WM Technology, Inc. reported first-quarter 2026 results, generating revenue of $43.6 million and net income of $1.7 million. Revenue was slightly lower than the $44.6 million recorded a year earlier as softer conditions in core cannabis markets weighed on client advertising spend.
Average monthly paying clients declined to 4,983 from 5,179, while average monthly revenue per paying client inched up to $2,914 from $2,871, reflecting churn among lower-spending clients. Adjusted EBITDA was $5.9 million, down from $10.1 million in the prior-year period, but the company continued to post positive EBITDA.
WM Technology ended March 31, 2026 with $57.0 million in cash, cash equivalents and marketable securities and 159.0 million total shares outstanding across Class A and Class V common stock. For the second quarter of 2026, management expects revenue to decline by a low-single-digit percentage sequentially from the first quarter.
WM Technology, Inc. reported first-quarter 2026 results, generating revenue of $43.6 million and net income of $1.7 million. Revenue was slightly lower than the $44.6 million recorded a year earlier as softer conditions in core cannabis markets weighed on client advertising spend.
Average monthly paying clients declined to 4,983 from 5,179, while average monthly revenue per paying client inched up to $2,914 from $2,871, reflecting churn among lower-spending clients. Adjusted EBITDA was $5.9 million, down from $10.1 million in the prior-year period, but the company continued to post positive EBITDA.
WM Technology ended March 31, 2026 with $57.0 million in cash, cash equivalents and marketable securities and 159.0 million total shares outstanding across Class A and Class V common stock. For the second quarter of 2026, management expects revenue to decline by a low-single-digit percentage sequentially from the first quarter.
Morgan Stanley files an amendment to a Schedule 13G/A reporting it holds 0.0% of WM Technology, Inc. Class A common stock as of 04/30/2026. The filing lists shared voting power of 26,048 shares and shared dispositive power of 44,966 shares for certain Morgan Stanley reporting units. The signature is dated 05/07/2026.
Morgan Stanley files an amendment to a Schedule 13G/A reporting it holds 0.0% of WM Technology, Inc. Class A common stock as of 04/30/2026. The filing lists shared voting power of 26,048 shares and shared dispositive power of 44,966 shares for certain Morgan Stanley reporting units. The signature is dated 05/07/2026.
WM Technology, Inc. is holding a virtual 2026 annual meeting on June 24, 2026, asking stockholders to declassify its board so all directors stand for annual election, approve executive pay on an advisory basis, ratify MGO as auditor, and elect directors.
The company has voluntarily delisted its common stock and warrants from Nasdaq, with trading moving to the OTCQX Best Market and OTCID Exchange under “MAPS” and “MAPSW,” and it expects to file a Form 15 to deregister and suspend Exchange Act reporting. It discloses ongoing material weaknesses in internal control over financial reporting and recent changes in independent auditors.
WM Technology, Inc. is holding a virtual 2026 annual meeting on June 24, 2026, asking stockholders to declassify its board so all directors stand for annual election, approve executive pay on an advisory basis, ratify MGO as auditor, and elect directors.
The company has voluntarily delisted its common stock and warrants from Nasdaq, with trading moving to the OTCQX Best Market and OTCID Exchange under “MAPS” and “MAPSW,” and it expects to file a Form 15 to deregister and suspend Exchange Act reporting. It discloses ongoing material weaknesses in internal control over financial reporting and recent changes in independent auditors.
BlackRock, Inc. amended a Schedule 13G/A to report beneficial ownership of 5,456,421 shares of WM Technology Inc. Class A stock, representing 4.9% of the class as disclosed. The filing lists sole voting power of 5,378,334 shares and sole dispositive power of 5,456,421 shares. The amendment references Reporting Business Units and attaches Exhibits including a Power of Attorney and Item 7 subsidiary information; the schedule was signed on 04/27/2026.
BlackRock, Inc. amended a Schedule 13G/A to report beneficial ownership of 5,456,421 shares of WM Technology Inc. Class A stock, representing 4.9% of the class as disclosed. The filing lists sole voting power of 5,378,334 shares and sole dispositive power of 5,456,421 shares. The amendment references Reporting Business Units and attaches Exhibits including a Power of Attorney and Item 7 subsidiary information; the schedule was signed on 04/27/2026.
WM Technology, Inc. notifies the SEC of removal of its Class A Common Stock and associated warrants from listing on the Nasdaq Global Select Market by filing a Form 25 on April 17, 2026.
The filing identifies Class A Common Stock (par value $0.0001 per share) and warrants exercisable for one share at an exercise price of $11.50 per share.
WM Technology, Inc. notifies the SEC of removal of its Class A Common Stock and associated warrants from listing on the Nasdaq Global Select Market by filing a Form 25 on April 17, 2026.
The filing identifies Class A Common Stock (par value $0.0001 per share) and warrants exercisable for one share at an exercise price of $11.50 per share.
WM Technology, Inc. plans to voluntarily delist its Class A common stock and warrants from the Nasdaq Global Select Market and deregister these securities under the Exchange Act. The company expects to file a Form 25 on or about April 17, 2026, with Nasdaq trading likely ending on or about April 24, 2026, after which it aims to have its securities quoted on an OTC Markets venue, though ongoing liquidity and market making are not assured.
The company also dismissed Baker Tilly US, LLP as its independent registered public accounting firm and engaged Macias Gini & O’Connell LLP for the 2026 fiscal year. Baker Tilly had issued unqualified opinions on past financial statements but adverse opinions on the effectiveness of internal control over financial reporting due to material weaknesses as of December 31, 2024 and 2025. Director Scott Gordon resigned from the Board and its committees, with the company stating his departure was not due to any disagreement over operations, policies, or practices.
WM Technology, Inc. plans to voluntarily delist its Class A common stock and warrants from the Nasdaq Global Select Market and deregister these securities under the Exchange Act. The company expects to file a Form 25 on or about April 17, 2026, with Nasdaq trading likely ending on or about April 24, 2026, after which it aims to have its securities quoted on an OTC Markets venue, though ongoing liquidity and market making are not assured.
The company also dismissed Baker Tilly US, LLP as its independent registered public accounting firm and engaged Macias Gini & O’Connell LLP for the 2026 fiscal year. Baker Tilly had issued unqualified opinions on past financial statements but adverse opinions on the effectiveness of internal control over financial reporting due to material weaknesses as of December 31, 2024 and 2025. Director Scott Gordon resigned from the Board and its committees, with the company stating his departure was not due to any disagreement over operations, policies, or practices.
WM Technology, Inc., operator of the Weedmaps cannabis marketplace and Weedmaps for Business software suite, describes a two-sided platform connecting consumers with licensed retailers and brands. The company generated $174.7 million in revenue and had 5,190 average monthly paying clients for the year ended December 31, 2025.
WM Technology highlights its capital‑light, software-driven model, extensive first‑party data and long operating history in cannabis technology as key strengths. It outlines growth plans to deepen marketplace engagement, expand into new U.S. markets as legalization advances, broaden SaaS offerings and pursue selective acquisitions.
The filing stresses substantial risks: dependence on evolving U.S. state cannabis laws versus continuing federal illegality, competition from illicit and hemp-derived products, high exposure to California, pricing and client retention challenges, ongoing material weaknesses in internal controls and past financial statement restatements, as well as active and potential litigation and regulatory scrutiny.
WM Technology, Inc., operator of the Weedmaps cannabis marketplace and Weedmaps for Business software suite, describes a two-sided platform connecting consumers with licensed retailers and brands. The company generated $174.7 million in revenue and had 5,190 average monthly paying clients for the year ended December 31, 2025.
WM Technology highlights its capital‑light, software-driven model, extensive first‑party data and long operating history in cannabis technology as key strengths. It outlines growth plans to deepen marketplace engagement, expand into new U.S. markets as legalization advances, broaden SaaS offerings and pursue selective acquisitions.
The filing stresses substantial risks: dependence on evolving U.S. state cannabis laws versus continuing federal illegality, competition from illicit and hemp-derived products, high exposure to California, pricing and client retention challenges, ongoing material weaknesses in internal controls and past financial statement restatements, as well as active and potential litigation and regulatory scrutiny.
WM Technology, Inc. reported weaker 2025 results but remained profitable for the full year. Revenue was $43.1 million in the fourth quarter, down from $47.7 million a year earlier, leading to a net loss of $5.0 million versus prior net income of $3.7 million.
For full year 2025, revenue declined to $174.7 million from $184.5 million, while net income fell to $3.3 million from $12.2 million. Adjusted EBITDA was $39.8 million, down from $42.9 million. Cash increased to $62.4 million as of December 31, 2025, and total shares outstanding were 157.8 million.
The company expects first quarter 2026 revenue to decline by mid- to high-single digit percentages sequentially from the fourth quarter. WM Technology also appointed Nick Rellas, co-founder and former CEO of Drizly, to its board of directors.
WM Technology, Inc. reported weaker 2025 results but remained profitable for the full year. Revenue was $43.1 million in the fourth quarter, down from $47.7 million a year earlier, leading to a net loss of $5.0 million versus prior net income of $3.7 million.
For full year 2025, revenue declined to $174.7 million from $184.5 million, while net income fell to $3.3 million from $12.2 million. Adjusted EBITDA was $39.8 million, down from $42.9 million. Cash increased to $62.4 million as of December 31, 2025, and total shares outstanding were 157.8 million.
The company expects first quarter 2026 revenue to decline by mid- to high-single digit percentages sequentially from the fourth quarter. WM Technology also appointed Nick Rellas, co-founder and former CEO of Drizly, to its board of directors.
WM Technology, Inc. has appointed Nicholas Rellas to its Board of Directors as a Class III director, effective March 5, 2026. He will serve until the company’s 2027 annual stockholder meeting, or until a successor is in place or his earlier departure.
The Board determined that Mr. Rellas qualifies as an independent director under Nasdaq Rule 5605(a)(2), and the company states there are no related-party transactions requiring disclosure. Under the Amended Non-Employee Director Compensation Policy, he received a one-time restricted stock unit grant valued at approximately $400,000, vesting in three equal annual installments on the dates of the next three annual stockholder meetings.
WM Technology also entered into its standard indemnification agreement with Mr. Rellas in connection with his appointment.
WM Technology, Inc. has appointed Nicholas Rellas to its Board of Directors as a Class III director, effective March 5, 2026. He will serve until the company’s 2027 annual stockholder meeting, or until a successor is in place or his earlier departure.
The Board determined that Mr. Rellas qualifies as an independent director under Nasdaq Rule 5605(a)(2), and the company states there are no related-party transactions requiring disclosure. Under the Amended Non-Employee Director Compensation Policy, he received a one-time restricted stock unit grant valued at approximately $400,000, vesting in three equal annual installments on the dates of the next three annual stockholder meetings.
WM Technology also entered into its standard indemnification agreement with Mr. Rellas in connection with his appointment.