The cannabis sector as a whole is seeing strong upside today, with investors in a broad range of stocks hitting the bid. That's because a very critical piece of news came across the tape last week: that President Trump is reportedly looking to reclassify marijuana. Doing so would allow for greater medical research and expand the use cases currently provided for by law. With many marijuana experts cheering this news, as it would be a first step toward legalization (as other major developed countries have d ...

Core Insights - ProStar Holdings Inc. has announced a strategic partnership with Tersus GNSS to deliver a complete precision mapping solution for the utility and critical infrastructure industries globally [1][2][3] Group 1: Partnership Details - The collaboration aims to integrate Tersus's survey-grade GNSS receivers with ProStar's PointMan, providing an affordable and field-ready solution through Tersus's international distribution network [2] - Tersus GNSS is recognized for its innovation in GNSS receiver and base station technology, with operations in China, the United States, and Australia [2] Group 2: Strategic Goals - This partnership is part of ProStar's strategy to expand its ecosystem of partnerships via the LinQD open API integration platform, enhancing interoperability between emerging technologies and legacy systems [3] - ProStar aims to establish PointMan as the de facto standard in precision mapping by uniting leading equipment manufacturers and service providers [4] Group 3: Company Background - ProStar Geocorp is focused on becoming the global standard for mapping and managing critical infrastructure, offering a Software-as-a-Service (SaaS) solution and an enterprise integration platform [6][7] - The company's flagship products, PointMan and LinQD, enhance the accuracy and connectivity of infrastructure mapping and management [7] Group 4: Market Position and Growth - ProStar's customer base includes Fortune 500 corporations, leading construction and engineering firms, utilities, municipalities, and U.S. Departments of Transportation, indicating a strong market presence [8] - The company holds 16 issued patents in the United States and Canada, securing its leadership position in precision mapping technologies [9]

Core Insights - ProStar Holdings Inc. has announced that GroundBreakers, LLC has adopted its PointMan Precision Mapping Solutions to enhance digital transformation and operational efficiency [1][3] - The critical infrastructure industry is shifting from outdated paper-based processes to data-driven operations, with ProStar's technologies leading this transition [2][6] - GroundBreakers aims to leverage ProStar's solutions for technological advancement and national expansion [3] Company Overview - GroundBreakers is a veteran and women-owned utility management services company based in Indianapolis, specializing in hydro-excavation, jetting, CCTV, and private locating, operating in four Midwestern states [4] - ProStar Geocorp is a provider of geospatial intelligence technologies, focusing on mapping and managing critical infrastructure through its SaaS solutions [5][6] - ProStar's flagship products, PointMan and LinQD, enhance infrastructure mapping accuracy and connectivity, reducing risks and improving efficiencies [6][7] Industry Trends - The critical infrastructure sector is increasingly adopting advanced technologies to improve accuracy, safety, and efficiency in planning, building, and maintaining infrastructure [2] - The transition to digital operations is seen as a major industry shift, with companies like GroundBreakers leading the way [3][6] - ProStar's strategic alliances with global technology leaders are enhancing its competitive advantage and accelerating the adoption of its solutions [7][8]

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Core Viewpoint - WM Technology, Inc. held its Third Quarter 2025 Earnings Conference Call on November 6, 2025, to discuss financial results and future outlook [1][4]. Financial Performance - The earnings announcement and supporting slide deck are available on the Investor Relations website for stakeholders to review [3]. - The company will discuss both GAAP and non-GAAP financial measures during the call, emphasizing that non-GAAP measures should complement, not replace, GAAP information [4]. Leadership Involvement - The call featured key executives, including CEO Doug Francis and CFO Susan Echard, indicating a strong leadership presence in discussing the company's performance [2]. Forward-Looking Statements - The company will make forward-looking statements regarding business outlook, strategies, and long-term goals, while cautioning that these statements are subject to various risks and uncertainties [3].

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $42.2 million, down 9% year-over-year, but in line with expectations, reflecting continued softness across core markets [12] - Average monthly revenue per paying client decreased by 12% year-over-year to $2,693, primarily due to overall revenue softness and a shift towards newer clients with lower spend levels [13] - Net income for the quarter was $3.6 million, with adjusted EBITDA of $7.6 million, demonstrating profitability amid a softer revenue environment [14] - Cash at the end of the quarter was $62.6 million, up 39% year-over-year, marking the ninth consecutive quarter of positive cash generation [14] Business Line Data and Key Metrics Changes - Revenue across all product categories declined year-over-year, with the majority of the decrease driven by featured and deal listings, which are typically the first areas clients scale back when budgets tighten [12] - Average monthly paying clients increased by 2% year-over-year to 5,221, reflecting continued client acquisition in developing markets, partially offset by churn in more mature states [12] Market Data and Key Metrics Changes - Average retail flower prices in California are down roughly 9% year-over-year, and more than 20% in Michigan, indicating significant price and margin compression in key markets [5] - Michigan has introduced a wholesale excise tax of 24% on top of existing taxes, exacerbating the challenges faced by the cannabis industry [6] Company Strategy and Development Direction - The company is being increasingly selective in aligning with clients for long-term prospects, sometimes foregoing near-term revenue to improve future opportunities [7] - The company is focusing on developing its brand offerings to better align with the state of the industry and is prioritizing growth with multi-state operators (MSOs) [10] - The company aims to balance near-term execution with long-term opportunities, especially in anticipation of potential federal regulatory changes [10] Management's Comments on Operating Environment and Future Outlook - Management noted that the cannabis industry is facing significant regulatory challenges and market pressures, which may lead to continued industry consolidation [6] - Despite the challenges, management believes that underlying demand and consumer adoption trends remain strong, presenting opportunities for the company to shape the legal cannabis economy [11] - The company expects revenue for Q4 2025 to be between $41 million and $43 million, reflecting ongoing pressure in mature markets and planned investments in key initiatives [15] Other Important Information - The company operates with no debt, providing flexibility to navigate near-term market volatility while investing in strategic initiatives [14] - The company has a strong focus on expense discipline and operational efficiency, which has allowed it to remain profitable despite revenue challenges [14] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session.

Financial Performance - Revenues for Q3 2025 were $42.2 million, down from $46.6 million in the prior year, representing a decrease of approximately 9.5%[205] - Net income for Q3 2025 was $3.6 million, down from $5.3 million in Q3 2024, a decrease of approximately 32.1%[218] - Adjusted EBITDA for Q3 2025 was $7.6 million, compared to $11.3 million in Q3 2024, reflecting a decrease of approximately 32.8%[205] - Total revenue for the nine months ended September 30, 2025 was $131.6 million, compared to $136.8 million for the same period in 2024, a decrease of approximately 3.5%[208] - The decrease in net income for the nine months ended September 30, 2025 was primarily due to a revenue decline of $5.2 million[219] - Revenues for the three months ended September 30, 2025, decreased by $4.4 million or 9% to $42.2 million compared to $46.6 million in the same period of 2024, primarily due to declines in Featured Listing and WM Deal products[253] - For the nine months ended September 30, 2025, revenues decreased by $5.2 million or 4% to $131.6 million compared to $136.8 million in the same period of 2024, driven by a $6.0 million decrease in Featured Listing and WM Deal products[264] Client Metrics - Average monthly paying clients increased by 2% to 5,221 in Q3 2025 from 5,100 in Q3 2024[213] - The average monthly revenues per paying client decreased to $2,693 in Q3 2025 from $3,043 in Q3 2024, a decline of approximately 11.5%[211] - The average monthly paying clients for the nine months ended September 30, 2025 increased by 4% to 5,214 from 5,027 in the same period in 2024[215] Expenses and Costs - Total costs and expenses for the three months ended September 30, 2025, were $40.2 million, a decrease of $1.1 million or 3% from $41.3 million in the same period of 2024[255] - General and administrative expenses increased by $1.3 million or 8% to $17.8 million for the three months ended September 30, 2025, compared to $16.5 million in 2024[259] - Operating income for the three months ended September 30, 2025, was $2.0 million, a decrease of $3.2 million or 62% from $5.2 million in the same period of 2024[253] - General and administrative expenses increased by $1.1 million in salaries and wages, $0.7 million in stock-based compensation, and $2.9 million in provision for credit losses for the nine months ended September 30, 2025 compared to the same period in 2024[271] - Depreciation and amortization expenses rose by $0.2 million primarily due to capitalized software development for the nine months ended September 30, 2025 compared to the same period in 2024[272] Cash Flow and Liquidity - Cash increased to $62.6 million as of September 30, 2025, up from $52.0 million as of December 31, 2024, indicating improved liquidity[277] - Net cash provided by operating activities was $23.1 million for the nine months ended September 30, 2025, down from $27.3 million for the same period in 2024[279] - Net cash used in investing activities was $9.4 million for the nine months ended September 30, 2025, consistent with $9.5 million for the same period in 2024[285] - Net cash outflows from financing activities decreased to $3.2 million for the nine months ended September 30, 2025, compared to $7.1 million for the same period in 2024[287] - The company expects existing cash and cash generated from operations to be sufficient to meet anticipated cash needs for at least the next 12 months[277] Market and Strategic Outlook - The company plans to continue investments in brand awareness and market expansion to capitalize on growth opportunities[204] - The cannabis market is expected to grow as more jurisdictions legalize cannabis, with 40 states currently allowing some form of cannabis use[229] - Selling and marketing expenses are expected to increase in line with revenue growth, although fluctuations may occur during market entry[242] - General and administrative expenses are anticipated to decline as a percentage of revenue as the company scales its operations[244] - The company faces competition from both cannabis-focused and general marketplaces, which is expected to intensify as the market matures[232] - The cost of revenues is expected to increase in absolute terms but remain relatively flat as a percentage of revenue as the business scales[241] - The company intends to continue making focused investments to support revenue growth and operational scaling[236] - The cannabis industry may experience increased seasonality in sales due to specific industry holidays, which could impact future revenue generation[275][276] Other Financial Metrics - The change in fair value of warrant liability resulted in a loss of $0.4 million for the three months ended September 30, 2025, compared to a gain of $0.6 million in 2024[261] - Other income (expense), net increased by $3.4 million, primarily due to a $1.0 million rise in net interest income and a $1.9 million change in TRA liability for the nine months ended September 30, 2025 compared to the same period in 2024[273] - Provision for income taxes decreased by 69% to $22,000 for the nine months ended September 30, 2025 compared to $72,000 for the same period in 2024[274] - Product development expenses decreased by $3.1 million or 32% to $6.4 million for the three months ended September 30, 2025, compared to $9.5 million in 2024[258] - Sales and marketing expenses increased by $1.1 million or 11% to $10.8 million for the three months ended September 30, 2025, compared to $9.7 million in 2024[257]

Irvine, Calif.--(BUSINESS WIRE)--November 6, 2025-- WM Technology, Inc. ("WM Technology" or the "Company") (Nasdaq: MAPS), a leading marketplace and technology solutions provider to the cannabis industry, today announced its financial results for the third quarter ended September 30, 2025. "Our third-quarter results reflect disciplined execution in a challenging market. While conditions across our core states remain pressured, we continue to focus on delivering value to our clients and strengthening our mar ...

WM Technology, Inc. Q2 2025 Results August 7, 2025 Financial Information; Non-GAAP Financial Measures Our financial statements, including net income, are prepared in accordance with principles generally accepted in the United States of America ("GAAP"). To provide investors with additional information regarding our financial results, we have disclosed EBITDA and Adjusted EBITDA, both of which are non-GAAP financial measures that we calculate as net income before interest, taxes and depreciation and amortiza ...

Core Insights - ProStar Holdings Inc. has formed a strategic alliance with Premium Positioning to enhance high-precision positioning services across multiple regions including Europe, Latin America, North America, and Australia [1][2][3] Group 1: Partnership Details - The alliance integrates Premium Positioning's RTK Premium multi-network service with ProStar's PointMan and LinQD platforms, creating a unified precision mapping and data exchange ecosystem for the infrastructure and utility sectors [2][3] - This partnership aims to provide real-time, high-accuracy location intelligence, facilitating seamless data capture, mapping, and visualization for critical infrastructure [2][3] Group 2: Company Profiles - Premium Positioning is recognized for delivering high-precision GNSS correction services through its RTK Premium platform, which operates across Europe, North America, and Australia, ensuring centimeter-accurate positioning [4][5] - ProStar Geocorp is a leading provider of geospatial intelligence technologies, focusing on mapping and managing critical infrastructure through its SaaS solutions and enterprise integration platform [6][7] Group 3: Strategic Goals - The integration of Premium Positioning's technology into ProStar's platform is expected to expand ProStar's global reach and enhance its ability to deliver precision mapping solutions [3][8] - The partnership aligns with ProStar's mission to create a digitally connected platform that improves the installation and management of critical infrastructure [3][6]