Berlin, 30 April 2020
NEXR Technologies SE (XETRA: 99SC) today published its financial report for the year 2019. The expert for virtual reality (VR) and augmented reality (AR) applications has succeeded in growing sales and improving earnings.
Revenues in the 2019 reporting year rose to EUR 1.2 million, compared to EUR 0.3 million in the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) improved to EUR -9.4 million after EUR -11.1 million in the previous year. On balance, the net loss for the year decreased to EUR -13.3 million from EUR -22.0 million in 2018.
The consistent strategic realignment in combination with measures taken to increase efficiency took effect in 2019. On the one hand, the number of employees was adjusted to the market conditions. At the end of 2019, the number of employees was 66 compared to 107 in the previous year. On the other hand, strategic measures such as focusing on the core business and segmentation into three business units, which operate under their own brand names with 3D Instagraph (3D scanner systems), OnPoint Studios (Motion Capture) and VRIDAY (VR Experiences), took effect.
Each individual business unit was able to successfully implement its first strategic projects in 2019 and beyond the reporting period. These include the launch of FC BAYERN VR EXPERIENCE, the completion of the development of 3D INSTAGRAPH Fusion III and its world premiere in January 2020 at the Consumer Electronics Show (CES) in Las Vegas, as well as innovative animations for music videos or games. But NEXR is not only receiving positive feedback from the entertainment sector. Technologies and services such as scans and digital avatars can be used in numerous user industries. For example, in the fashion and fitness industry to find suitable looks or document training progress.
The rampant coronavirus pandemic and the associated restrictions make it difficult to make a valid forecast for the current fiscal year 2020. The cancellation of trade fairs and personal customer appointments have a significant impact on marketing and sales activities. If the measures taken by the German federal government to contain the virus continue to be effective, the management expects revenues of around EUR 0.5 million and an expected net loss of around EUR -13 million for the year 2020.
The annual report 2019 of NEXR Technologies SE is available for download at nexr-technologies.com in the Investor Relations section.