Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

WM Technology Plunges as Q3 Revenue, Profit, Outlook All Fall Short

Published 11/12/2021, 12:28 PM
Updated 11/12/2021, 12:29 PM
©  Reuters

By Dhirendra Tripathi

Investing.com – WM Technology stock (NASDAQ:MAPS) fell more than 21% Friday after the company disclosed disappointing July to September sales and profit and an outlook for the current quarter.

Revenue rose 9% to around $51 million in the third quarter after what has been a sluggish year for the cannabis industry.

The software provider to the weed stakeholders grew its monthly active users by 1.6 million during the quarter to close September at 13.9 million.

The company defines MAUs as the number of unique users opening its Weedmaps mobile app or accessing its Weedmaps.com website over the course of a calendar month.

Average monthly revenue per paying client rose 7%, to $3,817.

Profit per share was 2 cents, half of what analysts expected.

The company now expects its current-quarter revenue to be $51 million at center of the range, same as what it delivered in July through September. At the top end too, the target is not much higher at $52 million.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.