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ProStar Holdings Announces Upsize and Closing of Non-Brokered Private Placement For Gross Proceeds of $775,000
Globenewswire· 2025-05-09 18:52
Core Viewpoint - ProStar Holdings Inc. has successfully closed a non-brokered private placement, raising gross proceeds of C$775,000 through the sale of 5,535,714 units at a price of C$0.14 per unit, with plans to use the funds to enhance sales and marketing efforts and for general working capital [1][3][4]. Group 1: Offering Details - The Offering consists of units, each comprising one common share and one warrant, with each warrant allowing the purchase of one common share at C$0.20 for 36 months [2]. - The Offering was increased from an initial target of C$750,000 to C$775,000, receiving approval from the TSX Venture Exchange [1]. - The securities issued in the Offering are subject to a hold period of four months and one day from the date of issuance [6]. Group 2: Use of Proceeds - ProStar plans to utilize the proceeds from the Offering to onboard resources aimed at ramping up sales and marketing efforts, as well as for general working capital requirements [3][4]. Group 3: Management and Participation - The CEO and Founder of ProStar expressed satisfaction with the financing, highlighting strong participation from board members and existing shareholders [4]. - Certain directors and senior officers purchased a total of 2,085,714 units as part of the Offering, which is classified as a related party transaction [5]. Group 4: Company Overview - ProStar is recognized as a leader in Precision Mapping Solutions, focusing on critical infrastructure management through its flagship product, PointMan [9][10]. - The company has developed a significant intellectual property portfolio, including 16 issued patents in the United States and Canada, aimed at enhancing the management of critical infrastructure assets [10].
WM Technology(MAPS) - 2025 Q1 - Earnings Call Transcript
2025-05-08 22:02
Financial Data and Key Metrics Changes - First quarter revenue was $44.6 million, a modest increase of $200,000 or 1% compared to the prior year period, driven by growth in standard listings and display advertising [12][15] - Net income rose to $2.5 million from $2 million in the prior year, primarily due to mark-to-market adjustments on warrants and higher interest income [15] - Adjusted EBITDA for the first quarter was $10.1 million, exceeding expectations due to slightly higher revenue and lower expenses [15][16] - Cash from operations generated was $1.3 million, with a cash balance of $53.3 million, marking the seventh consecutive quarter of cash growth [15][16] Business Line Data and Key Metrics Changes - Growth in standard listings increased by $400,000, while display advertising grew by $800,000, offset by a $1 million decline in revenue from featured and deal listings [12][13] - Average monthly paying clients increased by 5% year over year to 5,179, but average monthly revenue per paying client declined to $2,871 from $2,997 [13] Market Data and Key Metrics Changes - Mature markets continue to show decreasing retail prices, leading to reduced cash flow for clients and impacting their ability to purchase services [8] - Emerging markets, while showing potential, remain subscale and do not compensate for challenges in mature markets [8] Company Strategy and Development Direction - The company is focused on disciplined execution, maintaining a lean cost structure, and driving ROI-driven investments [9] - Significant progress has been made in technology and product development, including improvements in data infrastructure and automation [10] - The marketing organization has been restructured to reconnect with the brand's heritage in the cannabis culture [10] Management's Comments on Operating Environment and Future Outlook - The regulatory environment remains challenging, with over-taxation and competition from unregulated hemp impacting the cannabis industry [5][6] - Management expresses cautious optimism about potential federal legalization, noting that a significant majority of Americans support it [7] - The company expects revenues for the second quarter to be approximately $45 million, with non-GAAP adjusted EBITDA estimated at $8 million [16] Other Important Information - GAAP operating expenses totaled $42 million, reflecting a 3% increase over the prior year, driven by higher general and administrative expenses [14] - The increase in G&A expenses included $2 million of non-recurring charges related to legal expenses and severance [14] - The company has no debt on its balance sheet, allowing for strategic investments despite ongoing industry challenges [15][16] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session.
WM Technology(MAPS) - 2025 Q1 - Earnings Call Transcript
2025-05-08 22:00
Financial Data and Key Metrics Changes - First quarter revenue was $44.6 million, a modest increase of $200,000 or 1% compared to $44.4 million in the prior year period, driven by growth in standard listings and display advertising [11][12] - Net income rose to $2.5 million from $2 million in the prior year, primarily due to mark-to-market adjustments on warrants and higher interest income [14] - Adjusted EBITDA for the first quarter was $10.1 million, exceeding expectations due to higher-than-expected revenue and lower-than-anticipated expenses [14] Business Line Data and Key Metrics Changes - Growth in standard listings increased by $400,000, while display advertising grew by $800,000, offset by a $1 million decline in revenue from featured and deal listings [11][12] - Average monthly paying clients increased by 5% year over year to 5,179, but average monthly revenue per paying client declined to $2,871 from $2,997, reflecting spending pullbacks in mature markets [12][13] Market Data and Key Metrics Changes - The cannabis industry continues to face challenges from over-taxation and competition from unregulated hemp, leading to decreased retail prices in mature markets [5][7] - Emerging markets show potential but remain subscale in the overall industry picture, with their growth not compensating for challenges in mature markets [7] Company Strategy and Development Direction - The company is focused on disciplined execution, maintaining a lean cost structure, and driving ROI-driven investments while generating cash [8] - Significant progress has been made in technology and product development, including improvements in data infrastructure and automation, as well as enhancements to the product catalog [9] - The marketing organization has been restructured to reconnect with the brand's heritage in the cannabis culture and community [9][10] Management's Comments on Operating Environment and Future Outlook - The regulatory environment remains unchanged, with no relief in sight regarding federal regulation around taxes, banking, or rescheduling [5][6] - Management remains hopeful for future movement towards federal legalization, as polling indicates strong public support [6][7] - The company expects revenues for the second quarter to be approximately $45 million, with non-GAAP adjusted EBITDA estimated at approximately $8 million [15][16] Other Important Information - GAAP operating expenses totaled $42 million, reflecting a 3% increase over the prior year, driven by higher general and administrative expenses [13] - The company ended the first quarter with a cash balance of $53.3 million, marking the seventh consecutive quarter of cash growth [14] Q&A Session Summary Question: What are the expectations for revenue growth in the upcoming quarters? - The company expects revenues for the second quarter to be approximately $45 million, indicating a cautious but positive outlook for growth [15] Question: How is the company addressing the challenges in the cannabis industry? - The company is maintaining a disciplined approach, focusing on cost management and strategic investments to navigate ongoing industry challenges [8][10]
WM Technology(MAPS) - 2025 Q1 - Earnings Call Presentation
2025-05-08 21:19
WM Technology, Inc. Q1 2025 Results Disclaimer This presentation is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to WM Technology, Inc. ("WM", the "Company", "we", "us", "our") and for no other purpose. References in this presentation to the "10- Q" refer to the Quarterly Report on Form 10-Q for the period ended March 31, 2025 to be filed with the Securities and Exchange Commission (the "SEC"). No representations or w ...
WM Technology(MAPS) - 2025 Q1 - Quarterly Report
2025-05-08 20:41
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________________ FORM 10-Q _______________________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition per ...
WM Technology(MAPS) - 2025 Q1 - Quarterly Results
2025-05-08 20:35
Exhibit 99.1 WM Technology, Inc. Reports First Quarter 2025 Financial Results Q1 2025 Net Income was $2.5 million, an Increase of 27% year-over-year Tenth Consecutive Quarter of Adjusted EBITDA Profitability IRVINE, Calif.--(BUSINESS WIRE)--May 8, 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 first quarter ended March 31, 2025. "Our first quarter res ...
ProStar Holdings Announces Non-Brokered Private Placement
Globenewswire· 2025-05-05 21:13
Core Viewpoint - ProStar Holdings Inc. is conducting a non-brokered private placement to raise gross proceeds of up to C$750,000 [1] Group 1: Offering Details - The Offering will consist of up to 5,357,143 units priced at C$0.14 per Unit, each Unit includes one common share and one warrant [2] - Each warrant allows the holder to acquire one common share at C$0.20 for 36 months, with an acceleration clause if the share price exceeds C$0.30 for ten consecutive trading days [2] - ProStar plans to use the proceeds for sales, marketing, and working capital [3] Group 2: Participation and Regulatory Aspects - Directors and officers of ProStar will participate in the Offering, which is considered a related party transaction but is exempt from formal valuation and minority shareholder approval [4] - The securities issued will have a hold period of 4 months and one day, and the Offering is subject to regulatory approval from the TSX Venture Exchange [5] Group 3: Company Overview - ProStar is a leader in Precision Mapping Solutions, integrating modern GPS, cloud, and mobile technologies [7] - The flagship product, PointMan, enhances workflow processes for managing critical infrastructure assets [8] - ProStar has a significant intellectual property portfolio, including several patents in the U.S. and Canada [9]
WM Technology: Speculative Upside With Or Without Take-Private Offer
Seeking Alpha· 2025-04-28 03:25
Company Overview - WM Technology, Inc. operates an online marketplace and data aggregator specifically for the cannabis industry, known as Weedmaps, which facilitates education and compliant transactions for users and vendors [1]. Market Position - The platform allows users to learn about cannabis products while enabling vendors to sell their products in a compliant manner, indicating a strong positioning within the cannabis market [1].
ProStar and Pix4D Partner to Provide Precision 3D Augmented Reality of Critical Underground Infrastructure Worldwide
Globenewswire· 2025-04-09 12:02
Core Insights - ProStar Holdings Inc. has formed a strategic partnership with Pix4D to enhance its Precision Mapping Solutions, integrating ProStar's PointMan with Pix4D's 3D modeling technology for improved underground infrastructure management [1][4]. Company Overview - ProStar is a leading software company specializing in cloud and mobile mapping solutions for critical infrastructure, with its flagship product, PointMan, designed to manage above- and below-ground assets [6][7]. - Pix4D, based in Switzerland, develops end-to-end mapping solutions that utilize advanced algorithms for creating survey-grade georeferenced maps and models [5]. Partnership Details - The collaboration aims to deliver a user-friendly mobile solution that allows professionals in construction, engineering, and utilities to visualize and manage buried infrastructure with high accuracy and efficiency [2][4]. - The integration of PointMan and Pix4D's technology is expected to enhance operational efficiency, reduce risks, and improve safety for organizations globally [4]. Technological Advancements - The combined technologies will provide a mobile-friendly solution that offers real-time 3D mapping capabilities, enabling users to visualize subsurface assets directly from their smartphones [2][4]. - ProStar's strategy includes forming alliances with industry leaders to create a powerful and cost-effective precision mapping solution, leveraging partners' distribution networks [3].
ProStar Announces Global Commercial Strategy with Radiodetection to Deliver Precision Utility Mapping
Globenewswire· 2025-04-08 12:00
Core Viewpoint - ProStar Holdings Inc. has announced a strategic collaboration with Radiodetection to enhance the global critical buried infrastructure industry through integrated mapping solutions [1][2]. Group 1: Strategic Collaboration - The partnership combines Radiodetection's RD82 series locating devices with ProStar's PointMan, creating a comprehensive solution for utility locating [1][3]. - This collaboration aims to simplify operations, reduce costs, and enhance workflows in the construction industry by utilizing high-precision geospatial data [2][4]. Group 2: Product Integration - Radiodetection will market ProStar's PointMan as the preferred mapping solution for its utility locating equipment, including the RD8200SG with integrated RTK technology [3][4]. - The integration allows field crews to build high-precision digital maps of underground infrastructure in real-time, significantly reducing the complexity and time associated with traditional mapping methods [4][5]. Group 3: Industry Impact - The collaboration addresses the global issue of utility location, which is critical for public and environmental safety, aligning with both companies' missions to enhance safety protocols and reduce risks [5][6]. - ProStar's CEO emphasized that this partnership will accelerate global reach and adoption across multiple industry sectors [5][8].