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Dec 31, 2022
Weave Q4 2022 Earnings Report
Weave's financial performance improved with revenue increase and margin expansion.
Key Takeaways
Weave Communications reported Q4 2022 financial results with a total revenue of $37.7 million, up 18% year-over-year. The company showed significant improvement in gross and operating margins and is focused on operational performance and an accelerated path to breakeven.
Total revenue was $37.7 million, up 18% year-over-year.
GAAP loss from operations was $9.7 million, improved from $13.6 million in Q4 2021.
Non-GAAP loss from operations was $4.2 million, improved from $10.6 million in Q4 2021.
Dollar-Based Net Retention Rate (NRR) was 99%.
Forward Guidance
The company expects revenue between $37.5 million and $38.5 million for the first quarter of 2023 and between $156.0 million and $160.0 million for the full year 2023. Non-GAAP loss from operations is expected to be between $(4.5) million and $(5.5) million for Q1 2023 and between $(21.3) million and $(17.3) million for the full year 2023.
Positive Outlook
- Expects Q1 2023 revenue between $37.5 million and $38.5 million.
- Expects full year 2023 revenue between $156.0 million and $160.0 million.
- Expects Q1 2023 Non-GAAP loss from operations between $(4.5) million and $(5.5) million.
- Expects full year 2023 Non-GAAP loss from operations between $(21.3) million and $(17.3) million.
- Weighted average share count for Q1 is expected to be 66.0 million and for full year 2023 is expected to be 68.0 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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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