secwatch.observer — SEC 8-K summary
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Issuer:     Weave Communications, Inc. (WEAV)
CIK:        0001609151
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001609151-24-000048
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609151/000160915124000048/0001609151-24-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609151/000160915124000048/weav-20240501.htm
  HTML page:      https://secwatch.observer/filing/0001609151-24-000048

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer