WM Technology (MAPS) AI Stock Analysis

• Market Cap: $180.03M
• Dividend Yield: N/A
• Average Volume (3M): 1.32M
• Price to Earnings (P/E): 13.3
• Beta (1Y): 0.84
• Revenue Growth: 2.37%
• EPS Growth: N/A
• Country: US
• Employees: 440
• Sector: Technology
• Sector Strength: 86
• Industry: Software - Application
• EPS (TTM): 0.01
• Shares Outstanding: 107,226,460
• 10 Day Avg. Volume: 2,730,398
• 30 Day Avg. Volume: 1,315,205
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: 0.77
• Enterprise Value/Gross Profit: 0.80
• Enterprise Value/Ebitda: 4.63
• 1Y Price Target: $1.00
• Price Target Upside: -14.53% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 65 Neutral
• Price Target: $1.00 ▼(-14.53% Downside)

WM Technology's overall stock score is driven by solid financial performance and reasonable valuation. The company's strong cash flow and operational capabilities are offset by challenges in revenue growth and profitability consistency. Technical indicators suggest short-term bullish momentum, but longer-term sentiment remains cautious. The earnings call highlights strategic advancements and resilience in emerging markets, though revenue decline and market challenges persist.

WM Technology Business Overview & Revenue Model

Company Description

WM Technology, Inc., operating under the brand name Weedmaps, is a leading technology and software infrastructure provider to the cannabis industry. The company offers a comprehensive suite of cloud-based software solutions and data-driven insights to cannabis retailers, brands, and consumers. Its core products include marketplace listings, point-of-sale systems, logistics, and compliance software, which facilitate legal cannabis transactions and enhance business operations.

How the Company Makes Money

WM Technology generates revenue primarily through its software solutions and marketplace services tailored to the cannabis industry. The company earns money by charging subscription fees to cannabis businesses for access to its suite of software tools and marketplace platform. These tools help businesses manage operations, enhance customer engagement, and ensure regulatory compliance. Additionally, Weedmaps derives revenue from advertising services, where cannabis brands and retailers pay for enhanced visibility and promotional placements within the marketplace. Strategic partnerships with cannabis industry stakeholders further contribute to its revenue streams by expanding the reach and adoption of its technology solutions.

WM Technology Financial Statement Overview

Summary

WM Technology demonstrates solid operational capabilities with strong gross margins and improving cash flow metrics. However, challenges remain in revenue growth and profitability consistency. The balance sheet reflects a stable capital structure with moderate leverage, and cash flow indicators point to efficient cash management. The company needs to focus on sustaining revenue growth and maintaining profitability.

Income Statement

The company shows a strong gross profit margin with TTM at 95.16%, indicating effective cost management. However, the net profit margin is modest at 4.36% TTM, with recent years showing inconsistent profitability. Revenue growth is negative year-over-year, indicating a decline from 2022 to 2024. EBIT and EBITDA margins are improving but were negative in earlier years, highlighting past operational challenges.

Balance Sheet

The debt-to-equity ratio is moderate at 0.60 TTM, showing a manageable level of leverage. The return on equity has improved significantly to 16.61% TTM, indicating better utilization of equity. The equity ratio is 26.37% TTM, suggesting a stable capital structure, although there were fluctuations in previous years.

Cash Flow

The company has a strong free cash flow to net income ratio of 3.01 TTM, indicating good cash generation relative to earnings. Operating cash flow to net income ratio stands at 4.34 TTM, showing efficient cash operations. Free cash flow growth is stable, reflecting good cash management, although past periods showed variability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	184.74M	184.51M	187.99M	215.53M	193.15M	161.79M
Gross Profit	175.78M	175.50M	175.47M	200.12M	185.21M	154.16M
EBITDA	30.52M	31.80M	1.43M	107.92M	-1.38M	45.18M
Net Income	8.05M	7.64M	-9.90M	-115.99M	60.38M	38.83M
Balance Sheet
Total Assets	183.83M	181.87M	167.02M	199.03M	365.14M	53.89M
Cash, Cash Equivalents and Short-Term Investments	53.27M	51.97M	34.35M	28.58M	67.78M	19.92M
Total Debt	29.23M	30.09M	33.04M	39.38M	44.84M	205.00K
Total Liabilities	60.11M	61.80M	63.87M	84.26M	233.20M	24.62M
Stockholders Equity	48.47M	36.08M	16.38M	13.38M	63.56M	29.27M
Cash Flow
Free Cash Flow	24.19M	25.04M	11.06M	-27.68M	15.16M	37.92M
Operating Cash Flow	34.94M	36.68M	22.93M	-11.62M	23.09M	39.24M
Investing Cash Flow	-10.75M	-11.64M	-11.87M	-17.77M	-30.43M	-1.31M
Financing Cash Flow	-6.63M	-7.42M	-5.29M	-9.80M	55.20M	-22.97M

WM Technology Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.17
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MAPS, the sentiment is Positive. The current price of 1.17 is above the 20-day moving average (MA) of 1.06, above the 50-day MA of 1.00, and above the 200-day MA of 1.17, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 58.50 is Neutral, neither overbought nor oversold. The STOCH value of 50.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MAPS.

WM Technology Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PERF	71 Outperform	$206.75M	33.50	4.19%	―	13.19%	9.39%
MAPS	65 Neutral	$180.03M	13.29	22.69%	―	2.37%	―
Sector *	61 Neutral	$35.62B	8.22	-10.94%	1.88%	8.86%	-10.36%
SMRT	58 Neutral	$270.82M	―	-25.48%	―	-28.45%	-224.48%
ONTF	54 Neutral	$233.11M	―	-22.60%	―	-6.88%	15.83%
LAW	49 Neutral	$317.35M	―	-36.64%	―	4.05%	-100.64%
MRT	46 Neutral	$195.20M	―	103.42%	―	―	―

WM Technology Corporate Events

WM Technology Board Member Tony Aquila Resigns

On August 13, 2025, Tony Aquila announced his resignation from the board of directors and all committees of WM Technology, Inc., effective September 2, 2025. His departure was not due to any disagreements with the company or issues related to its operations, policies, or practices.

WM Technology Holds Annual Stockholders Meeting

On June 24, 2025, WM Technology, Inc. held its Annual Meeting of Stockholders, with 76% of shares represented. Stockholders elected Anthony Bay and Glen Ibbott as Class I Directors to serve until 2028. They also approved the compensation of named executive officers and ratified Baker Tilly US, LLP as the independent registered public accounting firm for 2025.

WM Technology Co-Founders Withdraw Acquisition Proposal

On June 23, 2025, WM Technology received a letter from its co-founders, Doug Francis and Justin Hartfield, withdrawing their previous proposal to acquire all outstanding shares of the company. The Special Committee of the Board of Directors confirmed the withdrawal and stated that the co-founders might consider submitting an alternative proposal in the future. The committee, which has retained Evercore Group L.L.C. as its financial advisor and Allen Overy Shearman Sterling US LLP as its legal advisor, remains committed to acting in the best interests of all stockholders.