Wishpond Q1 results include revenue growth and 39% increase in adjusted EBITDA [Video]

Wishpond Technologies CEO Ali Tajskandar and CFO David Pais joined Steve Darling from Proactive to announce the company’s consolidated financial statements for Q1 2024, representing the three months ended March 31, 2024. Wishpond achieved quarterly revenue of $6,050,263 in Q1 2024, an 8% increase from $5,623,817 in the same period of 2023. This revenue growth was primarily driven by organic growth, increased sales and marketing activities, and new product introductions. The company reported a gross profit of $4,128,922 in Q1 2024, a 12% increase from Q1 2023. Wishpond’s gross margin percentage for Q1 2024 was 68%.

The company achieved positive Adjusted EBITDA of $290,304 in Q1 2024, a 39% increase from Q1 2023. Wishpond has over $2 million in cash on hand, with the reduction in net cash due to earnout payments for businesses acquired in 2022, investments in the business, and changes in working capital. The company also announced …