Wishpond released its Q1 2024 financial results. This was discussed during a live webinar, where Wishpond’s CEO and CFO broke down the company’s financial performance and business developments.
Fiscal Q1-2024 Financial Highlights:
- Wishpond achieved quarterly revenue of $6,050,263 during Q1-2024, compared to $5,623,817 generated in the same period of 2023 (Q1-2023), an increase of 8%. Revenue growth was primarily driven by organic growth resulting from stronger product demand, an increase in sales and marketing activities, and new product introductions.
- Wishpond achieved Gross Profit of $4,128,922 in Q1-2024 (Q1-2023: $3,689,338), representing a 12% increase from Q1-2023, driven by an increase in overall revenue.
- Wishpond achieved a Gross Margin percentage of 68% during Q1-2024 (Q1-2023: 66%).
- During Q1-2024, Wishpond achieved positive Adjusted EBITDA(1) of $290,304 (Q1-2023: $209,073), an increase of 39%.
Ali Tajskandar, Wishpond’s Founder and CEO commented, “The first quarter of 2024 marked another historic chapter in the Company’s history as we successfully completed the development of our flagship, and much anticipated, SalesCloser AI product, which subsequently launched in April 2024. SalesCloser AI has generated immense interest within the industry, as we pioneer the future of sales calls and product demos through the use of artificial intelligence. We’re confident that SalesCloser AI will lead the charge in reshaping how companies engage with their stakeholders, heralding a new era of efficiency and effectiveness in sales processes. With the combination of our Propel IQ all-in-one marketing platform, and SalesCloser AI, Wishpond is poised for its next phase of growth.”