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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 Ltd. (OTCQX: WPNDF) announced it will release its First Quarter Financial Statements for the period ending March 31, 2022, on May 26, 2022, before market open. A conference call will follow at 10:00 am PT to discuss the results, hosted by CEO Ali Tajskandar and CFO David Pais. Wishpond offers an integrated marketing suite for small and medium-sized businesses, operating under a subscription-based SaaS model, enhancing revenue predictability.
Wishpond Technologies Ltd. reported record monthly recurring revenue (MRR) for April 2022, driven by robust organic growth across its businesses. The PersistIQ sales automation subsidiary and new acquisitions like Winback and Viral Loops contributed to this success. Despite macroeconomic challenges, Wishpond is poised for continued growth with increasing revenues and improving cash flows. The company has also initiated cost optimization measures. Notably, Wishpond announced earn-out payments related to its acquisitions, highlighting its flexible financial strategy.
Wishpond Technologies Ltd. reported record financial results for fiscal 2021, achieving annual revenue of $14.76 million, up 87% from 2020. Fourth quarter revenue reached $4.67 million, marking a 107% increase year-over-year. The company's Adjusted EBITDA rose to $490,873 for Q4-2021. However, Wishpond recorded an operating loss of $3.15 million for 2021. The company has successfully integrated recent acquisitions, including Winback, and anticipates further growth through additional acquisitions and organic strategies in 2022.
Wishpond has successfully integrated its acquired Winback assets, achieving a 50% increase in clients since January 2022. This performance highlights Winback's growth potential within Wishpond's services and sales framework. The platform, which specializes in SMS marketing for eCommerce, notably enhances revenue opportunities for businesses, particularly through abandoned cart campaigns. New features have been introduced to improve functionality. Overall, the integration positions Winback as a significant contributor to Wishpond's strategic goals.
Wishpond Technologies Ltd. (TSXV: WISH, OTCQX: WPNDF) announced the release date for its Audited Annual Financial Statements for the fiscal year ended December 31, 2021. The statements will be released on April 27, 2022, followed by a conference call scheduled for the same day at 10:00 am PT (1:00 pm ET). The call will feature key executives including Ali Tajskandar, CEO, and David Pais, CFO. Wishpond aims to empower entrepreneurs with an 'all-in-one' marketing suite, serving over 3,700 SMB customers, primarily through a subscription-based SaaS model.
Wishpond Technologies Ltd. (OTCQX: WPNDF) has acquired Viral Loops, a referral marketing software platform, for approximately US$2.3 million. This acquisition, effective April 1, 2022, includes an upfront payment of US$1.38 million and a performance-based earn-out of US$920,000. Viral Loops serves over 700 customers and is EBITDA positive, contributing to Wishpond's growth strategy by enhancing its product offerings and providing cross-sell opportunities to its customer base of over 3,000 small to medium-sized businesses.
Wishpond Technologies Ltd. announced that its subsidiary, Brax, has partnered with ROI Marketplace LLC, a top native advertising agency. This partnership aims to enhance Brax's platform by migrating ROI's customer base and incorporating insights from ROI's CEO, Joe Burton, into product development. Additionally, Brax has completed integration with MGID Inc., expanding its reach to over 32,000 publishers and enhancing its advertising capabilities. The integration includes features like direct management of MGID ad spend and built-in optimization tools, furthering Wishpond's growth in digital marketing solutions.
Wishpond Technologies Ltd. announced a partnership with LaLeo, the largest medical eCommerce marketplace in Latin America, to resell Wishpond's EverGenius platform. With over 300,000 customers, LaLeo aims to enhance Wishpond's footprint in this key market. The collaboration will provide training and support for the EverGenius platform, which focuses on digital marketing services for medical and dental clinics. This opportunity is expected to boost customer engagement and drive revenue for both companies in Latin America, particularly in Mexico.
Wishpond Technologies Ltd. has launched a new email marketing platform designed to enhance engagement and improve ROI for small businesses. Key updates include an upgraded user interface, Preview Email Text capabilities, support for AMP emails, and a new Email API. These features aim to increase email open rates, click-through rates, and overall campaign performance. The platform is integrated within Wishpond's all-in-one marketing suite, catering to over 3,000 customers primarily in the SMB market. This initiative showcases Wishpond's commitment to empowering businesses through effective digital marketing solutions.
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