Weave Communications, Inc. - WEAV STOCK NEWS

Weave has surpassed $1 billion in payments processed through Weave Payments, an all-in-one platform designed for small businesses. The company highlights enhancements to its payment solutions, including wireless terminals and Text To Pay, enabling quick and contactless transactions. The CEO emphasizes the significance of communication in managing customer interactions. Weave, recognized in the Forbes Cloud 100 and Inc. 5000, aims to grow its payments offerings further, demonstrating a strong commitment to enhancing customer engagement.

Weave has partnered with Vetter to integrate their platforms, aiming to streamline operations for veterinary practices. This integration will enable automatic data syncing, real-time updates for appointments, and personalized messaging features like birthday greetings and review requests. With the ability to track text communication preferences, Vetter users can enhance client relationships while reducing administrative tasks. This collaboration is designed to help veterinarians focus more on patient care and improve overall business efficiency.

Weave, a customer communication platform, has won the Townie Choice Award® for its patient communication software for the second consecutive year. This recognition highlights the company’s innovation in the dental technology sector, contributing to its reputation among dental professionals. The Townie Choice Awards, now in their 16th year, celebrate peer-recommended products and services in dentistry. Weave's CEO, Roy Banks, expressed gratitude for the award, emphasizing the company's commitment to enhancing communication efficiency in dental practices.

Weave (NYSE: WEAV) has appointed Chris Baird as its first Chief Marketing Officer. With over ten years of experience in B2B SaaS marketing, Baird aims to enhance Weave's marketing strategies and brand awareness. He previously held the CMO position at ObservePoint and was involved in marketing at Adobe. This appointment follows Weave's successful IPO, raising $111.6 million and achieving 42% year-over-year growth in Q3 revenue. Baird expressed enthusiasm for expanding Weave's impact on small businesses.

Weave, a customer communication platform, released research revealing significant shifts in communication technology among small businesses. Commissioned in September 2021, the study examined 1,500 U.S. small business leaders and consumers, particularly in healthcare and home services. Key findings include that 33% of clinics spend over $1,000/month on communication tech, with 61% of patients more likely to pay bills if reminded by text. The report highlights the growing demand for digital tools to enhance customer satisfaction and operational efficiency.

Weave Communications reported a 42% year-over-year revenue increase for Q3 2021, totaling $30.3 million. Despite this growth, the company experienced a GAAP net loss of $14.8 million and a non-GAAP net loss of $10.3 million. The total number of customer locations using the Weave Platform increased to 22,553, reflecting a 31% growth. The company has initiated its IPO with net proceeds of $111.6 million. The outlook for Q4 suggests revenue between $31.5 million and $32.5 million.

Weave Communications will report its Q3 2021 financial results on December 7, 2021, following U.S. market close. A conference call to discuss the results and provide a business update is scheduled for 5 p.m. EST. Interested participants can join the call by dialing (929) 477-0591 or (866) 248-8441, using conference ID 4823211. Weave, known for its all-in-one customer communications platform for small businesses, has received accolades including being part of the Forbes Cloud 100 and Inc. 5000 fastest-growing companies.

Weave Communications has priced its initial public offering at $24.00 per share, offering 5,000,000 shares. Trading is set to begin on the New York Stock Exchange under the ticker symbol WEAV on November 11, 2021, with the offering closing on November 15, 2021, pending customary conditions. Additionally, underwriters have a 30-day option to purchase up to 750,000 additional shares. Major underwriters include Goldman Sachs, BofA Securities, and Citigroup.