Wishpond Technologies Ltd. (TSX-V:WISH, OTCQX:WPNDF) reported strong financial results for the third quarter, marked by 79% year-over-year growth in adjusted EBITDA and positive cash flow.
CEO Ali Tajskandar and CFO Adrian Lim joined Proactive to talk through the report.
Proactive: Welcome back inside our Proactive newsroom. Joining me now is Ali Tajskandar, the CEO of Wishpond. Ali, it's good to see you again. How are you?
Ali Tajskandar (AT): Good to be here. Thank you. I'm good. How are you doing?
I’m doing very well, thanks. Also joining us is your chief financial officer, Adrian Lim. Adrian, nice to see you as well.
Adrian Lim (AL): Nice to see you too. Thanks for having me.
Let’s start with your Q3 interim financial results. Ali, can you share your thoughts on Wishpond’s performance?
AT: Absolutely. We're very excited about our performance. Adjusted EBITDA grew 79% year over year, showing significant profitability growth. Additionally, we’ve achieved positive cash flow from operations. These results reflect our focus on cash flow and profitability over the past year.
Adrian, could you give us more insight into these numbers?
AL: Sure. We've delivered on our goals of profitability and cash flow. Gross margins have improved to 69%, and adjusted EBITDA margins are at 11%, the highest in two years. Year-to-date adjusted EBITDA is already higher than any year in our history. Cash flows have also improved significantly, setting a strong foundation for future growth.
Ali, you’ve announced new tools for businesses. Can you elaborate?
AT: Yes, we’re excited about Sales Closer AI, an AI-driven tool for phone conversations and Zoom demos. It’s gaining traction with businesses and complements both sales and customer support teams. We’re also using it internally to enhance our sales team’s productivity, especially as we target aggressive growth in 2025.
Do you feel Wishpond is on solid ground for this growth?
AT: Absolutely. We’ve built a strong foundation with positive cash flow and profitability. Now we can shift our focus to significant growth while maintaining profitability as a constant in 2025.
Quotes have been lightly edited for clarity and style