---
schema_version: "secwatch.filing_event.v1"
accession: "0001779474-24-000021"
form_type: "8-K"
ticker: "MAPS"
cik: "0001779474"
company_name: "WM TECHNOLOGY, INC."
filed_at: "2024-05-24T23:59:59+00:00"
generated_at: "2026-06-01T08:47:35.130277+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# WM Technology restates 2023 quarterly results due to revenue recognition error; reports Q1 2024 net income of $2.0M

## Summary
- Non-reliance on Q1, Q2, Q3 2023 financials; revenue overstated by $1.6M, $4.0M, $5.1M respectively with no impact to operating or net income.
- Q1 2024 net income of $2.0M vs net loss of $4.0M YoY; Adjusted EBITDA $9.6M vs $7.1M YoY.
- Q1 2024 revenue $44.4M down 4% YoY; average monthly paying clients 4,937 (-13% YoY).
- Cash $35.7M as of March 31, 2024, up 38% from $25.9M a year ago.
- Company now current on SEC and Nasdaq periodic reporting requirements with filings of 10-K and 10-Q.

## SEC filing metadata
- accession: 0001779474-24-000021
- form_type: 8-K
- ticker: MAPS
- cik: 0001779474
- company_name: WM TECHNOLOGY, INC.
- filed_at: 2024-05-24T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1779474/000177947424000021/0001779474-24-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1779474/000177947424000021/maps-20240520.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001779474-24-000021
- JSON: https://secwatch.observer/filing/0001779474-24-000021.json
- Plain text: https://secwatch.observer/filing/0001779474-24-000021.txt

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