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Jun 30, 2022
Weave Q2 2022 Earnings Report
Weave reported Q2 2022 financial results, with a 24% year-over-year increase in total revenue.
Key Takeaways
Weave Communications announced its Q2 2022 financial results, showcasing a 24% year-over-year increase in total revenue, reaching $34.9 million. Despite revenue growth, the company reported a GAAP loss from operations of $14.6 million and a GAAP net loss attributable to common stockholders of $14.8 million, or $0.23 per share. The company's Dollar-Based Net Retention Rate was 102% and Dollar-Based Gross Retention Rate was 94%.
Total revenue reached $34.9 million, a 24% increase year-over-year.
Subscription and Payments revenue grew by 28% year-over-year.
GAAP loss from operations was $14.6 million.
Dollar-Based Net Retention Rate (NRR) was 102%.
Revenue by Segment
Forward Guidance
The company expects total revenue between $35.0 million and $36.0 million for the third quarter of 2022 and between $141.0 million and $143.0 million for the full year 2022. The company expects Non-GAAP loss from operations between $(9.5) million and $(8.5) million for the third quarter and between $(38.0) million and $(36.0) million for the full year 2022.
Positive Outlook
- Third quarter total revenue is expected to be between $35.0 million and $36.0 million.
- Full year total revenue is expected to be between $141.0 million and $143.0 million.
Challenges Ahead
- Third quarter Non-GAAP loss from operations is expected to be between $(9.5) million and $(8.5) million.
- Full year Non-GAAP loss from operations is expected to be between $(38.0) million and $(36.0) million.
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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