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.
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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.
WM Technology, Inc. (NASDAQ: MAPS) has announced its participation in the ICR Conference 2022 on January 10 at 2:30 pm EST and the 24th Annual Needham Virtual Growth Conference on January 14 at 1:15 pm EST. During these events, management will present to institutional investors and conduct virtual one-on-one meetings. The company aims to highlight its historical performance and future outlook. Presentations are expected to be available via webcast on the company's Investor Relations website.
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.