Weave Communications (WEAV) Q4 2025 earnings summary

Executive summary

• Achieved Q4 revenue of $63.4M and full-year revenue of $239M, both up 17% year-over-year, with record gross margin and operating income at $2.3M, the highest to date.

• Platform serves over 39,000 customer locations, automating millions of patient interactions monthly and driving strong engagement and retention.

• Focused on AI-powered solutions for SMB healthcare practices, streamlining operations, payments, and patient engagement.

• Expanded product suite and AI capabilities, including the acquisition of TrueLark, which increased TAM by $7B to $22B.

• Specialty medical became the second-largest vertical by location count, with record additions in Q4.

Financial highlights

• Q4 revenue: $63.4M, up 17% year-over-year; full-year revenue: $239M, up 17%.

• Q4 non-GAAP gross margin: 73.3%, up 70 bps year-over-year; full-year non-GAAP gross margin: 72.7%, up 80 bps.

• Q4 non-GAAP operating income: $2.3M (3.6% margin), up $500K year-over-year; full-year non-GAAP operating income: $4.1M (1.7% margin).

• Q4 free cash flow: $4.4M; full-year free cash flow: $12.9M, up $2.5M year-over-year.

• Ended 2025 with $81.7M in cash and short-term investments.

Outlook and guidance

• Q1 2026 revenue expected between $64.2M and $64.8M; operating income between $1M and $2M.

• Full-year 2026 revenue guidance: $273M–$276M; non-GAAP operating income: $8M–$12M.

• Anticipates improved sales and marketing efficiency and margin expansion in 2026.

• New AI products expected to positively impact revenue growth in the second half of 2026.