Company
CVE:WISH
Wishpond Technologies Ltd is a provider of marketing-focused online business solutions based out of Vancouver, British Columbia. Wishpond’s vision is to become the leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. The company offers an “all-in-one” marketing suite that provides companies with marketing, promotion, lead generation, and sales conversion capabilities from one integrated platform. Wishpond replaces entire marketing functions in an easy-to-use product, for a fraction of the cost. Wishpond serves over 3,000 customers who are primarily small-to-medium size businesses (SMBs) in a wide variety of industries. The company has developed cutting-edge marketing technology solutions and continues to add new features and applications with great velocity. The company employs a Software-as-a-Service (SaaS) business model where substantially all the company’s revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility.
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For the period ended September 30, 2022, the Vancouver, British Columbia-based marketing technology solutions company, reported revenue of $5,483,256, compared to revenue of $3,976,965 in the corresponding period a year earlier
Lobo has over 15 years of experience building technology products and companies from conception to scale and is the co-founder of Boast.AI, a fintech platform that helps companies fund their R&D and innovation projects
Wishpond is a good fit for longer-term investors with a larger risk appetite, the analysts highlighted, calling the company “a name to be considered” in the small cap universe
Wishpond said it now offers Viral Loops’ referral marketing software platform to its customers, allowing Viral Loops to reach a larger customer base while increasing the value of Wishpond’s bundled packages and the company’s average revenue
Analysts at Canaccord said the quarter highlighted its early execution in driving the top line, as cash flow improved in the face of a “challenging” economic backdrop
The marketing-focused online business solutions provider also revealed that it had returned to a positive net cash flow from operations
The company said its business has not been affected by macroeconomic challenges such as high inflation, rising interest rates and supply chain disruptions that have affected other industries around the world
"This is a website builder that is designed from the ground up to help businesses generate leads and sales, as opposed to other tools where those are afterthoughts,” said Jordan Gutierrez, COO of Wishpond
The online marketing solutions company posted revenue of $4.08 million, compared to $2.90 million in the same period last year
"While our business in the earlier part of Q1 2022 was affected by post-holiday seasonality, we were thrilled to see MRR growth return in March and April," said Ali Tajskandar, CEO of Wishpond
"2021 was a monumental year for Wishpond, as we accomplished record financial results in our first full year as a public company on the TSX Venture Exchange,” said Ali Tajskander, Wishpond's chairman and CEO
The Vancouver, British Columbia-based company noted that the number of Winback's customer installations is increasing, and it is now integrated across Wishpond's departments and sales channels
The company said Viral Loops has strong sales growth from more than 700 customers, is EBITDA positive and is expected to be immediately accretive to Wishpond
Brax is also integrating with MGID, a provider of a native advertising network with access to over 32,000 publishers worldwide reaching over 850 million unique visitors a month
Wishpond's subsidiary Invigo uses its Evergenius platform to offer specialized digital marketing services to help medical and dental clinics improve brand recognition and website conversions by growing their customer base and increasing rev
“WISH spent a number of years investing in a sustainable sales process, and now has a well-established sales generation engine for systematic lead generation and conversion,” analysts at PI Financial said
"Email marketing is a major part of Wishpond's offering, and our updated features and user experience should help small businesses to achieve even greater levels of engagement and return on investment," said Jordan Gutierrez, the chief oper
The awards include the Capterra Shortlist badge, the Software Advice Front Runners badge, and the GetApp Category Leaders badge -- which recognize Wishpond as a highly ranked product on each platform
The company said Brax has also recently launched its Universal Ads Editor, providing customers with a faster way to create, launch and monitor campaign performance across multiple platforms
“We believe WISH is well positioned for outperformance in 2022 given leading organic growth of ~40%, investment in doubling the sales force and a pipeline of M&A opportunities,” the analysts wrote
