VANCOUVER, BC, Aug. 26, 2026 /PRNewswire/ -- Wishpond Technologies Ltd. (TSXV: WISH) (OTCQX: WPNDF) (the "Company" or "Wishpond"), a provider of AI-enabled marketing-focused online business solutions, announces that it has filed its interim consolidated financial statements (the "Interim Financial Statements") and management's discussion and analysis (the "MD&A") for Q2-2026, representing the three and six months ended June 30, 2026. Copies of the Interim Financial Statements and MD&A are available on the Company's profile on SEDAR+ at www.sedarplus.ca.
Jordan Gutierrez, Wishpond's Chief Executive Officer, commented, "The second quarter was a transition period for Wishpond. With the spin-out of SalesCloser Technologies Ltd. ("SalesCloser") and the divestiture of Viral Loops Limited ("Viral Loops") both completed in the first quarter, our work in Q2 was focused internally -- aligning the Company's cost structure to the size of the business and focusing on the core marketing technology platform."
Adrian Lim, Wishpond's Chief Financial Officer, commented, "Our priorities through the balance of 2026 are a leaner operating base, improved retention in the core platform and disciplined execution. Wishpond shareholders also continue to participate in SalesCloser's progress through the Company's approximately 62.87% interest in SalesCloser."
Second Quarter 2026 Financial Highlights:
-- Wishpond achieved quarterly revenue of $2,350,470 during Q2-2026
(Q2-2025: $3,710,437). The decline primarily reflected the disposal of
substantially all of the assets of the Viral Loops business on March 9,
2026, which removed a full quarter of Viral Loops' revenues from the
Company's revenue base, together with reduced contribution from
lower-margin revenue streams and lower sales capacity following cost
optimization initiatives.
-- Wishpond achieved Gross Profit of $1,556,859 in Q2-2026 (Q2-2025:
$2,527,282). The reduction in Gross Profit is primarily due to lower
revenue in the quarter.
-- Wishpond achieved a Gross Margin percentage of 66% during Q2-2026
(Q2-2025: 68%).
-- During Q2-2026, Wishpond reported negative Adjusted EBITDA(1) of
$1,569,306 (Q2-2025: negative $228,116). The quarter's net loss of
$2,160,836 includes $202,129 of reverse takeover listing expenses and
$138,168 of stock-based compensation expenses, together totalling
$340,297. The substantial majority of the charges arising from the
SalesCloser qualifying transaction -- a $2,648,096 reverse takeover
listing expense and $1,223,180 of stock-based compensation -- were
recognized in Q1-2026 on closing of the transaction on March 26, 2026 and
are reflected in the six-month figures below. Net loss for the quarter
and the six-month period also reflects the derecognition of accounts
payable balances of $179,819 that are no longer considered payable,
recognized as a non-cash gain in other income. Of the Q2-2026 net loss,
$1,490,661 is attributable to shareholders of Wishpond and $670,175 to
the non-controlling interest in SalesCloser. Wishpond's consolidated
results include SalesCloser, which remains in a growth and investment
phase and contributed negative Adjusted EBITDA of $1,421,113 in the
quarter; excluding that contribution, Wishpond's core business generated
negative Adjusted EBITDA of $148,193.
Events Subsequent to June 30, 2026:
-- On July 27, 2026, the Company received a notice of default from its
senior lender in respect of a financial covenant under a forbearance
agreement with the senior lender (the "Forbearance Agreement"). The
breach arose partially from the timing of the Viral Loops divestiture
relative to the forecast against which such covenant was measured. The
lender has not waived the default and has reserved its rights and, as at
the date of hereof, has not demanded repayment or termination of the
Forbearance Agreement. As disclosed in Note 1 to the Interim Financial
Statements, these events and conditions indicate a material uncertainty
that may cast significant doubt on the Company's ability to continue as a
going concern.
Outlook:
For 2026, Wishpond is focused on strengthening its core marketing technology platform and sales solutions business, with an emphasis on its core Wishpond marketing suite, improving operating efficiency and enhancing financial flexibility. Following the completion of the Viral Loops divestiture and the SalesCloser transaction subsequent to year-end, the Company is focused on executing against its core business and aligning resources around the products, services and customer relationships that management believes are most central to Wishpond's long-term operating performance.
The Company has taken steps in 2025 and 2026 to streamline operations and align its cost structure more closely with revenue levels, and management intends to continue those efforts through the second half of 2026. Wishpond remains focused on supporting the performance of its core platform and product suite, improving customer acquisition and retention and continuing to develop AI-enabled capabilities intended to enhance the effectiveness of its marketing and sales solutions.
Following the completion of the SalesCloser transaction, Wishpond continues to maintain exposure to SalesCloser through its 62.87% ownership interest as at June 30, 2026, while management remains focused on executing against the Company's core marketing technology business. Jordan Gutierrez was appointed Chief Executive Officer of Wishpond effective March 26, 2026, and the Company enters the balance of 2026 with a more focused operating structure and clearer strategic priorities.
Management's key priorities for 2026 are as follows:
-- strengthen organic revenue performance;
-- improve margins and operating efficiency through disciplined cost
management;
-- reduce churn and increase long-term customer value; and
-- improve liquidity and financial flexibility.
Selected Financial Highlights:
The tables below set out selected financial information relating to Wishpond and should be read in conjunction with the Interim Financial Statements and MD&A, copies of which can be found under Wishpond's profile on SEDAR+ at www.sedarplus.ca.
Three-months Three-months Six-months Six-months
ended ended ended ended
June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025
$ $ $ $
-------------- -------------- -------------- --------------
Revenue 2,350,470 3,710,437 5,115,488 7,800,078
Gross profit 1,556,859 2,527,282 3,408,994 5,253,007
Gross margin 66 % 68 % 67 % 67 %
Adjusted
EBITDA(1) (1,569,306) (228,116) (2,361,775) (405,488)
Credit
facility --
end of
period 913,315 2,373,397 913,315 2,373,397
Cash -- end of
the
period(2) 4,347,826 606,084 4,347,826 606,084
Net (decrease)
increase in
cash during
the period
net of credit
facility (2,699,024) (943,247) 4,110,562 (1,597,641)
Reconciliation to Adjusted EBITDA(1)
Three-months Three-months Six-months Six-months
ended ended ended ended
June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025
$ $ $ $
-------------- -------------- -------------- --------------
Loss before
income taxes (2,160,836) (758,718) (7,302,805) (1,399,168)
Depreciation
and
amortization 387,305 417,435 827,460 829,085
Interest
expense 18,297 40,797 52,022 75,515
Interest
income (8,232) - (10,199) -
Other expenses (146,137) 34,585 (141,654) 81,331
Stock based
compensation
expense 138,168 37,785 1,363,176 7,749
Reverse
takeover
listing
expense 202,129 - 2,850,225 -
-------------- -------------- -------------- -------------- --------------
Adjusted
EBITDA(1) (1,569,306) (228,116) (2,361,775) (405,488)
-------------- -------------- -------------- -------------- --------------
Footnotes:
(1) Adjusted EBITDA is not a financial measure recognized by International
Financial Reporting Standards ("IFRS"), does not have any standardized
meaning prescribed by IFRS and therefore may not be comparable to similar
measures presented by other entities. See "Cautionary Statements --
Non-GAAP Financial Measures" for more information and a definition of
this non-GAAP measure used in this press release.
(2) Consolidated cash as at June 30, 2026 includes cash held at
the SalesCloser Technologies Ltd. (TSXV: SCAI) subsidiary level of
$3,778,297, primarily representing SCAI's $5,449,995 concurrent equity
financing proceeds received on closing of the SalesCloser qualifying
transaction, net of transaction costs and operating expenditures incurred
from March 26 to June 30, 2026. Cash held at the SCAI subsidiary level is
not directly available to satisfy Wishpond's parent-level or Wishpond
core obligations, as SalesCloser is a separately listed entity with an
approximately 37.13% public minority interest.
Note: Consolidated Adjusted EBITDA for Q2-2026 includes negative Adjusted EBITDA of $1,421,113 from SalesCloser Technologies Ltd., which is consolidated into Wishpond's financial results. Excluding this contribution, Adjusted EBITDA for Wishpond core was negative $148,193. Wishpond core is calculated by deducting SalesCloser's standalone results from Wishpond's consolidated results and is not adjusted for intercompany eliminations, purchase accounting or non-controlling interests. This supplemental non-GAAP information is provided to help readers understand the impact of consolidating SalesCloser on the Company's results, does not have a standardized meaning under IFRS, may not be comparable to similar measures presented by other issuers and should not be considered in isolation from, or as a substitute for, Wishpond's consolidated financial results.
On Behalf of the Board of Wishpond
"Jordan Gutierrez"
Chief Executive Officer
Phone: 778-655-4154
About Wishpond Technologies Ltd.
Wishpond is a Vancouver-based provider of AI-enabled marketing and sales solutions that help businesses grow more efficiently. The Company's vision is to create a fully autonomous AI-enabled platform that streamlines the entire customer acquisition journey, from lead generation and engagement to deal closure, enabling businesses to scale cost-effectively while driving higher conversions. Wishpond offers an all-in-one marketing suite that integrates AI-driven tools such as an AI Website Builder and AI Email Automation. The Company serves small-to-medium-sized businesses across various industries, providing a powerful yet cost-effective alternative to fragmented marketing solutions. Wishpond employs a Software-as-a-Service (SaaS) business model, generating most of its revenue from subscription-based recurring revenue, which ensures strong revenue predictability and cash flow visibility while continuously expanding its AI capabilities. Wishpond is listed on the TSXV under the ticker "WISH", and on the OTCQX Best Market under the ticker "WPNDF". For further information, visit: www.wishpond.com.
Cautionary Statements, Summary Information
Information presented in this press release may be only a summary of all available information and does not purport to be a full representation of all figures, notes and discussions provided for in the Interim Financial Statements and the MD&A. Readers are cautioned to read the entirety of the Interim Financial Statements and the MD&A, and to not rely only on the information presented in this press release. In the event of conflict between the provisions of this press release on the one hand, and the Interim Financial Statements and the MD&A on the other hand, the information in the Interim Financial Statements and the MD&A shall govern.
Non-GAAP Financial Measures
In this press release, Wishpond has used the following terms ("Non-GAAP Financial Measures") that are not defined by IFRS, but are used by management to evaluate the performance of Wishpond and its business, including: Adjusted EBITDA. These measures may also be used by investors, financial institutions and credit rating agencies to assess Wishpond's performance and ability to service debt. Non-GAAP Financial Measures do not have standardized meanings prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Securities regulations require that Non-GAAP Financial Measures are clearly defined, qualified and reconciled to their most comparable IFRS financial measures. The intent of Non-GAAP Financial Measures is to provide additional useful information to investors and analysts, and the measures should not be considered in isolation or used as a substitute for measures of performance prepared in accordance with IFRS. Other issuers may calculate Non-GAAP Financial Measures differently. Non-GAAP Financial Measures are identified and defined as follows:
-- Adjusted EBITDA: Adjusted EBITDA should not be construed as an
alternative to net earnings, cash flow from operating activities or other
measures of financial results determined in accordance with Generally
Accepted Accounting Principles as an indicator of the Company's
performance. The Company defines "Adjusted EBITDA" as Income or Loss
before income taxes less interest, depreciation and amortization,
remeasurement of contingent consideration liability, filing fees, credit
facility setup and renewal fees, earn-out remuneration, foreign currency
losses (gains), acquisition related expenses, reverse takeover listing
expense, net other expenditures (income), and stock-based compensation.
The Company believes that Adjusted EBITDA is a meaningful financial
metric as it measures cash generated from operations which the Company
can use to fund working capital requirements, service future interest and
principal debt repayments and fund future growth initiatives.
Forward-Looking Statements
Statements that are not reported financial results or other historical information are forward-looking statements or forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). This press release includes forward-looking statements regarding the Company, its subsidiaries and the industries in which they operate, including statements about, among other things, all information contained under the heading "Outlook" herein, including statements regarding the Company's strategic priorities and objectives for 2026, anticipated improvements in operating efficiency, customer acquisition and retention, churn reduction, liquidity and financial flexibility, expected benefits arising from the Company's cost optimization initiatives, anticipated performance of the Company's core marketing technology platform and sales solutions business, the Company's continued ownership of and exposure to SalesCloser, the future development, commercialization and adoption of products and services incorporating artificial intelligence and references to expected results from the future operations of the Company and its subsidiaries
Sentences and phrases containing or modified by words such as "expect", "anticipate", "plan", "continue", "estimate", "intend", "expect", "may", "will", "project", "predict", "potential", "targets", "projects", "is designed to", "strategy", "should", "believe", "contemplate" and similar expressions, and the negative of such expressions, are not historical facts and are intended to identify forward-looking statements.
Readers are cautioned to not place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements in this press release are reasonable and are based on, among other things, the expectations and analysis of current market trends and opportunities of management of the Company, such forward-looking statements have been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control.
Such risks and uncertainties include, but are not limited to, potential operational inefficiencies due to the change in management and as a result of the SalesCloser transaction and the Viral Loops divestiture, the dilution of the Company's ownership interest in SalesCloser as a result of future share issuances by SalesCloser and the risk that the Company ceases to control and consolidate SalesCloser, the existence of a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern, the risk that the senior lender demands repayment and accelerates the indebtedness or terminates the Forbearance Agreement, the ability of the Company to successfully comply with the terms and conditions of the Forbearance Agreement and its other credit facilities going forward, the adequacy of any of the Company's credit facilities or working capital to provide the Company with sufficient funding or capital, whether the Company's financial and operational goals for 2026 can be realized, economic uncertainty and instability as a result of ongoing inflation and supply chain issues, higher interest rate climate, tightening of credit availability and recessionary risks, pandemic related risks, wars, tariffs, instability in global commodity and securities markets, shifts in consumer and institutional spending and marketing strategies, risks related to data breaches and privacy, the changing global market and competition for the products and services supplied by the Company and the additional risk factors discussed in the continuous disclosure materials of the Company, which are available under the Company's profile on SEDAR+ at www.sedarplus.ca.
The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Wishpond Technologies Ltd.