WM Technology, Inc. (NASDAQ:MAPS) Q3 2023 Earnings Call Transcript
WM Technology, Inc. (NASDAQ:MAPS) Q3 2023 Earnings Call Transcript November 8, 2023
WM Technology, Inc. beats earnings expectations. Reported EPS is $-0.02, expectations were $-0.05.
Operator: Good afternoon, everyone, and welcome to WM Technology Inc.'s Third Quarter 2023 Earnings Conference Call. I would now like to turn the call over to your host Brian Camire, General Counsel.
Brian Camire: Hi, everyone. Thanks for joining us to discuss our fiscal 2023 third quarter results. We have our Executive Chair, Doug Francis; and Interim CFO, Mary Hoitt with us today. By now everyone should have access to our earnings announcement and supporting slide deck on our Investor Relations website. During this call, we'll make forward-looking statements about our business outlook, strategies and long-term goals. Keep in mind that forward-looking statements are not guarantees of future performance and are subject to a variety of risks and uncertainties, some of which are beyond our control. Our actual results could differ materially from expectations reflected in any forward-looking statements. For a discussion of the risks and other important factors that could affect our actual results, please refer to our SEC filings available on the SEC's website and our Investor Relations website as well as the risks and other important factors discussed in today's earnings release.
We specifically disclaim any intent or obligation to update these forward-looking statements except as required by law. For the benefit of those who may be listening to the replay or archived webcast this call was held on November 8, 2023. Since then we may have made announcements related to the topics discussed, so please refer to the company's most recent press releases and SEC filings. We will also discuss non-GAAP financial measures alongside those prepared in accordance with GAAP. Non-GAAP financial measures should be considered in addition to but not as a substitute for the information prepared in accordance with GAAP. You can find our reconciliation of these measures to our GAAP results in our earnings presentation on our Investor Relations website.
And finally today's call is being webcasted from our Investor Relations website and an audio replay will be there soon. Please note, we will not be holding a Q&A session on this call. With that I'll turn the call over to Doug.
Doug Francis: Thanks Brian and hello to everyone joining us today. Last quarter we discussed the concept of controlling what we can control, which means measured execution in the face of multidimensional headwinds take the wins we use where you can get them and prepare for future catalysts. I believe we did just that in the third quarter and demonstrated our teams continue to tune in with tight and more focused execution. Our team broadly navigated the continued headwinds in our legacy markets while driving our growth in our target markets including MSOs. For the third quarter in a row, we beat expectations for revenue and adjusted EBITDA while generating positive cash flow. In Q3, we had revenue of $48 million and adjusted EBITDA of $11 million.
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