Cannabis marketplace firm WM Technology Q2 revenue misses estimates
Overview
WM Technology Q2 rev declines yr/yr and misses analyst expectations, per LSEG data
Net income for Q2 rises 81% yr/yr
Co's cash increased to $59 mln
Outlook
WM Technology estimates Q3 2025 revenue at $41 mln - $43 mln
Company expects Q3 2025 Adjusted EBITDA of $5 mln - $7 mln
Result Drivers
REVENUE DECLINE - Revenue decreased due to lower sales from Weedmaps for Business and featured listings, partially offset by other ad solutions
CLIENT GROWTH - Increase in average monthly paying clients driven by new client acquisitions in emerging markets
SPENDING DECLINE - Average monthly revenue per client fell due to spending declines in established markets and lower spend from new clients
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $44.85 mln | $45 mln (2 Analysts) |
Q2 Net Income |
| $2.16 mln |
|
Q2 Pretax Profit |
| $2.16 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for WM Technology Inc is $2.61, about 63.5% above its August 6 closing price of $0.95
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 15 three months ago
Press Release: ID:nBwDNDQ1a
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