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CEO’s of Vroom, Cloudflare, NexTech and Chegg Discuss New Paradigms in ECommerce, EdTech, Cloud, AI, AR, and Virtual Events

Wall Street Reporter

NEW YORK, Aug. 25, 2020 (GLOBE NEWSWIRE) -- Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from CEO’s of Vroom (NASDAQ:VRM), NexTech AR Solutions (OTC: NEXCF), Cloudflare (NYSE:NET), and Chegg (NYSE: CHGG).

Cloudflare, Inc. (NYSE:NET), CEO Mathew Prince “Building A Better Internet”
Earnings Call Highlights: https://bit.ly/3lhy3Tm

NexTech AR Solutions (OTC: NEXCF) (CSE: NTAR) CEO Evan Gappelberg: “Positioned for Exponential Revenue Growth”
Conference Video: https://bit.ly/2QpW50c

Vroom, Inc. (NASDAQ:VRM), CEO, Paul Hennessy: “Building Dominant Digital Car Retailer”
Earnings Call Highlights: https://bit.ly/3aX38ql

Chegg, Inc. (NYSE: CHGG), CEO Dan Rosensweig: "Digital Transformation of Education Fully Underway”
Earnings Call Highlights: https://bit.ly/2YxtESd

Highlights of CEO comments from latest earnings calls and investor conferences:

Vroom, Inc. (NASDAQ:VRM), CEO, Paul Hennessy: “Building Dominant Digital Car Retailer”
“..It has also been an extraordinarily valuable quarter for us, as it allowed us to learn so much about the capabilities of our business model, our operations, our employees, nearly all of them validating. Hard learnings have reinforced our belief that we are well on our way to building a business that can be a dominant digital car retailer in the coming years. At our core, we are a data-driven, demand-driven company. It informs how we buy cars, how we price our cars, how we invest in the reconditioning of our cars, and how we market our cars. We didn't build these tools to conduct fire sales, but frankly, that's the best analogy of what we were doing in late March and into the first half of the second quarter. We not only stopped buying new inventory, we methodically, dynamically and carefully priced our inventory to move very quickly. We did so in a way that protected our company and our balance sheet, while also very clearly stimulating demand for our cars.

“...In the digital world, inventory equals unique content. Each and every car that we carry and sell is like a snowflake, not a single one the same as any other different color, different make, different mileage, different age, different state of condition. And for us, the more content that we have, the better our ability to line up the specific customer who is looking for that specific content and therein is how a digital flywheel is born. Content begets conversion. Conversion begets success and high NPS. High NPS begets inventory turns in gross profit. And inventory turns in gross profit to get more and more content, throw in repeating customers from prior delightful transactions and massive multiyear digital and media brand building to help lower the marginal costs of finding our customers over time. And you can see how and why we are so excited about what's ahead in the coming years…”
Vroom, Inc. (NASDAQ:VRM) Earnings Call Highlights, available at: https://bit.ly/3aX38ql

NexTech AR Solutions (OTC: NEXCF) (CSE: NTAR) CEO Evan Gappelberg: “Positioned for Exponential Revenue Growth”
In a recent presentation at Wall Street Reporter's "Next Super Stock" livestream investor conference, NexTech CEO Evan Gappelberg and President Paul Duffy, shared with investors how NexTech, video conference and AR solutions are displacing the $150 billion tradeshow and meeting market, as more enterprise, educational, and government turns to virtual events.  (The global virtual events market in 2020 is $90 billion, according to Grandview Research). NEXCF virtual meetings, and AR technology is now being deployed in EdTech applications at major universities. Not to be overlooked is NEXCF’s substantial e-commerce business which utilizes Augmented Reality solutions to optimize customer experiences, and selling rates, which has now expanded by adding major global brands.
Watch NexTech (OTC: NEXCF) 8/21 NEXT SUPER STOCK conference video: https://bit.ly/2QpW50c

August 25 - NEXCF named SAP executive Eugen Winschel as Chief Operating Officer. Eugen Winschel is an 18 year veteran at SAP, where he  was Global Vice President business Leader at SAP, and an expert in AI. Winschel has an extensive track record of proven success. In his previous positions with SAP as Global Vice President, he completely transformed the size and experience for global and regional events, digitized the physical world with IoT technology, delivered the first Enterprise Artificial Intelligence solution by using Machine Learning and Natural Language Processing, and ran multiple corporate-wide growth and efficiency initiatives.
In his new role with NexTech, Winschel will be responsible for scaling the company from a 70 person organization into a global powerhouse of 700 people or more, for next-generation augmented reality and video conferencing solutions. With the hiring of Winschel, NexTech expands its organizational capabilities as it rapidly grows and scales from being a visionary startup.

August 20 - NEXCF completed a C$13,200,000 prospectus offering, to fuel its next growth phase.

August 17 - NEXCF announced a major product line expansion which takes it from selling just one major brand - Miele - to now adding seven consumer brands, including, Dyson, Philips Norelco, MR. Coffee, VitaMix, Breville and Cuisinart. These new distribution deals position the company to take full advantage of the new SFH (shop from home) paradigm shift in e-commerce as well as leverage its full augmented reality technology stack into these brands, which includes its WebAR, ARitize360 app and its 3D/AR advertising network. The company expects these new products to have a significant impact on future revenues. Evan Gappelberg, Chief Executive Officer, NexTech AR noted "Up until 60 days, Miele accounted for the majority of our AR ecommerce business. Now with seven major new brands and more in the works, we are exponentially increasing our AR e-commerce revenue potential.”

July 30 - NEXCF announced a new contract with Ryerson University to provide InfernoAR Augmented Reality Remote Learning Solutions, with an initial focus on first year Chemistry, Biology and Physics students from the Faculty of Science at Ryerson and enable over 5,000 students to participate in rich, collaborative AR enhanced learning experiences during the Fall and Winter Terms. Ryerson University of Toronto, Canada has over 46,000 students.

July 8 - NEXCF announced it has filed to up-list its shares to NASDAQ.

Watch NexTech (OTC: NEXCF) 8/21 NEXT SUPER STOCK conference video: https://bit.ly/2QpW50c

Click here to join the next livestream: https://bit.ly/2PX0SpH

Cloudflare, Inc. (NYSE:NET), CEO Mathew Prince “Building A Better Internet”
“...We believe the pandemic force companies distort their vendors into two buckets, nice to have and must have. All indications from the quantitative metrics we’re watching as well as the qualitative conversations we’re having with customers are that Cloudflare is squarely in the must have bucket…new customers, segments that have traditionally been slow to adopt the cloud are increasingly embracing their digital transformation and turning to us for help. In Q2, we saw particular strength in Europe, industrial companies and small businesses. Those are not the first three segments you think about when you think about cloud adoption. And yet COVID has caused even those segments of customers that traditionally are slow to change to adapt in order to survive. The nimbleness of our go-to-market team and our short sales cycles have allowed us to adjust our playbook and be there for new customers in these segments, as they unexpectedly accelerated their digital and network transformation plans.”

“We’ve blocked 37% more cyber attacks per day for the same cohort of customers in Q2 than Q1. I think of that metric as our cyber attack equivalent of same-store sales. You include new customers to growth in mitigated attacks with 53%, when companies based online cyber threats, they increasingly turn immediately to Cloudflare.”

“...I emphasized that great companies use crises to focus on what’s most important, but also to invest in the future, while others pull back. Our team rose to that challenge. It’s been incredible to see the rate of innovation that has continued and in fact, accelerated, even as we’ve had to adapt to a new work environment. One place you can measure that investment is in hiring. Unlike many others in the industry, we did not slow down. We hired 257 new team members in Q2, which is a record for us and ahead of our hiring plan.  When 18 months from now you hear about some incredible new feature or a big customer win know that the investment in the people who made that happen came during this time, when we stepped on the gas, while others were pumping the brakes…”

“Our strategy from the beginning has been, how can we get customers onto our network? How can we get traffic flowing through our network? Learn from what that is, and then help migrate customers to use more and more of our platform... A very consistent play that we’re running right now is, we may be helping somebody with their basic firewall application. But we see that they are experiencing a lot of automated bot traffic. We can do analysis on that bot traffic and then recommend that as an additional solution to them. And so that is helping us expand across those customers. The second part is much less technical, but just simply that we’ve really built trust as a provider that offers an enormous and very compelling return on the investment that they’ve made. And so that allows us with that trust to go back to them get introductions inside of the organization, let our sales team move laterally and build much long-term and dynamic relationship driven sales. ..We really think that the secret of Cloudflare is that one plus one equals three. And I think that what you’re seeing in the market and what you’re seeing from our customers is that we’re seeing that same pattern happened over and over again. One thing, that’s been really interesting has been how quickly that’s happening...”
Cloudflare (NYSE:NET) Earnings Call Highlights, available at: https://bit.ly/3lhy3Tm

Chegg, Inc. (NYSE: CHGG), CEO Dan Rosensweig: "Digital Transformation of Education Fully Underway”
“A crisis often accelerates the inevitable and that is what we are seeing happening now in higher education. The reality is students who are already learning online, were under supported by their schools who had diminishing budgets, so that the need for virtual learning support was already expanding...Almost overnight, when schools around the world had to move 100% online, that trend accelerated and has revealed the true potential and the value of what Chegg has to offer. The numbers say it best, and what they reflect is that students have an even greater need for high-quality, low-cost, personalized, and adaptive online education to help them learn and master their curriculum….As we think about the lasting impact on the future of higher education globally, we see these trends continuing.
“We saw a marked increase in engagement from our existing subscribers and we're seeing a meaningful increase in the take rate of our new Chegg Study Pack much early than we expected.”
Chegg, Inc (NYSE: CHGG) Earnings call highlights available at https://bit.ly/2YxtESd

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