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WM Technology Plunges as Q3 Revenue, Profit, Outlook All Fall Short -Breaking

by Mike Robinson

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© Reuters

By Dhirendra Tripathi

Investing.com – WM Technology stock (NASDAQ:) fell more than 21% Friday after the company disclosed disappointing July to September sales and profit and an outlook for the current quarter.

After a slow year, revenue rose by 9% to $51million in the third quarter.

The quarterly active user count of the software supplier to weed stakeholders increased by 1.6 Million during September to 13.9 Miil.

MAUs are the company’s definition of the number of users who open its Weedmaps app on their mobile device or visit its Weedmaps.com website in a given month.

At $3,817, the average monthly income per client has increased by 7%.

Analysts expected 2 cents per share, which was half the profit.

According to the company, its current quarter revenue is expected to reach $51 million. This figure matches what it received in September and July. It is also at the upper end of the range, with $52million.

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