Weave munications(US:WEAV)2025-05-05 22:36Financial Performance - Weave's TTM Q1'25 total revenue reached $213 million, demonstrating a 20% year-over-year growth[15] - TTM Q1'25 subscription and payment processing revenue also grew by 20% year-over-year, reaching $204 million[14, 15] - The company achieved $2.2 million in TTM Non-GAAP operating income, marking an $11.1 million improvement year-over-year[15] - Q1'25 total revenue was $56 million, an 18% increase year-over-year[22] - Q1'25 adjusted EBITDA was $1 million, a $1 million increase year-over-year[22] Customer & Retention Metrics - Weave serves over 35,000 customer locations[14] - The company reported a Q1 2025 gross revenue retention rate of 91%[22] - Net revenue retention rate for Q1 2025 was 98%, a 2% increase year-over-year[22] Gross Margin - Weave's Q1 2025 Non-GAAP gross margin was 72.1%, reflecting a 170 bps improvement year-over-year[22] Market Opportunity - Weave estimates its total addressable market (TAM) in the DOV (Dental, Optometry, Veterinary) market in the US to be $3 billion[53] - Expanding into specialty medical verticals increases the TAM to $5 billion[53] - The total addressable market including all medical verticals in the US is estimated at $10 billion[53]