Weave munications(US:WEAV)2024-02-21 21:22Overview - Weave's mission is to elevate the patient experience through a unified platform that improves business operations so healthcare professionals can focus on patient care and realize their dreams[10] - Weave provides an all-in-one customer experience software platform for dental, optometry, veterinary, and medical practices[11] - Weave has a strong balance sheet with $108.8 million in cash and short-term investments as of December 31, 2023[12] Market Opportunity - Weave estimates its total addressable market (TAM) at $12.5 billion, including all US healthcare SMBs and service-oriented SMBs[19] - The company estimates the dental, optometry, and veterinary TAM at $5.0 billion[19] - Weave's trailing twelve months revenue from Q1'23 through Q4'23 was $0.17 billion[19] Product Impact - Weave offices schedule an average of 9 additional patients a week after joining[41] - Weave's texting feature saves offices an average of 2 hours & 50 minutes per day[41] - Weave helps increase revenue by $3,708 per month on average by reducing no-show rates and last-minute cancellations[41] Financial Performance - Weave achieved 21.2% year-over-year revenue growth in Q4 2023[56] - The company has shown 8 consecutive quarters of improving non-GAAP gross margin, with a 300 bps improvement in Q4'23 compared to Q4'22[55] - Weave has also shown 8 consecutive quarters of improving non-GAAP operating margin, with a 740 bps improvement in Q4'23 compared to Q4'22[55] - Weave's Q1-24 revenue guidance is between $45.2 million and $46.2 million, with a non-GAAP loss from operations between $(2.5 million) and $(1.5 million)[86]