Wm Technology Inc - MAPS STOCK NEWS

WM Technology (MAPS) reported Q4 2024 revenue of $47.7 million, up from $46.5 million year-over-year, and full-year 2024 revenue of $184.5 million. The company achieved its ninth consecutive quarter of Adjusted EBITDA profitability, with Q4 Adjusted EBITDA increasing to $11.9 million.

Q4 net income was $3.7 million, improving from a net loss of $11.2 million in the prior year period. The company maintained strong operational metrics with 5,225 average monthly paying clients and average monthly revenue per paying client of $3,041.

For full-year 2024, despite industry challenges including client marketing budget constraints and industry consolidation, WM Technology achieved net income of $12.2 million, compared to a net loss of $15.7 million in 2023. Cash position strengthened to $52.0 million by year-end 2024. The company projects Q1 2025 revenue of approximately $43 million with Adjusted EBITDA around $7 million.

WM Technology (Nasdaq: MAPS), a leading cannabis marketplace and technology solutions provider, has scheduled its fourth quarter and full year 2024 financial results announcement for Thursday, March 13, 2025, after market close. The company will host a webcast at 2 p.m. Pacific Time (5 p.m. Eastern Time) to discuss the results.

Founded in 2008, WM Technology operates Weedmaps, a premier cannabis marketplace platform that enables consumers to discover products, access dispensary deals, and order for pick-up and delivery. The company provides eCommerce and compliance software solutions for cannabis businesses and brands, supporting industry compliance needs and business efficiency.

WM Technology (Nasdaq: MAPS) has appointed Sarah Griffis as its new Chief Technology Officer, effective January 6, 2025. Griffis brings experience from regulated industries, having previously served as CTO at Cerebral, a digital healthcare company, and held engineering leadership positions at GoodRx and Kindbody.

CEO Doug Francis expressed enthusiasm about Griffis joining the cannabis marketplace and technology solutions provider, highlighting her experience in building engineering teams and operating in regulated industries. Griffis, a Caltech graduate in Environmental Science Engineering, stated her commitment to improving the company's product and creating greater efficiencies for customers and clients.

WM Technology (MAPS) has received a non-binding proposal from co-founders Douglas Francis (CEO and Chairman) and Justin Hartfield to acquire all outstanding common stock not already owned by them at $1.70 per share. The co-founders currently own approximately 32% of the company's outstanding shares.

The Board has formed a special committee of independent directors to evaluate the take-private proposal. The committee has retained Evercore Group L.L.C. as financial advisor and Allen Overy Shearman Sterling US LLP as legal advisor. The company emphasizes that there's no guarantee of a definitive agreement or transaction completion.

WM Technology (MAPS) reported strong Q3 2024 financial results with net income increasing 312% year-over-year to $5.3 million. Net revenues reached $46.6 million, slightly up from $45.9 million in Q2 but down from $46.7 million year-over-year. The company maintained profitability with Adjusted EBITDA of $11.3 million, marking its eighth consecutive quarter of positive adjusted EBITDA. Cash position strengthened to $45.0 million, up 31% from year-end. The company projects Q4 2024 revenues of approximately $46 million and Adjusted EBITDA of $7 million.

WM Technology (Nasdaq: MAPS) has scheduled its Third Quarter 2024 Financial Results announcement for Tuesday, November 12, 2024, after market close. The company will host a webcast at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. WM Technology operates Weedmaps, a leading cannabis marketplace for consumers, and provides eCommerce and compliance software solutions for cannabis businesses. The webcast replay will be available on ir.weedmaps.com starting November 13.

WM Technology (Nasdaq: MAPS), the company behind Weedmaps, has appointed Glen Ibbott to its Board of Directors, effective October 1. Ibbott, an experienced leader in the cannabis industry, brings over 25 years of expertise to the role. He is the founder of GK Financial Ventures and previously served as CFO of Aurora Cannabis Inc. for nearly seven years.

Doug Francis, Executive Chair of WM Technology, expressed excitement about Ibbott's appointment, citing his valuable insights for the company's growth and mission. Ibbott's background includes CFO positions at biotechnology company QLT Inc. and other publicly traded companies in Canada. He holds MBAs from Cornell University and Queen's University, a degree in Business Administration from Simon Fraser University, and is a Canadian Chartered Professional Accountant.

WM Technology (Nasdaq: MAPS) reported its Q2 2024 financial results, showing a 5% year-over-year decline in net revenues to $45.9 million. The company achieved net income of $1.2 million and Adjusted EBITDA of $10.1 million. Despite industry challenges, WM Technology's cash position improved to $41.3 million as of June 30, 2024. The company's average monthly paying clients decreased to 5,045, while the average monthly net revenues per paying client increased to $3,033. For Q3 2024, WM Technology projects net revenues of approximately $44 million and Adjusted EBITDA of about $7 million.

WM Technology, Inc. (Nasdaq: MAPS), a leading cannabis marketplace and technology solutions provider, has announced it will report its second quarter 2024 financial results on Thursday, August 8, 2024, after market close. The company will host a webcast to discuss the results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day. A replay will be available on the company's investor relations website by August 9.

WM Technology operates Weedmaps, a premier cannabis marketplace for consumers, and provides eCommerce and compliance software solutions for cannabis businesses. The company, founded in 2008, is committed to advocating for full U.S. cannabis legalization, industry-wide social equity, and cannabis education.