Weave Communications, Inc. (WEAV): History, Ownership, Mission, How It Works & Makes Money

How does a vertical Software-as-a-Service (SaaS) platform like Weave Communications, Inc. (WEAV) capture a fragmented, $7+ billion healthcare market? The company's all-in-one patient engagement and payments solution is clearly resonating, driving Q3 2025 total revenue to $61.3 million, a 17.1% jump year-over-year, and leading management to raise their full-year guidance to a midpoint of $238.5 million. This growth, coupled with a Q3 2025 non-GAAP gross margin of 73.0%, shows a model that is both scaling and becoming more efficient-a crucial signal for any investor or business strategist. Weave is defintely a case study in using AI and integrated payments to simplify the notoriously complex operations of small and medium-sized healthcare practices, but what does its history, ownership, and core business model really tell us about its long-term trajectory?

Weave Communications, Inc. (WEAV) History

If you're looking at Weave Communications, Inc., you need to understand that it didn't start as a public company focused on healthcare; it began as a simple idea to fix bad phone systems in small businesses. Their journey from a Provo, Utah startup to a publicly-traded company on the New York Stock Exchange (NYSE: WEAV) is a masterclass in product-market fit and disciplined growth, especially as they hit strong financial numbers like a Q2 2025 revenue of $58.5 million.

Weave Communications, Inc.'s Founding Timeline

Year established

The company was established in 2008.

Original location

Weave Communications, Inc. was initially founded in Provo, Utah.

Founding team members

The founding team included Brandon Rodman, Jared Rodman, and Zack Herrin.

Initial capital/funding

Initial funding came from the founders' personal savings and loans from friends and family. This bootstrapping phase is defintely a testament to their early conviction.

Weave Communications, Inc.'s Evolution Milestones

Weave Communications, Inc.'s Transformative Moments

The biggest shifts in Weave Communications, Inc.'s trajectory center on two things: moving beyond just a phone system and a laser focus on the healthcare vertical.

The launch of Weave Payments in 2020 was a game-changer. It transformed the company from a communications tool into an all-in-one customer experience and payments platform (SaaS). This move made them an essential part of a small business's revenue cycle, not just an operational cost. That's how you get strong retention metrics, like a Net Revenue Retention (NRR) of 96% in Q2 2025.

The TrueLark acquisition in Q2 2025 for an estimated $35 million is the most recent transformative step. This deal immediately expanded their capabilities into AI-powered workflow automation, aiming to automate up to 45% of administrative tasks in healthcare. It's a clear signal that the future is about intelligent automation, not just communication. Breaking Down Weave Communications, Inc. (WEAV) Financial Health: Key Insights for Investors

• Specialty Medical Dominance: The dedicated focus on verticals like dental, optometry, and veterinary care paid off, with Specialty Medical becoming the second-largest vertical by customer count in Q2 2025.
• Financial Efficiency: Operational discipline has led to a Q2 2025 non-GAAP gross margin of 72.3%, showing the scalability of their platform even with integration costs.
• Mid-Market Expansion: A refined sales strategy, including a dedicated mid-market team, has driven strong growth and lowered customer acquisition cost (CAC) in that segment, which is a key to profitable scaling.

Weave Communications, Inc. (WEAV) Ownership Structure

Weave Communications, Inc. (WEAV) is primarily controlled by institutional investors, a common structure for a publicly-traded Software as a Service (SaaS) company. These institutions, including mutual funds and asset managers, hold the vast majority of the equity, meaning their trading activity can significantly influence the stock price. The leadership team also holds a meaningful stake, aligning their interests with shareholder value, though recent insider sales are a trend to monitor.

Given Company's Current Status

Weave Communications is a publicly traded company, listed on the New York Stock Exchange (NYSE) under the ticker symbol WEAV. As of November 21, 2025, the stock was trading near $5.97 per share. The company's full-year 2025 revenue guidance is projected to be in the range of $238 million to $239 million, reflecting continued growth and a focus on non-GAAP profitability. The company operates on a fiscal year ending December 31.

You can see how this performance aligns with the company's long-term goals by reviewing its Mission Statement, Vision, & Core Values of Weave Communications, Inc. (WEAV).

Given Company's Ownership Breakdown

The ownership structure is heavily weighted toward professional money managers, which means the company's strategy is highly sensitive to the preferences of a relatively small number of large shareholders. Institutional investors, including firms like FMR LLC and The Vanguard Group, Inc., hold a dominant position.

Here's the quick math on who holds the equity, based on recent filings, noting that there is some overlap where venture capital firms are counted in both Institutional and Insider categories due to board representation:

Honestly, when institutions hold this much-nearly 87%-their trading actions are defintely the key driver for stock volatility. The CEO, Brett White, directly holds about 1.6% of the shares outstanding, which is a good signal of management having skin in the game.

Given Company's Leadership

The company is steered by an experienced executive team with a deep background in the SaaS and healthcare technology sectors. The average tenure of the management team is approximately 2.5 years as of late 2025, providing a blend of fresh perspective and operational knowledge.

• Brett White, Chief Executive Officer (CEO): Appointed in August 2022, Mr. White has over three years of tenure as CEO and previously served as President and COO of Weave Communications.
• Jason Christiansen, Chief Financial Officer (CFO): Assumed the CFO role in a planned succession at the end of Q1 2025, having previously served as Vice President of Finance and playing a pivotal role in the company's IPO.
• Marcus Bertilson, Chief Operating Officer (COO): Brings a wealth of experience in scaling technology to small and medium-sized business (SMB) customers.
• Chris Baird, Chief Marketing Officer (CMO): Leads the data-driven marketing strategy, with nearly two decades of experience in high-growth B2B SaaS companies.

The Board of Directors is chaired by Stuart C. Harvey, Jr., who also serves as a senior advisor to Blackstone, a significant indicator of the financial and strategic experience guiding the company.

Weave Communications, Inc. (WEAV) Mission and Values

Weave Communications, Inc. aims to streamline communication for small businesses, fostering stronger relationships with their customers. The company's core purpose goes beyond its expected $238 million to $239 million in full-year 2025 revenue, reflecting a deep commitment to customer experience and business growth for its small business clients.

Weave Communications' Core Purpose

You're looking for the DNA of a company, and for Weave Communications, it's all about empowering the small-to-medium business (SMB). Their mission and values are the engine driving their product roadmap, which is why they hit a record 73.0% non-GAAP gross margin in Q3 2025. That efficiency is a direct result of their focus on the customer journey.

Official mission statement

The mission is clear: to make life easier for the local businesses you interact with every day. It's a simple, powerful goal that translates directly into their software platform.

• Enable small businesses everywhere to unify, modernize and personalize every customer interaction.
• Help small businesses communicate easier with their customers.

Honestly, a mission statement should be this concise; it cuts straight to the action they want their customers to take.

Vision statement

The vision statement maps out the long-term impact of that mission, focusing on transformation and the realization of their customers' goals. It's less about market share and more about partnership.

• We are for small business. Together, we will transform how they attract, communicate and engage customers, grow their business and realize their dreams.

This is a big vision, but it's grounded in the reality that small businesses are the backbone of the economy. They are also laying the foundation for their next chapter of growth, with the expectation of achieving a non-GAAP operating income of between $3.3 million and $4.3 million for the full year 2025.

Weave Communications' Core Values

The company's core values are the behavioral guideposts for achieving that vision. They are defintely action-oriented, not just corporate buzzwords.

• Stay hungry
• Care more
• Think creatively
• Do the right thing
• The customer is everything

These values ensure that as the company scales-with Q3 2025 revenue at $61.3 million-the focus remains on the specific needs of the small business owner. You can find a deeper dive into their cultural framework here: Mission Statement, Vision, & Core Values of Weave Communications, Inc. (WEAV).

Weave Communications slogan/tagline

The company's slogan is the simplest expression of its value proposition, summarizing the benefit of its all-in-one communication platform.

• Better Connection. Better Experience.

It's a straightforward promise that underpins everything they do, from the first patient call to the final payment.

Weave Communications, Inc. (WEAV) How It Works

Weave Communications, Inc. operates as a vertical Software-as-a-Service (SaaS) platform, providing an all-in-one customer experience and payments solution specifically for small and medium-sized healthcare practices. The company essentially unifies a practice's communication, scheduling, and payment workflows, turning a fragmented front office into a single, efficient system.

Weave Communications' Product/Service Portfolio

The company's core value is delivered through a unified platform that replaces multiple disparate tools. This focus on integration is what makes the platform sticky for its over 30,000 customers as of late 2025.

Weave Communications' Operational Framework

You need to see how the platform actually drives value, and for Weave Communications, it comes down to deep integration and a clear vertical focus. They don't try to be a general-purpose tool; they are purpose-built for healthcare workflows. This is defintely a key differentiator.

• Deep Practice Management System (PMS) Integration: The platform integrates deeply with hundreds of practice management and electronic medical record (EMR) systems, which is crucial for automating tasks like appointment reminders and billing. This expansion is why they increased their integrated market by approximately 60,000 locations in Q1 2025 alone.
• AI-Powered Automation: Following the acquisition of TrueLark in Q2 2025, the operational focus is on embedding AI to handle front-office tasks, like 24/7 patient engagement and automated scheduling, freeing up staff.
• Payments-as-a-Growth-Engine: Payments revenue is a major focus, growing at more than twice the rate of total company revenue in Q3 2025, even though it still accounts for under 10% of total revenue. This upsell opportunity is a clear operational lever for future revenue growth.

Weave Communications' Strategic Advantages

The company's strategic edge is built on its specialized knowledge and the stickiness of its all-in-one platform. When you look at the numbers, their full-year 2025 revenue guidance is strong, projected to be between $238 million and $239 million, which shows their model is working. Here's the quick math: a non-GAAP gross margin of 73.0% in Q3 2025 reflects efficient management of their core subscription business.

• Durable Vertical Moat: Unlike horizontal software, Weave Communications understands the specific regulatory and workflow nuances of healthcare, which is a significant competitive barrier. This precision is critical in an industry where patient care is on the line.
• Unified Platform Lock-in: Combining unified communications, deep system integrations, intelligent automation, and enterprise-grade security into a single, trusted platform creates a high switching cost for customers. Once a practice's phone system, scheduling, and payments are all running through one vendor, churn risk drops.
• Cash Flow and Profitability Trajectory: The company raised its full-year 2025 non-GAAP operating income guidance to a range of $3.3 million to $4.3 million, demonstrating a clear path to non-GAAP profitability. Plus, year-to-date free cash flow was $8.5 million as of Q3 2025, indicating solid financial discipline.
• Specialty Medical Expansion: The strategic push into Specialty Medical verticals (like MedSpa and plastic surgery) is a key growth vector, becoming the second-largest vertical by customer count in Q2 2025.

If you want to dig deeper into the ownership structure and market sentiment, I recommend Exploring Weave Communications, Inc. (WEAV) Investor Profile: Who's Buying and Why?

Weave Communications, Inc. (WEAV) How It Makes Money

Weave Communications, Inc. primarily makes money through a subscription-based Software-as-a-Service (SaaS) model, selling its unified platform of patient engagement, communication, and payment tools to small and medium-sized healthcare practices across the US and Canada. The real financial engine, though, is the rapidly growing payments processing business, which acts as a high-margin add-on to the core subscription.

Weave Communications, Inc.'s Revenue Breakdown

The company's revenue structure is typical of a vertical SaaS business, where a high-retention subscription base provides stability, and a transactional component (payments) drives accelerated growth. Payments revenue is a key strategic focus, growing at more than double the rate of total revenue growth as of Q3 2025. To be fair, payments still account for a relatively small portion of the total, but that's the opportunity.

Business Economics

The core of the business model is to embed the platform so deeply into a practice's daily operations that it becomes indispensable-a high-switching-cost strategy. The platform integrates with the practice management systems of over 40 different partners, making it the central hub for patient communication, scheduling, and payment workflows. This integration is defintely the moat.

• Pricing Model: The base subscription starts around $249.00 per location per month, bundling Voice over Internet Protocol (VoIP) phones, two-way texting, and appointment reminders.
• Upsell Opportunity: The payments platform is the major upsell. Payments revenue grew at over twice the total company growth rate in Q3 2025, but the payments attach rate (the percentage of customers using the payments feature) remains low, indicating a significant runway for future revenue expansion.
• Retention Dynamics: Gross Revenue Retention (GRR) was 90% in Q3 2025, meaning 90% of revenue from existing customers was retained, which is solid for an SMB-focused SaaS platform. Net Revenue Retention (NRR) was 94%. This NRR figure is slightly lower than previous periods, a sign that while customers are sticking around (good GRR), the upselling (cross-selling to drive NRR > 100%) has softened a bit after lapping a prior price increase.
• Hardware Drag: The company still sells some phone hardware and has associated onboarding costs. These lines are low-margin, with phone hardware showing a -5% gross margin and onboarding a steep -173% gross margin in Q3 2025, which weighs down the consolidated margin. The strategy is clearly to prioritize the high-margin software and payments over this non-core business.

Weave Communications, Inc.'s Financial Performance

The financial picture as of late 2025 shows a company balancing strong growth with a clear path to non-GAAP profitability, which is what investors want to see from a mature vertical SaaS player. The full-year 2025 revenue is expected to be between $238 million and $239 million. Here's the quick math on the key health metrics:

• Total Revenue (FY 2025 Guidance): The company raised its full-year revenue guidance to a midpoint of $238.5 million, reflecting accelerating growth in the back half of the year.
• Gross Margin (Q3 2025): Non-GAAP gross margin hit a record high of 73.0%. This is a fantastic margin for a business that includes hardware and payments, underscoring the high profitability of the core subscription software.
• Operating Profitability (FY 2025 Guidance): Full-year non-GAAP operating income is guided to be between $3.3 million and $4.3 million, a significant year-over-year improvement and a clear signal of operating leverage.
• Cash Flow (Q3 2025): The business generated $5.0 million in free cash flow in Q3 2025. This is a critical metric, showing the business is self-funding its growth and not reliant on external capital.
• Net Loss (Q3 2025): While non-GAAP net income was a positive $2.0 million, the GAAP net loss was $8.7 million. What this estimate hides is the impact of non-cash items like stock-based compensation and costs related to the TrueLark acquisition, which are excluded from the non-GAAP number.

If you want to dig deeper into who is betting on this model, you should check out Exploring Weave Communications, Inc. (WEAV) Investor Profile: Who's Buying and Why?

Weave Communications, Inc. (WEAV) Market Position & Future Outlook

Weave Communications, Inc. is positioned as a leading vertical Software as a Service (SaaS) platform for small and medium-sized healthcare practices, demonstrating solid revenue growth and a clear path toward profitability, evidenced by its non-GAAP income from operations of $1.7 million in Q3 2025. The company's future trajectory hinges on successfully executing its AI-powered product roadmap and expanding its footprint in the higher-value specialty medical market, a key growth vector.

Competitive Landscape

In the Patient Relationship Management (PRM) space, Weave Communications competes primarily against other all-in-one communication and payment platforms. The table below illustrates a segment of the competitive landscape, using estimated annual revenue as a proxy for market presence in the SMB healthcare communication and engagement market, as specific market share percentages are not publicly disclosed. Honestly, this market is more fragmented than you'd think, so these three represent a strong core.

Opportunities & Challenges

The company operates in a U.S. Total Addressable Market (TAM) estimated to be over $10 billion, which provides significant room for expansion. The strategic focus on integrating AI is defintely the right move, but execution risk remains a factor.

Industry Position

Weave Communications holds a strong position as a market leader in the Patient Relationship Management (PRM) software category for small and medium-sized healthcare practices, particularly in its traditional dental, optometry, and veterinary strongholds. The company's all-in-one model-combining Voice over Internet Protocol (VoIP), two-way texting, and payments-is its core competitive advantage.

• Achieve top-rated status in 34 categories in G2's 2025 Summer Report, including Patient Relationship Management.
• The TTM revenue of $229.79 million ending September 30, 2025, reflects solid, double-digit growth (Q3 2025 revenue grew 17.1% year-over-year).
• The high non-GAAP gross margin of 73.0% in Q3 2025 shows the inherent scalability of its vertical SaaS model.
• New integrations with key Electronic Medical Records (EMR) systems like Prompt, Practice Fusion, and Veradigm are expanding the serviceable market beyond its original dental focus.

For a deeper dive into the company's financial stability and operational metrics, you should read Breaking Down Weave Communications, Inc. (WEAV) Financial Health: Key Insights for Investors.