Wishpond Technologies opportunities “dwarf” past sales, Beacon says

Wishpond Technologies (Wishpond Technologies Stock Quote, Chart, News, Analysts, Financials TSXV:WISH) is keeping both its “Buy” rating and $0.75 12-month price target from Beacon Securities analyst Gabriel Leung, who sees significant upside driven by the early traction of the company’s AI-powered sales solution.

Wishpond’s fourth-quarter 2024 results, released April 24, showed revenue of $4.7-million and adjusted EBITDA of $331,000.

The company saw weaker performance due to a legacy email delivery customer. Still, Leung noted that most of the growth from its SalesCloser AI product occurred in Q1 2025 and was not yet reflected in Q4 results.

“The company is exploring new sales outreach initiatives and strategic channel partnerships to accelerate the growth of SalesCloser (for example its recent collaboration agreement with Venops, which is a leader in healthcare regulatory compliance and consulting services). It has also recently increased its account executive headcount to 32 from 25 at the end of Q4.,” Leung wrote in his April 24 investors note

Leung believes the product is already showing meaningful momentum, with $800,000 in annual recurring revenue and over 130 active clients at $600 monthly. He says the pipeline suggests even more substantial growth ahead.

Looking into CY25, the company expects to accelerate growth (mostly in H2 2025) primarily via sales of SalesCloser AI, which is now generating $800k in ARR (comprised of 130 active clients).

“The majority of SalesCloser growth occurred in Q1 2025, so it was not reflected in the Q4 results,” Leung wrote. “We understand the SalesCloser pipeline is full with opportunities that potentially dwarf the current $800k ARR.”

Leung thinks Wishpond will generate $0.3-million in adjusted EBITDA on $18.0-million in revenue in fiscal 2025. He expects those numbers to improve to $1.6-million in adjusted EBITDA on $21.9-million in revenue in fiscal 2026.

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