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), 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.
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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.