Quarterly ResultMay 11, 2026, 04:27 PM
WM Technology Q1 Revenue $43.6M, Net Income $1.7M
AI Summary
WM Technology reported its first quarter 2026 financial results, with revenue of $43.6 million and net income of $1.7 million. Revenue and net income both decreased year-over-year, primarily due to continued softness in core markets impacting advertising spend. Despite the declines, the company sustained consecutive quarters of Adjusted EBITDA profitability and noted the recent rescheduling of medical cannabis as a positive federal step. For the second quarter of 2026, WM Technology anticipates a low-single digit sequential decline in revenue.
Key Highlights
- Q1 2026 Revenue was $43.6 million, down from $44.6 million in prior year.
- Q1 2026 Net Income decreased to $1.7 million from $2.5 million year-over-year.
- Q1 2026 Adjusted EBITDA was $5.9 million, down from $10.1 million in prior year.
- Average monthly paying clients decreased to 4,983 from 5,179 year-over-year.
- Average monthly revenues per paying client increased to $2,914 from $2,871.
- Cash, cash equivalents, and marketable securities increased to $57.0 million.
- Q2 2026 revenue is expected to decline by low-single digit percentages sequentially.