---
schema_version: "secwatch.filing_event.v1"
accession: "0001779474-22-000081"
form_type: "8-K"
ticker: "MAPS"
cik: "0001779474"
company_name: "WM TECHNOLOGY, INC."
filed_at: "2022-11-07T23:59:59+00:00"
generated_at: "2026-06-22T05:42:03.727676+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# WM Technology Q3 net loss $10.5M; CEO Chris Beals resigns

## Summary
- Revenue $50.5M, flat vs $50.9M in Q3 2021; monthly paying clients up 25% to 5,576 but ARPU down 21% to $3,019.
- Net loss of $10.5M vs net income of $49.2M a year ago; adjusted EBITDA loss of $9.6M vs positive $10.4M.
- Basic and diluted loss per share $0.06; cash $34.2M with no long-term debt.
- CEO Chris Beals resigned as CEO and director effective Nov 7; interim CEO is co-founder and Executive Chair Doug Francis.
- Separation agreement includes 12-month base salary severance, one-year COBRA, target bonus, and vesting of 292,969 RSUs.

## SEC filing metadata
- accession: 0001779474-22-000081
- form_type: 8-K
- ticker: MAPS
- cik: 0001779474
- company_name: WM TECHNOLOGY, INC.
- filed_at: 2022-11-07T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1779474/000177947422000081/0001779474-22-000081-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1779474/000177947422000081/maps-20221107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001779474-22-000081
- JSON: https://secwatch.observer/filing/0001779474-22-000081.json
- Plain text: https://secwatch.observer/filing/0001779474-22-000081.txt

## Key facts
- Earnings Releases
  WM TECHNOLOGY, INC. reported the third quarter ended September 30, 2022 results: revenue $50.5 million, net income $10.5 million, EPS $0.06.
  - Period: the third quarter ended September 30, 2022
  - Revenue: $50.5 million
  - Net income: $10.5 million
  - EPS: $0.06
  - Result: reported results
  source text: Revenue was $50.5 million as compared to $50.9 million in the third quarter of 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1779474/000177947422000081/0001779474-22-000081-index.htm
- Executive change
  Chris Beals resigned as Chief Executive Officer and director at WM TECHNOLOGY, INC..
  - Action: resigned
  - Role: Chief Executive Officer and director
  source text: On November 3, 2022, Chris Beals, the Company’s Chief Executive Officer and director, tendered his resignation from his role as Chief Executive Officer and from the Board of Directors, effective November 7, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1779474/000177947422000081/0001779474-22-000081-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.