Wishpond released its first-quarter 2022 financial results on May 26th, 2022. The financial results were followed by a live webinar hosted by Wishpond CEO and Chairman, Ali Tajskandar, and Chief Financial Officer David Pais.
In the webinar, the results were discussed in detail, outlining Wishpond’s financial performance for the first three months of the calendar year. Some highlights of the first-quarter financial results include:
- Wishpond achieved quarterly revenue of $4.1 million during Q1-2022, compared to revenue of $2.9 million generated during Q1-2021, an increase of 41%
- Wishpond achieved a Gross profit of $2.5 million, compared to $1.8 million during Q1-2022, representing an increase of 41%, driven by an increase in overall revenue.
- As of March 31, 2022, Wishpond had $4.5 million in cash and cash equivalents. The company had no debt as of March 31, 2022.
- Wishpond’s growth has not been directly impacted by the significant supply chain disruptions, inflation, and other macroeconomic challenges currently affecting other industries around the globe.
During the webinar, Ali Tajskandar had the following to say:
“I am particularly encouraged with the record monthly recurring revenue, or “MRR,” we achieved in April after the slower months at the beginning of the year. Thus far in May, we are on track to exceed April’s performance with another record high for MRR, which sets the stage for strong financial results for the second quarter and the year ahead.”
And Wishpond’s CFO, David Pais, said:
“In summary, Wishpond is in a very strong financial position with a healthy balance sheet, solid monthly recurring revenue, and very good visibility on revenue and cash flow for the current year. Wishpond is able to continue to grow comfortably with its cash flow from operations – without having to raise any additional equity or debt capital.”