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]

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].

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].

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].

Core Viewpoint - ProStar Holdings Inc. has partnered with Emlid Tech Kft. to enhance its PointMan® Precision Mapping Solutions® by integrating Emlid's high-precision GNSS equipment, aiming to provide affordable centimeter-level precision for mapping underground utilities and critical infrastructure [1][3]. Group 1: Partnership and Technology Integration - The strategic partnership aims to combine ProStar's PointMan platform with Emlid's GNSS receivers, enabling users to achieve affordable centimeter-accurate mapping solutions globally [3][4]. - ProStar is actively forming alliances with industry leaders to integrate top technologies into PointMan, enhancing its capabilities and driving revenue through partners' distribution networks [2][5]. Group 2: Product Features and Benefits - Emlid's Reach RX and Reach RS3 receivers offer lightweight, cost-efficient solutions for precision mapping, with the Reach RX being a pocket-sized RTK GNSS receiver that requires no configuration [4][6]. - PointMan, enhanced with Point One RTK corrections, utilizes over 2,000 base stations and major satellite constellations to provide a user-friendly mobile mapping solution [4][5]. Group 3: Company Background - ProStar specializes in cloud and mobile mapping solutions for the critical infrastructure sector, with its flagship product, PointMan, designed to streamline the management of utility and pipeline assets [7][8]. - Emlid develops high-precision RTK GNSS receivers and software, catering to various applications including surveying, GIS, and drone mapping, with a global distribution network [6].

Financial Data and Key Metrics Changes - For Q4 2024, the company reported revenue of $47.7 million and adjusted EBITDA of $11.9 million, bringing full-year revenue to $184.5 million and adjusted EBITDA to $42.9 million, reflecting a focus on profitability despite industry headwinds [10][28] - The net income for Q4 was $3.7 million, compared to a net loss of $11.2 million in Q4 2023, indicating a significant turnaround [27] - Full-year net income was $12.2 million, compared to a net loss of $15.7 million in 2023, showcasing improved financial health [30] Business Line Data and Key Metrics Changes - Average monthly paying clients in Q4 reached 5,225, a 4% increase year-over-year, driven by new client acquisition and reactivation [25] - The average monthly revenue per paying client decreased by 2% to $3,041 due to clients' marketing budget constraints [26] - Full-year average monthly paying clients declined to 5,077 from 5,419 in the prior year, primarily due to client churn and the sunset of certain products [29] Market Data and Key Metrics Changes - The company noted ongoing pricing and regulatory pressures in mature markets like California, while newer markets such as New York and Florida face their own challenges [12][13] - The impact of emerging markets remains small, but the company is committed to developing these markets despite current limitations [14] Company Strategy and Development Direction - The company plans to prioritize investments in technology and marketing to strengthen the Weedmaps platform and unlock future growth opportunities [15][34] - Key initiatives include expanding into the hemp, head shop, and homegrown seed markets, which are seen as natural extensions of the existing marketplace [16][17] - The company emphasizes the need for collaboration across all departments to enhance the marketplace and improve user experience [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that the cannabis industry continues to face significant challenges, including regulatory uncertainty and competition from illicit markets [12][20] - The company remains hopeful for long-term market stabilization and is focused on operational improvements to navigate these challenges [15][19] - Management criticized government regulations, stating that they hinder the industry's growth and called for smarter regulation to support market development [21][22] Other Important Information - The company ended 2024 with a strong balance sheet, closing with $52 million in cash and a debt-free position, providing flexibility for strategic growth initiatives [31][32] - The company generated $17.6 million in cash for the full year, aided by effective accounts receivable management [31] Q&A Session Summary Question: What are the expectations for Q1 2025 revenues? - The company expects Q1 revenues to be approximately $44 million, consistent with prior year results, and non-GAAP adjusted EBITDA to be around $7 million [34][35]

Financial Data and Key Metrics Changes - For Q4 2024, the company reported revenue of $47.7 million and adjusted EBITDA of $11.9 million, leading to a full-year revenue of $184.5 million and adjusted EBITDA of $42.9 million [9][27] - The net income for Q4 was $3.7 million, a significant improvement from a net loss of $11.2 million in Q4 of the previous year [26] - Full-year revenue decreased from $188 million in the prior year, primarily due to client marketing budget constraints and product sunset impacts [28] Business Line Data and Key Metrics Changes - Q4 average monthly paying clients increased to 5,225, marking a 4% increase year-over-year, driven by new client acquisition and reactivation [24] - The average monthly revenue per paying client decreased by 2% to $3,041 due to ongoing budgetary constraints faced by clients [25] - GAAP operating expenses decreased by 27% in Q4 compared to the prior year, largely due to prior year impairment charges [26] Market Data and Key Metrics Changes - The company noted that licensed cannabis markets are experiencing pricing and regulatory pressures, leading to consolidation in mature markets [11] - New markets like New York and Florida are facing regulatory challenges, with New York struggling against illicit competition and Florida's growth slowing due to legislative failures [12] Company Strategy and Development Direction - The company plans to prioritize investments in technology and marketing to strengthen the Weedmaps platform and unlock future opportunities [14] - Key initiatives include expanding into the hemp, head shop, and homegrown seed markets to drive user engagement [15][16] - The company aims to enhance its marketplace foundation to improve user and client experiences while preparing for future industry developments [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing industry challenges, including regulatory uncertainty and competition from illicit markets, but expressed hope for long-term market stabilization [12][19] - The company emphasized the need for supportive legislation and regulation to foster a thriving cannabis industry [20][21] - Management highlighted the importance of adaptability and financial discipline in navigating the evolving landscape [18] Other Important Information - The company ended 2024 with a strong balance sheet, closing with $52 million in cash and a debt-free position [10][31] - Free cash flow in 2024 was boosted by successful collections from past due accounts, which is not expected to be repeated [30] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session.

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].