Weave Communications (WEAV) Q1 2026 earnings summary

Executive summary

• Achieved Q1 2026 revenue of $65.5 million, up 17.4% year-over-year, surpassing guidance and marking record customer location additions.

• Over 50% of customer locations now use at least one embedded AI solution, with strong adoption across medical and dental verticals.

• Non-GAAP operating income reached $2.5 million, up from breakeven, and adjusted EBITDA was $3.7 million, up from $1.0 million year-over-year.

• Net loss narrowed to $5.8 million from $8.8 million in Q1 2025, reflecting improved operational efficiency.

• Focused on AI-powered automation, operational efficiency, and expansion into new healthcare verticals.

Financial highlights

• Q1 2026 revenue was $65.5 million, up 17.4% year-over-year.

• Non-GAAP gross profit grew to $47.9 million, with non-GAAP gross margin at 73.2%, up 110 basis points year-over-year.

• Adjusted EBITDA was $3.7 million, up from $1.0 million year-over-year.

• Free cash flow was negative $7.1 million, reflecting seasonal disbursements and increased investment.

• Ended Q1 with $42.2 million in cash and $30.5 million in short-term investments.

Outlook and guidance

• Q2 2026 revenue expected between $67.2 million and $68.2 million; non-GAAP operating income guidance of $2.1 million to $3.1 million.

• Full-year 2026 revenue outlook raised to $275 million–$278 million; non-GAAP operating income expected at $10.5 million–$13.5 million.

• Management expects continued revenue growth driven by customer acquisition, retention, and cross-selling of new AI-enabled products.