WM TECHNOLOGY, INC. (MAPS) Form 10-Q — Aug 6, 2026
WM Technology (Weedmaps) reported Q2 2026 revenue of $42.4 million, down from $44.8 million a year earlier, while net income rose to $2.9 million from $2.2 million. Adjusted EBITDA fell sharply to $5.0 million from $11.7 million, and average monthly paying clients declined 4% to 5,040. Credit quality is deteriorating: the allowance for credit losses doubled to $8.4 million as customers — particularly in California, now 62% of revenue — face margin compression and cash flow constraints. Operating cash flow fell to $6.9 million in the first half from $16.7 million a year ago.
Key figures
- Eps
- 0.02
- Revenue
- 42446000
- Net Income
- 2882000
- Revenue Yoy
- -5.4%
- Total Assets
- 190571000
- Cash Position
- 60499000
- Shares Outstanding
- 112,498,797 Class A and 47,852,652 Class V as of August 3, 2026
- Adjusted EBITDA
- $5.0 million vs $11.7 million prior year quarter
- Six Month Revenue
- 86004000
- Domain Name Sale Gain
- 1000000
- Credit Loss Allowance
- $8.4 million vs $4.2 million at December 31, 2025
- Warrant Exercise Price
- $11.50 (all Public and Private Placement Warrants expired June 16, 2026)
- California Revenue Share
- 62% (up from 56%)
- Avg Monthly Paying Clients
- 5040
- Operating Cash Flow H1 2025
- 16725000
- Operating Cash Flow H1 2026
- 6918000
- Deferred Tax Valuation Allowance
- 186500000
- Provision For Credit Losses H1 2026
- 8030000
- Avg Monthly Revenue Per Paying Client
- 2807
- Derivative Settlement Attorneys Fees
- $695,000 paid by insurers
- Aws Remaining Purchase Obligations2026
- $3.3 million
AI analysis
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