NeXR Technologies SE publishes 2020 financial figures – Loss reduction - New products pave the way to future growth
Berlin, 30 April 2021
NeXR Technologies SE (XETRA: NXR) today published its financial report for the year 2020. The company could not completely escape the challenging environment influenced by the coronavirus pandemic. As a result, revenues in the reporting period decreased to EUR 0.3 million from EUR 1.2 million in the previous year due to a lack of service orders. Earnings before interest, taxes, depreciation and amortization (EBITDA) improved to EUR -8.8 million compared to EUR -9.4 million in 2020. The loss per share was reduced by more than half to EUR -2.84 from EUR -5.70.
NeXR Technologies quickly adapted its organizational structure and business model to the changed conditions. After corona-related delays in market entries of developed products in the first half of the year, the company showed a modest recovery in the second half of 2020. This was mainly due to the increasing demand for digital alternatives to conventional face-to-face events. NeXR Technologies specifically focused on building two multi-user and multi-purpose platforms. This resulted in four new products, NeXR Fashion, NeXR Fitness, NeXR Show and NeXR Seminar, alongside the already well-established products NeXR Avatar and NeXR Experience, which NeXR can offer its customers in the B2B sector.
These products form the basis for meeting the increasing demand for digital solutions. With NeXR Seminar, for example, face-to-face events can be transferred to a virtual reality environment. This reduces travel costs for organizers and participating companies, while at the same time protecting the environment. With NeXR Fashion, customers can use their personal avatar and an app to search for a precise fitting of clothing and try them on their own avatar. NeXR Show offers the event industry, artists and fans a stage for virtual live concerts via green screen and motion capture technology. In this way, thanks to NeXR technology, essential activities can be maintained even in times of distance.
2020 was the year NeXR Technologies developed its technologies and solutions for a rapidly changing and dynamically growing media market. 2021 is the year of market entry. To this end, the company already has strong cooperation partners on board, including the fashion chain H&M, the RSG Group with its McFit, John Reed and GOLD’S GYM chains, and the financial services provider Montega, who will use the NeXR technology in 2021 in a way that is precisely tailored to their needs.
Therefore, depending on the development of the pandemic and the related containment measures, the management of NeXR Technologies expects revenues between EUR 1.5 million and EUR 3.0 million and a net loss between EUR 12.5 million and EUR 13.5 million due to market launch costs.
“We used the year 2020 for intensive preparation and further development of our product range. With the adapted organizational structure and product strategy, we have created the basis for broadly introducing our technologies to the market in 2021 fiscal year. Initial live projects with our cooperation partners and consistently positive feedback underline the potential of our technologies. The Corona pandemic is radically accelerating digital transformation. We are ideally positioned for this with our product portfolio, meet the high demands of the market and offer our customers real added value,” says Markus Peuler, Managing Director of NeXR Technologies SE.
The Annual Report 2020 of NeXR Technologies SE is available for download at https://www.nexr-technologies.com/publikationen/ in the Investor Relations section.