Weave Q1 revenue $39.6M (+19% YoY); posts positive free cash flow of $0.6M

Weave Communications, Inc.

2023-Q1 EPS reported -$0.12 revenue$39,565,000

GAAP net loss $7.9M ($0.12 loss per share); non-GAAP loss $3.3M ($0.05 loss per share).
Revenue grew 19% YoY to $39.6M; gross margin improved to 67.1% GAAP.
Operating cash flow turned positive $1.5M vs -$4.2M last year; free cash flow $0.6M.
Q2 revenue guidance $39.5-40.5M; full year $160.5-163.5M.
Weave launched AI-powered Response Assistant and Bulk Texting; appointed Marcus Bertilson as Chief Strategy & Services Officer.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.99

Weave Communications, Inc. reported the first quarter ended March 31, 2023 results: revenue $39.6 million, net income $7.9 million, EPS $0.12 per share.

Period: the first quarter ended March 31, 2023
Revenue: $39.6 million
Net income: $7.9 million
EPS: $0.12 per share
Result: reported results

Exact text from the filing

set forth by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Weave Communications Announces First Quarter 2023 Financial Results • First quarter total revenue of $39.6 million, up 19% year-over-year. • First quarter net cash provided by operating activities of $1.5 million, up from net cash used in operating activities of $4.2 million last year. •

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6 earnings releases filed in the last 30 days. Browse all earnings releases →

Weave Communications, Inc. filing history →

Source: SEC EDGAR

accession 0001609151-23-000018

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