WM Technology, Inc. · OTC:MAPS
WM Technology — Q2 2024 Earnings Presentation
11 slides from WM Technology's earnings presentation, Aug 8, 2024
Slide 1: WM Technology, Inc. Q2 2024 Results
WM Technology, Inc. Q2 2024 Results August 8, 2024
Slide 2: Disclaimer
Disclaimer This presentation is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to WM Technology, Inc. (“WM”, the “Company”, “we”, “us”, “our”) and for no other purpose. References in this presentation to the “10
Slide 3: Q2 Financial Results
Q2 Financial Results (1) ■ Net Revenues of $45.9 million as compared to $48.4 million in the second quarter of 2023 (“prior year period”) ■ Net Income of $1.2 million as compared to $2.0 million in the prior year period (2) ■ Adjusted EBITDA of $10.1 million as compared to $10.2 million in the prior
Slide 4: Q2 FY24 Income Statement (Unaudited)
Q2 FY24 | Income Statement (Unaudited) 3 Months Ended As Restated(1) ($M) June 30, 2024 June 30, 2023 Net Revenues $45.9 $48.4 Cost of Revenues (2.2) (3.2) Sales & Marketing (11.1) (12.6) Product Development (9.6) (9.2) General & Administrative (18.5) (16.8) Depreciation & Amortization (3.2) (2.9) T
Slide 5: Historical Quarterly Financials
Historical Quarterly Financials Quarterly Net Revenues ($M) $46 $48 $47 $46 $44 $46 (1) (1) (1) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 YoY Growth (20%) (17%) (8%) (6%) (4%) (5%) QoQ Growth (6%) +5% (4%) (1%) (4%) +3% Adjusted EBITDA & Cash ($M) $10 $11 $10 $10 $9 $7 Q1 2023 Q2 2023 Q3 2023
Slide 6: Selected Key Operating and Financial Metrics by Quarter
Selected Key Operating and Financial Metrics by Quarter Average Monthly Paying Clients 5,641 5,609 5,414 5,014 4,937 5,045 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Average Monthly Net Revenues per Paying Client $2,878 $2,879 $3,089 $2,997 $3,033 $2,743 (1) (1) (1) Q1 2023 Q2 2023 Q3 2023 Q4 2
Slide 7: Revenue Breakdown
Revenue Breakdown 3 Months Ended ($M) As Restated(1) June 30, 2024 June 30, 2023 Weedmaps for Business and other SaaS subscriptions (2) $13.4 $11.3 Featured and deal listings (3) 28.4 33.0 Subtotal $41.8 $44.3 Other ad solutions (4) 4.1 4.2 Net Revenues $45.9 $48.4 Note: See our Q2 FY24 8-K Earnings
Slide 8: Summary Balance Sheet and Cash Flow (Unaudited)
Summary Balance Sheet and Cash Flow (Unaudited) Balance Sheet Cash Flows 6 Months Ended As Restated (1) ($M) Jun 30, 2024 Dec 31, 2023 ($M) Jun 30, 2024 Jun 30, 2023 Cash & Cash Equivalents $41.3 $34.4 CASH FLOWS FROM OPERATING ACTIVITIES Accounts Receivable 7.0 11.2 Net Income / (Loss) $3.2 ($2.0)
Slide 9: Basic and Fully Diluted Share Count
Basic and Fully Diluted Share Count Ownership Calculation Percentage 10-Q Reference Non-controlling interests ownership as of June 30, 2024 37.3% Note 10 Controlling interests ownership as of June 30, 2024 62.7% Common Shares as of June 30, 2024 Shares 10-Q Reference Common Stock Class A (voting pub
Slide 10: Share Classes
Share Classes Controlling Interest Non-Controlling Interest Non-Controlling Interest Paired Class A Common Stock Class A Unit 1:1 Class V Common Vested Class P Units Holders Stock A 96,948,250 shares C 14,639,221 Units B 55,486,361 62.7% 35.9% 35.9% 1.5%(1) voting and economic interest voting and vo
Slide 11: Non-GAAP Reconciliations: Net Income to EBITDA and Adjusted EBITDA
Non-GAAP Reconciliations: Net Income to EBITDA and Adjusted EBITDA 3 Months Ended $M June 30, 2024 June 30, 2023 Commentary Net Income $1.2 $2.0 + Provision for Income Taxes 0.0 0.0 + Interest (Income) / Expense (0.0) (0.0) + Depreciation & Amortization 3.2 2.9 EBITDA $4.4 $4.8 + Stock-Based Compens