WISHPOND TECHNOLOGIES LTD - WPNDF STOCK NEWS

Wishpond Technologies (TSXV: WISH) (OTCQX: WPNDF) announces its participation in the 2024 Cantech Letter Investment Conference on October 9, 2024, in Toronto, Ontario. CEO Ali Tajskandar will deliver an investor presentation and engage in 1-on-1 meetings with investors.

Tajskandar will also participate in a keynote panel discussion titled 'Artificial Irrelevance? How Canadian Techs are Building Intelligence and Purpose into AI Solutions' at 8:30 a.m. in the Court Ballroom. The panel, moderated by Brady Fletcher, President of Roth Canada, will explore trends shaping the future of the Canadian innovation sector.

The CEO expressed enthusiasm about the conference, viewing it as an opportunity to strengthen connections within capital markets, enhance visibility, showcase achievements, and increase Wishpond's profile among investor communities. He looks forward to sharing Wishpond's story as a leading AI and digital marketing solutions company.

Wishpond Technologies (TSXV: WISH) (OTCQX: WPNDF) reported Q2-2024 financial results, highlighting a 151% improvement in Adjusted EBITDA to $0.5 million. Key highlights include:

- Revenue increased 3% to $5.83 million
- Gross profit up 7% to $3.94 million with 68% margin
- Launched SalesCloser AI, a virtual sales agent using AI for sales calls and demos
- Appointed Adrian Lim as new CFO
- Renewed credit facility with $6 million borrowing capacity

CEO Ali Tajskandar expects continued margin improvement and profitability expansion in coming quarters. The company aims to accelerate organic growth, achieve positive Adjusted EBITDA each quarter, and ramp up sales of SalesCloser AI in 2024.

Wishpond Technologies (TSXV: WISH) (OTCQX: WPNDF) has launched a new Integrations Marketplace for its AI-powered virtual sales agent, SalesCloser AI. This marketplace allows SalesCloser to integrate seamlessly with various tools, including CRM systems, email marketing platforms, and task management software. The integration aims to enhance efficiency and sales effectiveness through advanced workflow automation.

The Integrations Marketplace is designed to empower businesses to optimize their sales processes by providing advanced workflow automation capabilities. It is expected to streamline operations, enhance efficiency, and attract more customers by simplifying the integration process with existing back-office systems. Potential use cases include syncing leads from CRM systems to SalesCloser, enhancing customer service with Zendesk Chat, and automating tasks with Asana and other task management apps.

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.