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]

Financial Performance - Revenues for Q3 2025 were $42.2 million, down from $46.6 million in the prior year, reflecting ongoing challenges in core markets[6] - Net income for Q3 2025 was $3.6 million, a decrease from $5.3 million in the prior year[6] - Adjusted EBITDA fell to $7.6 million from $11.3 million in the prior year[6] - Operating income for the three months ended September 30, 2025, was $1,959,000, down 62.3% from $5,204,000 in the prior year[24] - Net income attributable to WM Technology, Inc. for the three months ended September 30, 2025, was $2,460,000, a decrease of 26.1% from $3,332,000 in the same period of 2024[24] - Adjusted EBITDA for the nine months ended September 30, 2025, was $29,421,000, compared to $31,001,000 for the same period in 2024, reflecting a decline of 5.1%[27] Client Metrics - Average monthly paying clients increased to 5,221 from 5,100 in the prior year, driven by new client acquisitions in developing markets[6] - Average monthly revenues per paying client decreased to $2,693 from $3,043 in the prior year, due to spending declines in established markets[6] Cash and Assets - Cash increased to $62.6 million as of September 30, 2025, compared to $52.0 million as of December 31, 2024[6] - Cash and cash equivalents at the end of the period were $62,591,000, an increase of 20.5% from $51,966,000 at the beginning of the period[26] - Total assets increased to $192,911,000 as of September 30, 2025, up from $181,866,000 at December 31, 2024, representing a growth of 6.1%[22] Liabilities - Total liabilities decreased to $57,553,000 as of September 30, 2025, down from $61,799,000 at December 31, 2024, a reduction of 6.5%[22] Operational Guidance - The company issued guidance for Q4 2025, estimating revenue between $41 million and $43 million[14] - Non-GAAP Adjusted EBITDA for Q4 2025 is estimated to be between $5 million and $7 million[14] - The company remains focused on cost discipline and operational efficiency to navigate industry pressures[2] Strategic Initiatives - The company is committed to developing new products and solutions to enhance its platform and expand its market presence[13] Shareholder Information - The weighted average diluted shares outstanding increased to 109,112,744 for the three months ended September 30, 2025, compared to 97,811,251 for the same period in 2024[24] Other Financial Changes - The company reported a net cash provided by operating activities of $23,142,000 for the nine months ended September 30, 2025, compared to $27,275,000 for the same period in 2024[26] - The company experienced a change in fair value of warrant liability resulting in a loss of $390,000 for the three months ended September 30, 2025[24]

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]

Core Insights - ProStar Holdings Inc. has formed a global distribution partnership with Bad Elf, LLC to bundle ProStar's PointMan software with Bad Elf's high-precision GNSS receivers for worldwide sales [1][2][3] Company Overview - ProStar is a leading provider of geospatial intelligence technologies, aiming to become the global standard for mapping and managing critical infrastructure [6] - The company's flagship products, PointMan and LinQD, enhance infrastructure mapping and management by providing accurate, accessible, and connected solutions [7] - ProStar has a growing global customer base that includes Fortune 500 corporations, leading construction and engineering firms, utilities, municipalities, and U.S. Departments of Transportation [8] - The company holds an extensive intellectual property portfolio with 16 issued patents in the United States and Canada, reinforcing its leadership in precision mapping technologies [9] Partnership Details - The partnership with Bad Elf addresses the increasing demand for complete mapping solutions in the utility and critical infrastructure sectors [2] - By combining Bad Elf's advanced GNSS receivers with ProStar's precision mapping solution, the collaboration aims to provide a cost-effective and comprehensive mapping solution for utility owners, contractors, municipalities, and engineering firms [2][3] - This collaboration is expected to broaden ProStar's reach to tens of thousands of potential customers through a global distribution network [4]

Core Insights - ProStar Holdings Inc. has launched LinQD™, a next-generation open API data exchange platform aimed at improving the management of critical infrastructure [1][4] - LinQD™ integrates fragmented systems into a single cloud-based platform, enhancing interoperability and efficiency by combining legacy systems with emerging technologies like AI and AR [3][4] - The platform aims to eliminate data silos, providing stakeholders with instant access to improved geospatial intelligence and mission-critical data [3][4] Company Overview - ProStar Geocorp is a leading provider of geospatial intelligence technologies, focusing on mapping and managing critical infrastructure through its Software-as-a-Service (SaaS) solutions [6][8] - The company has a growing global customer base, including Fortune 500 companies, construction firms, utilities, and government agencies, and has established strategic alliances with global technology leaders [8] - ProStar holds an extensive intellectual property portfolio with 16 issued patents in the United States and Canada, reinforcing its leadership in precision mapping technologies [8] Product Features - LinQD™ with PointMan provides quantitative data from multiple sources, enabling informed decision-making for engineers, construction crews, and asset owners [5] - The platform allows for real-time data exchange across a unified technology ecosystem, creating new revenue channels through strategic partner integrations and enterprise subscriptions [5][7] - ProStar's flagship products streamline the management of both above-ground and subsurface infrastructure, reducing risk and improving efficiency in complex environments [7]

Core Insights - A portion of the investment portfolio is allocated to companies categorized as "higher risk" [1] Group 1 - The investment strategy includes a specific allocation towards higher risk companies [1]

Core Insights - Cannabis stocks experienced a significant surge following President Trump's endorsement of CBD's health benefits for seniors, suggesting potential Medicare coverage and a transformative impact on senior healthcare [1][2]. Industry Overview - The market interpreted Trump's video as a tacit approval of CBD and possibly cannabis, with bipartisan support for federal-level cannabis legalization, indicating a strategic move for the president ahead of the midterm elections [2]. Company Analysis: WM Technology (MAPS) - WM Technology operates Weedmaps, a consumer platform for cannabis products, and Weedmaps for Business, a B2B software solution, generating revenue primarily from monthly subscriptions [5][6]. - MAPS stock rose approximately 17% post-video release but faced resistance at $1.35, with a potential retest at $1.25 expected [6]. - The company's revenue peaked at $215.5 million in 2022 but has since declined to $184.5 million, with profits projected to be lower in 2024 compared to 2020 [7]. - Despite the decline, WM Technology maintains a rising net cash balance and profitability, distinguishing it from other cannabis stocks that are cash-burning [7]. - Only one analyst covers MAPS stock, with a price target exceeding twice the current price [8].

Financial Performance - WM Technology, Inc. reported Q2 2025 sales of $44.8 million, a slight decrease from $45.9 million in the previous year, attributed to lower revenues from Weedmaps for Business and featured listings, partially offset by increased ad solution revenues [1] - Adjusted EBITDA increased by 16% to $11.7 million, while net income surged by 81% to $2.2 million [1] - The average monthly revenue per client decreased from $3,033 to $2,852, but the average number of monthly paying clients rose from 5,045 to 5,241 [1] - Cash reserves grew to $59 million, with no debt on the balance sheet [1] Future Projections - Adjusted EBITDA is expected to be between $5 million and $7 million for the upcoming quarter [1] - Q3 sales projections are estimated to be between $41 million and $43 million [1] Strategic Insights - CEO Doug Francis highlighted growth from emerging market clients and emphasized solid cash flow and effective execution despite challenging cannabis market conditions [2] - The company maintains capital flexibility and a debt-free status, balancing investment and cost control to position itself for long-term growth amid industry consolidation and price deflation [2] - WM Technology, Inc. is recognized as one of the best marijuana stocks to buy according to analysts [2]

Group 1 - Alan Brochstein is a pioneer in the cannabis investment sector, having focused exclusively on this industry since 2007 [1] - He founded AB Analytical Services to provide independent consulting to registered investment advisors [1] - Brochstein is the managing partner of New Cannabis Ventures, which has been a key provider of financial information in the cannabis industry since 2015 [1] Group 2 - Alan has led the investing group 420 Investor since 2013, which focuses on publicly-traded cannabis stocks [2] - The group covers 20 stocks, providing investment news, earnings report previews, and post-report analyses [2] - Additional features of the group include a model portfolio, 10 weekly videos with chart analysis, 3 weekly summary pieces, a monthly newsletter, and a chat for questions [2]