WM Technology(MAPS) - 2025 Q3 - Quarterly Results

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]