Slides
Page 1
1 Weave Overview JULY 2025 Q2 2025 NYSE : WEAV
Page 2
2 This presentation has been prepared by Weave Communications, Inc. (“Weave”, “we”, “us”, or “our”) for informational purposes only and not for any other purpose. This presentation contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995 that are based on our management’s current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs and on information currently available to management. Forward-looking statements include all statements other than statements of historical fact contained in this presentation, including statements regarding information or predictions concerning our future financial performance, strategies, business plans and objectives, long-term target model, potential market and growth opportunities, competitive position, technological or market trends and industry environment. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “predict,” “project,” “potential,” “should,” “will,” “would” or the negative of these terms or other comparable terminology. Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements including, but not limited to, those related to our business and financial performance, our ability to attract and retain talent, leadership changes, our ability to attract and retain customers, our focus on serving small businesses, our ability to develop new products and enhance our platform and products, our ability to respond rapidly to emerging technology trends, our ability to execute on our business strategy, our ability to compete effectively and our ability to manage growth. Moreover, we operate in a very competitive and rapidly changing environment in which new risks may emerge from time to time. It is not possible for us to predict all risks nor can we assess the impact of all factors on our business or the extent to which any factor, or the combination of factors, may cause our actual results or performance to differ materially from those contained in any forward-looking statements we may make. These factors, together with those described in greater detail in our Annual Report on Form 10-K that we filed with the Securities and Exchange Commission (“SEC”) on March 13, 2025, may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. All forward-looking statements herein reflect our opinions only as of the date of this presentation, and we undertake no obligation, and expressly disclaim any obligation, to update forward-looking statements herein in light of new information or future events, except to the extent required by law. This presentation contains statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. Although we believe such information is accurate and that the sources from which it has been obtained are reliable, we have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this presentation. This presentation includes non-GAAP financial measures, including free cash flow and adjusted loss from operations. These non-GAAP financial measures are in addition to, and not as a substitute for or superior to measures of financial performance prepared in accordance with GAAP . There are a number of limitations related to the use of these non-GAAP financial measures. For example, other companies may calculate similarly-titled non-GAAP financial measures differently. Refer to the Appendix for a reconciliation of these Non-GAAP financial measures to the most directly comparable GAAP measures. Safe Harbor Statement
Page 3
3 Elevate the patient experience through a unified platform that improves business operations so healthcare professionals can focus on patient care and realize their dreams. Our vision JULY 2025 3
Page 4
4 A better healthcare experience. Every practice. Every patient. Every interaction. Who we are Leading all-in-one customer communications, engagement, and payments platform purpose-built for SMB healthcare practices. What we do Help practices grow, keep schedules full, optimize operations, get paid faster, and elevate patient experiences. How we do it Integrated vertical SaaS platform bringing together phones, text, scheduling, payments, reviews, and more. Our platform powers millions of patient interactions each month, reflecting strong daily user engagement. Scalable, cloud- based infrastructure drives high margins, efficient onboarding, and strong retention—positioning us to expand across verticals and grow share of wallet. TTM Q2’25 Total Revenue 18% YoY Growth TTM Free Cash Flow $7.4M improvement YoY $13.1M TTM Q2’25 Subscription & Payment Processing Revenue 19% YoY Growth $221M $217M 35,000+ Customer locations
Page 5
5 Investor highlights AI Powered Communication & Payments Platform Streamlines communications, accelerates collections, and delivers call insights to help dental, optometry, veterinary and medical practices create better experiences for their patients and clients. Resilient Customer Base SMB healthcare practices are ready to modernize and the verticals we serve have proven resilient despite economic uncertainty. Multiple New Vectors of Growth Expanding through specialty medical verticals, payments, AI powered solutions, mid-market, and partnerships. Efficiently Scaling the Business Effectively balancing growth while driving operating leverage. JULY 2025 1 2 3 4
Page 6
6 Financial Highlights $221M TTM Q2’25 Total Revenue 18% YoY Growth 72.3% Q2 2025 Non-GAAP Gross Margin 40 bps Improvement YoY $3.4M 1H 2025 Free Cash Flow $2.7M YoY Increase $204M TTM Q1’25 Subscription & Payment Processing Revenue 20% YoY Growth 96% Q2 2025 Net Revenue Retention Rate $58.5M Q2’25 Total Revenue 16% YoY Growth JULY 2025 6 90% Q2 2025 Gross Revenue Retention Rate
Page 7
7 OurCustomer JULY 2025 7
Page 8
8 We serve those who serve others. Our customers are healthcare practitioners in Dental, Optometry, Veterinary and Specialty Medical Practices.
Page 9
9 Delivering consistent growth Running a modern healthcare practice is complicated Elevating patient experiences Accelerating revenue cycles Optimizing operations JULY 2025
Page 10
10 No-shows, cancellations, and fluctuating demand make it challenging to keep schedules full 1in 3 300 47% 80% Practices miss 1 out of 3 calls during business hours The average dental practice misses 300 calls a month 47% of bookings occur after hours 80% of missed calls are related to booking requests, and 65% come from potential new patients JULY 2025 10 Source: http://groupdentistrynow.com/dso-group-blog/patient-communication/
Page 11
11 The patient experience is ready for an upgrade JULY 2025 60% of Americans find the process of seeing a new healthcare provider to be frustrating 79% want the ability to use technology when managing their healthcare experience 52% say kindness from the office staff is important when meeting with healthcare providers for the first time 79% 60% 52% Source: https://www.tegria.com/resources/thought-leadership/healthcare-patients-prioritize-convenience-and-technology
Page 12
12 ‘Artificial intelligence is the catalyst for a new era in healthcare.’ Dr. Matt Nejad, DDS JULY 2025 From First Call to Final Treatment
Page 13
13 They have to manage a patchwork of point solutions Running a healthcare business means deploying, managing, and paying for a patchwork of point solutions, often without dedicated IT, business intelligence, finance, or marketing teams JULY 2025 8x8 RingCentral Spectrum Comcast Business Zipwhip Twilio BirdEye Podium GatherUp Square Clover Jotform Zoho Vagaro Setmore Mailchimp Klaviyo HubSpot REVIEWS SCHEDULINGPAYMENTS PHONES FORMS MESSAGING EMAIL
Page 14
14 Weave is a unified platform purpose built for SMB healthcare practices. Reviews. Phones. Texting. Reminders. Payments. Analytics. AI. JULY 2025
Page 15
15 Easy advocacy Automated review requests drive more five-star reviews, boosting online presence and bringing in more patients. Reduce no-shows Send custom appointment reminders and get confirmations by text. Weave streamlines operations and elevates patient experiences JULY 2025 Keep schedules running on time Digital forms are sent prior to the appointment to save everyone time and improve data input accuracy. Immediately respond to patients Send an automatic text message asking how you can help when you miss a call or a text from a patient.
Page 16
16 Get paid faster Flexible payment options improve treatment plan acceptance and text-to pay and reminders speed up payments with less follow-up. JULY 2025 Weave streamlines operations and elevates practice experiences Quieter offices and flexible work Answer calls and communicate with patients from anywhere within the US and Canada with softphones and our mobile app. Optimize operations Call, message, and practice analytics provide powerful insights to make smarter decisions.
Page 17
17 AI-powered tools that actually help Response Assistant Drafts responses to online reviews to help practices more easily protect and enhance their reputation. 2023 2024 2025 JULY 2025 Voicemail Transcriptions Allows front desk staff to quickly and privately read voicemails—ideal for busy settings where sensitive info is shared. Email Assistant Creates personalized, on-brand emails fast—boosting awareness, engagement, and retention. Message Tagging Automatically tags and prioritizes messages to streamline communication and help customers stay on top of what matters most. Call Intelligence Analyzes call recordings, detects patient sentiment and identifies patient needs and revenue opportunities. Text Enhancer Instantly improves tone, clarity, and impact when messaging patients from the Weave mobile app. Weave to acquire TrueLark, accelerating AI-powered front office automation
Page 18
18JULY 2025 18 Over a decade of patient interactions—billions of calls, voicemails, and texts—fine tune our large language models.
Page 19
19 JULY 2025 Built to scale Single login to manage all locations and settings Consolidate phones, forms, faxes, reminders, texting, and team communication Centralized inbox for messages across locations Centralized management of reviews, and appointment requests Unify payment requests
Page 20
20 Weave is the platform of record for patient communications, engagement, and payments for Affordable Care, America’s largest dental support organization for tooth replacement solutions. JULY 2025 America’s largest dental support organization for tooth replacement solutions 42 states Appointment no-shows decreased by 36% 97% of forms are completed prior to appointment 44% more on-time appointments 3hrs Time spent playing phone tag has been reduced by three hours per day. Case Study
Page 21
21 Weave TAM Opportunity in DOV Historical focus has been Dental, Optometry, and Veterinary verticals. Significant opportunity remains to grow within our current TAM. International Target Markets (DOVM) Further Expanding TAM Significant opportunity to expand TAM within medical verticals beyond Weave’s current focus markets. DOV + All Medical (US) $0.2B2 Weave Trailing 12 Month Revenue $3B3 $10B3 $22B1,4Future TAM Opportunity Target international healthcare SMBs. DOV (US) Growing Opportunity in Current TAM Weave's near-term focus is expanding into specialty medical verticals, including Physical Therapy, MedSpa, Plastic Surgery, and Primary Care. $5B3 1. Estimated total locations of 2.3 million, multiplied by * total ARR (subscription + payments + TrueLark) per location 2. Trailing twelve months of revenue, Q3'24 through Q2'25 3. Sources used to derive TAM for each vertical include IBIS, BLS, Census, industry-specific organizations (such as the American Dental Association, American Optometric Association, American Veterinary Medical Association, etc), market research reports, and proprietary Weave data 4. International TAM consists of locations within 17 target countries (Australia, New Zealand, Canada, UK, Ireland, Germany, Austria, France, Netherlands, Belgium, Switzerland, Norway, Sweden, Denmark, Finland, Czechia, and Singapore); TAM estimates derived from Passport by Euromonitor labor statistics within each vertical DOV + Select Med (US)
Page 22
22 JULY 2025 As we create more value, our opportunity grows
Page 23
23 Why Weave 23JULY 2025
Page 24
24 Modernized tech stack and intuitive user experience JULY 2025 24 What makes us unique
Page 25
25 With over 85 integration partners, including the industry’s biggest names, we can work with almost any customer’s preferred system of record. Authorized integrations. More customer value. JULY 2025
Page 26
26 We manage the trusted practice phone number. Communications come from a single, recognizable source. What makes us unique JULY 2025
Page 27
27 Payments integrated into communication workflows JULY 2025 27 What makes us unique FPO
Page 28
28 Weave leads the G2 Grid® for Patient Relationship Management Source: G2 Grid for Patient Relationship Management (PRM) JULY 2025 Satisfaction Market Presence
Page 29
29 The future of healthcare operations 29JULY 2025
Page 30
30 AI Insurance Verification and Claims AI-driven claims processing will verify patient coverage and expedite reimbursements. JULY 2025 AI Scheduling Predictive AI scheduling will optimize appointment bookings and reduce cancellations. What the future looks like for our customers AI Marketing AI-powered tools automate and personalize the patient journey—boosting loyalty, advocacy, and treatment adherence.
Page 31
31 AI Billing and Payments AI-powered billing systems will streamline invoicing, automate collections, and prevent payment fraud. JULY 2025 What the future looks like for our customers AI Receptionist AI voice assistants will handle inbound calls and messages. AI Treatment Planning AI-powered diagnostic tools will analyze patient data to recommend optimized treatment plans and predict long-term outcomes.
Page 32
32 JULY 2025 The AI-powered future is designed to help healthcare practices better serve people. In the AI-powered future, practitioners and their teams will gain back critical time that could be spent serving their patients. Staff focus on valuable patient interactions—not mundane tasks and paperwork—while operations run 24/7. No more calling on collections. No more waiting on the phone with insurance companies. And practices can scale without hiring more staff. Patient Practice Staff Available 8—5PM Patient + Practice Barriers Valuable Patient Interactions From friction to fulfillment AI Agent Available 24/7
Page 33
33 33 JULY 2025
Page 34
34 TrueLark is an AI virtual receptionist that responds to 100% of missed calls and delivers 24/7 patient support via SMS and web chat—scheduling, answering questions, and sending reminders without staff involvement. JULY 2025 What is TrueLark? 34
Page 35
35 A smart fit for Weave Brings new AI capabilities to the Weave platform Brings Mid Market customer relationships to Weave Team of seasoned machine learning and AI experts TrueLark Weave TrueLark + Weave Large customer base with significant cross-sell opportunity GTM Engine to drive demand in single location practices and adjacent vertical markets Patient interaction data provides an unparalleled training dataset to further enhance TrueLark’s AI capabilities. Material step forward in bringing to life Weave’s vision of AI offloading mundane tasks so healthcare practices and their staff can focus on providing exceptional care. Helps practices to scale without the need to hire additional staff JULY 2025
Page 36
36 Missed calls = missed opportunities TrueLark works around the clock via SMS and web chat, ensuring every missed call is responded to promptly. JULY 2025
Page 37
37 Make marketing budgets go farther TrueLark sends an instant text message to new leads via SMS or web chat, allowing them to book appointments directly within the text conversation. If a patient doesn’t book in the initial conversation, TrueLark follows-up with a helpful SMS to keep the conversation going and offer another chance to book. JULY 2025 of leads book within 10 minutes or not at all64%
Page 38
38 Accomplish more with limited time of patient calls fielded by TrueLark don’t require staff follow-up80% JULY 2025
Page 39
39 $500,000 Annual increase in EBITDA (est.) ‘TrueLark is our complete call handling solution. We call it a project goalkeeper or ‘no patient left behind.’ It pays for itself if just one new patient shows up.’ Myles McAllister, COO at SGA Dental Partners $5,000 Additional revenue per practice from auto financing link in communications 900 New patients in the first four months of using TrueLark Case Study
Page 40
40 ‘On a monthly basis, TrueLark books or reschedules over 1200 appointments for us. And somebody at the front desk would otherwise be doing that. So there’s a tremendous amount of cost savings.’ Phillip Toh, Co-founder appointments booked monthly by TrueLark1200 JULY 2025 Case Study
Page 41
41 Financials 41JULY 2025
Page 42
42 Our growth vectors JULY 2025 Specialty medical verticals Integration partnerships Payments Multi-location practices AI-powered innovations
Page 43
43 Topline Revenue Growth at Scale ($M) 15.6% Q2—2025 YoY Revenue Growth 15.6% Q2—23 $41.7 Q3—23 $43.5 Q4—23 $45.7 $47.2 Q1—24 $50.6 Q2—24 $52.4 Q3—24 $54.2 Q4—24 $55.8 Q1—25 JULY 2025 $58.5 Q2—25
Page 44
44 Q2—23 9.5% 23.6% Q3—23 4.2% 18.4% Q4—23 3.8% 17.5% 2.9% 17.3% Q1—24 1.9% 18.3% Q2—24 12.7% Q3—24 Our Path to Profitability —Operating margin +200 basis points 13.6% Q4—24 GAAP Op Margin% Non-GAAP Op Margin % 0.1% 16.7% Q1—25 JULY 2025 3.3%2.7% 0.1% 17.4% Q2—25
Page 45
45 Strong Progress on Gross Margin GAAP GM% Non-GAAP GM% Q2—23 67.9% 67.3% Q3—23 69.3% 68.7% Q4—23 69.7% 69.1% Q1—24 70.4% 69.9% Q2—24 71.9% 71.4% Q3—24 72.5% 72.0% Q4—24 72.6% 72.1% +40 basis points Q1—25 72.1% 71.6% JULY 2025 58% Non-GAAP Gross Margin at IPO (2021) Q2—25 72.3% 71.7%
Page 46
46 Cash from Operations and Free Cash Flow ($M) 2021 2022 2023 $12.8 $20.4 $30.2 2024 $15.9 $6.5 $10.2 $10.4 $14.1 Free Cash Flow Cash from Operations JULY 2025 1H’25 $3.4 $5.2 1H’24 $3.0 $0.7
Page 47
47 2008 Est. Customer locations 35K+ As of 12/31/2024 1 JULY 2025
Page 48
48 People First. Always. JULY 2025
Page 49
49 Weave Milestones Weave becomes the first Utah company to graduate from Y Combinator, a prestigious startup accelerator that receives thousands of applications each year Weave reaches 5,000 customer locations November 11th, Weave lists on the NYSE under ticker symbol “WEAV” Weave reaches 20,000 customer locations Weave reaches 10,000 customer locations Weave reaches 25,000 customer locations Weave reaches 15,000 customer locations Weave reaches more than 31,000 customer locations Company Founded SAAS platform for dentists is launched Pets need Weave, too! Weave capitalizes on its momentum by expanding into the Veterinary market Weave takes a bold step forward, adding its first new Vertical —Optometry New Weave platform launches, with significant enhancements for single and multi- location practices 2008 2014 2011 2017 2015 2018 2020 2019 2021 2023 2022 2024 2025 Weave acquired TrueLark, accelerating AI-powered front office automation JULY 2025
Page 50
50 Leadership team JULY 2025 Brett White Chief Executive Officer Jason Christiansen Chief Financial Officer Erin Goodsell Chief Legal Officer David McNeil Chief Revenue Officer Marcus Bertilson Chief Operating Officer Chris Baird Chief Marketing Officer Brooke Shreeve Chief People Officer Abhi Sharma Chief Technology Officer
Page 51
51 Appendix 51JULY 2025
Page 52
52 Revenue and Operating Income Guidance JULY 2025
Page 53
53 Operating Income (Loss) Reconciliation (Non-GAAP) (in thousands) 53JULY 2025
Page 54
54 Free Cash Flow Reconciliation (Non-GAAP) (in thousands) 54JULY 2025
Page 55
55 Disaggregated Revenue and Cost of Revenue (GAAP) (in thousands) 55JULY 2025
Page 56
56 Adjusted EBITDA (Non-GAAP) (in thousands) 56JULY 2025
Page 57
57 Gross Margin Reconciliation (Non-GAAP) (in thousands) 57JULY 2025
Page 58
58 Thankyou 58JULY 2025