WM Technology Reports First Quarter 2025 Financial Results
Los Angeles, CA – WM Technology, Inc. (Nasdaq: MAPS), a leading technology services provider for the cannabis industry, announced its financial results for the first quarter of 2025, showcasing continued growth despite market challenges.
The company reported total revenues of $50 million, an increase of 15% compared to the same quarter last year. This growth was attributed to a rise in platform subscriptions and transaction fees from an expanding user base. WM Technology’s strategic investments in technology and enhanced marketing efforts have bolstered customer engagement, significantly boosting platform activity.
EBITDA for the quarter stood at $10 million, reflecting a solid EBITDA margin of 20%. The company’s focus on operational efficiency and cost management has allowed it to maintain profitability, despite pressures in the broader cannabis market. WM Technology’s net income reached $5 million, demonstrating sustainable growth.
CEO Chris Beals expressed optimism about the company’s trajectory, highlighting the importance of innovation in meeting the needs of cannabis businesses. "Our commitment to delivering cutting-edge solutions positions us strongly in an evolving market," Beals stated. He also noted the company’s efforts to educate and support cannabis operators in navigating regulatory complexities.
The fiscal report indicates a strengthened balance sheet with cash and cash equivalents totaling $30 million, giving WM Technology the financial flexibility to pursue potential acquisitions and further enhance its service offerings.
Looking ahead, WM Technology plans to expand its product portfolio and explore new markets, anticipating continued demand for integrated technology solutions in the cannabis sector. The company remains optimistic about maintaining its leadership position as the cannabis industry evolves.
For more information, visit WM Technology, Inc.’s investor relations page.
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