NYSE$WEAV
Weave Communications Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Weave reported strong Q3 2024 results with revenue growth and improved margins.
Weave reported a solid third quarter in 2024, achieving a 20.3% year-over-year increase in total revenue, reaching $52.4 million. The company saw substantial improvements in gross margins, operating margins, and free cash flow. Weave reported positive non-GAAP operating income for the first time in the company’s history.
- Total revenue reached $52.4 million, a 20.3% increase year-over-year.
- GAAP gross margin improved to 72.0%, up 330 basis points year-over-year.
- Non-GAAP operating income was $1.4 million, a $3.2 million improvement year-over-year.
- Free cash flow increased to $3.5 million, up from $2.1 million in the previous year.
Headline financials
Revenue & EPS history
Weave · Revenue · Quarterly
$52.4M
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 total revenue between $52.6 million and $53.6 million and non-GAAP income from operations between $0.9 million and $1.9 million for the fourth quarter of 2024. For the full year 2024, the company expects total revenue between $202.7 million and $203.7 million and non-GAAP income from operations between $0.0 million and $1.0 million.
Tailwinds
- Total revenue is expected to be between $52.6 million and $53.6 million for Q4 2024.
- Full year total revenue is projected to be between $202.7 million and $203.7 million.
- Non-GAAP income from operations is expected to be between $0.9 million and $1.9 million for Q4 2024.
- Full year non-GAAP income from operations is projected to be between $0.0 million and $1.0 million.
- Weighted average share count is expected to be 72.7 million for Q4 2024 and 71.6 million for the full year.
Headwinds
- Actual results may differ materially from forward-looking statements.
- Stock-based compensation expense is excluded from the non-GAAP income from operations guidance.
- The reconciliation of non-GAAP financial guidance measure to a corresponding GAAP financial guidance measure is not available.
- Stock-based compensation expense is impacted by future hiring and retention needs, as well as the future fair market value of common stock.
- The actual amount of these expenses during 2024 will have a significant impact on 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 Q3 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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