Business
Wishpond Reports Continued Revenue and Adjusted EBITDA Growth in Q2-2023
(NewsDirect) Wishpond Technologies Ltd. (TSXV: WISH, OTCQX: WPNDF) (the “ Compan...
About this update from Wishpond Technologies Ltd.
[{"type":"text","content":"Wishpond Reports Continued Revenue and Adjusted EBITDA Growth in Q2-2023\n \n \n (NewsDirect)\n \n \n \n Wishpond\nTechnologies Ltd.\n \n (TSXV: WISH, OTCQX: WPNDF) (the\n“\n \n Company\n \n ” or “\n \n Wishpond\n \n ”), a provider of\nmarketing-focused online business solutions, announces it has filed\nits interim consolidated financial statements (the “\n \n Interim\nFinancial Statements''\n \n ) and management’s discussion and\nanalysis (the “\n \n MD&A\n \n ”) for Q2-2023, representing the\nthree and six months ended June 30, 2023. Copies of the Interim\nFinancial Statements and MD&A are available on the Company’s\nprofile on SEDAR at www.sedar.com.\n \n \n Ali Tajskandar, Wishpond’s Founder and CEO\ncommented, “\n \n We are very pleased with our second quarter results\nin which Wishpond achieved positive Adjusted EBITDA for the fourth\nquarter in a row, demonstrating our commitment to profitable growth.\nDuring the first six months of 2023 we generated $0.4 million of\npositive Adjusted EBITDA compared to an Adjusted EBITDA loss of $0.6\nmillion in the first six months of last year; an outstanding\nimprovement of over $1 million, which we are extremely proud of\nachieving. Wishpond’s cost optimization efforts over the past year\nhave contributed to the Company’s positive Adjusted EBITDA profile.\nBased on the Company’s performance and growth momentum in the first\nhalf of the year, we expect to deliver strong results for the\nremainder of 2023.\n \n \n We maintain a positive outlook for the\nsecond half of 2023, with continued sales growth and improving cash\nflows.”\n \n \n \n Ali\nTajskandar further adds,\n \n “During the second quarter we also\ncompleted the acquisition of Essential Studio Manager (ESM), which is\nthe sixth acquisition in the Company’s history. ESM further expands\nthe breadth of our product offering into invoicing, CRM and business\nmanagement functionality. In addition, we are actively working on\ndeveloping additional AI-powered marketing tools which we intend to\nlaunch in the coming quarters. Finally, our new Propel IQ platform is\ngaining traction in the market and early signs are showing higher\nmargins and increased customer retention. We are now accelerating the\nhiring ...