Wm Technology, Inc. ( (MAPS) ) has released its Q4 earnings. Here is a breakdown of the information Wm Technology, Inc. presented to its investors.
WM Technology, Inc., headquartered in Irvine, California, operates Weedmaps, a prominent cannabis marketplace, and provides eCommerce and compliance software solutions for cannabis businesses in U.S. state-legal markets. The company has reported its financial results for the fourth quarter and full year of 2024, highlighting a revenue of $47.7 million for the quarter and $184.5 million for the year, marking its ninth consecutive quarter of adjusted EBITDA profitability.
In the fourth quarter of 2024, WM Technology saw a slight increase in revenue compared to the previous quarter, driven by its Deal Listing and Display Ad products. The company reported a net income of $3.7 million, a decrease from the previous quarter but an improvement from a net loss in the same period last year. The adjusted EBITDA for the quarter rose to $11.9 million, reflecting operational discipline and strategic client acquisitions.
For the full year 2024, the company experienced a slight decline in revenue compared to 2023, attributed to constrained client marketing budgets and industry consolidation. Despite this, WM Technology achieved a net income of $12.2 million, a significant turnaround from a net loss in the previous year. The adjusted EBITDA for the year increased to $42.9 million, supported by favorable pricing changes in its Weedmaps for Business segment.
Looking ahead, WM Technology remains focused on strategic investments in technology and marketing to support long-term growth. The company anticipates first-quarter 2025 revenue of approximately $43 million and a non-GAAP adjusted EBITDA of around $7 million, as it continues to navigate industry challenges and capitalize on market opportunities.