Weave Communications, Inc.

Greetings and welcome to WEAVE's first quarter 2026 financial results and conference call. At this time, all participants are on a listen-only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. If you would like to ask a question, please press star 1 on your telephone keypad. To withdraw your question, press star 1 again. I would now like to turn the conference over to your host, Mariah Shilton, Investor Relations. Thank you. You may begin.

Thank you, Cara. Good afternoon, everyone, and welcome to Weave's first quarter 2026 earnings call. With me on today's call are Brett White, CEO, and Jason Christensen, CFO. During the course of this conference call, we will make forward-looking statements regarding the anticipated performance of our business. These forward-looking statements are based on management's current views and expectations, entail certain assumptions made as of today's date, and are subject to various risks and uncertainties described in our SEC filings. Weave disclaims any obligation to update or revise any forward-looking statements. Further, on today's call, we will also discuss certain non-GAAP metrics that we believe aid in the understanding of our financial results. Unless otherwise noted, all numbers we talk about today will be on a non-GAAP basis, which excludes acquisition-related costs, costs related to certain shareholder matters, amortization of acquired intangible assets, and stock-based compensation. A reconciliation to comparable gap metrics can be found in today's earnings release, which is available on our investor relations website, and as an exhibit to the Form 8K furnished with the SEC before this call, as well as the earnings presentation on our investor relations website. And with that, I will now turn the call over to Brett.

Thank you, Mariah, and thank you to everyone joining us today. I'm very pleased to share that we've delivered another excellent quarter marked by acceleration in revenue growth and further expansion in operating margin. Both revenue and profitability came in above the high end of our guidance. This marks our 17th consecutive quarter of meeting or exceeding the high end of our revenue guidance. Revenue growth accelerated to 17.4% year-over-year, and operating income was $2.5 million, a significant improvement from break-even last year. This continues our track record of strong execution, consistent growth, expanding margins, and disciplined operations. We are well-positioned for long-term success with a growing customer base and an expanding market opportunity. We see a clear path to building a significantly larger business with our growing suite of solutions by expanding market share and increasing average revenue per location. We added the most locations ever in a quarter and revenue retention improved in Q1. We saw strong performance in our upsell sales motion with new products like insurance eligibility and AI receptionist. Additionally, payments revenue growth accelerated in Q1 as our customers increasingly used Weave for their payment processing. Weave is purpose-built for healthcare. We serve over 40,000 customer locations and billions of patient interactions flow through our platform. That data combined with nearly two decades of experience underpins a platform that supports growth and executes that work end to end. Weave's workflows begin with pre-care operations focused on acquiring new patients, re-engaging existing patients for follow-up care, and keeping schedules full. Once a visit is scheduled, we automate administrative tasks like confirming appointments, collecting patient information through digital forms, and verifying insurance eligibility to ensure appointments are kept and streamline patient intake. During the clinical visit, we handle payment processing and help staff address patient financing needs that improve treatment plan acceptance. Following treatment, our platform helps manage the practice's online reputation through reviews and manages accounts receivable by following up on unpaid bills and enabling patients to make payments from their mobile device. Throughout the patient journey, Weave manages communication and engagement behind the scenes, reducing time spent on repetitive tasks and empowering staff to focus on the personal side of patient care. Healthcare practices are resilient businesses, but they face significant operational pressures, higher cost of goods, rising labor expense alongside talent shortages, and elevated patient expectations. The day-to-day demands of running a practice often pull skilled staff away from face-to-face patient care. Weave harnesses the power of AI to automate repetitive tasks. Rather than managing paperwork, practice teams focus on people work. Our deep understanding of healthcare workflows guides how we deliver and use AI through our platform. Our customers start with a Weave core solution that typically includes communications, reviews, appointment reminders, and patient recall to fill schedule openings and ensure schedules stay full. Customers pay for these solutions through standard bundles, and we have released several AI-powered enhancements that streamline practice operations and make these bundles more valuable. More than 50% of our customer locations use at least one of these embedded AI solutions, such as Intelligent Reviews Response and Always-On Messaging Assistant. Additionally, we have developed AI-powered products that we sell as add-ons to their chosen bundles. These products include call intelligence, insurance eligibility, and our AI receptionist. Weave Call Intelligence is an AI analytics product that transcribes every call and creates a task list for office staff to follow up on. It highlights missed revenue opportunities and unhappy patients. A physician owner of a primary care practice in New Jersey implemented Call Intelligence as a coaching tool for his front desk team. Rather than operating without clear visibility or manually reviewing every call, They use AI-generated summaries and transcripts to pinpoint the exact moment patient sentiment shifts, dramatically reducing the time required to identify training gaps and freeing them up to provide more one-on-one coaching. After implementing Weave Call Intelligence and updated training, their unhappy call rate dropped by over 40% in just two months. A multi-location med spa in Philadelphia describes a similar transformation. Every Wednesday, using call intelligence, they review the flagged unhappy calls and follow up with a personal note. They report 100% client retention rate among those follow-ups. They shared that they wouldn't have known who needed outreach without it. Our solutions provide these practices with protection from otherwise invisible and preventable revenue leakage. Our customers are increasingly reliant on our AI functionality. In Q1, our platform handled over 300% more AI interactions than Q1 last year. The growth is being driven by both expanded AI features and products and increased customer adoption. Today, our text-based AI receptions directly handles appointment scheduling and answers common questions such as office hours and accepted insurance providers. Our customers have highlighted a number of ways the AI receptionist has increased the production of their dental practice. One is by reducing no-shows and appointment cancellations. Another is effectively converting leads to new patients. A dental practice recently reported that, using our AI receptionist, they saw new patient volume grow 37%. This had a meaningful impact on the business's financial profile as their new patients spend three times as much per visit than existing patients. Next week, we will release our Omnichannel AI receptionist to customers on select integrations, which will significantly increase these capabilities by supporting both voice and text modalities. We anticipate that the agent will be more broadly available late this quarter. Weave delivers seamless task execution, transcription, and summarization, and preserves context through a single unified view of conversations and analytics across every bot to human handoff. We are uniquely positioned to deliver this capability. Because we own the full stack, we make the entire experience connected, visible, and actionable. Initially, the agent will be able to effectively manage dozens of workflows, including scheduling, answering common questions, and completing handoffs between AI and humans. We have mapped out hundreds of additional workflows, which will steadily be added to the agent's skill set. It will become a more effective and skilled teammate every week. Customers who are using this latest solution are getting significant value from it, and it is changing the way they operate. One dental office signed on to the pilot because the staff was completely overwhelmed by voicemail and increased call volumes on Mondays. By implementing our AI receptionist, patients got their questions answered more quickly and more appointments were kept. The doctor highlighted, quote, we only get paid when patients come in, so protecting the schedule matters. We have had several instances where patients started to cancel at the last minute, saw the cancellation fee warning from the AI agent, and decided to keep the appointment, end quote. A dental practice in Florida joined the pilot to address missed calls outside of business hours and an overwhelmed front office team during the day. The result is that missed calls have dropped by roughly 80%, with a similar decrease in weekend voicemails. An additional benefit is the improvement in care continuity. Patients dealing with emergencies or last-minute scheduling conflicts can now get help when they need it most. For the front office team, the day simply runs smoother with fewer interruptions, less time managing calls on hold, and a lighter start to the week. These are just two examples, but the early results confirm that providing our customers with an always-on teammate to autonomously fulfill daily tasks will change the way these practices do business. This makes Weave more mission critical than ever by increasing the production and revenue capture of the practice, which provides an additional way to grow our revenue per location by competing for a portion of the labor budget. We plan to monetize the omnichannel AI receptionists through a hybrid subscription model, largely aligned to consumption. Our ability to monetize will grow as practices expand their utilization of this always-on teammate that manages the complete patient lifecycle. In the future, we expect to capture even greater payment processing volumes as we process co-pays by intelligently managing the intake process and collecting outstanding balances. The future of Weave is agentic and proactive, converting leads to booked appointments, filling holes in the schedule with patients on the verge of slipping through the cracks, collecting critical patient data in advance of appointment, recommending financing options to drive higher treatment plan acceptance, garnering online reviews, and collecting on outstanding patient balances. Our current and future success with AI is a result of nearly 20 years of data and deep domain expertise that informs the development of healthcare-specific workflows. Most patient-facing workflows for a practice originate from or terminate through a phone call or a message. Our communication platform gives us a significant advantage as Weave owns and manages this control point and natively executes these workflows through the trusted primary business phone number, which leads to higher patient engagement. These interactions often require data transfers with practice management systems, and we have the largest library of authorized practice management systems integrations available. Weave is the all-in-one partner that practices can use to standardize work and efficiently grow their business. Practices that use Weave are smarter, built to scale, and feel more human. We focus on the day-to-day operations so the rest of the practice team can focus on the people they care for. To close, I want to thank the Weave team for their continued focused execution. Q1 was a great quarter, and our future is bright. I'm very excited about the recent product launches and what we have on the horizon. Our financial results improved while delivering increasing value for our customers. We are well positioned for success in the new AI frontier. We will continue to lean into our strengths and our scale to deliver innovative solutions that help our customers improve their business outcomes. I also want to thank our customers, partners, and shareholders for your continued trust. With that, I'll turn the call over to Jason to walk through the financials in more details.