Weave Communications, Inc. (NYSE:WEAV) Q4 2022 Earnings Conference Call February 22, 2023 5:00 PM ET

Company Participants

Mark McReynolds - Head, Investor Relations

Brett White - Chief Executive Officer

Alan Taylor - Chief Financial Officer

Conference Call Participants

Alex Sklar - Raymond James

Matthew Kikkert - Stifel

Matt Stotler - William Blair

Mark Schappel - Loop Capital Markets

Jacob Staffel - Goldman Sachs

Hannah Rudoff - Piper Sandler

Operator

Greetings and welcome to the Weave Communications Fourth Quarter and Full Year 2022 Earnings Conference Call. [Operator Instructions] And as a reminder, this conference is being recorded. It is now my pleasure to introduce to you Mark McReynolds, Head of Investor Relations. Thank you, Mark. You may begin.

Mark McReynolds

Thank you, John. Good afternoon and thanks for joining us for our fourth quarter and full year 2022 earnings conference call. Joining the call today are Brett White, CEO and Alan Taylor, CFO. Brett will open the call with an overview of Weave’s performance and strategy and Alan will discuss our financial results in more detail. After the prepared remarks, we will take questions.

Today’s discussion contains forward-looking statements that represent our beliefs or expectations about future events. All forward-looking statements involve risks and uncertainties that could cause the actual results to differ materially from the forward-looking financial statements. Please refer to the cautionary language in the earnings release and in Weave’s filings with the Securities and Exchange Commission, including our most recent Form 10-K and 10-Q for additional information concerning factors that could cause actual results to differ materially from the forward-looking statements. We will also discuss financial measures that do not conform with Generally Accepted Accounting Principles. For the sake of clarity, unless otherwise noted, all numbers we talk about today will be on a non-GAAP basis. Information maybe calculated differently than similar non-GAAP data presented by other companies. A reconciliation between these GAAP and non-GAAP financial measures is included in our earnings press release, which can be found on our Investor Relations website at investors.getweave.com.

And with that, I will turn the call over to Brett.

Brett White

Thank you, Mark. Good afternoon and thank all of you for joining us today. I will start my remarks with a review of our results for the year before providing a broader company update. I am pleased with our fourth quarter performance and how we closed out the year. We generated revenue of $142.1 million in 2022, a 23% year-over-year increase and above the high-end of the initial guidance that we gave at the beginning of the year and also above the high-end of last quarter’s guidance.