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EarningsQ1 2026 Earnings Report
MAPS Q1 2026 EPS Results
Actual EPS$0.01
Consensus EPS$0.03
Beat/MissMissed by -$0.02
One Year Ago EPS$0.02
MAPS Q1 2026 Revenue Results
Actual Revenue$43.56M
Expected Revenue$40.10M
Beat/MissBeat by +$3.46M
YoY Revenue Growth-2.36%
Earnings Announcement Details
QuarterQ1 2026
Date05/13/2026
TimeAfter Close
Conference CallWednesday, May 13, 2026
MAPS Upcoming Earnings
WM Technology's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q1 2026 Earnings Call Audio
MAPS Q1 2026 Earnings Call
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Q1 2026 Earnings Slide Deck
Q1 2026 Earnings Call Summary
Earnings Call Sentiment|Neutral
The call balanced positive strategic developments and measured profitability against persistent operational headwinds. Positive items include the federal rescheduling milestone, strategic delisting to expand capabilities, revenue in line with expectations, positive adjusted EBITDA ($5.9M) and a $57M liquidity position. Offsetting these are declines in paying clients (‑4% YoY), a 2% YoY revenue decline, a $3.9M allowance for doubtful accounts that increased operating expenses, $1.3M of operating cash used, and guidance for low‑single‑digit sequential revenue decline in Q2. Overall the company is navigating a difficult industry environment with disciplined actions and strategic options, but near‑term operational metrics remain pressured.Company Guidance
Regulatory Progress — Federal Rescheduling Milestone
DOJ moved FDA‑approved medical cannabis products from Schedule I to Schedule III in April 2026, a constructive industry milestone that management views as a positive tailwind over time (no immediate material impact expected on operations).
Strategic Delisting from Nasdaq Provides Flexibility
Company voluntarily delisted from Nasdaq to gain flexibility to invest across the cannabis ecosystem and expand technology and services previously restricted by exchange policies — management calls this a strategic 'unlock' to pursue growth opportunities.
Revenue in Line with Expectations; Sequential Growth
First quarter revenue was $43.6 million, down 2% year‑over‑year but up 1% sequentially, and described as 'in line' with company expectations; sequential growth driven by increased client spend in March ahead of 4/20.
Profitability and Adjusted EBITDA
Reported net income of $1.7 million for the quarter and adjusted EBITDA of $5.9 million (excluding nonrecurring items), demonstrating positive operating profitability in a constrained environment.
Average Revenue per Paying Client Improved
Average monthly revenue per paying client was $2,914 in the quarter, a marginal increase year‑over‑year; management notes the increase was partly due to churn of lower‑spend clients improving mix.
Liquidity Position and Balance Sheet
Ended the quarter with $57 million of cash and investments (cash, short‑term treasuries and bonds) and highlighted the ability to 'put the balance sheet to work' for strategic investments and platform expansion.
MAPS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed