WM Technology Inc (MAPS) Quote

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WM Technology, Inc. Reports Second Quarter 2023 Financial Results
August 08 2023 - 04:10PM
Business Wire
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Announces Second Quarter 2023 Financial Results with Revenue of $50.9 million, Net Income of $2.0 million and Adjusted EBITDA of $10.2 million

WM Technology, Inc. (“WM Technology” or the “Company”) (Nasdaq: MAPS), a leading technology and software infrastructure provider to the cannabis industry, today announced its financial results for the second quarter ended June 30, 2023.

“Our second quarter results reflect the positive changes we have made to our business over the past few quarters and our commitment to returning to positive cash flow and Adjusted EBITDA,” said Doug Francis, Executive Chair of WM Technology. “We continue to strengthen our financial position, and we’re seeing the strategic and operational changes we’ve implemented take hold, delivering increased value to our stakeholders which in turn will generate long-term, sustainable growth and profitability for WM Technology. It’s imperative that we continue to develop and deliver valuable products and services for our clients, ensuring Weedmaps is the best destination for consumers to discover and order cannabis through participating retailers. While there is more to do, I am proud of the progress we have made to date.”

Second Quarter 2023 Financial Highlights

Revenue was $50.9 million as compared to $58.3 million in the second quarter of 2022 (“prior year period”).
Average monthly paying clients(1) was 5,609, as compared to 5,537 from the prior year period.
Average monthly revenue per paying client(2) was $3,022, as compared to $3,509 from the prior year period.
Net income was $2.0 million as compared to net income of $19.8 million from the prior year period.
Adjusted EBITDA(3) was $10.2 million as compared to $(0.6) million from the prior year period.
Basic and diluted net income per share were both $0.01 based on 92.9 million and 93.6 million of Class A Common Stock weighted average shares outstanding, respectively.
Total shares outstanding across Class A and Class V Common Stock were 148.9 million as of June 30, 2023.
Cash totaled $24.6 million as of June 30, 2023, with no debt.
Reconciliations of GAAP to non-GAAP financial measures have been provided in the tables included in this release.

______________________________

Average monthly paying clients are defined as the average of the number of paying clients billed in a month across a particular period (and for which services were provided).
Average monthly revenue per paying client is defined as the average monthly revenue for any particular period divided by the average monthly paying clients in the same respective period.
For further information about how we calculate EBITDA and Adjusted EBITDA as well as limitations of their use and a reconciliation of EBITDA and Adjusted EBITDA to net income (loss), see “Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA” below.
Business Outlook

Based on information available as of August 8, 2023, WM Technology is issuing guidance for the third quarter of 2023 as follows:

Revenue is estimated to be $47 million
Non-GAAP Adjusted EBITDA(1) is estimated to be approximately $4 million.
The guidance provided above is only an estimate of what we believe is realizable as of the date of this release. We are not readily able to provide a reconciliation of projected Non-GAAP Adjusted EBITDA to projected net income (loss) without unreasonable effort. This guidance assumes that no business acquisitions, investments, restructurings, or legal settlements are concluded in the period. Our results are based on assumptions that we believe to be reasonable as of this date, but may be materially affected by many factors, as discussed below in “Forward-Looking Statements.” Actual results may vary from the guidance and the variations may be material. We undertake no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.

Independent Registered Accounting Firm

As previously reported, on June 8, 2023, the Company was notified by Baker Tilly US, LLP (“Baker Tilly”), of its decision to resign as the independent registered public accounting firm of the Company due to staffing constraints within Baker Tilly. The resignation is effective immediately following the filing of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023.

On August 2, 2023, the Audit Committee of the Board of Directors of the Company approved the appointment of Moss Adams LLP (“Moss Adams”) as the Company’s new independent registered public accounting firm for the fiscal year ending December 31, 2023. Moss Adams’ engagement is effective immediately following the filing of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023.

Investor Conference Call and Webcasts

The Company will host a conference call and webcast today, Tuesday, August 8, 2023, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) at https://edge.media-server.com/mmc/p/55jhnmgv. A webcast replay will also be archived at ir.weedmaps.com.

The Company has used, and intends to continue to use, the investor relations portion of its website as a means of disclosing material non-public information and for complying with disclosure obligations under Regulation FD.

About WM Technology

Founded in 2008, WM Technology operates the leading online cannabis marketplace for consumers together with a comprehensive set of eCommerce and compliance software solutions for cannabis businesses, which are sold to retailers and brands in the U.S. state-legal and Canadian cannabis markets. The Company is driven by a passion for the plant, and is on a mission to champion the truth and stand with all who believe in open access to cannabis.

The Company’s technology addresses the challenges facing both consumers seeking to understand cannabis products and businesses who serve cannabis users in a legally compliant fashion. Over the past 14 years, the Weedmaps marketplace has become a premier destination for cannabis consumers to discover and browse information regarding cannabis and cannabis products, permitting product discovery and order-ahead for pickup or delivery by participating retailers. Weedmaps for Business is a set of eCommerce-enablement tools designed to help retailers and brands get the best out of the Weedmaps’ consumer experience, create labor efficiencies and manage compliance needs.

WM Technology holds a strong belief in the power of cannabis and the importance of enabling safe, legal access to consumers worldwide. Since inception, WM Technology has worked tirelessly, not only to become the most comprehensive platform for consumers, but to build the software solutions that power businesses compliantly in the space, to advocate for legalization, social equity, and licensing in many jurisdictions, and to facilitate further learning through partnering with subject matter experts on providing detailed, accurate information about the plant.

Headquartered in Irvine, California, WM Technology supports remote work for all eligible employees. Visit us at www.weedmaps.com.

MAPS

https://finviz.com/quote.ashx?t=MAPS&ty=c&ta=1&p=d

MAPS
WM Technology Inc
1.02
-0.11 (-9.73%)
Volume: 313,350
Day Range: 1.04 - 1.15
Last Trade Time: 7:47:48 PM EDT

MAPS...............................https://stockcharts.com/h-sc/ui?s=MAPS&p=W&b=5&g=0&id=p86431144783

MAPS.......https://stockcharts.com/h-sc/ui?s=MAPS&p=W&b=5&g=0&id=p86431144783

looks like $MAPS trying to stay current wit nasdaq , nearing $1.00

did ya know $MAPS was SSPKU debut @ 22.99 plus ?????

SSPKU NOW $MAPS
Silver Spike Acquisition Corporation
22.99
0.00 (0.00%)
Volume:

did ya know $MAPS was SSPKU debut @ 22.99 plus ?????

SSPKU NOW $MAPS
Silver Spike Acquisition Corporation
22.99
0.00 (0.00%)
Volume:

thx.....been awhile........https://stockcharts.com/h-sc/ui?s=MAPS&p=W&b=5&g=0&id=p86431144783

About WM Technology $MAPS
https://ih.advfn.com/stock-market/NASDAQ/wm-technology-MAPS/stock-news/91527501/wm-technology-inc-announces-second-quarter-2023

Founded in 2008,
WM Technology operates the leading online cannabis marketplace for consumers together with
a comprehensive set of eCommerce and compliance software solutions for cannabis businesses,

which are sold to retailers and brands in the U.S. state-legal and Canadian cannabis markets. The

Company is driven by a passion for the plant, and is on a mission to champion the truth and stand with all who believe in open access to cannabis.

The Company’s technology addresses the challenges facing both consumers seeking to understand cannabis products and businesses who serve cannabis users in a legally compliant fashion.

Over the past 14 years, the Weedmaps marketplace has become the premier destination for
cannabis consumers to discover and browse information regarding cannabis and cannabis products,

permitting product discovery and order-ahead for pickup or delivery by participating retailers.

Weedmaps for Business is a set of eCommerce-enablement tools designed to help retailers and brands get the best out of the
Weedmaps’ consumer experience, create labor efficiencies and manage compliance needs.

WM Technology holds a strong belief in the power of cannabis and the importance of enabling safe, legal access to consumers worldwide.

Since inception, WM Technology has worked tirelessly, not only to become the most comprehensive platform for consumers,
but to build the software solutions that power businesses compliantly in the space, to advocate for legalization,
social equity, and licensing in many jurisdictions,
and to facilitate further learning through partnering with subject matter experts on providing detailed, accurate information about the plant.

Headquartered in Irvine, California, WM Technology supports remote work for all eligible employees. Visit us at http://www.weedmaps.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230707824714/en/

Media: Travis Rexroad, Corporate Communications, press@weedmaps.com
Investor Relations: investors@weedmaps.com

July 07 2023 - 09:00AM
Business Wire
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WM Technology, Inc. (“WM Technology” or the “Company”) (Nasdaq: MAPS), the leading marketplace and technology solutions provider to the cannabis industry, today announced it will report financial results for its second quarter ended June 30, 2023 after market close on Tuesday, August 8, 2023. Management will host a conference call and webcast to discuss the Company's financial results at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on the same day. A replay of the Q2 call will be available at ir.weedmaps.com by the end of the day August 9.

WM Technology Second Quarter 2023 Financial Results Conference Call

When


Tuesday, August 8, 2023

Time


2 p.m. PT / 5 p.m. ET

Webcast Link


https://edge.media-server.com/mmc/p/55jhnmgv

chart was ah lot higher $MAPS https://stockcharts.com/c-sc/sc?s=MAPS&p=W&b=5&g=0&i=p86431144783&r=1688936185860

glenn i didn't know dis turned to cannabis company ????? $MAPS any opinion ????? anyone ?????

2 YEARS; $MAPS


[-chart]www.stockscores.com/chart.asp?TickerSymbol=MAPS&TimeRange=950&Interval=d&Volume=1&ChartType=CandleStick&Stockscores=1&ChartWidth=1100&ChartHeight=480&avgType1=&movAvg1=&avgType2=&movAvg2=&candles=redgreen[/chart]

MAPS
WM Technology Inc
0.904
0.0631 (7.50%)
Volume: 415,865
Day Range: 0.8626 - 0.9275
Last Trade Time: 7:55:05 PM EDT

MAPS
WM Technology Inc
0.734
-0.056 (-7.09%)
Volume: 7,531,926
Day Range: 0.71 - 0.8199
Last Trade Time: 7:59:11 PM EDT

MAPS
WM Technology Inc
0.909
0.0198 (2.23%)
Volume: 231,488
Day Range: 0.85 - 0.8999
Last Trade Time: 7:46:56 PM EDT

https://www.otcmarkets.com/stock/MAPS

MAPS
WM Technology Inc
0.704
0.0053 (0.76%)
Volume: 270,967
Day Range: 0.66 - 0.73
Last Trade Time: 7:59:48 PM EDT

MAPS --- down $0.50 from last one
WM Technology Inc
0.69
0.0303 (4.59%)
Volume: 272,784
Day Range: 0.6401 - 0.6871
Last Trade Time: 7:55:21 PM EDT

MAPS
WM Technology Inc
1.09
0.01 (0.93%)
Volume: 146,274
Day Range: 1.04 - 1.09
Last Trade Time: 7:43:42 PM EST

MAPS
WM Technology Inc
1.44
-0.03 (-2.04%)
Volume: 512,907
Day Range: 1.37 - 1.4865
Last Trade Time: 7:20:37 PM EST

i like , $MAPS
re;
MAPS
WM Technology Inc
1.19
0.03 (2.59%)
Volume: 1,736,884
Day Range: 1.165 - 1.27
Bid: 1.14
Ask: 1.26
Last Trade Time: 4:33:10 PM EST
Total Trades: 3,661

MAPS.........................https://stockcharts.com/h-sc/ui?s=MAPS&p=W&b=5&g=0&id=p86431144783

MAPS
WM Technology Inc
1.08
0.0899 (9.08%)
Volume: 2,339,979
Day Range: 0.99 - 1.13
Last Trade Time: 7:41:22 PM EST

http://www.stockta.com/cgi-bin/analysis.pl?symb=maps

https://www.stockscores.com/charts/charts/?ticker=maps

http://www.stockta.com/cgi-bin/analysis.pl?symb=maps

https://www.stockscores.com/charts/charts/?ticker=maps

MAPS
WM Technology Inc
1.85
-0.01 (-0.54%)
Volume: 619,907
Day Range: 1.74 - 1.88
Bid: 1.45
Ask: 2.16
Last Trade Time: 7:54:41 PM EDT
Total Trades: 3,873
MAPS Detailed Quote

$MAPS WM Technology, Inc. provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States, Canada, and internationally. The company offers Weedmaps marketplace that allows cannabis users to search for and browse cannabis products from retailers and brands, and reserve products from local retailers; and information on the cannabis plant, and the industry and advocate related services for legalization. It also provides WM Business suite of monthly subscription-based software solutions, including WM Orders, WM Dispatch, WM Store, WM Dashboard, integrations, and API platform, as well as access to its WM Retail and WM Exchange products. In addition, the company offers advertising solutions; Sprout, a customer relationship management solution; and Cannveya, a delivery and logistics software solution. WM Technology, Inc. was founded in 2008 and is headquartered in Irvine, California.

Weedmaps (NASDAQ: $MAPS ) wins
HOTTEST CANNABIS TECHNOLOGY https://markets.businessinsider.com/news/stocks/benzinga-cannabis-award-winners-announced-at-chicago-conference-check-out-full-list-1031738768

MAPS
WM Technology Inc
2.62
-0.10 (-3.68%)
Volume: 2,359,547
Day Range: 2.57 - 2.73
Bid: 2.53
Ask: 2.66
Last Trade Time: 4:58:48 PM EDT
Total Trades: 6,729
MAPS Detailed Quote

Prospectus Filed Pursuant to Rule 424(b)(3) (424b3) • Edgar (US Regulatory) • 06/27/2022 09:30:55 PM
Prospectus Filed Pursuant to Rule 424(b)(3) (424b3) • Edgar (US Regulatory) • 06/27/2022 09:30:01 PM

MAPS
WM Technology Inc
3.14
-0.01 (-0.32%)
Volume: 850,684
Day Range: 3.11 - 3.2783
Bid: 3.11
Ask: 3.67
Last Trade Time: 7:09:47 PM EDT
Total Trades: 5,071
MAPS Detailed Quote

WM Technology Inc (MAPS)
5.96 ? -0.18 (-2.93%)
Volume: 698,825 @06/03/22 7:21:27 PM EDT
Bid Ask Day's Range
5.8 6.25 5.905 - 6.25
MAPS Detailed Quote

$MAPS News: Cann and Weedmaps “Say Gay” With Diverse Star Studded Campaign Celebrating Queer Joy, Inclusivity and Cannabis 06/01/2022 05:00:00 AM
MAPS News: Statement of Changes in Beneficial Ownership (4) 05/25/2022 01:57:43 PM

$MAPS News: WM Technology, Inc. Announces Participation at Jefferies 2022 Cannabis Summit and Stifel 2022 Cross Sector Insight Conference 05/23/2022 12:30:00 PM

$MAPS News: Statement of Changes in Beneficial Ownership (4) 05/19/2022 02:05:45 PM
MAPS News: Statement of Changes in Beneficial Ownership (4) 05/19/2022 02:02:30 PM

$MAPS /\ was spac /\ SSPKU Silver Spike Acquisition Corp.

WM Technology Inc (MAPS)
5.96 ? -0.18 (-2.93%)
Volume: 698,825 @06/03/22 7:21:27 PM EDT
Bid Ask Day's Range
5.8 6.25 5.905 - 6.25
MAPS Detailed Quote

WM Technology Inc (MAPS)
5.96 ? -0.18 (-2.93%)
Volume: 698,825 @06/03/22 7:21:27 PM EDT
Bid Ask Day's Range
5.8 6.25 5.905 - 6.25
MAPS Detailed Quote

MAPS reminds me of an REIT stock.. slow and steady baby Woooooooo

MAPS!

Whooo hoooo got your MAPS?!

Wheres all the peeps? Got your MAPS?