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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 announced user-interface (UI) updates specifically designed for veterinary practices. These enhancements, developed based on extensive feedback from veterinary professionals, aim to streamline daily operations and improve experiences for clinic staff and clients. The updates focus on putting pet information at the forefront, making pets the primary profile throughout the Weave platform.
Key improvements include:
- Enhanced pet name visibility in various platform views
- One-click vaccination record sharing with automated messaging options
Weave (NYSE: WEAV) has launched an AI-powered Call Intelligence product for healthcare practices. This innovative solution uses generative AI to analyze call data, enabling practices to:
- Elevate patient experiences
- Boost operational efficiency
- Unlock new revenue streams
Key features include automated call categorization, revenue opportunity identification, and location insights. The product addresses challenges such as call insights and time-consuming manual data analysis. Weave's competitive advantage stems from its decade-long accumulation of call, text, and voicemail data used to train its AI models.
Weave (NYSE: WEAV), a leading all-in-one customer experience software and payments platform, has achieved significant recognition in G2's 2024 Fall Report. The company ranked first in 21 categories and earned 48 badges, including Best Patient Relationship Management and Best Usability for Small Business. This recognition is based on authentic user reviews across various categories.
Weave's recent platform enhancements include Payment Reminders for improved revenue cycle management and an integration with eClinicalWorks, the largest cloud-based EHR software in the U.S. The company's CEO, Brett White, emphasized their commitment to customer-driven innovation and helping healthcare practices grow.
Weave's strong performance in the G2 report follows multiple awards for workplace excellence, business performance, and employee satisfaction, including being named a Great Place to Work in the U.S. and India.
Weave (NYSE: WEAV), a leading all-in-one customer experience software and payments platform, has been certified as a Great Place to Work in the U.S. for the sixth consecutive year and in India. The certification is based on employee feedback, with 83% of U.S. employees and 94% of Indian employees agreeing that Weave is a great place to work. This significantly surpasses the average ratings for typical companies in both regions.
Weave's culture emphasizes a people-first approach, promoting professional growth and authenticity. The company provides tools for small- and medium-sized healthcare practices to enhance patient experiences. Weave has also received recognition from Utah Business Fast 50, Women Tech Council 2024 Shatter List, and Inc. Best Workplaces 2024, demonstrating its commitment to creating a supportive and dynamic work environment.
Weave (NYSE: WEAV) has introduced Payment Reminders, a new feature enhancing its payment product suite for small and medium-sized healthcare practices. This automation tool turns each Weave payment invoice or Text to Pay request into a 'set-it-and-forget-it' collection campaign, improving revenue cycle management with less effort.
The feature aligns with patient preferences, as 63% of patients prefer text payment options. Weave Payments offers a comprehensive processing solution, including text payment requests, credit card and ACH Direct Debit acceptance, online and in-person payment options, and flexible payment plans. All requests are sent from the practice's phone number, ensuring patient trust.
Weave (NYSE: WEAV), a leading all-in-one customer experience software and payments platform, has been named to the Utah Business Fast 50 list for the sixth consecutive year. This recognition highlights Weave's excellent performance and significant contribution to Utah's economy. The Fast 50 List selection is based on a combination of revenue growth and total revenue.
Weave's mission focuses on enhancing healthcare experiences for practices, patients, and interactions. Their solutions help healthcare providers optimize operations, manage payments, and drive growth through improved patient communication and engagement. CEO Brett White expressed excitement about the recognition, emphasizing the company's commitment to customer-first solutions.
This accolade follows other recent achievements, including top rankings in G2's 2024 Summer Report and winning a fourth consecutive Dental Product Shopper Readers' Choice Award for Patient Communication and Dental Analytic software.
Weave (NYSE: WEAV) has won its fourth consecutive Dental Product Shopper Readers' Choice Award for Patient Communication software and Dental Analytic software. This recognition comes from dental professionals across the United States who vote for products and services that enhance dental practices.
Weave's all-in-one customer experience software and payments platform offers customizable solutions for dental practices, including:
- Two-way texting
- VoIP
- Reviews management
- Analytics for process improvement
Branden Neish, Chief Product and Technology Officer at Weave, expressed pride in the company's ability to create a platform that businesses can tailor to their specific needs and those of their patients. This award adds to Weave's recent accolades, including being named a leader in G2's 2024 Summer Report.
Weave (NYSE: WEAV) reported strong Q2 2024 financial results, with total revenue of $50.6 million, up 21.4% year-over-year. The company achieved significant improvements in gross and operating margins, with GAAP gross margin increasing to 71.4% and non-GAAP gross margin reaching 71.9%. Notably, Weave reported positive adjusted EBITDA for the first time in company history.
Key highlights include:
- Net cash provided by operating activities of $22.7 million
- Free cash flow of $21.2 million
- Dollar-Based Net Retention Rate (NRR) of 97%
- Dollar-Based Gross Retention Rate (GRR) of 92%
Weave also announced new integrations, a partnership with Patterson Dental, and the launch of Weave Enterprise for multi-location practices. The company provided guidance for Q3 and full-year 2024, projecting continued growth.
Weave (NYSE: WEAV), a leading all-in-one experience platform for small and medium-sized healthcare businesses, has announced an integration with eClinicalWorks, the largest cloud-based EHR software in the U.S. This integration aims to streamline communication workflows for healthcare providers. Key benefits include:
1. Improved operational efficiency through automated reminders and Missed Call Text feature.
2. Enhanced patient experience with Call Pop notifications displaying patient information.
3. Increased data accuracy via daily automated contact sync from eClinicalWorks to Weave.
The integration is expected to help healthcare providers focus more on delivering exceptional service and quality of care.
Weave (NYSE: WEAV), a leading all-in-one experience software platform for small and medium-sized healthcare businesses, has announced the date for its second quarter 2024 financial results release and conference call. The company will release its financial results after U.S. markets close on Wednesday, July 31, 2024. Following the release, Weave's management will host a conference call and webcast at 4:30 p.m. ET to discuss the financial results and provide a business update.
Interested individuals can access the conference call by dialing (412) 902-1020 or toll-free at (877) 502-7186. A live webcast and replay of the conference call will be available on the investor relations page of Weave's website at investors.getweave.com.
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