---
title: "WM Tech - CW24 | 8-K: FY2025 Q4 Revenue: USD 43.07 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278939841.md"
datetime: "2026-03-12T20:35:44.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278939841.md)
  - [en](https://longbridge.com/en/news/278939841.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278939841.md)
---

# WM Tech - CW24 | 8-K: FY2025 Q4 Revenue: USD 43.07 M

Revenue: As of FY2025 Q4, the actual value is USD 43.07 M.

EPS: As of FY2025 Q4, the actual value is USD -0.03.

EBIT: As of FY2025 Q4, the actual value is USD -6.296 M.

#### Fourth Quarter 2025 Financial Highlights

-   Net loss was -$5.0 million, compared to net income of $3.7 million in the prior year period.
-   Adjusted EBITDA was $10.4 million, a decrease from $11.9 million in the prior year period.
-   Average monthly paying clients were 5,120, a decrease from 5,225 in the prior year period.
-   Average monthly revenues per paying client were $2,804, a decrease from $3,041 in the prior year period.

#### Fiscal Year 2025 Financial Highlights

-   Net income was $3.3 million, a decrease from $12.2 million in the prior year.
-   Adjusted EBITDA was $39.8 million, a decrease from $42.9 million in the prior year.
-   Average monthly paying clients were 5,190, an increase from 5,077 in the prior year.
-   Average monthly revenues per paying client were $2,805, a decrease from $3,029 in the prior year.
-   Total shares outstanding were 157.8 million as of December 31, 2025.
-   Cash was $62.4 million as of December 31, 2025, compared to $52.0 million as of December 31, 2024.

#### Consolidated Statements of Operations (Years Ended December 31)

-   Total costs and expenses were $173,938 thousand in 2025, compared to $169,749 thousand in 2024.
    -   Cost of revenues was $8,833 thousand in 2025, compared to $9,019 thousand in 2024.
    -   Sales and marketing expenses were $38,869 thousand in 2025, compared to $40,424 thousand in 2024.
    -   Product development expenses were $28,136 thousand in 2025, compared to $36,426 thousand in 2024.
    -   General and administrative expenses were $76,929 thousand in 2025, compared to $70,602 thousand in 2024.
    -   Depreciation and amortization were $13,394 thousand in 2025, compared to $13,278 thousand in 2024.
    -   Asset impairment charges were $7,777 thousand in 2025, compared to $0 thousand in 2024.
-   Operating income was $766 thousand in 2025, compared to $14,765 thousand in 2024.
-   Net income (loss) attributable to WM Technology, Inc. was $1,962 thousand in 2025, compared to $7,639 thousand in 2024.

#### Consolidated Statements of Cash Flows (Years Ended December 31)

-   Net cash provided by operating activities was $26,188 thousand in 2025, compared to $36,676 thousand in 2024.
-   Net cash used in investing activities was -$12,685 thousand in 2025, compared to -$11,637 thousand in 2024.
-   Net cash used in financing activities was -$3,068 thousand in 2025, compared to -$7,423 thousand in 2024.
-   Cash at the end of the year was $62,401 thousand in 2025, compared to $51,966 thousand in 2024.

#### Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA (Years Ended December 31)

-   EBITDA was $14,951 thousand in 2025, compared to $25,089 thousand in 2024.
-   Adjusted EBITDA was $39,847 thousand in 2025, compared to $42,919 thousand in 2024.

#### Business Outlook

WM TECHNOLOGY, INC. expects first quarter 2026 revenue to decline by mid- to high-single digit percentages sequentially from the fourth quarter. Adjusted EBITDA guidance will not be provided at this time due to the focus on opportunistic investments and potential variability in timing. The Company remains committed to maintaining a strong balance sheet and financial discipline.

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