Weave Communications Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
WEAV$7.40+0.1%Stored close · as of Oct 23, 2026
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net loss | $(7,203) | $(7,859) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities | ||
| Depreciation and amortization | 3,045 | 3,045 |
| Amortization of operating right-of-use assets | 972 | 938 |
| Provision for losses on accounts receivable | 250 | 422 |
| Amortization of deferred contract costs | 3,292 | 2,976 |
| Loss on disposal of assets | 1 | 3 |
| Stock-based compensation | 6,772 | 4,513 |
| Net accretion of discounts on short-term investments | (637) | (687) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (15,757) | (177) |
| Deferred contract costs | (4,087) | (3,212) |
| Prepaid expenses and other assets | (555) | 534 |
| Accounts payable | (1,017) | 355 |
| Accrued liabilities | (4,554) | 1,162 |
| Operating lease liabilities | (977) | (900) |
| Deferred revenue | 754 | 428 |
| Net cash provided by (used in) operating activities | (19,701) | 1,541 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Maturities of short-term investments | 23,770 | 13,000 |
| Purchases of short-term investments | (16,821) | (17,485) |
| Purchases of property and equipment | (513) | (620) |
| Capitalized internal-use software costs | (305) | (334) |
| Net cash provided by (used in) investing activities | 6,131 | (5,439) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Principal payments on finance leases | (1,787) | (1,960) |
| Proceeds from stock option exercises | 291 | 73 |
| Payments for taxes related to net share settlement of equity awards | (6,101) | (753) |
| Proceeds from the employee stock purchase plan | 1,020 | 622 |
| Net cash used in financing activities | (6,577) | (2,018) |
| NET DECREASE IN CASH AND CASH EQUIVALENTS | (20,147) | (5,916) |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 50,756 | 61,997 |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | $30,609 | $56,081 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Cash paid during the period for interest | $319 | $472 |
| Cash paid during the period for income taxes | $14 | $20 |
| SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
| Finance lease liabilities arising from obtaining finance lease right-of-use assets | $1,871 | $1,928 |
| Operating lease liabilities arising from obtaining operating lease right-of-use assets | $149 | $154 |
| Unrealized loss on short-term investments | $(62) | $18 |
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