Overview
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- TickerMAPS on OTC1
- IndustryServices-Prepackaged Software1
- HeadquartersIrvine, California1
- Incorporated inCayman Islands3
- Business address41 Discovery, Irvine, Ca 926183
- Filer categoryAccelerated filer, Smaller reporting company3
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Founded in 2008, and headquartered in Irvine, California, WM Technology, Inc. operates a leading online cannabis marketplace for consumers together with a comprehensive set of eCommerce and compliance software solutions for cannabis businesses, which are sold to both storefront locations and delivery operators (“retailers”) and brands in the legalized cannabis markets in states and territories of the United States. Our comprehensive business-to-consumer and business-to-business suite of products afford cannabis retailers and brands of all sizes integrated tools to compliantly run their businesses and to reach, convert, and retain consumers.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Featured Listing brought in 61% of the revenue WM TECHNOLOGY, INC. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Featured Listing | $115.0M | $106.1M |
| Weedmaps for Business and other SaaS solutions | $54.2M | $53.3M |
| Product and Service, Other | $15.3M | $15.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue5¢$8.8M
- Research and development16¢$28.1M
- Other costs78¢$135.7M
- Income tax0¢$93.0K
- Profit1¢$2.0M
Out of $174.7M in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$26.2M
Out of $26.2M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenues | $174.7M | $184.5M |
| Cost of revenues (exclusive of depreciation and amortization shown separately below) | $8.8M | $9.0M |
| Sales and marketing | $38.9M | $40.4M |
| Product development | $28.1M | $36.4M |
| General and administrative | $76.9M | $70.6M |
| Depreciation and amortization | $13.4M | $13.3M |
| Asset impairment charges | $7.8M | $0 |
| Total costs and expenses | $173.9M | $169.7M |
| Operating income | $766.0K | $14.8M |
| Change in fair value of warrant liability | $390.0K | $0 |
| Change in tax receivable agreement liability | $333.0K | -$2.8M |
| Other income | $1.9M | $241.0K |
| Income before income taxes | $3.4M | $12.2M |
| Provision for income taxes | $93.0K | $46.0K |
| Net income | $3.3M | $12.2M |
| Net income attributable to non-controlling interests | $1.3M | $4.5M |
| Net income attributable to WM Technology, Inc. | $2.0M | $7.6M |
| Weighted average basic shares outstanding - Class A Common Stock (in shares) | 106.6M shares | 96.3M shares |
| Weighted average diluted shares outstanding - Class A Common Stock (in shares) | 108.2M shares | 97.1M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2021-05-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $62.4M | $52.0M | ||
| Accounts receivable, net | $14.6M | $10.1M | ||
| Prepaid expenses and other current assets | $7.9M | $7.5M | ||
| Total current assets | $84.9M | $69.5M | ||
| Property and equipment, net | $25.0M | $24.1M | ||
| Goodwill | $61.3M | $68.4M | $68.4M | |
| Intangible assets, net | $1.5M | $2.0M | ||
| Right-of-use assets | $12.2M | $14.7M | ||
| Other assets | $5.8M | $3.3M | ||
| Total assets | $190.7M | $181.9M | ||
| Accounts payable and accrued expenses | $24.0M | $20.1M | ||
| Deferred revenue | $5.5M | $5.4M | $5.9M | |
| Operating lease liabilities, current | $3.9M | $3.5M | ||
| Tax receivable agreement liability, current | $2.7M | $1.4M | ||
| Warrant liability, current | $195.0K | $0 | ||
| Total current liabilities | $36.2M | $30.4M | ||
| Operating lease liabilities, non-current | $22.6M | $26.6M | ||
| Tax receivable agreement liability, non-current | $0 | $3.0M | ||
| Warrant liability, non-current | $0 | $585.0K | ||
| Other long-term liabilities | $0 | $1.2M | ||
| Total liabilities | $58.9M | $61.8M | ||
| Preferred Stock - $0.0001 par value; 75,000,000 shares authorized; no shares issued and outstanding at December 31, 2025 and December 31, 2024 | $0 | $0 | ||
| Additional paid-in capital | $112.1M | $92.9M | ||
| Accumulated deficit | -$54.9M | -$56.9M | ||
| Total WM Technology, Inc. stockholders equity | $57.2M | $36.1M | ||
| Non-controlling interests | $74.6M | $84.0M | ||
| Total stockholders equity | $131.8M | $120.1M | $103.2M | |
| Total liabilities and stockholders equity | $190.7M | $181.9M | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 75.0M shares | 75.0M shares | 75.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2021-05-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $62.4M | $52.0M | ||
| Accounts receivable, net | $14.6M | $10.1M | ||
| Prepaid expenses and other current assets | $7.9M | $7.5M | ||
| Total current assets | $84.9M | $69.5M | ||
| Property and equipment, net | $25.0M | $24.1M | ||
| Goodwill | $61.3M | $68.4M | $68.4M | |
| Intangible assets, net | $1.5M | $2.0M | ||
| Right-of-use assets | $12.2M | $14.7M | ||
| Other assets | $5.8M | $3.3M | ||
| Total assets | $190.7M | $181.9M | ||
| Accounts payable and accrued expenses | $24.0M | $20.1M | ||
| Deferred revenue | $5.5M | $5.4M | $5.9M | |
| Operating lease liabilities, current | $3.9M | $3.5M | ||
| Tax receivable agreement liability, current | $2.7M | $1.4M | ||
| Warrant liability, current | $195.0K | $0 | ||
| Total current liabilities | $36.2M | $30.4M | ||
| Operating lease liabilities, non-current | $22.6M | $26.6M | ||
| Tax receivable agreement liability, non-current | $0 | $3.0M | ||
| Warrant liability, non-current | $0 | $585.0K | ||
| Other long-term liabilities | $0 | $1.2M | ||
| Total liabilities | $58.9M | $61.8M | ||
| Preferred Stock - $0.0001 par value; 75,000,000 shares authorized; no shares issued and outstanding at December 31, 2025 and December 31, 2024 | $0 | $0 | ||
| Additional paid-in capital | $112.1M | $92.9M | ||
| Accumulated deficit | -$54.9M | -$56.9M | ||
| Total WM Technology, Inc. stockholders equity | $57.2M | $36.1M | ||
| Non-controlling interests | $74.6M | $84.0M | ||
| Total stockholders equity | $131.8M | $120.1M | $103.2M | |
| Total liabilities and stockholders equity | $190.7M | $181.9M | ||
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Preferred stock, shares authorized (in shares) | 75.0M shares | 75.0M shares | 75.0M shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net income | $3.3M | $12.2M |
| Depreciation and amortization | $13.4M | $13.3M |
| Change in fair value of warrant liability | -$390.0K | $0 |
| Change in tax receivable agreement liability | -$333.0K | $2.8M |
| Amortization of right-of -use lease assets | $2.5M | $3.8M |
| Asset impairment charges | $7.8M | $0 |
| Stock-based compensation | $7.8M | $9.2M |
| Loss contingency | $2.3M | $0 |
| Gain on lease termination | $0 | -$109.0K |
| Provision for credit losses | $4.4M | $38.0K |
| Accounts receivable | -$8.9M | $1.1M |
| Prepaid expenses and other current assets | -$1.1M | -$1.5M |
| Other assets | -$1.6M | $1.0M |
| Accounts payable and accrued expenses | $582.0K | $996.0K |
| Deferred revenue | $66.0K | -$485.0K |
| Operating lease liabilities | -$3.5M | -$5.6M |
| Net cash provided by operating activities | $26.2M | $36.7M |
| Capitalized software and expenditures | -$12.7M | -$11.6M |
| Net cash used in investing activities | -$12.7M | -$11.6M |
| Distributions to non-controlling interests | -$1.9M | -$7.7M |
| Taxes paid related to net share settlement of equity awards | -$3.0K | -$4.0K |
| Proceeds from repayment of related party note | $273.0K | $379.0K |
| Tax receivable agreement payment | -$1.4M | -$116.0K |
| Net cash used in financing activities | -$3.1M | -$7.4M |
| Net increase in cash | $10.4M | $17.6M |
| Cash paid for income taxes | $149.0K | $52.0K |
| Stock-based compensation capitalized for software development | $711.0K | $1.1M |
| Capitalized assets included in accounts payable and accrued expenses | $1.3M | $881.0K |
| Remeasurement of the lease liabilities and right-of-use assets due to lease modification | $0 | $3.0M |
No quarter-by-quarter statement was filed.
Corporate structure
WM TECHNOLOGY, INC. sits at the top of its group. 22 entities, 5 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of WM TECHNOLOGY, INC.
- Senvest Management, LLC Filed SCHEDULE 13G on WM TECHNOLOGY, INC., latest Jul 9, 2026 (4 filings since Feb 9, 2022)
- Morgan Stanley Filed SCHEDULE 13G/A on WM TECHNOLOGY, INC., latest May 7, 2026 (3 filings since Feb 9, 2024)
- BlackRock Filed SCHEDULE 13G/A on WM TECHNOLOGY, INC., latest Apr 27, 2026 (5 filings since Feb 10, 2023)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on WM TECHNOLOGY, INC., latest Mar 27, 2026 (8 filings since Feb 10, 2022)
- Justin Hartfield Filed SCHEDULE 13D/A on WM TECHNOLOGY, INC., latest Jun 23, 2025 (2 filings since Dec 18, 2024)
- James J. Pallotta Filed SC 13G/A on WM TECHNOLOGY, INC., latest Jul 15, 2024 (2 filings since Jan 16, 2024)
- Douglas Francis Filed SC 13D/A on WM TECHNOLOGY, INC., latest May 31, 2024
- Luxor Capital Group, LP Filed SC 13G/A on WM TECHNOLOGY, INC., latest Feb 14, 2023
- Tony Aquila Filed SC 13D on WM TECHNOLOGY, INC., latest Apr 19, 2022
- Silver Spike Holdings, LP Filed SC 13D/A on WM TECHNOLOGY, INC., latest Apr 11, 2022
- ALGER ASSOCIATES INC Filed SC 13G/A on WM TECHNOLOGY, INC., latest Feb 14, 2022
- PURA VIDA INVESTMENTS, LLC Filed SC 13G/A on WM TECHNOLOGY, INC., latest Feb 14, 2022
- WM TECHNOLOGY, INC. Irvine, California
- Canncurrent, LLC Subsidiary · Delaware, United States
- Deliver Green, LLC Subsidiary · Delaware, United States
- Discovery Opco, LLC Subsidiary · Delaware, United States
- Ghost Management Group, LLC Subsidiary · Delaware, United States
- GMG Holdco, Inc. Subsidiary · Delaware, United States
- Grow One Software (Canada), Inc. Subsidiary · British Columbia, Canada
- Livery Desk, LLC Subsidiary · Delaware, United States
- Transport Logistics Holding Company, LLC Subsidiary · Delaware, United States
- Weedmaps Germany GmbH Subsidiary · Germany
- Weedmaps Media, LLC Subsidiary · Delaware, United States
- Weedmaps Spain, S.L.U. Subsidiary · Spain
- WM Canada Holdings, Inc. Subsidiary · British Columbia, Canada
- WM Enterprise, LLC Subsidiary · Delaware, United States
- WM Headie, LLC Subsidiary · Delaware, United States
- WM Holding Company, LLC Subsidiary · Delaware, United States
- WM In-Store Solutions, LLC Subsidiary · Delaware, United States
- WM Loyalty, LLC Subsidiary · Delaware, United States
- WM Marketplace, LLC Subsidiary · Delaware, United States
- WM Museum, LLC Subsidiary · Delaware, United States
- WM Retail, LLC Subsidiary · Delaware, United States
- WM Teal, LLC Subsidiary · Delaware, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What WM TECHNOLOGY, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, net | $25.0M2 Dec 31, 2025 | $24.1M2 Dec 31, 2024 | +3.8% |
| Operating-lease assets (leased space) | $12.2M2 Dec 31, 2025 | $14.7M2 Dec 31, 2024 | −16.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $62.4M2 Dec 31, 2025 | $52.0M2 Dec 31, 2024 | +20.1% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $61.3M2 Dec 31, 2025 | $68.4M2 Dec 31, 2024 | −10.4% |
| Intangible assets, net (excluding goodwill) | $1.5M2 Dec 31, 2025 | $2.0M2 Dec 31, 2024 | −22.6% |
| Finite-lived intangibles, gross | $7.8M2 Dec 31, 2025 | $7.7M2 Dec 31, 2024 | +1.5% |
| Accumulated amortization | $6.3M2 Dec 31, 2025 | $5.7M2 Dec 31, 2024 | +9.8% |
| Finite-lived intangibles, net | $1.5M2 Dec 31, 2025 | $2.0M2 Dec 31, 2024 | −22.6% |
Properties, in its own words
We currently maintain our executive offices and headquarters at 41 Discovery, Irvine, California 92618, pursuant to an operating lease that expires in 2030. We also have office spaces in Los Angeles, California and Austin, Texas.
We consider our current office space adequate to meet our ongoing needs. However, from time to time we may evaluate additional or substitute office spaces. We believe that we will be able to obtain additional facilities, as needed, on commercially reasonable terms.
Item 2 of the 10-K filed Mar 12, 2026.5
Leadership
Who has led WM TECHNOLOGY, INC., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chair
President
Chief financial officer
Chief operating officer
20202025
- Chief executive officerDouglas Francis Nov 12, 2024 to now15
- ChairDouglas Francis Jan 9, 2023 to May 10, 202316
- PresidentSteven Jung Jun 21, 2021 to Jun 21, 202117
- Chief financial officerSusan Echard Mar 1, 2024 to Mar 1, 202418
- Chief financial officerMary Hoitt Jul 20, 2023 to Jul 20, 202319
- Chief financial officerArden Lee Jun 21, 2021 to May 18, 202320
- Chief financial officerGregory M. Gentile Aug 7, 2019 to Aug 7, 201921
- Chief operating officerSteven Jung Jun 21, 2021 to Jun 21, 202117
- Chief operating officerJuan Jose Feijoo-Osorio Dec 14, 2021 to Nov 21, 202222
- Chief operating officerMohammed Grimeh Aug 7, 2019 to Aug 7, 201923
Board members and other officers (18)
- Chief Technology OfficerSarah Griffis Jan 8, 2025 to now24
- Chief Marketing OfficerRanda McMinn Aug 18, 2023 to Aug 18, 202325
- Chief Technology OfficerDuncan Grazier Dec 14, 2022 to Jun 11, 202426
- Chief Marketing OfficerJuan Jose Feijoo-Osorio Jun 21, 2021 to Jun 21, 202127
- CTO and CIOJustin Dean Jun 21, 2021 to Nov 21, 202228
- Board memberBrent Cox Feb 3, 2026 to now29
- Board memberHarry Demott Feb 3, 2026 to now30
- Board memberNicholas Antone Rellas Mar 9, 2026 to now31
- Board memberWilliam Glen Ibbott Oct 3, 2024 to now32
- Board memberAnthony Bay Mar 15, 2022 to now33
- Board memberBrenda Freeman Jun 21, 2021 to now34
- Board memberDouglas Francis Jun 21, 2021 to now35
- Board memberFiona Tan Jun 21, 2021 to Jun 26, 202436
- Board memberOlga Gonzalez Jun 21, 2021 to now37
- Board memberKenneth H. Landis Aug 7, 2019 to Aug 7, 201938
- Board memberOrrin Devinsky Aug 7, 2019 to Aug 7, 201939
- Board memberRichard M. Goldman Aug 7, 2019 to Aug 7, 201940
- General counselBrian Camire Jun 21, 2021 to now41
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Canncurrent, LLC Delaware4
- Deliver Green, LLC Delaware4
- Discovery Opco, LLC Delaware4
- GMG Holdco, Inc. Delaware4
- Ghost Management Group, LLC Delaware4
- Grow One Software (Canada), Inc. British Columbia4
- Livery Desk, LLC Delaware4
- Transport Logistics Holding Company, LLC Delaware4
- WM Canada Holdings, Inc. British Columbia4
- WM Enterprise, LLC Delaware4
- WM Headie, LLC Delaware4
- WM Holding Company, LLC Delaware4
- WM In-Store Solutions, LLC Delaware4
- WM Loyalty, LLC Delaware4
- WM Marketplace, LLC Delaware4
- WM Museum, LLC Delaware4
- WM Retail, LLC Delaware4
- WM Teal, LLC Delaware4
- Weedmaps Germany GmbH Germany4
- Weedmaps Media, LLC Delaware4
- Weedmaps Spain, S.L.U. Spain4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- Silver Spike Acquisition Corp.Jun 21, 2019 to Jun 21, 20213
Timeline
- Oct 13, 20268-K Entered a material agreement; Ended a material agreement42
- Aug 6, 20268-K Results of operations43
- Jul 22, 20268-K Shareholder vote44
- Jun 24, 20268-K Other events45
- May 11, 20268-K Results of operations46
- Apr 17, 20268-K Results of operations47
- Apr 7, 20268-K Listing notice or transfer; Change of auditor; Executive or director change48
- Mar 12, 20268-K Results of operations49
- Mar 10, 20268-K Executive or director change50
- Feb 5, 20268-K Listing notice or transfer51
- Feb 3, 20268-K Ended a material agreement; Executive or director change; Regulation FD disclosure52
- Nov 6, 20258-K Results of operations53
- Nov 12, 2024New chief executive Douglas Francis becomes CEO15
Calendar
Coming up
- Around Nov 1, 2026Next results, estimated About a quarter after its last report. The company hasn't announced the date.
When it reported results
- Aug 6, 2026Reported quarterly or annual results43
- May 11, 2026Reported quarterly or annual results46
- Apr 17, 2026Reported quarterly or annual results47
- Mar 12, 2026Reported quarterly or annual results49
- Nov 6, 2025Reported quarterly or annual results53
- Aug 7, 2025Reported quarterly or annual results54
- May 8, 2025Reported quarterly or annual results55
- Mar 13, 2025Reported quarterly or annual results56
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
346 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 60 major events, 147 insider forms, 30 large holders, 88 other. The latest 20:
- Oct 13, 20268-K EDGAR
- Aug 19, 20264 EDGAR
- Aug 19, 20264 EDGAR
- Aug 19, 20264 EDGAR
- Aug 6, 202610-Q EDGAR
- Aug 6, 20268-K EDGAR
- Jul 22, 20268-K EDGAR
- Jul 20, 20264 EDGAR
- Jul 9, 2026SCHEDULE 13G EDGAR
- Jun 24, 20268-K EDGAR
- May 19, 20264 EDGAR
- May 19, 20264 EDGAR
- May 19, 20264 EDGAR
- May 11, 202610-Q EDGAR
- May 11, 20268-K EDGAR
- May 7, 2026SCHEDULE 13G/A EDGAR
- Apr 28, 2026ARS EDGAR
- Apr 28, 2026DEFA14A EDGAR
- Apr 28, 2026DEF 14A EDGAR
- Apr 27, 2026SCHEDULE 13G/A EDGAR
The 346 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
72 open-market trades by officers, directors and large owners since October 2021: 0 buys and 72 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 17, 2026 | Freeman BrendaDirector | Sale | 62,501 | $0.37 | $23.1K | Form 4 |
| Feb 18, 2026 | Griffis SarahChief Technology Officer | Sale | 271,032 | $0.68 | $184.3K | Form 4 |
| Feb 18, 2026 | Camire BrianGENERAL COUNSEL | Sale | 101,209 | $0.68 | $68.8K | Form 4 |
| Feb 18, 2026 | WM Founders Legacy I, LLC10% owner | Sale | 103,019 | $0.68 | $70.1K | Form 4 |
| Nov 18, 2025 | Camire BrianGENERAL COUNSEL | Sale | 90,979 | $0.84 | $76.4K | Form 4 |
| Nov 18, 2025 | Francis DouglasChief Executive Officer | Sale | 158,733 | $0.83 | $131.7K | Form 4 |
| Aug 18, 2025 | Ghost Media Group, LLC10% owner | Sale | 156,974 | $1.16 | $182.1K | Form 4 |
| Aug 18, 2025 | Camire BrianGENERAL COUNSEL | Sale | 90,482 | $1.17 | $105.9K | Form 4 |
| Jun 24, 2025 | Ibbott William GlenDirector | Sale | 50,505 | $0.91 | $46.0K | Form 4 |
| Jun 24, 2025 | Gordon ScottDirector | Sale | 94,340 | $0.91 | $85.8K | Form 4 |
| Jun 24, 2025 | Gonzalez OlgaDirector | Sale | 62,501 | $0.91 | $56.9K | Form 4 |
| Jun 24, 2025 | Freeman BrendaDirector | Sale | 62,501 | $0.91 | $56.9K | Form 4 |
| Jun 24, 2025 | BAY ANTHONYDirector | Sale | 36,775 | $0.91 | $33.5K | Form 4 |
| Jun 23, 2025 | BAY ANTHONYDirector | Sale | 10,100 | $1.02 | $10.3K | Form 4 |
| May 16, 2025 | Camire BrianGENERAL COUNSEL | Sale | 373,523 | $1.09 | $407.1K | Form 4 |
| May 16, 2025 | WM Founders Legacy I, LLC10% owner | Sale | 155,897 | $1.11 | $173.0K | Form 4 |
| Mar 7, 2025 | BAY ANTHONYDirector | Sale | 7,576 | $1.36 | $10.3K | Form 4 |
| Feb 18, 2025 | Camire BrianGENERAL COUNSEL | Sale | 31,312 | $1.38 | $43.2K | Form 4 |
| Feb 18, 2025 | Ghost Media Group, LLC10% owner | Sale | 92,328 | $1.38 | $127.4K | Form 4 |
| Nov 18, 2024 | Camire BrianGENERAL COUNSEL | Sale | 27,848 | $1.02 | $28.4K | Form 4 |
All 72 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Senvest Management, LLCSCHEDULE 13G, 4 filings Feb 9, 2022 to Jul 9, 202657
- Morgan StanleySCHEDULE 13G/A, 3 filings Feb 9, 2024 to May 7, 202658
- BlackRockSCHEDULE 13G/A, 5 filings Feb 10, 2023 to Apr 27, 202659
- VANGUARD GROUP INCSCHEDULE 13G/A, 8 filings Feb 10, 2022 to Mar 27, 202660
- Justin HartfieldSCHEDULE 13D/A, 2 filings Dec 18, 2024 to Jun 23, 202561
- James J. PallottaSC 13G/A, 2 filings Jan 16, 2024 to Jul 15, 202462
- Douglas FrancisSC 13D/A, 1 filing May 31, 202463
- Luxor Capital Group, LPSC 13G/A, 1 filing Feb 14, 202364
- Tony AquilaSC 13D, 1 filing Apr 19, 202265
- Silver Spike Holdings, LPSC 13D/A, 1 filing Apr 11, 202266
- ALGER ASSOCIATES INCSC 13G/A, 1 filing Feb 14, 202267
- PURA VIDA INVESTMENTS, LLCSC 13G/A, 1 filing Feb 14, 202268
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Sarah GriffisChief Technology Officer | 36 | $397.8K | $3.3M69 |
| 2025 | Brian CamireGeneral Counsel and Secretary | 47 | $445.3K | $3.0M69 |
| 2025 | Douglas FrancisChief Executive Officer and Chairperson of the Board | 48 | $754.5K | $1.4M69 |
| 2024 | Douglas FrancisChief Executive Officer and Chairperson of the Board | 48 | $987.3K | $7.5M69 |
| 2024 | Brian CamireGeneral Counsel and Secretary | 47 | $413.2K | $612.3K69 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Tidal Investments LLC | 1,464,019 | $574.6K | 0.0% | −232,173 |
| Shay Capital LLC | 410,041 | $160.9K | 0.0% | +77,012 |
| Baader Bank Aktiengesellschaft | 350,000 | $137.4K | 0.0% | No change |
| Los Angeles Capital Management LLC | 286,723 | $112.5K | 0.0% | −567,678 |
| Corient Private Wealth LP | 195,000 | $76.5K | 0.0% | +18,377 |
| CreativeOne Wealth, LLC | 10,000 | $3.9K | 0.0% | No change |
| IFP Advisors, Inc | 1,273 | $500 | 0.0% | −51 |
| Advisors Asset Management, Inc. | 381 | $150 | 0.0% | −8,782 |
| TD Waterhouse Canada Inc. | 100 | $39 | 0.0% | No change |
| State of Alaska, Department of Revenue | 50,282 | $19 | 0.0% | +25,000 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How WM TECHNOLOGY, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARWM TECHNOLOGY, INC.1
- CIK0001779474
- Employer ID (EIN)98-16056155
- Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
- Incorporated inDelaware5
- Fiscal year endsDecember 311
- Industry code (SIC)7372 Services-Prepackaged Software1
- SEC reviewing officeOffice of Technology, Division of Corporation Finance1
- Business address41 Discovery, Irvine, CA 926181
- Phone646-699-37501
- Shares outstanding111,187,614 Common Class A shares; 47,852,652 Common Class V shares as of Mar 5, 20265
- Public float$84.9M as of Jun 30, 20255
- AuditorP, Irvine, CaliforniaMarch 12, 2026We have served as the Company’s auditor since 2014. PCAOB ID 23; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceJun 21, 20191
- Filings492 in all: 4 (145), 8-K (74), 3 (33), 424B3 (25), SC 13G/A (24), 10-Q (21), SC 13G (20), 425 (17)1
All 42 form types
POS AM (16), CORRESP (14), EFFECT (14), UPLOAD (10), 10-K (7), DEFA14A (7), DEF 14A (6), S-8 (5), SCHEDULE 13G/A (5), 144 (4), 4/A (4), ARS (4), S-4/A (4), S-1 (3), S-1/A (3), SC 13D (3), 10-K/A (2), 8-K/A (2), PRE 14A (2), SC 13D/A (2), SCHEDULE 13D/A (2), SCHEDULE 13G (2), 25 (1), 25-NSE (1), 3/A (1), 424B4 (1), 8-A12B (1), CERT (1), D (1), DEFM14A (1), DRS (1), NT 10-K (1), NT 10-Q (1), S-4 (1)
- Latest filingsAnnual report (10-K) Mar 12, 2026
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Apr 28, 2026
Latest 8-K (8-K) Oct 13, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Class A Common Stock, $0.0001 par value per share | MAPS | The Nasdaq Global Select Market |
| Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share | MAPSW | The Nasdaq Global Select Market |
From the cover page of the 10-K filed Mar 12, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks WM TECHNOLOGY, INC. names in Item 1A of its 10-K filed Mar 12, 2026: 77 risks under these headings, as written.5
- Risks Related to our Business and Industry
- As our costs increase, we may not be able to generate sufficient revenue to achieve profitability in the future.
- If we fail to retain our existing clients and consumers or to acquire new clients and consumers in a cost-effective manner, our revenue may decrease and our business may be harmed.
- We may fail to offer the optimal pricing of our products and solutions.
- If we fail to expand effectively into new markets, our revenue and business will be adversely affected.
- Competition from the illicit cannabis market could impact our ability to succeed.
- Our business is concentrated in California, and, as a result, our performance may be affected by factors unique to the California market.
- Litigation or legal proceedings could expose us to significant liabilities and have a negative impact on our reputation or business.
- Federal law enforcement may deem our clients to be in violation of U.S. federal law, and, in particular the Controlled Substances Act (“CSA”). A change in U.S. federal policy on cannabis enforcement and strict enforcement of federal cannabis laws against our clients would undermine our business model and materially affect our business and operations.
- Our business is dependent on U.S. state laws and regulations.
- The rapid changes in the cannabis industry and applicable laws and regulations make predicting and evaluating our future prospects difficult, and may increase the risk that we will not be successful.
- Because our business is dependent, in part, upon continued market acceptance of cannabis by consumers, any negative trends could adversely affect our business operations.
The other 66 risks
- Expansion of our business is dependent on the continued legalization of cannabis.
- Our clients face challenges unique to the cannabis industry that can impact their financial health and long-term viability. If our clients struggle financially or do not remain viable, it can negatively impact our ability to generate new revenue, maintain existing revenue or collect on outstanding receivables.
- If clients and consumers using our platform fail to provide high-quality content that attracts consumers, we may not be able to generate sufficient consumer traffic to remain competitive.
- Our business is highly dependent upon our brand recognition and reputation, and the erosion or degradation of our brand recognition or reputation would likely adversely affect our business and operating results.
- We currently face intense competition in the cannabis information market, and we expect competition to further intensify as the cannabis industry continues to evolve.
- If we fail to manage our employee operations and organization effectively, our brand, business and operating results could be harmed.
- If we are unable to recruit, train, retain and motivate key personnel, we may not achieve our business objectives.
- We rely on search engine placement, syndicated content, paid digital advertising and social media marketing to attract a meaningful portion of our clients and consumers. If we are not able to generate traffic to our website through search engines and paid digital advertising, or increase the profile of our company brand through social media engagement, our ability to attract new clients may be impaired.
- If our current marketing model is not effective in attracting new clients, we may need to employ higher-cost sales and marketing methods to attract and retain clients, which could adversely affect our profitability.
- If the Apple App Store or Google Play limit the functionality or availability of our mobile application platform, including as a result of changes or violations of terms and conditions, access to and utilization of our platform may suffer.
- We may be unable to scale and adapt our existing technology and network infrastructure in a timely or effective manner to ensure that our platform is accessible, which would harm our reputation, business and operating results.
- Our payment system and the payment systems of our clients depend on third-party providers and are subject to evolving laws and regulations.
- We track certain performance metrics with internal tools and do not independently verify such metrics. Certain of our performance metrics are subject to inherent challenges in measurement, and real or perceived inaccuracies in such metrics may harm our reputation and negatively affect our business.
- Our ability to successfully drive engagement on our platform, as well as changes to our user engagement and advertising strategy and practices, pose risks to our business.
- We may be unable to prevent others from aggregating or misappropriating data from our websites.
- If our information technology systems or those third parties with whom we work, or our data, are or were compromised, we could experience adverse consequences resulting from such compromise, including but not limited to regulatory investigations or actions; litigation; fines and penalties; disruptions of our business operations; reputational harm; loss of revenue or profits; loss of customers or sales; and other adverse consequences.
- Our operations and employees face risks related to macroeconomic conditions and catastrophic events, that have adversely impacted and could in the future adversely impact our business, financial condition and operating results.
- Fluctuations in our quarterly and annual operating results may adversely affect our business and prospects.
- We may improve our products and solutions in ways that forego short-term gains.
- We are subject to U.S. and certain foreign export and import controls, sanctions, embargoes, and anti-corruption laws and regulations. Compliance with these legal standards could impair our ability to compete in domestic and international markets. We can face criminal liability and other serious consequences for violations which can harm our business.
- We are subject to risks inherent in foreign operations, including social, political and economic flux and compliance with additional U.S. and foreign laws, including those related to anti-bribery and anti-corruption, and may not be able to successfully maintain or expand our foreign operations.
- We are subject to industry standards, governmental laws and regulations, contractual obligations, policies, and other obligations governing privacy, data protection and information security, and any actual or perceived failure to comply with such obligations could harm our business.
- Governmental regulation of the internet continues to develop, and unfavorable changes could substantially harm our business and operating results.
- We may be subject to claims brought against us as a result of content we provide.
- We may be subject to legal claims based on the content published to our platform.
- Future investments in alternative revenue streams or acquisitions could disrupt our business and adversely affect our operating results, financial condition and cash flows.
- We may need to raise additional capital, which may not be available on favorable terms, if at all, causing dilution to our stockholders, restricting our operations or adversely affecting our ability to operate our business.
- Our business and operating results may be harmed if we are deemed responsible for the collection and remittance of state sales taxes or other indirect taxes.
- We may be subject to potential adverse tax consequences both domestically and in foreign jurisdictions.
- Changes in accounting standards or other factors could negatively impact our future effective tax rate.
- Changes in tax laws or regulations and compliance in multiple jurisdictions may have a material adverse effect on our business, cash flow, financial condition or operating results.
- We have ongoing material weaknesses in our internal control over financial reporting as of December 31, 2025. If we are unable to remediate these material weaknesses or to develop and maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results in a timely manner, which may adversely affect investor confidence in us and materially and adversely affect our business and operating results.
- Unremediated material weaknesses identified in the years ended December 31, 2025, 2024 and 2023
- We previously restated our financial statements for several quarters, which resulted in unanticipated costs and may adversely affect investor confidence, our stock price, our ability to raise capital, raise reputational issues and may subject us to additional risks and uncertainties, including the increased possibility of legal proceedings and regulatory inquiries
- Risks Related to Our Organizational Structure
- In this discussion of risks related to our organizational structure, references to “we,” “us” and “our” generally refer to WM Technology Inc.
- We are a holding company and our only material asset is our interest in WMH LLC, and we are accordingly dependent upon distributions made by WMH LLC and its subsidiaries to pay taxes, make payments under the Tax Receivable Agreement and pay dividends.
- In certain circumstances, WMH LLC will be required to make distributions to us and the other holders of WMH Units, and the distributions that WMH LLC will be required to make may be substantial.
- We will be required to pay the WMH LLC Class A equity holders and any other persons that become parties to the Tax Receivable Agreement for certain tax benefits we may receive and the amounts payable may be substantial.
- In certain cases, payments under the TRA may be accelerated and/or significantly exceed the actual benefits we realize in respect of the tax attributes subject to the TRA.
- Additional Risks Related to the Cannabis Industry
- Cannabis remains prohibited under federal law, and therefore, strict enforcement of federal laws regarding cannabis would likely result in our inability to execute our business plan.
- Our business and our clients are subject to a variety of U.S. and foreign laws regarding financial transactions related to cannabis, which could subject our clients to legal claims or otherwise adversely affect our business.
- We are dependent on our banking relations, and we may have difficulty accessing or consistently maintaining banking or other financial services due to our connection with the cannabis industry.
- Participating in transactions involving proceeds derived from cannabis may constitute criminal money laundering.
- We may have difficulty using bankruptcy courts due to our involvement in the regulated cannabis industry.
- The conduct of third parties may jeopardize our business.
- The conduct of third parties may jeopardize our regulatory compliance.
- FDA regulation of adult-use and medical-use cannabis, as well as hemp products, e-cigarettes and other vaping products, could negatively affect the cannabis industry, which would directly affect our financial condition.
- Synthetic or hemp-derived products may compete with cannabis use and products.
- We believe that Section 230(c)(1) of the Communications Decency Act (“CDA”) provides immunity from civil and state criminal liability, but it is possible that it does not, which would subject us to legal, business and operational risks.
- We may continue to be subject to constraints on marketing our products.
- Cannabis businesses are subject to unfavorable U.S. tax treatment.
- Service providers to cannabis businesses may also be subject to unfavorable U.S. tax treatment.
- Cannabis businesses may be subject to civil asset forfeiture.
- Due to our involvement in the cannabis industry, we may have a difficult time obtaining the various insurances that are desired to operate our business, which may expose us to additional risk and financial liability.
- There may be difficulty enforcing certain of our commercial agreements and contracts.
- Certain of our directors, officers, employees and investors who are not U.S. citizens may face constraints on cross-border travel into the United States.
- Risks Related to Ownership of Our Securities
- Concentration of ownership among our existing executive officers, directors and their respective affiliates may prevent new investors from influencing significant corporate decisions.
- Public statements from investors, including expressions of interest or proposals to purchase our company, may increase the volatility of, or otherwise have an adverse impact on, the market price of our Class A common stock.
- We are a “smaller reporting company” under the U.S. federal securities laws, and the reduced reporting requirements applicable to smaller reporting companies could make our common stock less attractive to investors.
- We do not expect to declare any dividends in the foreseeable future.
- Our Certificate of Incorporation designates specific courts as the exclusive forum for certain stockholder litigation matters, which could limit the ability of our stockholders to obtain a favorable forum for disputes with us or our directors, officers or employees.
- Sale of a substantial number of our shares in the public market could cause the market price of our Class A Common Stock to drop significantly, even if our business is doing well.
- We may issue additional shares of Class A Common Stock or preferred stock, including under our equity incentive plan. Any such issuances would dilute the interest of our stockholders and likely present other risks.
- The trading price of our Class A Common Stock and the Public Warrants have been, and may continue to be, volatile, and the value of our Class A Common Stock and Warrants may decline.
- In the past we have not met, and may in the future not comply with, the listing standards of Nasdaq, and as a result our Class A Common Stock may be delisted. Delisting could adversely affect the liquidity of our Class A Common Stock and the market price of our Class A Common Stock could decrease.
Legal proceedings
The information set forth under "Commitment and Contingencies—Litigation" in Note 6 to our consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K is incorporated by reference into this Item 3.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARDouglas Francis, Chair
- 17SEC EDGARSteven Jung, President
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- 19SEC EDGARMary Hoitt, Chief financial officer
- 20SEC EDGARArden Lee, Chief financial officer
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- 28SEC EDGARJustin Dean, CTO and CIO
- 29SEC EDGARBrent Cox, Board member
- 30SEC EDGARHarry Demott, Board member
- 31SEC EDGARNicholas Antone Rellas, Board member
- 32SEC EDGARWilliam Glen Ibbott, Board member
- 33SEC EDGARAnthony Bay, Board member
- 34SEC EDGARBrenda Freeman, Board member
- 35SEC EDGARDouglas Francis, Board member
- 36SEC EDGARFiona Tan, Board member
- 37SEC EDGAROlga Gonzalez, Board member
- 38SEC EDGARKenneth H. Landis, Board member
- 39SEC EDGAROrrin Devinsky, Board member
- 40SEC EDGARRichard M. Goldman, Board member
- 41SEC EDGARBrian Camire, General counsel
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- 43SEC EDGARResults of operations
- 44SEC EDGARShareholder vote
- 45SEC EDGAROther events
- 46SEC EDGARResults of operations
- 47SEC EDGARResults of operations
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- 49SEC EDGARResults of operations
- 50SEC EDGARExecutive or director change
- 51SEC EDGARListing notice or transfer
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- 53SEC EDGARResults of operations
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