WM Technology, Inc. (NASDAQ:MAPS) General Counsel Brian Camire has recently sold a portion of his company stock, according to the latest filings. On June 7, 2024, Camire sold 70,851 shares of Class A common stock at an average price of $0.9795, totaling approximately $69,398.
These transactions were executed in a range of prices between $0.9901 and $0.9759, as the sales were made to cover applicable tax withholding obligations related to the vesting of restricted stock units and performance-based restricted stock units, along with any related brokerage commission fees. Following the sale, Camire still holds 696,718 shares of WM Technology's Class A common stock.
Investors often monitor insider transactions for insights into a company's performance and management's view of the firm's prospects. WM Technology, known for its services in prepackaged software, has its stock listed on the NASDAQ under the trading symbol MAPS.
WM Technology has not made any additional comments regarding the transaction. Shareholders and interested parties may request detailed information about the exact prices at which the shares were sold from the company, the SEC, or directly from the security holder.
In other recent news, WM Technology, Inc. is contending with a Nasdaq compliance issue due to delayed financial report filings. The technology firm received a delinquency notification from Nasdaq for failing to submit its quarterly report for the period ending March 31, 2024, and its annual report for the year ending December 31, 2023. The company attributes this delay to a recent change in executive finance leadership.
WM Technology has also announced preliminary financial results for 2023, with an expected revenue between approximately $185 million and $195 million. Its adjusted EBITDA is anticipated to be in the range of $33 million to $37 million. Notably, the firm reported an approximate 20% increase in cash on hand, with $34 million as of December 31, 2023.
These developments follow an earlier notice from Nasdaq, which gave the company until June 3, 2024, to present a plan to regain compliance. WM Technology is working diligently to finalize its financial statements and intends to file the annual report promptly. The filing of the quarterly report will follow the completion of the annual report.
InvestingPro Insights
Following the recent insider transaction by WM Technology, Inc.'s (NASDAQ:MAPS) General Counsel, investors might be seeking additional data points to gauge the company's financial health and market position. According to InvestingPro, WM Technology has a market capitalization of approximately $91.59 million, indicating a relatively small cap status which may appeal to certain investors looking for growth opportunities in the tech sector.
The company's impressive gross profit margin stands at 93.9% for the last twelve months as of Q1 2024, a testament to its ability to maintain profitability on the cost of goods sold. This metric, coupled with an adjusted P/E ratio of 12.74, suggests that while the company may have faced challenges, its core operations remain fundamentally robust. Moreover, despite recent stock performance indicated by a one-month price total return of -15.79%, analysts predict the company will be profitable this year, which could signal a potential turnaround for patient investors.
While WM Technology does not pay a dividend, suggesting a reinvestment strategy or potential for growth reinvestment, it operates with a moderate level of debt, which could be a point of consideration for risk-averse investors. For those interested in a deeper dive into WM Technology's financials and future prospects, InvestingPro offers additional InvestingPro Tips that could provide valuable insights. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further analysis and tips to inform your investment decisions. There are 6 additional tips available on InvestingPro for WM Technology, which could be instrumental in crafting a well-informed investment strategy.
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