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Wm Technology, Inc. (MAPS)
:MAPS
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WM Technology
(NASDAQ:MAPS)
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Rating:57Neutral
Price Target:
$1.00
▼(-6.54% Downside)
The overall stock score of 57 reflects significant challenges in financial performance and technical analysis. While the company shows strong gross margins and some profitability improvements, declining revenue and bearish technical indicators weigh heavily on the score. The valuation is reasonable, and the earnings call highlights some positive strategic developments, but these are not enough to offset the broader concerns.
WM Technology (MAPS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$124.15M
Dividend YieldN/A
Average Volume (3M)988.39K
Price to Earnings (P/E)10.0
Beta (1Y)0.74
Revenue Growth0.59%
EPS GrowthN/A
CountryUS
Employees440
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.02
Shares Outstanding107,897,130
10 Day Avg. Volume794,098
30 Day Avg. Volume988,388
Financial Highlights & Ratios
PEG Ratio-0.10
Price to Book (P/B)3.68
Price to Sales (P/S)0.72
P/FCF Ratio5.31
Enterprise Value/Market Cap1.37
Enterprise Value/Revenue0.92
Enterprise Value/Gross Profit0.97
Enterprise Value/Ebitda5.57
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.13
Revenue Forecast (FY)$175.60M
WM Technology Business Overview & Revenue Model
Company DescriptionWM Technology, known for its flagship product MAPS, operates within the cannabis industry, providing a comprehensive platform for cannabis retailers and brands. The company specializes in software solutions that help businesses manage their operations, streamline compliance with regulations, and enhance customer engagement. WM Technology's offerings include point-of-sale systems, inventory management, and marketing tools tailored for the unique needs of cannabis businesses, making it a crucial player in the sector.
How the Company Makes MoneyWM Technology generates revenue primarily through subscription fees for its software services, which provide cannabis retailers with essential tools for their operations. The company also earns money through transaction fees on sales processed through its platform. Additionally, WM Technology has established partnerships with various cannabis brands and retailers, enhancing its service offerings and driving further revenue through integrated marketing services and analytics solutions. The growth of the legal cannabis market and the increasing demand for technology solutions in this sector significantly contribute to its earnings.
WM Technology Earnings Call Summary
Earnings Call Date:Aug 07, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Mar 12, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a balanced sentiment with consistent profitability and strategic advancements mitigating the impact of revenue decline and market challenges. The company shows resilience in emerging markets and product innovation despite regulatory hurdles and declining revenue metrics.Q2-2025 Updates
Positive Updates
Consecutive Profitability and Cash Flow
WM Technology achieved its 11th consecutive quarter of adjusted EBITDA profitability and eighth consecutive quarter of positive cash flow, signifying consistent operational rigor.
Emerging Market Progress
The company is witnessing accelerated client onboarding in emerging markets like New York, achieving significant retail density on its marketplace.
Expansion in Product Offerings
Significant progress in new product development under CTO Sarah Griffis, with promising results from beta testing expanded premium placement opportunities for brands.
Strong Balance Sheet
WM Technology ended the quarter with $59 million in cash, marking its eighth consecutive quarter of cash growth and maintaining a debt-free position.
Increased Client Acquisition
The company increased its average monthly paying clients by 4% to 5,241, driven by new client acquisition in emerging markets such as New York and Ohio.
Negative Updates
Revenue Decline
Second quarter revenue was $44.8 million, a decline of 2% from the prior year, affected by ongoing market headwinds and reduced client marketing spend.
Challenges in Key Markets
Pressure in key markets like California and Michigan due to increased taxes, overregulation, and price compression, impacting revenue opportunities.
Average Revenue Per Client Decline
Average monthly revenue per paying client declined 6% to $2,852, due to reduced spend in mature markets and onboarding new clients at lower initial spend levels.
Regulatory Uncertainty in Hemp Market
Legislative activities in states like Texas create uncertainty in the hemp market, delaying the company’s potential product expansion in this area.
Revenue Outlook Lowered
The company expects third-quarter revenue to be between $41 million and $43 million, reflecting ongoing market softness and volatility.
Company Guidance
During WM Technology, Inc.'s second quarter 2025 earnings call, the company provided guidance indicating expected third-quarter revenue between $41 million to $43 million and non-GAAP adjusted EBITDA ranging from $5 million to $7 million. Despite a 2% year-over-year revenue decline in Q2 to $44.8 million, the company achieved an 81% increase in net income to $2.2 million and a 16% rise in non-GAAP adjusted EBITDA to $11.7 million. The decline was mainly attributed to lower revenue from featured and deal listings due to market headwinds, while display advertising saw growth. Average monthly paying clients increased by 4% to 5,241, although average monthly revenue per paying client fell by 6% to $2,852. The company ended the quarter with $59 million in cash, marking eight consecutive quarters of cash growth, and maintained no debt, providing flexibility amid market uncertainties.WM Technology Financial Statement Overview
Summary
WM Technology demonstrates strong gross margins and improving profitability metrics, but faces challenges with declining revenue and inconsistent cash flow performance. The balance sheet shows signs of improvement in leverage, but the company needs to address its revenue growth and cash flow stability to ensure long-term financial health.Income Statement
WM Technology shows a strong gross profit margin of over 95% consistently, indicating efficient cost management. However, the company has experienced declining revenue growth, with a significant drop in the TTM period. Net profit margins have improved recently but remain modest. The EBIT and EBITDA margins are positive, showing operational profitability, but the declining revenue trend is a concern.65
Positive
Balance Sheet
The company has managed to reduce its debt-to-equity ratio over time, indicating improved financial leverage. However, the return on equity has been volatile, with recent improvements. The equity ratio is relatively low, suggesting potential financial risk. Overall, the balance sheet shows some improvement but remains a concern due to past high leverage.55
Neutral
Cash Flow
WM Technology's cash flow performance is mixed. The operating cash flow to net income ratio is healthy, indicating good cash generation relative to earnings. However, free cash flow growth has been negative recently, and the free cash flow to net income ratio shows some inconsistency. The company needs to stabilize its cash flow generation to improve its financial health.60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 183.68M | 184.51M | 187.99M | 215.53M | 193.15M | 161.79M |
| Gross Profit | 174.69M | 175.50M | 175.47M | 200.12M | 185.21M | 154.16M |
| EBITDA | 30.52M | 31.80M | 23.01M | -49.15M | -1.38M | 45.18M |
| Net Income | 8.76M | 7.64M | -9.90M | -115.99M | 60.38M | 38.83M |
Balance Sheet | ||||||
| Total Assets | 188.07M | 181.87M | 167.02M | 199.03M | 365.14M | 53.89M |
| Cash, Cash Equivalents and Short-Term Investments | 58.95M | 51.97M | 34.35M | 28.58M | 67.78M | 19.92M |
| Total Debt | 28.32M | 30.09M | 33.04M | 39.38M | 44.84M | 205.00K |
| Total Liabilities | 60.06M | 61.80M | 63.87M | 84.26M | 233.20M | 24.62M |
| Stockholders Equity | 52.74M | 36.08M | 16.38M | 13.38M | 63.56M | 29.27M |
Cash Flow | ||||||
| Free Cash Flow | 22.36M | 25.04M | 11.06M | -27.68M | 15.16M | 37.92M |
| Operating Cash Flow | 33.35M | 36.68M | 22.93M | -11.62M | 23.09M | 39.24M |
| Investing Cash Flow | -10.99M | -11.64M | -11.87M | -17.77M | -30.43M | -1.31M |
| Financing Cash Flow | -4.70M | -7.42M | -5.29M | -9.80M | 55.20M | -22.97M |
WM Technology Technical Analysis
Negative
1.07
Price Trends
1.09
Negative
1.07
Negative
1.11
Negative
Market Momentum
-0.08
Positive
24.36
Positive
4.26
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MAPS, the sentiment is Negative. The current price of 1.07 is above the 20-day moving average (MA) of 0.97, below the 50-day MA of 1.09, and below the 200-day MA of 1.11, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 24.36 is Positive, neither overbought nor oversold. The STOCH value of 4.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MAPS.
WM Technology Risk Analysis
WM Technology disclosed 81 risk factors in its most recent earnings report. WM Technology reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
WM Technology Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $124.15M | 10.00 | 18.24% | ― | 0.59% | ― | |
57 Neutral | $606.12M | ― | -28.65% | ― | 16.40% | 22.80% | |
54 Neutral | $220.29M | ― | -20.20% | ― | -6.23% | 28.57% | |
53 Neutral | $266.77M | ― | -25.48% | ― | -24.30% | -181.62% | |
48 Neutral | $173.94M | ― | -120.79% | ― | -9.86% | 0.87% | |
42 Neutral | $65.20M | ― | -451.95% | ― | 35.79% | 14.85% |
* Technology Sector Average
MAPS
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WM Technology Corporate Events
WM Technology, Inc. Reports Strong Cash Position Amid Revenue Decline
Nov 7, 2025
WM Technology, Inc. is a prominent marketplace and technology solutions provider for the cannabis industry, offering eCommerce and compliance software solutions to cannabis businesses and brands in U.S. state-legal markets.
Executive/Board Changes
WM Technology Board Member Olga Gonzalez Resigns
Neutral
Aug 29, 2025
On August 25, 2025, Olga Gonzalez announced her resignation from WM Technology, Inc.’s board of directors and all related committees, effective September 2, 2025. Her decision was not due to any disagreements with the company’s operations, policies, or practices.
The most recent analyst rating on (MAPS) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on WM Technology stock, see the MAPS Stock Forecast page.
Executive/Board Changes
WM Technology Board Member Tony Aquila Resigns
Neutral
Aug 19, 2025
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.
The most recent analyst rating on (MAPS) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on WM Technology stock, see the MAPS Stock Forecast page.
Wm Technology, Inc. Navigates Mixed Earnings Call
Aug 13, 2025
The recent earnings call for Wm Technology, Inc. painted a mixed picture of the company’s current standing and future prospects. While the company demonstrated strong operational discipline with consecutive profitability and cash flow growth, challenges in revenue and market conditions, especially in mature markets, continue to pose risks. Positive signs include new client growth in emerging markets and strategic product developments, yet legislative uncertainties and declining client spending in key areas weigh on future prospects.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.