Weave Communications Inc
NYSE:WEAV

  • LAST PRICE
    9.1300
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    8.8800/ 1
  • Ask / Lots
    9.2400/ 1
  • Open / Previous Close
    9.1200 / 9.1300
  • Day Range
    9.0000
    9.1599
  • 52 Week Range
    6.2700
    13.8000
  • Volume
    248,923

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  • May 1, 2024

      Show headlines and story abstract

    • 4:26PM ET on Wednesday May 01, 2024 by MT Newswires
      Companies Mentioned: WEAV
      04:26 PM EDT, 05/01/2024 (MT Newswires) -- ...

    • 4:26PM ET on Wednesday May 01, 2024 by MT Newswires
      Companies Mentioned: WEAV
      04:26 PM EDT, 05/01/2024 (MT Newswires) -- ...

    • 4:07PM ET on Wednesday May 01, 2024 by Dow Jones
      Companies Mentioned: WEAV

    • 4:05PM ET on Wednesday May 01, 2024 by Business Wire
      Companies Mentioned: WEAV

      Weave (NYSE: WEAV), a leading all-in-one customer experience and payments software platform for small and medium-sized healthcare businesses, today announced its financial results for the first quarter ended March 31, 2024.

    • 4:05PM ET on Wednesday May 01, 2024 by Dow Jones
      Companies Mentioned: WEAV
      DISAGGREGATED REVENUE AND COST OF REVENUE (unaudited, in thousands) Three Months Ended March 31, -------------------------------------- 2024 2023 ----------- --- -------- Subscription and payment processing: Revenue $ 45,092 $ 37,692 Cost of revenue (10,536) (8,978) ----------- -------- Gross profit $ 34,556 $ 28,714 Gross margin 76.6% 76.2% Onboarding: Revenue $ 960 $ 784 Cost of revenue (1,832) (2,125) ----------- -------- Gross profit $ (872) $ (1,341) Gross margin (90.8)% (171.0)% Hardware: Revenue $ 1,121 $ 1,089 Cost of revenue (1,818) (1,928) ----------- -------- Gross profit $ (697) $ (839) Gross margin (62.2)% (77.0)% WEAVE COMMUNICATIONS, INC RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (unaudited, in thousands, except share and per share data) The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP financial measures for the periods indicated below Non-GAAP gross profit ------------------------------------ -------------------- ---------------- Three Months Ended March 31, -------------------------------------- 2024 2023 --- ---------- --- -------- Gross profit $ 32,987 $ 26,534 Stock-based compensation add back 239 213 --- ---------- --- -------- Non-GAAP gross profit $ 33,226 $ 26,747 === ========== === ======== GAAP gross margin 69.9% 67.1% Non-GAAP gross margin 70.4% 67.6% Non-GAAP operating expenses ------------------------------------ -------------------- ---------------- Three Months Ended March 31, -------------------------------------- 2024 2023 --- ---------- --- -------- Sales and marketing $ 19,630 $ 17,218 Stock-based compensation excluded (1,151) (964) --- ---------- -------- Non-GAAP sales and marketing $ 18,479 $ 16,254 === ========== === ======== Research and development $ 9,645 $ 7,694 Stock-based compensation excluded (1,898) (930) --- ---------- -------- Non-GAAP research and development $ 7,747 $ 6,764 === ========== === ======== General and administrative $ 11,867 $ 10,140 Stock-based compensation excluded (3,484) (2,406) --- ---------- -------- Non-GAAP general and administrative $ 8,383 $ 7,734 === ========== === ======== Non-GAAP loss from operations ------------------------------------ ------------------- --------------- Three Months Ended March 31, ------------------------------------ 2024 2023 ----------- ---------- Loss from operations $ (8,155) $ (8,518) Stock-based compensation add back 6,772 4,513 ----------- ---------- Non-GAAP loss from operations $ (1,383) $ (4,005) =========== ========== GAAP loss from operations margin (17.3)% (21.5)% Non-GAAP loss from operations margin (2.9)% (10.1)% Non-GAAP net loss ------------------------------------ ------------------- --------------- Three Months Ended March 31, ------------------------------------ 2024 2023 ----------- ---------- Net loss $ (7,203) $ (7,859) Stock-based compensation add back 6,772 4,513 ----------- ---------- Non-GAAP net loss $ (431) $ (3,346) =========== ========== GAAP net loss margin (15.3)% (19.9)% Non-GAAP net loss margin (0.9)% (8.5)% GAAP net loss per share - basic and diluted $ (0.10) $ (0.12) Non-GAAP net loss per share - basic and diluted $ (0.01) $ (0.05) Weighted-average common shares outstanding - basic and diluted 70,452,944 65,954,521 Free Cash Flow ------------------------------------ -------------------- ---------------- Three Months Ended March 31, -------------------------------------- 2024 2023 ------------ --------- Net cash provided by (used in) operating activities $ (19,701) $ 1,541 Less: Purchases of property and equipment (513) (620) Less: Capitalized internal-use software costs (305) (334) ------------ --------- Free cash flow $ (20,519) $ 587 ============ ========= Adjusted EBITDA ------------------------------------ -------------------- ---------------- Three Months Ended March 31, -------------------------------------- 2024 2023 ------------ --------- Net loss $ (7,203) $ (7,859) Interest expense 319 472 Provision for income taxes 14 20 Interest income (420) (436) Other income/expense, net (865) (715) Depreciation 609 592 Amortization 416 299 Stock-based compensation 6,772 4,513 ------------ --------- Adjusted EBITDA $ (358) $ (3,114) ============ =========

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