WM Technology, Inc. · OTC:MAPS
WM Technology — Q3 2024 Earnings Presentation
11 slides from WM Technology's earnings presentation, Nov 12, 2024
Slide 1: WM Technology, Inc. Q3 2024 Results
WM Technology, Inc. Q3 2024 Results November 12, 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: Q3 Financial Results
Q3 Financial Results (1) ■ Net Revenues of $46.6 million as compared to $46.7 million in the third quarter of 2023 (“prior year period”) ■ Net Income of $5.3 million as compared to a Net Loss of $2.5 million in the prior year period (2) ■ Adjusted EBITDA of $11.3 million as compared to $10.7 million
Slide 4: Q3 FY24 Income Statement (Unaudited)
Q3 FY24 | Income Statement (Unaudited) 3 Months Ended As Restated(1) ($M) September 30, 2024 September 30, 2023 Net Revenues $46.6 $46.7 Cost of Revenues (2.2) (3.0) Sales & Marketing (9.7) (11.5) Product Development (9.5) (7.7) General & Administrative (16.5) (18.2) Depreciation & Amortization (3.5
Slide 5: Historical Quarterly Financials
Historical Quarterly Financials Quarterly Net Revenues ($M) $46 $48 $47 $46 $44 $46 $47 (1) (1) (1) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 YoY Growth (20%) (17%) (8%) (6%) (4%) (5%) 0% QoQ Growth (6%) +5% (4%) (1%) (4%) +3% +1% Adjusted EBITDA & Cash ($M) $10 $11 $11 $10 $10 $9 $7 Q
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 5,045 5,100 4,937 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Average Monthly Net Revenues per Paying Client $3,089 $3,043 $2,997 $3,033 $2,878 $2,874 $2,743 (1) (1) (1) Q1 2023
Slide 7: Revenue Breakdown
Revenue Breakdown 3 Months Ended ($M) As Restated(1) September 30, 2024 September 30, 2023 Weedmaps for Business and other SaaS subscriptions $13.6 $10.9 Featured and deal listings 29.2 31.9 Subtotal $42.8 $42.8 Other ad solutions 3.7 3.9 Net Revenues $46.6 $46.7 Note: See our Q3 FY24 8-K Earnings R
Slide 8: Summary Balance Sheet and Cash Flow (Unaudited)
Summary Balance Sheet and Cash Flow (Unaudited) Balance Sheet Cash Flows 9 Months Ended As Restated (1) ($M) Sep 30, 2024 ($M) Sep 30, 2024 Dec 31, 2023 Sep 30, 2023 CASH FLOWS FROM OPERATING ACTIVITIES Cash & Cash Equivalents $45.0 $34.4 Net Income / (Loss) $8.5 ($4.5) Accounts Receivable 7.9 11.2
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 September 30, 2024 36.9% Note 10 Controlling interests ownership as of September 30, 2024 63.1% Common Shares as of September 30, 2024 Shares 10-Q Reference Class A Common St
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 97,376,026 shares C 14,659,364 Units B 55,486,361 63.1% 35.9% 35.9% 1.0%(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 Sep 30, 2024 Sep 30, 2023 Commentary Net Income $5.3 ($2.5) + Provision for Income Taxes 0.0 0.0 + Interest (Income) / Expense (0.3) (0.0) + Depreciation & Amortization 3.5 3.4 EBITDA $8.6 $0.9 + Stock-Based Compens