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Mar 31, 2025
Weave Q1 2025 Earnings Report
Reported financial results for the first quarter ended March 31, 2025
Key Takeaways
Weave Communications, Inc. delivered a strong start to 2025 with significant revenue growth and improved profitability in the first quarter. Total revenue increased by 18.3% year-over-year, reaching $55.8 million. The company also saw improvements in both GAAP and non-GAAP gross margins and achieved positive non-GAAP income from operations and Adjusted EBITDA.
Total revenue for Q1 2025 was $55.8 million, an 18.3% increase from Q1 2024.
GAAP gross margin improved to 71.6% and non-GAAP gross margin to 72.1% in Q1 2025.
Non-GAAP income from operations was positive at $39 thousand in Q1 2025, compared to a loss in the prior year.
The company announced an agreement to acquire TrueLark to accelerate front office automation and advance its AI roadmap.
Revenue by Segment
Forward Guidance
For the second quarter of 2025, the company expects total revenue between $57.3 million and $58.3 million and non-GAAP income (loss) from operations between -$1.0 million and $0.0 million. For the full year 2025, total revenue is expected to be between $236.8 million and $239.8 million, with non-GAAP income (loss) from operations between $0.0 million and $3.0 million.
Positive Outlook
- Expected continued revenue growth in Q2 and the full year 2025.
- Anticipated positive non-GAAP income from operations for the full year 2025.
- Proposed acquisition of TrueLark expected to close in Q2 2025, potentially expanding addressable market and strengthening market position.
- Strong demand in specialty medical and continued progress in mid-market noted as drivers of performance.
- New integrations expanding the serviceable market.
Challenges Ahead
- Non-GAAP income from operations guidance for Q2 2025 includes a potential loss.
- Guidance assumes the closing of the TrueLark acquisition, which is subject to conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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