WorthPoint® Reports Optimistic Growth in Q3 Amidst Consumer Headwinds

Company Reports 15% Revenue Growth Year Over Year

ATLANTA, Oct. 27, 2022 /PRNewswire/ -- WorthPoint Corporation, the world's largest online resource for researching, valuing and preserving antiques, art and collectibles, announced today its business results for the third quarter of 2022, ending September 30, posting its 23rd sequential quarter of revenue growth.

The firm saw revenue increase by 15 percent this quarter from Q3 2021, with its customer stickiness being a leading factor. This is despite some slight stagnation in subscriber growth.

"Our customers have proven resilient in the face of inflation, now migrating to longer subscription terms that have better value," said Will Seippel, CEO of WorthPoint. "We are prioritizing differentiating our business strategy for a business-to-business-to-consumer model to refocus on progressing the future of WorthPoint while keeping in mind our audience and their needs."

WorthPoint's investments in technology and innovation in Q3 advanced product developments and overall services. The Vault, a tool for users to track collections over time, will play a large role in the company's strategy to create a more effective and efficient customer journey.

The Q3 rollout of WorthPoint's community tool, Live Lots, allowed users to search active listings of live inventory for sale through its industry partners, fine art, antiques, and collectibles auction houses around the world. The launch has proved a successful partner-building tool, attracting new and prominent partners. In addition, WorthPoint prepared for the publication of the first vertical of its indices in Q4 — coins and currency. These indices will aid investors in measuring and tracking antiques and collectibles for asset portfolios to help legitimize marks.

"WorthPoint's continued data achievements solidify that we are the leading software-as-a-service company in the antique and collectibles market," Seippel said. 

WorthPoint added data from 30 industry partners to its comprehensive databases in Q3, expanding the sources from which the company actively collects pricing information by nearly 300 since 2020. WorthPoint introduced more than 17 million new items to its nationally-recognized Price Guide and supplemented nearly 8,000 items to its M.A.P.S. database. The number of Dictionary pages rapidly grew by approximately 700 articles to a total of 7,800 entries, while the number of reference books in its searchable Library expanded from 11,000 to nearly 14,000 unique volumes.

The company forecasts a strong Q4 to close out the year, with plans to finalize its integrated app—a visual identifier that combines the M.A.P.S. and Price Guide apps with the Live Lots tool to propel forward the user search experience. WorthPoint expects the app to increase its overall visibility and impact, providing benefits across industries for interior designers, architects, appraisers, and more. Q4 will also see a culmination of benefits made possible with last year's credit facility from Espresso Capital.

About WorthPoint Corporation:
WorthPoint manages the largest online resource for researching, valuing and preserving antiques, art and collectibles. The company's suite of offerings on WorthPoint.com includes a Price Guide, a resource gallery of more than 212,000 identifying makers' marks, autographs, patterns and symbols, along with a digital Library with nearly 14,000 books about collectible topics.

Through data aggregated from online marketplaces, including eBay and leading auction houses, WorthPoint empowers the antiques and collectibles industry by providing a steady stream of new data each month, building on more than 670 million archived prices and nearly 1.3 billion images to improve pricing transparency for sellers and buyers. WorthPoint is headquartered in Atlanta, Ga., and has subscribers on six continents.

SOURCE WorthPoint Corporation