Annual report [Section 13 and 15(d), not S-K Item 405]

Segment Reporting

v3.25.0.1
Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company has one reportable segment: Weave platform. The Weave platform segment provides communications and payments services to customers under software-as-a-service arrangements. The Company derives revenue exclusively in North America and manages the business activities on a consolidated basis. The technology used in the customer arrangements is based on a single software platform that is deployed to and implemented by customers in a similar manner.
The Company’s CEO, who is also the CODM, reviews operating results using consolidated net loss as the measure of segment profitability. The CODM considers budget-to-actual variances on a monthly basis for this profit measure when making decisions about allocating capital and personnel. Significant expense categories regularly provided to the CODM are the consolidated functional expense categories reported in the Company’s statements of operations. Consolidated net income (loss) and functional expenses are not presented here as their presentation would be duplicative of the consolidated statements of operations. Asset information is not presented here because it is not a significant measure utilized by the CODM, and its presentation here would be duplicative of the consolidated balance sheets.
The following table presents information about reported segment revenue, significant segment expenses, and segment net loss for the years ended December 31, 2024, 2023, and 2022 (in thousands):
Year Ended December 31,
2024 2023 2022
Revenue 204,314  170,468  142,117 
Costs and Expenses:
Direct costs of goods sold 34,479  31,323  30,765 
Payroll and employee-related costs 151,456  130,865  120,299 
Marketing costs 15,888  11,243  7,960 
Partner costs 4,134  3,365  3,451 
Professional fees 5,269  4,812  5,919 
Facilities costs 8,176  8,068  8,400 
Software costs 11,756  10,651  9,755 
Capitalized software deferred costs (2,328) (1,903) (1,232)
Other segment items1
3,830  3,075  6,538 
Net loss (28,346) (31,031) (49,738)
¹ Other segment items include interest income and expense, other income, income taxes, property tax, bad debt expense, business insurance, and travel-related expenses.