Weave Communications, Inc. reported a revenue of $239.0 million for the fiscal year ending December 31, 2025, marking a 17% increase from $204.3 million in 2024. The company continues to operate at a loss, with a net loss of $28.1 million for 2025, slightly improved from a net loss of $28.3 million in the previous year. The increase in revenue was primarily driven by the addition of new customer locations, which contributed approximately $23.9 million, while existing customers accounted for $10.8 million of the growth.
The company experienced a rise in operational costs, with total costs of revenue increasing to $66.7 million from $58.4 million in 2024. This increase was attributed to higher direct costs associated with customer support and growth, including cloud infrastructure and personnel-related expenses. Despite the rise in costs, Weave's gross margin improved to 72% in 2025, up from 71% in 2024, reflecting a favorable customer mix and efficiencies in managing third-party costs.
Weave's customer base expanded significantly, with nearly 40,000 locations under subscription as of December 31, 2025, compared to approximately 35,000 locations the previous year. The company also reported a dollar-based net retention rate of 93% and a gross retention rate of 89%, indicating a solid ability to retain and grow revenue from existing customers. The company continues to focus on enhancing its platform, recently launching new products such as an AI-powered receptionist and insurance eligibility tools, which are expected to drive further customer engagement and revenue growth.
In terms of strategic developments, Weave completed the acquisition of TrueLark, an AI-powered receptionist platform, for $35.9 million in May 2025. This acquisition is anticipated to enhance Weave's product offerings and customer engagement capabilities. The company has also expanded its workforce, increasing its employee count to 904 as of December 31, 2025, with a focus on hiring engineers and customer support staff in various international locations.
Looking ahead, Weave aims to continue its growth trajectory by expanding into new healthcare verticals and enhancing its product offerings. The company has indicated that it expects fluctuations in growth rates and operational challenges as it scales its operations. Despite the ongoing losses, Weave's management remains optimistic about achieving profitability in the future, contingent on effective customer acquisition and retention strategies, as well as the successful integration of new products and technologies.
About Weave Communications, Inc.
Weave Communications provides an all-in-one customer experience and payments platform for small and medium-sized healthcare practices. Its solutions unify communication channels, automate patient engagement, streamline billing, and support practice management. Serving over 30,000 customers across various healthcare verticals in the U.S. and Canada, Weave enhances operational efficiency, patient loyalty, and revenue growth through intuitive, integrated software tailored to SMB healthcare needs.
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