Weave Communications Inc
For the period ended Dec 31, 2023. Filed Mar 13, 2024.
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FY2023 · Filed Mar 13, 2024
WEAV$7.40+0.1%Stored close · as of Oct 23, 2026
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Item 8. Consolidated statements of cash flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net loss | $(31,031) | $(49,738) | $(51,690) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities | |||
| Depreciation and amortization | 12,001 | 12,964 | 12,140 |
| Amortization of operating right-of-use assets | 3,831 | 3,681 | — |
| Provision for losses on accounts receivable | 1,164 | 729 | 355 |
| Amortization of deferred contract costs | 12,171 | 11,120 | 9,410 |
| Loss on disposal of assets | 16 | 4 | — |
| Stock-based compensation | 22,823 | 18,752 | 14,091 |
| Net accretion of discounts on short-term investments | (2,668) | (413) | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (1,379) | (966) | (870) |
| Deferred contract costs | (13,313) | (12,343) | (12,828) |
| Prepaid expenses and other assets | (680) | (93) | (4,073) |
| Accounts payable | 1,323 | (330) | 583 |
| Accrued liabilities | 4,855 | 1,786 | 1,564 |
| Operating lease liabilities | (3,714) | (2,534) | — |
| Deferred revenue | 4,822 | 4,615 | 6,627 |
| Deferred rent | — | — | 4,318 |
| Net cash provided by (used in) operating activities | 10,221 | (12,766) | (20,373) |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Maturities of short-term investments | 62,150 | — | — |
| Purchases of short-term investments | (66,199) | (50,915) | — |
| Proceeds from sale of assets | — | 16 | — |
| Purchases of property and equipment | (1,691) | (1,895) | (7,376) |
| Capitalized internal-use software costs | (1,999) | (1,232) | (2,433) |
| Net cash used in investing activities | (7,739) | (54,026) | (9,809) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from advance on line of credit | — | — | 6,000 |
| Principal payments on line of credit | (10,000) | — | — |
| Principal payments on finance leases | (7,530) | (8,709) | (7,860) |
| Proceeds from stock option exercises | 12,866 | 1,315 | 4,166 |
| Payments for taxes related to net share settlement of equity awards | (10,388) | — | — |
| Proceeds from initial public offering, net of underwriting discounts | — | — | 111,600 |
| Paid offering costs | — | (671) | (3,426) |
| Proceeds from the employee stock purchase plan | 1,329 | 858 | — |
| Net cash provided by (used in) financing activities | (13,723) | (7,207) | 110,480 |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (11,241) | (73,999) | 80,298 |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 61,997 | 135,996 | 55,698 |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | $50,756 | $61,997 | $135,996 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||
| Cash paid during the period for interest | $1,923 | $1,441 | $1,184 |
| Cash paid during the period for income taxes | $260 | $104 | $— |
| SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | |||
| Equipment purchases financed with accounts payable | $52 | $13 | $78 |
| Finance lease liabilities arising from obtaining finance lease right-of-use assets | $7,183 | $6,655 | $8,461 |
| Operating lease liabilities arising from obtaining operating lease right-of-use assets | $154 | $309 | $— |
| Accrued unpaid offering costs | $— | $— | $400 |
| Unrealized gain (loss) on short-term investments | $31 | $12 | $— |
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