Added to YB: 2026-03-17
Pitch date: 2026-03-13
MAPS [bullish]
WM Technology, Inc.
-3.86%
current return
Author Info
No bio for this author
Company Info
WM Technology, Inc., an online cannabis marketplace, provides ecommerce and compliance software solutions to retailers and brands in cannabis market in the United States and internationally.
Market Cap
$75.3M
Pitch Price
$0.68
Price Target
2.75 (+306%)
Dividend
N/A
EV/EBITDA
3.14
P/E
36.77
EV/Sales
0.65
Sector
Software
Category
value
MAPS: Fortifying the Record Before the Bid
MAPS: Standalone value est. ~$2.75/share vs sub-$1 tape. FY25 rev $174.7M, adj EBITDA $39.8M, OCF $26.2M, cash $62.4M (≈$0.39/sh). At $0.70-$1.00, trades 1.2x-2.4x EBITDA. Bear/base/bull: $1.50/$2.50/$3.75. Key catalysts: 280E relief (64% prob by 2027), fed hemp reset (Nov '26). Risks: founders' prior $1.70 bid withdrawn but reserved right to return; TRA adds $100M+ for competing buyers, deterring market check; Q4 loss, internal control weaknesses. Author built public record pre-10-K on valuation/process concerns, sees tape as affected by deficiency clock & cannabis fatigue, not intrinsic value.
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