WM Technology

MAPS

Software - Application · Technology

Price

$0.38

-0.00 (-0.52%)

Market Cap

$42.3M

Exchange

NASDAQ

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+62.0% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 66.8M (2021) → 108.2M (2025)

WM Technology, Inc. provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States, Canada, and internationally. The company offers Weedmaps marketplace that allows cannabis users to search for and browse cannabis products from retailers and brands, and reserve products from local retailers; and information on the cannabis plant, and the industry and advocate related services for legalization. It also provides WM Business suite of monthly sub

Winston Score History

Score breakdown

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Quality

Gross Margin

94.9%

Premium pricing power — 94.9% gross margin

Operating Margin

0.5%

Thin — 0.5% operating margin

ROCE

0.2%

Weak — 0.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-6.0%

Shrinking sales (-6.0% YoY)

EPS YoY

-83.3%

Earnings shrinking (-83.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

1294%

Turns 1294% of profit into real cash

FCF Margin

5.9%

Thin free cash flow (5.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.43

Conservative — low debt load (0.43)

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

27.9x

Growth-priced — P/E 27.9

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+24.9

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (27.9 → 3.0)

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Dividends

Not applicable for this business.

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