Weave Communications Inc Stock Price, News & Analysis

Weave announces its inaugural User Conference, Weave Connect, on October 26, 2022, aimed at helping small and medium-sized businesses grow and improve communication. The virtual event will feature workshops, breakout sessions, and access to on-demand resources, including case studies and ebooks, at no cost for over 130,000 users.

Key leaders will share insights on new solutions like Insurance Verification and Online Scheduling, enhancing user experience.

Weave announces findings from its research, The 2022 State of Healthcare Staffing, highlighting significant staffing shortages in small healthcare businesses. The study, based on over 500 healthcare professionals, reveals that 2 out of 3 small healthcare practices are short-staffed, with 83% reporting staff turnover in the past year. Despite 97% acknowledging the need for proper technology to enhance patient experiences, only 27% have actually invested in these tools. The findings underscore the challenges faced by healthcare providers in meeting rising patient expectations amid ongoing staffing crises.

Weave (NYSE: WEAV) appointed Brooke Shreeve as its new Chief People Officer, following her successful leadership of the People Team this year. With a rich HR background at various organizations, including Wex Inc. and Kohls, Shreeve aims to further enhance Weave’s People First culture. Weave has garnered several accolades, including the 2022 Top Workplace USA and the 2022 Inspiring Workplace. The Board expressed confidence in Shreeve's expertise across HR operations and employee engagement initiatives.

Weave has been recognized on the Utah Business Fast 50 list for the fourth consecutive year, ranking 13th overall. This ranking highlights Weave's remarkable growth, evaluated over five years in terms of revenue and compound annual growth rate, and underscores its standing as a leading tech company in Utah.

Since its public debut on the New York Stock Exchange in November 2021, Weave has expanded its customer base, revenue, and product offerings significantly. This acknowledgment reflects Weave's commitment to enhancing customer experiences across various sectors.

Weave Communications, Inc. (NYSE: WEAV) reported a strong Q2 2022 performance with total revenue of $34.9 million, up 24% year-over-year. Subscription and Payments revenue grew by 28%. Despite the revenue growth, the company reported a GAAP loss from operations of $14.6 million. Interim CEO Brett White has taken over following the resignation of Roy Banks for health reasons. The company’s third-quarter revenue is projected between $35.0 million and $36.0 million, with continued non-GAAP losses.

Weave (NYSE: WEAV) has launched a new Buy Now, Pay Later (BNPL) solution to enhance payment flexibility for healthcare providers and their patients. This offering, available through a partnership with Sunbit, is accessible to over 22,000 Weave customer locations in the U.S. The BNPL service boasts a 90% approval rate and quick 30-second applications, aiming to alleviate payment collection burdens for small practices. This initiative follows Weave's recent launch of an insurance verification tool, further expanding its suite of services for healthcare professionals.