WM Technology, Inc. reports developments tied to its Weedmaps cannabis marketplace and its eCommerce and compliance software for cannabis retailers, brands, and businesses in U.S. state-legal markets. News commonly covers quarterly and annual results, client spending trends, operating discipline, cash flow, and the effect of cannabis-market conditions on marketplace demand.
Company updates also include governance changes, board appointments, executive employment arrangements, and corporate-status actions involving its Class A common stock and warrants, including Nasdaq delisting activity. Product-related coverage centers on consumer discovery, dispensary deals, order-ahead tools, and software designed for regulated cannabis commerce.
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.
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.