Board Change • May 15
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Prashant Nedungadi was the last independent director to join the board, commencing their role in 2026. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 01
Full year 2025 earnings: Revenues and EPS in line with analyst expectations Full year 2025 results: CA$0.042 loss per share (further deteriorated from CA$0.015 loss in FY 2024). Revenue: CA$14.4m (down 34% from FY 2024). Net loss: CA$2.28m (loss widened 175% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 29% per year, which means it is performing significantly worse than earnings. Board Change • Apr 29
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Prashant Nedungadi was the last independent director to join the board, commencing their role in 2026. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 27
Wishpond Technologies Ltd., Annual General Meeting, Jun 24, 2026 Wishpond Technologies Ltd., Annual General Meeting, Jun 24, 2026. Aankondiging • Mar 10
Emerge Brands Inc. completed the acquisition of substantially all the business and assets of Viral Loops Limited from Wishpond Technologies Ltd. (TSXV:WISH) for CAD 2.3 million Emerge Brands Inc. entered into an asset purchase agreement to acquire substantially all the business and assets of Viral Loops Limited from Wishpond Technologies Ltd. (TSXV:WISH) for CAD 2.3 million on February 19, 2026. Under the terms of agreement total cash consideration of CAD 2.3 million with CAD 2.1 million to be paid at the closing of the Transaction and CAD 0.2 million to be paid on the 1 year anniversary of the Closing. The Company intends to use the net proceeds from the Transaction primarily to reduce indebtedness under its senior credit facility, with the balance to support ongoing working capital requirements. Upon Closing, Wishpond expects to reduce its outstanding line of credit balance by approximately CAD 1.4 million, representing a significant reduction of its current indebtedness.
Closing of the Transaction is subject to certain conditions including receipt of required consent from the Company's senior lender, completion of a financing by Emerge, certain third party approvals and, if applicable, the approval of the TSX Venture Exchange. Closing is expected to occur prior to March 30, 2026 or such other date as EMERGE and the Seller may mutually agree.
Emerge Brands Inc. completed the acquisition of substantially all the business and assets of Viral Loops Limited from Wishpond Technologies Ltd. (TSXV:WISH) on March 10, 2026. Aankondiging • Feb 19
Emerge Brands Inc. entered into an asset purchase agreement to acquire substantially all the business and assets of Viral Loops Limited from Wishpond Technologies Ltd. (TSXV:WISH) for $2.3 million. Emerge Brands Inc. entered into an asset purchase agreement to acquire substantially all the business and assets of Viral Loops Limited from Wishpond Technologies Ltd. (TSXV:WISH) for CAD 2.3 million on February 19, 2026. Under the terms of agreement total cash consideration of CAD 2.3 million with CAD 2.1 million to be paid at the closing of the Transaction and CAD 0.2 million to be paid on the 1 year anniversary of the Closing. The Company intends to use the net proceeds from the Transaction primarily to reduce indebtedness under its senior credit facility, with the balance to support ongoing working capital requirements. Upon Closing, Wishpond expects to reduce its outstanding line of credit balance by approximately CAD 1.4 million, representing a significant reduction of its current indebtedness.
Closing of the Transaction is subject to certain conditions including receipt of required consent from the Company's senior lender, completion of a financing by Emerge, certain third party approvals and, if applicable, the approval of the TSX Venture Exchange. Closing is expected to occur prior to March 30, 2026 or such other date
as EMERGE and the Seller may mutually agree. Reported Earnings • Nov 26
Third quarter 2025 earnings released: CA$0.009 loss per share (vs CA$0.002 profit in 3Q 2024) Third quarter 2025 results: CA$0.009 loss per share (down from CA$0.002 profit in 3Q 2024). Revenue: CA$3.38m (down 33% from 3Q 2024). Net loss: CA$468.9k (down CA$555.1k from profit in 3Q 2024). Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. New Risk • Nov 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$722k free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Market cap is less than US$10m (CA$7.69m market cap, or US$5.47m). Aankondiging • Aug 28
Wishpond Technologies Ltd. Provides Earnings Guidance for the Year 2025 Wishpond Technologies Ltd. provided earnings guidance for the year 2025. For the year, the company expects revenue growth by the end. Reported Earnings • Aug 27
Second quarter 2025 earnings released: CA$0.014 loss per share (vs CA$0.002 loss in 2Q 2024) Second quarter 2025 results: CA$0.014 loss per share (further deteriorated from CA$0.002 loss in 2Q 2024). Revenue: CA$3.71m (down 36% from 2Q 2024). Net loss: CA$758.7k (loss widened CA$635.1k from 2Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Price Target Changed • Jun 30
Price target decreased by 14% to CA$0.75 Down from CA$0.88, the current price target is an average from 2 analysts. New target price is 305% above last closing price of CA$0.18. Stock is down 53% over the past year. The company is forecast to post a net loss per share of CA$0.02 next year compared to a net loss per share of CA$0.015 last year. New Risk • May 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (CA$8.79m market cap, or US$6.39m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). Reported Earnings • May 22
First quarter 2025 earnings released: CA$0.012 loss per share (vs CA$0.009 loss in 1Q 2024) First quarter 2025 results: CA$0.012 loss per share (further deteriorated from CA$0.009 loss in 1Q 2024). Revenue: CA$4.09m (down 32% from 1Q 2024). Net loss: CA$640.5k (loss widened 37% from 1Q 2024). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. Aankondiging • May 14
Wishpond Technologies Ltd. to Report Q1, 2025 Results on May 22, 2025 Wishpond Technologies Ltd. announced that they will report Q1, 2025 results Pre-Market on May 22, 2025 Aankondiging • Apr 10
Wishpond Technologies Ltd. to Report Q4, 2024 Results on Apr 24, 2025 Wishpond Technologies Ltd. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Apr 24, 2025 Aankondiging • Mar 24
Wishpond Technologies Ltd., Annual General Meeting, May 29, 2025 Wishpond Technologies Ltd., Annual General Meeting, May 29, 2025. New Risk • Mar 11
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$14.1m (US$9.76m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Aankondiging • Jan 09
Wishpond Technologies Ltd. Files Patent to Improve Real-Time Conversations with Its Salescloser Ai Virtual Agents Wishpond Technologies Ltd. announce that it has filed a non-provisional utility patent, entitled Enhanced State Manager In a Virtual AI Representative, for the enhanced state manager technology within its SalesCloser AI ("SalesCloser") virtual AI agents. This technology is expected to improve the ability of AI systems to manage complex, real-world conversations, addressing challenges such as interruptions, tangential topics, and premature conversation endings. This is Wishpond's second patent application related to SalesCloser's virtual AI agents. The enhanced state manager within SalesCloser utilizes conversational AI technology to dynamically adapt to real-time cues, ensuring a seamless flow of dialogue. This capability is particularly critical in industries such as customer service and therapy, where maintaining context and delivering coherent interactions are paramount. The enhanced state manager leverages both user-defined and system-defined states to offer consistent, tailored, and responsive experiences. Furthermore, it remembers previous interactions, even after interruptions, allowing continuity in dialogue management. SalesCloser, Wishpond's virtual AI agent, is designed to support customer interaction across various industries by offering businesses scalable, efficient, and cost-effective communication solutions. Its ability to mimic human-like conversations and adapt to different sectors helps companies reduce operational bottlenecks while enhancing customer satisfaction and retention. With the enhanced state manager at its core, SalesCloser continues to offer highly competitive precision and coherence in managing sophisticated dialogues. New Risk • Nov 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.3m (US$9.52m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (CA$13.3m market cap, or US$9.52m). Minor Risk Significant insider selling over the past 3 months (CA$203k sold). Price Target Changed • Nov 21
Price target decreased by 40% to CA$0.88 Down from CA$1.46, the current price target is an average from 4 analysts. New target price is 257% above last closing price of CA$0.24. Stock is down 51% over the past year. The company is forecast to post a net loss per share of CA$0.01 next year compared to a net loss per share of CA$0.035 last year. New Risk • Nov 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Significant insider selling over the past 3 months (CA$203k sold). Market cap is less than US$100m (CA$17.9m market cap, or US$12.8m). Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: CA$0.002 (vs CA$0.006 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.002 (down from CA$0.006 in 3Q 2023). Revenue: CA$5.06m (down 12% from 3Q 2023). Net income: CA$86.2k (down 74% from 3Q 2023). Profit margin: 1.7% (down from 5.7% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Aankondiging • Nov 13
Wishpond Technologies Ltd. to Report Q3, 2024 Results on Nov 20, 2024 Wishpond Technologies Ltd. announced that they will report Q3, 2024 results on Nov 20, 2024 Major Estimate Revision • Aug 27
Consensus EPS estimates upgraded to CA$0.02 loss, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from CA$26.2m to CA$24.2m. 2024 losses expected to reduce from -CA$0.023 to -CA$0.02 per share. Software industry in Canada expected to see average net income growth of 31% next year. Consensus price target down from CA$1.43 to CA$1.32. Share price rose 36% to CA$0.40 over the past week. Reported Earnings • Aug 22
Second quarter 2024 earnings released: CA$0.002 loss per share (vs CA$0.012 loss in 2Q 2023) Second quarter 2024 results: CA$0.002 loss per share (improved from CA$0.012 loss in 2Q 2023). Revenue: CA$5.83m (up 3.4% from 2Q 2023). Net loss: CA$123.7k (loss narrowed 81% from 2Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Breakeven Date Change • Aug 22
Forecast to breakeven in 2026 The 5 analysts covering Wishpond Technologies expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of CA$2.30m in 2026. Average annual earnings growth of 96% is required to achieve expected profit on schedule. Aankondiging • Aug 19
Wishpond Technologies Ltd. Launches New Integrations Marketplace to Enhance Automation and Improve Sales Effectiveness Wishpond Technologies Ltd. announced the launch of a new Integrations Marketplace for its AI-powered virtual sales agent, SalesCloser AI. The Integrations Marketplace is designed to seamlessly integrate SalesCloser with a wide range of tools, including CRM systems, email marketing platforms, and task management software, enhancing efficiency and sales effectiveness through advanced workflow automation. The Company also believes this new offering will enable SalesCloser to attract more customers by simplifying the integration process with existing back-office systems of record, ultimately making it easier to sell to customers. Potential use cases for these integrations are extensive, from syncing leads from CRM systems to SalesCloser, to enhancing customer service with Zendesk Chat, and automating and managing tasks with Asana and other task management apps. The Company's Propel IQ platform offers an "all-in-one" marketing suite that provides companies with marketing, promotion, lead generation, ad management, referral marketing, sales conversion and outbound sales automation capabilities in one integrated platform. The Company has developed cutting-edge marketing technology solutions, including an AI powered website builder, an AI email automation tool, an AI Sales Agent and continues to add new AI enabled features and applications. Aankondiging • Aug 14
Wishpond Technologies Ltd. to Report Q2, 2024 Results on Aug 21, 2024 Wishpond Technologies Ltd. announced that they will report Q2, 2024 results Pre-Market on Aug 21, 2024 Aankondiging • Jul 08
Wishpond Technologies Ltd. Announces CFO Changes Wishpond Technologies Ltd. announced the appointment of Adrian Lim as Chief Financial Officer (CFO), effective immediately. Reporting directly to Mr. Ali Tajskandar, CEO of Wishpond, Mr. Lim will have responsibility for all finance, accounting, financial reporting, audit, tax, and capital planning functions. Mr. Lim assumes the CFO role from David Pais who has been the company's CFO for the past 2 years. The appointment of Mr. Lim remains subject to the final approval of the TSX Venture Exchange. Mr. Lim brings extensive financial leadership experience to his new role as Chief Financial Officer at Wishpond. Previously serving as Group Financial Controller for over three years at the Company, Mr. Lim played a pivotal role in guiding the Company through the multiple acquisitions and growth following the Company going public in December 2020. Before joining Wishpond, Mr. Lim honed his skills in the Assurance Practice at Ernst & Young LLP in Seattle, WA, specializing in leading public company audits and transactions across technology, biotech, and Fortune 500 sectors. He also gained valuable financial experience while at BDO Canada LLP in Vancouver, BC. Mr. Lim holds a BCom from the University of British Columbia, has a CPA designation from CPABC, and has completed the CPA examination in the United States. Major Estimate Revision • May 28
Consensus EPS estimates upgraded to CA$0.025 loss, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from CA$26.3m to CA$25.9m. 2024 losses expected to reduce from -CA$0.037 to -CA$0.025 per share. Software industry in Canada expected to see average net income growth of 29% next year. Consensus price target of CA$1.44 unchanged from last update. Share price fell 7.5% to CA$0.49 over the past week. Reported Earnings • May 22
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: CA$0.009 loss per share (improved from CA$0.015 loss in 1Q 2023). Revenue: CA$6.05m (up 7.6% from 1Q 2023). Net loss: CA$467.6k (loss narrowed 41% from 1Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 25%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Aankondiging • May 17
Wishpond Technologies Ltd. to Report Q1, 2024 Results on May 22, 2024 Wishpond Technologies Ltd. announced that they will report Q1, 2024 results Pre-Market on May 22, 2024 Price Target Changed • Apr 22
Price target decreased by 13% to CA$1.44 Down from CA$1.66, the current price target is an average from 6 analysts. New target price is 149% above last closing price of CA$0.58. The company is forecast to post a net loss per share of CA$0.06 next year compared to a net loss per share of CA$0.035 last year. Reported Earnings • Apr 18
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: CA$0.035 loss per share (further deteriorated from CA$0.033 loss in FY 2022). Revenue: CA$23.1m (up 13% from FY 2022). Net loss: CA$1.89m (loss widened 8.0% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.1%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in Canada. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Aankondiging • Apr 11
Wishpond Technologies Ltd. to Report Q4, 2023 Results on Apr 18, 2024 Wishpond Technologies Ltd. announced that they will report Q4, 2023 results on Apr 18, 2024 Aankondiging • Apr 04
Wishpond Technologies Ltd. Launches SalesCloser AI, A Next Generation Ai-Powered Virtual Sales Agent Wishpond Technologies Ltd. announced the launch of SalesCloser AI ("SalesCloser"), the Company's next generation AI-powered virtual sales agent. SalesCloser heralds a new era of personalized, round-the-clock sales calls and product demos for businesses without the need for human intervention. The platform can work 24x7 to engage leads, close deals, and deliver insights in ten different languages. SalesCloser can also be adapted for use across a diverse range of industries such as software/SaaS, professional services, financial services, education, travel & hospitality, insurance, and more. This innovative AI-based platform can act as a "Virtual AI Representative" and can engage in conversations and deliver presentations in real-time through various meeting applications. Once a customer provides Wishpond a relevant knowledge base for upload, the custom-trained AI can conduct sales presentations tailored to that business and can manage the entire sales process from discovery to close without the need for human interventions. As a result, the platform allows businesses to automate tasks, scale their sales team and sell globally - all with detailed analytics to enable continuous improvement. SalesCloser can also been adapted to different customer applications. Some other potential uses for SalesCloser include AI products designed to function as sales development representatives, product trainers, customer support agents, product onboarding specialists or customer success representatives. Wishpond also believes that there are further use cases for SalesCloser, such as market research and data collection, translation services, hiring and recruiting, autoresponders, education, and many more that may evolve over time. Aankondiging • Mar 23
Wishpond Technologies Ltd., Annual General Meeting, May 23, 2024 Wishpond Technologies Ltd., Annual General Meeting, May 23, 2024. Aankondiging • Jan 18
Wishpond Technologies Ltd. Provides Earnings Guidance for the Year 2024 Wishpond Technologies Ltd. provided earnings guidance for the year 2024. For the year, the company expects improvements in revenue growth in 2024, driven by increasing sales of Propel IQ and the introduction of AI enabled marketing products. Aankondiging • Dec 08
Wishpond Files Patent for AI Enabled Virtual Representative Wishpond Technologies Ltd. announces that the Company has filed a non-provisional utility patent, entitled Virtual Artificial Intelligence (AI) Representative, to protect the underlying technologies of its upcoming SalesCloser AI platform that can perform automated demos, calls and presentations. The technology is a breakthrough in AI-powered presentation technology utilizing advanced large language models and deep learning techniques for voice synthesis. This innovative AI-based platform acts as a "Virtual AI Representative'' and can engage in conversations and deliver presentations in real-time through various meeting applic ations, showcasing its versatility and efficiency. At the core of this innovative system is a trainable state machine, adept at adjusting to diverse scenarios to provide both context and a personalized touch to each presentation. This ensures that the content delivered is not only relevant but also tailored to the audience's needs and preferences. Working in tandem with the state machine is a controller unit, functioning as the central brain of the invention, as it meticulously oversees numerous threads throughout the presentation, ensuring a smooth and coherent flow of information and interaction, minimal delay and a natural conversation flow. The Virtual AI Representative can manage a zoom call during conversations, displaying context-related and personalized visuals that enhance the engagement and relatability of the presentation. The visual aids play a crucial role in creating a more immersive and interactive experience for the participants. Price Target Changed • Nov 17
Price target decreased by 7.0% to CA$1.66 Down from CA$1.78, the current price target is an average from 6 analysts. New target price is 219% above last closing price of CA$0.52. Stock is down 37% over the past year. The company is forecast to post a net loss per share of CA$0.037 next year compared to a net loss per share of CA$0.033 last year. Reported Earnings • Nov 17
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: CA$0.006 (up from CA$0.003 loss in 3Q 2022). Revenue: CA$5.76m (up 5.1% from 3Q 2022). Net income: CA$329.2k (up CA$473.8k from 3Q 2022). Profit margin: 5.7% (up from net loss in 3Q 2022). The move to profitability was primarily driven by higher revenue. Revenue missed analyst estimates by 9.3%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Software industry in Canada. Aankondiging • Nov 03
Wishpond Technologies Ltd. to Report Q3, 2023 Results on Nov 16, 2023 Wishpond Technologies Ltd. announced that they will report Q3, 2023 results Pre-Market on Nov 16, 2023 Aankondiging • Sep 27
Wishpond Announces New Sales Email AI Wishpond Technologies Ltd. announce the launch of Sales Email AI. Engineered to deliver tailored responses to emails from potential clients, Wishpond anticipates that Sales Email AI will provide its users a level of personalization that sets it apart from traditional automated responses. Designed to elevate and streamline sales communications, Sales Email AI will be a new feature of PersistIQ, Wishpond's outbound sales solution. To utilize Sales Email AI, customers of PersistIQ and Propel IQ simply need to connect their business email account to PersistIQ, answer a questionnaire designed to influence the artificial intelligence's (AI) interactions with prospects and customers, and then install PersistIQ's Google Gmail extension. The installation of PersistIQ's extension into Gmail will then embed the AI responder into the business's email account. Furthermore, by continually learning from user interactions, Sales Email AI is expected to refine its capabilities over time, with the intent that each response will be finely tuned to meet the unique needs and preferences of the recipient. Aankondiging • Aug 18
Wishpond Technologies Ltd. Provides Earnings Guidance for the Fiscal Year 2023 Wishpond Technologies Ltd. provided earnings guidance for the fiscal year 2023. For the year, the company's outlook continues to look promising with increasing sales and improving profit margins. Reported Earnings • Aug 18
Second quarter 2023 earnings: EPS in line with expectations, revenues disappoint Second quarter 2023 results: CA$0.012 loss per share (improved from CA$0.016 loss in 2Q 2022). Revenue: CA$5.64m (up 13% from 2Q 2022). Net loss: CA$645.0k (loss narrowed 23% from 2Q 2022). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Software industry in Canada. Reported Earnings • May 26
First quarter 2023 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2023 results: CA$0.015 loss per share (improved from CA$0.022 loss in 1Q 2022). Revenue: CA$5.62m (up 38% from 1Q 2022). Net loss: CA$790.2k (loss narrowed 30% from 1Q 2022). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in Canada. Aankondiging • May 19
Wishpond Technologies Ltd. to Report Q1, 2023 Results on May 25, 2023 Wishpond Technologies Ltd. announced that they will report Q1, 2023 results at 9:30 AM, US Eastern Standard Time on May 25, 2023 Reported Earnings • Apr 15
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: CA$0.033 loss per share (improved from CA$0.095 loss in FY 2021). Revenue: CA$20.5m (up 39% from FY 2021). Net loss: CA$1.75m (loss narrowed 64% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 25%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Software industry in Canada. Major Estimate Revision • Nov 24
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from CA$21.1m to CA$20.7m. 2022 losses expected to reduce from -CA$0.05 to -CA$0.04 per share. Software industry in Canada expected to see average net income decline 6.5% next year. Consensus price target down from CA$1.85 to CA$1.77. Share price was steady at CA$0.80 over the past week. Aankondiging • Nov 18
Wishpond Technologies Ltd. Provides Earnings Guidance for the Fourth Quarter of 2022 and Full Year 2023 Wishpond Technologies Ltd. provided earnings guidance for the fourth quarter of 2022 and full year 2023. The company expects to achieve record revenue in fourth quarter of 2022, driven by the growth of its sales team and the introduction of bundled product offerings. The company expects to maintain its strong organic growth profile into next year as its revenue and earnings growth are projected to continue in 2023 with further integration of its acquisitions, an increase in cross-selling opportunities, new product launches and higher customer retention. Reported Earnings • Nov 18
Third quarter 2022 earnings released: CA$0.003 loss per share (vs CA$0.025 loss in 3Q 2021) Third quarter 2022 results: CA$0.003 loss per share (improved from CA$0.025 loss in 3Q 2021). Revenue: CA$5.48m (up 38% from 3Q 2021). Net loss: CA$144.7k (loss narrowed 89% from 3Q 2021). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Software industry in Canada. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Director Hossein Malek is the most experienced director on the board, commencing their role in 2020. Independent Director Lloyed Lobo was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Aankondiging • Nov 09
Wishpond Technologies Ltd. to Report Q3, 2022 Results on Nov 17, 2022 Wishpond Technologies Ltd. announced that they will report Q3, 2022 results at 9:30 AM, US Eastern Standard Time on Nov 17, 2022 Aankondiging • Nov 03
Wishpond Technologies Ltd. Announces Board Changes Wishpond Technologies Ltd. announced that Lloyed Lobo has joined its board of directors ("Board") as an independent director and member of the Audit Committee effective November 1, 2022. Mr. Lobo is a seasoned leader with over 15 years of experience building technology products and companies from conception to scale. He is the co-founder of Boast.AI, a fintech platform that helps companies fund their R&D and innovation projects. In addition, Mr. Lobo also runs Traction, a non-profit community of more than one hundred thousand subscribers, where leaders from the fastest growing companies share learnings on building, growing, and scaling companies through podcasts, meetups and conferences. Previously Mr. Lobo led sales, marketing and product for several start-ups and was a venture partner at a Silicon Valley based venture capital fund. Mr. Lobo has been covered in a number of mainstream media publications including Forbes, TechCrunch, Fox Business, Bloomberg, SF Biz Journals, Globe and Mail, and VentureBeat. He holds a Bachelor of Engineering degree in software engineering from Lakehead University, Ontario, Canada. Mr. Lobo replaces Arinder Mahal, who has resigned from the Board effective November 1, 2022 in order to give him more time to devote to his other projects. Price Target Changed • Sep 29
Price target decreased to CA$1.85 Down from CA$2.03, the current price target is an average from 5 analysts. New target price is 172% above last closing price of CA$0.68. Stock is down 45% over the past year. The company is forecast to post a net loss per share of CA$0.045 next year compared to a net loss per share of CA$0.095 last year. Major Estimate Revision • Aug 30
Consensus estimates of losses per share improve by 10% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from CA$20.8m to CA$21.2m. EPS estimate increased from -CA$0.05 per share to -CA$0.04 per share. Software industry in Canada expected to see average net income growth of 9.9% next year. Consensus price target down from CA$2.03 to CA$1.92. Share price was steady at CA$0.81 over the past week. Reported Earnings • Aug 24
Second quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2022 results: CA$0.016 loss per share (up from CA$0.029 loss in 2Q 2021). Revenue: CA$5.01m (up 55% from 2Q 2021). Net loss: CA$839.5k (loss narrowed 45% from 2Q 2021). Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 36%, compared to a 23% growth forecast for the Software industry in Canada. Aankondiging • Aug 11
Wishpond Technologies Ltd. to Report Q2, 2022 Results on Aug 24, 2022 Wishpond Technologies Ltd. announced that they will report Q2, 2022 results Pre-Market on Aug 24, 2022 Aankondiging • Jul 21
Wishpond Technologies Ltd. Announces Revenue Expectation for Second Quarter of 2022 Wishpond Technologies Ltd. announced revenue expectation for second quarter of 2022. The company is expecting Q2-2022 to be the strongest quarter in the Company's history, with revenues exceeding the previous record of $4.7 million achieved in Q4-2021. Aankondiging • Jul 13
Wishpond Technologies Ltd. Announces Launch of All-New Website Builder Product Wishpond Technologies Ltd. announced the launch of an all-new Website Builder product. Every element of this ground-breaking Website Builder has been designed to help businesses generate leads and sales. Unlike other website builders, businesses get access to all of the powerful marketing and lead generation tools they need right out of the box. The Website Builder puts business growth at the forefront, allowing businesses to achieve more from a single platform. The Website Builder is a significant product release for Wishpond as it increases customer retention, reduces churn, and increases customer satisfaction. The Website Builder is equipped and integrated with all of the marketing tools needed to grow a business and increase online sales. This includes lead tracking and segmentation tools, personalization abilities, advanced forms and pop-ups, integration with Wishpond's email marketing tool, referral marketing, calendar functionality, popups, and more. Businesses can use the Website Builder to create social contests or referral campaigns to generate leads, and a convenient appointments widget that connects to Google Calendar makes it easy to schedule meetings. Thanks to the user-friendly platform, businesses can create and publish powerful, marketing-optimized websites without needing any web design or coding experience. As a developer of cutting-edge online marketing software solutions, the Website Builder integrates with Wishpond's complete software suite to give businesses all the tools they need to develop an impressive online marketing presence through a single platform. The Website Builder gives users access to pre-built and optimized-for-marketing templates that can be easily customized with a drag-and-drop editor. Each web page is optimized for all devices with just one click. This allows almost anyone to effortlessly build a high-performance website with complete marketing functionality. Wishpond's payment integration allows users to add a "buy" button to their websites and booking calendars to receive one-time payments or provide subscription-based services. These features all integrate with Wishpond's Leads Database, allowing businesses to track and score all their leads. Businesses can analyze lead behavior, see what users do and where they converted to maximize the value from each visitor. The Website Builder also works with Wishpond's powerful Email Marketing tool to send newsletters or set up sales automation emails and workflows. Businesses get everything they need to build and promote their online presence as they grow, all in one convenient platform. Major Estimate Revision • Jun 01
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from CA$22.1m to CA$21.1m. 2022 losses expected to reduce from -CA$0.06 to -CA$0.05 per share. Software industry in Canada expected to see average net income decline 2.8% next year. Consensus price target down from CA$2.69 to CA$2.10. Share price rose 9.8% to CA$0.67 over the past week. Reported Earnings • May 27
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: CA$0.022 loss per share (up from CA$0.024 loss in 1Q 2021). Revenue: CA$4.08m (up 41% from 1Q 2021). Net loss: CA$1.13m (loss narrowed 5.2% from 1Q 2021). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 11%. Over the next year, revenue is forecast to grow 45%, compared to a 25% growth forecast for the industry in Canada. Aankondiging • May 18
Wishpond Technologies Ltd. to Report Q1, 2022 Results on May 26, 2022 Wishpond Technologies Ltd. announced that they will report Q1, 2022 results Pre-Market on May 26, 2022 Price Target Changed • Apr 28
Price target decreased to CA$2.75 Down from CA$3.00, the current price target is an average from 4 analysts. New target price is 162% above last closing price of CA$1.05. Stock is down 39% over the past year. The company is forecast to post a net loss per share of CA$0.04 next year compared to a net loss per share of CA$0.095 last year. Board Change • Apr 27
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). Director Arinder Mahal is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Aankondiging • Apr 12
Wishpond Technologies Ltd. to Report Q4, 2021 Results on Apr 27, 2022 Wishpond Technologies Ltd. announced that they will report Q4, 2021 results on Apr 27, 2022 Aankondiging • Apr 06
Wishpond Technologies Ltd. (TSXV:WISH) acquired substantially all the business and assets of Viral Loops Limited for GBP 2.3 million. Wishpond Technologies Ltd. (TSXV:WISH) acquired substantially all the business and assets of Viral Loops Limited for GBP 2.3 million on April 1, 2022. In related transaction consisting of an upfront payment of GBP 1,380,000 from cash on hand and a one-year performance earn-out in the expected amount of GBP 920,000. Viral Loops has strong revenue growth and over 15% EBITDA margins. Revenue in 2021 was GBP 800,000 generated from more than 700 diversified customers, half of whom are based in the United States.
Wishpond Technologies Ltd. (TSXV:WISH) completed the acquisition of substantially all the business and assets of Viral Loops Limited for GBP 2.3 million on April 1, 2022. Aankondiging • Mar 05
Wishpond Technologies Ltd. Launches New Email Marketing Platform Wishpond Technologies Ltd. announced the launch of an all-new email marketing platform with new features to help businesses increase sales and engage with their customers. Wishpond's new email marketing platform includes key feature improvements such as: (i) an improved user-friendly interface; (ii) the ability to Preview Email Text; (iii) support for dynamic, interactive emails with Accelerated Mobile Pages; and (iv) a new Email API (Application Programming Interface). Every day, thousands of businesses rely on Wishpond to run their email outreach campaigns to nurture and build relationships with their customers. Wishpond's email marketing platform helps these businesses nurture and build relationships with their customers. The updated email features and user experience are already helping small businesses to achieve even greater levels of engagement, deliver emails campaigns that achieve better results and generate higher return on investment. Preview Email Text provides merchants the ability to allow their customers to see a snapshot of emails in their inbox, increasing open rate and improving overall email campaign performance. With research showing that 35% of email recipients open emails based on the subject line, Preview Email Text helps to set up an email campaign for success. AMP Email support allows merchants to add dynamic content to their emails to create a more engaging and immersive experience, increasing click-through and conversion rates. With more than 50% of email recipients wanting to interact with content inside their email and 60% of email recipients more likely to engage with an interactive email, AMP emails allow merchants to increase sales with a higher likelihood of customers taking key actions such as adding an item to their shopping cart, RSVP to a webinar, completing an online survey or booking an appointment or a demo and more because they don't have to leave their email inbox. Email API provides dedicated support to instantly solve deliverability issues. Clients can use the Email API to gain deeper understanding of email performance. By sending with a world-class API, Wishpond's new email marketing platform makes it easy for companies to scale their email volume without sacrificing email performance. This feature optimizes email campaigns for high-volume senders, improving deliverability and helping clients send their emails to the right inbox every time. The Email API will allow Wishpond to further expand to larger and more sophisticated clients. All of this new email marketing functionality is available out of the box for all Wishpond merchants and is managed inside Wishpond's easy to use all-in-one marketing platform to create, manage, and track email campaigns. Getting started with email marketing is simple and easy, and in just a few steps any business can start nurturing leads and engaging subscribers from our drag and drop email editor. Merchants can use advanced features and powerful marketing automations to create immersive user experiences and use data insights to create effective and targeted campaigns. Aankondiging • Jan 22
Wishpond Technologies Ltd.'s Brax Announces the Release of Universal Ads Editor Wishpond Technologies Ltd. announced that its Brax business has been successfully integrated with Wishpond. In addition, Brax announced the release of its Universal Ads Editor, which allows advertisers to build ads once and instantly launch them across several different native ad platforms. Brax has effectively adopted Wishpond's outbound sales practices including Wishpond's lead prospecting, sales development, and sales pipeline management processes. Brax previously relied on inbound sales and marketing for new customer acquisitions and management believes this ne outbound channel significantly increases the velocity at which Brax is expected to be able to onboard new customers. Wishpond has also begun to realize synergies with Brax through cross-selling and the addition of new sales packages available to both Wishpond and Brax customers. Brax opens new sales opportunities to Wishpond's current customer base by enabling cross-selling on native advertising platforms. This trend is expected to play a pivotal role for both companies to increase their lifetime value of customers. Further, Brax has successfully integrated its product and customer support teams with Wishpond allowing for increased efficiency. Brax has also integrated shared services with Wishpond, through the account management and sales teams. In addition, Brax has begun investing in marketing and has implemented inbound marketing strategies such as blogging and email marketing, and has recently launched a new affiliate program designed to leverage Brax's existing customer base to drive new revenue. Brax's newly launched Universal Ads Editor allows advertisers to create ads once and launch them across multiple platforms – in just a few clicks. The new product feature supports ads across five native ad platforms including Taboola, Outbrain, RevContent, Content.ad, and Yahoo. Being able to build ads once and instantly launch them across multiple native ad platforms drastically speeds up the ad creation process for advertisers and positions Brax's platform as a player in the ad creation space. The product also includes a Pexels integration, where users can instantly add thousands of stock images directly from inside the platform. Brax notifies users when ad text and descriptions are compliant with each platform's specifications and allows the creation of up to 100 ad variations at once which can be published across multiple ad networks in a few clicks. Aankondiging • Jan 05
Wishpond Technologies Ltd. (TSXV:WISH) acquired Certain Assets and Specific Liabilities Relating to Winback.chat from AtlasMind Inc. for $0.7 million. Wishpond Technologies Ltd. (TSXV:WISH) entered into an asset purchase agreement to acquire Certain Assets and Specific Liabilities Relating to Winback.chat from AtlasMind Inc. for $0.7 million on December 13, 2021. The transaction will be financed by entirely from cash on hand. The transaction is subject to the approval of the TSX Venture Exchange. The transaction is expected to close in early January 2022.
Wishpond Technologies Ltd. (TSXV:WISH) completed the acquisition of Certain Assets and Specific Liabilities Relating to Winback.chat from AtlasMind Inc. on January 4, 2022. Winback is expected to be immediately accretive to Wishpond. Aankondiging • Dec 14
Wishpond Technologies Ltd. (TSXV:WISH) entered into an asset purchase agreement to acquire Certain Assets and Specific Liabilities Relating to Winback.chat from AtlasMind Inc. for $0.7 million Wishpond Technologies Ltd. (TSXV:WISH) entered into an asset purchase agreement to acquire Certain Assets and Specific Liabilities Relating to Winback.chat from AtlasMind Inc. for $0.7 million on December 13, 2021. The transaction will be financed by entirely from cash on hand. The transaction is subject to the approval of the TSX Venture Exchange. The transaction is expected to close in early January 2022. Major Estimate Revision • Dec 01
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 expected loss increased from -CA$0.08 to -CA$0.09 per share. Revenue forecast unchanged at CA$14.5m. Media industry in Canada expected to see average net income growth of 6.7% next year. Consensus price target up from CA$3.00 to CA$3.17. Share price rose 13% to CA$1.42 over the past week. Reported Earnings • Nov 26
Third quarter 2021 earnings: Revenues exceed analyst expectations Third quarter 2021 results: Revenue: CA$3.98m (up 90% from 3Q 2020). Net loss: CA$1.28m (down CA$1.37m from profit in 3Q 2020). Revenue exceeded analyst estimates by 8.4%. Over the next year, revenue is forecast to grow 53%, compared to a 4.3% growth forecast for the industry in Canada. Aankondiging • Sep 02
Wishpond Technologies Ltd. (TSXV:WISH) completed the acquisition of certain assets and specific liabilities from AtlasMind Inc. Wishpond Technologies Ltd. (TSXV:WISH) entered into an asset purchase agreement to acquire certain assets and specific liabilities from AtlasMind Inc. for approximately $2 million on August 27, 2021. The purchase price of $2 million consists of $1.33 million paid in cash and a non-binding targeted payout of $0.666,666 in earn-out payments, subject to certain deductions, based on the future revenue of the purchased assets. The earn-out payments will commence three months after the closing of the acquisition, will be payable on a quarterly basis, ending on the twelve-month anniversary of the closing and will be payable in cash or by the issuance of common shares of Wishpond, at the sole discretion of Wishpond. Any shares issued in connection with the acquisition will be subject to a restricted period of four months and one day from the date of issuance, as well as restrictions pursuant to applicable US securities laws. The closing of the acquisition is subject to the approval of the TSX Venture Exchange. TSX Venture Exchange (the 'Exchange") has accepted for filing documentation pertaining to an asset purchase agreement (the 'Agreement") dated August 27, 2021. Brax.io is expected to be an immediately accretive acquisition for Wishpond with healthy gross margins of 80% and EBITDA margins exceeding 15%. Brax.io's proprietary ad management platform is expected to expand Wishpond's product offering, enable significant cross selling opportunities and increase Wishpond growth prospects.
Wishpond Technologies Ltd. (TSXV:WISH) completed the acquisition of certain assets and specific liabilities from AtlasMind Inc. on September 1, 2021. Brax will be led by Wishpond's former Vice President of Marketing, Kevin Ho. Brax will operationally function as a separate business unit while maximizing synergies between Wishpond and Brax, including capitalizing on upsell and cross-sell opportunities. The TSX Venture Exchange has conditionally approved the closing of the acquisition. Aankondiging • Aug 31
Wishpond Technologies Ltd. entered into an asset purchase agreement to acquire Certain assets and specific liabilities of AtlasMind Inc. for $2 million. Wishpond Technologies Ltd. entered into an asset purchase agreement to acquire Certain assets and specific liabilities of AtlasMind Inc. for $2 million on August 30, 2021. The consideration consists of (i) $1,333,334 paid in cash; and (ii) a non-binding targeted payout of $666,666 in earn-out payments, subject to certain deductions as provided in the APA based on the future revenue of the purchased assets. The Earn-Out payments will commence three months after the closing of the Acquisition, will be payable on a quarterly basis, ending on the twelve-month anniversary of the closing of the Acquisition and will be payable in cash or by the issuance of common shares of Wishpond, at the sole discretion of Wishpond. The closing of the acquisition is subject to the approval of the TSX Venture Exchange. Brax.io is expected to be an immediately accretive acquisition for Wishpond. Aankondiging • Aug 27
Wishpond Technologies Ltd. Provides Revenue Guidance for the Third Quarter of 2021 Wishpond Technologies Ltd. provided that the company is on track to achieve strong revenue growth in the third quarter of 2021 driven by increased capacity in the Company's sales team, positive contribution from its acquisitions and new product related revenues. Reported Earnings • Aug 26
Second quarter 2021 earnings released: CA$0.029 loss per share (vs CA$0.01 profit in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: CA$3.23m (up 54% from 2Q 2020). Net loss: CA$1.52m (down CA$1.61m from profit in 2Q 2020). Aankondiging • Jun 17
Wishpond Technologies Ltd. Launches Appointments Product Enabling Businesses to Offer Automated Scheduling Wishpond Technologies Ltd. announced the launch of Wishpond Appointments, enabling businesses to offer automated scheduling to their clients. The new product represents the first feature integration of EverGenius software into Wishpond's platform which comes from the Company's acquisition of Invigo Media. Wishpond Appointments enables merchants to provide their customers with online booking, all integrated and managed within their existing Wishpond digital marketing platform. In addition to improving relationship management, Wishpond Appointments improves lead generation enabling customers to more easily drive the growth of their business. Wishpond Appointments is integrated into the Wishpond Landing page product. Wishpond Appointment is ideal for businesses who depend on booking meetings to close sales and manage customer relationships, such as hair salons, gyms, B2B sales-driven companies, and other service-based organizations. These businesses can now add a calendar directly on their landing page or website to setup client appointments or consultations. This calendar can also be used to capture new lead information for these businesses as clients schedule their own appointments. Businesses can then connect these leads to Wishpond's email and digital marketing tools to accelerate the growth of their business. Wishpond Appointments is an even more powerful tool to drive sales when used as part of broader marketing campaigns with Wishpond's new Marketing Funnels and Payments products announced earlier this year. A customer going through the user journey of a Wishpond-powered marketing campaign could book an appointment, pay for services in advance of the meeting, and be upsold additional offerings during the same cycle all within a seamless customer experience centralized in Wishpond's platform. Wishpond Appointments is an add-on for new and existing Wishpond Landing Pages customers. For customers using other calendar and scheduling solutions, Wishpond experts will ensure a smooth transition to the Company's new product as part of existing Wishpond services. Major Estimate Revision • Jun 02
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from CA$14.2m to CA$14.4m. Forecast EPS reduced from -CA$0.06 to -CA$0.075 per share. Media industry in Canada expected to see average net income growth of 13% next year. Consensus price target of CA$2.97 unchanged from last update. Share price was steady at CA$1.47 over the past week. Aankondiging • May 28
Wishpond Technologies Ltd. Provides Earnings Guidance for the Second Quarter and Full Year 2021 Wishpond Technologies Ltd. provided earnings guidance for the second quarter and full year 2021. For the year the company expected to increase the Company's MRR through organic growth and acquisitions; accelerate organic growth with investments in the Company's sales and marketing teams functions; achieve positive adjusted EBITDA for the full year; follow a disciplined acquisition and capital allocation plan; invest in research and development to expand the Company's product offerings and intellectual property; and gain synergistic benefits from acquisitions through cross-selling the Company's products and services across the different parts of the growing organization.
For the second quarter the company expected that it is on track to achieve strong organic growth in second quarter of 2021 driven by increased capacity in the Company's sales team, positive contribution from its acquisitions and new product related revenues. The Company also expects its higher level of operating spend to continue in second quarter of 2021, primarily as a result of increased headcount in Wishpond's sales and research and development teams, which are necessary investments for the long-term growth of the Company.