WM Technology, Inc. · OTC:MAPS
WM Technology — Q2 2023 Earnings Presentation
12 slides from WM Technology's earnings presentation, Aug 8, 2023
Slide 1: Q2 2023 Results
technology = WM Technology, Inc. Q2 2023 Results August 8, 2023
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 “1
Slide 3: Q2 Financial Results
Q2 Financial Results m Revenue of $51 million as compared to $58 million in the second quarter of 2022 (“prior year period”) mu Gross Profit of $48 million (94% implied Gross Margin rate as compared to 93% in the prior year period) = Net Income” of $2 million as compared to $20 million in the prior
Slide 4: Q2 FY23 P&L Summary
Q2 FY23 P&L Summary Q2 FY23 ($M) P&L Avs. PY Total Revenue $51 (13%) Gross Profit 48 (13%) Margin Rate 94% Adj. Sales & Marketing (12) (38%) Adj. Product Development ®) (8) (29%) Adj. G&A (17) (28%) Total Adj. OPEX ($37) (32%) Other Expenses © (0.2) Adj. EBITDA $10 NM Margin Rate 20% Reported Net In
Slide 5: Quarterly Revenue Trends
Quarterly Revenue Trends Quarterly Revenue ($M) $57.5 $58.3 50.9 $50.5 $49.5 $48.0 § Q12022 Q2 2022 Q3 2022 Q4 2022 Q12023 Q2 2023 YoY Growth +40% +24% (1%) (9%) (16%) (13%) QoQ Growth +6% +1% (13%) (2%) (3%) +6% Note: See our Q2 FY 2023 10-@ issued on August 8, 2023, and filed with the SEC for addi
Slide 6: Selected Key Operating and Financial Metrics by Quarter
Selected Key Operating and Financial Metrics by Quarter Average Monthly Paying Clients 5,537 5,576 5,689 5,641 5,609 j a a a a Qt 2022 Q2 2022 Q3 2022 @4 2022 Q1 2023 Q2 2023 Average Monthly Revenue per Paying Client $3,810 $3,509 a _ . 7 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Note: See our
Slide 7: Revenue Breakdown
Revenue Breakdown Q2 FY23 ($M) P&L Avs. PY Weedmaps for Business and other SaaS subscriptions ” $t (13%) Featured and deal listings ? 35 (13%) Subtotal $47 (13%) Other ad solutions © 4 (12%) Total Revenues $51 (13%) information and/or cer n adjustments
Slide 8: Summary Balance Sheet and Cash Flow
Summary Balance Sheet and Cash Flow Balance Sheet Cash Flows 6 months ended ($M) 31-Dec-22 30-Jun-23 ($M) 30-Jun-23 - CASH FLOWS FROM OPERATING ACTIVITIES Cash & Cash Equivalents $29 $25 Net Loss ©) Other Current Assets 26 23 Depreciation & Amortization 6 Total Current Assets $55 $47 FV of Warrant L
Slide 9: 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, 2023 37.8% Note 9 Controlling interests ownership as of June 30, 2023 62.2% Common Shares as of June 30, 2023 Shares 10-Q Reference Common Stock Class A (voting publ
Slide 10: Share Classes
Share Classes Controlling Interest Non-Controlling Interest Non-Controlling Interest porcccssssscsssccccee N . aa t ‘ 7 Paired [ 1 1 1 Class A Common Stock Class A Unit 41 Class V Common ; ' Vested Class P Units ' Holders 1 Stock 1 1 Seon ane ee 1 1 © 93,415,644 shares 1 14,847,453 Units 1 Hs) 55,48
Slide 11: Non-GAAP Reconciliations: Reported Net Income (Loss) to Adj. EBITDA
Non-GAAP Reconciliations: Reported Net Income (Loss) to Adj. EBITDA $M Q2 FY23 Commentary Reported Net Income $2.0 EBITDA Adjustments: FASB guidance requires fair value accounting on warrant liabilities. This + Change in FV of Warrant Liability 1.0 represents the mark-to-market adjustments + Stock-B
Slide 12: Non-GAAP Reconciliations: Reported OPEX to Adj. OPEX
Non-GAAP Reconciliations: Reported OPEX to Adj. OPEX Product General & Sales & Marketing Development Administrative Total OPEX ($m) Q2 FY23 Q2 FY23 Q2 FY23 Q2 FY23 GAAP OPEX (excluding Cost of revenues and D&A) $12.6 $9.2 $19.2 $41.0 Stock-Based Compensation (0.7) (1.1) (1.9) (3.7) M&A Transaction C