Quality Investor

Weave Communications, Inc.

Rank #15Startup

WEAV · NYSE · Healthcare

Weave Communications, Inc. (WEAV) — Rank #15 by gross profitability (GP/assets 0.83) · ROE -33.0% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0001609151 · all metrics point-in-time as of the filing date.

About

Weave Communications, Inc. operates an AI-powered patient communications, engagement, and payments platform for small and medium-sized healthcare businesses.

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It offers AI-receptionist; Unified Phone Number; Customized Phone System, a smarter phone system to identify whether incoming calls are from new or current patients, provide information at every call, and manage heavy call times; Softphones to make and receive calls from anywhere with an internet connection; Text Messaging and SMS response assistant; Missed Call Text that allows practices to respond when a call is missed; Missed Text Auto-Reply that replies to patient text messages by automatically responding to messages received outside of a practice's normal operating hours; Team Chat, a group messaging solution; and Weave Mobile App. It also provides Weave Reviews and Respond Assistant to request, collect, monitor, and respond to reviews; Weave Email Marketing and Email Assistant to create professional emails; Text Connect to interact with their patients online directly through their websites; and Weave Payments, a payment processing solution. The company provides Weave Digital Forms to collect patient information; Online Scheduling that allows patients to request appointments from the practice's website, send automatic scheduling reminders, and personalize each reminder for the patient; Insurance Eligibility, an insurance tool; Insurance Verification; Practice Analytics that provides real-time data on patient retention, appointment scheduling, treatment acceptance rates, and revenue generation; Call Intelligence; and Weave Enterprise for multi-location healthcare practices comprising dental service organizations, vision, veterinary, and medical groups. The company was formerly known as Recall Solutions, LLC and changed its name to Weave Communications, Inc. in October 2015. Weave Communications, Inc.

was founded in 2008 and is headquartered in Lehi, Utah.

Industry
Health Information Services
Sector
Healthcare
State
DE
Filer Category
Emerging growth company
Fiscal Year End
December 31

Price History

WEAV-61.1% · -17.8% CAGRSPY+75.8% · +12.4% CAGR

Company Snapshot

P/S is the primary valuation lens for pre-profit companies.

Market Cap

$587.19M

P/E (annual)

P/S (annual)

2.5

P/B

6.9

P/OCF (annual)

33.5

Shareholder Yield

-6.5%

Employees

904

Industry

Health Information Services

Exchange

NYSE

Signal Flags

2 yellow
Dilution above 2%Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation
Disclosure regressionA previously-disclosed line item is no longer reported — worth checking the filing for why

Quality Profile

Profitability

1/1 pass
GP / assets
0.83
Return on equity
-33.0%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.45
Current ratio
1.25×
Net cash
$47.63M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
13.4%

Growth

1/2 pass
Revenue growth
17.0%
Piotroski F-Score
N/A
Share dilution
6.5%

Terry Smith quality gate

Passes 1/5 Terry Smith thresholds

2 of 5 thresholds not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

16.1%

fairly valued

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 6.5% — per-share value needs a total required return of 22.6% once share-count change is priced in.

vs. own 6-year median revenue growth: 19.9%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

11.3%

r = 10% (base)

16.1%

r = 12%

20.2%

Net debt / market cap: -8.5%

Base FCF: $15.2M3Y mean FCF: $13M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / S

Price / revenue per share

1.8xCheap
1.3xmed 3.9x5.0x

P / B

Price / book value per share

5.1xCheap
5.1xmed 9.0x11.8x

P / GP

Price / gross profit per share

2.5xCheap
2.3xmed 5.4x8.1x

P / FCF

Price / free cash flow per share

27.9xCheap
27.9xmed 65.8x87.2x

Burn rate (cash flow) is the primary read at this stage — TAM and product-market fit aren't metrics this dashboard tracks.

Profitability

Gross profitability (GP / assets)

0.83

Primary signal (Novy-Marx).

100th pctl of 38 SIC 7372 peers

Return on equity

-33.0%

Gross margin

72.1%

54th pctl of 38 SIC 7372 peers

Revenue growth (YoY)

17.0%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

18.9%

Revenue CAGR (5Y)

Earnings CAGR (3Y)

FCF CAGR (3Y)

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.45

6th pctl of 33 SIC 7372 peers (best = lowest)

Current ratio

1.25×

14th pctl of 38 SIC 7372 peers

Quick ratio

0.62×

Net cash

$47.63M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$15.15M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

1.54

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

13.4%

Stock-based comp intensity.

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20192025
Hypergrowth
Startup