Welcome to our dedicated page for Weave Communications news (Ticker: WEAV), a resource for investors and traders seeking the latest updates and insights on Weave Communications stock.
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 Communications, Inc. (NYSE: WEAV) disclosed that it had approximately $2 million in total deposits with Silicon Valley Bank (SVB), representing less than 2% of its total cash and short-term investments. The company had no cash equivalents at SVB and had invested in money market funds managed by a third party, mitigating exposure from SVB's insolvency. Following SVB's receivership announcement on March 12, 2023, which protects all depositors, Weave does not perceive significant risk. Additionally, it holds a $50 million revolving line of credit with SVB, of which $10 million has been drawn, with no plans for further borrowing currently.
Weave (NYSE: WEAV) has been recognized in Y Combinator’s Top Companies 2023 list, showcasing its status as a leading B2B SaaS firm valued over $150 million. This accolade underscores Weave's growth and innovation since its participation in Y Combinator nearly a decade ago. CEO Brett White highlighted the company's ongoing commitment to delivering business value, especially to healthcare practices. In the past year, Weave expanded its offerings, including enhancements to its Payments product and new scheduling and insurance verification tools. The company has also received recognition on various prestigious lists, including Deloitte’s Technology Fast 500.
Weave Communications, Inc. (NYSE: WEAV) reported impressive financial results for Q4 and the full year of 2022. Q4 total revenue reached $37.7 million, an 18% increase year-over-year, while full-year revenue was $142.1 million, up 23% from 2021. The company significantly improved its gross and operating margins. Although it reported a GAAP net loss of $9.3 million in Q4, this was an improvement from $14.3 million in the same quarter last year. For 2023, Weave anticipates total revenue between $156.0 million and $160.0 million.
Weave (NYSE: WEAV) has announced a new integration with Dolphin Cloud, enhancing its patient engagement software for dental offices. This partnership aims to streamline operations amid staffing shortages by automating key tasks like appointment reminders. Weave states that automated reminders can save dental offices up to three hours weekly. The integration includes features such as Call Pop, Customer Profile, and customizable reminders. Weave has received industry recognition, being named a leader in patient engagement software, further solidifying its position in the market.
Weave (NYSE: WEAV) has been recognized in G2’s 2023 Best Software Awards as one of the 50 Best Products for Small Business. This accolade is based on verified customer reviews, showcasing Weave's strong market presence alongside competitors like Hubspot and Asana. The platform enhances customer interactions through features such as missed-call texts and online scheduling, aiding small businesses in attracting and retaining clients. Weave's recent accolades include winning a Dentaltown Townie Award and being named Best SMB CRM Solution at the Martech Breakthrough Awards. The company continues to position itself as a leader in customer communications.
Weave (NYSE: WEAV) has significantly enhanced operations for Advanced Foot and Ankle Center, a leading podiatry provider in Utah, through its Weave Unify platform. The center has seen a remarkable increase in Google reviews, totaling over 1,900 with an impressive 4.9/5 star rating, thanks to automated text messages that solicit feedback post-appointment. This has solidified its reputation, driving patient growth and effectively increasing visibility against competitors. CEO Brett White emphasized Weave's commitment to supporting multi-location healthcare practices for improved patient engagement and streamlined operations.
Weave Communications (NYSE: WEAV) will release its financial results for Q4 and the full year 2022 after U.S. market close on February 22, 2023. Management will host a conference call and webcast at 5 p.m. EST to discuss the results and provide a business update. Interested participants can join the call by dialing (412) 902-1020 or (877) 502-7186 and using conference ID 13735741. The live webcast will be available on the investor relations page of Weave's website.
Weave is recognized for its excellence in customer engagement solutions, having earned accolades such as Forbes Cloud 100 and a Certified Great Place to Work.
Weave (NYSE: WEAV) released the 2023 Healthcare Business Insights Report, highlighting challenges in patient experience amid inflation and recession fears. Key findings show that 51% of healthcare practices increased prices recently, with 49% planning further hikes in 2023. Patient anxiety before appointments stands at 53%, and 62% feel unheard during visits. Providers recognize rising patient expectations, with 40% citing demanding patients as a major inconvenience. Notably, 46% of offices haven't updated their technology in over two years, despite 98% of providers linking technology to enhanced patient experiences.
Weave (NYSE: WEAV) has been recognized as a leader in Veterinary Practice Management software according to G2’s 2023 Winter Report. The company announced new software integrations with Provet Cloud, Vetter, and Patterson Veterinary’s NaVetor, enhancing its offerings to veterinary clinics. Weave leads in six software categories based on customer reviews, including Patient Engagement Software and HIPAA Compliant Texting. The firm has also received accolades such as the Dentaltown Townie Choice Award and EyeVote Readers’ Choice Award for its solutions in 2022.
Weave (NYSE: WEAV) has announced a new integration with NaVetor, enhancing communication for veterinary practices. This partnership, facilitated by Patterson Veterinary, aims to improve efficiency in client interactions, crucial for busy veterinary offices. Key features include real-time syncing of client data, text preference management, and appointment confirmation abilities. Weave's platform is recognized for modernizing customer engagement in small and medium-sized businesses, as evidenced by numerous accolades, including membership in the Forbes Cloud 100.
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