WM TECHNOLOGY (MAPS) SEC Filings

WM Technology, Inc. reported third-quarter 2026 revenue of $38.5 million, compared with $42.2 million a year earlier. Net loss was $5.9 million, versus net income of $3.6 million, and Adjusted EBITDA was $0.8 million, compared with $7.6 million. Average monthly paying clients were 4,899 versus 5,221, while average monthly revenues per paying client were $2,618 versus $2,693.

Management attributed revenue pressure primarily to client payment difficulties and lower spending in core markets, and said it increased collection efforts and stepped up efforts to terminate late-paying clients. Cash and cash equivalents were $51.0 million as of September 30, 2026, compared with $62.4 million as of December 31, 2025; nine-month operating cash flow was $1.057 million versus $23.142 million a year earlier. WM Technology expects fourth-quarter revenue to decline by a low-single digit percentage compared with the third quarter. The company said its Nasdaq delisting and planned deregistration as an SEC reporting company are expected to reduce administrative overhead and compliance costs.

WM Technology, Inc. (MAPS), through subsidiary Ghost Management Group, LLC, terminated its lease for approximately 113,692 rentable square feet at 767 S. Alameda Street in Los Angeles effective October 7, 2026, after the landlord confirmed that the third-party lease condition was satisfied. The lease had been scheduled to expire in February 2031. The subsidiary agreed to pay Alameda Square Owner LLC a $32.4 million termination fee in 53 monthly installments beginning October 2026.

The subsidiary also signed a lease for approximately 26,223 rentable square feet in Austin, Texas, on October 9, 2026. The term is expected to commence on the later of February 1, 2027, and the landlord’s delivery of possession, and will run for 114 full calendar months. Estimated base rent over the term is approximately $14.3 million, in addition to the subsidiary’s share of operating costs, taxes and insurance. The landlord will provide up to approximately $1.7 million for tenant improvements. Within 10 days of signing, the subsidiary must provide an approximately $0.8 million irrevocable standby letter of credit or, in certain circumstances, a cash security deposit; the amount is subject to reduction under the lease.

WM TECHNOLOGY, INC. (MAPS) reported that Chief Executive Officer and director Douglas Francis had 142,393 shares of Class A common stock withheld on August 17, 2026 to satisfy tax withholding obligations upon vesting of restricted stock units, at a reference price of $0.402 per share. Following this tax-withholding disposition, Francis directly holds 8,232,623 shares of Class A common stock.

The filing also reports holdings of the company's Class V common stock, which carry voting rights but no economic rights. Francis directly holds 3,740,393 Class V shares, and has indirect beneficial ownership of 8,691,425 Class V shares held through the Rebecca Francis Legacy Trust and entities he controls, including Ghost Media Group, LLC, WM Founders Legacy I, LLC, and Genco Incentives, LLC. Each Class V share is paired with a corresponding Post-Merger Class A Unit of WM Holding Company, LLC, which together are exchangeable on a one-for-one basis into Class A common stock, with exchange rights that do not expire.

WM TECHNOLOGY, INC. (MAPS) reported that Chief Technology Officer Sarah Griffis had 59,025 shares of Class A Common Stock withheld on 2026-08-17 to satisfy tax withholding obligations upon vesting of restricted stock units. The shares were valued at $0.4020 per share, and she now directly holds 1,410,918 shares of Class A Common Stock.

WM TECHNOLOGY, INC. (MAPS) reported that General Counsel Brian Camire had 82,912 shares of Class A Common Stock withheld on 2026-08-17 to satisfy tax withholding obligations arising from the vesting of restricted stock units. The shares were valued at $0.4020 per share. After this transaction, Camire directly holds 1,575,831 shares of Class A Common Stock.

WM Technology, Inc., operator of the Weedmaps cannabis marketplace and SaaS tools, reported Q2 2026 revenues of $42,446 (in thousands) and first-half revenues of $86,004 (in thousands), slightly lower than the prior-year periods. Q2 operating income was $2,352 (in thousands), and net income attributable to the company was $2,023 (in thousands), or basic and diluted EPS of $0.02.

As of June 30, 2026, cash and cash equivalents were $60,499 (in thousands) and total assets $190,571 (in thousands), with total liabilities reduced to $51,745 (in thousands) after paying a $2,659 (in thousands) tax receivable agreement obligation and the expiration of all outstanding warrants. The allowance for credit losses rose to $8,399 (in thousands), driven by aging receivables and pressure on cannabis customers, particularly in California, which generated about 62% of revenues. A securities class action alleging misstatements about monthly active users is in settlement for $7,500,000, subject to final court approval; the company has accrued about $2.4 million, with the remainder expected from insurers, and has separately agreed to governance reforms to resolve related derivative suits.

WM Technology, Inc. reported second-quarter 2026 revenue of $42.4 million, down from $44.8 million a year earlier, as customers faced margin pressure and cash-flow constraints. Consolidated net income rose to $2.9 million from $2.2 million, and adjusted EBITDA was $5.0 million, down from $11.7 million. Basic and diluted Class A EPS were $0.02, compared with $0.01 in the prior-year quarter.

Average monthly paying clients were 5,040, down from 5,241, and average monthly revenue per paying client slipped to $2,807 from $2,852, reflecting churn and lower spend in established markets. Cash stood at $60.5 million and total shares outstanding across Class A and Class V common stock were 159.7 million as of June 30, 2026. Management expects third-quarter 2026 revenue to decline by mid-single digit percentages sequentially from the second quarter and continues to highlight EBITDA and adjusted EBITDA as key non-GAAP performance measures.

WM Technology, Inc. reported results of its 2026 Annual Meeting of Stockholders, reconvened on July 16, 2026. As of the April 27, 2026 record date, 159,228,945 common shares were outstanding; 133,406,607 shares, about 84%, were represented. Stockholders did not approve an amendment to declassify the board of directors, with 84,306,299 votes for and 8,938,023 against. They approved, on a non-binding advisory basis, 2025 compensation for named executive officers and ratified Macias Gini & O’Connell LLP as independent registered public accounting firm with 110,850,271 votes for. Three Class II directors—Brent Cox, Harry DeMott, and Brenda Freeman—were elected to terms running until the 2029 annual meeting.

WM Technology, Inc. director Brenda Freeman received an award of 180,000 restricted stock units, each representing one share of Class A common stock, vesting on the earlier of one year from grant or the next annual stockholders meeting, subject to continuous service. On July 17, 2026, she sold 62,501 shares at a weighted-average price of about $0.367 per share under a Rule 10b5-1 trading plan to cover tax withholding obligations and related commissions arising from RSU vesting.