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Weave Communications, Inc. (Symbol: WEAV) is a trailblazing customer experience and payments software platform specifically designed for small and medium-sized healthcare businesses. By intertwining data, software, and communication platforms, Weave ensures that valuable information is readily accessible and easy to use, enhancing productivity and collaboration.
At its core, Weave aims to revolutionize patient interaction from the very first contact to the final billing process. The platform integrates a wide range of workflows into a unified solution, significantly reducing manual tasks and maximizing patient engagement. This approach democratizes enterprise-level communication tools, simplifying them for small and medium-sized businesses within the healthcare sector.
Weave offers a variety of features to enhance practitioner-patient relationships and optimize practice operations. These include diverse communication channels, appointment scheduling, payment processing, and more. The company operates in a singular segment, with its primary revenue derived from subscription services.
Recent achievements for Weave include advancing its software capabilities to provide even greater insights and improved productivity for its users. The company continues to develop its platform to meet the ever-evolving needs of healthcare providers, ensuring that meaningful information is available precisely when it is most beneficial for decision-making.
Weave (NYSE: WEAV) has been awarded the TRANSACT Top 10 Payments ISVs Award by the Electronic Transactions Association (ETA) for its innovative payment solutions in healthcare. The platform integrates flexible payment options into communication workflows for small and medium-sized healthcare practices.
A recent Weave-commissioned survey of 1,000 U.S. consumers revealed that 65% of patients prefer healthcare providers offering flexible payment options. In the past 18 months, Weave has enhanced its platform with features including mobile tap-to-pay, scan-to-pay, and ACH direct debit.
The company recently launched Payment Reminders, which converts text-to-pay requests into automated collection campaigns through practice telephone numbers. Weave's solution helps healthcare practices improve revenue cycle management, automate tasks, and streamline payment workflows. The ETA will recognize winners at the TRANSACT conference on April 3, 2025.
Weave (NYSE: WEAV) announced a planned CFO transition, with current CFO Alan Taylor set to retire at the end of Q1 2025. Jason Christiansen, currently Vice President of Finance, will succeed Taylor as CFO. Christiansen, who has been with Weave for four years overseeing financial planning and analysis, played a key role in the company's 2021 IPO and business transformation initiatives.
Christiansen's experience includes developing Weave's payments business strategy and managing technology and business intelligence teams. Before joining Weave, he held senior leadership positions at NICE (NASDAQ: NICE) and inContact, bringing significant SaaS scaling experience. He started his career as a CPA at Deloitte and holds degrees from Idaho State University and Utah State University.
The transition is planned to be seamless, with Taylor supporting the handover process before his retirement.
Weave (NYSE: WEAV) reported strong financial results for Q4 and full year 2024. Q4 revenue reached $54.2 million, up 18.6% year-over-year, while full-year revenue grew 19.9% to $204.3 million. The company showed significant improvements in profitability metrics, with Q4 non-GAAP operating income of $1.8 million, compared to a loss of $1.7 million in Q4 2023.
Key highlights include improved gross margins reaching 72.1% in Q4, strong cash flow generation with Q4 free cash flow of $6.1 million, and the addition of 3,995 net new customer locations in 2024, bringing total locations to 34,997. The company maintained solid customer retention with a 98% Dollar-Based Net Retention Rate and 91% Dollar-Based Gross Retention Rate.
Weave also expanded its platform capabilities through new integrations with Prompt and Practice Fusion, enhancing its service offerings for specialty medical practices.
Weave (NYSE: WEAV) announced a new integration with Practice Fusion, a cloud-based Electronic Health Records (EHR) software provider. The integration enhances customer experience for healthcare practices through several key features:
The integration includes automated data sync for patient contact and appointment information, a VoIP phone system with call identification and management features, two-way texting for patient engagement, missed-call texts for automatic follow-ups, and email marketing capabilities with customizable templates.
This partnership aims to help healthcare practices streamline their operations, reduce administrative tasks, and improve patient communication. The integration also includes payment processing features like text-to-pay, online payments, and flexible payment plans to enhance practice profitability.
Weave Communications (NYSE: WEAV) has announced an employment inducement equity award granted to Jeff Tibbs, the company's newly appointed Corporate Controller & VP of Finance. The award, granted on February 6, 2025, consists of restricted stock units for 30,000 shares of Weave's common stock.
The vesting schedule spans three years, with 33% vesting on March 15, 2026, and the remaining 67% vesting in equal quarterly installments over the following two years, contingent upon Mr. Tibbs' continued employment. The award was granted under Weave's 2022 Inducement Equity Incentive Plan and approved by the Compensation Committee under NYSE Rule 303A.08's employment inducement exception.
Weave (NYSE: WEAV), a provider of customer experience and payments software for small and medium-sized healthcare businesses, has scheduled its fourth quarter and full year 2024 financial results release after U.S. markets close on Thursday, February 20, 2025.
The company will host a conference call and webcast at 4:30 p.m. ET to discuss the results and provide a business update. Interested parties can access the call by dialing (412) 902-1020 or toll-free at (877) 502-7186. A live webcast and replay will be available on Weave's investor relations website at investors.getweave.com.
Weave (NYSE: WEAV), a leading customer experience and payments software platform for healthcare businesses, has been named an overall winner at the APPEALIE SaaS and Software Awards in multiple categories including Analytics and Business Intelligence, Customer Service, and ERP and Finance for Small Business and Mid-Market companies.
The recognition was based on several criteria including Net Promoter Scores™, UI/UX, product improvements, and third-party analyst research. Weave was among just 14 SaaS applications recognized for excellence, with award winners averaging over 4.6 stars on major software review platforms.
The company recently launched a redesigned platform featuring AI-powered tools including an Assistant for personalized review responses, branded emails, and automated tasks. The platform's Call Intelligence feature helps healthcare providers analyze call data and identify revenue opportunities. Weave's achievements include ranking first in 23 categories in the G2 2025 Winter Report and recognition on multiple workplace excellence lists.
Weave (NYSE: WEAV) announced a new integration with Prompt, a leading software platform for rehab therapy practices. The integration combines Weave's customer experience and payments platform with Prompt's practice management system to enhance operations for physical therapy practices.
Key features include: a VoIP phone system with Call Pop for instant patient information access, two-way texting capabilities, automated missed-call texts, appointment reminders, automatic data synchronization, and streamlined payment solutions including Text-to-Pay and automated payment reminders.
The integration aims to address common challenges in physical therapy practices such as operational inefficiencies, delayed payments, and high no-show rates. Benefits include increased patient engagement, reduced administrative workload, improved cash flow, scalability, and enhanced patient experience through better communication and appointment tracking.
Weave (NYSE: WEAV), a healthcare customer experience and payments software platform, has achieved significant recognition in G2's 2025 Winter Report, ranking first in 23 categories and earning 45 badges. The company was featured in 87 reports, including recognition as Best Patient Relationship Management Software.
Among recent developments, Weave launched enhanced platform features, including AI-powered Call Intelligence for Healthcare Practices, which enables automated call categorization and revenue opportunity identification. The company topped categories including Small-Business Grid® for Patient Relationship Management, Patient Intake, HIPAA Compliant Messaging, and Optometry.
These achievements follow multiple workplace excellence awards, including ranking among Utah's top 20 best places to work and recognition on Inc.'s Annual List of Best Workplaces for 2024.
A recent survey commissioned by Weave (NYSE: WEAV) reveals significant insights into how different generations use online resources for healthcare decisions. The study of 1,000 U.S. consumers highlights that 43% of Millennials research symptoms before appointments, while 45% of Gen Z use online information to determine appointment necessity.
The survey found that while Baby Boomers primarily trust doctors over online advice, younger generations often come to appointments with internet-based expectations. Notably, 62% of Gen Z patients report feeling upset when their online research-based concerns are dismissed.
Patients prefer trusted websites like WebMD (63%) and Mayo Clinic (47%) for health information. Digital accessibility is crucial, with 39% of patients valuing online chat and 37% seeking 24/7 access to healthcare services.
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