Wm Technology Inc Stock Price, News & Analysis

WM Technology, Inc. (NASDAQ: MAPS) announced that it filed a Form S-1 with the SEC on December 2, 2021, to register for resale shares of Class A common stock. This follows the company's acquisition of assets from MembersRSVP, LLC, and Text Ripple, Inc., issuing 1,938,798 shares as part of the transaction. The first quarterly exchange period for unit holders to convert their units into Class A common stock will commence following the announcement of Q4 FY21 earnings, which has not yet been scheduled. The company will not receive proceeds from the sales by selling securityholders.

WM Technology, Inc. (NASDAQ: MAPS), a leading provider of technology and software for the cannabis industry, announced its participation in two upcoming conferences: the Cowen 4th Annual Cannabis Conference on December 1, 2021, and the UBS Global TMT Virtual Conference on December 7, 2021. CEO Chris Beals will represent the company at both events. The presentations will be accessible via the company's Investor Relations website, which reflects their commitment to transparency and engagement with institutional investors.

WM Technology (Nasdaq: MAPS) has released its inaugural report, ‘Cannabis in America’, highlighting the mainstream acceptance of cannabis and evolving consumer behaviors. Key insights reveal a 125% year-over-year growth in cannabis delivery among Generation Z and a 55% increase in orders in H1 2021 compared to H1 2020. The report emphasizes the importance of social equity, with 46% of consumers preferring to support women-owned businesses. Moreover, 72% of cannabis users say the stigma surrounding usage is diminishing as the industry matures.

WM Technology reported third-quarter revenue of $50.9 million, a 46% increase year-over-year from U.S. operations. The overall revenue growth stood at 9% compared to the same quarter in 2020, with a gross profit margin of 96%.

Notable metrics include 13.9 million monthly active users, a 37% increase from last year, and an adjusted EBITDA of $10.4 million. The company has completed acquisitions to bolster its position, aiming for continued growth in 2022. Fourth-quarter revenue guidance estimates between $50 million and $52 million.

WM Technology, Inc. (Nasdaq: MAPS) will announce its third-quarter financial results for the period ending September 30, 2021, on November 11, 2021. The results will be made public after market close, followed by a conference call at 2:00 p.m. PT (5:00 p.m. ET). The call will allow management to discuss financial performance and answer questions. Interested parties can access the call via phone or through a webcast on the company’s investor relations website. This announcement highlights WM Technology's ongoing commitment to transparency in its financial reporting.

Black CannaBusiness Magazine has announced Weedmaps as the lead sponsor of the Black CannaConference & Expo, set for November 18-20, 2021, in New Orleans. This event aims to support Black professionals in the cannabis industry, featuring educational and networking opportunities. Kristi Price, CEO of KRMA Media, expressed commitment to enhancing the event's impact after Hurricane Ida. Keynote speaker Wanda James will address racial inequities in cannabis. Proceeds from ticket sales will support the Cannabis Impact Fund to foster economic development in New Orleans.

WM Technology (Nasdaq: MAPS) announced the acquisition of Sprout, a cloud-based CRM and marketing platform, enhancing its software solutions for the cannabis industry. This strategic move aims to integrate Sprout's tools into WM Business, thereby improving client capabilities in customer acquisition and retention. The acquisition strengthens the company's position in a growing legal cannabis market and aligns with its goal to provide all-in-one business solutions.

Weedmaps announces a multi-year partnership with Kevin Durant's Thirty Five Ventures and Boardroom, aiming to reshape cannabis perceptions while promoting its wellness benefits for athletes. This collaboration includes sponsorship of Boardroom's media network and original content production. Both parties emphasize the importance of updating cannabis regulations and fostering an inclusive industry. The initiative is part of Weedmaps' broader aim to educate consumers about cannabis and combat existing stigmas associated with its use.

WM Technology, Inc. (Nasdaq: MAPS) reported a strong second quarter of 2021 with revenue reaching $47 million, a 55% increase year-over-year when adjusted. Monthly active users surged to 12.3 million, marking a 75% rise. The company’s services for cannabis businesses saw notable growth, evidenced by a 24% increase in average monthly revenue per paying client to $3,706. Despite these achievements, the average monthly paying clients dipped by 2%. The company maintains its full-year revenue and adjusted EBITDA guidance of $205 million and $50 million, respectively.