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.