Weave Communications Inc (WEAV) 2024 Q2 法說會逐字稿

Greetings, and welcome to the Weave second-quarter 2024 financial results conference call. (Operator Instructions) As a reminder, this conference is being recorded.

您好，歡迎參加 Weave 2024 年第二季財務業績電話會議。（操作員指示）謹此提醒，本次會議正在錄製中。

It is now my pleasure to introduce your host, Mark McReynolds, Head of Investor Relations. Thank you. You may begin.

現在我很高興向您介紹主持人，投資者關係主管馬克·麥克雷諾茲 (Mark McReynolds)。謝謝。你可以開始了。

Thank you, Sachi. Good afternoon, and welcome to Weave's second-quarter 2024 earnings call. With me on today's call are Brett White, CEO; and Alan Taylor, CFO.

謝謝你，佐知。下午好，歡迎參加 Weave 的 2024 年第二季財報電話會議。與我一起參加今天電話會議的是執行長布雷特懷特 (Brett White)；和財務長艾倫·泰勒。

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. We've disclaimed any obligation to update or revise any forward-looking statements.

在本次電話會議期間，我們將就我們業務的預期業績做出前瞻性陳述。這些前瞻性陳述是基於管理階層目前的觀點和預期，包含截至今天所做的某些假設，並受到我們向 SEC 文件中描述的各種風險和不確定性的影響。我們不承擔更新或修改任何前瞻性陳述的義務。

Further on today's call, we will 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. A reconciliation to comparable GAAP metrics can be found in today's earnings release, which is available on our website and as an exhibit to the Form 8-K furnished with the SEC before this call, as well as the earnings presentation on our investor relations website at investors.getweave.com.

在今天的電話會議上，我們將進一步討論某些非公認會計準則指標，我們認為這些指標有助於理解我們的財務表現。除非另有說明，我們今天討論的所有數字都將基於非公認會計原則。與可比較GAAP 指標的對帳可以在今天的收益報告中找到，該收益報告可以在我們的網站上找到，並作為本次電話會議之前向SEC 提供的8-K 表格的附件，以及我們投資者關係網站上的收益介紹： Investors.getweave.com。

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

現在，我將把電話轉給布雷特。

Thank you, Mark and thank you to everyone for your participation today. I'd like to start today's call with financial highlights from Q2. I'm thrilled to share that we had an outstanding quarter, continuing our track record of improving financial performance, and setting the stage for a strong second half of the year.

謝謝馬克，也謝謝大家今天的參與。我想以第二季的財務亮點開始今天的電話會議。我很高興地告訴大家，我們度過了一個出色的季度，繼續改善財務業績，並為今年下半年的強勁表現奠定了基礎。

We delivered another quarter of solid top line performance, significant gross and operating margin improvements, and for the first time in our company's history, positive adjusted EBITDA.

我們又一個季度實現了穩健的營收業績，毛利率和營業利潤率顯著提高，並且在公司歷史上首次實現正調整 EBITDA。

Revenue for Q2 was $50.6 million, representing 21.4% year-over-year growth compared to 19.2% growth last quarter and $1.4 million above the high end of the range that we provided in May.

第二季營收為 5,060 萬美元，年增 21.4%，而上季成長 19.2%，比我們 5 月份提供的區間上限高出 140 萬美元。

Gross margin reached 71.9%, 400 basis points greater than Q2 of last year, marking our 10th consecutive quarter of gross margin improvement. Additionally, our adjusted EBITDA margin improved by over 700 basis points from last year. These results highlight the continued strong demand for our software and payments platform and our ongoing commitment to business efficiency.

毛利率達到71.9%，比去年第二季增加400個基點，標誌著我們的毛利率連續第十個季度改善。此外，我們調整後的 EBITDA 利潤率較去年提高了 700 多個基點。這些結果凸顯了對我們的軟體和支付平台的持續強勁需求以及我們對業務效率的持續承諾。

Our mission is to enhance healthcare experiences for every practice, patient, and interaction. We have created a comprehensive customer experience software and payments platform tailored to small and medium-sized healthcare practices.

我們的使命是增強每個診所、病患和互動的醫療保健體驗。我們創建了適合中小型醫療保健實踐的綜合客戶體驗軟體和支付平台。

Our solution empowers healthcare providers to focus on patient care, while we optimize office operations, manage payment processing, and drive practice growth through enhanced patient communication and engagement.

我們的解決方案使醫療保健提供者能夠專注於患者護理，同時我們優化辦公室運營、管理支付處理並透過增強患者溝通和參與來推動實踐成長。

For over 15 years, we've delivered solutions that meet the unique needs of SMB healthcare providers. These providers often lack dedicated IT teams and depend on intuitive software like Weave. Our platform integrates with these practice's system of record and simplifies attracting, engaging, and retaining patients.

15 年來，我們提供的解決方案能夠滿足中小企業醫療保健提供者的獨特需求。這些提供者通常缺乏專門的 IT 團隊，並且依賴 Weave 等直覺的軟體。我們的平台與這些診所的記錄系統集成，簡化了吸引、參與和留住患者的過程。

Our total addressable market in the US exceeds $7 billion, including specialty medical, our third largest and fastest-growing vertical market where growth rates accelerated again in Q2. In addition to new customer growth we have seen substantial opportunities to increase our share of wallet within our current customer base.

我們在美國的潛在市場總額超過 70 億美元，其中包括專業醫療，這是我們第三大且成長最快的垂直市場，第二季成長率再次加快。除了新客戶的成長之外，我們還看到了在現有客戶群中增加錢包份額的大量機會。

First, we are enhancing our payments platform by embedding digital collections processes into communication workflows including Text To Pay and online payments, all using the trusted practice telephone number. 65% of patients say they would be more likely to choose a healthcare provider if offered flexible ways to pay for services.

首先，我們透過將數位收款流程嵌入到包括簡訊支付和線上支付在內的通訊工作流程中來增強我們的支付平台，所有這些都使用可信任的執業電話號碼。 65% 的患者表示，如果提供靈活的服務支付方式，他們將更有可能選擇醫療保健提供者。

Weave makes it easy for providers to offer buy now pay later and payment plans which help increase conversion from consultation to accepted treatment. Weave Payments helps practices streamline revenue cycle management, modernizing the payment processing workflow and improve collection efficiency.

Weave 讓提供者可以輕鬆提供「先買後付」和付款計劃，這有助於提高從諮詢到接受治療的轉換。Weave Payments 協助實務簡化收入週期管理、實現支付處理工作流程現代化並提高收款效率。

In Q2, we welcomed Greg Leos to the newly created position of General Manager of Weave Payments. Greg brings an extensive fintech background to our team and will focus on expanding the adoption of Weave Payments within our customer base and broadening our payments offering.

第二季度，我們歡迎 Greg Leos 擔任新設立的 Weave Payments 總經理職位。Greg 為我們的團隊帶來了廣泛的金融科技背景，並將專注於在我們的客戶群中擴大 Weave Payments 的採用並擴大我們的支付產品範圍。

This includes improving our payments platform for multi-location practices by streamlining reconciliation processes and improving analytics and reporting tools to optimize billing and collection performance.

這包括透過簡化對帳流程和改進分析和報告工具來優化計費和收款效能，從而改善我們的多地點實踐支付平台。

Next, we are adding and deepening authorized and certified partner integrations, expanding our addressable market and strengthening product market fit. This improves our customer experience and ability to upsell customers to premium offerings.

接下來，我們將增加和深化授權和認證合作夥伴集成，擴大我們的目標市場並加強產品市場契合度。這改善了我們的客戶體驗和向客戶追加銷售優質產品的能力。

Integration with power automated and personalized communications which increase operational efficiency, improve patient engagement, and boost practice growth. These efforts have a clear correlation with higher average sales prices and improved retention rates.

與自動化和個人化通訊的整合可提高營運效率、提高患者參與度並促進實踐成長。這些努力與更高的平均銷售價格和更高的保留率有著明顯的相關性。

Additionally we continue to develop innovative solutions that simplify office operations including AI-driven assistance. Staffing often represents the largest line item in a practice's budget making staff efficiency and effectiveness critical to practice profitability.

此外，我們繼續開發創新的解決方案來簡化辦公室運營，包括人工智慧驅動的協助。人員配置通常是診所預算中最大的項目，因此員工的效率和有效性對於診所的獲利能力至關重要。

On average 30% of calls into a practice during business hours go unanswered. Our AI-driven solutions will address this issue by capturing these otherwise missed revenue opportunities. This not only helps practices run more efficiently, but also frees up staff to focus on delivering exceptional patient care.

工作時間內平均有 30% 的診所無人接聽。我們的人工智慧驅動解決方案將透過抓住這些否則會錯失的收入機會來解決這個問題。這不僅有助於診所更有效地運行，還可以讓員工騰出時間專注於提供卓越的病患照護。

Finally, we continue to enhance the marketing tools in our platform and improve practice analytics and insights, to help customers expand their audience and grow their business. By broadening our offerings we aim to boost our value proposition, foster deeper customer relationships, drive long-term loyalty and growth and capture a larger share of our customers' budgets.

最後，我們繼續增強平台中的行銷工具並改進實踐分析和洞察，以幫助客戶擴大受眾並發展業務。透過擴大我們的產品範圍，我們的目標是提升我們的價值主張，培養更深層的客戶關係，推動長期忠誠度和成長，並獲得更大的客戶預算份額。

Transitioning to partnerships, we have made significant strides this year. And I'd like to highlight a few key accomplishments. Year-to-date we've delivered 20 new integrations including: eClinicalWorks, ezyVet, InfiniteVT, and Shepherd opening up our addressable market by more than 86,000 locations.

今年，我們在向夥伴關係過渡方面取得了重大進展。我想強調一些關鍵成就。今年迄今為止，我們已經交付了 20 個新的集成，包括：eClinicalWorks、ezyVet、InfiniteVT 和 Shepherd，開拓了超過 86,000 個地點的目標市場。

We also expanded integrations with several existing partners in enabling an enriched customer experience with products like Digital Forms, Online Scheduling and Payments. In July we jointly announced a commercial partnership with Patterson Dental, the second largest dental practice management software provider globally.

我們還擴大了與多個現有合作夥伴的集成，透過數位表格、線上調度和支付等產品提供豐富的客戶體驗。7 月，我們共同宣布與全球第二大牙科診所管理軟體供應商 Patterson Dental 建立商業合作夥伴關係。

This agreement allows Patterson Dental to sell, Weave directly into the roughly 100,000 locations that their sales team engages with. Our integration with Patterson practice management software Fuse and Eaglesoft now have the most complete data exchange available, including payment write-backs to the ledger.

該協議允許 Patterson Dental 直接在其銷售團隊參與的約 100,000 個地點銷售 Weave。我們與 Patterson 實踐管理軟體 Fuse 和 Eaglesoft 的整合現在擁有最完整的資料交換，包括帳本的付款寫回。

Deepened integrations with Dolphin Management, Dolphin Cloud and Dolphin Blue are also in development. Our team continues to work on other leading systems of record, on similar commercial and integration partnerships

與 Dolphin Management、Dolphin Cloud 和 Dolphin Blue 的深化整合也在開發中。我們的團隊繼續致力於其他領先的記錄系統、類似的商業和整合合作夥伴關係

Finally in Q2, we launched an affiliate partner marketplace to showcase best-in-class technology and services for healthcare practices. This initiative opens up additional revenue streams through recommended patient experience solutions that meet our customers' evolving needs.

最後，在第二季度，我們推出了聯盟合作夥伴市場，以展示醫療保健實踐的一流技術和服務。該計劃透過推薦的患者體驗解決方案來滿足客戶不斷變化的需求，開闢了額外的收入來源。

In addition to delivering new and deepened partner integrations, we've been diligently developing our next-generation platform which modernizes our product infrastructure and improves usability.

除了提供新的、更深入的合作夥伴整合之外，我們還一直在努力開發下一代平台，該平台使我們的產品基礎設施現代化並提高可用性。

Key improvements include dynamic sizing to optimize screen real estate, enhanced personalization, multitasking capabilities and auto updates. This rebuilt experience also enables Weave to scale with a more robust and modern technology framework.

主要改進包括動態調整大小以優化螢幕空間、增強的個人化、多任務處理功能和自動更新。這種重建的體驗也使 Weave 能夠透過更強大、更現代的技術框架進行擴展。

In June we were thrilled to announce Weave Enterprise. This new solution for practices with multiple locations is built entirely on our next-generation platform. It is designed to help dental service organizations, vision, veterinary, and medical groups standardize their operations and streamline revenue cycle management.

六月，我們很高興宣布推出 Weave Enterprise。這種針對多個地點的實踐的新解決方案完全基於我們的下一代平台構建。它旨在幫助牙科服務組織、視力、獸醫和醫療團體標準化其營運並簡化收入週期管理。

Weave Enterprise provides a centralized way to manage dozens or even hundreds of offices seamlessly. Weave Enterprise also provides powerful insights and analytics enabling the evaluation of trends, performance benchmarking and discovery of actionable data across locations.

Weave Enterprise 提供了一種集中方式來無縫管理數十個甚至數百個辦公室。Weave Enterprise 還提供強大的洞察和分析，支援跨地點的趨勢評估、效能基準測試和發現可操作的數據。

Finally we continue to invest in both predictive and generative AI, leveraging over a decade of call, text and voicemail data to train our large language models. This extensive data set along with our dedicated AI team uniquely positions us within the industry giving us a competitive edge in developing AI solutions that deliver efficiency and productivity for health care practices.

最後，我們繼續投資預測性人工智慧和生成式人工智慧，利用十多年來的通話、文字和語音郵件資料來訓練我們的大型語言模型。這些廣泛的數據集以及我們專門的人工智慧團隊使我們在行業中處於獨特的地位，使我們在開發人工智慧解決方案方面具有競爭優勢，為醫療保健實踐提供效率和生產力。

Weave has consistently received accolades that affirm our commitment to our customers' experience and the industry-leading performance of our platform and team. Weave was again recognized by G2 in their summer 2024 report, ranking first in 27 categories being named a leader in the grid for patient relationship management and a top 50 software product for small businesses.

Weave 不斷獲得讚譽，證實了我們對客戶體驗的承諾以及我們平台和團隊的行業領先績效。Weave 在 G2 2024 年夏季報告中再次獲得認可，在 27 個類別中排名第一，被評為患者關係管理網格領導者和小型企業軟體產品 50 強。

We're also proud to be recognized for our commitment to creating an outstanding workplace. Weave was honored on Inc.'s Annual Best Workplaces list and the 2024 ParityLIST celebrating companies with exceptional work environments and inclusive cultures.

我們也很自豪能夠因致力於打造卓越工作場所而獲得認可。Weave 榮獲 Inc. 年度最佳工作場所榜單和 2024 年 ParityLIST 榜單，表彰擁有卓越工作環境和包容性文化的公司。

In closing, I'm immensely proud of what the team has accomplished in Q2 continuing the strong start to the year. We accelerated our top line growth reached a very significant milestone of positive adjusted EBITDA. This success is a testament to our dedication to providing innovative solutions that address our customers' needs.

最後，我對團隊在第二季的成就感到非常自豪，延續了今年的強勁開局。我們加速了營收成長，達到了正向調整 EBITDA 的一個非常重要的里程碑。這項成功證明了我們致力於提供滿足客戶需求的創新解決方案。

I'd like to extend a big thank you to our customers, partners, team members and shareholders for their continued support of Weave.

我衷心感謝我們的客戶、合作夥伴、團隊成員和股東對 Weave 的持續支持。

With that, I'll turn the call over to Alan to provide more detailed financial results and review our outlook. Alan?

接下來，我會將電話轉給艾倫，以提供更詳細的財務表現並審查我們的前景。艾倫？

Thanks, Brett. Good afternoon, everyone. I'm excited to provide some additional color on our financial performance for the quarter. We continued to execute in Q2 resulting in a strong quarter of results. We delivered second-quarter revenue of $50.6 million reaccelerating our growth rate to 21.4% year over year, compared to 19.2% last quarter. This represents a $1.9 million beat or a 4% beat over the midpoint of the range we provided last quarter.

謝謝，布雷特。大家下午好。我很高興能為我們本季的財務表現提供一些額外的資訊。我們在第二季度繼續執行，並取得了強勁的季度業績。我們第二季的營收達到 5,060 萬美元，年成長率再次加速至 21.4%，而上季為 19.2%。這比我們上季度提供的範圍中位數高出 190 萬美元，即高出 4%。

Revenue growth in the quarter was driven by a combination of new customer additions particularly in our specialty medical vertical and increases in average revenue per location. The exciting part of the progress with specialty medical is that despite it being our fastest-growing vertical, we are still less than one-half of 1% penetrated into the total addressable market.

本季營收的成長是由新客戶的增加（特別是在我們的專業醫療垂直領域）和每個地點平均收入的成長共同推動的。專業醫療取得的進展中令人興奮的部分是，儘管它是我們成長最快的垂直領域，但我們對整個潛在市場的滲透率仍然不到 1% 的二分之一。

Weave's average revenue per customer has steadily increased over the past three years as we have been successful in selling higher-priced bundles. We've seen some impressive performance from the products we have released in the last couple of years. Digital forms bulk messaging and insurance verification have performed really well over the past several quarters and are beginning to contribute meaningfully to total revenue growth.

由於我們成功銷售了高價捆綁包，Weave 的每位客戶平均收入在過去三年中穩步增長。我們在過去幾年發布的產品中看到了一些令人印象深刻的性能。數位表格大量訊息傳遞和保險驗證在過去幾季中表現非常出色，並開始為總收入成長做出有意義的貢獻。

Our net revenue retention rate improved to 97% in Q2, up from 96% last quarter. This includes the results of our up-sell motion and price adjustments, which are periodically made to some customers and products as we continuously deliver additional value and functionality on our platform.

第二季我們的淨收入保留率從上季的 96% 提高到 97%。這包括我們的追加銷售行動和價格調整的結果，隨著我們不斷在平台上提供額外的價值和功能，這些調整會定期對某些客戶和產品進行。

Some examples of functionality, we have delivered recently include our AI reviews assistant, voicemail transcription, deepened integration and AI e-mail assistant. Our gross revenue retention rate held steady at 92% among the best-in-class for SMB retention. Logo retention has been very consistent for Weave, with gross revenue retention landing between 91% and 94% every quarter for the last four years.

我們最近提供的一些功能範例包括人工智慧評論助理、語音郵件轉錄、深化整合和人工智慧電子郵件助理。我們的總收入保留率穩定在 92%，在中小企業保留率方面名列前茅。Weave 的標誌保留率非常穩定，過去四年每季的總營收保留率都在 91% 到 94% 之間。

Transitioning to our operating results. As a reminder, I'll be referring to non-GAAP results unless stated otherwise. In Q2, we saw across-the-board improvement in our results. Gross margin was 71.9%. This represents a 400-basis-point increase year over year and a 150-basis-point increase sequentially.

過渡到我們的經營業績。提醒一下，除非另有說明，我將指的是非 GAAP 業績。在第二季度，我們看到業績全面改善。毛利率為71.9%。這意味著同比增長 400 個基點，環比增長 150 個基點。

Our cost of goods sold increased by just 6% year over year, while revenue increased by over 21%. Gross margin improvements are driven by economies of scale and the costs associated with our communications solutions decreases in hardware costs and efficiencies gained in our support model.

我們的銷售成本較去年同期僅成長 6%，而營收卻成長了 21% 以上。毛利率的提高是由規模經濟推動的，與我們的通訊解決方案相關的成本降低了硬體成本，並提高了我們的支援模型的效率。

Based on customer usage in the second half of 2021, we adjusted our product packaging to reduce the number of included phones from 10 to 5. Phone costs are amortized over 36 months, and the impact of that change continues to contribute consistent and incremental gross margin improvements. It's also worth noting the efficiencies gained in our support model have concurrently yielded improvements in our ability to deliver an outstanding customer experience.

根據2021年下半年客戶使用情況，我們調整了產品包裝，將內含手機數量從10支減少到5部。電話成本在 36 個月內攤銷，這項變更的影響將繼續促進毛利率的持續和增量提高。另外值得注意的是，我們的支援模型提高了效率，同時也提高了我們提供卓越客戶體驗的能力。

Sales and marketing expenses came in at $20.2 million representing 40% of revenue compared with 39% in the same period last year, as we have expanded our addressable market into specialty medical, and mid-market, invested in strategic partnerships and continue to grow in our core verticals.

銷售和行銷費用為 2020 萬美元，佔收入的 40%，而去年同期為 39%，因為我們已將目標市場擴展到專業醫療和中端市場，投資於戰略合作夥伴關係並繼續在我們的核心垂直領域。

Research and development expense totaled a $7.8 million in the second quarter, representing 15% of revenue compared with $7.3 million or 17% of revenue in the same period last year. This 200-basis-point improvement was largely driven by our operational scale while simultaneously increasing throughput, as the team delivered Weave Enterprise on our next-generation platform. We've also ramped up delivery on integration and strategic partnerships like Patterson Dental and have delivered key product improvements.

第二季研發費用總計 780 萬美元，佔營收的 15%，去年同期為 730 萬美元，佔營收的 17%。這項 200 個基點的改進主要是由我們的營運規模推動的，同時隨著團隊在我們的下一代平台上交付 Weave Enterprise，吞吐量也不斷增加。我們還加強了與 Patterson Dental 等整合和策略合作夥伴關係的交付力度，並交付了關鍵的產品改進。

General and administrative expenses were $9.4 million in the second quarter, representing 19% of revenue compared with $8.8 million or 21% of revenue in the same period last year. The fixed costs associated with operating as a public company will continue to decrease as a percentage of revenue, as we continue to grow in the years to come. Our operating loss for Q2 was $1 million, an improvement of $3 million or 76% compared to last year and $500,000 higher than the top end of the guidance that we gave in May.

第二季一般及管理費用為 940 萬美元，佔營收的 19%，去年同期為 880 萬美元，佔營收的 21%。隨著我們在未來幾年的持續成長，與上市公司營運相關的固定成本佔收入的比例將繼續下降。我們第二季的營運虧損為 100 萬美元，比去年減少了 300 萬美元，即 76%，比我們 5 月給出的指導上限高出 50 萬美元。

The corresponding operating loss margin of 1.9% is a significant improvement from the operating loss margin of 9.5% last year. Our net loss was $300,000 or $0.00 per share in the second quarter based on 71.3 million weighted average shares outstanding. This is compared to a net loss of $3.1 million or $0.05 per share last year. This represents a $2.8 million improvement due to revenue acceleration and operating efficiencies.

相應的經營虧損率為1.9%，較去年9.5%的經營虧損率有顯著改善。根據 7,130 萬股加權平均計算，第二季我們的淨虧損為 30 萬美元，即每股 0.00 美元。相比之下，去年淨虧損為 310 萬美元，即每股虧損 0.05 美元。由於收入加速和營運效率的提高，這意味著 280 萬美元的改進。

As Brett mentioned, adjusted EBITDA was positive for the first time in our company's history, landing just above breakeven at $5,000, a $3 million improvement year over year. Achieving positive adjusted EBITDA is a significant improvement compared to the negative 7.3% margin reported a year ago.

正如 Brett 所提到的，調整後的 EBITDA 在我們公司歷史上首次實現正值，略高於盈虧平衡點，達到 5,000 美元，比去年同期增加 300 萬美元。與一年前 7.3% 的負利潤率相比，實現正調整 EBITDA 是一個顯著的進步。

Shifting focus to the balance sheet and cash flow. We ended the second quarter with $99 million in cash and short-term investments, an improvement of over $16 million sequentially. As a reminder last quarter, we implemented a new billing system that necessitated deferring some Q1 billings into Q2. This resulted in a one-time disruption to cash flow last quarter, which reversed in Q2. Cash flow generated from operations was $22.7 million in the second quarter and $3 million year to date. Free cash flow was $21.2 million in the second quarter and $700,000 year to date.

將重點轉向資產負債表和現金流。截至第二季末，我們的現金和短期投資為 9,900 萬美元，比上一季增加了 1,600 萬美元以上。作為提醒，上個季度，我們實施了新的計費系統，需要將一些第一季的計費推遲到第二季度。這導致上季度現金流出現一次性中斷，這一情況在第二季度出現逆轉。第二季營運產生的現金流為 2,270 萬美元，今年迄今為 300 萬美元。第二季自由現金流為 2,120 萬美元，年初至今為 70 萬美元。

Turning to our outlook for the third quarter and full year 2024. For the third quarter of 2024, we expect total revenue in the range of $50.7 million to $51.7 million and non-GAAP operating loss in the range of $1.2 million to $0.2 million. For the full year 2024, we are raising our outlook and we expect total revenue to be in the range of $201 million to $203 million. We expect our full-year 2024 non-GAAP operating loss to be in the range of $3.8 million to $1.8 million. We expect to have a weighted average share count of approximately 71.7 million shares for the full year.

轉向我們對第三季和 2024 年全年的展望。對於 2024 年第三季度，我們預計總收入在 5,070 萬美元至 5,170 萬美元之間，非 GAAP 營運虧損在 120 萬美元至 20 萬美元之間。對於 2024 年全年，我們正在上調預期，預計總收入將在 2.01 億美元至 2.03 億美元之間。我們預計 2024 年全年非 GAAP 營運虧損將在 380 萬美元至 180 萬美元之間。我們預計全年加權平均股數約為 7,170 萬股。

In summary, we've achieved excellent results in Q2, underscoring the continuing demand for our platform. We are optimistic about our future opportunities and are committed to strengthening our long-term value through sustained business growth.

總而言之，我們在第二季度取得了出色的業績，凸顯了對我們平台的持續需求。我們對未來的機會持樂觀態度，並致力於透過持續的業務成長來增強我們的長期價值。

And with that, I'll turn the call over to the operator for Q&A.

然後，我會將電話轉給接線生進行問答。

(Operator Instructions) Parker Lane, Stifel.

（操作說明）Parker Lane，Stifel。

Hi, guys. Thanks for taking the question. Brett, you talked about 0.5% of penetration coming from specialty medical. I was wondering if you could talk about what pockets of specialty medical you're seeing the most traction in today and how the go-to-market motion is aligned around those particular areas?

嗨，大家好。感謝您提出問題。Brett，您談到 0.5% 的滲透率來自專業醫療。我想知道您是否可以談談您今天看到的哪些專業醫療領域最具吸引力，以及如何圍繞這些特定領域進行市場推廣？

Sure. Thanks, Parker. So where we're seeing the traction is physical therapy, med spa, plastics, general practice. And those are really our four primary focus areas with both sales and marketing and integrations. And our go-to-market is pretty similar to our past history. The only difference being we're new to these spaces. So we have to cede them with some brand marketing and then run our usual marketing motions to generate the inbound leads and then we also have an outbound motion into those segments.

當然。謝謝，帕克。因此，我們看到的牽引力是物理治療、醫療水療、整形、全科治療。這些確實是我們銷售、行銷和整合的四個主要重點領域。我們的市場進入與我們過去的歷史非常相似。唯一的差別是我們對這些空間還不熟悉。因此，我們必須透過一些品牌行銷讓出他們，然後運行我們通常的行銷活動來產生入站銷售線索，然後我們也對這些細分市場進行出站活動。

Got it. That makes sense. And then in terms of the rollout of the new platform is there a timeline by which you're planning to sort of get that in customers' hands? And what sort of enhanced features do you think are coming to the table that would potentially drive expansion or further retention momentum going forward?

知道了。這是有道理的。那麼，就新平台的推出而言，您是否計劃將其交到客戶手中？您認為哪些增強功能可能會推動未來的擴張或進一步保留動力？

Sure. So we developed an entirely new product platform we call the new Weave experience and built on that are really two products; Weave Enterprise, which is a product focused almost -- well primarily almost exclusively on multi-locations. And so that product offers those customers the ability to manage multiple locations through one application, through one login. So that will be very, very helpful. They can also multitask. They can also use the application to take up as much or little real estate on their screen as they like. So that is really the opportunity, the product opportunity that we now have to really move in a big way into multi-location sales.

當然。因此，我們開發了一個全新的產品平台，我們稱之為新的 Weave 體驗，並在此基礎上建構了兩種產品： Weave Enterprise，這是一款幾乎完全專注於多地點的產品。因此，該產品使這些客戶能夠透過一個應用程式、一次登入來管理多個位置。所以這將非常非常有幫助。他們還可以同時處理多項任務。他們還可以使用該應用程式根據需要在螢幕上佔用或多或少的空間。所以這確實是一個機會，一個我們現在必須真正大舉進軍多地點銷售的產品機會。

We already have about one-third of our customers in multi-location but we really haven't had a great dedicated tool that meets all their needs or dedicated product and now we do. So with this release we are sharing this product. We are demoing this product currently with multi-location opportunities and it's getting quite a bit of interest and excitement on the multi-location opportunity side.

我們已經有大約三分之一的客戶分佈在多個地點，但我們確實沒有一個可以滿足他們所有需求的專用工具或專用產品，但現在我們有了。因此，透過此版本，我們將分享此產品。我們目前正在透過多地點機會演示該產品，並且在多地點機會方面引起了相當大的興趣和興奮。

On the second side of the Weave new experience is we've also enabled the new version of the SMB app. And really the big -- the new features there that will be -- I think we're really excited about is the ability to change -- to dynamically change the size and configuration of the app. Historically, our app was limited to kind of like an iPhone four size. And so you can retain that functionality or you can expand it have it pick up your whole screen you can have different types of views. So that should be very helpful.

Weave 新體驗的第二個面向是我們也啟用了新版本的 SMB 應用程式。真正重要的——新功能——我認為我們真正感到興奮的是改變的能力——動態改變應用程式的大小和配置。從歷史上看，我們的應用程式僅限於 iPhone 4 的尺寸。因此，您可以保留該功能，也可以擴展它，讓它佔據整個螢幕，您可以擁有不同類型的視圖。所以這應該很有幫助。

Also, it's got auto update features so that the app just auto updates like a modern app versus having to go and download it and delete and replace. And that was historically a source of some challenges certainly on the support side because you couldn't guarantee all the customers are running the same version of the app. So that should be very helpful.

此外，它還具有自動更新功能，因此該應用程式只需像現代應用程式一樣自動更新，而不必下載、刪除和替換。從歷史上看，這無疑是支援方面的一些挑戰的根源，因為您無法保證所有客戶都運行相同版本的應用程式。所以這應該很有幫助。

I think we have about 7,000 customers currently using the SMB Weave app and I think they toggle back and forth. They can use the legacy app if they want. They can use the new one. But we've got about 7,000 on it now. The other interesting thing about the new app for the SMB actually both products is you can run them on Chrome, which historically we couldn't do. They're very browser friendly and/or you can just download the app. So hopefully that helps.

我認為目前我們有大約 7,000 名客戶在使用 SMB Weave 應用程序，而且我認為他們會來回切換。如果他們願意，他們可以使用舊版應用程式。他們可以使用新的。但我們現在已經有大約 7,000 個了。關於中小企業的新應用程式的另一個有趣的事情實際上是這兩種產品都可以在 Chrome 上運行它們，而歷史上我們無法做到這一點。它們對瀏覽器非常友好和/或您只需下載應用程式即可。希望這會有所幫助。

Okay. Thanks, Brett. Appreciate all the color there.

好的。謝謝，布雷特。欣賞那裡的所有顏色。

Alex Sklar, Raymond James.

亞歷克斯·斯克拉，雷蒙德·詹姆斯。

Great. Thank you. Brett or Alan just in terms of all the added integration work you've announced over the last year, can you just frame the size of your installed base today that's not on one of your integrated bundles but they now have access to one of those plans given all the work you've done in the past several years. And then with that what does that back-to-base motion look like as you try and upsell some of these customers to your elite plan? Thanks.

偉大的。謝謝。布雷特或艾倫，就您去年宣布的所有新增整合工作而言，您能否列出今天的安裝基礎規模，該規模不在您的集成捆綁包中，但他們現在可以訪問其中一個計劃鑑於您在過去幾年中所做的所有工作。那麼，當您嘗試向其中一些客戶追加銷售您的精英計劃時，回到基地的動作會是什麼樣子呢？謝謝。

So I'll start. Alex about 10% of our customers are now on a non-integrated product. And so we continue to penetrate into that given these integrations and it opens that up. And so the upsell team can then take that as soon as that integration is done; give them a call, describe what now can be accomplished including just the call pop feature depending on the level of the integration.

那我就開始吧。Alex 我們大約 10% 的客戶現在使用非整合產品。因此，鑑於這些集成，我們繼續深入研究這一點，並打開了大門。因此，一旦整合完成，追加銷售團隊就可以立即採取行動；給他們打電話，描述現在可以完成什麼，包括根據整合層級的呼叫彈出功能。

Obviously, we read from that integration. In some cases, we have the write-back capability for appointment reminders and with deep enough integrations obviously, we can go clear through to payments. So that upsell motion becomes fairly compelling, given the new integrations and that the process is really one through our upsell team to dig in there.

顯然，我們從這種整合中讀出了內容。在某些情況下，我們具有預約提醒的回寫功能，並且顯然透過足夠深入的集成，我們可以清楚地完成付款。因此，鑑於新的集成，並且該過程實際上是我們的追加銷售團隊深入挖掘的過程，因此追加銷售的動議變得相當引人注目。

I would add, Alex, that in addition to new integrations, we've spent a lot of time deepening integration. So a customer maybe on just a base Weave package. But as we add deepened integrations then other upsells, other higher-end bundles become much more interesting to them, because they just work better as we deepen an integration. So that'd be one point.

亞歷克斯，我想補充一點，除了新的整合之外，我們還花了很多時間來深化整合。因此，客戶可能只使用基礎 Weave 套件。但是，當我們添加深化的集成，然後添加其他追加銷售時，其他高端捆綁產品對他們來說變得更有趣，因為隨著我們深化集成，它們的效果會更好。所以這就是一點。

And then the second point is events. One thing we found is when we're in an event and we put up a banner that says now integrates with XYZ BPMS, we get a lot of interest and a lot of activity. So it's not really an upsell but it is taking prospects, who are interested in Weave but haven't yet pulled the trigger, because we didn't have the integration, it makes that a much more compelling opportunity for them.

然後第二點是事件。我們發現的一件事是，當我們參加一項活動並張貼橫幅，上面寫著現在與 XYZ BPMS 整合時，我們會引起很大的興趣和很多活動。因此，這並不是真正的追加銷售，而是吸引潛在客戶，他們對 Weave 感興趣但尚未扣動扳機，因為我們沒有進行整合，這對他們來說是一個更具吸引力的機會。

Okay. Great color on that new logo piece too. And so it sounds like probably more than 10% like in terms of the upsell opportunity but the customers that are not on integrated products are 10%. But this is more than just the integration of the upsell. Is that right?

好的。新標誌的顏色也很棒。因此，就追加銷售機會而言，聽起來可能超過 10%，但不使用整合產品的客戶只有 10%。但這不僅僅是加售的整合。是這樣嗎？

That's right.

這是正確的。

Okay. And then just as a follow-up, I want to ask kind of following-up on Parker's first question but just in terms of top off funnel growth and you've got the more formal expansion into specialty medical now that TAM is larger than your other ones you talked about. How is that top of funnel kind of lead gen tracked relative to your overall kind of 20% top line growth? And where have kind of been the biggest incremental lead gen successes over the last year?

好的。然後，作為後續行動，我想對Parker 的第一個問題進行一些後續行動，但就頂部漏斗增長而言，既然TAM 比您的規模更大，您就已經向專業醫療領域進行了更正式的擴張。相對於您 20% 的整體營收成長，漏斗頂部的潛在客戶開發情況是如何追蹤的？去年最大的潛在客戶開發成功增量在哪裡？

So lead gen continues to grow. We've got strong performance over the -- definitely over the last six months on generating new leads in our now four core verticals. Dental continues to be our largest. That's the largest part of our -- in just sheer numbers largest part of our install base, largest source of leads, largest number of new customers closed.

因此，銷售線索持續成長。在過去的六個月裡，我們在我們現在的四個核心垂直領域創造了新的潛在客戶，並且取得了強勁的業績。牙科仍然是我們最大的業務。這是我們的最大部分——僅就數量而言，我們安裝基礎的最大部分，最大的潛在客戶來源，最大數量的新客戶關閉。

But I would say we're fairly well distributed on lead gen versus kind of our install base with the exception of medical. Medical is much stronger on a kind of percentage of growth and just number of leads relative to the base perspective.

但我想說，與我們的安裝基礎相比，我們在潛在客戶開發方面的分佈相當均勻，醫療除外。與基本角度相比，醫療在成長百分比和潛在客戶數量方面要強得多。

Okay. Thank you, both.

好的。謝謝你們，兩位。

Brent Bracelin, Piper Sandler.

布倫特·布萊斯林，派珀·桑德勒。

Good afternoon. Thank you for taking my questions here. I guess, Brett, I want to start with just the demand trends in the quarter. Subscription and payment revenue looks like it was up the most sequentially over $3 million here in well over three years. What's driving the strength here? Again, it was pronounced increase here sequentially. What drove the upside this quarter? Thanks.

午安.感謝您在這裡提出我的問題。布雷特，我想我只想從本季的需求趨勢開始。訂閱和支付收入看起來是三年多來的最大環比增幅，超過 300 萬美元。是什麼推動了這裡的力量？再次，此處明顯增加。是什麼推動了本季的上漲？謝謝。

Sure. So it was on multiple fronts. Sales, is doing quite well. We've been building on our sales momentum. We had a good quarter. I think it was -- I think this quarter we closed more new sales than previous quarters, certainly in the previous couple of quarters. So I would say, new customer acquisition has been growing. So that's good news.

當然。所以它是在多個方面進行的。銷售，做的相當不錯。我們一直在鞏固我們的銷售勢頭。我們度過了一個美好的季度。我認為，我認為本季我們完成的新銷量比前幾季要多，尤其是前幾季。所以我想說，新客戶的獲取一直在成長。這是個好消息。

Alan mentioned that we did some price adjustments this quarter and we do them pretty regularly for the last several years, but we have price adjustments this quarter over certain kind of cohorts product types customers, et cetera. And then payments did well. We had a nice payments growth. We had a bit of expansion in our net take rate. Anything else?

艾倫提到，我們本季進行了一些價格調整，並且在過去幾年中我們經常進行這些調整，但本季度我們針對某些同類產品類型客戶等進行了價格調整。然後付款表現良好。我們的付款成長良好。我們的淨收入率有所擴大。還要別的嗎？

I think those are the key elements, yes.

我認為這些是關鍵要素，是的。

Helpful color there. Just as we think about the -- remember the business, particularly, against a macro environment certainly not getting any better. So it does sound like it's a lot of it is internal got execution stuff that's working for you. I wanted to double-click into the Patterson Dental relationship and what changes.

那裡有有用的顏色。正如我們所思考的——記住業務，特別是在宏觀環境肯定不會好轉的情況下。所以聽起來確實有很多內部執行的東西對你有用。我想雙擊進入 Patterson Dental 關係以及發生了什麼變化。

You've had a relationship there. It seems like there's something new and just trying to better understand what that means tapping into that sales force team? What does it do? Is this a strategic relationship that might blossom into incremental net new ACV build next year? Could you start to see things earlier? Any sort of additional details on what that means to the business and the opportunity would be helpful. Thanks.

你們在那裡有過關係。似乎有一些新的東西，只是想更好地理解這意味著利用銷售團隊？它有什麼作用？這種戰略關係是否可能在明年發展成為增量淨新 ACV 建設？你能更早開始看到事物嗎？有關這對業務和機會意味著什麼的任何其他詳細資訊都會有所幫助。謝謝。

Sure. So we are really, really excited about the traction we're getting on the partnership side. Every quarter I stand up in front of the team and I talk about the things that get me excited. And for the last couple of quarters, partnerships has definitely been in it.

當然。因此，我們對合作關係的吸引力感到非常非常興奮。每個季度我都會站在團隊面前談論讓我興奮的事情。在過去的幾個季度裡，合作夥伴關係肯定是其中的一部分。

Historically, Weave has not been super, I would say, not partner friendly, but we haven't really gone out of our way to establish an additional channel and partnerships. And we decided about a year ago that we just wanted to kind of change our approach and establish win-win partnerships with the PMS providers.

我想說，從歷史上看，Weave 並不是超級友好，對合作夥伴也不友好，但我們並沒有真正不遺餘力地建立額外的管道和合作夥伴關係。大約一年前，我們決定改變我們的方法，與 PMS 提供者建立雙贏的合作關係。

And so we sat down and we talked about all the opportunities, and how we really were interested in win-win. And we hired a new head of channels very clever guy in December, and really just started working with these PMS providers to figure out how we could win together. And we hashed out a deal end of last year with Dentrix and Dentrix Ascend, and then we closed this deal with Patterson and it's terrific.

所以我們坐下來討論了所有的機會，以及我們對雙贏的真正興趣。我們在 12 月聘請了一位非常聰明的新通路主管，並且實際上剛開始與這些 PMS 提供者合作，以找出我們如何共同獲勝。去年年底，我們與 Dentrix 和 Dentrix Ascend 達成了一項交易，然後我們與 Patterson 完成了這項交易，這非常棒。

We're going to market together. They -- Patterson has a Weave/Fuse. Fuse is their enterprise cloud solution. They have a Weave-Fuse bundle that they're selling. They're calling on about 100,000 locations and customers. So they're now calling into that with the Weave, Patterson bundle. And also they're sharing leads with us. They're sharing opportunities with us. So really collaborating on selling Weave and Patterson together because it just really is one plus one equals three for the customers.

我們一起去市場。他們——帕特森有一個編織/保險絲。Fuse 是他們的企業雲端解決方案。他們正在銷售 Weave-Fuse 捆綁包。他們正在拜訪大約 100,000 個地點和客戶。因此，他們現在正在透過 Weave、Patterson 捆綁包來解決這個問題。他們也與我們分享線索。他們正在與我們分享機會。因此，我們確實合作銷售 Weave 和 Patterson，因為這對客戶來說確實是一加一等於三。

And as far as getting traction, we actually sent a team to their national sales kickoff in June trained their salespeople. Their salespeople are excited about it. We're already getting leads sent over. We've got deals signed. We've got ARR added already kind of from June to today. So it's off to a positive start and we hope to have more partnerships with practice management software providers like this going forward.

就獲得吸引力而言，我們實際上派了一個團隊參加六月的全國銷售啟動儀式，培訓他們的銷售人員。他們的銷售人員對此感到興奮。我們已經收到發送過來的線索。我們已經簽署了協議。從 6 月到今天，我們已經添加了 ARR。因此，這是一個積極的開始，我們希望未來與這樣的實踐管理軟體供應商建立更多的合作關係。

Great. Well, it sounds like that partner channel is really starting to blossom for the company. So great to see. Thank you.

偉大的。嗯，聽起來該公司的合作夥伴管道確實開始蓬勃發展。很高興看到。謝謝。

Thank you.

謝謝。

Mark Schappel, Loop Capital Markets.

馬克‧沙佩爾 (Mark Schappel)，Loop 資本市場。

Hi, thanks for taking my question. And nice job on the quarter and the guide. Brett, it's been a couple of quarters now since, I think, you brought on board new sales leadership and often when such leadership comes on board that typically means sales changes or changes to the sales team. I was wondering if you could just give us an update on whether there have been any meaningful changes to sales recently that could be helping drive the upside here?

您好，感謝您提出我的問題。本季度和指南的工作做得很好。布雷特，我想，自從您引入新的銷售領導層以來，已經有幾個季度了，而當這種領導層上任時，通常意味著銷售變化或銷售團隊的變化。我想知道您能否向我們提供最新情況，說明最近銷售是否發生了任何有意義的變化，可能有助於推動這裡的上漲？

I would say, the changes that are being -- so this is David McNeil who joined and he's a very thoughtful person. Spent a lot of time getting to know the people, how the business works. We're a very unique animal and then bringing to bear his lessons learned, his experiences on how we can do better.

我想說的是，正在發生的變化——大衛·麥克尼爾加入了，他是一個非常有思想的人。花了很多時間去了解人們，了解業務如何運作。我們是一種非常獨特的動物，然後將他學到的教訓和經驗告訴我們如何做得更好。

So I would say the changes that have occurred have been small. So very small incremental changes just making observations, making tweaks, making improvements. We're strong believers here that if you just do a little bit better 1% to 2% a month, it adds up over time. And he's taken a very thoughtful approach.

所以我想說所發生的變化很小。所以非常小的漸進式變化只是進行觀察、調整、改進。我們堅信，如果你每個月做得好一點 1% 到 2%，隨著時間的推移，效果就會不斷增加。他採取了非常深思熟慮的方法。

One of the motions that he's been very involved with is really getting our middle market business up and running. Historically -- we have a very small group there, and historically, we just haven't had a great specific middle market multi-location product to sell. So he spent a lot of time working with sales leadership ideating on what's the right structure, developing that model for that team. And so now that we actually have a product that works really, really well for that segment, I think, we're well positioned to grow there.

他一直積極參與的動議之一是真正讓我們的中間市場業務啟動並運行。從歷史上看，我們在那裡有一個非常小的群體，而且從歷史上看，我們只是沒有一個偉大的特定中間市場多地點產品可供銷售。因此，他花了很多時間與銷售領導層合作，思考什麼是正確的結構，並為該團隊開發該模型。因此，現在我們實際上擁有了一款非常適合該細分市場的產品，我認為我們已經做好了在該細分市場中發展的有利條件。

He's provided a lot of support to the inbound and outbound leadership. They're cranking away. So overall, I would say, kind of providing ideas thoughts leadership and just opportunities for incremental improvement, but no big dramatic changes.

他為入境和出境領導提供了許多支持。他們正在開動。所以總的來說，我想說，有點提供想法、領導和漸進改進的機會，但沒有重大的戲劇性變化。

Great. Thanks. And then secondly last year Boomerang customers returning to the Weave platform were a big part of the Weave story. And I was wondering if there's anything to report on that front this quarter?

偉大的。謝謝。其次，去年 Boomerang 客戶返回 Weave 平台是 Weave 故事的重要組成部分。我想知道本季是否有任何關於這方面的報告？

Yes, it continues -- the quantities continue at the same rate. I mean we stopped reporting it because it was basically the same number plus a little bit more. But that phenomenon still occurs. We have -- a competitor will call in and they'll say, hey we can do everything Weave can do for $100 less a month. And the customer says, that sounds great. And they quit and they go there and then they come right back because they find out that they just don't have the functionality the depth of integration, the quality of the Weave solution. So that phenomenon is continuing.

是的，它還在繼續——數量繼續以同樣的速度增長。我的意思是我們停止報告它，因為它基本上是相同的數字，再加上一點點。但這種現象仍然存在。我們有——競爭對手會打電話，他們會說，嘿，我們可以做 Weave 能做的一切，每月只需少花 100 美元。客戶說，這聽起來很棒。他們退出了，去了那裡，然後又回來了，因為他們發現他們只是不具備 Weave 解決方案的功能、整合深度和品質。所以這種現象還在繼續。

Great. Thank you.

偉大的。謝謝。

Tyler Radke, Citi.

泰勒·拉德克，花旗銀行。

Hi. This is Kylie on for Tyler. Congrats on the quarter. And I guess I'll start off with you raised the full year more than DAV. I'd love to hear what gives you the better visibility into the second half? And any comments on the macro changing relative to last quarter? Thanks.

你好。這是凱莉為泰勒代言。恭喜本季。我想我會從你全年籌集的資金比 DAV 多開始。我很想聽聽看是什麼讓您對下半場有更好的了解？對於相對於上季的宏觀變化有何評論？謝謝。

Yes. Thanks, Kylie. Thanks for noticing. It is an important aspect of the business. We were on 10 consecutive quarters of being able to meet and exceed our guidance and we take that seriously providing guides that we have a high conviction around. So it's just indicative of the fact that the business is executing well. The sales performance has been good. It continues to be incrementally better as Brett mentioned. And so we're confident in being able to roll that through and do so with high confidence.

是的。謝謝，凱莉。感謝您的關注。這是業務的一個重要方面。我們連續 10 個季度能夠達到並超越我們的指導，我們認真對待這一點，並提供我們堅信的指導。因此，這僅表示業務執行良好。銷售業績一直不錯。正如布雷特所提到的，它繼續逐漸變得更好。因此，我們有信心能夠順利完成這項任務，並且充滿信心。

On the second thing regarding macro trends they're out there. But I think one of the things that is unique to our small businesses are that dentists optometrists, veterinarians, the medical industries they are very stable and reliable businesses. They are not subject to being -- going out of business at anywhere near the same rate as a typical SMBs. And so from a macro perspective just overall we still need to see our dentists, we still need to see our doctor. We need to take our dogs to the vet. And those things aren't as impacted by the macro trends largely as many others. And so that's really good news for us.

關於宏觀趨勢的第二件事，它們就在那裡。但我認為我們小型企業的獨特之處之一是牙醫、驗光師、獸醫、醫療行業，他們是非常穩定和可靠的企業。它們不會以與典型中小企業相同的速度倒閉。因此，從宏觀角度來看，總的來說，我們仍然需要去看牙醫，我們仍然需要去看醫生。我們需要帶我們的狗去看獸醫。而且這些事情不像其他許多事情那樣很大程度上受到宏觀趨勢的影響。這對我們來說確實是個好消息。

And I really think it's one of the things that the market doesn't fully understand or appreciate about Weave is just the strength of the kind of customers and their resiliency through any kind of macro trends that may disrupt other segments of the economy.

我真的認為市場對 Weave 沒有完全理解或欣賞的事情之一就是這類客戶的實力及其在任何可能擾亂經濟其他領域的宏觀趨勢中的彈性。

Understood. That's helpful. Next I'd love to hear about any feedback you've had on the Call Intelligence product that you guys have released and any margin comments you have on how that compares to the overall business and the attach rates you anticipate?

明白了。這很有幫助。接下來，我很想聽聽您對您們發布的呼叫智慧產品的任何回饋，以及您對與整體業務和您預期的附加率相比如何的利潤評論？

So Call Intelligence has been -- as we roll out these products we continue to listen to customers and making sure that they are meeting all of the needs of these customers. Call Intelligence has some great promise. And as Brett mentioned we have a better more historical data than just about anybody else with respect to the calls, texts and e-mails associated with our 15 years in the business.

因此，Call Intelligence 一直在推出這些產品時繼續傾聽客戶的意見，並確保他們滿足這些客戶的所有需求。呼叫智能有一些巨大的前景。正如 Brett 所提到的，我們比其他任何人都擁有更多關於我們 15 年業務相關的電話、簡訊和電子郵件的歷史數據。

And so we're building out these models that allow us to train the AI so that we can show customers when calls are coming in, what their call patterns are, what the emotion is around these calls. And so we're excited about where that's going to go. It's still relatively early and we continue to roll that out.

因此，我們正在建立這些模型，使我們能夠訓練人工智慧，以便我們可以向客戶展示何時有電話打入，他們的呼叫模式是什麼，以及圍繞這些呼叫的情緒是什麼。因此，我們對未來的發展感到興奮。現在還相對較早，我們將繼續推出。

And we believe over time this will become a very important aspect of how our customers really come to understand how their front desk is interacting with their patients and how they can improve that. And really fundamentally it's about making sure that every opportunity for revenue that comes in via a phone call is actually capitalized on.

我們相信，隨著時間的推移，這將成為我們的客戶如何真正了解他們的前台如何與患者互動以及如何改進的一個非常重要的方面。從根本上來說，這是為了確保每一個透過電話獲得收入的機會都得到真正的利用。

Thank you.

謝謝。

Mike Funk, Bank of America.

麥克‧芬克，美國銀行。

Hi. Great. This is Matt on for Mike. Thanks for taking the question. Great to hear about the revenue reacceleration in specialty medical. Would love some additional color on some of the other verticals? And more specifically did any other verticals reaccelerate during the quarter or was it just specialty Medical?

你好。偉大的。這是麥克的馬特。感謝您提出問題。很高興聽到專業醫療的收入重新加速。想要在其他一些垂直方向上添加一些額外的顏色嗎？更具體地說，本季是否有其他垂直行業重新加速，還是只是專業醫療？

The reacceleration with respect to the verticals is across the board. Specialty medical is the fastest of those given the new integrations that we've done in that space as well as just the uptake. So we're pleased to see the revenue reacceleration kind of across the board.

垂直方向的再加速是全面的。考慮到我們在該領域所做的新整合以及吸收，專業醫療是最快的。因此，我們很高興看到收入全面加速。

Got it. Thank you. And then just one quick follow-up on Weave Enterprise. Anything on just the early learning and early reception since the launch? And then anything we should know in terms of the nuances in terms of the go-to-market plan?

知道了。謝謝。然後是對 Weave Enterprise 的快速跟進。自推出以來的早期學習和早期接受有什麼進展嗎？那麼就上市計劃的細微差別我們該了解什麼？

Not a whole lot of insights since the launch. Sales cycles are -- for mid-market are much longer than for the single location SMB. So we are demoing it. Now we're kind of in full demo mode. This is the primary product. Well, it is the only product that we're pointing at our middle market opportunities and that pipeline continues to build. The interest in the product is high. When we show practice leaders the functionality, the multitasking capability, they are -- they express sincere interest. So now we just need to continue to build the pipeline and close those deals. Sorry, what was the second part of the question?

自推出以來並沒有太多見解。中端市場的銷售週期比單一地點的中小企業長得多。所以我們正在演示它。現在我們處於完整的演示模式。這是主要產品。嗯，這是我們針對中間市場機會的唯一產品，而且該管道仍在繼續建造。對產品的興趣很高。當我們向實踐領導者展示功能、多任務處理能力時，他們表達了真誠的興趣。所以現在我們只需要繼續建立管道並完成這些交易。抱歉，問題的第二部分是什麼？

Just the nuances between the go-to-markets which you address.

只是您所解決的進入市場之間的細微差別。

Yes, it's a totally different sales cycle. It's a different type of sales team. Yes, so that's -- there you go.

是的，這是一個完全不同的銷售週期。這是一個不同類型的銷售團隊。是的，那就是──就這樣。

Thank you.

謝謝。

Henry Dane, Goldman Sachs.

亨利·戴恩，高盛。

Hey guys. Congrats on the great quarter, another great quarter. Just one for me. On NRR another quarter of inflection to 97%, can you just break down where that inflection is coming from just between attrition and upsell, cross-sell, and where investors could see that metric go in the future?

嘿夥計們。恭喜這個偉大的季度，又一個偉大的季度。只給我一個。NRR 又一個季度出現了 97% 的拐點，您能否詳細分析一下這種拐點來自於自然流失和追加銷售、交叉銷售之間的情況，以及投資者未來可以看到該指標的走向嗎？

Yes. Henry, thank you. We've seen our NRR as high as 105% in past quarters. We certainly think we want to get above 100% again. But the things that are driving that are kind of across the board. We don't break them out in a quantitative way but it includes payments it includes our upsells.

是的。亨利，謝謝你。過去幾季我們的 NRR 高達 105%。我們當然認為我們希望再次超過 100%。但驅動因素是全面的。我們不會以定量的方式分解它們，但它包括付款，也包括我們的追加銷售。

As we mentioned, we're seeing products like forms and bulk messaging and insurance verification become a substantial part of the growing revenue streams that we have and that are available for upsell. So those are the areas that we see coming on and we continue to develop new ones.

正如我們所提到的，我們看到表格、大量訊息傳遞和保險驗證等產品成為我們不斷增長的收入流的重要組成部分，並且可用於追加銷售。這些是我們看到的領域，我們將繼續開發新的領域。

Call Intelligence is in the works there. They will become we're sure a nice element of upsell. And those are the things that are driving that. So it is a great inflection point. It's nice to see and we intend for it to continue.

呼叫智能正在那裡進行。我們確信它們將成為追加銷售的一個很好的元素。這些都是推動這趨勢的因素。所以這是一個很大的轉折點。很高興看到這一點，我們打算讓它繼續下去。

Great. Thanks for the color.

偉大的。謝謝你的顏色。

There are no further questions at this time. I would like to turn the floor back over to Brett White for closing comments.

目前沒有其他問題。我想請布雷特懷特（Brett White）發表結束評論。

Okay. Well, thank you all for joining the call, and thank you again so very much to the Weave team. I'm excited to continue to build on the progress that we've made to deliver improved outcomes for both our customers and our shareholders over coming quarters. Thank you.

好的。好的，感謝大家加入此次電話會議，並再次非常感謝 Weave 團隊。我很高興能夠繼續鞏固我們已經取得的進展，在未來幾季為我們的客戶和股東提供更好的成果。謝謝。

This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation.

今天的電話會議到此結束。此時您可以斷開線路。感謝您的參與。