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Dec 31, 2024
Weave Q4 2024 Earnings Report
Weave reported strong financial results for the fourth quarter and full year ended December 31, 2024, with significant improvements in revenue, gross margin, cash flow, and operating income.
Key Takeaways
Weave announced robust financial results for Q4 and the full year 2024, demonstrating continued strong demand and operational improvements. The company achieved an 18.6% year-over-year increase in Q4 revenue to $54.2 million and a 19.9% increase in full-year revenue to $204.3 million. Operating losses significantly improved, and the company generated positive free cash flow for both the quarter and the full year.
Fourth quarter total revenue increased by 18.6% year-over-year to $54.2 million.
Full year total revenue grew by 19.9% year-over-year to $204.3 million.
Fourth quarter GAAP operating loss improved by $0.6 million year-over-year to $7.4 million.
Full year Non-GAAP operating income improved by $12.4 million year-over-year to $0.8 million.
Revenue by Segment
Forward Guidance
Weave expects continued growth in 2025, with projected revenue between $232.0 million and $237.0 million for the full year, and anticipates achieving positive non-GAAP income from operations.
Positive Outlook
- Expected full year 2025 revenue of $232.0 million to $237.0 million.
- Anticipated full year 2025 non-GAAP income from operations of $2.0 million to $6.0 million.
- Continued strategic investments in medical vertical markets, mid-market, partnerships, AI, and payments.
- Building on 2024 momentum to expand market leadership.
- Unlocking new revenue opportunities for the years ahead.
Challenges Ahead
- First quarter 2025 non-GAAP income (loss) from operations is projected to be a loss of $(0.7) million to income of $0.3 million.
- Non-GAAP income (loss) from operations excludes stock-based compensation expense, which is difficult to predict.
- Future hiring and retention needs will impact 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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