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Dec 31, 2023
Weave Q4 2023 Earnings Report
Weave's Q4 2023 earnings showcased strong revenue growth and improved financial performance.
Key Takeaways
Weave reported a 21.2% year-over-year increase in total revenue for the fourth quarter, reaching $45.7 million. The company also saw improvements in gross margin, operating income, net loss, and free cash flow compared to the same period last year. For the full year, revenue grew by 19.9% to $170.5 million, with positive net cash from operating activities and free cash flow.
Total revenue for Q4 2023 reached $45.7 million, a 21.2% increase year-over-year.
GAAP gross margin improved to 69.1% in Q4 2023, compared to 66.2% in Q4 2022.
Net cash from operating activities was positive $3.7 million in Q4 2023, up from negative $2.8 million last year.
Free cash flow was positive $2.9 million in Q4 2023, up from negative $3.8 million last year.
Revenue by Segment
Forward Guidance
The company expects to achieve revenue between $45.2 million and $46.2 million for the first quarter of 2024 and between $194.0 million and $198.0 million for the full year. Non-GAAP loss from operations is expected to be between $(2.5) million and $(1.5) million for the first quarter and between $(6.0) million and $(2.0) million for the full year.
Positive Outlook
- Revenue guidance for Q1 2024 is between $45.2 million and $46.2 million.
- Full year 2024 revenue is projected to be between $194.0 million and $198.0 million.
- Non-GAAP loss from operations for Q1 2024 is expected to be between $(2.5) million and $(1.5) million.
- Full year 2024 non-GAAP loss from operations is expected to be between $(6.0) million and $(2.0) million.
- Weighted average share count is expected to be 70.5 million for Q1 2024 and 71.7 million for the full year.
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.
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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