WM Technology, Inc. Class A (MAPS)

WM Technology, Inc.'s stock has been impacted by several events in the past six months. In December 2024, the company received a non-binding acquisition proposal from its co-founders for $1.70 per share, leading to the formation of a special committee. In April 2024, cannabis stocks, including MAPS, surged following reports of the DEA's decision to reclassify marijuana. The Q1 2025 earnings report indicated a miss on earnings per share but a beat on revenue for the fourth quarter of 2023, while Q1 2024 results showed a miss on revenue. The Q2 2025 financial results showed a slight revenue decline year-over-year but an improved adjusted EBITDA. Insider selling by directors has also been reported in June and August 2025.

The cannabis market exhibits seasonality, with summer months and March showing strong sales growth. Weekends, especially Friday and Saturday, are the busiest days for overall cannabis sales, driven by recreational products, while medical cannabis products perform better on early weekdays and earlier in the day. Holidays also contribute to sales spikes. In Q1 2024 in New York, cannabis flower was ordered through Weedmaps more than half the time (53%), and edibles were ordered 27% of the time.

WM Technology, Inc. provides an online cannabis marketplace, Weedmaps, connecting cannabis users with local dispensaries and products, and offers educational resources. The company also offers WM Business, a suite of B2B software solutions designed to help cannabis retailers and brands with e-commerce, compliance, advertising, and data analytics. Its major products include monthly subscription-based business software solutions such as WM Listings, WM Orders, WM Store, WM Connectors, and WM Insights, along with add-on advertising products.

Headquartered in Irvine, California, United States, WM Technology, Inc. operates in the United States and internationally, including Canada.

Weedmaps has actively worked to strengthen its commitment to community-building, particularly in the New York cannabis market, by sponsoring industry events, assisting legacy operators, and implementing marketing initiatives. WM Technology has also been a driving force behind legislative changes in the cannabis industry, advocating for legalization, social equity, and licensing. No specific negative events significantly impacting its brand reputation in the past year were found.

WM Technology, Inc.'s ownership structure includes institutional investors owning approximately 19.08% to 29.84% of the stock, insiders owning around 40.82%, and public companies and individual investors holding about 10.75% to 40.12%. Major institutional owners include Morgan Stanley, BlackRock, Inc., and Vanguard Group Inc. Significant individual shareholders include co-founders Justin Hartfield, who owns approximately 13.32% of the company, and Douglas Francis, with about 8.32%.