Wishpond Technologies Ltd. reports developments tied to its AI-enabled marketing-focused online business solutions, product portfolio, and public-company capital structure. Recurring news includes operating and financial results, material agreements, shareholder voting matters, governance changes, and balance-sheet actions.
Company updates also cover completed portfolio changes, including the sale of the Viral Loops referral marketing campaign software platform, and the completed SalesCloser transaction, after which Wishpond retained a majority ownership position. These items frame Wishpond as a marketing technology issuer focused on its core AI-driven marketing and sales platform.
Wishpond Technologies (TSXV: WISH) (OTCQX: WPNDF), a provider of marketing-focused online business solutions, has announced the release date for its Second Quarter 2024 Financial Statements. The company will disclose its financial results for the three and six months ended June 30, 2024, before market open on Wednesday, August 21st, 2024. Following the release, Wishpond will host a conference call at 10:00 am PT (1:00 pm ET) on the same day to discuss the results.
The call will be led by Ali Tajskandar, Chairman and CEO, and Adrian Lim, CFO. Interested parties can join the webinar through the provided registration link or dial-in numbers. Participants are advised to connect 5 minutes prior to the call to allow time for any necessary software downloads.
Wishpond Technologies has launched a new rewards distribution program through its Viral Loops platform. This initiative integrates with Stripe Marketplace, Tremendous, and Sendoso, enabling businesses to offer diverse referral rewards like Stripe credits, coupons, and gift cards.
The program aims to enhance average order value (AOV) and customer lifetime value (LTV) by improving customer engagement and overall referral marketing capabilities. CEO Ali Tajskandar highlighted the company's commitment to innovation and customer value enhancement through these integrations.
This new feature is available on Viral Loops' higher-tier plans, such as the Power Plan. The initiative includes marketing efforts like newsletters, new product pages, and webinars in collaboration with partners.
Wishpond Technologies announced its intention to initiate a normal course issuer bid starting July 15, 2024. This bid allows the company to purchase up to 2,707,931 shares, representing 5% of the outstanding shares, through the TSX Venture Exchange. The board believes current share prices do not reflect the company's true value, and repurchasing shares will benefit remaining shareholders by increasing their equity interest. The bid runs until July 14, 2025, and will be funded through company working capital. No shares were purchased in the previous bid period.
Wishpond Technologies has appointed Adrian Lim as its new Chief Financial Officer, effective immediately. Lim, who has been with Wishpond for over three years as Group Financial Controller, will oversee finance, accounting, financial reporting, audit, tax, and capital planning functions. He replaces David Pais, who served as CFO since January 2022. Lim's promotion is subject to TSX Venture Exchange approval. CEO Ali Tajskandar praised Lim's financial expertise, citing his experience with Ernst & Young and BDO Canada. Lim holds a BCom from the University of British Columbia and a CPA designation. He aims to drive Wishpond's strategic growth and innovation.
Wishpond reported Q1-2024 financial results with revenue of $6.1 million, reflecting an 8% increase from Q1-2023.
Adjusted EBITDA improved by 39% to $0.3 million.
The company launched SalesCloser AI in April 2024, an AI-powered virtual sales agent, expected to drive growth alongside Propel IQ.
Gross profit grew by 12% to $4.13 million, and the gross margin increased to 68%.
Wishpond anticipates accelerated growth in H2-2024, with a focus on expanding sales of Propel IQ and SalesCloser AI.
As of March 31, 2024, the company had $2.09 million in cash but experienced a net cash decrease due to earnout payments and investments.
Wishpond Technologies has announced that it will release its First Quarter Financial Statements for the period ending March 31, 2024, on May 22, 2024, before the market opens. This will be accompanied by a management discussion and analysis.
A conference call to discuss these financial results will be held at 10:00 am PT (1:00 pm ET) on the same day. The call will be hosted by CEO Ali Tajskandar and CFO David Pais. Participants can join via webinar registration or dial-in using the provided numbers and Meeting ID.
Summary not available.
Summary not available.
Summary not available.
Summary not available.