Cannabis Tech Leader Sees Revenue Falling But Losses Shrinking
Portfolio Pulse from Patricio Liddle
WM Technology Inc (NASDAQ:MAPS) reported a mixed financial performance for Q3 2023 with revenues falling to $47.7 million from $50.5 million YoY, but net losses shrinking to $2.5 million from $10.5 million. The company's adjusted EBITDA stood at a positive $10.7 million, compared to a loss of $9.6 million in Q3 2022. The company projects revenues of around $47 million and an adjusted EBITDA of $5 million for Q4 2023.
November 09, 2023 | 7:31 pm
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WM Technology's Q3 2023 financial performance shows a decrease in revenue but a significant reduction in net losses and a positive shift in adjusted EBITDA. The company's shares were trading 5.50% lower following the announcement.
Despite the decrease in revenue, WM Technology managed to significantly reduce its net losses and report a positive adjusted EBITDA, indicating improved operational performance. However, the market reacted negatively to the news, with the company's shares trading 5.50% lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100