WM Technology Voluntarily Delists from Nasdaq
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 07 2026
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Should l Buy MAPS?
WM Technology announced its decision to voluntarily delist its Class A common stock and warrants from Nasdaq. The company intends to file a Form 25 with the SEC to delist its Class A common stock and warrants from Nasdaq and to deregister its Class A common stock and warrants under Section 12 of the Securities Exchange Act of 1934, as amended, on or about April 17 and as a result, the company expects that the last trading day of its Class A common stock and warrants on Nasdaq will be on or about April 24. Once permitted, the company expects to file a Form 15 with the SEC to deregister its Class A common stock and warrants under the Exchange Act and suspend the company's duty to file any reports required under Section 13 and 15 of the Exchange Act.
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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 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 Appoints New Board Members
- New Board Members: WM Technology announced the appointment of Harry DeMott and Brent Cox to its Board of Directors effective February 1, 2026, both bringing extensive experience in the cannabis and technology sectors, which is expected to provide strategic guidance for the company's growth in a highly regulated market.
- CFO Transition: Susan Echard will officially transition to Chief Financial Officer on January 30, 2026, ending her contracted arrangement, which is anticipated to enhance financial stability and consistency in the company's management.
- Rich Industry Experience: Harry DeMott, former CEO of Proper, and Brent Cox, founder of Subtext Holdings, both possess deep backgrounds in capital markets and technology, which will strengthen WM Technology's competitive edge in the cannabis market.
- Market Positioning Enhancement: By introducing new board members, WM Technology aims to further solidify its Weedmaps marketplace position, drive ongoing development in the cannabis industry, and reinforce its advocacy for safe and legal consumer access.
See More
WM Technology Appoints New Board Members
- New Board Members: WM Technology appointed Harry DeMott and Brent Cox to its board of directors effective February 1, 2026, aiming to enhance governance and decision-making efficiency through diverse perspectives and experiences.
- CFO Transition: Susan Echard will transition to a full-time Chief Financial Officer on January 30, 2026, which is expected to stabilize financial management and strategic planning, thereby supporting WM Technology's long-term growth objectives.
- Revenue Target Setting: WM Technology has set a revenue target of $41 million to $43 million for Q4 2025, demonstrating confidence in future performance despite ongoing market pressures, indicating a proactive approach to market dynamics.
- Market Environment Challenges: In the current market landscape, WM Technology must effectively navigate various pressures to achieve its revenue targets while maintaining competitive advantages and attracting investor interest.
See More
WM Technology Appoints New Board Members
- New Board Members: WM Technology announced the appointment of Harry DeMott and Brent Cox to its Board of Directors effective February 1, 2026, both bringing extensive experience in the cannabis and technology sectors, which will provide strategic guidance to help the company thrive in a highly regulated market.
- CFO Transition: Susan Echard will transition from a contracted role to Chief Financial Officer of WM Technology effective January 30, 2026, ensuring stability and continuity in financial management, thereby enhancing the company's governance structure.
- Rich Industry Experience: DeMott is a General Partner at Raptor Ventures and previously founded Proper, a data company focused on cannabis, while Cox is the founder of Subtext Holdings, both leveraging their capital markets experience to drive WM Technology's growth.
- Market Leadership: Since its founding in 2008, WM Technology has become the premier platform for consumers to discover and browse cannabis-related products, and it will continue to advocate for full U.S. legalization and industry-wide social equity.
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 Appoints New Board Members
- New Board Members: WM Technology announced the appointment of Harry DeMott and Brent Cox to its Board of Directors effective February 1, 2026, both bringing extensive experience in the cannabis and technology sectors, which is expected to provide strategic guidance for the company's growth in a highly regulated market.
- CFO Transition: Susan Echard will officially transition to Chief Financial Officer on January 30, 2026, ending her contracted arrangement, which is anticipated to enhance financial stability and consistency in the company's management.
- Rich Industry Experience: Harry DeMott, former CEO of Proper, and Brent Cox, founder of Subtext Holdings, both possess deep backgrounds in capital markets and technology, which will strengthen WM Technology's competitive edge in the cannabis market.
- Market Positioning Enhancement: By introducing new board members, WM Technology aims to further solidify its Weedmaps marketplace position, drive ongoing development in the cannabis industry, and reinforce its advocacy for safe and legal consumer access.
See More
WM Technology Appoints New Board Members
- New Board Members: WM Technology appointed Harry DeMott and Brent Cox to its board of directors effective February 1, 2026, aiming to enhance governance and decision-making efficiency through diverse perspectives and experiences.
- CFO Transition: Susan Echard will transition to a full-time Chief Financial Officer on January 30, 2026, which is expected to stabilize financial management and strategic planning, thereby supporting WM Technology's long-term growth objectives.
- Revenue Target Setting: WM Technology has set a revenue target of $41 million to $43 million for Q4 2025, demonstrating confidence in future performance despite ongoing market pressures, indicating a proactive approach to market dynamics.
- Market Environment Challenges: In the current market landscape, WM Technology must effectively navigate various pressures to achieve its revenue targets while maintaining competitive advantages and attracting investor interest.
See More
WM Technology Appoints New Board Members
- New Board Members: WM Technology announced the appointment of Harry DeMott and Brent Cox to its Board of Directors effective February 1, 2026, both bringing extensive experience in the cannabis and technology sectors, which will provide strategic guidance to help the company thrive in a highly regulated market.
- CFO Transition: Susan Echard will transition from a contracted role to Chief Financial Officer of WM Technology effective January 30, 2026, ensuring stability and continuity in financial management, thereby enhancing the company's governance structure.
- Rich Industry Experience: DeMott is a General Partner at Raptor Ventures and previously founded Proper, a data company focused on cannabis, while Cox is the founder of Subtext Holdings, both leveraging their capital markets experience to drive WM Technology's growth.
- Market Leadership: Since its founding in 2008, WM Technology has become the premier platform for consumers to discover and browse cannabis-related products, and it will continue to advocate for full U.S. legalization and industry-wide social equity.
See More
