Weave Communications, Inc. ( (WEAV) ) has released its Q1 earnings. Here is a breakdown of the information Weave Communications, Inc. presented to its investors.
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Weave Communications, Inc. is a leading provider of customer experience and payments software solutions tailored for small and medium-sized healthcare businesses, offering a comprehensive platform that enhances patient engagement and operational efficiency.
In its first quarter of 2025, Weave Communications reported a total revenue of $55.8 million, marking an 18.3% increase from the previous year. The company also announced a strategic move to acquire TrueLark, an AI-powered front-desk automation provider, which is expected to bolster its AI capabilities and expand its market reach.
Key financial highlights include a GAAP gross margin increase to 71.6% and a non-GAAP gross margin of 72.1%. Despite a GAAP net loss of $8.8 million, the company achieved a non-GAAP net income of $0.5 million. Additionally, Weave’s adjusted EBITDA improved to $1.0 million, reflecting a positive shift from the previous year’s negative figures.
The acquisition of TrueLark is a significant development, positioning Weave at the forefront of AI-driven workflow automation in the healthcare sector. This move is expected to enhance Weave’s service offerings by enabling 24/7 patient engagement and streamlining front-office operations, ultimately improving customer experiences and operational efficiency.
Looking ahead, Weave Communications remains focused on its growth trajectory, with expectations for continued revenue growth in the upcoming quarters. The company is poised to leverage the TrueLark acquisition to further its vision of creating the ‘practice of the future’ and solidify its position in the healthcare technology market.