NYSE$WEAV
Weave Communications Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Achieved revenue growth and margin improvements.
Weave reported a strong start to the year with solid top-line performance and significant improvements in gross and operating margin and adjusted EBITDA. The company achieved greater than 70% non-GAAP gross margin for the first time.
- Total revenue was $47.2 million, representing a 19.2% year-over-year increase.
- GAAP gross margin was 69.9%, compared to 67.1% in the first quarter of 2023.
- Non-GAAP gross margin was 70.4%, compared to 67.6% in the first quarter of 2023.
- GAAP net loss was $7.2 million, or $0.10 per share, compared to a GAAP net loss of $7.9 million, or $0.12 per share, in the first quarter of 2023.
Headline financials
Revenue & EPS history
Weave · Revenue · Quarterly
$47.2M
Revenue by segment
Weave · $43.5M total across 3 segments · Q3 2023
- Subscription and payment processing$41.6M+19.1%95.5%
- Phone Hardware$1.19M+17.5%2.7%
- Onboarding$757K+172.3%1.7%
Forward guidance
The company expects to achieve the following financial results for the three months ending June 30, 2024, and full year ending December 31, 2024:
Tailwinds
- Second Quarter Total revenue $48.2 - $49.2 million
- Full Year Total revenue $197.0 - $200.0 million
- Second Quarter Non-GAAP loss from operations $(2.5) - $(1.5) million
- Full Year Non-GAAP loss from operations $(6.0) - $(2.0) million
- Weighted average share count 71.3 million
Headwinds
- Second Quarter Non-GAAP loss from operations $(2.5) - $(1.5) million
- Full Year Non-GAAP loss from operations $(6.0) - $(2.0) million
- Actual results could differ materially
- 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
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 2024
-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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