Wishpond Reports Record Adjusted EBITDA in Fiscal 2024 | WPNDF Stock News

3 days ago

Wishpond Technologies (WISH, WPNDF) reports record Adjusted EBITDA of $1.7 million for fiscal 2024, a 129% increase year-over-year.
The company achieved a gross margin of 68% and positive cash flow from operations of $519K.
Key driver of growth: SalesCloser AI platform, generating $800K in Annual Recurring Revenue.

Wishpond Technologies Ltd. (TSXV: WISH, OTCQX: WPNDF) announced a significant financial milestone in fiscal 2024, achieving a record Adjusted EBITDA of $1.7 million, reflecting a 129% increase compared to the previous year. The company also reported an improved gross margin of 68%, up from 66% in 2023, and a positive cash flow from operations amounting to $519K.

Despite a decline in annual revenue to $21.6 million from $23.1 million in 2023, Wishpond's strategic focus on its AI-driven products allowed for increased profitability. The SalesCloser AI platform emerged as a standout performer, generating approximately $800K in Annual Recurring Revenue.

The company continues to expand its reach with the launch of the SalesCloser AI White-Label Reseller Program and strategic collaborations with Roomvu and Venops. These initiatives are expected to drive accelerated revenue growth in 2025, enhancing Wishpond's market presence and strengthening its financial performance.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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