WEAV

• Core Business & Value Proposition

  • Weave is a unified AI-powered patient engagement and payments platform purpose-built for independent and multi-location healthcare practices, focused on solving three core industry pain points: unfilled scheduling, staffing shortages and rising operating costs, and unaddressed revenue leakage
  • The platform owns the end-to-end patient-practice communication layer, delivering higher patient engagement than generic short-code or random number messaging, with automated workflows for appointment booking, confirmation, reminders, and rescheduling that reduce no-shows and keep treatment chairs full
  • Weave automates high-volume manual administrative tasks (including insurance verification, missed call follow-up, and patient intake) to let leaner staff teams focus on patient care rather than paperwork, with multiple customer examples showing annual overhead savings of $50,000+ and massive reductions in time spent on insurance verification
  • The platform addresses revenue leakage by automating post-appointment collections for small unpaid balances, supporting flexible patient payment plans, and enabling fast text-to-pay, with one customer collecting more than $2 million in previously uncollected revenue via Weave payments

• AI Product Development

  • Weave added 70% more AI-powered features to the platform in the past year; Q2 2026 saw 70 million custom AI interactions, a 165% year-over-year increase, with Call Intelligence interactions up 143% year-over-year
  • The AI Receptionist product delivers 24/7 automated call and text answering, patient question resolution, and appointment scheduling/management, solving gaps from understaffing and after-hours coverage; early access to omnichannel voice capabilities launched in May 2026, with very positive customer feedback including doubled front-desk effectiveness and 100% coverage of missed calls
  • AI automation elevates (rather than replaces) front office staff, freeing them to focus on patient care and practice growth rather than routine administrative work

• Go-to-Market Strategy Updates

  • Weave has scaled sufficiently to shift to vertical-specific go-to-market, with specialized sales and marketing focused on vertical-specific pain points, which has improved lead conversion and new location growth
  • Weave implemented a new SDR model for outbound sales, splitting roles so SDRs focus on lead generation and senior account executives focus exclusively on demoing and closing deals, which is expected to improve sales efficiency and growth per dollar of sales and marketing spend
  • Q2 2026 saw record gross and net new location additions (especially in dental), while sales and marketing expenses as a percentage of revenue fell 240 basis points sequentially, hitting the target of more growth per sales and marketing dollar
  • The transition to the new SDR model created a temporary adjustment period from May to July 2026, with lead distribution calibration issues leading to new deal bookings coming in below expectations despite strong overall customer demand; Weave accelerated the full transition to complete in August 2026 to compress the adjustment period, and has already corrected lead routing and incentive alignment issues

• Full year 2026 total revenue guidance is set to a range of $273 million to $275 million, revised downward slightly due to the temporary go-to-market transition impact that will push some booked revenue into later 2026
• Full year 2026 non-GAAP operating income guidance is raised to a range of $12 million to $14 million, reflecting faster-than-expected improvements in operating efficiency
• Third quarter 2026 total revenue is expected to be in the range of $68.6 million to $69.6 million, with non-GAAP operating income expected between $3 million and $4 million
• Management expects the enhanced, more efficient go-to-market model to support sustained long-term revenue growth and continued operating leverage that will drive increasing profitability over time

Weave does not break out formal product segment financials beyond core vertical market categorization for new location additions. The three established core verticals are dental, optometry, and veterinary medicine, with a growing fourth vertical of specialty medical. In Q2 2026, Weave achieved a record quarter for both gross and net new location additions, with the largest increase coming from the growing specialty medical vertical. All three established verticals (dental, optometry, veterinary) saw accelerating new location growth, with dental posting its strongest gross and net new location growth in 8 quarters. No absolute revenue or revenue contribution percentage figures are provided for individual vertical or product segments. Overall company Q2 2026 total revenue is $67.5 million, with 15.5% year-over-year growth, and payments revenue growing at approximately twice the rate of total core revenue.

• The transition to the new verticalized SDR-based go-to-market model created temporary execution disruption, leading to lower-than-expected new deal bookings in May-July 2026 that will negatively impact 2026 full year revenue relative to original projections
• Recent increases in vendor messaging usage fees, credit card fees (from the growing share of customers paying annually in advance), and other vendor agreement price increases create partial headwinds to gross margin expansion
• Only a portion of the unscheduled patient follow-up opportunities surfaced by Call Intelligence are currently acted on by practice staff, leaving potential revenue capture untapped in the current operating model

Q: How does record Q2 new location growth align with the downward revenue guidance revision and go-to-market transition disruption? / A: Strong new location growth in Q2 primarily reflects flow from deals closed before the SDR transition began. The booking shortfall from transition disruptions in May-July 2026 will mostly impact revenue in Q3 and Q4 2026, with only minimal impact reflected in Q2 results, leading to the moderate downward full-year revenue revision. Early indicators from the completed transition in early August are positive, with faster ramp-up because existing outbound team members filled most new SDR roles. The overall sales team is smaller than the prior combined outbound model, but reorganized into dedicated SDR and account executive roles.\n\nQ: What opportunity does the deeper AthenaOne integration create in the specialty medical vertical, and how will it impact unit economics? / A: Weave jumped from a basic level 1 (contact sync only) integration to a robust level 4 (read-write across multiple EHR tables) integration, and gained access to over 160,000 specialty providers via the Athena Health marketplace. Deeper EHR integrations consistently improve unit economics, and specialty medical has historically had lower ASP, higher CAC, and lower retention than Weave's established verticals due to fewer prior integrations. This deeper integration is already driving improved ASP in integrated specialty medical segments, and we expect it to gradually lift overall vertical unit economics.\n\nQ: What drove dental's strongest new location growth in 8 quarters, and is this growth sustainable? / A: The improvement is directly tied to verticalization of the inbound sales and marketing teams, which lets focused sellers with dental industry expertise address vertical-specific pain points, rather than splitting time across multiple specialty verticals. Stronger dental relationships with industry groups like the American Dental Association also contributed. Management views this improved growth as sustainable, not a one-quarter anomaly, and remains optimistic about Weave's long-term position in the dental vertical.\n\nQ: How is growing AI adoption on the Weave platform translating to improved financial results? / A: Most high-impact new AI capabilities (like AI Receptionist and Call Intelligence) are sold as incremental add-on modules or included in higher-tier bundles, driving direct increases in ARPU. Some AI tools (like review response assistants) are not directly monetized but improve product stickiness and retention. AI also makes it easier to demonstrate clear ROI to prospects and customers, reducing sales friction and increasing LTV while lowering CAC.