secwatch.observer — SEC 8-K summary
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Issuer:     WM TECHNOLOGY, INC. (MAPS)
CIK:        0001779474
Form:       8-K
Filed at:   2022-11-07T23:59:59+00:00
Accession:  0001779474-22-000081
Event type: leadership
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1779474/000177947422000081/0001779474-22-000081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1779474/000177947422000081/maps-20221107.htm
  HTML page:      https://secwatch.observer/filing/0001779474-22-000081

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer