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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 has announced a new partnership with Patterson Dental, integrating its customer communication platform with the Fuse cloud-based dental practice management software. This collaboration aims to enhance patient communication for dental practices nationwide. The integration provides automated features such as data syncing, review requests, and customized messaging, streamlining operations for Fuse users. With Weave, practices can efficiently manage patient interactions while improving customer engagement and operational success.
Weave (NYSE: WEAV) has entered a multi-year partnership with Sunbit to integrate Buy Now, Pay Later (BNPL) technology into Weave's patient communications platform. This collaboration aims to alleviate financial burdens for patients, allowing them to pay for healthcare services over time with fair terms and no fees. Since launching its payment solutions in 2019, Weave has expanded its offerings significantly. Sunbit's BNPL service is accessible in over 13,000 U.S. locations, while Weave serves more than 23,000. This integration is expected to enhance patient experiences and improve revenue for healthcare practices.
Weave (NYSE: WEAV) has announced a strategic partnership with Provet Cloud by Nordhealth, integrating their platforms to enhance veterinary practice management. This collaboration responds to the growing demand for pet care, with pet ownership in the U.S. rising to 70%. The partnership aims to streamline operations for veterinary professionals while increasing revenue and improving customer engagement. Weave Plus will allow automated task management, appointment scheduling, and communication features to enhance service efficiency and business growth in the North American market.
Weave (NYSE: WEAV) has been named a finalist for the SIIA CODiE Awards in the Best Healthcare Technology Solution category, highlighting its innovative customer communication platform designed for small healthcare practices. The announcement precedes the announcement of category winners on June 8, 2022. Weave’s offerings include automated review requests, customized messaging, and a mobile calendar, aimed at improving patient engagement and operational efficiency. The company has also garnered multiple industry accolades, positioning itself as a leader in healthcare technology.
Weave has been named among the 100 Fastest-Growing Veteran-Owned Businesses by Syracuse University’s Institute for Veterans and Military Families in partnership with Inc. Magazine. The ranking highlights Weave's rapid growth under the leadership of CEO Roy Banks, a proud U.S. Navy veteran. Since Banks took over in December 2020, Weave has seen significant achievements, including its IPO on Veteran’s Day 2021. The company is recognized for its innovative customer communication platform, fostering a people-first culture, and being listed in elite programs such as the Forbes Cloud 100.
Weave Communications, Inc. (NYSE: WEAV) reported a total revenue of $33.3 million for Q1 2022, marking a 30% year-over-year increase from $25.7 million in Q1 2021. Despite the revenue growth, the GAAP loss from operations widened to $13.5 million compared to $8.7 million a year prior. Non-GAAP loss from operations also increased to $10.1 million. The company anticipates Q2 2022 revenue to be between $33.0 - $34.0 million and a full-year revenue forecast of $139.0 - $142.0 million. Leadership changes include the appointment of Brett White as President & COO and Brendan Neish as CPO.
Weave (NYSE: WEAV) announces a milestone in its channel partnership program, signing its 250th partner less than a year after launch. The program has significantly enhanced Weave's reputation among Managed Service Providers (MSPs) serving small and medium-sized businesses in the healthcare sector. This growth reflects the potential of Weave's customer communication platform to empower MSPs and improve operational efficiency for their clients. Noteworthy partners include TCG and iTelecom, showcasing Weave's expanding influence.
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