Weave munications(WEAV)2025-02-20 21:09Revenue Performance - Fourth quarter total revenue reached 45.7 million in Q4 2023[5] - Full year total revenue was 170.5 million in 2023[9] - Revenue for Q4 2024 was 45,692,000 in Q4 2023[37] - Total revenue for the year ended December 31, 2024, was 162,715,000 in 2023, marking a growth of 20.5%[43] - Subscription and payment processing revenue increased to 43,726,000 in Q4 2023, representing a growth of 8.5%[43] Profitability and Loss - Fourth quarter GAAP operating loss improved to 0.6 million improvement year-over-year[5] - Full year GAAP operating loss was 3.0 million from the previous year[5] - Net loss for Q4 2024 was 7,039,000 in Q4 2023[37] - Non-GAAP net income for Q4 2024 was 792,000 in Q4 2023, showing a turnaround in profitability[51] - The company reported a GAAP net loss margin of 12.4% for Q4 2024, an improvement from 15.4% in Q4 2023[51] Cash Flow and Assets - Fourth quarter net cash provided by operating activities was 3.7 million in Q4 2023[5] - Full year free cash flow increased to 6.5 million in 2023[5] - Free cash flow was positive at 3,742,000 in Q4 2023[40] - Free cash flow for Q4 2024 was 2,935,000 in Q4 2023, indicating a year-over-year increase of 108%[53] - Cash and cash equivalents at the end of Q4 2024 were 50,756,000 at the end of Q4 2023[39] Customer Growth and Retention - The company added 3,995 net new customer locations in 2024, totaling 34,997 customer locations as of December 31, 2024[9] - The Dollar-Based Net Retention Rate (NRR) was 98% as of December 31, 2024[9] Expenses - Operating expenses for the year ended December 31, 2024, totaled 150,457,000 in 2023[37] - Stock-based compensation for the year ended December 31, 2024, amounted to 22,823,000 in 2023[40] - Research and development expenses increased to 9,133,000 in Q4 2023, reflecting a focus on innovation[48] Gross Profit and Margins - Gross profit for the year ended December 31, 2024, was 116,091,000 in 2023[37] - Gross profit for subscription and payment processing reached 33,505,000 in Q4 2023, with a gross margin of 78.1%[43] - Non-GAAP gross profit for Q4 2024 was 31,830,000 in Q4 2023, reflecting a year-over-year increase of 23.5%[47] - The gross margin for hardware sales improved to (44.6)% in Q4 2024 from (63.6)% in Q4 2023, indicating better cost management[43] Future Projections - The company expects first quarter 2025 total revenue to be between 55.0 million[10] - Non-GAAP net income for the first quarter of 2025 is projected to be between 0.3 million[10]