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. (Class A Common Stock, symbol: MAPS) is a leading technology and software infrastructure provider in the cannabis industry, primarily operating through its two core platforms, Weedmaps and WM Business. Weedmaps is a comprehensive B2C platform that connects consumers with cannabis dispensaries, delivery services, and doctors' offices across the United States. It serves as an online legal marijuana community where users can review and discuss cannabis strains and local dispensaries, similar to Yelp. The platform boasts a database of over 3,000 medical marijuana dispensaries and 25,000 cannabis strains, attracting approximately four million monthly visitors.
WM Business, on the other hand, caters to B2B clients by offering software solutions and listing services. The company generates revenue through monthly subscriptions to Weedmaps for Business, which are typically renewed automatically unless canceled in advance. Additional revenue streams include featured and deal listings, as well as other ad solutions like banner ads and promotion tiles on the Weedmaps marketplace.
Founded in July 2008 by Justin Hartfield and Doug Francis, WM Technology has grown into an industry leader with annual revenues of $30 million. The company's continued growth is fueled by its robust platform that caters to a wide range of users, from patients to businesses. WM Technology also hosts events that foster connections among medical marijuana patients, further solidifying its role in the industry.
Recent achievements include the expansion of its product offerings and the enhancement of its ad solutions to provide more value to its customers. The company's financial condition remains strong, supported by its diverse revenue streams and continuous growth in user engagement and platform subscriptions.
WM Technology (NASDAQ: MAPS), a leader in cannabis technology solutions, will disclose its first-quarter financial results for the period ending
WM Technology (Nasdaq: MAPS) announced its fourth quarter and full-year financial results, reporting fourth-quarter revenue of $49.3 million, down from $54.2 million in Q4 2021. Full-year revenue rose to $215.5 million from $193.1 million in 2021. Average monthly paying clients increased to 5,689 from 4,766, but average revenue per client declined to $2,888 from $3,789. The company recorded a net loss of $60.8 million in Q4 and $82.7 million for the year, compared to net income in the prior periods. Looking ahead, 2023 Q1 revenue is estimated at $47 million with Non-GAAP Adjusted EBITDA predicted at $4 million.
WM Technology, Inc. (NASDAQ: MAPS) will announce its fourth quarter financial results for the period ending December 31, 2022, on March 16, 2023, after market close. A conference call will follow at 2:00 PM PT (5:00 PM ET) to discuss the results. This session will also be available for replay on the company’s investor relations site after March 17. Founded in 2008, WM Technology is the premier online cannabis marketplace, providing eCommerce solutions and compliance software to cannabis retailers and brands in the U.S. and Canadian markets. The company's mission is to empower a transparent and inclusive cannabis economy.
WM Technology, Inc. (NASDAQ: MAPS) will participate in the 2023 ICR Conference in Orlando, Florida, on January 10, 2023. Chief Financial Officer Arden Lee will lead a fireside chat at 1:30 p.m. EST, with additional opportunities for investors to meet company representatives during Breakout Sessions at 11 a.m. and 2:30 p.m. EST. The event will be available via a live audio webcast on WM Technology's Investor Relations website, with a replay accessible for 90 days. The company, founded in 2008, leads the cannabis marketplace and provides software solutions to cannabis businesses.
WM Technology has appointed Randa McMinn as its new Chief Marketing Officer. McMinn's extensive marketing experience includes leading roles at Reali, where she launched a pricing model that boosted profit margins by 30%, and Ten-X. She aims to enhance the consumer marketplace experience and innovate technology solutions for cannabis retailers and brands. The company, founded in 2008, operates a leading online cannabis marketplace and offers compliance software solutions in the U.S. and Canadian markets, advocating for safe cannabis access.
WM Technology, Inc. (Nasdaq: MAPS) reported its third quarter 2022 results, revealing revenue of $50.5 million, a slight decrease from $50.9 million year-over-year. The company posted a net loss of $10.5 million, compared to a net income of $49.2 million in the prior year's quarter. Average monthly paying clients rose to 5,576, up from 4,444 a year earlier, but average revenue per client fell to $3,019 from $3,817. Additionally, Doug Francis steps in as interim leader following Chris Beals' departure. Fourth quarter revenue is expected to decline in the low double-digit percentage range.
WM Technology, Inc. (NASDAQ: MAPS) will report its financial results for Q3 2022 on November 7, 2022, after market close. A conference call and webcast will take place at 2:00 PM PT to discuss these results. The company operates the leading cannabis marketplace and provides eCommerce software solutions for cannabis businesses. With over 14 years of experience, WM Technology aims to enhance consumer access to cannabis and support business compliance in the U.S. and Canadian markets.
WM Technology, Inc. (NASDAQ: MAPS) announced its participation in key investor conferences including the Benzinga Cannabis Capital Conference and Piper Sandler Growth Frontiers Conference on September 13-14, 2022. CEO Chris Beals will keynote at the Benzinga event in Chicago, while CFO Arden Lee will engage in a discussion at the Piper Sandler event in Nashville. These gatherings aim to enhance investor relations and showcase the company's pivotal role in the cannabis marketplace. For more updates, visit the WM Technology Investor Relations website.
FAQ
What is the current stock price of WM Technology (MAPS)?
What is the market cap of WM Technology (MAPS)?
What does WM Technology, Inc. do?
What is Weedmaps?
How does WM Technology generate revenue?
When was WM Technology founded?
What is WM Business?
How many visitors does Weedmaps attract monthly?
What kind of advertising solutions does WM Technology offer?
What are some key features of Weedmaps?
Is WM Technology considered an industry leader?
What events does WM Technology host?
