Wishpond Technologies Ltd. (TSX-V:WISH, OTCQX:WPNDF)’ full-year earnings will increase year-over-year for 2023 following a strong third quarter when it reported $5.76 million in revenue and $319,001 in adjusted earnings before interest and taxes (EBIT), the company’s leadership team has highlighted.
“When you look at the three quarters so far this year, the total adjusted EBIT exceeded the adjusted EBIT for the entirety of 2022 so anything we do in 4Q is going to top that,” the company’s finance chief David Pais told Proactive.
The company is also projecting higher sales and adjusted EBIT to increase in 2024.
“We had headwinds that are going to turn into tailwinds and propel the business forward,” Pais said.
CEO Ali Tajskandar told Proactive that the company’s transition to selling its marketing software product Propel IQ in a bundle with its other legacy products would lead to higher margins and will increase long-term revenue per customer due to lower churn.
“We’re in a place where over the past two months we’ve had more than 3% month-over-month monthly recurring revenue growth, leading us to have a solid 4Q and really readying for 2024 and beyond where we can grow on a very solid foundation,” he said.
He added that the company continues to add new products and services to its lineup, including launching three artificial intelligence (AI)-powered products with a fourth expected to be released by the year-end.
“That’s something we need to continue innovating for us to hit our 2024 numbers and organic rates of growth like more than 30%,” the CEO said.
Vancouver, British Columbia-based Wishpond is a provider of marketing-focused online business solutions.
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