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WM Technology, Inc.: Business Overview, Financials & Competitive Analysis

WM Technology, Inc. operates the online cannabis marketplace for consumers together with a set of eCommerce and compliance software solutions for cannabis businesses, which are sold to retailers and brands in the lega...

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4/ 10Mixed

Cyborg Score thesis

Profitable cannabis marketplace pioneer with dual-revenue model operates in structurally challenged market with limited path to...

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Industry Cannabis Technology & Marketplace
3 named competitors
4 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: October 19, 2026
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WM Technology, Inc. Overview

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WM Technology, Inc. operates the online cannabis marketplace for consumers together with a set of eCommerce and compliance software solutions for cannabis businesses, which are sold to retailers and brands in the legalized cannabis markets in states and territories of the United States. The company operates the Weedmaps platform and provides B2B SaaS solutions to the cannabis industry.

Strategic Profile

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The company has achieved its tenth consecutive quarter of Adjusted EBITDA profitability. In Q2 2025, the company achieved net income of $2.2 million (up 81% YoY) and Adjusted EBITDA of $11.7 million (up 16% YoY), though revenue decreased slightly to $44.8 million from $45.9 million in the prior year. The company is focused on monetizing its Weedmaps marketplace while growing its B2B software offerings.

Competitive Landscape

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The Weedmaps marketplace allows cannabis users to search for and browse cannabis products from retailers and brands, and reserve products from local retailers. Direct competitors include Leafly (owned by Verano Holdings), Dutchie, and emerging cannabis tech platforms. WM Technology differentiates through its dual B2C marketplace and B2B SaaS model, serving both consumers and cannabis retailers/brands.

Industry Context

WM Technology, Inc. operates in Cannabis Technology & Marketplace.

Key facts

Founded: 2008 · Headquarters: Irvine, California · Revenue: $184.5M (full-year 2024) · Market cap: $170M

What the AI analysts debated

AI-generated and not independently verified: selected findings from the multi-agent debate on WM Technology, Inc..

  • Ten consecutive quarters of Adjusted EBITDA profitability demonstrates operational discipline, though margins remain thin
  • Revenue momentum is negative with Q2 2025 revenue declining YoY and average revenue per client falling from $3,033 to $2,852
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Recent developments

Material events tracked by the AskCyborg corpus.

  • February 2026Appointed Harry DeMott and Brent Cox to Board; Susan Echard transitioned to full-time CFO
  • November 2025General Counsel Brian Camire sold 90,979 shares
  • +2 moreTrack every material event for WM Technology, Inc. as it happens. Explore monitoring →
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

Leafly MarketplaceCannabis discovery and dispensary reviews platform→Dutchie PlatformPOS and ordering platform for cannabis retailers→Verano Holdings Cannabis BrandsVertically integrated cannabis producer and retailer→

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Industry context

WM Technology, Inc. operates in Cannabis Technology & Marketplace. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does WM Technology, Inc. do?+
WM Technology, Inc. operates the online cannabis marketplace for consumers together with a set of eCommerce and compliance software solutions for cannabis businesses, which are sold to retailers and brands in the lega...
What is WM Technology, Inc.'s Cyborg Score?+
WM Technology, Inc. has a Cyborg Score of 4/10 (Mixed). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are WM Technology, Inc.'s main competitors?+
Named competitors include Leafly Marketplace, Dutchie Platform, Verano Holdings Cannabis Brands. The full competitive landscape is in the AskCyborg report.
How can I get the full WM Technology, Inc. research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the WM Technology, Inc. research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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