WM Technology, Inc. Reports Fourth Quarter and Full Year 2025 Financial Results

Core Insights - WM Technology, Inc. reported fourth quarter revenue of $43.1 million and full year revenue of $174.7 million, reflecting challenges in the cannabis industry [1] - The company achieved consecutive quarters of adjusted EBITDA profitability and full year net income profitability [1] - Nick Rellas was appointed to the Board of Directors, bringing experience in consumer marketplaces [1] Financial Performance - Fourth quarter revenue decreased from $47.7 million in the prior year, attributed to pricing pressures in core markets [1] - Average monthly revenues per paying client fell to $2,804 from $3,041 year-over-year [1] - Average monthly paying clients decreased to 5,120 from 5,225 in the prior year [1] - The company reported a net loss of $5.0 million compared to a net income of $3.7 million in the prior year [1] - Adjusted EBITDA decreased to $10.4 million from $11.9 million in the prior year [1] Fiscal Year Overview - Full year revenue of $174.7 million decreased from $184.5 million in the prior year, driven by ongoing pricing pressures [1] - Average monthly revenues per paying client decreased to $2,805 from $3,029 year-over-year [1] - Average monthly paying clients increased to 5,190 from 5,077 in the prior year [1] - Net income decreased to $3.3 million from $12.2 million in the prior year [1] - Adjusted EBITDA for the year decreased to $39.8 million from $42.9 million [1] Balance Sheet and Cash Position - Total shares outstanding were 157.8 million as of December 31, 2025 [1] - Cash increased to $62.4 million as of December 31, 2025, compared to $52.0 million as of December 31, 2024 [1] Business Outlook - The company expects first quarter 2026 revenue to decline by mid- to high-single digit percentages sequentially from the fourth quarter [1]