Wishpond Achieves 90% Revenue Growth and Record Revenue in Third Quarter 2021
Summary
"Wishponds revenue in Q3 increased by 90% YoY driven by the success of our expanded sales team, new product introductions and the acquisitions of Invigo, PersistIQ and Brax. Brax is a rapidly growing and profitable Software-as-a-Service business that offers a robust advertising platform for the management of a companys digital ads across multiple sources and is expected to be immediately accretive to Wishpond. The investments made in the first half of the year in expanding Wishponds sales and product development teams are already beginning to have a beneficial effect on the Companys financial performance. In addition, Wishpond has developed a robust pipeline of potential acquisition opportunities that are expected to add revenue and EBITDA growth as well as expand the Companys product and market capabilities. In this press release, Wishpond has used the following terms ("Non-GAAP Financial Measures") that are not defined by International Financial Reporting Standards ("IFRS"), but are used by management to evaluate the performance of Wishpond and its business: earnings before interest, taxes, depreciation and amortization ("EBITDA"), adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA"), gross profit and gross margin.
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