WPNDF - Wishpond sees revenue growth posting 5th straight quarter of positive adjusted EBITDA

(NewsDirect)

Wishpond Technologies CEO Ali Tajskandarand CFO David Pais joined Steve Darling from Proactive to present thecompany’s financial achievements for the third quarter and the firstnine months of 2023.

Wishpondreported a rise in quarterly revenue to $5.7 million in Q3-2023, upfrom $5.4 million in the corresponding period the previous year. Thisgrowth was attributed mainly to organic factors, including heighteneddemand for products, escalated sales and marketing efforts, and theintroduction of new products.

Thecompany also recorded a Gross Profit of $3,825,821 in Q3-2023, markingan improvement over the same quarter in 2022. Moreover, Wishpondsustained a positive Adjusted EBITDA for the fifth consecutivequarter, hitting $0.3 million.

CEOTajskandar informed Proactive that Wishpond is on track for a strongfinish to the year, anticipating a robust fourth quarter. Heattributed this optimism to the period of transition during the firstnine months when the company introduced Propel IQ, theirnext-generation marketing platform. After a phase dedicated toretraining the sales force, the company is now witnessing an upswingin Propel IQ sales and is in the process of expanding its sales team.

CFO Pais added to the optimistic outlook, forecasting thatWishpond is on course to achieve record revenue and Adjusted EBITDA in2023. He also projected this trend to continue into 2024, withexpectations of increased Monthly Recurring Revenue, driven by bothorganic growth and strategic acquisitions.

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Proactive Canada

+1 604-688-8158

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