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In a recent transaction, Joseph David McNeil, the Chief Revenue Officer of Weave Communications , Inc. (NYSE:WEAV), sold a significant portion of his holdings in the company. On March 18, McNeil sold 51,638 shares of common stock at an average price of $11.165 per share, totaling approximately $576,538. This sale was conducted to cover taxes due upon the release and settlement of restricted stock units. The stock, currently trading at $11.64, has shown significant volatility with a beta of 1.97, according to InvestingPro data.
Following this transaction, McNeil retains ownership of 298,362 shares of Weave Communications. The company, based in Lehi, Utah, operates in the prepackaged software services sector and continues to be a key player in its industry, demonstrating strong revenue growth of ~20% in the last twelve months and maintaining a healthy gross profit margin of 71.4%. InvestingPro analysis reveals 7 additional key insights about WEAV’s performance and prospects, available to subscribers.
In other recent news, Weave Communications reported its fourth-quarter earnings, which fell short of analyst expectations. The company posted an adjusted loss of $0.09 per share, missing the consensus estimate of a $0.01 profit. Revenue for the quarter was $54.2 million, slightly exceeding the analyst forecast of $53.23 million and marking an 18.6% year-over-year increase. Looking ahead, Weave Communications expects first-quarter 2025 revenue to be between $54-55 million, aligning with the consensus of $54.737 million. However, the company’s earnings per share guidance for the same period ranges widely from -$0.70 to $0.30, compared to analysts’ $0.01 estimate. For the full year 2025, Weave provided an EPS projection of $2.00-$6.00, which contrasts with the $0.11 consensus, while revenue guidance of $232-237 million is in line with the expected $235.7 million. Despite missing earnings expectations, the company reported a positive free cash flow of $6.1 million for the fourth quarter, up from $2.9 million in the previous year. Additionally, Weave Communications added 3,995 net new customer locations in 2024, bringing the total to 34,997 by year-end.
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