2021 Q4 Form 10-K Financial Statement

#000177947422000010 Filed on February 25, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $54.18M $193.1M $0.00
YoY Change 19.38%
Cost Of Revenue $2.138M $7.938M
YoY Change 4.04%
Gross Profit $52.04M $185.2M
YoY Change 20.14%
Gross Profit Margin 96.05% 95.89%
Selling, General & Admin $55.49M $153.6M $0.00
YoY Change 87.63% -100.0%
% of Gross Profit 106.63% 82.92%
Research & Development $35.40M
YoY Change 30.41%
% of Gross Profit 19.11%
Depreciation & Amortization $1.455M $4.425M
YoY Change 11.24%
% of Gross Profit 2.8% 2.39%
Operating Expenses $56.95M $189.0M $3.025M
YoY Change 1782.62% 4790.0% 572.17%
Operating Profit -$4.906M -$8.178M
YoY Change -119.85%
Interest Expense -$50.35M
YoY Change -956.26%
% of Operating Profit
Other Income/Expense, Net $82.51M -$6.723M
YoY Change 183.91%
Pretax Income $77.60M $151.6M -$53.37M
YoY Change -245.4% 290.46% -1211.93%
Income Tax -$843.0K -$601.0K
% Of Pretax Income -1.09% -0.4%
Net Earnings $35.29M $60.38M -$53.37M
YoY Change -166.11% 55.51% -1570.33%
Net Earnings / Revenue 65.13% 31.26%
Basic Earnings Per Share
Diluted Earnings Per Share $521.9K $903.8K -$1.708M
COMMON SHARES
Basic Shares Outstanding 65.01M shares
Diluted Shares Outstanding 66.81M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.78M $67.78M $312.7K
YoY Change 21574.08% 21574.08% -65.25%
Cash & Equivalents $67.78M $19.92M
Short-Term Investments
Other Short-Term Assets $13.61M $13.61M $30.83K
YoY Change 44035.58% 44035.58% -89.72%
Inventory
Prepaid Expenses $30.83K
Receivables $17.55M $17.55M $9.428M
Other Receivables $0.00 $0.00
Total Short-Term Assets $98.93M $98.93M $34.17M
YoY Change 189.56% 28698.39% 2866.66%
LONG-TERM ASSETS
Property, Plant & Equipment $13.28M $49.83M $7.387M
YoY Change 79.82%
Goodwill $45.30M $3.961M
YoY Change 1043.52%
Intangibles $8.299M $4.505M
YoY Change 84.22%
Long-Term Investments $254.2M
YoY Change 0.91%
Other Assets $10.69M $162.8M $3.874M
YoY Change 175.86%
Total Long-Term Assets $266.2M $266.2M $19.73M
YoY Change 1249.47% 4.73% -92.17%
TOTAL ASSETS
Total Short-Term Assets $98.93M $98.93M $34.17M
Total Long-Term Assets $266.2M $266.2M $19.73M
Total Assets $365.1M $365.1M $53.89M
YoY Change 577.52% 43.46% -78.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.298M $4.298M $2.244M
YoY Change 91.53% 36.32%
Accrued Expenses $24.32M $24.32M
YoY Change
Deferred Revenue $8.057M $5.264M
YoY Change 53.06%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $37.80M $37.80M $23.25M
YoY Change 62.59% 1098.87% 23149.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $195.4M $1.374M
YoY Change -100.0% 169.78% -93.75%
Total Long-Term Liabilities $0.00 $195.4M $1.374M
YoY Change -100.0% 169.78% -93.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.80M $37.80M $23.25M
Total Long-Term Liabilities $0.00 $195.4M $1.374M
Total Liabilities $233.2M $301.6M $24.62M
YoY Change 847.1% 299.02% 178.32%
SHAREHOLDERS EQUITY
Retained Earnings $61.37M $0.00
YoY Change -100.0%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $63.56M $63.56M $0.00
YoY Change
Total Liabilities & Shareholders Equity $365.1M $365.1M $53.89M
YoY Change 577.52% 43.46% -78.7%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $35.29M $60.38M -$53.37M
YoY Change -166.11% 55.51% -1570.33%
Depreciation, Depletion And Amortization $1.455M $4.425M
YoY Change 11.24%
Cash From Operating Activities -$2.081M $23.09M -$310.9K
YoY Change 569.28% -40.21% 210.93%
INVESTING ACTIVITIES
Capital Expenditures -$3.689M $7.935M
YoY Change 505.26%
Acquisitions $16.00M
YoY Change
Other Investing Activities -$3.500M -$22.50M $0.00
YoY Change
Cash From Investing Activities -$7.189M -$30.44M $0.00
YoY Change 2221.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -888.0K $55.20M 0.000
YoY Change -346.9%
NET CHANGE
Cash From Operating Activities -2.081M $23.09M -310.9K
Cash From Investing Activities -7.189M -$30.44M 0.000
Cash From Financing Activities -888.0K $55.20M 0.000
Net Change In Cash -10.16M $47.86M -310.9K
YoY Change 3166.97% 220.1% 210.93%
FREE CASH FLOW
Cash From Operating Activities -$2.081M $23.09M -$310.9K
Capital Expenditures -$3.689M $7.935M
Free Cash Flow $1.608M $15.16M
YoY Change -59.37%

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2793000 USD
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
935000 USD
CY2019 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
165000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
38620000 USD
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6295000 USD
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7935000 USD
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1311000 USD
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5129000 USD
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
16000000 USD
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2021 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
6500000 USD
CY2020 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
0 USD
CY2019 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
0 USD
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-30435000 USD
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1311000 USD
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5129000 USD
CY2021 maps Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
79969000 USD
CY2020 maps Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
0 USD
CY2019 maps Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
0 USD
CY2021 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
0 USD
CY2020 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
0 USD
CY2019 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
-5020000 USD
CY2021 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
205000 USD
CY2020 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2019 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2021 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
18998000 USD
CY2020 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
21952000 USD
CY2019 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
15382000 USD
CY2021 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
5565000 USD
CY2020 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
406000 USD
CY2019 us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
1567000 USD
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
55201000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-22358000 USD
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-21969000 USD
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
47858000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14951000 USD
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-20803000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19919000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4968000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25771000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67777000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19919000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4968000 USD
CY2021 us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2019 us-gaap Interest Paid Net
InterestPaidNet
157000 USD
CY2020 maps Tax Receivable Agreement Liability
TaxReceivableAgreementLiability
0 USD
CY2019 maps Tax Receivable Agreement Liability
TaxReceivableAgreementLiability
0 USD
CY2021 maps Reverse Recapitalization Deferred Tax Assets
ReverseRecapitalizationDeferredTaxAssets
151255000 USD
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
242000 USD
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
1336000 USD
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
118000 USD
CY2021 maps Reverse Recapitalization Initial Fair Value Of Warrant Liability Recognized
ReverseRecapitalizationInitialFairValueOfWarrantLiabilityRecognized
193978000 USD
CY2020 maps Reverse Recapitalization Initial Fair Value Of Warrant Liability Recognized
ReverseRecapitalizationInitialFairValueOfWarrantLiabilityRecognized
0 USD
CY2019 maps Reverse Recapitalization Initial Fair Value Of Warrant Liability Recognized
ReverseRecapitalizationInitialFairValueOfWarrantLiabilityRecognized
0 USD
CY2021 maps Tax Receivable Agreement Liability
TaxReceivableAgreementLiability
128567000 USD
CY2020 maps Reverse Recapitalization Deferred Tax Assets
ReverseRecapitalizationDeferredTaxAssets
0 USD
CY2019 maps Reverse Recapitalization Deferred Tax Assets
ReverseRecapitalizationDeferredTaxAssets
0 USD
CY2021 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
1053000 USD
CY2020 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
0 USD
CY2019 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
0 USD
CY2021 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
29312000 USD
CY2020 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
0 USD
CY2019 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
0 USD
CY2021 maps Holdback Liability Recognized In Connection With Acquisition
HoldbackLiabilityRecognizedInConnectionWithAcquisition
1000000 USD
CY2020 maps Holdback Liability Recognized In Connection With Acquisition
HoldbackLiabilityRecognizedInConnectionWithAcquisition
0 USD
CY2019 maps Holdback Liability Recognized In Connection With Acquisition
HoldbackLiabilityRecognizedInConnectionWithAcquisition
0 USD
CY2021 us-gaap Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
100000 USD
CY2020 us-gaap Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
USD
CY2019 us-gaap Business Combination Consideration Transferred Liabilities Incurred
BusinessCombinationConsiderationTransferredLiabilitiesIncurred
USD
CY2021 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1099000 USD
CY2020 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 USD
CY2019 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 USD
CY2021 us-gaap Nature Of Operations
NatureOfOperations
Business and Organization<div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">WM Technology, Inc. (the “Company”) is one of the oldest and largest marketplace and technology solutions providers exclusively servicing the cannabis industry, primarily consumers, retailers and brands in the United States state-legal and Canadian cannabis markets. The Company’s business consists of its commerce-driven marketplace, Weedmaps, and its monthly subscription software offering, WM Business. The Company’s Weedmaps marketplace provides information on the cannabis plant and the industry and advocates for legalization. The Weedmaps marketplace provides consumers with information regarding cannabis retailers and brands, as well as the strain, pricing, and other information regarding locally available cannabis products, through our website and mobile apps, permitting product discovery, access to deals and discounts, and reservation of products for pickup by consumers or delivery to consumers by participating retailers. WM Business, the Company’s subscription package, is a comprehensive set of eCommerce and compliance software solutions catered towards cannabis retailers, delivery services and brands where clients receive access to a standard listing page and its suite of software solutions, including WM Orders, WM Dispatch, WM Store, WM Dashboard, integrations and API platform, as well as access to its WM Retail and WM Exchange products, where available. The Company charges a monthly fee to clients for access to its WM Business subscription package and then offer other add-on products for additional fees, including our featured listings and our Sprout (customer relationship management) and Cannveya (delivery and logistics software) solutions. The Company sells its WM Business offering in the United States, currently offers some of its WM Business solutions in Canada and has a limited number of non-monetized listings in several other countries, including Austria, Germany, the Netherlands, Spain, and Switzerland. The Company operates in the United States, Canada, and other foreign jurisdictions where medical and/or adult cannabis use is legal under state or applicable national law. The Company is headquartered in Irvine, California.</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">WM Technology, Inc. was initially incorporated in the Cayman Islands on June 7, 2019 under the name “Silver Spike Acquisition Corp.” (“Silver Spike”). Silver Spike was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. On June 16, 2021 (the “Closing Date”), Silver Spike consummated the business combination (the “Business Combination”), pursuant to that certain Agreement and Plan of Merger, dated December 10, 2020 (the “Merger Agreement”), by and among Silver Spike, Silver Spike Merger Sub LLC, a Delaware limited liability company and a wholly owned direct subsidiary of Silver Spike Acquisition Corp. (“Merger Sub”), WM Holding Company, LLC, a Delaware limited liability company (when referred to in its pre-Business Combination capacity, “Legacy WMH” and following the Business Combination, “WMH LLC”), and Ghost Media Group, LLC, a Nevada limited liability company, solely in its capacity as the initial holder representative (the “Holder Representative”). On the Closing Date, and in connection with the closing of the Business Combination (the “Closing”), Silver Spike was domesticated and continues as a Delaware corporation, changing its name to WM Technology, Inc.</span></div>The Company was reorganized into an Up-C structure, in which substantially all of the assets and business of the Company are held by WMH LLC and continue to operate through WMH LLC and its subsidiaries, and WM Technology, Inc.’s material assets are the equity interests of WMH LLC indirectly held by it. Legacy WMH was determined to be the accounting acquirer in the Business Combination, which was accounted for as a reverse recapitalization in accordance with accounting principles generally accepted in the United States of America (“GAAP”).
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant estimates made by management include, among others, the valuation of accounts receivable, the useful lives of long-lived assets, income taxes, website and internal-use software development costs, leases, valuation of goodwill and other intangible assets, valuation of warrant liability, deferred tax asset, tax receivable agreement liability, revenue recognition, stock-based compensation, and the recognition and disclosure of contingent liabilities.</span></div>
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
5200000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
900000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
857000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
914000 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
734000 USD
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
5487000 USD
CY2020 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1271000 USD
CY2019 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
180000 USD
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1175000 USD
CY2020 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1328000 USD
CY2019 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 USD
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
5169000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
857000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
914000 USD
CY2021Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
6500000 USD
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
193146000 USD
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
161791000 USD
CY2021Q4 maps Tax Receivable Agreement Liabilities As Percent Of Expected Benefit
TaxReceivableAgreementLiabilitiesAsPercentOfExpectedBenefit
0.85
CY2021Q4 maps Tax Receivable Agreement Percent Recorded In Additional Paid In Capital
TaxReceivableAgreementPercentRecordedInAdditionalPaidInCapital
0.15
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5300000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4300000 USD
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8100000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
144232000 USD
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
193146000 USD
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
161791000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
144232000 USD
CY2021 us-gaap Advertising Expense
AdvertisingExpense
17700000 USD
CY2020 us-gaap Advertising Expense
AdvertisingExpense
10600000 USD
CY2019 us-gaap Advertising Expense
AdvertisingExpense
20600000 USD
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
43300000 USD
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s financial instruments are potentially subject to concentrations of credit risk. The Company places its cash with high quality credit institutions. From time to time, the Company maintains cash balances at certain institutions in excess of the Federal Deposit Insurance Corporation limit. Management believes that the risk of loss is not significant and has not experienced any losses in such accounts.</span></div>
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
43300000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
48400000 USD
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
9229000 USD
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
2217000 USD
CY2021 maps Lease Cost Excluding Short Term Lease Cost
LeaseCostExcludingShortTermLeaseCost
11446000 USD
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
88000 USD
CY2021 us-gaap Lease Cost
LeaseCost
11534000 USD
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
8200000 USD
CY2021 us-gaap Lease Cost
LeaseCost
11500000 USD
CY2020 us-gaap Lease Cost
LeaseCost
11100000 USD
CY2019 us-gaap Lease Cost
LeaseCost
5600000 USD
CY2021 maps Operating Leases Contra Rent Expense
OperatingLeasesContraRentExpense
200000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
9597000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9898000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9405000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5830000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5408000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
24325000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
64463000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
19623000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
44840000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y4M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.098
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
2400000 USD
CY2021Q2 maps Reverse Recapitalization Period Of Exchange Agreement
ReverseRecapitalizationPeriodOfExchangeAgreement
P180D
CY2021Q2 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
1 shares
CY2020Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
0 USD
CY2021 maps Reverse Merger Warrant Liabilities Acquired
ReverseMergerWarrantLiabilitiesAcquired
193978000 USD
CY2021 us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
-166518000 USD
CY2021Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
27460000 USD
CY2021 maps Cash Acquired Through Reverse Recapitalization
CashAcquiredThroughReverseRecapitalization
254203000 USD
CY2021 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
325000000 USD
CY2021 maps Reverse Recapitalization Cash Paid To Shareholders
ReverseRecapitalizationCashPaidToShareholders
455182000 USD
CY2021 maps Payments Of Reverse Recapitalization Transaction Costs
PaymentsOfReverseRecapitalizationTransactionCosts
44052000 USD
CY2021 maps Proceeds From Reverse Recapitalization Transaction
ProceedsFromReverseRecapitalizationTransaction
79969000 USD
CY2021 maps Reverse Recapitalization Initial Fair Value Of Warrant Liability Recognized
ReverseRecapitalizationInitialFairValueOfWarrantLiabilityRecognized
193978000 USD
CY2021 maps Transaction Costs Allocated To Warrants
TransactionCostsAllocatedToWarrants
5547000 USD
CY2021 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
1053000 USD
CY2021 maps Reverse Recapitalization Deferred Tax Assets
ReverseRecapitalizationDeferredTaxAssets
151255000 USD
CY2021 maps Tax Receivable Agreement Liability
TaxReceivableAgreementLiability
128567000 USD
CY2021 maps Reverse Recapitalization Net
ReverseRecapitalizationNet
-84721000 USD
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
129240910 shares
us-gaap Net Income Loss
NetIncomeLoss
137100000 USD
CY2021 us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
-166500000 USD
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
29300000 USD
CY2021 maps Transaction Costs Allocated To Warrants
TransactionCostsAllocatedToWarrants
5500000 USD
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther
100000 USD
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
31186000 USD
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2021 maps Holdback Liability Recognized In Connection With Acquisition
HoldbackLiabilityRecognizedInConnectionWithAcquisition
1000000 USD
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2020Q4 us-gaap Goodwill
Goodwill
3961000 USD
CY2021Q4 us-gaap Goodwill
Goodwill
45295000 USD
CY2021 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P10Y4M24D
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
15803000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7504000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8299000 USD
CY2021Q1 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P13Y2M12D
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
10724000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6219000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4505000 USD
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1300000 USD
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
900000 USD
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3400000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2094000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1696000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1517000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1186000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
939000 USD
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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