Streetbeat News

MAPS

WM Technology, Inc.

https://www.weedmaps.com

Industry

Software - Application

WM Technology, Inc. provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States, Canada, 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 information on the cannabis plant, and the industry and advocate related services for legalization. It also provides WM Business suite of monthly subscription-based software solutions, including WM Orders, WM Dispatch, WM Store, WM Dashboard, integrations, and API platform, as well as access to its WM Retail and WM Exchange products. In addition, the company offers advertising solutions; Sprout, a customer relationship management solution; and Cannveya, a delivery and logistics software solution. WM Technology, Inc. was founded in 2008 and is headquartered in Irvine, California.

Open

0.75

Mkt cap

75M

Volume

430K

High

0.81

P/E Ratio

-9.62

52-wk high

1.47

Low

0.75

Div yield

N/A

52-wk low

0.69

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.

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August 26, 2024 | 4:23 pm

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