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Edge14 Nov 2025
Ball: The King of Cans
From a 19th-century glass-jar legacy to a global plant network, Ball is now a pure-play aluminum can partner to the world's biggest beverage brands.
WM Technology (MAPS) investor relations material
WM Technology Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 revenue was $42.2 million, down 9% year-over-year, with net income of $3.6 million and adjusted EBITDA of $7.6 million, reflecting continued profitability despite industry-wide pricing and margin pressures.
Average monthly paying clients increased 2% to 5,221, driven by growth in developing markets, though average monthly revenue per client declined to $2,693 from $3,043.
Maintained a strong balance sheet with cash at $62.6 million as of September 30, 2025, marking the ninth consecutive quarter of positive cash generation.
Profitability was supported by operational discipline and cost controls, despite ongoing industry and regulatory headwinds.
Financial highlights
Revenue declined 9% year-over-year, with softness across all product categories, especially featured and deal listings.
Net income for Q3 2025 was $3.6 million, down from $5.3 million in Q3 2024.
Adjusted EBITDA for Q3 2025 was $7.6 million, down from $11.3 million in the prior year.
Cash balance grew to $62.6 million, up from $52.0 million at year-end 2024.
Average monthly revenue per paying client fell 12% year-over-year to $2,693.
Outlook and guidance
Q4 2025 revenue guidance is $41–$43 million, with adjusted EBITDA expected at $5–$7 million.
Ongoing market pressures and planned investments are anticipated to impact near-term profitability.
Guidance assumes no acquisitions, investments, restructurings, or legal settlements in the period.
Management expects to fund liquidity needs from existing cash and operations for at least the next 12 months.
Impact of Michigan's new excise tax on clients?
How will industry consolidation change client profile?
Strategy for intoxicating hemp market opportunity?
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Next WM Technology earnings date
Q4 202516 Mar, 2026
Next WM Technology earnings date
Q4 202516 Mar, 2026
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Frequently asked questions
WM Technology Inc is a technology company that operates a digital marketplace and software platform for the cannabis industry. The company’s main product, Weedmaps, connects consumers with dispensaries and brands, while its SaaS offerings provide point-of-sale, logistics, and compliance solutions for businesses. WM Technology Inc is headquartered in Irvine, California, and its shares are listed on the NASDAQ.
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