Weave munications(US:WEAV)2026-02-19 21:01Revenue Performance - Fourth quarter total revenue reached $63.4 million, reflecting a 17.0% year-over-year increase from $54.2 million in Q4 2024[5] - Full year total revenue was $239.0 million, also up 17.0% year-over-year compared to $204.3 million in 2024[10] - Revenue for Q4 2025 was $63,403,000, representing a 17.5% increase from $54,169,000 in Q4 2024[36] - Subscription and payment processing revenue increased to $60,589,000 for the three months ended December 31, 2025, up from $52,126,000 in 2024, representing a growth of 8.3%[41] - The company expects first quarter 2026 total revenue to be between $64.2 million and $64.8 million, and full year revenue to be between $273.0 million and $276.0 million[12] Gross Margin and Profitability - Fourth quarter GAAP gross margin improved to 72.7%, up 60 basis points from 72.1% in Q4 2024[5] - Full year GAAP gross margin was 72.1%, an increase of 70 basis points from 71.4% in 2024[10] - Gross profit for the year ended December 31, 2025, was $172,308,000, up from $145,882,000 in 2024, indicating an increase of 18.1%[36] - The gross profit for subscription and payment processing was $47,582,000, with a gross margin of 78.5% for the three months ended December 31, 2025[41] - Non-GAAP gross profit for the same period was $46,479,000, reflecting a gross margin of 73.3%[45] Cash Flow and Operating Activities - Full year net cash provided by operating activities was $17.5 million, up $3.4 million from $14.1 million in 2024[10] - Total cash provided by operating activities was $6,245,000 for the three months ended December 31, 2025, compared to $6,674,000 in 2024[39] - Net cash provided by operating activities for the year ended December 31, 2025, was $17.540 million, up from $14.149 million in 2024, a growth of 24.4%[49] - Free cash flow for the full year was $12.9 million, an increase of $2.5 million from $10.4 million in 2024[10] - Free cash flow for Q4 2025 was $4.397 million, down from $6.125 million in Q4 2024, representing a decrease of 28.3%[49] Customer Metrics - The company added 4,628 net new customer locations in 2025, bringing the total to 39,625 as of December 31, 2025[10] - The Dollar-Based Net Retention Rate (NRR) was 93% as of December 31, 2025[10] - The dollar-based gross revenue retention (GRR) calculation reflects the effect of customer location terminations but does not account for revenue expansion or new customer additions[26] Expenses and Losses - Operating expenses for the year ended December 31, 2025, totaled $202,918,000, up from $177,295,000 in 2024, marking an increase of 14.5%[36] - The company reported a net loss of $1,848,000 for Q4 2025, compared to a net loss of $6,711,000 in Q4 2024, showing a significant improvement[36] - Total net loss for the year ended December 31, 2025, was $28.052 million, a slight improvement from $28.346 million in 2024[48] - Sales and marketing expenses increased to $27,528,000 for the three months ended December 31, 2025, compared to $21,934,000 in 2024, marking a rise of 25.6%[46] Future Outlook - The company plans to integrate the acquisition of TrueLark, which may impact future customer retention rates and overall revenue growth[27] - Forward-looking statements indicate potential revenue growth for the full year 2026, contingent on successful customer acquisition and retention strategies[28] - Non-GAAP income from operations for the full year 2026 is projected to be between $8.0 million and $12.0 million[12]