Wm Technology (MAPS) Stock News

WM Technology (Nasdaq: MAPS), a cannabis industry technology provider, announced that co-founders Douglas Francis and Justin Hartfield have withdrawn their non-binding proposal to take the company private at $1.70 per share. The proposal, originally made on December 17, 2024, was withdrawn due to unspecified external factors.

The co-founders indicated they will continue evaluating transaction possibilities and may submit an alternative proposal. The Special Committee of the Board, supported by Evercore Group L.L.C. and Allen Overy Shearman Sterling US LLP as advisors, remains committed to acting in the best interests of all stockholders.

WM Technology (MAPS) reported its Q1 2025 financial results, marking its tenth consecutive quarter of Adjusted EBITDA profitability. The company achieved revenues of $44.6 million, a slight increase from $44.4 million in the prior year. Net income rose 27% year-over-year to $2.5 million, while Adjusted EBITDA increased to $10.1 million from $9.6 million. The company's average monthly paying clients grew to 5,179 from 4,937, though average monthly revenue per client decreased to $2,871 from $2,997. Cash position strengthened to $53.3 million, up from $35.7 million year-over-year. For Q2 2025, WM Technology projects revenue of approximately $45 million and Adjusted EBITDA of around $8 million.

WM Technology (Nasdaq: MAPS), the operator of Weedmaps and provider of cannabis marketplace and technology solutions, has scheduled its first quarter 2025 financial results announcement for Thursday, May 8, 2025, after market close. The company will host a webcast at 2 p.m. PT (5 p.m. ET) to discuss the results.

Founded in 2008, Weedmaps has evolved into the leading cannabis marketplace for consumers, offering features such as product discovery, dispensary deals, order-ahead capabilities, and educational resources. The company provides eCommerce and compliance software solutions for cannabis businesses and brands, while advocating for U.S. legalization and industry social equity.

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.