Filing Flows › WM Technology (MAPS) › Q1 2026 › vs Q1 2025
WM Technology (MAPS) Q1 2026 vs Q1 2025 (year over year)
WM Technology's revenue fell $1.1M (-2%) from $44.6M in Q1 2025 to $43.6M in Q1 2026. The biggest changes: Other ad solutions −$1.5M (-39%); Subtotal +$416K (+1%). Operating margin 0.5% against 5.9% (-5.5 pts).
WM Technology, Q1 2026: revenue $43.6M (-2% year over year), operating margin 0.5%, net earnings $1.2M, operating cash flow −$1.3M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Operating margin | 0.5% | 5.9% | -5.5 pts |
| Net margin | 2.7% | 3.7% | -1.0 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Featured and deal listings | $27.8M | $27.2M | $613K | +2% |
| Weedmaps for Business and other SaaS solutions | $13.4M | $13.6M | −$197K | -1% |
| Subtotal | $41.3M | $40.8M | $416K | +1% |
| Other ad solutions | $2.3M | $3.8M | −$1.5M | -39% |
| Revenue | $43.6M | $44.6M | −$1.1M | -2% |
| Other income, net | $1.5M | −$144K | $1.7M | — |
| Operating profit | $199K | $2.6M | −$2.4M | -92% |
| Costs & expenses | $43.4M | $42.0M | $1.4M | +3% |
| Pre-tax earnings | $1.7M | $2.5M | −$777K | -31% |
| Cost of revenue | $2.2M | $2.2M | −$37K | -2% |
| Research & development | $8.7M | $9.7M | −$987K | -10% |
| Sales & marketing | $10.3M | $10.0M | $285K | +3% |
| General & admin | $19.1M | $16.7M | $2.4M | +14% |
| Other operating costs | $3.1M | $3.3M | −$261K | -8% |
| Net earnings | $1.2M | $1.6M | −$476K | -29% |
| Minority interests | $523K | $847K | −$324K | -38% |
| Income tax | $32K | $9K | $23K | +256% |
| Operating cash sources | $6.8M | $1.5M | $5.3M | +356% |
| Depreciation & amortization | $3.1M | $3.3M | −$261K | -8% |
| Share-based compensation | $1.3M | $2.2M | −$877K | -40% |
| Cash used in operations | $1.3M | −$5.7M | $7.0M | — |
| Working capital & other | $6.8M | $1.5M | $5.3M | +356% |
Questions
How much did WM Technology's revenue grow year over year in Q1 2026?
WM Technology's revenue fell $1.1M (-2%) from $44.6M in Q1 2025 to $43.6M in Q1 2026.
What drove WM Technology's revenue change in Q1 2026?
Other ad solutions −$1.5M (-39%); Subtotal +$416K (+1%).