Weave Communications, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Weave Communications, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	45.7	79.9	116	142	170	204	239
Cost of revenue	18.5	34.4	49.4	53.3	54.4	58.4	66.7
Gross profit	27.2	45.4	66.5	88.8	116	146	172
Research and development	14.4	20	27	30.7	34	40.2	44.5
Selling and marketing	31.7	39.3	58.2	65.4	70.8	84.6	103
General and administrative	13	25.8	31.6	42.5	45.7	52.5	55.8
Operating expenses	59.1	85	117	139	150	177	203
Operating income	-31.9	-39.6	-50.4	-49.7	-34.4	-31.4	-30.6
Interest expense	0.81	1.1	1.18	1.44	1.92	1.52	1.7
Interest income			0	1.16	2.2	1.85	1.81
Other non-operating income	0.67	0.25	-0.06	0.36	3.32	2.93	1.52
Pre-tax income	-32.1	-40.3	-51.8	-49.6	-30.6	-28.8	-30.1
Income tax	0	0	0.06	0.1	0.26	0.19	-0.92
Net income	-32.1	-40.4	-51.7	-49.7	-31	-28.3	-28.1
EBITDA	-26.2	-30.1	-38.3	-36.7	-22.4	-19.9	-19
EPS, basic	-3.30	-3.75	-2.60	-0.76	-0.46	-0.40	-0.37
EPS, diluted	-3.30	-3.75	-2.60	-0.76	-0.46	-0.40	-0.37
Shares, basic (weighted)	10.3	11.4	20.6	65.1	67.7	71.7	76.3
Shares, diluted (weighted)	10.3	11.4	20.6	65.1	67.7	71.7	76.3

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	80.2	55.7	136	62	50.8	51.6	55
Receivables		2.54	3.06	3.3	3.51	3.74	4.35
Other current assets		2.25	6.46	6.37	6.88	6.3	5.62
Total current assets		67.7	154	133	130	121	105
Property, plant and equipment		18.3	24.5	10.8	9.92	8.44	9.21
Lease right-of-use assets			0	45.1	41.3	37.5	33.8
Goodwill						0	29.5
Intangible assets						0	7.13
Other non-current assets		0.8	0.66	0.84	1.02	2.09	1.73
Total assets		93	187	208	201	189	208
Accounts payable		3.4	4.06	3.79	5.17	8.28	7.26
Accrued liabilities		10.3	12.3	13.6	18.5	17.6	27.9
Deferred revenue		22.9	29.5	34.1	38.9	40	38.1
Short-term debt		0.4	0	10	0
Total current liabilities		44	54.3	72.2	72.9	76.6	84.6
Long-term debt		3.6	10	0
Lease liabilities			0	46.9	43.1	39	34.6
Other non-current liabilities						0	0.2
Total liabilities		55	75.2	125	122	122	126
Total debt		10	10	10	0
Paid-in capital		16.3	294	315	342	359	402
Retained earnings		-130	-182	-232	-263	-291	-319
Other comprehensive income		0	-0.03	-0.03	0.11	-0.57	-0.13
Shareholders' equity	-86	-114	112	83.2	79	67	82.4
Total equity	-86	-114	112	83.2	79	67	82.4
Total liabilities and equity		93	187	208	201	189	208
Shares outstanding		11.9	64.3	65.7	70.1	73.2	78.4

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-32.1	-40.4	-51.7	-49.7	-31	-28.3	-28.1
Depreciation and amortization	5.73	9.43	12.1	13	12	11.5	11.6
Stock-based compensation	1.4	11.6	14.1	18.8	22.8	32.2	32.1
Change in receivables	-1.75	-0.57	-0.87	-0.97	-1.38	-2.1	-1.61
Change in payables	1.86	0.3	0.58	-0.33	1.32	3.12	-1.09
Cash from operations	-22.1	-15.5	-20.4	-12.8	10.2	14.1	17.5
Capital expenditures	-2.47	-2.76	-7.38	-1.9	-1.69	-2.19	-2.39
Acquisitions					0	0	-23.9
Purchases of investments		0	0	-50.9	-66.2	-53.8	-36.8
Sales and maturities of investments			0	0	62.2	66.4	58.5
Cash from investing	-2.47	-3.86	-9.81	-54	-7.74	8.88	-6.85
Stock issued	0.8	0.85	4.17	1.32	12.9	1.73	0.75
Share buybacks	-1.41	0	0
Cash from financing	65	-5.15	110	-7.21	-13.7	-22.2	-7.33
Net change in cash	40.5	-24.5	80.3	-74	-11.2	0.84	3.36
Free cash flow	-24.5	-18.3	-27.7	-14.7	8.53	12	15.2
Interest paid	0.81	1.08	1.18	1.44	1.92	1.52	1.7
Income taxes paid		0	0	0.1	0.26	0.19	0.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $7.35 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	72.4%	Gross profit / revenue.
Operating margin	-8.3%	Operating income / revenue.
EBITDA margin	-4.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	-8.0%	Net income / revenue.
FCF margin	5.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.5%	Cash from operations / revenue.
Return on equity (ROE)	-24.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-9.8%	Net income / average total assets.
Return on invested capital (ROIC)	-45.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	17.1%	Research and development expense / revenue.
Stock-based pay / revenue	10.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.0%	Capital expenditures / revenue.
D&A / revenue	4.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	17.0%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	18.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	24.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	18.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	24.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	30.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	24.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	26.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	23.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-0.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	10.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	17.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	6.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	5.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	46.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.25x	Current assets / current liabilities.
Quick ratio	0.62x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.57x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	59.3%	Total liabilities / total assets.
Interest coverage	-13.8x	Operating income / interest expense.
Working capital	$20.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	17.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$49.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.24x	Revenue / average total assets.
Fixed asset turnover	25.5x	Revenue / average property, plant and equipment.
Receivables turnover	58.0x	Revenue / average receivables.
Days sales outstanding	6 days	365 x average receivables / revenue.
Days payables	42 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	15.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.26	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$3.24	Revenue / diluted weighted shares.
FCF per share	$0.18	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.21	Cash from operations / diluted weighted shares.
Book value per share	$1.06	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$0.61	Tangible book value / shares outstanding.
Cash per share	$0.60	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$588.0M	Share price x shares outstanding.
Enterprise value	$540.4M	Market cap + total debt - cash - short-term investments.
P/S	2.28x	Market cap / revenue.
P/B	6.92x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	12.0x	Market cap / tangible book value, when positive.
P/FCF	41.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	34.9x	Market cap / cash from operations, when positive.
EV/Sales	2.10x	Enterprise value / revenue.
EV/FCF	37.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.4%	Free cash flow / market cap.
Earnings yield	-3.5%	Net income / market cap (the inverse of P/E).

What was Weave Communications, Inc.'s revenue in fiscal 2025?

Weave Communications, Inc. reported revenue of $239.0M for fiscal 2025, 17% higher than the year before.

Was Weave Communications, Inc. profitable in fiscal 2025?

No. It reported a net loss of $28.1M.

How much free cash flow did Weave Communications, Inc. generate in fiscal 2025?

Cash from operations of $17.5M minus capital expenditures of $2.4M left free cash flow of $15.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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