Weave Communications, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (49,738)	$ (51,690)	$ (40,421)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	12,964	12,140	9,425
Amortization of operating right-of-use assets	3,681	0	0
Provision for losses on accounts receivable	729	355	287
Amortization of deferred contract costs	11,120	9,410	6,862
Loss on disposal of assets	4	0	0
Stock-based compensation	18,752	14,091	11,613
Net accretion of discounts on short-term investments	(413)	0	0
Changes in operating assets and liabilities:
Accounts receivable	(966)	(870)	(567)
Deferred contract costs	(12,343)	(12,828)	(9,670)
Prepaid expenses and other assets	(93)	(4,073)	(727)
Accounts payable	(330)	583	302
Accrued liabilities	1,786	1,564	792
Operating lease liabilities	(2,534)
Deferred revenue	4,615	6,627	6,738
Deferred rent		4,318	(152)
Net cash used in operating activities	(12,766)	(20,373)	(15,518)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of short-term investments	(50,915)	0	0
Proceeds from sale of assets	16	0	0
Purchases of property and equipment	(1,895)	(7,376)	(2,759)
Capitalized internal-use software costs	(1,232)	(2,433)	(1,100)
Net cash used in investing activities	(54,026)	(9,809)	(3,859)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from advance on line of credit	0	6,000	0
Principal payments on finance leases	(8,709)	(7,860)	(6,001)
Proceeds from stock option exercises	1,315	4,166	851
Proceeds from initial public offering, net of underwriting discounts	0	111,600	0
Paid offering costs	(671)	(3,426)	0
Proceeds from the employee stock purchase plan	858	0	0
Net cash provided by (used in) financing activities	(7,207)	110,480	(5,150)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(73,999)	80,298	(24,527)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	135,996	55,698	80,225
CASH AND CASH EQUIVALENTS, END OF PERIOD	61,997	135,996	55,698
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for interest	1,441	1,184	1,078
Cash paid during the period for income taxes	104	0	0
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Equipment purchases financed with accounts payable	13	78	130
Finance lease liabilities arising from obtaining finance lease right-of-use assets	6,655
Finance lease liabilities arising from obtaining finance lease right-of-use assets		8,461	8,733
Operating lease liabilities arising from obtaining operating lease right-of-use assets	309
Accrued unpaid offering costs	0	400	0
Unrealized gain on short-term investments	$ 12	$ 0	$ 0