Filing Flows › WM Technology (MAPS) › Q3 2025
WM Technology (MAPS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
WM Technology (MAPS) reported revenue of $42.2M for the third quarter 2025 (Q3 2025), -9% from a year earlier and -6% from the quarter before. Operating margin was 4.6%, net earnings $2.5M (5.8% of revenue).
WM Technology, Q3 2025: revenue $42.2M (-9% year over year), operating margin 4.6%, net earnings $2.5M, operating cash flow $6.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $42.2M | -6% | -9% |
| Operating profit | $2.0M | -0.5% | -62% |
| Net earnings | $2.5M | +72% | -26% |
| Operating cash flow | $6.4M | -42% | -11% |
| Free cash flow | $3.6M | -57% | -27% |
What changed
Revenue was $42.2M in Q3 2025, down 9% year over year and down 6% from the previous quarter. Featured and deal listings was the largest line at 61% of revenue. Featured and deal listings lost $3.7M year over year (down 13%), 84% of the total change.
Operating profit was $2.0M, a 4.6% margin (down 6.5 points year over year). Total costs fell 3% while revenue fell 9%. The fastest-growing cost line was Sales & marketing (+11%). Net earnings were $2.5M, down 26% year over year. The effective tax rate was 0.4%. Non-operating items added $1.7M, 46% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $6.4M (down 11% year over year), 176% of net income including minority interests. Non-cash charges added back $3.1M of depreciation and amortization and $1.6M of share-based compensation. Working capital and other items used $1.8M. Capital expenditures of $2.9M left free cash flow of $3.6M.
Questions
What was WM Technology's revenue in the third quarter 2025?
WM Technology (MAPS) reported revenue of $42.2M for the third quarter 2025 (Q3 2025), -9% from a year earlier and -6% from the quarter before.
Was WM Technology profitable in the third quarter 2025?
Operating profit was $2.0M (4.6% of revenue) and net earnings $2.5M.
Source: WM Technology 10-Q on SEC EDGAR.