Vancouver, BC, January 9, 2025 – Wishpond Technologies Ltd. (TSXV: WISH, OTCQX: WPNDF) (the “Company” or “Wishpond”), a provider of marketing-focused online business solutions, is pleased to announce that it has filed a non-provisional utility patent, entitled Enhanced State Manager In a Virtual AI Representative, for the enhanced state manager technology within its SalesCloser AI (“SalesCloser”) virtual AI agents. This technology is expected to improve the ability of AI systems to manage complex, real-world conversations, addressing challenges such as interruptions, tangential topics, and premature conversation endings. This is Wishpond’s second patent application related to SalesCloser’s virtual AI agents. 

The enhanced state manager within SalesCloser utilizes conversational AI technology to dynamically adapt to real-time cues, ensuring a seamless flow of dialogue. This capability is particularly critical in industries such as customer service and therapy, where maintaining context and delivering coherent interactions are paramount. The enhanced state manager leverages both user-defined and system-defined states to offer consistent, tailored, and responsive experiences. Furthermore, it remembers previous interactions, even after interruptions, allowing continuity in dialogue management.

Ali Tajskandar, CEO of Wishpond, commented, “We are excited to file a patent application for the enhanced state manager technology; this marks a significant milestone in our Company’s innovation journey. This breakthrough enables our virtual AI agent to handle complex, real-world conversations with a greater level of precision and adaptability. By addressing challenges like interruptions and maintaining context across varied scenarios, the enhanced state manager allows businesses to offer seamless, personalized interactions that improve customer satisfaction and operational efficiency. This patent application further solidifies Wishpond’s commitment to delivering cutting-edge solutions that help businesses scale while staying competitive in an increasingly dynamic market.”

SalesCloser, Wishpond’s virtual AI agent, is designed to support customer interaction across various industries by offering businesses scalable, efficient, and cost-effective communication solutions. Its ability to mimic human-like conversations and adapt to different sectors helps companies reduce operational bottlenecks while enhancing customer satisfaction and retention. With the enhanced state manager at its core, SalesCloser continues to offer highly competitive precision and coherence in managing sophisticated dialogues.

Management Update

In addition to this milestone, Wishpond announces the resignation of Nick Steeves, Vice President of Partnerships and formerly General Manager of Wishpond’s subsidiary, PersistIQ, Inc. (“PersistIQ”). His last day with the Company will be January 16, 2025.

Nick joined Wishpond in 2011, and has since held various roles in marketing, customer success, product development, and strategic partnerships. Following Wishpond’s acquisition of PersistIQ in 2021, Nick played an instrumental role in integrating PersistIQ into Wishpond’s broader suite of products and services. 

Ali Tajskandar, CEO of Wishpond, commented, “We are incredibly grateful to Nick for his leadership and dedication throughout the integration process of PersistIQ. His contributions have been invaluable in ensuring a seamless transition and in expanding our product portfolio. With the integration process now successfully completed, we wish Nick all the best in his future endeavors.”

Going forward, Wishpond’s senior leadership team will oversee strategic partnerships while continuing to drive growth and innovation across all business lines.

Ali Tajskandar 

Chief Executive Officer

Wishpond Technologies Ltd.

About Wishpond Technologies Ltd.

Based out of Vancouver, British Columbia, Wishpond is a provider of AI-enabled, marketing-focused online business solutions. Wishpond is a leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company’s Propel IQ platform offers an “all-in-one” marketing suite that provides companies with marketing, promotion, lead generation, ad management, referral marketing, sales conversion and outbound sales automation capabilities in one integrated platform. Wishpond replaces disparate marketing solutions with an easy-to-use product, for a fraction of the cost. Wishpond serves over 4,000 customers who are primarily small and medium-sized businesses (SMBs) in a wide variety of industries. The Company has developed cutting-edge marketing technology solutions, including an AI powered website builder, an AI email automation tool, an AI Sales Agent and continues to add new AI enabled features and applications. The Company employs a Software-as-a-Service (SaaS) business model where most of the Company’s revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker “WISH”, and on the OTCQX Best Market under the ticker “WPNDF”. For further information, visit: www.wishpond.com.

Forward-Looking Statements

Statements that are not reported financial results or other historical information are forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking statements“). This press release includes forward-looking statements regarding the Company, its subsidiaries and the industries in which they operate, including statements about, among other things, references to expected results from future operations, future growth of the Company’s products and platforms, the future development and increased use of products incorporating artificial intelligence, including SalesCloser and the enhanced state manager technology, and expectations around the outcome of the application for the patent, references to the growth of the Company’s product portfolio and future profitability, including whether additional products or features may be developed in the future, and the functionality and timing of such products, financial results or operational activities that may be undertaken by the Company, the results of the Company’s cost-savings, research and development and other initiatives, any future acquisitions or other activities done to grow the Company both organically or inorganically, expectations, beliefs, plans, future operations, the impact of broader economic factors including inflation and other general economic risks on the Company, business and acquisition strategies, opportunities, objectives, prospects, assumptions, including those related to trends and prospects, and future events and performance. Sentences and phrases containing or modified by words such as “expect”, “anticipate”, “plan”, “continue”, “estimate”, “intend”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targets”, “projects”, “is designed to”, “strategy”, “should”, “believe”, “contemplate” and similar expressions, and the negative of such expressions, are not historical facts and are intended to identify forward-looking statements. Readers are cautioned to not place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements in this press release are reasonable and are based on, among other things, the expectations and analysis of current market trends and opportunities of management of the Company, such forward-looking statements have been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including, but not limited to, economic uncertainty and instability as a result of the ongoing inflation and supply chain issues, higher interest rate climate, tightening of credit availability and recessionary risks, pandemic related risks, wars, instability in global commodity and securities markets, shifts in consumer and institutional spending and marketing strategies, risks related to data breaches and privacy, the changing global market and competition for the products and services supplied by the Company, risks associated with the failure to obtain the patent applied for and infringement by third parties of the Company’s intellectual property and the additional risk factors discussed in the continuous disclosure materials of the Company which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Pardeep S. Sangha, 

Investor Relations, Wishpond Technologies Ltd. Email: investor@wishpond.com Phone: 604-572-6392

The post Wishpond Files Patent to Improve Real-time Conversations with its SalesCloser AI Virtual Agents appeared first on Wishpond.

The post Wishond CEO, Ali Tajskandar, recently spoke with Cantech Letter to discuss SalesCloser AI, Wishpond’s latest AI product. appeared first on Wishpond.

The post Wishpond CEO, Ali Tajskandar, recently spoke with Cantech Letter about the remarkable milestones achieved in Q3-2024. appeared first on Wishpond.

• Viral Loops experienced significant growth with over 40% increase in Customer Lifetime Value (“LTV”)(1) and over 25% increase in Average Revenue Per Account (“ARPU”) (1) year over year, attributable to the shift in selling longer term referral campaigns and new integrations which have increased functionality of the platform.

Vancouver, BC, November 28, 2024 – Wishpond Technologies Ltd. (TSXV: WISH, OTCQX: WPNDF) (the “Company” or “Wishpond”), a provider of marketing-focused online business solutions, is pleased to provide the following update on its Viral Loops Platform, a platform for creating and managing referral and word-of-mouth marketing programs (the “Viral Loops Platform”). The Viral Loops Platform has reached a major milestone in 2024, engaging over 3 million participants this year and surpassing 1 million referrals year to date, solidifying its position as a leader in the referral marketing industry. Wishpond is also pleased to share that Viral Loops has seen significant growth with over 40% increase in LTV(1) and over 25% increase in ARPU(1) year over year.

Ali Tajskandar, CEO of Wishpond, commented, “It’s incredibly encouraging to see such tremendous year-over-year growth with the Viral Loops Platform, a clear testament to the platform’s innovative approach to referral marketing, which continues to resonate with businesses across industries. This milestone reflects not only the strength of Viral Loops but also the growing demand for its cutting-edge solutions. We’re particularly excited to see increased adoption among Web3 companies and notable campaigns from leading organizations, which demonstrate the platform’s ability to meet the diverse needs of businesses across various sizes and industries. At Wishpond, we remain deeply committed to continuous innovation, ensuring our products not only meet but exceed the evolving needs of our clients. The new integrations and features introduced to the Viral Loops Platform this year have significantly enhanced its functionality, enabling businesses to create more impactful campaigns. These achievements reinforce our dedication to helping businesses unlock the full potential of referral marketing as a driver of long-term growth and success.”

In the view of management of the Company, Viral Loops has proven to be an important factor in helping businesses increase customer acquisition through incentivized referral campaigns. This year alone, the Viral Loops Platform has launched close to 7,000 campaigns, engaging over 3 million participants and generating over 1 million referrals. Total lifetime figures for the Viral Loops Platform include over 130,000 campaigns, 57 million participants, and 29 million referrals. Management believes these results highlight the Viral Loops Platform’s growing success in the referral marketing space.

Viral Loops has achieved significant growth in key customer-value financial metrics alongside its expanding user base. Over the past year, LTV has increased by more than 40%, while APRU has grown by over 25%. This progress stems from a strategic shift towards selling longer-term referral campaigns that focus on tracking customer referrals, as opposed to shorter-term pre-launch campaigns that primarily involve email collection. Additionally, the adoption of new product features and integrations has significantly enhanced the Viral Loop Platform’s functionality. Notably, the integration of Stripe, Sendoso, and Tremendous in Q3 2024 enabled businesses to access a wider array of reward options, boosting customer engagement. These advancements underscore Viral Loops’ dedication to delivering greater value to its customers, empowering businesses to create more impactful and rewarding referral marketing campaigns.

Founded in 2016, Viral Loops helps businesses unlock their viral growth through powerful referral marketing solutions. It allows businesses to design, create and manage referral programs that reinforce customer loyalty, attract new customers and decrease customer acquisition costs. Viral Loops provides its customers with customizable templates for referral marketing campaigns where customers can refer their network in exchange for rewards. Viral Loops’ technology tracks and manages the effectiveness and results of the referral program and enables customers to manage the distribution of the rewards and discounts arising from the campaign.

Grant of Incentive Awards

Wishpond also announced the grant of 1,200,000 performance share units (“PSUs”) under the Company’s Omnibus Equity Incentive Plan to certain officers for an aggregate of up to 1,200,000 common shares in the capital of the Company. The PSUs were granted effective November 28, 2024 (“Grant Date”).  The PSUs vest on the one-year anniversary of the Grant Date based on the achievement of certain specific performance metrics approved by the board of directors of the Company (the “Board”).

Ali Tajskandar 

Chief Executive Officer

Wishpond Technologies Ltd.

About Wishpond Technologies Ltd.

Based out of Vancouver, British Columbia, Wishpond is a provider of marketing-focused online business solutions. Wishpond is a leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company’s Propel IQ platform offers an “all-in-one” marketing suite that provides companies with marketing, promotion, lead generation, ad management, referral marketing, sales conversion and outbound sales automation capabilities in one integrated platform. Wishpond replaces disparate marketing solutions with an easy-to-use product, for a fraction of the cost. Wishpond serves over 4,000 customers who are primarily small and medium-sized businesses (SMBs) in a wide variety of industries. The Company has developed cutting-edge marketing technology solutions, including an AI powered website builder, an AI email automation tool and an AI sales agent, and continues to add new AI enabled features and applications. The Company employs a Software-as-a-Service (SaaS) business model where most of the Company’s revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker “WISH”, and on the OTCQX Best Market under the ticker “WPNDF”. For further information, visit: www.wishpond.com.

(1)  Non-GAAP Financial Measures

In this press release, Wishpond has used the following terms (“Non-GAAP Financial Measures”) that are not defined by international financial reporting standards (“IFRS”), but are used by management to evaluate the performance of Wishpond and its business, including: MRR, LTV and ARPU. These measures may also be used by investors, financial institutions and credit rating agencies to assess Wishpond’s performance and ability to service debt. Non-GAAP Financial Measures do not have standardized meanings prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Securities regulations require that Non-GAAP Financial Measures are clearly defined, qualified and reconciled to their most comparable IFRS financial measures. Except as otherwise indicated, these Non-GAAP Financial Measures are calculated and disclosed on a consistent basis from period to period. Specific items may only be relevant in certain periods. See the disclosure under the heading “Additional GAAP and Non-GAAP Measures” in Wishpond’s MD&A for a discussion of Non-GAAP Financial Measures and certain reconciliations to GAAP financial measures. The intent of Non-GAAP Financial Measures is to provide additional useful information to investors and analysts, and the measures do not have any standardized meaning under IFRS. The measures should not, therefore, be considered in isolation or used as a substitute for measures of performance prepared in accordance with IFRS. Other issuers may calculate Non-GAAP Financial Measures differently. Non-GAAP Financial Measures are identified and defined as follows:

• • Monthly Recurring Revenue: The Company uses Monthly Recurring Revenue, or MRR, as a directional indicator of subscription revenue going forward assuming customers maintain their subscription plan the following month. MRR is the total of all monthly subscription plan fees paid by customers in effect on the last day of that period. If customers pay for more than one month upfront, the amount is divided by the number of months in the subscription period. Discounts are deducted prior to the calculation and one-time payments and metered based charges are excluded.

• Average Revenue Per Account: The Company defines Average Revenue Per Account, or ARPU, as the total MRR divided by the number of subscribers. Management believes ARPU is a valuable financial metric as it provides insight into the effectiveness of the Company’s monetization strategy and customer value generation. ARPA also helps track the impact of sales initiatives and product offerings on customer spending patterns. 

• Customer Lifetime Value: The Company defines Customer Lifetime Value, or LTV, as the average revenue that a customer generates before they churn. Management believes LTV is useful as a forward looking estimate of the average revenue that a customer will generate throughout its lifespan as a customer with Wishpond.

Forward-Looking Statements

Statements that are not reported financial results or other historical information are forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking statements“). This press release includes forward-looking statements regarding the Company, Viral Loops, and the industries in which they operate, including statements about, among other things, the Viral Loop Platform and its expected maintenance or growth, results from future operations, future growth of the Company’s and Viral Loops’ products and platforms, the future development and increased use of products incorporating artificial intelligence, improvement in the Company’s cash position and increased revenue generation, references to the growth of the Company’s product portfolio and future profitability, including whether additional products or features may be developed in the future, and the functionality and timing of such products, financial results or operational activities that may be undertaken by the Company, the results of the Company’s cost-savings, research and development and other initiatives, any future acquisitions or other activities done to grow the Company both organically or inorganically, expectations, beliefs, plans, future operations, the impact of broader economic factors including inflation and other general economic risks on the Company, business and acquisition strategies, opportunities, objectives, prospects, assumptions, including those related to trends and prospects, and future events and performance. Sentences and phrases containing or modified by words such as “expect”, “anticipate”, “plan”, “continue”, “estimate”, “intend”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targets”, “projects”, “is designed to”, “strategy”, “should”, “believe”, “contemplate” and similar expressions, and the negative of such expressions, are not historical facts and are intended to identify forward-looking statements. Readers are cautioned to not place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements in this press release are reasonable and are based on, among other things, the expectations and analysis of current market trends and opportunities of management of the Company, such forward-looking statements has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including, but not limited to, economic uncertainty and instability as a result of ongoing inflation and supply chain issues, the higher interest rate climate, tightening of credit availability and recessionary risks, pandemic related risks, wars, instability in global commodity and securities markets, shifts in consumer and institutional spending and marketing strategies, risks related to data breaches and privacy, the changing global market and competition for the products and services supplied by the Company, including but not limited to the Viral Loops Platform, and the additional risk factors discussed in the continuous disclosure materials of the Company which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Pardeep S. Sangha, 

Investor Relations, Wishpond Technologies Ltd. Email: investor@wishpond.com Phone: 604-572-6392

The post Wishpond Provides Corporate Update for Viral Loops Subsidiary, Highlighting Record Participants and Referrals Generated in 2024 appeared first on Wishpond.

Key Highlights:

• Achieved Adj. EBITDA of $0.6 million in Q3-2024, an increase of 79% compared to Q3-2023.
• Achieved Adj. EBITDA margin of 11% in Q3-2024 as a result of cost optimizations and restructuring of its sales team.
• Generated positive cash flows from operations of $0.2 million in Q3-2024.

Ali Tajskandar, CEO and Chairman of Wishpond, commented, “Wishpond is making exciting strides with its new flagship product, SalesCloser AI, a revolutionary virtual sales agent which leverages artificial intelligence to conduct sales calls and product demos. We are actively exploring new sales outreach programs and potential channel partnerships to expand SalesCloser’s reach, unlock new customer opportunities, and drive broader adoption of the platform. Collaborations like our recently announced partnership with Roomvu are an excellent example of how a partner can provide us with greater and more efficient access to a potential customer base. Furthermore, we are seeing a steady increase in bookings for SalesCloser demos each day. As we broaden the platform’s rollout, we anticipate that SalesCloser will be a key contributor in driving new growth to our business in 2025.”

Click the link below to watch the webinar: 

The post Third Quarter 2024 Financial Results Video Conference Call appeared first on Wishpond.

• Wishpond is pleased to report it achieved an Adjusted EBITDA margin of 11% in Q3-2024 as a result of cost optimizations and restructuring of its sales team. 

Vancouver, BC – November 20, 2024 – Wishpond Technologies Ltd. (TSXV: WISH, OTCQX: WPNDF) (the “Company” or “Wishpond”), a provider of marketing-focused online business solutions, announces it has filed its interim consolidated financial statements (the “Interim Financial Statements”) and management’s discussion and analysis (the “MD&A”) for Q3-2024, representing the three and nine months ended September 30, 2024. Copies of the Interim Financial Statements and MD&A are available on the Company’s profile on SEDAR+ at www.sedarplus.ca.

Ali Tajskandar, Wishpond’s Founder and CEO commented, “I am pleased to report that Wishpond has achieved Adjusted EBITDA of $571,228 and an Adjusted EBITDA margin of over 11% in Q3-2024, marking the Company’s most profitable quarter since 2022. Achieving double-digit EBITDA margin is a rare accomplishment for a software company of our size, and I am incredibly proud of our team for reaching this significant milestone. Our dedication to reducing costs and driving greater efficiencies throughout our business has led to substantial improvements in both profitability and cash flow. Further to this, I am excited to share that Wishpond generated cash flows from operations of positive $0.2 million during Q3-2024. Improving our Adjusted EBITDA and cash flow generation has been a core focus for the Company in 2024 and we reiterate this commitment and mandate as we head into 2025.”

Ali Tajskandar further adds, “Wishpond is making exciting strides with its new flagship product, SalesCloser AI (“SalesCloser”), a revolutionary virtual sales agent which leverages artificial intelligence to conduct sales calls and product demos. We are actively exploring new sales outreach programs and potential channel partnerships to expand SalesCloser’s reach, unlock new customer opportunities, and drive broader adoption of the platform. Recently, we announced a collaboration with Roomvu Technologies Inc. (“Roomvu”), a leading real estate marketing platform used by over 220,000 real estate agents, to leverage SalesCloser in enhancing lead follow-up and boosting sales conversions. Collaborations like these are an excellent example of how a partner can provide us with greater and more efficient access to a potential customer base. Furthermore, we are seeing a steady increase in bookings for SalesCloser demos each day. As we broaden the platform’s rollout, we anticipate that SalesCloser will be a key contributor in driving new growth to our business in 2025.”

Adrian Lim, Wishpond’s Chief Financial Officer commented, “Despite a decline in quarterly revenue, Wishpond was able to achieve very strong margins and cash flows in Q3-2024. Wishpond’s revenue decline in Q3-2024 was attributable to the transition of its sales team driven by cost optimization efforts and the integration of SalesCloser into its sales processes. In the long term, we anticipate using SalesCloser to grow the Company’s own internal sales capacity, reduce hiring costs, and further increase margins and profitability. In addition, revenue was negatively impacted due to a decrease in spending from Wishpond’s legacy customer for email delivery services. While this customer contributed to Wishpond’s revenue, these sales were not as profitable compared to the newer business generated through our Propel IQ platform (“Propel IQ”). As a result, this offset of less profitable revenue enabled Wishpond to achieve its most profitable quarter in two years, growing Adjusted EBITDA margin to 11% and improving the Company’s gross margin to 69%. Looking ahead, we expect our gross margins to continue trending upwards as adoption of Propel IQ grows, and we begin ramping up sales of our new SalesCloser solution.”

Third Quarter 2024 Financial Highlights:

• Wishpond achieved quarterly revenue of $5,055,738 during Q3-2024 (Q3-2023: $5,763,847).
• Revenue was impacted by a decline in revenue from the Company’s legacy customer of email delivery services which reduced its spending from $338,359 in Q3-2023 to $48,969 in Q3-2024.
• Wishpond achieved a gross profit of $3,490,107 in Q3-2024 (Q3-2023: $3,825,821).
• Wishpond achieved a gross margin percentage of 69% during Q3-2024 (Q3-2023: 66%).
• During Q3-2024, Wishpond achieved positive Adjusted EBITDA(1) of $571,228 (Q3-2023: $319,001), representing an Adjusted EBITDA margin of 11%, and an increase of 79% from Q3-2023.
• As at September 30, 2024, Wishpond had $1,084,978 in cash and had drawn down $1,300,535 from its credit facility (December 31, 2023: cash of $1,424,585 and $994,658 credit facility balance outstanding). The reduction in net cash was caused in part by earnout payments for businesses acquired in 2022, investment in SalesCloser marketing activities, and changes in working capital.

Third Quarter 2024 Business Highlights: 

• On July 8, 2024, the Company announced the appointment of Adrian Lim as Chief Financial Officer (CFO). Mr. Lim has responsibility for all finance, accounting, financial reporting, audit, tax and capital planning functions.
• On July 10, 2024, the Company announced that the renewal of its Notice of an Intention it filed to make a Normal Course Issuer Bid (“NCIB”) was approved by the TSX Venture Exchange. Under the renewed NCIB, the Company may, during the 12-month period commencing July 15, 2024, and ending July 14, 2025, purchase up to 2,707,931 Shares in total, being 5% of the total number of 54,158,620 Shares outstanding as at June 26, 2024.
• On August 1, 2024, the Company successfully renewed its credit facility with a major Canadian bank. The renewed credit facility maintains the secured revolving operating line with a borrowing capacity of up to $6,000,000.
• On August 8, 2024, the Company announced the launch of a new rewards distribution program through its Viral Loops product platform. The new program launched with successful integrations with the Stripe App Marketplace, Tremendous, and Sendoso allowing Viral Loops customers to use their referral rewards on any of these platforms, which the Company believes will increase Average Order Value(1) and Customer Lifetime Value(1). The program is expected to drive increased customer engagement and strengthen Wishpond’s overall market position and capabilities in the referral marketing space.
• On August 19, 2024, the Company announced the launch of a new Integrations Marketplace for its AI-powered virtual sales agent, SalesCloser AI. The Integrations Marketplace is designed to seamlessly integrate SalesCloser with a wide range of tools, including CRM systems, email marketing platforms, and task management software, enhancing efficiency and sales effectiveness through advanced workflow automation.

Business Highlights Subsequent to September 30, 2024:

• On October 23, 2024, the Company entered into a collaboration agreement with Roomvu, a leading real estate marketing platform used by over 220,000 real estate agents, to utilize SalesCloser to enhance lead follow-up and sales conversion for Roomvu. This collaboration is anticipated to empower real estate agents to significantly improve the efficiency of managing leads, with aims to ultimately drive sales higher at the same time as improving the client experience.

Outlook:

For 2025, Wishpond’s focus is on profitable growth. The Company expects to improve upon the Adjusted EBITDA levels achieved in 2024. The Company is also expanding the utilization of its SalesCloser virtual sales agent in its sales processes in order to drive new sales of Wishpond products. SalesCloser will be used to help grow Wishpond’s own internal sales capacity, reduce hiring costs, and further increase margins and profitability. In addition to using SalesCloser to sell Wispond’s own products, the Company is also ramping up its SalesCloser revenue generated from external customers.

Management is pleased to introduce the Company’s key goals for 2025: 

• Accelerate organic revenue growth and increase Monthly Recurring Revenue (MRR)(1).
• Achieve positive Adjusted EBITDA in each quarter in 2025.
• Increase utilization of SalesCloser in internal sales processes to drive sales of Wishpond’s own products.
• Accelerate revenue growth of SalesCloser to external customers.
• Improve margins, decrease churn and increase long-term customer value.

Webinar Conference Call Details:

As previously announced, Wishpond will be hosting a webinar conference call to discuss its Q3-2024 financial results today at 10:00 AM (PT) / 1:00 PM (ET).

To register for the webinar, please visit the following URL: https://bit.ly/wp_q3

Date: November 20, 2024

Time: 10:00 AM PT (1:00 PM ET)

Dial-in: +1 778 907 2071 (Vancouver local)

+1 647 374 4685 (Toronto local)

Meeting ID #:       886 0009 0567

Please connect 5 minutes prior to the conference call to ensure time for any software download that may be required.

Selected Financial Highlights: 

The tables below set out selected financial information relating to Wishpond and should be read in conjunction with Wishpond’s Interim Financial Statements and MD&A.

Reconciliation to Adjusted EBITDA

Footnotes:

• Adjusted EBITDA, MRR, Annualized Revenue Run-Rate(1), Average Order Value, Customer Churn Rate(1) and LTV are not financial measures recognized by International Financial Reporting Standards (“IFRS”), do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other entities. See “Cautionary Statements – Non-GAAP Financial Measures” for more information and definitions of each non-GAAP term used in this press release.

On Behalf of the Board of Wishpond 

“Ali Tajskandar”

Chairman and Chief Executive Officer

About Wishpond Technologies Ltd.

Based out of Vancouver, British Columbia, Wishpond is a provider of marketing-focused online business solutions. Wishpond is a leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company’s Propel IQ platform offers an “all-in-one” marketing suite that provides companies with marketing, promotion, lead generation, ad management, referral marketing, sales conversion and outbound sales automation capabilities in one integrated platform. Wishpond replaces disparate marketing solutions with an easy-to-use product, for a fraction of the cost. Wishpond serves over 4,000 customers who are primarily small and medium-sized businesses (SMBs) in a wide variety of industries. The Company has developed cutting-edge marketing technology solutions, including an AI powered website builder, an AI email automation tool, an AI Sales Agent and continues to add new AI enabled features and applications. The Company employs a Software-as-a-Service (SaaS) business model where most of the Company’s revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker “WISH”, and on the OTCQX Best Market under the ticker “WPNDF”. For further information, visit: www.wishpond.com.

Cautionary Statements, Summary Information

Information presented in this press release is only a summary and does not purport to be a full representation of all figures, notes and discussions provided for in the Interim Financial Statements and MD&A. Readers are cautioned to read the entirety of the Interim Financial Statements and MD&A, and not to rely only on the information presented in this press release. In the event of conflict between the information in this press release on the one hand, and the Interim Financial Statements and MD&A on the other hand, the information in the Interim Financial Statements and MD&A shall govern.

Non-GAAP Financial Measures

In this press release, Wishpond has used the following terms (“Non-GAAP Financial Measures”) that are not defined by IFRS, but are used by management to evaluate the performance of Wishpond and its business, including: Adjusted EBITDA, MRR, Annualized Revenue Run-Rate, Average Order Value, Customer Churn Rate, LTV, gross profit, and gross margin. These measures may also be used by investors, financial institutions and credit rating agencies to assess Wishpond’s performance and ability to service debt. Non-GAAP Financial Measures do not have standardized meanings prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Securities regulations require that Non-GAAP Financial Measures are clearly defined, qualified and reconciled to their most comparable IFRS financial measures. Except as otherwise indicated, these Non-GAAP Financial Measures are calculated and disclosed on a consistent basis from period to period. Specific items may only be relevant in certain periods. See the disclosure under the heading “Additional GAAP and Non-GAAP Measures” in Wishpond’s MD&A for a discussion of Non-GAAP Financial Measures and certain reconciliations to GAAP financial measures. The intent of Non-GAAP Financial Measures is to provide additional useful information to investors and analysts, and the measures do not have any standardized meaning under IFRS. The measures should not, therefore, be considered in isolation or used as a substitute for measures of performance prepared in accordance with IFRS. Other issuers may calculate Non-GAAP Financial Measures differently. Non-GAAP Financial Measures are identified and defined as follows:

• • Adjusted EBITDA: Adjusted EBITDA should not be construed as an alternative to net earnings, cash flow from operating activities or other measures of financial results determined in accordance with GAAP as an indicator of the Company’s performance. The Company defines “Adjusted EBITDA” as Income or Loss before income taxes less interest, depreciation and amortization, remeasurement of contingent consideration liability, filing fees, credit facility setup and renewal fees, earn-out remuneration, foreign currency losses (gains), acquisition related expenses, net other expenditures (income), and stock-based compensation. The Company believes that Adjusted EBITDA is a meaningful financial metric as it measures cash generated from operations which the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives.

• Average Order Value: The Company defines Average Order Value, or AOV, as the aggregate dollar amount of all customer orders over a period of time divided by the aggregate number of orders during that same period. Management believes AOV to be a useful financial measure because it helps to track the impact of sales initiatives and product offerings on customer spending patterns

• Monthly Recurring Revenue: The Company uses Monthly Recurring Revenue, or MRR, as a directional indicator of subscription revenue going forward assuming customers maintain their subscription plan the following month. MRR is the total of all monthly subscription plan fees paid by customers in effect on the last day of that period. If customers pay for more than one month upfront, the amount is divided by the number of months in the subscription period. Discounts are deducted prior to the calculation and one-time payments and metered based charges are excluded.

• Annualized Revenue Run-Rate: The Company uses Annualized Revenue Run-Rate as an indicator of financial performance that takes the current revenue in the quarter and converts it to an annual figure to get the full-year equivalent.
• Customer churn rate: The Company defines Customer Churn Rate as the percentage of customers who have canceled their subscriptions over time. Management believes Customer Churn Rate  to be a useful financial measure because it provides further insight as to what products have the ability to generate continuous customer engagement and revenue.
• Customer Lifetime Value: The Company defines Customer Lifetime Value, or LTV, as the average revenue that a customer generates before they churn. Management believes LTV is useful as a forward looking estimate of the average revenue that a customer will generate throughout its lifespan as a customer with Wishpond.

Forward-Looking Statements

Statements that are not reported financial results or other historical information are forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking statements“). This press release includes forward-looking statements regarding the Company, its subsidiaries and the industries in which they operate, including statements about, among other things, all information contained under the heading “Outlook” herein, references to expected results from future operations, future growth of the Company’s products and platforms, the future development and increased use of products incorporating artificial intelligence, including SalesCloser, improvement in the Company’s cash position and increased revenue generation, references to the growth of the Company’s product portfolio and future profitability, including whether additional products or features may be developed in the future, and the functionality and timing of such products, financial results or operational activities that may be undertaken by the Company, the results of the Company’s cost-savings, research and development and other initiatives, any future acquisitions or other activities done to grow the Company both organically or inorganically, expectations, beliefs, plans, future operations, the impact of broader economic factors including inflation and other general economic risks on the Company, business and acquisition strategies, opportunities, objectives, prospects, assumptions, including those related to trends and prospects, and future events and performance. Sentences and phrases containing or modified by words such as “expect”, “anticipate”, “plan”, “continue”, “estimate”, “intend”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targets”, “projects”, “is designed to”, “strategy”, “should”, “believe”, “contemplate” and similar expressions, and the negative of such expressions, are not historical facts and are intended to identify forward-looking statements. Readers are cautioned to not place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements in this press release are reasonable and are based on, among other things, the expectations and analysis of current market trends and opportunities of management of the Company, such forward-looking statements have been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including, but not limited to, risks associated with changes to Propel IQ and SalesCloser’s revenue and profitability, changes to customer preferences, competition, use cases for Propel IQ and SalesCloser, economic uncertainty and instability as a result of the ongoing inflation and supply chain issues, higher interest rate climate, tightening of credit availability and recessionary risks, pandemic related risks, wars, instability in global commodity and securities markets, shifts in consumer and institutional spending and marketing strategies, risks related to data breaches and privacy, the changing global market and competition for the products and services supplied by the Company, and the additional risk factors discussed in the continuous disclosure materials of the Company which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: Pardeep S. Sangha, 

Investor Relations, Wishpond Technologies Ltd. Email: investor@wishpond.com Phone: 604-572-6392

The post Wishpond Reports Q3-2024 Financial Results with a 79% Year-over-Year Improvement in Adjusted EBITDA appeared first on Wishpond.

The Company will also host a conference call to discuss the results on the same day at 10:00 am PT (1:00 pm ET). The call will be hosted by: Ali Tajskandar, Chairman and Chief Executive Officer; and Adrian Lim, Chief Financial Officer.

Webinar Details:

Date:                 November 20, 2024

Time: 10:00 am PT (1:00 pm ET)

Webinar Registration: https://bit.ly/wp_q3

Dial-in:             +1 778 907 2071 (Vancouver local)

                           +1 647 374 4685 (Toronto local)

Meeting ID #:   886 0009 0567

Please connect 5 minutes prior to the conference call to ensure time for any software download that may be required.

Wishpond Technologies Ltd.

Per: “Ali Tajskandar”

Founder, Chairman and Chief Executive Officer

Wishpond Technologies Ltd.

About Wishpond Technologies Ltd.

Based out of Vancouver, British Columbia, Wishpond is a provider of marketing-focused online business solutions. Wishpond is a leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company’s Propel IQ platform offers an “all-in-one” marketing suite that provides companies with marketing, promotion, lead generation, ad management, referral marketing, sales conversion, and outbound sales automation capabilities on one integrated platform. Wishpond replaces disparate marketing solutions with an easy-to-use product, for a fraction of the cost. Wishpond serves over 4,000 customers who are primarily small and medium-sized businesses (SMBs) in a wide variety of industries. The Company has developed cutting-edge marketing technology solutions, including an AI powered website builder, an AI email automation tool, an AI Sales Agent and continues to add new AI enabled features and applications. The Company employs a Software-as-a-Service (SaaS) business model where most of the Company’s revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker “WISH”, and on the OTCQX Best Market under the ticker “WPNDF”. For further information, visit: www.wishpond.com.

Cautionary & Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

While the Company expects to release its financial results for the quarter ended September 30, 2024 on November 20, 2024 and host a conference call on the same day, such statements may represent forward-looking information within the meaning of applicable Canadian securities legislation. The Company will use commercially reasonable efforts to meet such disclosed timelines, however, extenuating circumstances such as delays in accounting review, the availability of employees and consultants, other pressing business or regulatory requirements which may divert management attention and other factors may cause the Company to not be able to meet such deadlines. Readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

For Further information:

Pardeep S. Sangha

Investor Relations, Wishpond Technologies Ltd.

Email: investor@wishpond.com

Phone: 604-572-6392

The post Wishpond Announces Date for Third Quarter 2024 Financial Results Video Conference Call appeared first on Wishpond.

Vancouver, BC, October 23, 2024 – Wishpond Technologies Ltd. (TSXV: WISH, OTCQX: WPNDF) (the “Company” or “Wishpond”), a provider of marketing-focused online business solutions, is pleased to announce SalesCloser.ai (“SalesCloser”), the Company’s AI-powered virtual sales agent platform, has entered into a collaboration agreement with Roomvu Technologies Inc. (”Roomvu”), a leading real estate marketing platform used by over 220,000 real estate agents, to utilize SalesCloser to enhance lead follow-up and sales conversion for Roomvu. This collaboration marks a transformational leap forward in the real estate industry, equipping Roomvu’s real estate agents with the tools they need to excel in an increasingly competitive market. SalesCloser and Roomvu are anticipated to empower real estate agents to significantly improve the efficiency of managing leads, with aims to ultimately drive sales higher at the same time as improving the client experience.

Ali Tajskandar, CEO of Wishpond, commented on the collaboration, “We are thrilled to collaborate with Roomvu and to provide real estate agents with a powerful tool to improve follow-ups with their sales leads. SalesCloser takes immediate action with outbound calling to turn leads into potential real estate buyers. SalesCloser ensures that every lead is given the attention it deserves, allowing real estate agents to build stronger relationships and achieve their sales goals.”

Sam Mehrbod, CEO of Roomvu added, “We are excited to work with Wishpond’s SalesCloser to provide our real estate agents with a powerful tool to improve lead management and follow-up.  Our goal is to enable real estate agents to take immediate action on the leads they receive, ensuring no opportunity is missed, driving higher sales outcomes.”

This collaboration addresses a critical gap in the real estate industry, being the lack of follow up after a lead is identified. This collaboration aims to transform the way real estate agents manage and convert their leads.  In the past year, Roomvu generated over 500,000 leads, however, only a minuscule number of agents actually followed up on these leads, highlighting a significant missed opportunity and the critical need for effective lead management strategies.  Through this collaboration, SalesCloser’s advanced calling technology will be integrated with Roomvu’s platform to bridge the gap in lead follow-up. Management of the two companies anticipate that this integration will enable agents to efficiently contact their leads, facilitating in-person meetings and ultimately driving successful home sales and purchases.

SalesCloser delivers a multitude of benefits that position real estate agents for success. The platform is designed to enhance lead conversion rates by enabling agents to promptly and effectively follow up on leads. Among its many use cases, SalesCloser and Roomvu is anticipated to facilitate AI-driven sales follow-ups that prevent lost opportunities, handling of routine support calls to free up time, and seamless 24/7 self-service booking and data capture that optimize the sales funnel and increase deal closures.

SalesCloser is a cutting-edge lead management platform that empowers sales professionals to efficiently manage and convert their leads. The platform can be utilized for a diverse range of industries such as auto sales, software/SaaS, professional services, financial services, education, travel & hospitality, insurance, and more. Whether it’s delivering tailored sales demos, conducting pre-qualifying discovery calls, managing technical onboardings, or optimizing bookings and data capture, SalesCloser is anticipated to enhance lead conversion and streamlines the sales process. Additionally, it supports product upsells, ensures timely follow-ups, aids in customer retention, and handles routine support tasks, freeing up valuable time for the sales team irrespective of the industry.

Ali Tajskandar 

Chief Executive Officer

Wishpond Technologies Ltd.

About Wishpond Technologies Ltd.

Based out of Vancouver, British Columbia, Wishpond is a provider of marketing-focused online business solutions. Wishpond is a leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The Company’s Propel IQ platform offers an “all-in-one” marketing suite that provides companies with marketing, promotion, lead generation, ad management, referral marketing, sales conversion and outbound sales automation capabilities in one integrated platform. Wishpond replaces disparate marketing solutions with an easy-to-use product, for a fraction of the cost. Wishpond serves over 4,000 customers who are primarily small and medium-sized businesses (SMBs) in a wide variety of industries. The Company has developed cutting-edge marketing technology solutions, including an AI powered website builder, an AI email automation tool, an AI Sales Agent and continues to add new AI enabled features and applications. The Company employs a Software-as-a-Service (SaaS) business model where most of the Company’s revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange under the ticker “WISH”, and on the OTCQX Best Market under the ticker “WPNDF”. For further information, visit: www.wishpond.com.

About Roomvu Technologies Inc.

Roomvu is a pioneering force in video marketing for real estate agents. It offers hyper-local and relevant video content for social media, advertisements, and email campaigns. Backed by the National Association of Realtors and serving over 220,000 real estate agents across the United States and Canada, Roomvu positions real estate professionals as market leaders.

Forward-Looking Statements

Statements that are not reported financial results or other historical information are forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking statements“). This press release includes forward-looking statements regarding the Company, its subsidiaries and the industries in which they operate, including statements about, among other things, all information contained under the heading “Outlook” herein, references to expected results from future operations, future growth of the Company’s products and platforms, the anticipated success of the collaboration between the Company and Roomvu, the anticipated benefits from SalesCloser that can be derived, the future development and increased use of products incorporating artificial intelligence, including SalesCloser AI, improvement in the Company’s cash position and increased revenue generation, references to the growth of the Company’s product portfolio and future profitability, including whether additional products or features may be developed in the future, and the functionality and timing of such products, financial results or operational activities that may be undertaken by the Company, the results of the Company’s cost-savings, research and development and other initiatives, any future acquisitions or other activities done to grow the Company both organically or inorganically, expectations, beliefs, plans, future operations, the impact of broader economic factors including inflation and other general economic risks on the Company, business and acquisition strategies, opportunities, objectives, prospects, assumptions, including those related to trends and prospects, and future events and performance. Sentences and phrases containing or modified by words such as “expect”, “anticipate”, “plan”, “continue”, “estimate”, “intend”, “expect”, “may”, “will”, “project”, “predict”, “potential”, “targets”, “projects”, “is designed to”, “strategy”, “should”, “believe”, “contemplate” and similar expressions, and the negative of such expressions, are not historical facts and are intended to identify forward-looking statements. Readers are cautioned to not place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements in this press release are reasonable and are based on, among other things, the expectations and analysis of current market trends and opportunities of management of the Company, such forward-looking statements has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including, but not limited to, changes in laws and regulations regarding real estate advertising, sales and marketing, changes in laws and regulations regarding real estate agent behavior and conduct, economic uncertainty and instability as a result of the ongoing inflation and supply chain issues, higher interest rate climate, tightening of credit availability and recessionary risks, pandemic related risks, wars, instability in global commodity and securities markets, shifts in consumer and institutional spending and marketing strategies, risks related to data breaches and privacy, the changing global market and competition for the products and services supplied by the Company, and the additional risk factors discussed in the continuous disclosure materials of the Company which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Pardeep S. Sangha, 

The post Wishpond Collaborates with Roomvu to Revolutionize Real Estate Lead Management with SalesCloser AI, its Next Generation AI-Powered Virtual Sales Agent appeared first on Wishpond.

The post Wishpond to Present at Cantech Letter Investment Conference appeared first on Wishpond.

• Wishpond achieved quarterly revenue of $5,828,709 during Q2-2024, compared to $5,639,417 generated in the same period of 2023 (Q2-2023), representing an increase of 3%. Revenue growth was primarily driven by organic growth resulting from stronger product demand and new product introductions.
• Wishpond achieved Gross Profit of $3,942,748 in Q2-2024 (Q2-2023: $3,680,391), representing a 7% increase from Q2-2023, driven by an increase in overall revenue and improved margins.
• Wishpond achieved a Gross Margin percentage of 68% during Q2-2024 (Q2-2023: 65%).
• During Q2-2024, Wishpond achieved positive Adjusted EBITDA(1) of $541,610 (Q2-2023: $215,926), representing an Adjusted EBITDA margin of 9%, and an increase of 151% from the year prior.

The post Second Quarter 2024 Financial Results Video Conference Call appeared first on Wishpond.