WM Technology, Inc. · OTC:MAPS
WM Technology — Q2 2022 Earnings Presentation
12 slides from WM Technology's earnings presentation, Aug 9, 2022
Slide 1: WM Technology, Inc. Q2 FY22 Quarterly Results
WM Technology, Inc. Q2 FY22 Quarterly Results August 9, 2022
Slide 2: Disclaimer
Disclaimer This presentation is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to WM Technology, Inc. (“WM”, the “Company”, “we”, “us”, “our”) and for no other purpose. References in this presentation to the “10
Slide 3: Financial Results
Financial Results ■ Q2 FY22 Revenue of $58 million (+24% year-over-year growth) ⏤ Monthly Active Users(1): 17.4M, +41% y-o-y and +6% from the prior quarter ⏤ Avg. Monthly Paying Clients: 5,537, +31% y-o-y and +10% from the prior quarter ⏤ Avg. Monthly Revenue per Paying Client: $3,509, (5%) y-o-y an
Slide 4: Q2 2022 P&L Summary
Q2 2022 P&L Summary Q2 FY22 1H FY22 ($M) P&L Δ vs. PY P&L Δ vs. PY Total Revenue $58 +24% $116 +31% Gross Profit 54 +21% 108 +28% Margin Rate 93% 93% Adj. Sales & Marketing(1) (19) +68% (38) +85% (2) Adj. Product Development (12) +39% (23) +41% Adj. G&A(3) (24) +45% (48) +61% (4) Total Adj. OPEX ($5
Slide 5: Quarterly Revenue Trends
Quarterly Revenue Trends Quarterly Revenue ($M) $57.5 $58.3 $54.2 $50.9 $46.9 $41.2 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 (1) YoY Growth +58% +55% +46% +39% +40% +24% (1) QoQ Growth +5% +14% +8% +6% +6% +1% Note: Revenue as % of FY may not sum due to rounding (1) 2021 growth rates represen
Slide 6: Selected Key Operating and Financial Metrics by Quarter
Selected Key Operating and Financial Metrics by Quarter Average Monthly Paying Clients 5,537 5,026 4,766 4,444 4,221 3,916 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Average Monthly Revenue per Paying Client $3,817 $3,789 $3,810 $3,706 $3,503 $3,509 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 20
Slide 7: WM Technology’s Product & Solution Ecosystem
WM Technology’s Product & Solution Ecosystem Reach Users Convert Users Fulfill Demand Retarget Users Optimize Workflows WM Connectors WM AdsSuite PoS Ad Network / Integrations SmartHub AdSuite 7
Slide 8: Non-GAAP Reconciliations: Adj. EBITDA to Reported Net Income (loss)
Non-GAAP Reconciliations: Adj. EBITDA to Reported Net Income (loss) $M Q2 FY22 1H FY22 Commentary Adj. EBITDA ($0.6) ($1.5) EBITDA Adjustments: FASB guidance requires fair value accounting on warrant liabilities. This represents + Change in FV of Warrant Liability 32.2 14.0 the mark-to-market adjust
Slide 9: Summary Balance Sheet and Cash Flow
Summary Balance Sheet and Cash Flow Balance Sheet Cash Flows ($M) 31-Dec-21 30-Jun-22 ($M) YTD Jun-22 CASH FLOWS FROM OPERATING ACTIVITIES Cash & Cash Equivalents $68 $48 Net Loss (11) Other Current Assets 31 43 Depreciation & Amortization 6 Total Current Assets $99 $90 FV of Warrant Liability (14)
Slide 10: 2H FY22 and Full Year Guidance
2H FY22 and Full Year Guidance Based on current business trends and conditions, the outlook for 2H FY22 and Full Year is as follows: ■ Revenue ⏤ Flat-to-down in the mid-single digit percent range in Q3 and Q4 ⏤ Implies low double-digit percent growth the Full Year 2022 ■ Adj. EBITDA ⏤ Positive Adj.
Slide 11: Basic and Fully Diluted Share Count
Basic and Fully Diluted Share Count Ownership Calculation Percentage 10-Q Reference Non-controlling interests ownership as of June 30, 2022 41.7% Note 10 Controlling interests ownership as of June 30, 2022 58.3% Common Shares as of June 30, 2022 Shares 10-Q Reference Common Stock Class A (voting pub
Slide 12: Share Classes
Share Classes Controlling Interest Non-Controlling Interest Non-Controlling Interest Paired Class A Common Stock 1:1 Class V Common Vested Class P Units Class A Unit Holders Stock A 88,836,328 shares C 14,575,755 Units B 56,466,013 58.3% 37.1% 37.1% 4.6%(1) voting and economic economic interest voti