WM Technology, Inc. · OTC:MAPS
WM Technology — Q1 2023 Earnings Presentation
12 slides from WM Technology's earnings presentation, May 9, 2023
Slide 1: Q1 2023 Results
technology = WM Technology, Inc. Q1 2023 Results May 9, 2023
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 Referencesin this presentation to the “10-
Slide 3: Q1 Financial Results
Q1 Financial Results m Revenue of $48 million as compared to $57 million in the first quarter of 2022 (“prior year period”) = Gross Profit of $45 million (93% implied Gross Margin rate as compared to 93% in the prior year period) m Net Loss” of $4 million as compared to net income of $31 million in
Slide 4: Q1 FY23 P&L Summary
Q1 FY23 P&L Summary Qi FY23 ($M) P&L Avs. PY Total Revenue $48 (16%) Gross Profit 45 (17%) Margin Rate 93% Adj. Sales & Marketing " (9) (50%) Adj. Product Development ®) (9) (22%) Adj. G&A (19) (22%) Total Adj. OPEX ($37) (32%) Other Expenses © (0.4) Adj. EBITDA $7 NM Margin Rate 15% Reported Net In
Slide 5: Quarterly Revenue Trends
Quarterly Revenue Trends Quarterly Revenue ($M) $57.5 $58.3 $50.5 $49.3 $48.0 @12022 @2.2022 @3 2022 @4 2022 Q12023 YoY Growth +40% 424% (1%) (9%) (16%) QoQ Growth +6% +1% (13%) (2%) (3%) Note: See our Q1 FY 2023 10-Q issued on May 9, 2023,and filed with the SEC for additional information and/or cer
Slide 6: Selected Key Operating and Financial Metrics by Quarter
Selected Key Operating and Financial Metrics by Quarter Average Monthly Paying Clients 5,537 5,576 5,689 j a a a Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Average Monthly Revenue per Paying Client $3,810 $3,509 3,019 | | _ . . Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Note: See our QIFY 202310-K issued
Slide 7: Revenue Breakdown
Revenue Breakdown Qi FY23 ($M) P&L Avs. PY Weedmaps for Business and other SaaS subscriptions ” $12 (8%) Featured and deal listings ? 33 (19%) Subtotal $45 (17%) Other ad solutions © 3 (13%) Total Revenues $48 (16%) information and/or certain adjustments
Slide 8: Summary Balance Sheet and Cash Flow
Summary Balance Sheet and Cash Flow Balance Sheet Cash Flows ($M) 31-Dec-22 31-Mar-23 ($M) 34-Mar-23 CASH FLOWS FROM OPERATING ACTIVITIES Cash & Cash Equivalents $29 $26 Net Loss (4) Other Current Assets 26 22 Depreciation & Amortization 3 Total Current Assets $55 $48 FV of Warrant Liability (1) Cha
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 March 31, 2023 38.1% F-23 Controlling interests ownership as of March 31, 2023 61.9% Common Shares as of March 31, 2023 Shares 10-Q Reference Common Stock Class A (voting pub
Slide 10: Share Classes
Share Classes Controlling Interest Non-Controlling Interest Non-Controlling Interest Class A Common Stock © 92,573,466 shares . Poired ( 1 Class A Unit tt Class V Common , Holders 1 Stock ‘ Vested Class P Units © 14,791,675 Units 61.9% voting and economic interest 1.0% 37.1% voting and economic inte
Slide 11: Non-GAAP Reconciliations: Reported Net Income (Loss) to Adj. EBITDA
Non-GAAP Reconciliations: Reported Net Income (Loss) to Adj. EBITDA $M QUFY23 Commentary Reported Net Income ($4) EBITDA Adjustments: — Change in FV of Warrant Liability FASB guidance requires fair value accounting on warrant liabilities. This represents the mark-to-market adjustments + Stock-Based
Slide 12: Non-GAAP Reconciliations: Reported OPEX to Adj. OPEX
Non-GAAP Reconciliations: Reported OPEX to Adj. OPEX Product General & Sales & Marketing Development Administrative Total OPEX ($m) QUFY23 QUFY23 Qi FY23 QUFY23 GAAP OPEX (excluding Cost of revenues and D&A) $12 $i $23 $45 Stock-Based Compensation (1) (1) (2) (4) M&A Transaction Costs - - - - Transa