---
schema_version: "secwatch.filing_event.v1"
accession: "0001609151-24-000048"
form_type: "8-K"
ticker: "WEAV"
cik: "0001609151"
company_name: "Weave Communications, Inc."
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T02:52:25.404996+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Weave Q1 revenue $47.2M (+19% YoY), non-GAAP gross margin tops 70% for first time

## Summary
- Revenue $47.2M (+19.2% YoY); GAAP net loss $7.2M ($0.10/sh) vs $7.9M ($0.12/sh) prior year.
- Non-GAAP gross margin 70.4% (all-time high); non-GAAP net loss $0.4M ($0.01/sh) vs $3.3M ($0.05/sh).
- Free cash flow -$20.5M due to billing system timing ($15M deferral) and early bonus payout ($7M); expects normalization in H1 2024.
- Dollar-based net retention rate 96%, gross retention rate 92% as of March 31, 2024.
- Q2 2024 guidance: revenue $48.2-49.2M; full-year revenue $197-200M; non-GAAP op loss $(2.5)-(1.5)M Q2, $(6.0)-(2.0)M FY.

## SEC filing metadata
- accession: 0001609151-24-000048
- form_type: 8-K
- ticker: WEAV
- cik: 0001609151
- company_name: Weave Communications, Inc.
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609151/000160915124000048/0001609151-24-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609151/000160915124000048/weav-20240501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001609151-24-000048
- JSON: https://secwatch.observer/filing/0001609151-24-000048.json
- Plain text: https://secwatch.observer/filing/0001609151-24-000048.txt

## Key facts
- Earnings Releases
  Weave Communications, Inc. reported the first quarter ended March 31, 2024 results: revenue $47.2 million, net income GAAP net loss was $7.2 million, or $0.10 per share, EPS $0.10 per share.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $47.2 million
  - Net income: GAAP net loss was $7.2 million, or $0.10 per share
  - EPS: $0.10 per share
  - Result: reported results
  source text: be expressly set forth by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Weave Announces First Quarter 2024 Financial Results • First quarter total revenue of $47.2 million, up 19.2% year over year • GAAP gross margin of 69.9%, up 280 basis points year over year • Non GAAP gross margin of 70.4%, up 280 basis points year over year LEHI, Utah—May 1,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609151/000160915124000048/0001609151-24-000048-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.