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Sep 30, 2021
Weave Q3 2021 Earnings Report
Announced third quarter 2021 financial results, demonstrating revenue growth and customer expansion.
Key Takeaways
Weave Communications reported a 42% year-over-year increase in total revenue for the third quarter of 2021, reaching $30.3 million. The company expanded its customer base to 22,553 locations and launched into the home services market. However, the company experienced increased GAAP and non-GAAP losses from operations and net losses compared to the same period in 2020.
Total revenue increased by 42% year-over-year to $30.3 million.
Reached 22,553 customer locations, a 31% increase year-over-year.
Launched into the home services market, expanding vertical market presence.
Priced initial public offering on November 10, 2021, raising $111.6 million in net proceeds.
Revenue by Segment
Forward Guidance
Weave Communications provided financial outlook for the fourth quarter and full year 2021.
Positive Outlook
- Fourth Quarter Total revenue (in millions) $31.5 - $32.5
- Full Year Total revenue (in millions) $115.5 - $116.5
Challenges Ahead
- Fourth Quarter Non-GAAP loss from operations (in millions) $(11.0) - $(10.0)
- Full Year Non-GAAP loss from operations (in millions) $(36.5) - $(35.5)
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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