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Weave Communications, Inc. operates an AI-powered patient communications, engagement, and payments platform for small and medium-sized healthcare businesses. It offers AI-receptionist; Unified Phone Number; Customized Phone System, a smarter phone system to identify whether incoming calls are from new or current patients, provide information at every call, and manage heavy call times; Softphones to make and receive calls from anywhere with an internet connection; Text Messaging and SMS response assistant; Missed Call Text that allows practices to respond when a call is missed; Missed Text Auto-Reply that replies to patient text messages by automatically responding to messages received outside of a practice's normal operating hours; Team Chat, a group messaging solution; and Weave Mobile App. It also provides Weave Reviews and Respond Assistant to request, collect, monitor, and respond to reviews; Weave Email Marketing and Email Assistant to create professional emails; Text Connect to interact with their patients online directly through their websites; and Weave Payments, a payment processing solution. The company provides Weave Digital Forms to collect patient information; Online Scheduling that allows patients to request appointments from the practice's website, send automatic scheduling reminders, and personalize each reminder for the patient; Insurance Eligibility, an insurance tool; Insurance Verification; Practice Analytics that provides real-time data on patient retention, appointment scheduling, treatment acceptance rates, and revenue generation; Call Intelligence; and Weave Enterprise for multi-location healthcare practices comprising dental service organizations, vision, veterinary, and medical groups. The company was formerly known as Recall Solutions, LLC and changed its name to Weave Communications, Inc. in October 2015. Weave Communications, Inc. was founded in 2008 and is headquartered in Lehi, Utah.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $239M | $-11M | $-28M | $13M | -34.1% | 17.0% | - |
| 2024 | $204M | $-11M | $-28M | $10M | -42.3% | 19.9% | - |
| 2023 | $170M | $-13M | $-31M | $7M | -39.3% | 19.9% | - |
| 2022 | $142M | $-32M | $-50M | $-16M | -59.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 142.12 | 170.47 | 204.31 | 239.02 |
| Cost Of Revenue | 53.28 | 54.38 | 58.43 | 66.72 |
| Gross Profit | 88.84 | 116.09 | 145.88 | 172.31 |
| Operating Expense | 138.54 | 150.46 | 177.29 | 202.92 |
| Operating Income | -49.70 | -34.37 | -31.41 | -30.61 |
| EBITDA | -31.55 | -13.02 | -11.17 | -10.78 |
| EBIT | -48.19 | -28.85 | -26.63 | -27.28 |
| Pretax Income | -49.63 | -30.77 | -28.16 | -28.98 |
| Tax Provision | 0.10 | 0.26 | 0.19 | -0.92 |
| Net Income | -49.74 | -31.03 | -28.35 | -28.05 |
| Net Income Common Stockholders | -49.74 | -31.03 | -28.35 | -28.05 |
| Total Expenses | 191.82 | 204.83 | 235.73 | 269.63 |
| Interest Expense | 1.44 | 1.92 | 1.52 | 1.70 |
| Interest Income | 1.16 | 2.20 | 1.85 | 1.81 |
| Research And Development | 30.71 | 34.04 | 40.23 | 44.46 |
| Selling General And Administration | 107.83 | 116.42 | 137.06 | 158.46 |
| Normalized EBITDA | -31.55 | -13.02 | -11.17 | -10.78 |
| Normalized Income | -49.74 | -31.03 | -28.35 | -28.05 |
| Basic EPS | -0.76 | -0.46 | -0.40 | 0 |
| Diluted EPS | -0.76 | -0.46 | -0.40 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.03 |
| Net Income From Continuing Operation Net Minority Interest | -49.74 | -31.03 | -28.35 | -28.05 |
| Reconciled Depreciation | 16.64 | 15.83 | 15.47 | 16.50 |
| Reconciled Cost Of Revenue | 53.28 | 54.38 | 58.43 | 66.72 |
| Net Interest Income | -0.29 | 0.27 | 0.33 | 0.11 |
| Net Income From Continuing And Discontinued Operation | -49.74 | -31.03 | -28.35 | -28.05 |
| Total Operating Income As Reported | -49.70 | -34.37 | -31.41 | -30.61 |
| Diluted Average Shares | 65.08 | 67.69 | 71.66 | 0 |
| Basic Average Shares | 65.08 | 67.69 | 71.66 | 0 |
| Diluted NI Availto Com Stockholders | -49.74 | -31.03 | -28.35 | -28.05 |
| Preferred Stock Dividends | 0 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -49.74 | -31.03 | -28.35 | -28.05 |
| Net Income Continuous Operations | -49.74 | -31.03 | -28.35 | -28.05 |
| Other Income Expense | 0.36 | 3.32 | 2.93 | 1.52 |
| Other Non Operating Income Expenses | 0.36 | 3.32 | 2.93 | 1.52 |
| Net Non Operating Interest Income Expense | -0.29 | 0.27 | 0.33 | 0.11 |
| Interest Expense Non Operating | 1.44 | 1.92 | 1.52 | 1.70 |
| Interest Income Non Operating | 1.16 | 2.20 | 1.85 | 1.81 |
| Selling And Marketing Expense | 65.38 | 70.77 | 84.61 | 102.70 |
| General And Administrative Expense | 42.45 | 45.65 | 52.45 | 55.75 |
| Other Gand A | 42.45 | 45.65 | 52.45 | 55.75 |
| Operating Revenue | 142.12 | 170.47 | 204.31 | 239.02 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Weave Communications, Inc.this co. | WEAV | $385M | - | 4.61 | -34.1% | -18.58 |
| CTEV | CTEV | $391M | - | -2.19 | 170.1% | 9.33 |
| TruBridge, Inc. | TBRG | $386M | 88.72 | 2.10 | 2.4% | 13.37 |
| Cerus Corporation | CERS | $385M | - | 5.75 | -24.1% | -52.90 |
| Niagen Bioscience, Inc. | NAGE | $381M | 23.80 |
| 4.97 |
| 22.7% |
| 21.23 |
| Puma Biotechnology, Inc. | PBYI | $381M | 12.26 | 2.89 | 23.9% | 6.57 |
| Viemed Healthcare, Inc. | VMD | $381M | 26.73 | 2.66 | 10.4% | 7.66 |
| Rocket Pharmaceuticals, Inc. | RCKT | $380M | - | 1.36 | -80.5% | -0.98 |
| OrthoPediatrics Corp. | KIDS | $376M | - | 1.06 | -11.4% | -53.45 |
| Peer Median | - | 25.26 | 2.38 | 6.4% | 7.11 | |