Wm Technology Inc Stock Price, News & Analysis

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.

WM Technology, Inc. (NASDAQ: MAPS) has appointed Anthony Bay as the new Chairman of its Board of Directors, effective immediately. He succeeds Chris Beals, who continues as CEO. Bay brings over 20 years of board experience and expertise in scaling technology companies. His leadership is expected to enhance corporate governance and drive growth opportunities in the rapidly expanding cannabis sector, particularly with federal legalization on the horizon. WM Technology aims to leverage Bay's experience for market expansion and increased brand offerings.

WM Technology, Inc. (NASDAQ: MAPS), a leader in the cannabis marketplace and technology solutions, announced its participation in upcoming conferences, including the 34th Annual Roth Conference on March 15, BTIG Global Cannabis Conference on April 6-7, Cantor US Cannabis Conference on April 13, and Benzinga Cannabis Capital Conference on April 21. Presentations will be accessible via webcast. The company aims to advance a transparent cannabis economy through its Weedmaps platform, providing essential tools for retailers and compliance solutions.

WM Technology reported a strong fourth quarter with revenue of $54.2 million, reflecting a 39% increase year-over-year in the U.S. This contributed to a full year revenue of $193.1 million, marking a 48% growth in the U.S. Monthly active users rose to 15.7 million, a 57% increase from the prior year. Although gross profit remained high at $52.0 million (96% margin), adjusted EBITDA was lower at $3.8 million compared to $11.1 million in the previous year. The company projects 2022 revenue between $255 million and $265 million, indicating 32-37% growth.

WM Technology, Inc. (NASDAQ: MAPS) launched a humorous digital ad featuring 'Brock Ollie,' a broccoli character symbolizing cannabis. The ad highlights the marketing restrictions faced by the cannabis industry, particularly during major televised events. CEO Chris Beals emphasized that despite growing acceptance, advertising limitations hinder competition and consumer education. The ad calls for greater dialogue around cannabis, showcasing the industry's struggles as consumers desire more information.

WM Technology, Inc. (NASDAQ: MAPS) will disclose its fourth quarter financial results for 2021 on February 23, 2022, post-market. A conference call is scheduled for 2:00 PM PT to discuss these results. The company, a key player in the cannabis industry, provides technology and software solutions through its Weedmaps platform and WM Business software. With its mission focused on fostering a transparent cannabis economy, WM Technology has been an advocate for legislation and compliance in the industry.