Business Wire·Nov 9, 2026, 5:15 PM ET

WM Technology, Inc. Reports Third Quarter 2026 Financial Results

WM Technology reported third quarter 2026 revenue of $38.5 million, a decrease from $42.2 million in the prior year period.
The company reported a net loss of $5.9 million for the quarter compared to net income of $3.6 million the previous year.
Adjusted EBITDA declined to $0.8 million from $7.6 million in the prior year period.
Average monthly paying clients dropped to 4,899 from 5,221, driven by churn in established markets.
Average monthly revenue per paying client fell to $2,618 from $2,693 due to spend declines in established markets.
Revenue decreases were primarily caused by client payment difficulties, leading to deliberate client terminations & churn.
Operating expenses increased due to higher marketing spend, securities litigation settlements, & severance costs from a workforce reduction.
Cash & cash equivalents decreased to $51.0 million as of September 30, 2026, from $62.4 million at the end of 2025.
The company voluntarily delisted from Nasdaq & intends to deregister as an SEC reporting company to reduce overhead.
Management anticipates fourth quarter 2026 revenue to decline by a low-single digit percentage compared to the third quarter.
New sponsored ad products are launching to contribute to revenue shortly after introduction.
Strategic focus remains on expanding deeper into the cannabis supply chain & acquiring best-in-class assets.
Total shares outstanding across Class A & Class V Common Stock were 161.1 million as of September 30, 2026.