Wishpond Technologies CEO Ali Tajskandar and CFO David Pais joined Steve Darling from Proactive to present the company’s financial achievements for the fiscal year ended December 31st, 2023. The company reported record annual revenue of $23.1 million for fiscal year 2023, marking a 13% increase compared to fiscal year 2022. In Q4-2023, Wishpond achieved revenue of $6.1 million, representing an annualized revenue run-rate of over $24 million. This growth was primarily driven by sales of the company's next-generation marketing platform, Propel IQ.
Additionally, Wishpond achieved Adjusted EBITDA of $0.8 million in fiscal year 2023, marking the sixth consecutive quarter of positive Adjusted EBITDA. The company expects to further accelerate its growth in 2024, driven by increased Propel IQ sales and the launch of SalesCloser AI, a virtual AI sales agent capable of conducting sales calls and demos in multiple languages with minimal human intervention.
Looking ahead, Wishpond anticipates an improvement in its cash position in 2024 as revenue continues to grow and the company has fulfilled all earn-outs related to prior acquisitions. The company expresses confidence in its ability to fund future growth through cash flow from operations and its $6 million credit facility, with additional financing only necessary for executing acquisition opportunities.
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