WM Technology, Inc.

WM Technology, Inc. operates the Weedmaps online marketplace and a related software suite for licensed cannabis retailers, delivery operators, and brands in the United States. Its platform combines consumer discovery, ordering, advertising, compliance tools, and business software for cannabis businesses that operate in state-legal markets.

8,1 %

94,9 %

1,1 %

−5,3 %

2.34

2.34

— WM Technology, Inc.
%
Marketplace listings35% Consumer-facing cannabis listings, menus, and discovery pages on Weedmaps.
SaaS subscriptions40% Monthly Weedmaps for Business software for listings, orders, and compliance workflows.
Advertising products20% Featured placements, banner ads, promotion tiles, and other ad solutions.
Integrations and analytics5% APIs, connectors, and insights tools that link menus, POS systems, and reporting.

Customers are licensed cannabis retailers, delivery operators, and cannabis brands in U.S. state-legal markets...

  • Cannabis retailersprimary

    Storefront dispensaries buy listings, menus, ordering, and compliance tools to attract and convert local consumers.

  • Delivery operatorsprimary

    Delivery businesses use Weedmaps to publish menus, receive orders, and manage fulfillment workflows.

  • Cannabis brandssecondary

    Brands buy visibility, analytics, and routing tools to reach retailers and track product performance.

  • Cannabis consumersprimary

    Consumers use the marketplace to discover products, compare options, and reserve or order locally.

  • Other licensed cannabis clientsemerging

    Related client types such as doctors may purchase listings or visibility products in supported markets.

WM Technology is headquartered in Irvine, California and its business is centered on legalized cannabis markets in...

  • •Headquartered in Irvine, California
  • •Business focused on legalized cannabis markets in the United States
  • •Revenue depends on state and territory licensing and market expansion
  • •Platform coverage is market-specific because cannabis rules vary by state
  • •Foreign jurisdictions appear mainly in tax and corporate structure context

The company is focused on growing its marketplace and software ecosystem through organic product investment and...

01
Grow marketplace and software adoptionshort-term

More listings and subscriptions increase platform utility and client retention.

02
Strengthen product functionality and data assetsmedium-term

Better integrations and analytics make the platform more embedded in client workflows.

03
Increase brand awareness and market reachshort-term

Cannabis businesses often join through network effects, but marketing supports scale and visibility.

04
Pursue selective acquisitionsmedium-term

Acquisitions can add complementary technology and accelerate growth.

The business depends on the pace of cannabis legalization, licensing, and market expansion, so slower regulatory...

high

Slower cannabis market expansion

Revenue depends on new licenses and new legal markets, which can expand unevenly.

Scope
U.S. state-legal cannabis markets
Materiality
high
high

Competitive pressure on marketplace and ad products

The platform relies on consumer traffic and fixed ad inventory, which can be contested by other digital channels.

Scope
Marketplace listings and advertising
Materiality
high
high

Holding-company liquidity dependence

WM Technology relies on distributions from WMH LLC and subsidiaries to fund obligations.

Scope
Corporate structure and cash flow
Materiality
high
medium

Cybersecurity and integration risk

Software systems and acquired technologies can introduce vulnerabilities and operational disruption.

Scope
Platform, APIs, and acquired systems
Materiality
medium
Revenue recognition over time
Quarter-to-quarter comparability
Income taxes and tax receivable agreement
Tax expense and balance sheet liabilities
Stock-based compensation
Operating expenses and dilution
Goodwill and intangible assets
Non-cash impairment charges
Capitalized software development costs
Operating expense and asset values

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: 29/04/2026