WM Technology, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 09, 2022 at 10:05 pm
Share
WM Technology, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 58.29 million compared to USD 46.93 million a year ago. Net income was USD 11.69 million compared to USD 4.26 million a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.13 compared to diluted loss per share from continuing operations of USD 0.17 a year ago.
For the six months, sales was USD 115.75 million compared to USD 88.09 million a year ago. Net loss was USD 2.2 million compared to net income of USD 4.26 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to basic earnings per share from continuing operations of USD 0.07 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to USD 0.17 a year ago.
WM Technology, Inc. operates the online cannabis marketplace for consumers together with a set of eCommerce and compliance software solutions for cannabis businesses, which are sold to retailers and brands in the United States and Canadian cannabis markets. The Company's business primarily consists of its commerce-driven marketplace (Weedmaps), and its fully integrated suite of end-to-end software-as-a-service (SaaS) solutions software offering (Weedmaps for Business). The Weedmaps marketplace provides cannabis consumers with information regarding cannabis retailers and brands. In addition, the Weedmaps marketplace aggregates data from a variety of sources, including retailer point-of-sale solutions to provide consumers to browse by strain, price, cannabinoids and other information regarding locally available cannabis products, through the Company's website and mobile apps. Its subscription package includes WM Listings, WM Listings, WM Listings, WM Connectors and WM Insights.