Weave Communications (WEAV) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $67.5 million, up 16% year-over-year, driven by new customer acquisitions, expansion in dental and specialty medical verticals, and strong payments business growth.

• Non-GAAP operating margin expanded to 4.7%, a 460 basis point improvement, with non-GAAP operating income of $3.2 million and net loss narrowing to $4.3 million from $8.7 million last year.

• Free cash flow improved to $8.7 million, up from $4.5 million, with a margin of 13% for the quarter.

• Launched AI Receptionist, expanded EHR integrations, and added 70% more AI-powered features year-over-year, with over half of customer locations using embedded AI solutions.

• Recognized as a category leader in G2’s 2026 software awards and ranked #1 in Patient Relationship Management.

Financial highlights

• Gross profit grew to $49 million, with gross margin at 72.6% (non-GAAP) and 72% (GAAP), up 30 basis points year-over-year.

• Adjusted EBITDA for Q2 2026 was $4.6 million, up from $1.1 million in Q2 2025.

• Subscription and payment processing revenue was $64.6 million, with a gross margin of 77.9%–78.3%.

• Net loss was $4.3 million ($0.05 per share), improved from $8.7 million ($0.11 per share) in Q2 2025.

• Free cash flow margin was 13%; operating cash flow margin was 15%.

Outlook and guidance

• Q3 2026 revenue expected between $68.6 million and $69.6 million; non-GAAP operating income projected at $3.0 million–$4.0 million.

• Full-year 2026 revenue guidance raised to $273 million–$275 million; non-GAAP operating income expected at $12 million–$14 million.

• Management anticipates continued revenue growth, operational efficiency, and further improvement in operating cash flows.