NASDAQ-Listed Cannabis Giant Misses Tech Rally: What Investors Need To Know About MAPS' Stock
Portfolio Pulse from Nicolás Jose Rodriguez
WM Technology (NASDAQ:MAPS) reported a 3% sequential sales increase to $45.9 million for 2Q24, despite a 5% year-over-year decline. SaaS revenues surged 19%, while listing revenues fell 14%. The company maintained stable EBITDA margins at 22% and increased cash reserves. Analyst Pablo Zuanic reiterated a 'Neutral' rating but noted potential growth opportunities. MAPS expects 3Q24 sales of $44 million with declining EBITDA margins.
September 17, 2024 | 1:38 pm
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WM Technology reported a 3% sequential sales increase to $45.9 million for 2Q24, with SaaS revenues up 19%. Despite a 5% year-over-year decline, the company maintained stable EBITDA margins at 22% and increased cash reserves. Analyst Pablo Zuanic reiterated a 'Neutral' rating but noted potential growth opportunities.
The news highlights both positive and negative aspects for MAPS. While there is a sequential sales increase and growth in SaaS revenues, there is also a year-over-year decline in listing revenues and a projected decline in EBITDA margins for 3Q24. The 'Neutral' rating suggests a balanced view, with potential growth opportunities noted.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100