Wishpond achieved record annual revenue of $23.1 million in its fiscal year 2023, an increase of 13% compared to its fiscal year 2022. The Company achieved revenue of $6.1 million in Q4-2023, representing an annualized revenue run-rate(1) of over $24 million, driven by sales of the Company's next generation marketing platform, Propel IQ.

Wishpond achieved Adjusted EBITDA(1) of $0.8 million in its fiscal year 2023. The Company has now had positive Adjusted EBITDA(1) for the sixth quarter in a row.

The Company expects to accelerate its growth in 2024 driven by an increase in Propel IQ sales and the launch of SalesCloser AI, a virtual AI sales agent that can conduct sales calls and demos in multiple languages with minimal human intervention.

 1. Financial Highlights for Fiscal Year 2023:

   - Wishpond achieves record annual revenue of $23,088,138, representing a 13% increase year-over-year.

   - Record gross profit of $15,190,124, with a gross margin percentage of 66%.

   - Achieves record Adjusted EBITDA of $758,807, reflecting a 17% increase from the previous fiscal year.

   - The company reports a reduction in cash balances due to earnout payments, R&D investments, and operational expenses.

2. Fourth Quarter 2023 Financial Highlights:

   - Wishpond achieves record quarterly revenue of $6,061,057, driven by the successful transition of its sales team to selling Propel IQ.

   - Gross profit of $3,994,574, with a gross margin percentage of 66%.

   - Positive Adjusted EBITDA of $14,807, despite increased expenses related to sales and marketing efforts.

3. Business Highlights:

   - Integration of Brax with Facebook enhances ad management capabilities for advertisers.

   - Filing of a non-provisional utility patent for SalesCloser AI, a breakthrough in AI-powered presentation technology.

   - Beta launch of SalesCloser AI, offering personalized sales calls and product demos with minimal human intervention.

   - Successful metrics update for Propel IQ, including increased customer base and higher MRR and LTV.

4. Outlook for 2024:

   - Wishpond aims to achieve record revenue and positive Adjusted EBITDA in 2024, driven by the traction of Propel IQ and SalesCloser AI.

   - Key goals include accelerating organic revenue growth, achieving positive Adjusted EBITDA in each quarter, and leveraging Propel IQ to improve margins and customer lifetime value.

   - Management expresses confidence in the company's ability to achieve higher revenue growth and profitability in the coming year.

5. Leadership Update:

   - Wishpond announces the departure of its CTO, Dennis Zelada, effective April 18, 2024, as he pursues other opportunities.

Wishpond Technologies reports strong financial performance for fiscal year 2023, driven by the successful launch of Propel IQ and advancements in AI-powered marketing tools. With strategic goals set for 2024, including revenue growth and profitability targets, Wishpond remains committed to innovation and delivering value to its customers.