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Aug. 10, 2022, 9:05 a.m. EDT

WM Technology (Weedmaps) shares fall sharply after it misses revenue target and issues warning

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By Steve Gelsi


WM Technology Inc. /zigman2/quotes/214483293/composite MAPS -0.81% shares fell 31% in premarket trades on Wednesday after the cannabis marketplace warned that its 2022 revenue would be flat-to-down in the mid-single digit percentage range in the second half of 2022, while the FactSet consensus implies growth of about 19.7%. The company said its second-quarter profit more than doubled to $11.69 million, or 13 cents a share, from $4.26 million, or a loss of 17 cents a share, in the year-ago quarter. Second-quarter revenue climbed to $58.29 million from $46.93 million in the year-ago period. Weedmaps beat the analyst target for a loss of 2 cents a share but missed its revenue estimate of $61.9 million.

US : U.S.: Nasdaq
$ 1.23
-0.01 -0.81%
Volume: 1.17M
Nov. 28, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$181.58 million
Rev. per Employee

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