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Sep 30, 2023
Weave Q3 2023 Earnings Report
Revenue increased, customer base grew, and free cash flow improved.
Key Takeaways
Weave reported a strong Q3 2023 with revenue growth of 20.2% year-over-year, exceeding 30,000 customer locations. The company also showed improvements in net cash from operating activities and free cash flow.
Total revenue reached $43.5 million, a 20.2% increase year-over-year.
Customer base expanded to over 30,000 locations.
Net cash from operating activities was $3.3 million, a significant improvement from the previous year.
Free cash flow turned positive at $2.1 million, up from negative $4.6 million last year.
Revenue by Segment
Forward Guidance
The company expects total revenue between $43.5 million and $44.5 million and non-GAAP loss from operations between $(3.0) million and $(2.0) million for the fourth quarter of 2023.
Positive Outlook
- Total revenue is expected to be between $43.5 million and $44.5 million.
- Full year total revenue is projected to be between $168.3 million and $169.3 million.
- Non-GAAP loss from operations is expected to be between $(3.0) million and $(2.0) million.
- Weighted average share count is expected to be 69.6 million.
- Full year non-GAAP loss from operations is expected to be between $(12.8) million and $(11.8) million.
Challenges Ahead
- Guidance constitutes forward-looking statements and actual results may differ materially.
- Non-GAAP loss from operations excludes estimates for stock-based compensation expense.
- Reconciliation of non-GAAP financial guidance measure to a corresponding GAAP financial guidance measure is not available on a forward-looking basis.
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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