Welcome to our dedicated page for Wm Technology news (Ticker: MAPS), a resource for investors and traders seeking the latest updates and insights on Wm Technology stock.
WM Technology, Inc. (Nasdaq: MAPS) is a marketplace and technology solutions provider to the cannabis industry, and its news flow reflects both its role in this sector and its status as a publicly traded software publisher. The company operates Weedmaps, which it describes as a leading cannabis marketplace for consumers, and offers eCommerce and compliance software tools for cannabis businesses and brands in U.S. state-legal markets.
News updates for WM Technology commonly include quarterly and annual financial results, where the company reports revenue, net income, Adjusted EBITDA, cash balances, and key operating metrics such as average monthly paying clients and average monthly revenues per paying client. Management commentary in these releases often discusses operating conditions in core and emerging cannabis markets, client marketing budgets, and the company’s focus on cost discipline and profitability.
Investors and followers of MAPS can also expect news about webcasts and conference calls for earnings announcements, as WM Technology regularly schedules and archives earnings webcasts. Additional news items may cover corporate governance developments, such as board of directors changes, annual meeting voting results, and any indications of interest or proposals related to potential transactions, as documented in company communications.
Because WM Technology positions itself as an advocate for full U.S. cannabis legalization, social equity, and cannabis education, its news may also highlight advocacy-related initiatives and partnerships. For those tracking the cannabis technology space, the MAPS news page offers a centralized view of WM Technology’s financial disclosures, strategic commentary, and corporate updates, and can be revisited to follow how the company responds to ongoing industry challenges and opportunities.
WM Technology, Inc. (NASDAQ: MAPS) announced its participation in key investor conferences including the Benzinga Cannabis Capital Conference and Piper Sandler Growth Frontiers Conference on September 13-14, 2022. CEO Chris Beals will keynote at the Benzinga event in Chicago, while CFO Arden Lee will engage in a discussion at the Piper Sandler event in Nashville. These gatherings aim to enhance investor relations and showcase the company's pivotal role in the cannabis marketplace. For more updates, visit the WM Technology Investor Relations website.
WM Technology (Nasdaq: MAPS) has launched Weedmaps for Business, a revamped suite of SaaS solutions aimed at cannabis retailers and brands. This rebranding reflects a comprehensive platform that integrates tools to help businesses manage operations, marketing, and customer engagement. The new offerings include services for managing inventory, customer relationships, and performance analytics. Notably, the integration of recent acquisitions enhances their ability to support cannabis businesses at every stage of the consumer funnel.
WM Technology reported strong second quarter results with revenue increasing to $58.3 million, a 24% year-over-year growth. The number of Average Monthly Paying Clients rose to 5,537, a 31% increase. Despite this, the Average Monthly Revenue per Paying Client fell by 5% to $3,509. The company achieved a gross profit of $54.4 million, reflecting a 93% margin rate. Looking ahead, guidance suggests total revenue may be flat to down in the mid-single digits for the second half of 2022. Adjusted EBITDA is expected to be positive for the full year.
WM Technology, Inc. (NASDAQ: MAPS) will release its Q2 financial results for the quarter ending June 30, 2022, after market close on August 9, 2022. A conference call will take place at 2:00 p.m. PT (5:00 p.m. ET) on the same day to discuss the results, with a replay available by August 10. WM Technology operates the Weedmaps marketplace, providing eCommerce and compliance software for the cannabis industry, aiming to promote a transparent global cannabis economy.
WM Technology, Inc. (Nasdaq: MAPS) announces its inclusion in the Russell 3000®, Russell 2000®, and Russell Microcap® Indexes, effective June 27, 2022. This milestone follows its 2021 Nasdaq listing, enhancing accessibility for investors and expanding its shareholder base. The Russell Indexes reconstitution captures the largest 4,000 US stocks, ranked by market capitalization, ensuring MAPS benefits from increased visibility and potential investment opportunities.
Cann and Weedmaps are launching a Pride campaign featuring an original song and music video titled “Taste So Good,” aimed at celebrating the LGBTQ+ community. The campaign enlists diverse celebrities such as
WM Technology, Inc. (Nasdaq: MAPS), a leading marketplace for the cannabis industry, announced its participation in upcoming investor conferences. Jefferies 2022 Cannabis Summit will take place on June 2, 2022, followed by the Stifel 2022 Cross Sector Insight Conference on June 9, 2022, where management will host a fireside chat. Presentations will be available via webcast on the company's Investor Relations website. Founded in 2008, WM Technology operates the Weedmaps platform, addressing consumer needs and compliance in the cannabis market.
WM Technology (NASDAQ: MAPS) has expanded its product offerings in Ontario, implementing a digital payment process that allows cannabis retailers to accept in-app payments through Visa and MasterCard. This move aims to help small businesses meet rising demands for delivery and cashless transactions. As Ontario legalizes permanent delivery services, WM Technology's commitment to technology solutions is highlighted as a key growth strategy. The company also plans to expand its services to other Canadian provinces, enhancing retailers' capabilities through its WM Store and WM Orders platforms.
WM Technology reported a significant 40% year-over-year revenue growth in Q1 2022, reaching $57.5 million. The increase in monthly active users (MAUs) was notable at 16.4 million, a 52% rise compared to last year. Average monthly revenue per paying client grew by 9%, with an increase of 28% in average monthly paying clients. However, the company faced a net loss of $(31.2) million compared to a profit of $7.7 million in the previous year. For Q2 2022, revenue guidance is set between $60 million and $63 million, indicating 28-34% growth.
WM Technology (NASDAQ: MAPS) will report its Q1 2022 financial results on May 4, 2022, after market close. A conference call is scheduled for 2:00 PM PT (5:00 PM ET) to discuss these results. WM Technology is a leader in the cannabis technology sector, operating the Weedmaps online marketplace and offering eCommerce solutions to cannabis retailers and brands. The Company aims to create a transparent cannabis economy and has been a significant player in providing compliance software since its founding in 2008.