WEAV - Earnings call transcript Q2 2024 | Weave Communications, Inc.

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Operator

Greetings, and welcome to the Weave Second Quarter 2024 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mark McReynolds, Head of Investor Relations. Thank you.

You may begin.

Mark McReynolds

Thank you, Sachi. to Quarter welcome Earnings and afternoon, Weave's XXXX Second Call. Good Brett on and today's me White, call With are CEO; CFO. Alan Taylor,

on During are and certain based assumptions call, on conference management's current disclaimed Form metrics revise regarding this and financial our to otherwise of as in with of to results. of as a expectations, make described now on business. course on in entail and we our statements statements. Further, exhibit statements We've performance various be any we furnished filings. can the noted, basis. Unless or update the of we forward-looking talk over to an and turn website A Relations the website available risks before These made Investor that in views forward-looking anticipated which comparable uncertainties earnings the the is will the that, call, this numbers discuss any subject release, at investors.getweave.com. And reconciliation call SEC today's today's the will I will to are as Brett. with well our SEC earnings obligation metrics we certain GAAP our will today's X-K presentation forward-looking all as non-GAAP our understanding found to be non-GAAP aid believe date, call, about on today

Brett White

the had delivered thrilled your stage performance, of for improving outstanding solid $X.X everyone QX that million growth Revenue year-over-year financial today. financial and our and share of margin of the history, that last start basis half to we provided to and margin Thank consecutive growth and like high May. Gross above compared than another you XX.X% from for range a year. We million, call for QX year, for margin participation end positive adjusted last our significant gross highlights time operating to in gross quarter XX.X% first XXX you, $XX.X second strong line quarter of track was company's the setting XXth XX.X%, and improvement. improvements, an top I'm the EBITDA. our greater record Mark, of in thank reached continuing we quarter, with marking today's representing I'd QX. of to performance the points quarter

basis commitment Additionally, business our ongoing last year. These XXX adjusted efficiency. strong highlight platform our over for margin the payments results points EBITDA our to software by improved demand and continued from and

patient to Our mission practice, experiences interaction. every is enhance for and health care

experience medium-sized tailored created and have practices. a small platform customer software to payments and comprehensive We health care

operations, focus drive solution patient communication while health payment Our practice we and care and to optimize empowers care growth through office manage patient providers enhanced on engagement. processing

care of health For providers. years, unique that providers solutions IT we've lack intuitive over XX and needs teams meet SMB dedicated the like depend Weave. on These often delivered software

with system attracting, of practice's simplifies and integrates platform retaining patients. Our these engaging record and

Our growth and total $X medical, again market, U.S. billion, where largest specialty in our third accelerated in QX. exceeds addressable fastest-growing including rates the market vertical

customer seen our have our to we substantial within In share growth, addition to opportunities of base. new wallet current customer increase

more telephone First, providers platform background using practices base we communication later Payments. efficiency. In into workflow of to revenue of the number. and to Pay Payments be online collections for extensive Manager to the payments are pay to Leos by including conversion reporting pay accepted Text adoption say from improving likely Payments helps broadening workflows, buy choose to for ways payments, newly payments enhancing and created by patients embedding offering. trusted our and to of easy now, collection improving our and makes help flexible Weave processing the and This payments offered our if provider for digital would our analytics optimize our they Weave To consultation practices billing includes processes fintech and team treatment. payment streamline modernizing increase plans, customer which focus offer improve all services. Weave General practice streamlining on cycle we expanding to multi-location it tools XX% and reconciliation position performance. care the health brings of Greg payment within platform QX, collection Weave management, processes welcomed will an and Greg a

our are authorized practice ability operational improve market and which automated boost power addressable efforts sales rates. and adding average customer efficiency, offerings. partner This prices fit. improves personalized to and product have correlation we with market retention and patient Next, strengthening deepening These higher certified engagement and premium Integrations growth. and experience increase to expanding and integrations, communications, our improved customers clear a upsell

profitability. a continue into in often office critical to practice's business we develop hours solutions that the Staffing line including item go a Additionally, operations, On of making XX% assistance. average, practice practice largest unanswered. innovative simplify represents calls staff efficiency effectiveness AI-driven to during and budget,

Our will issue This on address capturing more focus exceptional care. patient delivering only practices also revenue missed helps not staff otherwise efficiently, opportunities. by to AI-driven run solutions but this these frees up

our share locations. significant like we've opening capture delivered year, customers' ezyVet, market to to than made broadening few aim foster we of Finally, new By their by proposition, accomplishments. we expand Year-to-date, drive strides our long-term our XX tools enhance relationships, to continue key XX,XXX our customer loyalty and and integrations, improve and eClinicalWorks, have offerings, and to a larger deeper Shepherd, audience practice boost analytics I'd business. value customers insights in this grow up their budgets. Transitioning we and addressable more the to a our including: growth, and platform highlight marketing help InfiniteVT, and partnerships,

Patterson existing a Payments. In sales with July, locations Dental, allows agreement Forms, with. integrations second management with We the experience to provider team globally. practice that largest also enriched and into Digital customer roughly their sell Patterson Dental like several jointly engages in partnership Weave enabling expanded partners directly XXX,XXX Online with the announced commercial software we This dental Scheduling an products

integration ledger. Deepened Management, the Dolphin Our integrations payment data now in available, have Cloud also management Dolphin and Fuse software exchange complete and Patterson write-backs Blue development. the with with to practice EagleSoft including are most Dolphin

Our continues systems record of and work team partnerships. other commercial to similar on integration leading on

Finally, that in and to showcase for best-in-class health through an marketplace initiative partner recommended launched affiliate care technology we QX, needs. additional solutions This evolving services streams revenue up customers' patient opens experience meet our practices.

operations is hundreds powerful medical a next-generation new partner data platform, with Weve and In technology include and vision, centralized entirely also manage of improves insights the their framework. In we've groups, usability. organizations, June, evaluation enabling to standardize our locations. estate, and enhanced and discovery of rebuilt of addition provides deepened were cycle veterinary to to real modernizes modern offices Enterprise updates. personalization, Enterprise. more service seamlessly. robust streamline auto thrilled sizing screen product multitasking locations enables and dozens capabilities way improvements with solution actionable analytics, to multiple been even which management. next-generation on This trends, platform. across built infrastructure dental Enterprise developing Weave optimize Weave our announce diligently new we delivering provides or Weave and our Key performance experience benchmarking practices is revenue help It and integrations, to to and for designed also scale a This dynamic

our consistently top their ranking AI data a practices. Weave developing has received businesses. We're affirm a extensive our our EBITDA. customers, and being in provide giving of success decade for also I'll to both summer recognized our commitment partners, a support is outlook. Weave train dedication AI, to leveraging results Alan members that providing language XXXX report, big care by I'd competitive workplace. was accolades team. of to call, first a team in industry-leading edge continue of us inclusive positions exceptional software XX needs. be proud to over innovative us voicemail our solutions in strong XX very the accelerated in and This and testament that, year. environments for to start over customers' accomplished our team continuing and categories, models. significant team, along to to and honored in within set, their address and health more the in to a dedicated the for positive you our invest Weave. With Inc.'s financial the the generative thank predictive turn to milestone of to an call reached and Workplaces companies the of the customers' product closing, commitment and patient outstanding work I'm has productivity list proud Best with solutions we We platform creating our with on AI QX, recognized data deliver growth, to relationship named text and cultures. In efficiency leader GX Finally, performance to extend management Weave continued Alan? XXXX the celebrating adjusted detailed for what large shareholders This again for ParityLIST, a review uniquely our was grid our that immensely like line small our a Annual that and industry, top experience

Alan Taylor

afternoon, to for on the performance our Thanks, I'm some quarter. financial Brett. excited everyone. Good provide color additional

addressable beat million quarter the a fastest-growing We've rate increased X.X% despite execute has into in ] year-over-year, customer was in vertical, the selling to the as revenue bundles. vertical, [ that higher-priced the by in is increases quarter reaccelerating past to we been part This new market. Weave's over quarter average of being over X customer in penetrated particularly than a of XX.X% last delivered still $X.X average verification last seen revenue million, the medical location. QX, our contribute steadily years specialty with are revenue beginning growth in to of compared results. of years. we a the we less have the some $XX.X and and driven our total quarter. total the messaging growth Digital in The quarter. Revenue successful have a the resulting it continued exciting are several XX.X% have impressive couple performance additions, of bulk forms, insurance midpoint revenue strong released really range We last past progress or quarters We in to combination products over specialty and to our medical well of growth. second provided meaningfully we performed per from per X% represents beat

quarter. functionality last up products are which our we platform. periodically XX% value upsell improved and to This Our deliver QX, motion retention price customers includes as to additional in net XX% adjustments, some our and of rate made continuously on results the from and revenue

of Some deepened examples include and functionality delivered recently our assistant. transcription, voicemail integration AI AI reviews assistant, we have e-mail

our to revenue revenue gross quarter retention for with results. SMB at landing retention been has the the Weave, XX% last X Our for rate among years. Transitioning XX% consistent retention Logo XX%, held between best-in-class operating every retention. for steady gross and very

to we As a referring saw otherwise. improvement basis stated was point XX.X%. in across-the-board represents XXX year-over-year sequentially. our point reminder, I'll a In be margin QX, results, non-GAAP and increase XXX increase a basis This Gross unless results.

Our next-generation model efficiencies cost the and improvements experience. Sales impact gained costs months, increased ability improvements. with just deliver of change goods costs that market in packaging year-over-year and economies the hardware margin and expenses concurrently continues as by in product our decreases by year, addressable in and incremental to last of marketing sold into half we This driven largely It's also revenue operational at point million the the the revenue and over second efficiencies was core million like in partnerships support delivered the revenue on decrease invested gross in come. and $X.X Based revenue or while came included a last XX expenses platform. throughput fixed second in second of improvement to with over contribute continue XX% adjusted scale percentage increased representing consistent in of solutions, while are of million, We've gained simultaneously worth also expense XX%. key of $X.X expanded have Dental period year. continue usage, $XX.X delivered in of communications our XX% same delivery amortized driven customer medical million last period from the product $X.X X. Phone as with totaled XX% mid-market, yielded strategic Gross as compared in our same on the improvements and of integration our a were our costs number or company our revenue the and administrative quarter, in to model. associated revenue, representing to continue XX margin in strategic to outstanding and representing our improvements. General $X.X basis XX% associated in up to compared the our with will noting Patterson X% have to operating are we reduce support scale, phones years XXXX, as by XX% and of of to an of grow increasing million and quarter, have The grow verticals. Research specialty XXX period customer year. ramped we development compared same costs in as XX% our the on public partnerships team the in Weave revenue with by Enterprise

last the Our operating compared margin margin of of $XXX,XXX improvement loss gave significant loss to we and QX an year. the higher The year, million guidance operating of X.X% was the that corresponding XX% than is X.X% improvement for of top from in loss $X million, a operating last or $X end May.

was share $X.X average last This million a net $X.X quarter outstanding. is represents to year. efficiencies. the acceleration and loss compared This to $XXX,XXX per share or in $X.XX based operating improvement on loss of due $X.XX revenue shares XX.X a second net Our per or weighted million million

in significant improvement the to with We cash ended and investments, million focus of and year-over-year. landing As was a at adjusted reported the X.X% Brett sequentially. positive to the improvement mentioned, over adjusted just million company's $X,XXX, sheet our margin positive $X year an breakeven $XX Achieving above balance flow. the ago. Shifting a EBITDA history, first for time quarter EBITDA $XX cash second in improvement compared is million short-term negative a

$XX.X $XXX,XXX we This from $XX.X second a the cash quarter, QX. in generated new last million reminder, to $X implemented disruption quarter, in Free reversed second last QX billing quarter the year-to-date. in cash operations necessitated some billings resulted deferring in was a system a million into year-to-date. and one-time QX. Cash was quarter that flow which flow As and million flow

third outlook to quarter our Turning for full XXXX. year and the

total million For range and the the in the million. non-GAAP revenue $X.X third $XX.X to quarter of in loss XXXX, million operating million we $XX.X of of expect range $X.X to

are outlook, to of we in XXXX, revenue range year $XXX be and to $XXX full raising the expect million For our total we the million.

year of in $X.X full million. to range loss to our operating XXXX expect be the million non-GAAP We $X.X

demand have our to QX, share the weighted count approximately shares for we've expect results in year. In underscoring We platform. full excellent the million average of summary, XX.X continuing a achieved for

long-term I'll and for optimistic turn committed about We are are opportunities sustained to the through our business future over the that, growth. And our Q&A. to call with strengthening value operator

Operator

[Operator Instructions] The first question is from Parker Lane from Stifel.

J. Lane

if X.X% Brett, wondering motion today coming aligned those I most the the from in traction of you talked penetration how about about particular specialty medical. what around could is talk specialty seeing and you of go-to-market pockets you're was areas? medical

Brett White

Sure. Thanks, Parker.

new is marketing only these those to traction seeing our is go-to-market with general physical therapy, we're our spa, really to focus pretty similar primary X being are So, history. the med And sales practice. areas both and where The plastics, difference past integrations. we're our And and spaces.

run inbound an [ them usual brand those generate into we ] to then leads, outbound with have then marketing to the marketing So, also motions and motion our some have we and cede segments.

J. Lane

retention table then, makes to of sort features that That And rollout the a planning think hands? which the that drive customers' it. do coming to is further terms of potentially sort the by Got momentum new enhanced or what forward? of are And platform, there in you get expansion sense. of you're timeline in would going

Brett White

Sure.

is Weave almost new built focused almost developed on experience, multi-locations. products; we -- that Enterprise, So, really well, on product product primarily, platform and new exclusively call we entirely an are the a which X Weave

X offers to through locations customers X those And multiple through manage login. the application, so product ability that

very also very, They up be also can will use application They real that much as the helpful. they or little can like. as take screen multitask. estate to their So on

multi-location, our product that way all customers We haven't have now that of opportunity a So, we tool do. X/X really we big meets in a we but to really dedicated needs the their is great, multi-location move really opportunity, product, dedicated already the and about in now have or had into that sales.

sharing are product. with release, So, we this this

and currently product on this demoing of multi-location multi-location interest with excitement getting side. are opportunity a quite We the and opportunities, it's bit

is, excited of iPhone X we're like will the of think -- -- size And ability to enabled features limited On -- the really about side the I is also new really, the kind experience new to the there we've be SMB the change version size. second and our app. big Weave the the to of change configuration was the new of dynamically Historically, app an app. that

up or you it, pick that screen, And whole it views. functionality so types retain you can different you your can can have expand have of

So app delete app some like on a was got the you all auto and update just it's helpful. Also, it And download historically replace. and customers having modern auto the versus a to the that guarantee running very same of that and be are the the features, of certainly should side, that support app. couldn't so version go updates because source challenges,

So helpful. should that be very

about have I But and Weave they the app think toggle can forth. They customers can and one. the now. new using use think X,XXX want. app they They I on if got about SMB X,XXX use it we've back the we currently legacy

historically thing SMB, the the you actually app do. friendly new you can we very other them can browser couldn't for run is, app. The download products Chrome, both the interesting They're just about and/or which on

helps. that hopefully, So,

Operator

is The Sklar next from from question Alex Raymond James.

Alexander Sklar

just and base frame you've year, of on not all terms announced but one your over installed in just past size like the your elite can have of or to the back-to-base of your that integrated then work try the customers all plan? some given that's integration of motion they with these And Brett that, upsell the today work as last Alan, you've several added Great. plans, those in now you of does bundles, years. look one the to what you access done

Alan Taylor

our now non-integrated I'll product. customers So, start. a on of about Alex, XX% are

continue that, so, it opens that penetrate up. into integrations, to we and And given these

so of what In pop integration reminders now the we read can for them clear deep we write-back And to with that and integrations, as that upsell the Give obviously, be including then enough some is from team Obviously, go can cases, depending done. just the take as describe soon through that the integration. feature, on a call, appointment capability integration. level we call payments. accomplished, can the have

motion process is integrations, the dig that through one to fairly the really new upsell and So, there. becomes compelling that in given upsell our team

Brett White

would Yes. we've I new of lot spent time in integrations, to add, Alex, that addition deepening a integration.

a So, because may an deepened integrations, bundles them customer become add better other work we as package. Weave they as then a we deepen integration. just more base other upsells, interesting just be on to But higher-end much

an So a event, point. And be is we're of when now found that'd we then activity. that lot thing the with XYZ integrates a put and one we One lot a says, and in interest point we PMS, of second events. is, up banner get

not the really them. compelling it's an in taking it because trigger more prospects Weave it integration, makes opportunity but is pulled who have for haven't interested that yet a upsell, So, much are the but we didn't

Alexander Sklar

new too. Okay. logo on Great color that piece

of more in right? that the the Is the than And it is are of XX%, than more like integration opportunity, the XX%. just sounds on upsell. this products But terms upsell are but that customers integrated so, not probably like

Brett White

right. That's

Alexander Sklar

top Parker's following specialty And is larger got just on want that into up question, relative over just formal is tracked lead top you've other funnel successes the been And in talked to kind last than of How more overall a where growth, kind incremental gen kind about. expansion kind first and XX% but now, top-of--funnel follow-up, the of TAM ones to you have line year? your Okay. the medical biggest as growth? lead-gen your ask, that of terms of then, of I of

Brett White

base, medical. just of I of sheer on would months We've on our percentage our exception be in gen now is source in generating numbers, the the closed. But largest growth X last number relative much grow. Medical kind largest say of to part part largest new distributed our to stronger just Dental of of number largest performance customers our with install new leads of fairly on well over and of leads, versus definitely the our the kind lead continues to over of core the gen lead continues leads So, install -- of largest. -- we're verticals. X base strong That's a base, perspective. got

Operator

next from Brent The is question Bracelin Piper Sandler. from

Brent Bracelin

start here it the increase to years. million in want demand like with I strength over sequentially. What well and looks What's was most it drove Subscription up Brett, X quarter. trends revenue, was sequentially, over this guess, payment here the upside Again, $X pronounced the just I driving the here? quarter? in the

Brett White

Sure.

doing was a sales We've quite well. So quarter. it fronts. on multiple building momentum. had on been Sales our good We is

I quarters this closed in the was we I -- think more new certainly or quarters. previous sales think it quarter, than of couple previous

adjustments net nice customers, do So growing, acquisition in had cohorts, rate. mentioned quarter, well. our for kind them we So, product good would cetera. price the has a adjustments et had did regularly payments this of else? We take Anything new of I expansion over years, that's we and payments several price bit some pretty that been then last quarter but growth. certain have And a news. Alan did We say, we this types, customer

Alan Taylor

the I key think yes. are those elements,

Brent Bracelin

there. color Helpful

Just we a getting about environment, think certainly the [Indiscernible] business, particularly not against macro the as better. any

got it's for lot So execution internal, wanted into of it to that's Dental stuff and a like changes. does Patterson what I it the is double-click you. relationship sound working

do? build Is better and You've seems to there's What something that does understand relationship a trying just into a this that strategic new force relationship means what that had It there. team? tapping it sales like business means sort be details of incremental Any on would opportunity the you things to year? start ACV Could might new the into see that what net additional to helpful. next and blossom earlier?

Brett White

Sure.

of the I gone front super, me the talk the that partnerships of to about about on stand and not we for excited. things ago it. and traction partnership side. up Historically we're the just last win-win Weave friendly, So, really get kind about And decided team Every has out we the establish PMS really, couple quarter, would excited getting quarters, been I channel are been partnerships partnerships. And definitely that in in we and establish our our with to really but providers. year of way I has a haven't an say, additional partner approach of not change we the wanted

Dentrix XXX,XXX deal we And a to PMS then and channels, guy, and Fuse And so and and hashed year all about we interested out down Ascend cloud started a has end They're with that how win-win. we Patterson They Dentrix of hired sat December terrific. -- clever closed with market were this we about and figure these really really going together. And in solution. talked opportunities customers. Weave/Fuse. we on they're the just We're out of together. a bundle working Patterson, providers locations new very could deal head last we to a in win is and and their calling it's selling. enterprise we with have They Weave-Fuse how

with Weave us. bundle. And sharing with they're us. sharing they're now also, into that Patterson calling So leads They're opportunities with the

of We've June a we deals salespeople. We've today. and got got kickoff excited sent already is are X signed. June, national really kind So added on team really getting leads to equals to Patterson traction, sales ARR their sent actually X Their trained We're about salespeople from it already And the for over. in customers. together their because it. getting X far as selling just as collaborating plus Weave

start, with So it's a we forward. practice providers and off hope to more to like management partnerships have positive this software going

Brent Bracelin

sounds company. Well, is like that channel for to the blossom partner starting Great. really it

So see. to great

Operator

from Schappel The next from question Mark Markets. Capital is Loop

Mark Schappel

sales and the now leadership, leadership guide. comes could and Brett, changes brought was I upside changes there meaningful that when helping on on sales typically often you board, be team. any wondering if on quarters such since board update drive think that or on a job recently means an us to changes the I have quarter could been sales to the give the new of just sales here? it's couple been Nice you whether

Brett White

being very learned, business who We're people, I can would bringing then how a a thoughtful the person. to do unique experiences David is a bear so his that works. this on say, Spent getting and the to are McNeil, better. very changes lot we lessons time he's the his of how -- animal, know and joined,

So have have I been changes occurred say small. that the would

incremental making observations, tweaks, So, better, X% if We're do very little And X% strong here bit month, very making approach. making small, over thoughtful he's changes, a adds just you time. believers improvements. a a taken that up just it to

motions small there, very that we our One had haven't -- of been a business sell. Historically the is specific he's with just market, up we involved and have really very to getting running. and market middle great, a historically, group middle multi-location product

structure, team. working ideating model on leadership, time that developing what's that of lot right for with the a spent he sales So,

that support a that have provided and of well I segment, lot really They're positioned so cranking we're to that inbound And to well away. works a now grow there. we actually for He's product the leadership. outbound really, think

just providing say, would leadership, changes. dramatic but thoughts, improvement, I opportunities and big for no ideas, of overall, incremental So, kind

Mark Schappel

last big Great. a part front returning report to year, the then of Boomerang And secondly, Weave platform, customers And quarter. that were if the I this Weave to there's was story. on wondering anything

Brett White

I we number bit same it But was that continues the -- still occurs. mean, more. same the a little because it at the stopped reporting plus continue phenomenon Yes, rate. basically it quantities

everything for a can will competitor integration, "Hey, the -- we functionality, come don't they solution. they'll then and Weave have call just great." there say, month." in, the Weave the back a do right they can We $XXX because go And and quit And and find that customer less have do they quality they says, depth sounds the they of out the "That of

So that continuing. phenomenon is

Operator

Radke from from Tyler The Citi. next is question

Kylie Towbin

the the is And what Tyler. visibility And changing macro Kylie to full I'd second gives better the this Congrats on you [Indiscernible]. quarter. you into Hi, hear on start off I on with, the any love guess quarter? the I'll to last half? than more comments relative for raised year

Alan Taylor

on to that that noticing. the Kylie, were we our and business. seriously guides an thanks able We consecutive being for Yes. have guidance providing is exceed quarters aspect of important XX and of we It around. meet conviction high take a

So performance be executing it's continues the incrementally well. indicative The to good. been that the mentioned. It business has sales better, as of Brett fact just is

in and we're to so, able with And through so confidence. being that confident high roll do

small trends, they businesses. I veterinarians, think of same going medical typical businesses On there. -- the second macro very anywhere business at reliable they're of to to stable that optometrists, are and industries, that the being is They not regarding as things out the unique rate thing out one a our near But the are SMBs. subject are dentists,

a still others. see the to aren't need we need to as macro take just the our macro We dogs from we vet. so impacted to our our see by And to many still dentists, things doctor. largely trends overall, need And as perspective, those

Weave the that kind that's And the really of and kind strength it's that through about good of news appreciate the And just disrupt doesn't the understand I fully or any may customers so, of is for resiliency other economy. trends things segments of of macro market the one us. really think their

Kylie Towbin

Understood. That's helpful.

have the rates any hear to to have guys on love on Intelligence overall attach compares margin you any you released, the feedback the about anticipate? product Call business you that that I'd you've and had Next, how and comments

Alan Taylor

Call just these texts, we that promise. in they and XX products, as about -- more respect has as years continue to of listen a our the the associated Intelligence sure e-mails to Intelligence great to with we better, some of all with roll business. meeting are So, have historical we data else customers. calls, Brett mentioned, than these the and And needs customers Call making has out been anybody

that And we so calls. that the we're around the building when what call train to are is what in, AI out their patterns these models us are, emotion coming show allow calls these so can customers

to early, we're we important how phone going and interacting on. very every desk out. time, really, of in that. so, opportunity where excited about they and for still can that fundamentally, is it's improve how we And aspect a this comes understand our to is that how a patients And revenue continue become go. It's will that's capitalized customers about front really roll sure over making relatively via believe, that actually call come their their And with to

Operator

Mike Bank is of from Funk The from next America. question

Unknown Analyst

on to quarter specifically, the Matt any color This specialty specialty Medical? on did reacceleration it for during verticals? is the of the love in just medical. more or verticals reaccelerate was about revenue And hear other Would Great Mike. some other additional some

Alan Taylor

new the is the reacceleration, the The board. respect Specialty integrations as given of uptake. fastest we've to those, done medical that with as well the that the verticals, across in just space is

So, pleased we're reacceleration of board. the to revenue kind see the across

Unknown Analyst

on the follow-up And Enterprise. Anything should know And of learning nuances early it. the and terms in just terms Weave we anything plan? then quick launch? of Got in then just reception on the one early since go-to-market the

Brett White

of SMB. location than the are Not Sales mid-market much insights longer -- single launch. lot for a the cycles whole since for are

it. we are demoing So

This are to mode. is interest the continues capability, functionality, Well, The demo full -- opportunities build. interest. in pipeline product in the pointing the they of that and leaders, our middle kind practice that multitasking it show is sincere is product they we the we're the primary Now at market only high. express we're When product.

So continue now deals. build the pipeline close to just to and those we need

the question? Sorry, what second was part the of

Unknown Analyst

between the you go-to-markets, the address. nuances just which Oh,

Brett White

different go. a Yes. so that's cycle. type a totally Yes, different It's sales sales there -- team. Yes, of you it's

Operator

from next The Henry from Sachs. is question Goldman Dane

Henry Dane

great Congrats on the quarter. quarter, great another

XX%. another On between just future? could where inflection NRR, quarter inflection and the attrition break you go sell that me. of investors down upsell/cross to where Can for from coming see metric that and one Just in is just

Alan Taylor

XXX% our a quarters. across past you. XXX% as above we think it the thank them high out get as kind way, but certainly break want to payments, again. Henry, upsells. We've are in seen things quantitative are don't We driving our NRR We that it of includes the board. Yes. But in that includes

for insurance and we're substantial that like As a are messaging of the and streams bulk become we verification revenue part upsell. have growing seeing that and mentioned, we available products forms

the So sure, element upsell. we that. on, continue of They Intelligence is will that coming in we're -- ones. And areas a driving see those those we are to the are that nice We new become, works the Call there. are and things develop

a to is see, inflection it great continue. nice So, intend It's for to point. and it we

Operator

I questions this White time. over for at There Brett closing turn back no floor further would to like the to comments. are

Brett White

for Okay. improved progress coming call, our our the and we've both for the you you to thank shareholders to joining all excited made and quarters. Well, outcomes to that build the customers deliver continue thank Weave again you. much Thank very over so team. to on I'm

Operator

This teleconference. concludes today's

this your disconnect time. at your for you lines participation. may Thank You

Weave Communications (WEAV) 31 Jul 242024 Q2 Earnings call transcript