NYSE$WEAV
Weave Communications Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Revenue increased, customer base grew, and free cash flow improved.
Weave reported a strong Q3 2023 with revenue growth of 20.2% year-over-year, exceeding 30,000 customer locations. The company also showed improvements in net cash from operating activities and free cash flow.
- Total revenue reached $43.5 million, a 20.2% increase year-over-year.
- Customer base expanded to over 30,000 locations.
- Net cash from operating activities was $3.3 million, a significant improvement from the previous year.
- Free cash flow turned positive at $2.1 million, up from negative $4.6 million last year.
Headline financials
Revenue & EPS history
Weave · Revenue · Quarterly
$43.5M
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 total revenue between $43.5 million and $44.5 million and non-GAAP loss from operations between $(3.0) million and $(2.0) million for the fourth quarter of 2023.
Tailwinds
- Total revenue is expected to be between $43.5 million and $44.5 million.
- Full year total revenue is projected to be between $168.3 million and $169.3 million.
- Non-GAAP loss from operations is expected to be between $(3.0) million and $(2.0) million.
- Weighted average share count is expected to be 69.6 million.
- Full year non-GAAP loss from operations is expected to be between $(12.8) million and $(11.8) million.
Headwinds
- Guidance constitutes forward-looking statements and actual results may differ materially.
- Non-GAAP loss from operations excludes estimates for stock-based compensation expense.
- Reconciliation of non-GAAP financial guidance measure to a corresponding GAAP financial guidance measure is not available on a forward-looking basis.
- Stock-based compensation expense is impacted by future hiring and retention needs.
- Future fair market value of common stock is difficult to predict and is subject to change.
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 Q3 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro