WM Technology, Inc. Reports Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 revenue $38.5 million, down from $42.2 million year over year
- ➤Net loss $5.9 million versus prior-year net income of $3.6 million
- ➤Adjusted EBITDA $0.8 million, down from $7.6 million year over year
- ➤Q4 revenue expected to decline low-single digits from Q3
- ➤Cash fell to $51.0 million from $62.4 million at December 31, 2025
Expert Statements
Susan Echard, Chief Financial Officer of WM Technology
“During the third quarter, we saw decreases in revenue and Adjusted EBITDA, as well as increased cash utilization”
Susan Echard, Chief Financial Officer of WM Technology
“Revenue was primarily impacted by client payment difficulties.”
Susan Echard, Chief Financial Officer of WM Technology
“A significant portion of our operating expenses and cash spend went toward increased marketing spend, while the remainder primarily covered one-time expenses, including a securities litigation settlement and severance costs associated with our workforce reduction in the third quarter.”
Susan Echard, Chief Financial Officer of WM Technology
“We have continued to focus on collections and stepped up our efforts to terminate clients when they are late with payments.”
Susan Echard, Chief Financial Officer of WM Technology
“While this had an impact on our top line during the quarter, we made this deliberate decision with the long-term health of our business in mind.”
Susan Echard, Chief Financial Officer of WM Technology
“We expect some of the clients who churned or decreased their spend during the quarter to return because of the importance of our platform to their businesses.”
Susan Echard, Chief Financial Officer of WM Technology
“Though we continue to see softness in challenged markets like Michigan, Colorado, and Oklahoma due to heavy regulation and price compression, our marketing momentum in these regions remains strong, and we believe the revenue will follow.”
Doug Francis, Chief Executive Officer of WM Technology
“Optically, our third-quarter results reflect near-term pressures, but operationally, it was a successful quarter that we believe has laid the foundation for future growth.”
Doug Francis, Chief Executive Officer of WM Technology
“Improvements to our digital marketing strategies in the third quarter presented us with opportunities to attract more consumers to the platform, and so we meaningfully increased our user acquisition budget.”
Doug Francis, Chief Executive Officer of WM Technology
“These strategies have been successful at driving key elements of our value proposition to clients, and we believe that this will lead to revenue growth.”
Doug Francis, Chief Executive Officer of WM Technology
“Additionally, we are launching a new sponsored ad product for brands this month.”
Doug Francis, Chief Executive Officer of WM Technology
“We anticipate this product will contribute to revenue shortly after launch.”
Doug Francis, Chief Executive Officer of WM Technology
“As we look toward 2027, our corporate governance and strategic footprint are evolving to match our ambitions.”
Doug Francis, Chief Executive Officer of WM Technology
“Earlier this year, we voluntarily delisted from Nasdaq and announced our intention to deregister as an SEC reporting company.”
Doug Francis, Chief Executive Officer of WM Technology
“We expect that the transition away from public reporting will reduce our administrative overhead and compliance costs, and more importantly, grant us the operating latitude to execute our long-term strategy.”
Doug Francis, Chief Executive Officer of WM Technology
“We believe this regulatory and structural freedom will directly support our strategic expansion deeper into the cannabis supply chain.”
Doug Francis, Chief Executive Officer of WM Technology
“We are being highly disciplined and targeting best-in-class assets that we believe will generate positive cash flow at reasonable multiples.”
Doug Francis, Chief Executive Officer of WM Technology
“We have identified some potential targets who we think may fit this profile and we plan to continue to evaluate other potential strategic transactions and opportunities.”
Doug Francis, Chief Executive Officer of WM Technology
“We are playing the long game.”
Doug Francis, Chief Executive Officer of WM Technology
“We believe that the foundational work we completed in the third quarter—cleaning up our client base, optimizing our user acquisition costs, and finalizing our strategic expansion infrastructure—positions us incredibly well for the next phase of our growth.”
WM Technology, Inc. Reports Third Quarter 2026 Financial Results
WM Technology, Inc. (“WM Technology” or the “Company”) (OTC: MAPS), a leading marketplace and technology solutions provider to the cannabis industry, today announced its financial results for the third quarter ended September 30, 2026.
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