Wishpond Technol Stock Price, News & Analysis

Wishpond Technologies (TSXV: WISH, OTCQX: WPNDF) has released its fourth annual CEO letter, outlining its vision for 2025 centered on artificial intelligence. The company aims to create a fully autonomous AI-enabled marketing and sales platform that manages the entire customer acquisition journey.

The company's flagship product, SalesCloser, leverages generative AI for conducting personalized sales calls and product demos. Wishpond has filed three patent applications related to conversational AI and reports nine consecutive quarters of positive Adjusted EBITDA with positive cash flow from operations in the second half of 2024.

For 2025, Wishpond plans to reaccelerate growth by expanding its sales team and scaling SalesCloser adoption while maintaining strong margins and cash flow. The company is implementing a hybrid sales model combining AI agents with human expertise to enhance efficiency without increasing personnel costs.

Wishpond Technologies (TSXV: WISH, OTCQX: WPNDF) has filed a non-provisional utility patent for its enhanced state manager technology within SalesCloser AI virtual agents. This marks the company's second patent application related to SalesCloser.

The technology aims to improve complex conversations by dynamically adapting to real-time cues and maintaining context across interactions. The enhanced state manager utilizes both user-defined and system-defined states to deliver consistent and responsive experiences, particularly valuable in customer service and therapy sectors.

Additionally, the company announced the resignation of Nick Steeves, Vice President of Partnerships and former General Manager of PersistIQ subsidiary, effective January 16, 2025. Steeves, who joined in 2011, played a key role in integrating PersistIQ following its 2021 acquisition. Moving forward, Wishpond's senior leadership team will manage strategic partnerships.

Wishpond Technologies reported significant achievements for its Viral Loops Platform in 2024. The platform engaged over 3 million participants and generated over 1 million referrals year to date, launching nearly 7,000 campaigns. The company experienced substantial growth with a 40% increase in Customer Lifetime Value (LTV) and 25% increase in Average Revenue Per Account (ARPU) year over year. This growth is attributed to a strategic shift towards longer-term referral campaigns and new integrations, including Stripe, Sendoso, and Tremendous in Q3 2024. The platform's lifetime figures include over 130,000 campaigns, 57 million participants, and 29 million referrals.

Wishpond Technologies reported Q3-2024 financial results, achieving its highest Adjusted EBITDA since 2022 at $0.6 million, a 79% increase year-over-year. The company reached an 11% Adjusted EBITDA margin through cost optimizations and sales team restructuring. Revenue was $5.1 million, down from $5.8 million in Q3-2023, primarily due to reduced spending from a legacy email delivery customer. Gross margin improved to 69% from 66% year-over-year. The company launched SalesCloser AI, its new flagship virtual sales agent product, and announced a collaboration with Roomvu Technologies to enhance lead follow-up for real estate agents.

Wishpond Technologies (TSXV: WISH, OTCQX: WPNDF) has announced it will release its Third Quarter Financial Statements and management's discussion and analysis for the period ended September 30, 2024, on Wednesday, November 20, 2024. The company will host a conference call to discuss the results at 10:00 am PT (1:00 pm ET) on the same day. The call will be led by Chairman and CEO Ali Tajskandar and CFO Adrian Lim.

Wishpond Technologies has announced a collaboration between its AI-powered virtual sales agent platform SalesCloser.ai and Roomvu, a real estate marketing platform used by over 220,000 agents. The partnership aims to address the critical issue of lead follow-up in real estate, as Roomvu generated over 500,000 leads last year with minimal agent follow-through. SalesCloser will integrate with Roomvu's platform to provide automated outbound calling, 24/7 self-service booking, and AI-driven sales follow-ups, targeting improved lead conversion rates and enhanced client experience for real estate agents.

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.