WM Technology, Inc.(MAPS)Earnings, Financials & Key Ratios

MAPS•NASDAQ

$0.37

$18M mkt cap·18.7× P/E·Price updated May 6, 2026

SectorTechnology IndustryApplication Software Sub-IndustryE-commerce platforms and retail enablement

AboutWM 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.Show more

Revenue$175M-5.3%
EBITDA$14M-55.5%
Net Income$2M-74.3%
EPS (Diluted)0.02-74.6%
Gross Margin94.94%-0.2%
EBITDA Margin8.11%-53.0%
Operating Margin0.44%-94.5%
Net Margin1.12%-72.9%
ROE1.56%-77.2%
ROIC0.59%-94.6%
Debt/Equity0.20-19.6%

Technical→

MAPS Key Insights

WM Technology, Inc. (MAPS) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.3x book value

✗Weaknesses

✗Profits declining 45.0% over 5 years
✗Weak momentum: RS Rating 4 (bottom 4%)
✗Shares diluted 11.4% in last year
✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

MAPS Price & Volume

WM Technology, Inc. (MAPS) stock price & volume — 10-year historical chart

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MAPS Growth Metrics

WM Technology, Inc. (MAPS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years1.55%

3 Years-6.76%

TTM-5.32%

Profit CAGR

10 Years-

5 Years-44.96%

3 Years-

TTM-74.32%

EPS CAGR

10 Years-

5 Years-49.18%

3 Years-

TTM-74.42%

Return on Capital

10 Years6.38%

5 Years-7.12%

3 Years-0.68%

Last Year0.5%

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
TPVGTriplePoint Venture Growth BDC Corp.Direct Competitor	225.54M	5.57	4.57	36.55%		13.09%	1.33
IIPRInnovative Industrial Properties, Inc.Product Competitor	1.65B	57.69	14.68	-13.8%	45.58%	6.41%	0.21
GRWGGrowGeneration Corp.Product Competitor	81.98M	1.37	-3.43	-14.36%	-14.87%	-22.9%	0.30
HYFMHydrofarm Holdings Group, Inc.Product Competitor	5.32M	1.14	-0.08	-16.02%	-44.49%	-32.29%	0.76
CRONCronos Group Inc.Supply Chain	999.77M	2.62		64.4%	-4.89%	-0.86%	0.00
CGCCanopy Growth CorporationSupply Chain	123.69M	1.15	-0.28	-9.47%	-110.99%	-43.07%	0.72
TLRYTilray Brands, Inc.Supply Chain	671.17M	5.76	-0.17	4.84%	-252.55%	-136.55%	0.22
YELPYelp Inc.Often Compared	1.76B	28.31	12.64	3.75%	9.94%	19.96%	0.06

Compare MAPS vs Peers

WM Technology, Inc. (MAPS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs TPVG

Most directly comparable listed peer for MAPS.

Scale Benchmark

vs TRMK

Larger-name benchmark to compare MAPS against a more recognizable public peer.

Peer Set

Compare Top 5

vs TPVG, IIPR, GRWG, HYFM

MAPS Income Statement

WM Technology, Inc. (MAPS) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Sales/Revenue	101.4M	144.23M	161.79M	193.15M	215.53M	187.99M	184.51M	174.7M
Revenue Growth %	-	42.24%	12.17%	19.38%	11.59%	-12.78%	-1.85%	-5.32%
Cost of Goods Sold	6.3M	7.07M	7.63M	7.94M	15.41M	12.53M	9.02M	8.83M
COGS % of Revenue	6.22%	4.9%	4.72%	4.11%	7.15%	6.66%	4.89%	5.06%
Gross Profit	95.1M▲ 0%	137.16M▲ 44.2%	154.16M▲ 12.4%	185.21M▲ 20.1%	200.12M▲ 8.1%	175.47M▼ 12.3%	175.5M▲ 0.0%	165.87M▼ 5.5%
Gross Margin %	93.78%	95.1%	95.28%	95.89%	92.85%	93.34%	95.11%	94.94%
Gross Profit Growth %	-	44.23%	12.4%	20.14%	8.05%	-12.32%	0.02%	-5.48%
Operating Expenses	80.12M	130.87M	112.96M	193.39M	269.75M	193.92M	160.75M	165.1M
OpEx % of Revenue	79.01%	90.74%	69.82%	100.12%	125.15%	103.15%	87.12%	94.51%
Selling, General & Admin	56.73M	96.21M	81.84M	151.19M	203.41M	121.39M	111.04M	115.8M
SG&A % of Revenue	55.95%	66.71%	50.59%	78.28%	94.38%	64.57%	60.18%	66.28%
Research & Development	20.03M	29.5M	27.14M	35.4M	50.52M	36M	36.43M	28.14M
R&D % of Revenue	19.76%	20.45%	16.78%	18.33%	23.44%	19.15%	19.74%	16.11%
Other Operating Expenses	2.15M	5.16M	3.98M	6.8M	15.81M	36.54M	13.28M	21.17M
Operating Income	16.18M▲ 0%	6.29M▼ 61.1%	41.2M▲ 555.3%	-8.18M▼ 119.9%	-69.62M▼ 751.3%	-18.46M▲ 73.5%	14.75M▲ 179.9%	766K▼ 94.8%
Operating Margin %	15.96%	4.36%	25.46%	-4.23%	-32.3%	-9.82%	7.99%	0.44%
Operating Income Growth %	-	-61.15%	555.29%	-119.85%	-751.33%	73.49%	179.9%	-94.81%
EBITDA	18.33M	11.45M	45.18M	-3.75M	-53.47M	-1.39M	31.8M	14.16M
EBITDA Margin %	18.08%	7.94%	27.92%	-1.94%	-24.81%	-0.74%	17.23%	8.11%
EBITDA Growth %	-	-37.54%	294.58%	-108.31%	-1324.7%	97.39%	2380.85%	-55.46%
D&A (Non-Cash Add-back)	2.15M	5.16M	3.98M	4.42M	16.15M	17.06M	17.05M	13.39M
EBIT	16.18M	6.29M	41.2M	-5.81M	-65.31M	5.95M	14.75M	0
Net Interest Income	0	1.81M	0	0	0	0	0	0
Interest Income	621.46K	1.81M	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	0	0
Other Income/Expense	-1.83M	-5.34M	-2.37M	159.79M	166.05M	2.82M	-2.52M	2.59M
Pretax Income	14.35M▲ 0%	946K▼ 93.4%	38.83M▲ 4004.7%	151.62M▲ 290.5%	96.43M▼ 36.4%	-15.63M▼ 116.2%	12.23M▲ 178.2%	3.36M▼ 72.6%
Pretax Margin %	14.16%	0.66%	24%	78.5%	44.74%	-8.32%	6.63%	1.92%
Income Tax	0	1.32M	0	-601K	179.08M	93K	46K	93K
Effective Tax Rate %	0%	139.64%	0%	-0.4%	185.71%	-0.59%	0.38%	2.77%
Net Income	14.35M▲ 0%	-375K▼ 102.6%	38.83M▲ 10454.7%	60.38M▲ 55.5%	-115.99M▼ 292.1%	-9.9M▲ 91.5%	7.64M▲ 177.2%	1.96M▼ 74.3%
Net Margin %	14.16%	-0.26%	24%	31.26%	-53.82%	-5.27%	4.14%	1.12%
Net Income Growth %	-	-102.61%	10454.67%	55.51%	-292.09%	91.47%	177.18%	-74.32%
Net Income (Continuing)	14.35M	-375K	38.83M	152.22M	-82.65M	-15.73M	12.19M	1.96M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	68.38M	101.4M	86.77M	83.99M	74.63M
EPS (Diluted)	2.08▲ 0%	-0.01▼ 100.6%	0.59▲ 5016.7%	-0.18▼ 130.5%	-1.36▼ 655.6%	-0.11▲ 91.9%	0.08▲ 171.5%	0.02▼ 74.6%
EPS Growth %	-	-100.58%	5016.67%	-130.51%	-655.56%	91.91%	171.55%	-74.59%
EPS (Basic)	2.08	-0.01	0.59	0.93	-1.36	-0.11	0.08	0.02
Diluted Shares Outstanding	6.91M	31.25M	65.68M	66.81M	85.03M	93.25M	97.1M	108.22M
Basic Shares Outstanding	6.91M	31.25M	65.68M	65.01M	85.03M	93.25M	96.25M	106.57M
Dividend Payout Ratio	79.59%	-	56.53%	31.46%	-	-	100.56%	-

MAPS Balance Sheet

WM Technology, Inc. (MAPS) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Total Current Assets	28.3M	1.15M	34.17M	98.93M	54.98M	51.49M	69.51M	84.92M
Cash & Short-Term Investments	25.77M	894.59K	19.92M	67.78M	28.58M	34.35M	51.97M	62.4M
Cash Only	25.77M	894.59K	19.92M	67.78M	28.58M	34.35M	51.97M	62.4M
Short-Term Investments	0	0	0	0	0	0	0	0
Accounts Receivable	1.36M	3.93M	9.43M	17.55M	17.44M	11.16M	10.06M	17.28M
Days Sales Outstanding	4.89	9.94	21.27	33.17	29.53	21.66	19.9	36.1
Inventory	0	-3.93M	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	1.83M	1.01M	2.41M	3.16M	5.24M
Total Non-Current Assets	19.76M	251.92M	19.73M	266.21M	144.05M	115.53M	112.35M	105.75M
Property, Plant & Equipment	8.28M	9.16M	7.39M	49.83M	56.38M	39.88M	38.77M	37.2M
Fixed Asset Turnover	12.24x	15.75x	21.90x	3.88x	3.82x	4.71x	4.76x	4.70x
Goodwill	3.96M	3.96M	3.96M	45.3M	68.37M	68.37M	68.37M	61.27M
Intangible Assets	6.31M	5.4M	4.5M	8.3M	10.34M	2.51M	1.95M	1.51M
Long-Term Investments	0	251.92M	0	0	3.5M	300K	0	0
Other Non-Current Assets	1.21M	4.55M	3.87M	10.69M	8.97M	4.48M	3.26M	5.76M
Total Assets	48.06M▲ 0%	253.08M▲ 426.6%	53.89M▼ 78.7%	365.14M▲ 577.5%	199.03M▼ 45.5%	167.02M▼ 16.1%	181.87M▲ 8.9%	190.67M▲ 4.8%
Asset Turnover	2.11x	0.57x	3.00x	0.53x	1.08x	1.13x	1.01x	0.92x
Asset Growth %	-	426.55%	-78.7%	577.52%	-45.49%	-16.08%	8.89%	4.84%
Total Current Liabilities	17.64M	96.89K	23.25M	37.8M	46.32M	33.72M	30.43M	36.24M
Accounts Payable	7.31M	12.01M	2.24M	4.3M	4.34M	7.32M	7.47M	0
Days Payables Outstanding	423.52	619.5	107.35	197.63	102.84	213.37	302.15	-
Short-Term Debt	5.23M	0	205K	0	0	0	0	3.92M
Deferred Revenue (Current)	0	0	5.26M	8.06M	6.26M	5.92M	5.43M	5.5M
Other Current Liabilities	5.1M	-14.79M	5.13M	11.21M	24.17M	122K	11.18M	26.82M
Current Ratio	1.60x	11.89x	1.47x	2.62x	1.19x	1.53x	2.28x	2.34x
Quick Ratio	1.60x	52.44x	1.47x	2.62x	1.19x	1.53x	2.28x	2.34x
Cash Conversion Cycle	-	-	-	-	-	-	-	-
Total Non-Current Liabilities	0	22.01M	1.37M	195.4M	37.94M	30.16M	31.37M	22.63M
Long-Term Debt	0	205.32K	0	0	0	0	0	22.63M
Capital Lease Obligations	0	0	0	39.38M	33.04M	26.55M	26.6M	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	21.8M	1.37M	156.03M	4.89M	3.6M	4.76M	0
Total Liabilities	17.64M	22.11M	24.62M	233.2M	84.26M	63.87M	61.8M	58.87M
Total Debt	5.23M	205.32K	205K	44.84M	39.38M	33.04M	30.09M	26.55M
Net Debt	-20.55M	-689.26K	-19.71M	-22.94M	10.79M	-1.31M	-21.87M	-35.85M
Debt / Equity	0.17x	0.00x	0.01x	0.34x	0.34x	0.32x	0.25x	0.20x
Debt / EBITDA	0.29x	0.02x	0.00x	-	-	-	0.95x	1.88x
Net Debt / EBITDA	-1.12x	-0.06x	-0.44x	-	-	-	-0.69x	-2.53x
Interest Coverage	-	-	-	-	-	-	-	-
Total Equity	30.12M▲ 0%	230.97M▲ 666.7%	29.27M▼ 87.3%	131.94M▲ 350.8%	114.78M▼ 13.0%	103.15M▼ 10.1%	120.07M▲ 16.4%	131.8M▲ 9.8%
Equity Growth %	-	666.74%	-87.33%	350.75%	-13.01%	-10.13%	16.4%	9.77%
Book Value per Share	4.36	7.39	0.45	1.97	1.35	1.11	1.24	1.22
Total Shareholders' Equity	30.12M	230.97M	29.27M	63.56M	13.38M	16.38M	36.08M	57.17M
Common Stock	21.51M	225.97M	29.27M	14K	14K	14K	15K	11K
Retained Earnings	8.61M	5M	0	61.37M	-54.62M	-64.52M	-56.88M	-54.92M
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	68.38M	101.4M	86.77M	83.99M	74.63M

MAPS Cash Flow Statement

WM Technology, Inc. (MAPS) cash flow — operating, investing & free cash flow history

Line item	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	17.69M	6.29M	39.24M	23.09M	-11.62M	22.93M	36.68M	26.19M
Operating CF Margin %	17.44%	4.36%	24.25%	11.96%	-5.39%	12.2%	19.88%	14.99%
Operating CF Growth %	-	-64.41%	523.29%	-41.15%	-150.32%	297.3%	59.96%	-28.6%
Net Income	12.68M	-375K	38.83M	152.22M	-82.65M	-9.9M	12.19M	1.96M
Depreciation & Amortization	2.15M	5.16M	3.98M	4.42M	11.5M	17.06M	17.05M	15.87M
Stock-Based Compensation	0	0	0	29.32M	23.49M	13.52M	9.22M	7.78M
Deferred Taxes	0	0	0	-842K	179.08M	0	2.77M	0
Other Non-Cash Items	2.43M	180K	1.27M	-158.66M	-146.19M	16.41M	-71K	579K
Working Capital Changes	428.86K	1.33M	-4.84M	-3.37M	3.15M	-14.16M	-4.48M	0
Change in Receivables	-432.1K	-2.75M	-6.77M	-13.61M	-16.27M	4.49M	1.06M	-8.94M
Change in Inventory	0	0	-3.06M	480K	0	0	0	0
Change in Payables	0	0	3.06M	-480K	14.08M	-15.28M	996K	582K
Cash from Investing	-2.12M	-5.13M	-1.31M	-30.43M	-17.77M	-11.87M	-11.64M	-12.69M
Capital Expenditures	-2.12M	-5.13M	-1.31M	-7.93M	-16.05M	-11.87M	-11.64M	0
CapEx % of Revenue	2.1%	3.56%	0.81%	4.11%	7.45%	6.31%	6.31%	-
Acquisitions	0	0	0	-16M	-1.71M	0	0	0
Investments	-	-	-	-	-	-	-	-
Other Investing	0	250M	0	-22.5M	0	0	0	-12.69M
Cash from Financing	3.24M	-21.97M	-22.97M	55.2M	-9.8M	-5.29M	-7.42M	-3.07M
Debt Issued (Net)	-2.94M	-5.02M	-616K	-205K	-7.34M	-1.45M	0	0
Equity Issued (Net)	-1000K	-1000K	-406K	-1000K	-13K	-6K	-4K	0
Dividends Paid	-11.42M	-15.38M	-21.95M	-19M	-2.45M	-4.22M	-7.68M	0
Share Repurchases	-1.69M	-1.57M	-406K	-5.57M	-13K	-6K	-4K	0
Other Financing	19.3M	0	0	79.97M	0	384K	263K	-3.07M
Net Change in Cash	18.81M▲ 0%	-20.8M▼ 210.6%	14.95M▲ 171.9%	47.86M▲ 220.1%	-39.19M▼ 181.9%	5.77M▲ 114.7%	17.62M▲ 205.5%	10.44M▼ 40.8%
Free Cash Flow	15.57M▲ 0%	1.17M▼ 92.5%	37.92M▲ 3152.6%	15.16M▼ 60.0%	-27.68M▼ 282.6%	11.06M▲ 140.0%	25.04M▲ 126.5%	26.19M▲ 4.6%
FCF Margin %	15.35%	0.81%	23.44%	7.85%	-12.84%	5.88%	13.57%	14.99%
FCF Growth %	-	-92.51%	3152.57%	-60.03%	-282.6%	139.95%	126.45%	4.59%
FCF per Share	2.25	0.04	0.58	0.23	-0.33	0.12	0.26	0.24
FCF Conversion (FCF/Net Income)	1.23x	-16.79x	1.01x	0.38x	0.10x	-2.32x	4.80x	13.35x
Interest Paid	0	157K	0	0	0	0	0	0
Taxes Paid	0	118K	1.34M	242K	0	38K	52K	0

MAPS Key Ratios

WM Technology, Inc. (MAPS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	47.65%	-0.29%	29.84%	74.91%	-94.03%	-9.08%	6.84%	1.56%
Return on Invested Capital (ROIC)	-	3.93%	25.77%	-10.35%	-44.52%	-12.17%	11.06%	0.59%
Gross Margin	93.78%	95.1%	95.28%	95.89%	92.85%	93.34%	95.11%	94.94%
Net Margin	14.16%	-0.26%	24%	31.26%	-53.82%	-5.27%	4.14%	1.12%
Debt / Equity	0.17x	0.00x	0.01x	0.34x	0.34x	0.32x	0.25x	0.20x
FCF Conversion	1.23x	-16.79x	1.01x	0.38x	0.10x	-2.32x	4.80x	13.35x
Revenue Growth	-	42.24%	12.17%	19.38%	11.59%	-12.78%	-1.85%	-5.32%

MAPS Frequently Asked Questions

WM Technology, Inc. (MAPS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

WM Technology, Inc. (MAPS) reported $174.7M in revenue for fiscal year 2025. This represents a 72% increase from $101.4M in 2018.

WM Technology, Inc. (MAPS) saw revenue decline by 5.3% over the past year.

Yes, WM Technology, Inc. (MAPS) is profitable, generating $2.0M in net income for fiscal year 2025 (1.1% net margin).

Dividend & Returns

WM Technology, Inc. (MAPS) has a return on equity (ROE) of 1.6%. This is below average, suggesting room for improvement.

WM Technology, Inc. (MAPS) generated $13.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More MAPS

WM Technology, Inc. (MAPS) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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WM Technology, Inc.(MAPS)Earnings, Financials & Key Ratios

MAPS Key Insights

✓Strengths

✗Weaknesses

MAPS Price & Volume

MAPS Growth Metrics

Revenue CAGR

Profit CAGR

EPS CAGR

Return on Capital

MAPS Peer Comparison

Compare MAPS vs Peers

vs TPVG

vs TRMK

Compare Top 5

MAPS Income Statement

MAPS Balance Sheet

MAPS Cash Flow Statement

MAPS Key Ratios

MAPS Frequently Asked Questions

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Dividend History

Earnings History

Price History

Revenue History

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