Good afternoon, ladies and gentlemen. Welcome, everyone, to the NextTest3D.ai Q1 2023 results conference call. All lines have been placed on mute to prevent any background noise. And after the speaker's remarks, there will be a question and answer session. Instructions will be provided at that time for you to queue up for your questions. I'd like to remind everyone that this call is being recorded on today, Thursday, May 18, 2023. And I'll now turn the call over to Ms. Lindsay Betts, Investor Relations

Hello and welcome to the Nextech Q1 2023 earnings call. With me on the call are Evan Gabelber, Chief Executive Officer, and Andrew Chan, Chief Financial Officer. Today, after markets closed, Nextech3D.ai released its unaudited financial and operating results for its first quarter ended March 31, 2023. A copy of the earnings disclosure will be available on our website and on CDAR once our audit is complete. Some of the information discussed on this call is based on information as of today, May 18, 2023, and contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those set forth in such statements. For a discussion of these risks and uncertainties, you should review the forward-looking statements disclosure in the earnings press release as well as in our CDAR filings. During this call, we will discuss the IFRS results and key performance indicators. A detailed description of our key performance indicators will be available once our audit is complete and our MD&A is filed on CDAR. Neither this call nor the webcast archives may be recorded or otherwise reproduced or distributed without prior written permission from Nextech. To begin our call, Evan Gappelberg, CEO, will discuss Q1 2023 highlights, as well as recent business developments, followed by Andrew Chan, CFO, who will review our financial results and outlook. Finally, Evan will provide closing remarks before opening up the line for a question and answer period. I'll now turn the call over to CEO and founder of Nextech3D.ai, Evan Gappelberg.

Thank you, Lindsay. So today we reported a surge in our year-over-year 3D modeling business with 550% growth, record revenue for the first quarter in 2023. We, in Q1, had multiple breakthrough generative AI patents filed. We delivered over 20,000 3D models to Amazon, and we saw our technology services revenue grow sequentially by 40%. So I would say that Q1 was a solid quarter by all measurements. And when I look at today's numbers, they really are just the beginning of our new growth curve, as we are perfectly positioned to ride the $100 billion 3D modeling growth wave for the next decade and beyond. If you look at 2023, it is a very, very interesting year. Microsoft has invested $10 billion into their investment in OpenAI. And obviously, ChatGPT is the first breakout and breakthrough in this world of AI. It's the first major AI application. The key point is that Microsoft invested a billion dollars in open AI before they had even a working prototype because of the immense potential. Then they invested another $10 billion at a $28 billion valuation, and they were only generating around $3 million in revenue. That's 9,000 times sales. That's extraordinary valuation. We did $3 million. in revenue in 2022. The key point is that I believe that as an AI company, Nextech is severely undervalued. And it's primarily in my view because we are under the radar. We are a small cap. We have no institutional sponsorship. But I would say to our investors that that can change. That can change very, very rapidly. with an uplisting to NASDAQ or the New York Stock Exchange, which should not be ruled out of the realm of what's possible. In the world of AI, the question comes up a lot, is AI the new electricity? Is AI this new form of intelligence that the world has never seen? Is AI going to be as persuasive and pervasive as the internet? These questions I read in the news and I'm sure you do too on a daily basis. The answer is a definite yes and a whole lot more. The opportunity presented by AI is vast. Late last month at NVIDIA's annual GPU technology conference, the CEO, Huang, acknowledged this pivotal time for AI technology, calling it the iPhone moment for AI. AI, however, is not a new technology.