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Side-by-side financial comparison of WM TECHNOLOGY, INC. (MAPS) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
Target Hospitality Corp. is the larger business by last-quarter revenue ($73.5M vs $43.1M, roughly 1.7× WM TECHNOLOGY, INC.). WM TECHNOLOGY, INC. runs the higher net margin — -8.3% vs -20.3%, a 12.0% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs -9.7%). Over the past eight quarters, Target Hospitality Corp.'s revenue compounded faster (0.7% CAGR vs -1.5%).
WM Entertainment is a South Korean entertainment company established in 2008 by former singer Lee Won-min. The company is responsible for managing artist Oh My Girl. On April 7, 2021, the company was acquired by RBW.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
MAPS vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.1M | $73.5M |
| Net Profit | $-3.6M | $-14.9M |
| Gross Margin | 94.9% | 9.6% |
| Operating Margin | -13.5% | -22.9% |
| Net Margin | -8.3% | -20.3% |
| Revenue YoY | -9.7% | 22.0% |
| Net Profit YoY | -251.9% | -219.1% |
| EPS (diluted) | — | $-0.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $43.1M | $73.5M | ||
| Q3 25 | $42.2M | $91.6M | ||
| Q2 25 | $44.8M | $54.9M | ||
| Q1 25 | $44.6M | $54.9M | ||
| Q4 24 | $47.7M | $60.2M | ||
| Q3 24 | $46.6M | $65.8M | ||
| Q2 24 | $45.9M | $67.5M | ||
| Q1 24 | $44.4M | $72.4M |
| Q4 25 | $-3.6M | $-14.9M | ||
| Q3 25 | $2.5M | $-795.0K | ||
| Q2 25 | $1.4M | $-14.9M | ||
| Q1 25 | $1.6M | $-6.5M | ||
| Q4 24 | $2.4M | $12.5M | ||
| Q3 24 | $3.3M | $20.0M | ||
| Q2 24 | $716.0K | $18.4M | ||
| Q1 24 | $1.2M | $20.4M |
| Q4 25 | 94.9% | 9.6% | ||
| Q3 25 | 95.0% | 19.6% | ||
| Q2 25 | 94.9% | -0.6% | ||
| Q1 25 | 95.0% | 32.7% | ||
| Q4 24 | 95.2% | 61.5% | ||
| Q3 24 | 95.3% | 68.7% | ||
| Q2 24 | 95.1% | 69.4% | ||
| Q1 24 | 94.8% | 67.8% |
| Q4 25 | -13.5% | -22.9% | ||
| Q3 25 | 4.6% | 0.1% | ||
| Q2 25 | 4.4% | -30.8% | ||
| Q1 25 | 5.9% | -2.0% | ||
| Q4 24 | 9.6% | 34.5% | ||
| Q3 24 | 11.2% | 42.5% | ||
| Q2 24 | 2.7% | 43.8% | ||
| Q1 24 | 8.5% | 42.0% |
| Q4 25 | -8.3% | -20.3% | ||
| Q3 25 | 5.8% | -0.9% | ||
| Q2 25 | 3.2% | -27.2% | ||
| Q1 25 | 3.7% | -11.8% | ||
| Q4 24 | 4.9% | 20.8% | ||
| Q3 24 | 7.2% | 30.4% | ||
| Q2 24 | 1.6% | 27.2% | ||
| Q1 24 | 2.8% | 28.2% |
| Q4 25 | — | $-0.14 | ||
| Q3 25 | — | $-0.01 | ||
| Q2 25 | — | $-0.15 | ||
| Q1 25 | $0.02 | $-0.07 | ||
| Q4 24 | — | $0.12 | ||
| Q3 24 | — | $0.20 | ||
| Q2 24 | — | $0.18 | ||
| Q1 24 | $0.01 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $62.4M | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $57.2M | $389.3M |
| Total Assets | $190.7M | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $62.4M | $8.3M | ||
| Q3 25 | — | $30.4M | ||
| Q2 25 | — | $19.2M | ||
| Q1 25 | — | $34.5M | ||
| Q4 24 | $52.0M | $190.7M | ||
| Q3 24 | — | $177.7M | ||
| Q2 24 | — | $154.3M | ||
| Q1 24 | — | $124.3M |
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $57.2M | $389.3M | ||
| Q3 25 | $56.9M | $402.4M | ||
| Q2 25 | $52.7M | $401.3M | ||
| Q1 25 | $48.5M | $415.3M | ||
| Q4 24 | $36.1M | $421.1M | ||
| Q3 24 | $29.5M | $417.6M | ||
| Q2 24 | $24.5M | $397.2M | ||
| Q1 24 | $20.8M | $375.5M |
| Q4 25 | $190.7M | $530.2M | ||
| Q3 25 | $192.9M | $541.2M | ||
| Q2 25 | $188.1M | $533.7M | ||
| Q1 25 | $183.8M | $562.5M | ||
| Q4 24 | $181.9M | $725.8M | ||
| Q3 24 | $173.6M | $709.8M | ||
| Q2 24 | $168.0M | $697.0M | ||
| Q1 24 | $165.8M | $687.2M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.48× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.0M | $5.7M |
| Free Cash FlowOCF − Capex | $-280.0K | — |
| FCF MarginFCF / Revenue | -0.7% | — |
| Capex IntensityCapex / Revenue | 7.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $13.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $5.7M | ||
| Q3 25 | $6.4M | $53.4M | ||
| Q2 25 | $11.1M | $11.1M | ||
| Q1 25 | $5.7M | $3.9M | ||
| Q4 24 | $9.4M | $30.6M | ||
| Q3 24 | $7.2M | $31.4M | ||
| Q2 24 | $12.7M | $39.1M | ||
| Q1 24 | $7.4M | $50.6M |
| Q4 25 | $-280.0K | — | ||
| Q3 25 | $3.6M | — | ||
| Q2 25 | $8.2M | — | ||
| Q1 25 | $2.0M | $-11.6M | ||
| Q4 24 | $7.3M | — | ||
| Q3 24 | $4.9M | — | ||
| Q2 24 | $10.1M | — | ||
| Q1 24 | $2.9M | — |
| Q4 25 | -0.7% | — | ||
| Q3 25 | 8.4% | — | ||
| Q2 25 | 18.3% | — | ||
| Q1 25 | 4.5% | -21.1% | ||
| Q4 24 | 15.2% | — | ||
| Q3 24 | 10.4% | — | ||
| Q2 24 | 21.9% | — | ||
| Q1 24 | 6.4% | — |
| Q4 25 | 7.7% | — | ||
| Q3 25 | 6.8% | — | ||
| Q2 25 | 6.3% | — | ||
| Q1 25 | 8.2% | 28.2% | ||
| Q4 24 | 4.5% | — | ||
| Q3 24 | 5.1% | — | ||
| Q2 24 | 5.7% | — | ||
| Q1 24 | 10.2% | — |
| Q4 25 | — | — | ||
| Q3 25 | 2.61× | — | ||
| Q2 25 | 7.75× | — | ||
| Q1 25 | 3.44× | — | ||
| Q4 24 | 4.00× | 2.44× | ||
| Q3 24 | 2.17× | 1.57× | ||
| Q2 24 | 17.67× | 2.13× | ||
| Q1 24 | 5.97× | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MAPS
| Services | $39.5M | 92% |
| Other | $3.6M | 8% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
