WM Technology, Inc. · OTC:MAPS
WM Technology — Q3 2023 Earnings Presentation
12 slides from WM Technology's earnings presentation, Nov 8, 2023
Slide 1: Q3 2023 Results
technology = WM Technology, Inc. Q3 2023 Results November 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 Referencesin this presentation to the “10-
Slide 3: Q3 Financial Results
Q3 Financial Results m Revenue of $47.7 million as compared to $50.5 million in the third quarter of 2022 (“prior year period”) = Net Loss of $2.5 million as compared to $10.5 million in the prior year period m Adj. EBITDA” of $10.7 million as compared to -$9.6 million in the prior year period mg Av
Slide 4: Q3 FY23 P&L Summary
Q3 FY23 P&L Summary Q3 FY23 ($M) P&L Avs. PY Total Revenue $48 (5%) Cost of Revenue (3) (29%) Adj. Sales & Marketing “ (10) (37%) Adj. Product Development 2) (7) (37%) Adj. G&A ©) (17) (41%) Total Adj. OPEX ($34) (39%) Adj. EBITDA. $1 NM Margin Rate 22% Reported Net Loss ($3) NM Note: See our Q3 FY
Slide 5: Quarterly Revenue Trends
Quarterly Revenue Trends Quarterly Revenue ($M) $57.5 $58.3 $50.5 $493 $48.0 $50.9 $477 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 YoY Growth +40% +24% (1%) (9%) (16%) (13%) (5%) QoQ Growth +6% 1% (13%) (2%) (3%) +6% (6%) Note: See our Q3 FY 2023 10-@ issued on November 8, 2023, and fil
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 5,414 : a Z Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Average Monthly Revenue per Paying Client 3,810 $ $3,509 $3,019 $2,888 $2,837 $3,022 $2,938 Q1 2022 Q2 2022 Q3 2022
Slide 7: Revenue Breakdown
Revenue Breakdown Q3 FY23 YTD Q3 FY23 ($M) P&L Avs. PY P&L Avs. PY Weedmaps for Business and other SaaS solutions” $1 (12%) $34 (11%) Featured and deal listings 2 33 (5%) 102 (13%) Subtotal $44 (7%) $136 (12%) Other WM Ad solutions © 4 12% "1 (5%) Total Revenues $48 (5%) $147 (12%) ith the \dditiona
Slide 8: Summary Balance Sheet and Cash Flow
Summary Balance Sheet and Cash Flow Balance Sheet Cash Flows 9 months ended ($M) 31-Dec-22 30-Sep-23 ($M) 30-Sep-23 - CASH FLOWS FROM OPERATING ACTIVITIES Cash & Cash Equivalents $29 $28 Net Loss (ga) Other Current Assets 26 19 Depreciation & Amortization 18 Total Current Assets $55 $47 FV of Warran
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 September 30, 2023 38.5% Note 10 Controlling interests ownership as of September 30, 2023 61.5% Common Shares as of September 30, 2023 Shares 10-Q Reference Common Stock Clas
Slide 10: Share Classes
Share Classes Controlling Interest Non-Controlling Interest Non-Controlling Interest Paired { tt Class A Unit ' Class V Common | Holders Class A Common Stock Vested Class P Units © 93,881,130 shares © 14,853,794 Units 61.5% 2.1% 36.4% voting and - economic interest voting and economic interest votin
Slide 11: Reported Net Income (Loss) to Adj. EBITDA
Non-GAAP Reconciliations: Reported Net Income (Loss) to Adj. EBITDA $M Q3 2023 Commentary Reported Net Loss ($2.5) + Depreciation and Amortization Expenses 18 Includes $8.4M related to impairment of intangible assets and PP&E associated with the sunset of certain products - Interest Income (0.01) In
Slide 12: Reported OPEX to Adj. OPEX
Non-GAAP Reconciliations: Reported OPEX to Adj. OPEX Product General & Sales & Marketing Development Administrative Total OPEX ($m) Q3 FY23 Q3FY23 Q3 FY23 Q3 FY23 GAAP OPEX (excluding Cost of revenues and D&A) $11.5 $7.7 $19.2 $38.5 Stock-Based Compensation (0.6) (0.9) (0.8) (2.3) M&A Transaction Co