Weave Q3 revenue $43.5M (+20.2% YoY), net loss narrows; CRO resigns

Weave Communications, Inc.

2023-Q3 EPS reported -$0.36 revenue$124,776,000

Q3 revenue $43.5M, up 20.2% YoY; GAAP net loss $7.1M ($0.10/sh) vs $11.8M ($0.18) YoY.
Non-GAAP net loss $1.0M ($0.01/sh); operating cash flow $3.3M, positive vs -$4.0M YoY.
Customer base crossed 30,000 locations; NRR 95%, GRR 92% as of Sept 30, 2023.
Q4 guidance: revenue $43.5-$44.5M; FY23 rev $168.3-$169.3M; non-GAAP op loss $(3.0)-$(2.0)M.
CRO Matt Hyde resigns eff Nov 20; VP Sales Jake Kuresa named interim CRO, CEO Brett White also assumes duties.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Matt Hyde

Chief Revenue Officer

WEAV · Weave Communications, Inc.

Effective: 2023-11-20
Successor: Jake Kuresa
Filed: November 1, 2023, 7:59 PM ET

Matt Hyde, a named executive officer of the Company, is resigning from his position as Chief Revenue Officer (“CRO”) effective November 20, 2023.

Appointed (interim)

Jake Kuresa

interim Chief Revenue Officer

WEAV · Weave Communications, Inc.

Effective: 2023-11-01
Filed: November 1, 2023, 7:59 PM ET

Jake Kuresa, the Company’s Vice President of Sales, together with the Company’s Chief Executive Officer, Brett White, will assume Mr. Hyde's responsibilities as of November 1, 2023. Mr. Kuresa will serve as interim CRO while Weave conducts an internal and external search for a permanent CRO.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Matt Hyde resigned as Chief Revenue Officer at Weave Communications, Inc..

Action: resigned
Role: Chief Revenue Officer

Exact text from the filing

Matt Hyde, a named executive officer of the Company, is resigning from his position as Chief Revenue Officer (“CRO”) effective November 20, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jake Kuresa was appointed as interim Chief Revenue Officer at Weave Communications, Inc..

Action: appointed
Role: interim Chief Revenue Officer

Exact text from the filing

Jake Kuresa, the Company’s Vice President of Sales, together with the Company’s Chief Executive Officer, Brett White, will assume Mr. Hyde's responsibilities as of November 1, 2023. Mr. Kuresa will serve as interim CRO while Weave conducts an internal and external search for a permanent CRO.

View on SEC.gov

Weave Communications, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-035982

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