MAPS earnings analysis
What we found in MAPS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
WM Technology, Inc. reported Q1 2026 revenues of $43.6 million, a 2% decline compared to $44.6 million in Q1 2025, with an EPS of $0.01, matching prior expectations. The company noted a decrease in average monthly paying clients and net income, while maintaining a solid cash balance of $57 million. Management anticipates challenges ahead, including a low-single digit revenue decline in Q2.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Slight Decline
- Q1 2026 revenue was $43.6 million, down 2% from $44.6 million in Q1 2025.
- EPS Matches Expectations
- Reported EPS of $0.01 met analyst expectations and remained unchanged from Q1 2025.
- Improved Average Revenue per Client
- Average monthly revenue per paying client increased to $2,914 from $2,871 in the previous year.
- Stable Cash Position
- Cash, cash equivalents, and marketable securities totaled $57.0 million as of March 31, 2026.
- Efforts to Boost Client Base
- Management plans to invest in marketing to enhance brand awareness and client engagement.
- Q2 Revenue Guidance Provided
- Management expects a low-single digit percentage decline in Q2 2026 revenue compared to Q1 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decreased Client Base
- Average monthly paying clients fell to 4,983 from 5,179 in Q1 2025, reflecting increased churn.
- Higher Operational Costs
- General and administrative expenses rose 14% to $19.1 million due to increased staffing and credit loss provisions.
- Liquidity Concerns Post-Delisting
- Voluntary delisting from Nasdaq may impair investor confidence and significantly affect stock trading liquidity.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.01
What they said about what is next.
Management expects Q2 2026 revenue to decline by low-single digit percentages sequentially.
The filing reads about the same as the one before it.
What came before.
- 10-K · March 12, 2026
- WM Technology (Weedmaps) describes a two-pronged strategy: operate a consumer marketplace (Weedmaps) and monetize a suite of eCommerce/compliance SaaS products (Weedmaps for Business) to serve retailers and brands. The…
- 10-Q · November 6, 2025
- WM Technology (MAPS) reported Q3 revenue of $42.176M, down from $46.552M in Q3 2024, with operating income falling to $1.959M from $5.204M and diluted EPS of $0.02 (vs $0.03 prior-year). The company generated strong…
- 10-Q · August 7, 2025
- WM Technology, Inc. reported a revenue of $44.8 million in Q2 2025, a decrease from $45.9 million in Q2 2024, representing a 2.3% year-over-year decline. Gross margin slightly decreased to 94.9%, and diluted EPS was…
- 10-Q · May 8, 2025
- WM Technology reported Q1 2025 revenue of $44.612M, essentially flat versus Q1 2024 ($44.389M), with gross margin stable at ~95.0% and diluted EPS of $0.02. Operating income and operating cash flow declined versus prior…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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