People type this question with "reddit" on the end of it, and the reason is not mysterious. Nearly every comparison of these two platforms was written by somebody who sells one of them, or who sells against both.
So here is the version nobody publishes. Both platforms are owned by companies that file with the Securities and Exchange Commission, which means their client counts, their revenue and what the average client pays are matters of public record rather than of marketing. Every number below comes from those filings, with the filing and the date attached.
What the two companies actually are
Weedmaps is operated by WM Technology, Inc., which trades as MAPS and files quarterly. Its most recent quarterly report describes the business as a "commerce-driven marketplace" plus a software suite sold as Weedmaps for Business.
Leafly is operated by Leafly Holdings, Inc. It filed a Form 25 in March 2025, ran a going-private transaction under Schedule 13E-3 through the spring, and filed a Form 15-12G in June 2025 to deregister. Its own Form 8-K sets out the mechanism plainly:
Following the Reverse Stock Split, the number of issued and outstanding shares of common stock issued and outstanding will be reduced from approximately 3.15 million shares to approximately 5,000 shares and the number of record holders will be reduced below 300, which would allow us to deregister pursuant to Section 12(g) of the Securities Exchange Act of 1934 ... and suspend our reporting obligations.
Leafly Holdings, Inc., Form 8-K filed 18 June 2025
Its last periodic report of any kind is the quarterly report filed on 15 May 2025. That is a neutral fact with a practical consequence: for a dispensary weighing the two, one platform's operating numbers can be checked every quarter and the other's cannot be checked at all.
The numbers
WM Technology, quarter ended 30 June 2026, from its Form 10-Q filed 6 August 2026:
- Revenue $42.4 million, against $44.8 million a year earlier.
- Average monthly paying clients 5,040, against 5,241.
- Average monthly revenue per paying client $2,807, against $2,852.
- Roughly 8,100 active listing pages across those 5,040 clients.
- Net income $2.9 million; adjusted EBITDA $5.0 million, down from $11.7 million; cash $60.5 million.
Leafly Holdings, quarter ended 31 March 2025, its last published quarter, from its Form 10-Q filed 15 May 2025:
- Total revenue $7.882 million, against $9.048 million a year earlier, down 13 percent.
- Retail revenue $6.946 million, brands $936 thousand.
- Ending retail accounts 3,362, against 3,840, down 12 percent.
- Retailer average revenue per account $684 a month, against $677.
That same filing carried a going-concern warning, citing "substantial doubt regarding the Company's ability to continue as a going concern because it does not currently have the ability to repay the convertible notes due in July 2025", against $25.7 million of notes maturing on 1 July 2025. Worth stating precisely what that is and is not: it is what the last public filing said in May 2025. It is not a statement about the company today, which nobody outside it can make.
Why these are not apples to apples
The fourfold spend gap is the headline, and it comes with two qualifications that any honest reading has to carry.
The client definitions differ. Weedmaps counts "average monthly paying clients", and its filing states these "include retailers, brands and other client types (such as doctors)". Leafly counts "ending retail accounts", retailers only, and notes an account "can include more than one retailer". So $2,807 is an average across a mixed client base that includes brands buying advertising, while $684 is retail-only. The gap is real. It is not a like-for-like price comparison.
The periods differ by five quarters, and not by choice. Leafly's figures cannot be brought forward because the company no longer publishes them.
A third point sits underneath both. Weedmaps notes its clients "can choose to purchase multiple listings solutions for each business", and reports about 8,100 active listing pages against 5,040 clients, so the average client is buying more than one thing. An average is not a quote, and neither company publishes a rate card.
One difference that has nothing to do with money
Your listings live on their domains, which means their crawler policy governs whether an assistant can read your listing. We fetched both files on 8 September 2026.
Leafly disallows GPTBot across the site, with a short list of article-level exceptions, and disallows meta-externalagent. It leaves OAI-SearchBot unrestricted. Weedmaps carries no AI-specific groups at all.
Read against OpenAI's own documentation, which separates the crawler that governs ChatGPT search visibility from the one that governs training, Leafly's configuration is a deliberate opt-out of training rather than of search. The AI search spoke explains that distinction and why it is the one people get backwards. Both files can change tomorrow, so the date matters more than the finding.
What neither of them is
Both are places you rent visibility. Neither is an asset you own, and the difference shows up the moment you stop paying.
That is not an argument against using them. It is an argument for knowing which column the spend belongs in. Google's local ranking documentation names two prominence inputs, links to your business and your review count, so a directory listing helps your own visibility mainly by being accurate and by linking to you. Google separately states that it compiles Business Profile information from crawled web content and licensed third-party data, and may update your profile from those sources, which is the documented reason your details on these platforms should match your profile exactly. The citations spoke covers that mechanism in full.
How to decide, without a verdict from us
We are not going to tell you which to buy, because the answer depends on numbers only you have.
- Ask for cost per order, not impressions. Neither company publishes leads or orders delivered per dispensary, so the only figure that settles it is the one from your own point of sale.
- Price it against the alternative. The published averages are what other clients pay per month. Set that against what the same budget buys in visibility you keep.
- Check what happens at zero. Turn a platform off for a month if your market allows it and watch orders. Nobody else can run that test for you.
- Keep your listing data identical to your Business Profile either way, because that part costs nothing and protects the profile you do own.
- Re-read the filings each quarter. WM Technology's next report should arrive in November. Leafly's will not arrive at all unless it resumes filing.
What we could not check
- Leafly's current condition. Not public since March 2025. Every Leafly figure here is dated to that quarter and we will not guess past it.
- Traffic or lead quality on either platform. Neither publishes it, and no third-party estimate meets the sourcing standard used on this site.
- What a dispensary is actually quoted. Averages in a filing are not a price list.
- Whether either pays back. That is a question about your margins and your trade area, and we have no dataset that answers it in general.
These figures come from management's own reporting, audited annually and reviewed quarterly. That is a considerably higher bar than the industry estimates usually quoted in this comparison, and it is still the companies describing themselves. If you believe anything here is wrong, write to [email protected] and we will re-check it against the filings and publish the correction with its date.
Frequently asked questions
Which is bigger, Weedmaps or Leafly?
Weedmaps, by a wide margin on every published measure, though the comparison is awkward because the two companies last reported five quarters apart. WM Technology, which operates Weedmaps, reported $42.4 million of revenue for the quarter ended 30 June 2026 with 5,040 average monthly paying clients. Leafly Holdings reported $7.882 million of revenue for the quarter ended 31 March 2025, its final public quarter, with 3,362 ending retail accounts. Both figures come from the companies' own filings with the Securities and Exchange Commission.
Why can't I find recent financial numbers for Leafly?
Because it stopped being a public company. Leafly filed a Form 25 in March 2025, ran a going-private transaction under Schedule 13E-3 through the spring, and filed a Form 15-12G in June 2025 to deregister. Its own filing describes the mechanism: a reverse stock split that reduced outstanding shares to roughly 5,000 and record holders below 300, which allowed it to deregister and suspend its reporting obligations. Its last periodic report of any kind is the quarterly report filed on 15 May 2025.
How much does the average dispensary pay Weedmaps or Leafly?
The filings publish averages rather than rate cards, and the two averages are not measuring the same thing. Weedmaps reported average monthly revenue per paying client of $2,807 for the quarter ended 30 June 2026, but its filing states those clients include retailers, brands and other client types such as doctors, and that clients can buy multiple listing solutions each. Leafly reported retailer average revenue per account of $684 a month for the quarter ended 31 March 2025, counting retailer accounts only. So the headline gap is roughly fourfold, and the definitions behind the two numbers differ.
Are Weedmaps or Leafly listings good for SEO?
They are marketplaces you rent visibility on, not assets you own, and that is the distinction that matters for search. What Google documents about local ranking names two prominence inputs, links to your business and your review count, so a directory profile helps mainly to the extent it is accurate and links to you. Google also states that it compiles Business Profile information from crawled web content and licensed third-party data and may update your profile from those sources, which is the sourced reason to keep your details identical everywhere including on these platforms.
Does it matter that Leafly blocks some AI crawlers?
It might, and the detail is more interesting than the headline. Reading both files on 8 September 2026, Leafly disallows GPTBot across the site with a few article-level exceptions and disallows meta-externalagent, while leaving OAI-SearchBot unrestricted. By OpenAI's own documentation GPTBot governs training and OAI-SearchBot governs whether a site appears in ChatGPT search answers, so Leafly has opted out of training while keeping search visibility. Weedmaps carries no AI-specific rules at all. Robots files change without notice, so treat that as a dated snapshot rather than a permanent state.
Should a dispensary use both platforms?
That is a margin question rather than a marketing one, and neither company publishes what a dispensary gets for the money. What the filings do show is the price range you are negotiating inside, and what nobody publishes is leads or orders delivered per store. The reasonable approach is to treat each platform as a paid channel with a measurable cost per order, insist on tracking that maps platform spend to actual revenue, and compare it against the cost of visibility you own outright.
Are these numbers audited?
The annual figures are audited and the quarterly ones are reviewed, under SEC rules, which puts them well above the industry estimates usually quoted in this comparison. They remain management's own reporting of its business, not an independent assessment of how well either platform performs for a dispensary. That distinction is worth keeping.
How current is this comparison?
The Weedmaps figures are from the quarter ended 30 June 2026, filed 6 August 2026. The Leafly figures are from the quarter ended 31 March 2025 and cannot be updated, because the company no longer files. We re-check both against new filings each quarter and will publish the date of every refresh. Corrections are welcome at [email protected] and we will re-verify against the filings.
