Program to provide investigational drug to ALS patients who would otherwise be ineligible for clinical trials

SANTA CLARA, Calif., Nov. 20, 2024 /PRNewswire/ — WideTrial, an innovator of expanded access program (EAP) solutions, announced its participation in an NIH-funded collaboration to provide pre-approval access to an investigational ALS drug. The program will offer access to ibudilast, an experimental drug being studied for its potential to slow the progression of ALS, to patients who are ineligible for clinical trials.

The program is funded by a $22 million grant from the National Institute of Neurological Disorders and Stroke (NINDS) and will be led by Dr. Bjorn Oskarsson at Mayo Clinic’s ALS Center of Excellence in Jacksonville, Florida. It aims to enroll 200 ALS patients across all three Mayo Clinic centers and other participating institutions. WideTrial will support the program by engaging a growing group of ALS specialists, enabling greater diversity of patient location and background in the treatment program.

The study aims to measure ibudilast’s effect on ALS progression using a blood test that shows whether neurofilament protein levels have changed in patients with ALS. High levels of neurofilament proteins may indicate damage in neurons.

“We are pleased to support this important initiative to expand access to investigational ALS treatments,” said Jess Rabourn, CEO of WideTrial. “At WideTrial, we believe every patient deserves a chance to explore potential therapies, regardless of their eligibility for traditional research trials. The collaboration is part of our commitment to empowering patients and providers with solutions that democratize access to research-stage medicines.”

WideTrial’s expertise in expanded access programs will help ensure the efficient and compliant implementation of the NIH-funded study.

Expanded Access provides a pathway for patients with serious or life-threatening conditions who cannot participate in clinical trials to access investigational drugs. Group-level Expanded Access Programs (EAPs) allow a greater number of patients and their physicians to explore a new investigational treatment under a well-designed protocol and supply chain, working in harmony with the continued clinical development of the treatment. When integrated into the drug development cycle, EAPs offer benefits such as wider patient engagement, increased chances of discovering response-predictive biomarkers, and information that leads to more targeted pivotal trials.

About WideTrial
WideTrial is an integrated service and technology platform that delivers scalable, group-level Expanded Access programs (EAPs) that are easy to participate in and improve patient access to investigational treatments. The company’s mission is to bridge the gap between patients and potentially life-saving therapies by streamlining and simplifying the EAP process. WideTrial’s expertise and commitment to patient-centric solutions enable healthcare providers and drug developers to efficiently and compliantly offer expanded access to investigational drugs. To learn more, visit widetrial.com.

Media Contact :
WideTrail: Francis Greenleaf | Francis.greenleaf@widetrial.com
ZingPR for WideTrail: Tim Cox | tim@zingpr.com

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SOURCE WideTrial Inc.

Wishpond achieved Adjusted EBITDA(1) of $0.6 million in Q3-2024, an increase of 79% compared to Q3-2023 and the best Adjusted EBITDA level since 2022.Wishpond is pleased to report it achieved an Adjusted EBITDA margin of 11% in Q3-2024 as a result of cost optimizations and restructuring of its sales team.

VANCOUVER, BC, Nov. 20, 2024 /PRNewswire/ – Wishpond Technologies Ltd. (TSXV: WISH) (OTCQX: WPNDF) (the “Company” or “Wishpond”), a provider of marketing-focused online business solutions, announces it has filed its interim consolidated financial statements (the “Interim Financial Statements”) and management’s discussion and analysis (the “MD&A”) for Q3-2024, representing the three and nine months ended September 30, 2024. Copies of the Interim Financial Statements and MD&A are available on the Company’s profile on SEDAR+ at www.sedarplus.ca.

Ali Tajskandar, Wishpond’s Founder and CEO commented, “I am pleased to report that Wishpond has achieved Adjusted EBITDA of $571,228 and an Adjusted EBITDA margin of over 11% in Q3-2024, marking the Company’s most profitable quarter since 2022. Achieving double-digit EBITDA margin is a rare accomplishment for a software company of our size, and I am incredibly proud of our team for reaching this significant milestone. Our dedication to reducing costs and driving greater efficiencies throughout our business has led to substantial improvements in both profitability and cash flow. Further to this, I am excited to share that Wishpond generated cash flows from operations of positive $0.2 million during Q3-2024. Improving our Adjusted EBITDA and cash flow generation has been a core focus for the Company in 2024 and we reiterate this commitment and mandate as we head into 2025.”

Ali Tajskandar further adds, “Wishpond is making exciting strides with its new flagship product, SalesCloser AI (“SalesCloser”), a revolutionary virtual sales agent which leverages artificial intelligence to conduct sales calls and product demos. We are actively exploring new sales outreach programs and potential channel partnerships to expand SalesCloser’s reach, unlock new customer opportunities, and drive broader adoption of the platform. Recently, we announced a collaboration with Roomvu Technologies Inc. (“Roomvu”), a leading real estate marketing platform used by over 220,000 real estate agents, to leverage SalesCloser in enhancing lead follow-up and boosting sales conversions. Collaborations like these are an excellent example of how a partner can provide us with greater and more efficient access to a potential customer base. Furthermore, we are seeing a steady increase in bookings for SalesCloser demos each day. As we broaden the platform’s rollout, we anticipate that SalesCloser will be a key contributor in driving new growth to our business in 2025.”

Adrian Lim, Wishpond’s Chief Financial Officer commented, “Despite a decline in quarterly revenue, Wishpond was able to achieve very strong margins and cash flows in Q3-2024. Wishpond’s revenue decline in Q3-2024 was attributable to the transition of its sales team driven by cost optimization efforts and the integration of SalesCloser into its sales processes. In the long term, we anticipate using SalesCloser to grow the Company’s own internal sales capacity, reduce hiring costs, and further increase margins and profitability. In addition, revenue was negatively impacted due to a decrease in spending from Wishpond’s legacy customer for email delivery services. While this customer contributed to Wishpond’s revenue, these sales were not as profitable compared to the newer business generated through our Propel IQ platform (“Propel IQ”). As a result, this offset of less profitable revenue enabled Wishpond to achieve its most profitable quarter in two years, growing Adjusted EBITDA margin to 11% and improving the Company’s gross margin to 69%. Looking ahead, we expect our gross margins to continue trending upwards as adoption of Propel IQ grows, and we begin ramping up sales of our new SalesCloser solution.”

Third Quarter 2024 Financial Highlights:

Wishpond achieved quarterly revenue of $5,055,738 during Q3-2024 (Q3-2023: $5,763,847).Revenue was impacted by a decline in revenue from the Company’s legacy customer of email delivery services which reduced its spending from $338,359 in Q3-2023 to $48,969 in Q3-2024.Wishpond achieved a gross profit of $3,490,107 in Q3-2024 (Q3-2023: $3,825,821).Wishpond achieved a gross margin percentage of 69% during Q3-2024 (Q3-2023: 66%).During Q3-2024, Wishpond achieved positive Adjusted EBITDA(1) of $571,228 (Q3-2023: $319,001), representing an Adjusted EBITDA margin of 11%, and an increase of 79% from Q3-2023.As at September 30, 2024, Wishpond had $1,084,978 in cash and had drawn down $1,300,535 from its credit facility (December 31, 2023: cash of $1,424,585 and $994,658 credit facility balance outstanding). The reduction in net cash was caused in part by earnout payments for businesses acquired in 2022, investment in SalesCloser marketing activities, and changes in working capital.

Third Quarter 2024 Business Highlights:

On July 8, 2024, the Company announced the appointment of Adrian Lim as Chief Financial Officer (CFO). Mr. Lim has responsibility for all finance, accounting, financial reporting, audit, tax and capital planning functions.On July 10, 2024, the Company announced that the renewal of its Notice of an Intention it filed to make a Normal Course Issuer Bid (“NCIB”) was approved by the TSX Venture Exchange. Under the renewed NCIB, the Company may, during the 12-month period commencing July 15, 2024, and ending July 14, 2025, purchase up to 2,707,931 Shares in total, being 5% of the total number of 54,158,620 Shares outstanding as at June 26, 2024.On August 1, 2024, the Company successfully renewed its credit facility with a major Canadian bank. The renewed credit facility maintains the secured revolving operating line with a borrowing capacity of up to $6,000,000.On August 8, 2024, the Company announced the launch of a new rewards distribution program through its Viral Loops product platform. The new program launched with successful integrations with the Stripe App Marketplace, Tremendous, and Sendoso allowing Viral Loops customers to use their referral rewards on any of these platforms, which the Company believes will increase Average Order Value(1) and Customer Lifetime Value(1). The program is expected to drive increased customer engagement and strengthen Wishpond’s overall market position and capabilities in the referral marketing space.On August 19, 2024, the Company 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.

Business Highlights Subsequent to September 30, 2024:

On October 23, 2024, the Company entered into a collaboration agreement with Roomvu, a leading real estate marketing platform used by over 220,000 real estate agents, to utilize SalesCloser to enhance lead follow-up and sales conversion for Roomvu. This collaboration is anticipated to empower real estate agents to significantly improve the efficiency of managing leads, with aims to ultimately drive sales higher at the same time as improving the client experience.

Outlook:

For 2025, Wishpond’s focus is on profitable growth. The Company expects to improve upon the Adjusted EBITDA levels achieved in 2024. The Company is also expanding the utilization of its SalesCloser virtual sales agent in its sales processes in order to drive new sales of Wishpond products. SalesCloser will be used to help grow Wishpond’s own internal sales capacity, reduce hiring costs, and further increase margins and profitability. In addition to using SalesCloser to sell Wispond’s own products, the Company is also ramping up its SalesCloser revenue generated from external customers.

Management is pleased to introduce the Company’s key goals for 2025:

Accelerate organic revenue growth and increase Monthly Recurring Revenue (MRR)(1).Achieve positive Adjusted EBITDA in each quarter in 2025.Increase utilization of SalesCloser in internal sales processes to drive sales of Wishpond’s own products.Accelerate revenue growth of SalesCloser to external customers.Improve margins, decrease churn and increase long-term customer value.

Webinar Conference Call Details:

As previously announced, Wishpond will be hosting a webinar conference call to discuss its Q3-2024 financial results today at 10:00 AM (PT) / 1:00 PM (ET).

To register for the webinar, please visit the following URL: https://bit.ly/wp_q3

Date:                           November 20, 2024
Time:                           10:00 AM PT (1:00 PM ET)
Dial-in:                        +1 778 907 2071 (Vancouver local)
                                   +1 647 374 4685 (Toronto local)
Meeting ID #:              886 0009 0567

Please connect 5 minutes prior to the conference call to ensure time for any software download that may be required.

Selected Financial Highlights: 

The tables below set out selected financial information relating to Wishpond and should be read in conjunction with Wishpond’s Interim Financial Statements and MD&A.

Reconciliation to Adjusted EBITDA

On Behalf of the Board of Wishpond
“Ali Tajskandar”
Chairman and Chief Executive Officer

About Wishpond Technologies Ltd.       

Based out of Vancouver, British Columbia, Wishpond is a provider of marketing-focused online business solutions. Wishpond is a leading provider of digital marketing solutions that empower entrepreneurs to achieve success online. 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. Wishpond replaces disparate marketing solutions with an easy-to-use product, for a fraction of the cost. Wishpond serves over 4,000 customers who are primarily small and medium-sized businesses (SMBs) in a wide variety of industries. 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. The Company employs a Software-as-a-Service (SaaS) business model where most of the Company’s revenue is subscription-based recurring revenue which provides excellent revenue predictability and cash flow visibility. Wishpond is listed on the TSX Venture Exchange 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 is only a summary and does not purport to be a full representation of all figures, notes and discussions provided for in the Interim Financial Statements and MD&A. Readers are cautioned to read the entirety of the Interim Financial Statements and MD&A, and not to rely only on the information presented in this press release. In the event of conflict between the information in this press release on the one hand, and the Interim Financial Statements and MD&A on the other hand, the information in the Interim Financial Statements and 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, MRR, Annualized Revenue Run-Rate, Average Order Value, Customer Churn Rate, LTV, gross profit, and gross margin. 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. Except as otherwise indicated, these Non-GAAP Financial Measures are calculated and disclosed on a consistent basis from period to period. Specific items may only be relevant in certain periods. See the disclosure under the heading “Additional GAAP and Non-GAAP Measures” in Wishpond’s MD&A for a discussion of Non-GAAP Financial Measures and certain reconciliations to GAAP financial measures. The intent of Non-GAAP Financial Measures is to provide additional useful information to investors and analysts, and the measures do not have any standardized meaning under IFRS. The measures should not, therefore, 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 GAAP 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, 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.Average Order Value: The Company defines Average Order Value, or AOV, as the aggregate dollar amount of all customer orders over a period of time divided by the aggregate number of orders during that same period. Management believes AOV to be a useful financial measure because it helps to track the impact of sales initiatives and product offerings on customer spending patternsMonthly Recurring Revenue: The Company uses Monthly Recurring Revenue, or MRR, as a directional indicator of subscription revenue going forward assuming customers maintain their subscription plan the following month. MRR is the total of all monthly subscription plan fees paid by customers in effect on the last day of that period. If customers pay for more than one month upfront, the amount is divided by the number of months in the subscription period. Discounts are deducted prior to the calculation and one-time payments and metered based charges are excluded.Annualized Revenue Run-Rate: The Company uses Annualized Revenue Run-Rate as an indicator of financial performance that takes the current revenue in the quarter and converts it to an annual figure to get the full-year equivalent.Customer churn rate: The Company defines Customer Churn Rate as the percentage of customers who have canceled their subscriptions over time. Management believes Customer Churn Rate  to be a useful financial measure because it provides further insight as to what products have the ability to generate continuous customer engagement and revenue.Customer Lifetime Value: The Company defines Customer Lifetime Value, or LTV, as the average revenue that a customer generates before they churn. Management believes LTV is useful as a forward looking estimate of the average revenue that a customer will generate throughout its lifespan as a customer with Wishpond.

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, references to expected results from future operations, future growth of the Company’s products and platforms, the future development and increased use of products incorporating artificial intelligence, including SalesCloser, improvement in the Company’s cash position and increased revenue generation, references to the growth of the Company’s product portfolio and future profitability, including whether additional products or features may be developed in the future, and the functionality and timing of such products, financial results or operational activities that may be undertaken by the Company, the results of the Company’s cost-savings, research and development and other initiatives, any future acquisitions or other activities done to grow the Company both organically or inorganically, expectations, beliefs, plans, future operations, the impact of broader economic factors including inflation and other general economic risks on the Company, business and acquisition strategies, opportunities, objectives, prospects, assumptions, including those related to trends and prospects, and future events and performance. 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, including, but not limited to, risks associated with changes to Propel IQ and SalesCloser’s revenue and profitability, changes to customer preferences, competition, use cases for Propel IQ and SalesCloser, economic uncertainty and instability as a result of the ongoing inflation and supply chain issues, higher interest rate climate, tightening of credit availability and recessionary risks, pandemic related risks, wars, 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.

Appcast Xtend enables employers to maximize the effectiveness of their recruiting budget while improving the candidate experience

LEBANON, N.H., Nov. 20, 2024 /PRNewswire-PRWeb/ — Appcast, the leading recruitment marketing platform powered by programmatic, today announced the launch of Appcast Xtend, a new offering designed to empower employers to tackle candidate drop-off, enhance the candidate experience and drive more hires.

Appcast Xtend is one of the many innovative solutions that has emerged from Appcast Labs, Appcast’s internal incubator with a mission of building the next generation of recruitment technology for employers.

“Appcast Xtend is the solution to a significant problem that most employers face, which is: on average, 95% of visitors to an employer’s career site or applicant tracking system abandon the process and don’t apply to an open role,” said Tom Chevalier, general manager of Appcast Labs. “I’m extremely proud of the team for building a solution that leverages the effectiveness of remarketing to engage more of the qualified career site and ATS visitors who would ordinarily disappear without a trace.”

Appcast Xtend creates better job seeker experiences within an employer’s existing HR tech stack. By employing a novel and easy-to-deploy “overlay” approach, Xtend’s experiences can:

Anticipate abandonment – Invites job seekers to engage as they’re about to leave the site and then promotes relevant job opportunities through a multi-channel remarketing approach, including email, SMS, and search and social media advertising.Recommend similar jobs – Helps job seekers discover positions with optimal commutes, flexible shift options, or similar roles that might be a better fit.Promote the employer’s brand – Timely and relevant distribution of employer brand content, such as videos, at the optimal moment when potential candidates are considering an employer’s job opportunities.Pre-qualify and expand the talent pool – Efficiently identifying the right candidates for the hardest-to-fill roles.Boost hiring event RSVPs – Real-time promotion to visitors in the employer’s ATS to maximize hiring event success.

“The results we’ve seen from our beta release have exceeded all expectations with some employers seeing a 20% lift in applications,” said Chevalier. “Customers love that it’s so simple – no work on their part, reduces burden on recruiter time and squeezes more results from the budget they’re already investing in recruitment advertising. And since it works with the employer’s existing career site and ATS, employers we’ve talked to about it say Xtend is a ‘no brainer.'”

“Within three months, DICK’S Sporting Goods has gained over 7,500 applications utilizing Appcast Xtend, worth over $60,000 in value,” said Rebecca Pulaski, recruitment marketing and operations manager at DICK’s Sporting Goods. “Implementing Xtend has allowed us to diversify our advertising sources to attract candidates in unique ways, while still producing completed applications in our ATS.”

Appcast Xtend is now available for general release and complements Appcast’s existing suite of solutions: AppcastOne, a candidate acquisition platform that harnesses the power of programmatic, search, social and traditional media into a single omni-channel enterprise solution, and Appcast Brand & Creative, a full suite of professional services from employer brand and strategy development to award-winning, cross-channel creatives.

For more information, visit: https://www.appcast.io/appcast-xtend

About Appcast
Appcast is the leading recruitment marketing platform powered by programmatic. With advanced technology, unmatched market data and a team of the industry’s best recruitment marketers, Appcast’s technology and services drive hiring outcomes for more than one thousand clients. Appcast is headquartered in Lebanon, N.H. with offices throughout North America and Europe. Appcast is a subsidiary of The Stepstone Group, a leading digital recruitment platform that connects companies with the right talent and helps people find the right job. To learn more, visit http://www.appcast.io.

Media Contact

Alexa Kalechofsky, Gabriel Marketing Group (for Appcast), 9784607013, alexak@gabrielmarketing.com

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SOURCE Appcast