WM Technology, Inc.

NASDAQ•MAPS

CEO: Mr. Douglas Francis

Sector: Technology

Industry: Software - Application

Listing Date: 2019-10-01

WM Technology, Inc. provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States and internationally. The company offers Weedmaps marketplace that allows cannabis users to search for and browse cannabis products from retailers and brands, and reserve products from local retailers; and education and learning information to help newer consumers learn about the types of products to purchase. It also provides monthly subscription-based business software solutions, including WM Listings, WM Orders, WM Store, WM Connectors, and WM Insights as well as other add-on products, such as WM Ads and WM Dispatch. The company was founded in 2008 and is headquartered in Irvine, California.

Contact Information

41 Discovery, Irvine, CA, 92618, United States

844-933-3627

weedmaps.com

Market Cap

$67.48M

P/E (TTM)

29.0

76.6

Dividend Yield

52W High

$1.36

52W Low

$0.31

52W Range

Rank42Top 47.5%

3.9

F-Score

Modified Piotroski Analysis

Based on 8-year fundamentals

Weak • 3.9 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2018-2025

Financial Dashboard

Q1 2026 Data

Revenue

$43.56M+0.00%

4-Quarter Trend

EPS

$0.01+0.00%

4-Quarter Trend

FCF

-$1.29M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Decline Noted Revenues fell 5% to $174.7M in FY2025, driven by client spending compression across core markets.

Net Income Significantly Lower Net income dropped to $3.3M in 2025 compared to $12.2M in 2024, reflecting lower operating income.

Client Base Growth Continues Average monthly paying clients increased 2% to 5,190 in 2025, despite lower average revenue per client.

Strong Cash Position Maintained Cash and cash equivalents totaled $62.4M at year-end 2025, supporting operations with no long-term debt.

Risk Factors

Internal Control Material Weaknesses Ongoing material weaknesses in IT general and process-level controls existed as of December 31, 2025.

California Market Concentration Performance remains highly susceptible to California trends, generating 56% of total revenue in 2025.

Litigation and Regulatory Exposure Settled SEC matter for $1.5M penalty; $2.8M accrued for shareholder class action settlement reached in principle.

Nasdaq Listing Bid Price Risk Received Nasdaq notice regarding minimum closing bid price compliance; intends to monitor and assess actions.

Outlook

Expand Marketplace Monetization Plan to grow two-sided marketplace and expand Weedmaps for Business solutions to monetize GMV potential.

Continue Market Expansion Efforts Opportunity exists to grow client base by expanding into new legalized cannabis markets across the US.

Remediation Efforts Underway Actively implementing remediation plan for control weaknesses, including configuration of a new ERP system in 2026.

Pursue Strategic Acquisitions Will selectively pursue technology acquisition opportunities that complement existing products or accelerate growth strategy.

Peer Comparison

Revenue (TTM)

DSP

$362.10M

+18.1%

MYPS

$230.80M

-15.9%

NRDY

$180.13M

-2.2%

Gross Margin (Latest Quarter)

MAPS

94.9%

-0.3pp

DSP

83.5%

+2.4pp

NRDY

65.6%

-7.6pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
DSP	$728.37M	76.5	16.7%	5.3%
NRDY	$121.90M	-3.7	-141.9%	26.7%
SSTI	$104.02M	-6.9	-20.8%	3.8%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-1.0%

Flat Growth

4Q Net Income CAGR

-6.4%

Declining Profitability

Cash Flow Stability

75%

Volatile Cash Flow

Deep Research

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data