Back to top

Image: Bigstock

Weave (WEAV) Partners With Affirm for Easy Healthcare Payments

Read MoreHide Full Article

Weave Communications (WEAV - Free Report) recently joined forces with Affirm to introduce an innovative payment solution that empowers patients with the option of pay-over-time financing, offering remarkably low rates starting at 0% annual percentage rate (APR).

With seamless integration, this collaboration facilitates swift access to healthcare while simplifying the payment process for practices, fostering a patient-centric approach.

Expanding Portfolio Aids Growth

Weave shares have returned 75.3% compared with the Zacks Computer & Technology sector’s increase of 33.1% year to date. The outperformance can be attributed to an expanding portfolio with a special emphasis on bringing significant advantages to healthcare patients.

Weave has broadened its product offerings by launching softphones, enabling teams to communicate with patients from the office or remotely without needing dedicated telecom hardware.

Weave has introduced online bill pay, enabling small businesses to quickly generate and send payment links via web pages, text messages, or emails, allowing customers the convenience of paying their bills online.

Weave's robust product portfolio is the critical catalyst for retaining customers, especially within the dental, optometry, and veterinarian sectors, where most clients operate.

With the recent introduction of Practice Analytics, dental practices are gaining invaluable insights and data-driven options to enhance patient care and foster business growth. This solidifies Weave's position as a premier patient engagement software dedicated to the success of healthcare customers.

In addition to this, Weave’s platform ranked first in 20 categories in G2’s 2023 Summer Report and won 25 badges, including Most Implementable Patient Experience Software and Best Usability for Patient Relationship Management Software.

Revenues hit $41.7 million, marking a 19.3% year-over-year increase in the second quarter of fiscal 2023. The growth is driven by continued high demand for the healthcare platform and the steady customer base growth.

For the third quarter of fiscal 2023, Weave expects total revenues between $41.7 million and $42.7 million.

For fiscal 2023, Weave anticipates total revenues between $164.7 million to $166.7 million.

The Zacks Consensus Estimate for the second quarter is currently pegged at $42.21 million, suggesting a year-over-year growth of 16.51%.

Zacks Rank & Stocks to Consider

Currently, Weave carries a Zacks Rank #3 (Hold).

Dell Technologies (DELL - Free Report) , NVIDIA (NVDA - Free Report) and Splunk are some other top-ranked stocks that investors can consider in the broader sector, each sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

DELL, NVDA and SPLK shares have returned 71.4%, 186.9% and 69.2%, respectively, on a year-to-date basis.

Long-term earnings growth rates for Dell Technologies, NVIDIA and SPLUNK are pegged at 12%,13.5% and 26.6%, respectively.

Published in