WM Technology Expects Q1 EBITDA Between $5M and $7M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 17 2026
0mins
Should l Buy MAPS?
Adjusted EBITDA is expected to be in the range of approximately $5M-$7M. Cash, Cash Equivalents, and Investments totaled approximately $57M as of March 31. "Our first quarter performance represents a solid start to the year, reflecting continued execution against our priorities and the enduring value of the Weedmaps marketplace," said Doug Francis, CEO and Chairman of WM Technology. "While we feel good about our performance, industry conditions remain challenging, which we believe limits the potential for growth of our core business in the absence of major regulatory change. As we announced last week, we plan to delist from Nasdaq, which we believe is the best strategic decision for the Company and its shareholders. Our first quarter performance shows that our business remains strong; however, we believe the optionality to expand our strategic scope is essential to the future of the Company, and our Nasdaq listing limits that optionality. We invite our shareholders to continue with us during this next phase of our Company and the industry. We remain hopeful that one day federal policy will catch up to the will of the people and permit cannabis companies to operate in a more regular way while listing on the major U.S. exchanges. We believe we are well-positioned to engage the industry, on our terms, and execute against new opportunities. Thank you to everyone who has supported us along the way, and to those continuing this journey with us." "Following our planned delisting from Nasdaq, we intend to trade on the OTCQX exchange operated by OTC Markets Group Inc. We plan to continue providing quarterly financial updates as required under SEC rules through the end of the year and plan to evaluate our go-forward reporting cadence after that," said Susan Echard, CFO of WM Technology.
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About MAPS
WM Technology, Inc. operates the online cannabis marketplace for consumers together with a set of eCommerce and compliance software solutions for cannabis businesses, which are sold to retailers and brands in the legalized cannabis markets in states and territories of the United States. The Company’s business primarily consists of its commerce-driven marketplace (Weedmaps), and its fully integrated suite of end-to-end software-as-a-service solutions software offering (Weedmaps for Business). The Weedmaps marketplace provides cannabis consumers with information regarding cannabis retailers and brands. In addition, the Weedmaps marketplace aggregates data from a variety of sources, including retailer point-of-sale solutions, to provide consumers to browse by strain, price, cannabinoids and other information regarding locally available cannabis products, through its Website and mobile apps. Its subscription package includes WM Listings, WM Orders, WM Store, WM Connectors and WM Insights.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
WM Technology Announces Preliminary Q1 2026 Results and Delisting Plans
- Revenue Expectations: WM Technology anticipates Q1 2026 revenue between $42 million and $44 million, with adjusted EBITDA projected at $5 million to $7 million, indicating stability and potential growth in its market performance.
- Cash Reserves: As of March 31, 2026, the company held approximately $57 million in cash, equivalents, and investments, providing substantial financial support for future operations and expansions, thereby enhancing its financial flexibility.
- Delisting Plans: WM Technology announced plans to delist from Nasdaq and transition to OTCQX, citing current regulatory rules and industry constraints that hinder its growth and flexibility, which may impact its market visibility and investor confidence.
- Stock Performance: The stock traded near $0.35 in after-hours, reflecting a cautious market sentiment regarding the company's future developments, which could influence investor decisions and the company's ability to raise capital.
See More
WM Technology Announces Preliminary Q1 2026 Financial Results
- Financial Overview: WM Technology anticipates Q1 2026 revenue between $42 million and $44 million, indicating a stable performance in the market despite industry challenges, which suggests resilience in its core business.
- Adjusted EBITDA Expectations: The company expects adjusted EBITDA to range from $5 million to $7 million, reflecting ongoing efforts in cost control and operational efficiency, even amidst an uncertain market environment.
- Cash Position: As of March 31, 2026, the company's cash, cash equivalents, and investments totaled approximately $57 million, providing ample financial support for future strategic expansions and enhancing its competitive position in the industry.
- Delisting Strategy: WM Technology plans to delist from Nasdaq and transition to the OTCQX exchange, with CEO Doug Francis stating that this strategic decision will offer greater flexibility for the company, which may impact liquidity in the short term but is expected to help capture new market opportunities in the long run.
See More
WM Technology Inc. Anticipates Q1 2026 Revenue Between $42 Million and $44 Million
- Revenue Expectations: The expected revenue for Q1 2026 is projected to be between $42 million and $44 million.
- Market Analysis: The figures indicate a positive outlook for the technology sector in the upcoming quarter.
See More
WM Technology Announces Voluntary Delisting from Nasdaq
- Voluntary Delisting Decision: WM Technology announced its intention to delist from Nasdaq on April 24, 2026, aiming to remove operational constraints and enhance agility and focus in the evolving cannabis industry.
- Regulatory Burden Reduction: The company plans to file Form 25 to deregister its common stock and warrants, which is expected to decrease management costs and resource consumption associated with compliance with Nasdaq and Exchange Act reporting requirements.
- Liquidity Challenges: Due to a lack of comparable companies and investor interest, WM Technology's securities have low liquidity, and after delisting, they will transition to trading on the OTC market, although this does not guarantee continued market activity.
- Long-term Strategic Adjustment: The company's board believes that delisting will facilitate long-term sustainable value creation, particularly in the unique regulatory environment of the cannabis industry, allowing WM Technology to better serve its clients and investors.
See More
WM Technology Reports 2025 Financial Highlights
- Annual Revenue Growth: WM Technology achieved $175 million in revenue for 2025, with adjusted EBITDA of $40 million, indicating stable performance despite industry challenges.
- Cash Reserves Increase: The company ended the year with $62 million in cash, marking a nearly 20% increase from the end of 2024, providing stronger financial support for future investments and operations.
- Fourth Quarter Revenue Decline: Although fourth-quarter revenue reached $43 million, it represented a 10% year-over-year decline, reflecting ongoing challenges in core markets, particularly intensified competition from illicit markets.
- Market Consolidation Response Strategy: WM Technology is focusing on enhancing product offerings and deepening relationships with large California-based clients and MSO partners to address challenges posed by market consolidation, aiming to improve market competitiveness and customer experience.
See More
WM Technology to Announce Q4 Earnings on March 12
- Earnings Announcement Schedule: WM Technology is set to release its Q4 earnings report on March 12, 2023, after market close, drawing significant attention from the market.
- Earnings Expectations: The consensus EPS estimate stands at $0.03, indicating a slight potential for growth in the company's profitability amidst challenging market conditions.
- Revenue Forecast: The projected revenue for Q4 is $42 million, reflecting an 11.9% year-over-year decline, which highlights the challenges the company faces in maintaining its market position and future growth prospects.
- Market Attention: Investors and analysts are closely monitoring WM Technology's financial performance, particularly in light of its historical earnings data and Seeking Alpha's Quant Rating, which could influence market sentiment and stock performance.
See More
WM Technology Announces Preliminary Q1 2026 Results and Delisting Plans
- Revenue Expectations: WM Technology anticipates Q1 2026 revenue between $42 million and $44 million, with adjusted EBITDA projected at $5 million to $7 million, indicating stability and potential growth in its market performance.
- Cash Reserves: As of March 31, 2026, the company held approximately $57 million in cash, equivalents, and investments, providing substantial financial support for future operations and expansions, thereby enhancing its financial flexibility.
- Delisting Plans: WM Technology announced plans to delist from Nasdaq and transition to OTCQX, citing current regulatory rules and industry constraints that hinder its growth and flexibility, which may impact its market visibility and investor confidence.
- Stock Performance: The stock traded near $0.35 in after-hours, reflecting a cautious market sentiment regarding the company's future developments, which could influence investor decisions and the company's ability to raise capital.
See More
WM Technology Announces Preliminary Q1 2026 Financial Results
- Financial Overview: WM Technology anticipates Q1 2026 revenue between $42 million and $44 million, indicating a stable performance in the market despite industry challenges, which suggests resilience in its core business.
- Adjusted EBITDA Expectations: The company expects adjusted EBITDA to range from $5 million to $7 million, reflecting ongoing efforts in cost control and operational efficiency, even amidst an uncertain market environment.
- Cash Position: As of March 31, 2026, the company's cash, cash equivalents, and investments totaled approximately $57 million, providing ample financial support for future strategic expansions and enhancing its competitive position in the industry.
- Delisting Strategy: WM Technology plans to delist from Nasdaq and transition to the OTCQX exchange, with CEO Doug Francis stating that this strategic decision will offer greater flexibility for the company, which may impact liquidity in the short term but is expected to help capture new market opportunities in the long run.
See More
WM Technology Inc. Anticipates Q1 2026 Revenue Between $42 Million and $44 Million
- Revenue Expectations: The expected revenue for Q1 2026 is projected to be between $42 million and $44 million.
- Market Analysis: The figures indicate a positive outlook for the technology sector in the upcoming quarter.
See More
WM Technology Announces Voluntary Delisting from Nasdaq
- Voluntary Delisting Decision: WM Technology announced its intention to delist from Nasdaq on April 24, 2026, aiming to remove operational constraints and enhance agility and focus in the evolving cannabis industry.
- Regulatory Burden Reduction: The company plans to file Form 25 to deregister its common stock and warrants, which is expected to decrease management costs and resource consumption associated with compliance with Nasdaq and Exchange Act reporting requirements.
- Liquidity Challenges: Due to a lack of comparable companies and investor interest, WM Technology's securities have low liquidity, and after delisting, they will transition to trading on the OTC market, although this does not guarantee continued market activity.
- Long-term Strategic Adjustment: The company's board believes that delisting will facilitate long-term sustainable value creation, particularly in the unique regulatory environment of the cannabis industry, allowing WM Technology to better serve its clients and investors.
See More
WM Technology Reports 2025 Financial Highlights
- Annual Revenue Growth: WM Technology achieved $175 million in revenue for 2025, with adjusted EBITDA of $40 million, indicating stable performance despite industry challenges.
- Cash Reserves Increase: The company ended the year with $62 million in cash, marking a nearly 20% increase from the end of 2024, providing stronger financial support for future investments and operations.
- Fourth Quarter Revenue Decline: Although fourth-quarter revenue reached $43 million, it represented a 10% year-over-year decline, reflecting ongoing challenges in core markets, particularly intensified competition from illicit markets.
- Market Consolidation Response Strategy: WM Technology is focusing on enhancing product offerings and deepening relationships with large California-based clients and MSO partners to address challenges posed by market consolidation, aiming to improve market competitiveness and customer experience.
See More
WM Technology to Announce Q4 Earnings on March 12
- Earnings Announcement Schedule: WM Technology is set to release its Q4 earnings report on March 12, 2023, after market close, drawing significant attention from the market.
- Earnings Expectations: The consensus EPS estimate stands at $0.03, indicating a slight potential for growth in the company's profitability amidst challenging market conditions.
- Revenue Forecast: The projected revenue for Q4 is $42 million, reflecting an 11.9% year-over-year decline, which highlights the challenges the company faces in maintaining its market position and future growth prospects.
- Market Attention: Investors and analysts are closely monitoring WM Technology's financial performance, particularly in light of its historical earnings data and Seeking Alpha's Quant Rating, which could influence market sentiment and stock performance.
See More
