WISH - Wishpond sees record annual revenue in 2023 increasing 13% over 2022
(NewsDirect)
Wishpond Technologies CEO Ali Tajskandarand CFO David Pais joined Steve Darling from Proactive to present thecompany’s financial achievements for the fiscal year ended December31st, 2023. The company reported record annual revenue of $23.1million for fiscal year 2023, marking a 13% increase compared tofiscal year 2022. In Q4-2023, Wishpond achieved revenue of $6.1million, representing an annualized revenue run-rate of over $24million. This growth was primarily driven by sales of thecompany's next-generation marketing platform, Propel IQ.
Additionally, Wishpond achieved AdjustedEBITDA of $0.8 million in fiscal year 2023, marking the sixthconsecutive quarter of positive Adjusted EBITDA. The company expectsto further accelerate its growth in 2024, driven by increased PropelIQ sales and the launch of SalesCloser AI, a virtual AI sales agentcapable of conducting sales calls and demos in multiple languages withminimal human intervention.
Looking ahead, Wishpond anticipatesan improvement in its cash position in 2024 as revenue continues togrow and the company has fulfilled all earn-outs related to prioracquisitions. The company expresses confidence in its ability to fundfuture growth through cash flow from operations and its $6 millioncredit facility, with additional financing only necessary forexecuting acquisition opportunities.
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