WM Technology Stock Crashes On Heels Of Q3 Earnings Results With 9% YoY Revenue Growth

WM Technology, Inc. (NASDAQ: MAPS), a and software infrastructure provider to the cannabis industry and the owner of Weedmaps, released its third-quarter financial results, revealing revenue of $50.9 million, up by 9% from the third quarter of 2020.

Q3 Financial Highlights

  • Gross profits amounted to $48.8 million implying a 96% margin rate, which reflects a 50bps margin expansion from the prior year;
  • Net income was $49.2 million as compared to $15.5 million from the prior-year period;
  • Adjusted EBITDA was a gain of $10.4 million, versus $16.5 million from the same quarter of 2020;
  • Basic net income per share was $0.32 based on 64.2 million of class A common stock weighted average shares outstanding. Diluted net income per share was $0.02 based on 68.3 million class A common stock weighted average diluted shares outstanding.
  • Monthly active users increased to 13.9 million on September 30, 2021, or 37% compared to the prior-year period;
  • Average monthly revenue per paying client increased …

Full story available on Benzinga.com

More WM Technology Stock Crashes On Heels Of Q3 Earnings Results With 9% YoY Revenue Growth