Weave Communications, Inc. Q1 FY2026 earnings call

Brett mentioned Q1 was an excellent quarter with revenue growth acceleration to 17.4% y-o-y and operating income of $2.5 million. Added most locations ever in a quarter, revenue retention improved. Strong upsell sales motion with new products like insurance eligibility and AI receptionist. Payments revenue growth accelerated. Weave's solutions for healthcare practices, leveraging AI to automate tasks, with over 50% of customer locations using embedded AI solutions.

Revenue in Q1 2026 was $65.5 million, a 17.4% year-over-year growth. Gross profit was $47.9 million, with a gross margin of 73.2%. Operating income was $2.5 million. Revenue contribution from specialty medical vertical was the largest.

Expected Q2 2026 total revenue to be in range of $67.2M - $68.2M. Q2 operating income expected $2.1M - $3.1M. Full year 2026 revenue outlook raised to $275M - $278M, non-GAAP operating income outlook $10.5M - $13.5M.

Forward-looking statements are subject to various risks and uncertainties described in SEC filings, including but not limited to market competition, adoption of new products, and economic conditions.

Q: About record locations added, Brett and Jason answered on verticals and ASP.

Q: On AI receptionist pricing, Jason explained hybrid subscription.

Q: On NRR and AI, explanation on monthly retention inflection.

Q: On AI product set and location additions, Brett and Jason talked about current product set and customer personas.