Financial Performance - Revenues for fiscal year 2024 were $184.5 million, a decrease from $188.0 million in the prior year[309]. - Net income for fiscal year 2024 was $12.2 million, compared to a net loss of $15.7 million in the prior year, representing an increase of $27.9 million[326]. - Adjusted EBITDA for fiscal year 2024 was $42.9 million, compared to $36.9 million in the prior year[309]. - Operating income for 2024 was $14.7 million (8.0% of revenue), compared to an operating loss of $18.5 million (-9.8% of revenue) in 2023[358]. - Net income attributable to WM Technology, Inc. for 2024 was $7.6 million (4.1% of revenue), a significant improvement from a net loss of $9.9 million (-5.3% of revenue) in 2023[358]. - Revenues for the year ended December 31, 2024, were $184.5 million, a decrease of $3.5 million or 2% compared to $187.9 million in 2023[359]. Client Metrics - Average monthly paying clients decreased by approximately 6% to 5,077 from 5,419 in the prior year[324]. - The decrease in average monthly paying clients was attributed to the removal of delinquent clients and industry challenges[324]. Revenue Composition - Featured Listings and WM Deal products revenue decreased by $11.5 million, while Weedmaps for Business revenue increased by $7.4 million due to favorable pricing changes[359]. Cost Management - Total costs and expenses decreased by $36.7 million, or 18%, from $206.5 million in 2023 to $169.8 million in 2024[361]. - Cost of revenues (exclusive of depreciation and amortization) decreased to $9.0 million (4.9% of revenue) in 2024 from $12.5 million (6.7% of revenue) in 2023[358]. - Cost of revenues decreased by $3.5 million, or 28%, primarily due to a reduction in multi-channel marketing and cloud communication platform costs[361][362]. - Sales and marketing expenses decreased by $6.6 million, or 14%, mainly due to a $5.5 million reduction in personnel-related costs[361][363]. - General and administrative expenses decreased by $3.7 million, or 5%, attributed to lower personnel-related costs and a $1.5 million charge related to an SEC settlement[361][365]. Cash Flow and Liquidity - Cash totaled $52.0 million as of December 31, 2024, with no long-term debt[309]. - Net cash provided by operating activities increased to $36.7 million in 2024 from $22.9 million in 2023, driven by a net income of $12.2 million[373][376]. - Cash as of December 31, 2024, was $52.0 million, up from $34.4 million in 2023, indicating improved liquidity[371]. - Net cash used in investing activities remained stable at approximately $11.6 million in 2024, consistent with $11.9 million in 2023[378]. - The company expects to fund future operations and potential acquisitions primarily through existing cash and cash generated from operations[371][372]. Strategic Initiatives - The company plans to continue investments in brand awareness and market expansion to enhance its two-sided marketplace[315]. - The company plans to accelerate investments in marketing to enhance brand awareness and expand business listings[343]. - The company aims to enhance its data assets and improve the functionality of its Weedmaps for Business offerings to capitalize on market growth[343]. - The cannabis market is expected to grow as more jurisdictions legalize cannabis for medical and adult use, providing new expansion opportunities[335]. - The company anticipates that competition will intensify as the regulatory environment stabilizes, potentially attracting new market participants[338]. Asset Management - The company assesses potential impairments to long-lived assets at least annually, with operating leases having a weighted average remaining lease term of 6.0 years as of December 31, 2024[402]. - The company performed a long-lived asset impairment test, recognizing impairment charges when the carrying amount of an asset exceeds its fair value[407]. - The company did not have any impairment charges related to property and equipment for the year ended December 31, 2024[407]. - An impairment charge of $6.1 million was recorded for the year ended December 31, 2023 related to intangible assets associated with certain product offerings that were sunset[401]. Liabilities and Obligations - Future payments on operating leases total $40.5 million as of December 31, 2024[381]. - The company recorded a TRA liability of $4.4 million as of December 31, 2024, up from $1.8 million in 2023[382]. - The tax savings associated with acquisitions of common units in the Business Combination would aggregate to approximately $165.7 million over 15 years from the Closing Date, with a required payment to Class A Unit holders of approximately $140.8 million[383]. Stock and Compensation - For the years ended December 31, 2024 and 2023, stock-based compensation expense recognized was $9.2 million and $13.5 million, respectively[395]. - Capitalized software development costs for the years ended December 31, 2024 and 2023 were $11.6 million and $13.1 million, respectively[396]. - The allowance for credit losses was $1.2 million and $8.7 million as of December 31, 2024 and December 31, 2023, respectively[398]. - No goodwill impairment charges were recorded for the years ended December 31, 2024 and 2023, with the fair value of goodwill exceeding its carrying amount by approximately 95%[400]. Lease and Warrant Information - The company amended its lease for its corporate headquarters in Irvine, California, extending the lease term by five years and recognizing a non-cash lease liability and ROU asset of $3.0 million each[405]. - The lease classification for the amended lease remained as an operating lease, and the company paid $0.1 million to terminate another lease agreement, reporting a gain of $0.1 million[405]. - As of December 31, 2024, the company had a warrant liability of $0.6 million, with 12,499,973 Public Warrants and all Private Placement Warrants remaining outstanding[408]. - The fair value of the Public Warrants is classified as Level 1 financial instruments based on publicly listed trading prices, while the fair value of Private Placement Warrants is determined using Level 3 inputs with the Black-Scholes model[408]. - The estimates of fair value for the warrants may change significantly based on market assumptions and valuation techniques, potentially impacting future results of operations[408].

Group 1 - Collins Aerospace has received approval for Full Rate Production of the Mounted Assured Positioning, Navigation and Timing Generation II system (MAPS GEN II) for the U.S. Army [1] - The company will produce thousands of MAPS units for installation on U.S. Army and U.S. Marines Corps' combat ground vehicles, including military watercraft [2] - MAPS GEN II integrates sensor data, including satellite navigation and secured positioning, navigation, and timing data for both crewed and uncrewed ground vehicles [2][3] Group 2 - The MAPS GEN II system is a critical component of the Department of Defense's modernization goals, providing reliable access to assured PNT for military operations [3] - The system includes the NavHub™-100 navigation system and Multi-Sensor Antenna System (MSAS-100), supporting various mission sets such as combat and logistics [3] - Collins Aerospace is part of RTX, the world's largest aerospace and defense company, which employs over 185,000 people and reported sales exceeding $80 billion in 2024 [5]

Core Viewpoint - ProStar Holdings Inc. has formed a strategic partnership with Point One Navigation to enhance precision mapping and asset management practices globally, aiming to set a new standard in the industry [1][5][8]. Group 1: Partnership and Integration - The partnership with Point One Navigation will integrate its Polaris RTK corrections network into ProStar's PointMan solution, providing customers with centimeter-level accuracy for mapping infrastructure and utilities [4][5][7]. - ProStar is actively forming strategic alliances with industry leaders to enhance its offerings and accelerate market adoption through leveraging partners' distribution networks [2][8]. Group 2: Technology and Accuracy - Current GPS technology offers average accuracy measured in meters, which is insufficient for precise underground mapping [3]. - Point One's Polaris network consists of over 2,000 base stations that enhance GPS/GNSS positioning accuracy across more than 36 countries, ensuring high precision for various applications [4][7]. Group 3: Market Position and Vision - ProStar aims to establish PointMan as the global standard for precision mapping, combining advanced technologies to deliver a comprehensive and affordable solution for customers of all sizes [8][11]. - The integration of Point One's RTK corrections with PointMan is expected to make precision location the default for customers, enhancing usability and performance [8][9].

Core Insights - ProStar Holdings Inc. has announced that the top-ranked water and wastewater construction company in the U.S. has adopted its Precision Mapping Solutions, specifically the PointMan software [1][3] - The adoption of PointMan signifies a shift from outdated practices to modern solutions in the construction industry, particularly for water and sewer systems that require urgent repairs and replacements [3] Company Overview - ProStar is a leading software development company specializing in patented cloud and mobile precision mapping solutions for critical infrastructure [4] - The flagship product, PointMan, enhances workflow processes related to the lifecycle management of critical infrastructure assets, including buried utilities and pipelines [4] Product Implementation - Enterprise clients typically start with a pilot project to assess the effectiveness and return on investment (ROI) of PointMan, with potential for expansion across multiple projects and regions [2] - The scale of enterprise companies presents a significant revenue opportunity, as they can increase the number of licenses needed for PointMan [2] Strategic Partnerships - PointMan is offered as a Software as a Service (SaaS) and has established strategic partnerships with leading geospatial technology providers and data collection equipment manufacturers [5] - The company has invested in building a substantial intellectual property portfolio, including 16 issued patents in the U.S. and Canada [5]

Core Insights - ProStar Holdings Inc. has secured a contract with one of the largest private construction management companies in the U.S. to implement its PointMan solution for managing critical infrastructure assets [1][2] - The client operates over 50 locations nationwide and generates annual revenue exceeding $8 billion, indicating a significant market opportunity for ProStar [2] - The initial project is based in Central Florida and emphasizes high security and safety standards, with potential for broader adoption across the client's operations if the pilot is successful [2][3] Company Overview - ProStar is a leader in developing patented cloud and mobile precision mapping solutions, particularly for the critical infrastructure sector [4] - The flagship product, PointMan, enhances workflow processes related to the lifecycle management of critical infrastructure assets, including buried utilities and pipelines [4][5] - PointMan is offered as a Software as a Service (SaaS) and is supported by strategic partnerships with leading geospatial technology providers and data collection equipment manufacturers [5] Market Dynamics - Enterprise clients typically start with a pilot project to assess PointMan's effectiveness and return on investment, which can lead to expanded use across multiple projects and regions [3] - The addition of major enterprise clients highlights a shift in the industry towards modern solutions, moving away from outdated practices [4] - The extensive network of contractors and subcontractors associated with these enterprise clients can further enhance market awareness for ProStar's offerings [3]

GRAND JUNCTION, Colo., Dec. 19, 2024 (GLOBE NEWSWIRE) -- ProStar Holdings Inc., ("ProStar®" or "the Company") (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping Solutions, announced it has taken additional measures to further streamline its operations and amended its employee long-term incentive plan. These operational savings cumulatively will reduce operating expenses by over CDN $1.3M, representing approximately a 27% decrease year over year. The savings are primarily related to ...

Core Insights - ProStar Holdings Inc. has expanded its client base by adding several Fortune 500 and Fortune 1000 companies, indicating strong market demand for its services [1][2] - The newly acquired clients include major players in the oil & gas sector, engineering and construction services, and infrastructure focusing on natural gas, water, and wastewater [2] - ProStar's PointMan precision mapping solution is being adopted to enhance operational efficiency, reduce costs, and improve safety for workers and the environment [2][3] Company Overview - ProStar is recognized as a leader in Precision Mapping Solutions, utilizing advanced GPS, cloud, and mobile technologies to create a digital mapping environment [3] - The company specializes in developing patented cloud and mobile solutions aimed at managing critical infrastructure assets both above and below ground [3][4] - ProStar's flagship product, PointMan, is offered as a Software as a Service (SaaS) and is supported by strategic partnerships with leading geospatial technology providers and data collection equipment manufacturers [4] Intellectual Property and Innovation - ProStar has invested significantly in building a robust intellectual property portfolio, which includes 16 issued patents in the United States and Canada [4] - These patents protect the methods and systems necessary for the digital capture and management of critical infrastructure locations, including buried utilities and pipelines [4]

NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of WM Technology, Inc. (NASDAQ: MAPS) between May 25, 2021, and September 24, 2024, both dates inclusive (the “Class Period”), of the important December 16, 2024 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased WM Technology securities during the Class Period you may be entitled to compensation without payment of an ...

NEW YORK, Dec. 04, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of WM Technology, Inc. (NASDAQ: MAPS) between May 25, 2021, and September 24, 2024, both dates inclusive (the “Class Period”), of the important December 16, 2024 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased WM Technology securities during the Class Period you may be entitled to compensation without payment of an ...

NEW YORK, Dec. 04, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of WM Technology, Inc. (NASDAQ: MAPS). Shareholders who purchased shares of MAPS during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/wm-technology-inc-loss-submission-form/?id=114506&from=3  CLASS PERIOD: May 25 ...