NYSE$WEAV
Weave Communications Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Weave Communications' Q1 2023 financial results were announced, demonstrating strong operating results and accelerating revenue growth.
Weave Communications reported a 19% year-over-year increase in total revenue, reaching $39.6 million for Q1 2023. The company achieved positive cash flow from operations and positive free cash flow, marking progress towards profitability. Significant improvements were also noted in gross and operating margins.
- Total revenue for the first quarter reached $39.6 million, reflecting a 19% increase compared to the previous year.
- The company reported positive free cash flow of $0.6 million, a significant improvement from negative $5.1 million in the same quarter last year.
- GAAP gross margin increased to 67.1%, compared to 58.7% in the first quarter of 2022.
- Weave launched Response Assistant and Bulk Texting to enhance customer communication and engagement.
Headline financials
Revenue & EPS history
Weave · Revenue · Quarterly
$39.6M
Revenue by segment
Weave · $39.6M total across 3 segments · Q1 2023
- Subscription and payment processing$37.7M+18.0%95.3%
- Phone Hardware$1.09M+2.7%2.8%
- Onboarding$784K+199.2%2.0%
Forward guidance
The company provided financial outlook for the second quarter and full year 2023.
Tailwinds
- Total revenue for Q2 2023 is expected to be between $39.5 million and $40.5 million.
- Full year 2023 total revenue is projected to range from $160.5 million to $163.5 million.
- Non-GAAP loss from operations for Q2 2023 is expected to be between $(5.0) million and $(4.0) million.
- Full year 2023 non-GAAP loss from operations is forecasted to be between $(18.5) million and $(15.5) million.
- Weighted average share count is expected to be 66.8 million for Q2 2023 and 67.3 million for the full year.
Headwinds
- Second Quarter Non-GAAP loss from operations is expected
- Full year Non-GAAP loss from operations is expected
- Stock-based compensation expense is impacted by our future hiring and retention needs
- Stock-based compensation expense is impacted by the future fair market value of our common stock
- The actual amount of these expenses during 2023 will have a significant impact on our future GAAP financial results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-0.9%
Avg return
Earnings day
-3.2%
Avg return
5 days after
-3.3%
Avg return
30 days after
39%
9 / 23 earnings
Positive
+28.0%
Q1 2023
Best reaction
-19.1%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | +22.4% | +22.6% | |
| Q4 2025 | -4.7% | -14.0% | -16.7% | |
| Q3 2025 | -0.6% | -0.9% | -3.0% | |
| Q1 2025 | -11.5% | -2.5% | -9.3% | |
| Q4 2024 | -15.6% | -24.1% | -30.7% | |
| Q3 2024 | +3.9% | -3.6% | +1.3% | |
| Q2 2024 | +6.4% | -0.1% | +10.2% | |
| Q1 2024 | -19.1% | -22.1% | -19.1% | |
| Q4 2023 | -11.9% | +2.9% | -6.0% | |
| Q3 2023 | +18.4% | +15.9% | +37.7% | |
| Q2 2023 | -4.8% | -12.5% | -10.4% | |
| Q1 2023 | +28.0% | +30.4% | +83.5% | |
| Q4 2022 | +10.5% | +1.8% | -2.2% | |
| Q3 2022 | -10.1% | -10.5% | -27.4% | |
| Q2 2021 | +2.2% | -0.8% | +7.8% | |
| Q2 2022 | +7.2% | +0.0% | +16.9% | |
| Q1 2021 | +0.2% | +3.4% | -7.4% | |
| Q1 2022 | +15.0% | -7.2% | +10.0% | |
| Q4 2019 | -2.7% | -5.5% | -20.7% | |
| Q4 2021 | -18.9% | -34.4% | -38.7% | |
| Q4 2020 | -3.7% | -1.6% | -24.0% | |
| Q3 2020 | -3.7% | -1.6% | -24.0% | |
| Q3 2021 | -4.2% | -7.8% | -26.0% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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