NYSE$WEAV

Weave Communications Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Announced fourth quarter and full year 2021 financial results.

Weave Communications reported Q4 2021 total revenue of $31.8 million, up 34% year-over-year and full year total revenue of $115.9 million, up 45% year-over-year.

  • Total revenue was $31.8 million, representing a 34% year-over-year increase compared to $23.8 million in the fourth quarter of 2020.
  • GAAP net loss attributable to common stockholders was $14.3 million, or $0.34 per share compared to a GAAP net loss attributable to common stockholders of $9.9 million, or $0.84 per share in the fourth quarter of 2020.
  • Non-GAAP net loss attributable to common stockholders was $11.0 million, or $0.26 per share compared to a non-GAAP net loss attributable to common stockholders of $7.9 million, or $0.67 per share in the fourth quarter of 2020.
  • Dollar-Based Net Retention Rate (NRR) was 103% as of December 31, 2021, reflecting ongoing customer acceptance and utilization of our platform.

Headline financials

Total Revenue

$31.8M

Previous: $23.8M+33.9%
EPS (adj)

-$0.26

Previous: -$0.84+69.0%
Capital Expenditures

$1.65M

Previous: $1.62M+1.5%
Free Cash Flow

-$11.7M

Previous: -$2.07M-466.4%
Net Income

-$14.1M

Previous: -$9.39M-49.9%
Operating Income

-$13.6M

Previous: -$9.09M-50.1%
Gross Profit

$18.2M

Previous: $13.8M+31.3%
Cash & Equivalents

$136M

Previous: $55.7M+144.2%
Total Assets

$187M

Previous: $93M+101.7%
Stock-Based Comp

$3.04M

Previous: $1.53M+98.7%

Revenue & EPS history

Weave · Revenue · Quarterly

$31.8M

Q4 2021+33.9%vs Q4 2020
Beat estimate in 7 of 9 quarters(78%)
ActualEstimate

Revenue by segment

Weave · $31.8M total across 3 segments · Q4 2021

  • Subscription and payment processing
    $30.3M
  • Phone Hardware
    $909K
  • Onboarding
    $599K

Forward guidance

The company expects the following financial results for the three months ending March 31, 2022 and year ending December 31, 2022:

Tailwinds

  • First Quarter Total revenue (in millions) $31.0 - $32.0
  • Full Year Total revenue (in millions)$136.0 - $140.0

Headwinds

  • First Quarter Non-GAAP loss from operations (in millions) $(12.0) - $(11.0)
  • Full Year Non-GAAP loss from operations (in millions) $(40.0) - $(36.0)
  • Weighted average share count (in millions)64.7
  • Weighted average share count (in millions)66.0

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 Q4 2021

Historical avgQ4 2021

-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

Earnings price reactions
QuarterReport dateReaction (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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