WEAVE COMMUNICATIONS, INC., 10-K filed on 3/5/2026
Annual Report
v3.25.4
Cover Page - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Mar. 02, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-40998    
Entity Registrant Name Weave Communications, Inc.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 26-3302902    
Entity Address, Address Line One 1331 West Powell Way    
Entity Address, City or Town Lehi    
Entity Address, State or Province UT    
Entity Address, Postal Zip Code 84043    
City Area Code 385    
Local Phone Number 331-4164    
Title of 12(b) Security Common stock, par value $0.00001 per share    
Trading Symbol WEAV    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company true    
Entity Ex Transition Period false    
ICFR Auditor Attestation Flag false    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 532.1
Entity Common Stock, Shares Outstanding   78,648,611  
Documents Incorporated by Reference
Part III incorporates by reference certain information from the registrant’s definitive proxy statement, or the 2026 Proxy Statement, relating to its 2026 Annual Meeting of Stockholders. The 2026 Proxy Statement will be filed with the United States Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
    
Entity Central Index Key 0001609151    
Amendment Flag false    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Firm ID 238
Auditor Name PricewaterhouseCoopers LLP
Auditor Location Salt Lake City, Utah
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 54,959 $ 51,596
Short-term investments 26,761 47,534
Accounts receivable, net 4,347 3,743
Deferred contract costs, net 13,309 11,568
Prepaid expenses and other current assets 5,618 6,298
Total current assets 104,994 120,739
Non-current assets:    
Property and equipment, net 9,212 8,443
Operating lease right-of-use assets 33,779 37,516
Finance lease right-of-use assets 10,490 10,650
Deferred contract costs, net, less current portion 11,163 9,487
Intangible assets, net 7,134 0
Goodwill 29,465 0
Other non-current assets 1,731 2,091
TOTAL ASSETS 207,968 188,926
Current liabilities:    
Accounts payable 7,262 8,276
Accrued and other current liabilities 27,919 17,638
Deferred revenue 38,051 39,987
Current portion of operating lease liabilities 4,658 4,119
Current portion of finance lease liabilities 6,706 6,600
Total current liabilities 84,596 76,620
Other long-term liabilities 200 0
Non-current liabilities:    
Operating lease liabilities, less current portion 34,554 38,961
Finance lease liabilities, less current portion 6,234 6,377
Total liabilities 125,584 121,958
COMMITMENTS AND CONTINGENCIES (Note 10)
Stockholders' equity:    
Preferred stock, $0.00001 par value per share; 10,000,000 shares authorized, zero shares issued and outstanding as of December 31, 2025 and 2024 0 0
Common stock, $0.00001 par value per share; 500,000,000 shares authorized as of December 31, 2025 and 2024, respectively, 78,353,381 and 73,225,253 shares issued and outstanding as of December 31, 2025 and 2024, respectively 0 0
Additional paid-in capital 401,576 358,549
Accumulated deficit (319,065) (291,013)
Accumulated other comprehensive loss (127) (568)
Total stockholders' equity 82,384 66,968
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 207,968 $ 188,926
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock par value (in dollars per share) $ 0.00001 $ 0.00001
Preferred stock authorized (in shares) 10,000,000 10,000,000
Preferred stock issued (in shares) 0 0
Preferred stock outstanding (in shares) 0  
Common stock par value (in dollars per share) $ 0.00001 $ 0.00001
Common stock authorized (in shares) 500,000,000 500,000,000
Common stock issued (in shares) 78,353,381 73,225,253
Common stock outstanding (in shares) 78,353,381 73,225,253
v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Revenue $ 239,024 $ 204,314 $ 170,468
Cost of revenue 66,716 58,432 54,377
Gross profit 172,308 145,882 116,091
Operating expenses:      
Sales and marketing 102,703 84,612 70,765
Research and development 44,462 40,231 34,040
General and administrative 55,753 52,452 45,652
Total operating expenses 202,918 177,295 150,457
Loss from operations (30,610) (31,413) (34,366)
Other income (expense):      
Interest income 1,811 1,851 2,196
Interest expense (1,700) (1,523) (1,923)
Other income, net 1,523 2,928 3,322
Loss before income taxes (28,976) (28,157) (30,771)
Income tax benefit (provision) 924 (189) (260)
Net loss $ (28,052) $ (28,346) $ (31,031)
Net loss per share attributable to common stockholders - basic (in dollars per share) $ (0.37) $ (0.40) $ (0.46)
Net loss per share attributable to common stockholders - diluted (in dollars per share) $ (0.37) $ (0.40) $ (0.46)
Weighted-average common shares outstanding - basic (in shares) 76,306,740 71,656,892 67,694,978
Weighted-average common shares outstanding - diluted (in shares) 76,306,740 71,656,892 67,694,978
Other comprehensive loss      
Change in foreign currency translation, net of tax $ 427 $ (657) $ 108
Net unrealized gain (loss) on investments, net of tax 14 (21) 31
Total comprehensive loss $ (27,611) $ (29,024) $ (30,892)
v3.25.4
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive (Loss) Income
Beginning balance (in shares) at Dec. 31, 2022   65,739,053      
Beginning balance at Dec. 31, 2022 $ 83,219 $ 0 $ 314,884 $ (231,636) $ (29)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common shares from stock option exercises (in shares)   1,756,386      
Issuance of common shares from stock option exercises 12,866   12,866    
Issuance of common shares from the employee stock purchase plan (in shares)   292,246      
Issuance of common shares from the employee stock purchase plan 1,329   1,329    
Vesting of restricted stock units (in shares)   3,662,161      
Common stock withheld related to net settlement of equity awards (in shares)   (1,333,489)      
Common stock withheld related to net settlement of equity awards (10,388)   (10,388)    
Stock-based compensation 22,823   22,823    
Foreign currency translation adjustments, net of tax 108       108
Net unrealized gain on investments 31       31
Net loss (31,031)     (31,031)  
Ending balance (in shares) at Dec. 31, 2023   70,116,357      
Ending balance at Dec. 31, 2023 78,957 $ 0 341,514 (262,667) 110
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common shares from stock option exercises (in shares)   325,641      
Issuance of common shares from stock option exercises 1,727   1,727    
Issuance of common shares from the employee stock purchase plan (in shares)   220,042      
Issuance of common shares from the employee stock purchase plan 1,997   1,997    
Vesting of restricted stock units (in shares)   4,198,162      
Common stock withheld related to net settlement of equity awards (in shares)   (1,634,949)      
Common stock withheld related to net settlement of equity awards (18,855)   (18,855)    
Stock-based compensation 32,166   32,166    
Foreign currency translation adjustments, net of tax (657)       (657)
Net unrealized gain on investments (21)       (21)
Net loss $ (28,346)     (28,346)  
Ending balance (in shares) at Dec. 31, 2024 73,225,253 73,225,253      
Ending balance at Dec. 31, 2024 $ 66,968 $ 0 358,549 (291,013) (568)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common shares from stock option exercises (in shares) 228,134 228,134      
Issuance of common shares from stock option exercises $ 780   780    
Issuance of common shares from the employee stock purchase plan (in shares)   248,252      
Issuance of common shares from the employee stock purchase plan 1,970   1,970    
Issuance of common shares upon the acquisition of Vidurama, Inc. (in shares)   931,438      
Issuance of common shares upon the acquisition of Vidurama, Inc. 10,041   10,041    
Indemnification holdback shares related to the acquisition of Vidurama, Inc. 539   539    
Issuance costs $ (26)   (26)    
Vesting of restricted stock units (in shares)   4,116,763      
Common stock withheld related to net settlement of equity awards (in shares) (396,459)      
Common stock withheld related to net settlement of equity awards $ (2,861)   (2,861)    
Stock-based compensation 32,584   32,584    
Foreign currency translation adjustments, net of tax 427       427
Net unrealized gain on investments 14       14
Net loss $ (28,052)     (28,052)  
Ending balance (in shares) at Dec. 31, 2025 78,353,381 78,353,381      
Ending balance at Dec. 31, 2025 $ 82,384 $ 0 $ 401,576 $ (319,065) $ (127)
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net loss $ (28,052) $ (28,346) $ (31,031)
Adjustments to reconcile net loss to net cash provided by operating activities      
Depreciation and amortization 11,590 11,517 12,001
Amortization of operating right-of-use assets 4,041 3,951 3,831
Amortization of intangible assets 866 0 0
Provision for credit losses 1,112 1,867 1,164
Amortization of deferred contract costs 14,835 13,418 12,171
Loss on disposal of assets 8 1 16
Stock-based compensation, net of amount capitalized 32,131 32,220 22,823
Net accretion of discounts on short-term investments (902) (2,134) (2,668)
Changes in operating assets and liabilities:      
Accounts receivable (1,609) (2,099) (1,379)
Deferred contract costs (18,252) (15,304) (13,313)
Prepaid expenses and other assets 1,636 373 (680)
Accounts payable (1,091) 3,116 1,323
Accrued liabilities 7,060 (941) 4,855
Operating lease liabilities (4,172) (3,970) (3,714)
Deferred revenue (1,661) 480 4,822
Net cash provided by operating activities 17,540 14,149 10,221
CASH FLOWS FROM INVESTING ACTIVITIES      
Maturities of short-term investments 58,456 66,438 62,150
Purchases of short-term investments (36,767) (53,771) (66,199)
Purchases of property and equipment (2,389) (2,185) (1,691)
Capitalized internal-use software costs (2,291) (1,600) (1,999)
Business acquisitions, net of cash acquired (23,855) 0 0
Net cash provided by (used in) investing activities (6,846) 8,882 (7,739)
CASH FLOWS FROM FINANCING ACTIVITIES      
Principal payments on line of credit 0 0 (10,000)
Principal payments on finance leases (7,168) (7,060) (7,530)
Proceeds from stock option exercises 754 1,727 12,866
Payments for taxes related to net share settlement of equity awards (2,861) (18,855) (10,388)
Stock issuance costs (26) 0 0
Proceeds from the employee stock purchase plan 1,970 1,997 1,329
Net cash used in financing activities (7,331) (22,191) (13,723)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 3,363 840 (11,241)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 51,596 50,756 61,997
CASH AND CASH EQUIVALENTS, END OF PERIOD 54,959 51,596 50,756
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid during the period for interest 1,700 1,523 1,923
Cash paid during the period for income taxes 496 189 260
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:      
Equipment purchases financed with accounts payable 28 28 52
Finance lease liabilities arising from obtaining finance lease right-of-use assets 7,131 7,395 7,183
Operating lease liabilities arising from obtaining operating lease right-of-use assets 304 149 154
Unrealized gain (loss) on short-term investments 14 (21) 31
Stock-based compensation included in capitalized software development costs 396 34 0
Equity issued as consideration in business combinations 10,041 0 0
Consideration withheld for indemnification liabilities related to business combinations $ 1,789 $ 0 $ 0
v3.25.4
Organization and Description of the Business
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Description of the Business Organization and Description of the Business
Description of the Business
Weave Communications, Inc., with its wholly-owned subsidiaries (collectively, “Weave” or the “Company”) sells subscriptions to the Weave platform, a vertical Software-as-a-Service (“SaaS”) platform that delivers AI-powered patient engagement solutions for small and medium-sized healthcare practices. The Weave platform combines patient engagement, payments, and other operational software tools with voice over internet protocol (“VoIP”) phone services. The Company was incorporated in the state of Delaware in October 2015, and its corporate headquarters are located in Lehi, UT.
v3.25.4
Basis of Presentation and Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation and Principles of Consolidation
The consolidated financial statements include the accounts of Weave Communications, Inc. and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).
Segments
The Company determines its operating and reportable segments based on how the chief operating decision maker (“CODM”), who is the Company’s Chief Executive Officer (“CEO”), reviews and manages the operating results of the business to evaluate segment performance and allocate resources within the business. As described in Note 17, the Company operates as one operating and reportable segment.
Use of Estimates
The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of sales and expenses during the reporting period. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Actual results could differ from those estimates. Significant estimates included in the Company’s financial statements include the valuation allowance against deferred tax assets, allowance for credit losses, recoverability of long-lived assets, fair value of stock-based compensation, the amortization period of deferred contract costs, and the valuation and useful lives of acquired intangible assets.
Concentration of Risks
The functionality of the Company’s software and cloud-based phone system relies heavily on its ability to integrate with customers’ systems of record, including practice or client management systems. In some of the core healthcare verticals that the Company serves, less than five providers make up the majority of practice management systems (“PMS”) maintained by practitioners in the U.S. At this time, the Company does not anticipate loss of integration rights with any of these major providers. To mitigate the risk, the Company has developed a system-agnostic subscription option that, if needed, does not rely on an integration for functionality.
Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. At times, the Company’s cash balances held at financial institutions may exceed the amount insured by the Federal Deposit Insurance Corporation. The Company has not experienced any losses on its deposits of cash.
No customers accounted for more than 10% of accounts receivable or total revenues as of and for the years ended December 31, 2025, 2024, and 2023. To date, the Company has not experienced material losses related to non-payment by customers.
Geographic Information
Other than the U.S., no individual country exceeded 10% of total revenues for the years ended December 31, 2025, 2024, and 2023. As of December 31, 2025 and 2024, substantially all of the Company’s long-lived assets were located in the U.S.
Revenue Recognition
The Company derives the majority of its revenue from subscription services by providing customers access to its platform.
The Company recognizes revenue when control of these services is transferred to customers in an amount that reflects consideration to which the Company expects to be entitled in exchange for those services, net of tax. Revenue recognition is determined from the following steps:
•Identification of a contract with a customer;
•Identification of the performance obligations in the contract;
•Determination of the transaction price;
•Allocation of the transaction price to the performance obligations within the contract; and
•Recognition of revenue when, or as, performance obligations are satisfied.
The Company recognizes revenue as follows:
Subscriptions revenue (software and phone service) is generated from fees that provide customers access to one or more of the Company’s software applications and related services. These arrangements have contractual terms, wherein payment is generally received up front either monthly or annually. Arrangements with customers do not provide the customer with the right to take possession of the Company’s software at any time. Instead, customers are granted continuous access to the services over the contractual period. The Company transfers control of services evenly over the contractual period. Accordingly, the consideration related to subscriptions is recognized over time on a straight-line basis over the contract term beginning on the date the Company’s service is made available to the customer.
The Company also provides payment processing services and receives a revenue share from a third-party payment facilitator on transactions between Weave customers that utilize the Weave payments platform, and their end consumers. These payment transactions are generally for services rendered at customers’ business location via credit card terminals or through several card-not-present modalities, including “text-to-pay” functionality. As the Company acts as an agent in these arrangements, revenue from payments services is recorded net of transaction processing fees and revenue is recognized at the time transactions are processed.
The Company offers remote installation services as part of the onboarding process, wherein the Company can install pre-configured applications on customer hardware, which allow remote access to Weave’s cloud solution. Customers may also choose to engage directly with one of several preferred third-party providers to perform on-site installation services. The Company considers onboarding and
installation services a separate performance obligation, and recognizes revenue at the time the installation services are complete.
Excluding payments services and installation revenue, most customers are billed in advance and may elect to be billed on a monthly or annual basis, while a small subset of customers are billed monthly in arrears. The Company records deferred revenue when cash payments are received or billings are due in advance of the performance of services. Deferred revenue is recognized as revenue when, or as, the performance obligations are satisfied. Software and phone service revenue is recognized net of discounts in the condensed consolidated statements of operations and comprehensive loss. The Company does not consider discounts to be variable consideration as they are stated on each agreement and not subject to contingencies or variability. The Company collects sales and communications taxes from its customers. In the consolidated statements of operations and comprehensive loss, amounts collected from taxes are excluded from the reported revenue amounts.
The Company elected to apply the practical expedient to not disclose the transaction price allocated to remaining performance obligations for contracts with a contract term of one year or less.
In addition to providing software and VoIP phone services, the Company provides phone hardware to its customers as part of its subscription offering. The Company allows customers to include phones without adjustment to the subscription base price, depending on the selected subscription bundle. The majority of customers select a bundle which includes five phones without adjustment to the subscription price. In such arrangements, the Company is deemed the lessor and the arrangement is an operating lease per guidance provided in the Accounting Standards Codification (“ASC”) 842, Leases. Title of the phones does not transfer to the customer at any point. If a customer were to cancel at any time, the phones are returned to the Company. For the years ended December 31, 2025, 2024, and 2023 the Company recorded $6.8 million, $4.7 million and $4.5 million, respectively, in lease revenue associated with the phone hardware.
As a lessor, future minimum lease payments may vary due to customer agreements being either month-to-month or annual, and the fact that subscription payments are allocated based on the fair value of all services provided to the customer. With phone hardware being deployed to customers for their useful life, residual value does not accrue to the benefit of the Company. Phone hardware that is returned is refurbished and placed into service.
Cash and Cash Equivalents
Cash consists of deposits in financial institutions. Cash equivalents consist of highly liquid investments in money market securities with an original maturity of 90 days or less. The fair value of cash equivalents approximated their carrying value as of December 31, 2025 and 2024. As of December 31, 2025 and 2024, the Company did not have any restricted cash.
Liquidity and Capital Resources
The Company has incurred losses and, prior to 2023, has generated negative cash flows from operations since inception. As of December 31, 2025, the Company had an accumulated deficit of $319.1 million. The Company funds its operations through cash flows generated by sales of its product offerings. As of December 31, 2025, the Company had no outstanding borrowings under its revolving line of credit and $50.0 million in available borrowing capacity.
The Company believes its existing cash, cash equivalents, short-term investments, borrowing capacity under its revolving line of credit, and cash flows provided by sales of product offerings will be sufficient to meet operating cash flow requirements for at least twelve months from the date of issuance of the December 31, 2025 consolidated financial statements. As a result of the Company’s growth plans, the Company may experience losses and negative cash flows from operations in the future.
Foreign Currency
The reporting currency of the Company is the U.S. dollar. The functional currency of our subsidiaries in India is the U.S. dollar. The functional currency of our subsidiary in Canada is the Canadian Dollar. Transactions within a subsidiary entity which are denominated in currencies other than the subsidiary’s functional currency are recorded based on the exchange rates at the time such transactions arise. Resulting gains and losses are recorded in other income (expense), net in the consolidated statements of operations and comprehensive loss in the period of occurrence.
Revenues and expenses of the Company’s foreign subsidiaries are translated from the applicable functional currency to the U.S. dollar using the average exchange rates during the reporting period, while assets and liabilities are translated at the period-end exchange rates. Resulting gains or losses from translating foreign currency are included in accumulated other comprehensive income (loss) in the consolidated statements of operations and comprehensive loss.
Short-Term Investments
The Company determines the appropriate classification of its investments at the time of purchase. As the Company views these securities as available to support current operations, it accounts for these debt securities as available-for-sale and classifies them as current assets on its consolidated balance sheets. These securities are recorded at estimated fair value. Unrealized gains and losses for available-for-sale securities are included in other comprehensive income (loss) in the consolidated statements of operations and comprehensive loss. The Company periodically evaluates its investments to assess whether those with unrealized loss positions are other-than-temporarily impaired. The Company considers impairments to be other than temporary if they are related to deterioration in credit risk or if it is more likely than not that the Company will sell the securities before the recovery of their cost basis. If the Company does not intend to sell a security and it is not more likely than not that it will be required to sell the security before recovery, the unrealized loss is separated into an amount representing the credit loss, which is recognized in other income (expense), net in the consolidated statements of operations and comprehensive loss, and the amount related to all other factors, which is recorded in other comprehensive income (loss) in the consolidated statements of operations and comprehensive loss. To date, the Company has not experienced any credit losses on its investments.
Realized gains and losses and declines in value judged to be other than temporary are determined based on the specific identification method and are reported in other income (expense), net in the consolidated statements of operations and comprehensive loss. Realized gains, consisting of discount accretion, for the years ended December 31, 2025, 2024, and 2023 were $0.9 million, $2.1 million, and $2.7 million, respectively.
Accounts Receivable and Provision for Credit Losses
Accounts receivable are mostly comprised of credit card billings and are recorded at the invoiced amounts when an unconditional right to cash exists. Accounts receivable do not bear interest. Accounts receivable balances outstanding longer than the contractual payment terms are considered past due. Accounts are written off when deemed uncollectible. Recoveries of accounts receivable previously written off are recorded when cash is received.
For the Company’s trade accounts receivable from its customers, the Company performs ongoing credit evaluations of its customers and maintains a provision for expected credit losses. The provision for expected credit losses represents the Company’s best estimate based on current and historical information, and reasonable and supportable forecasts of future events and circumstances. The Company’s provision for credit losses was $0.7 million and $0.5 million as of December 31, 2025 and 2024, respectively.
The following is a roll forward of our provision for credit losses (in thousands):
Year Ended December 31,
202520242023
Balance Beginning of Period$523 $200 $— 
Charged to Costs or Expenses1,112 1,867 1,164 
Deductions(897)(1,544)(964)
Balance at End of Period$738 $523 $200 
Property and Equipment
Property and equipment are stated at historical cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of property and equipment or over the related lease terms (if shorter). Costs of major improvements that extend the useful life of the property and equipment have been capitalized, while costs of normal repairs and maintenance are expensed as incurred. The Company retains ownership of the phone hardware. Phone hardware is deemed to have a useful life of three years and is depreciated over that period. The estimated useful life of each asset category is summarized as follows:
Estimated Useful Life
Office equipment
3 - 5 years
Phone hardware
3 years
Payment terminals
3 years
Office furniture
7 years
Leasehold improvementsShorter of remaining lease term or estimated life
When property and equipment is retired or otherwise disposed of, the net book value of the asset is removed from the respective accounts and any gain or loss is included in other income, net in the consolidated statements of operations and comprehensive loss.
Capitalized Software Costs
The Company capitalizes certain costs in connection with implementing or developing software for internal use and as part of its platform, which are subject to ASC 350-40, Internal Use Software. Amortization of such costs begins when the implementation or development of the project is substantially complete and the software is ready for its intended use. Costs related to preliminary project activities and post implementation activities are expensed as incurred. Capitalized software is stated at cost less accumulated amortization and amortized on a straight-line basis over its estimated period of expected benefit, which is three years. Amortization expense associated with these costs is reported in the cost of revenue line item on the consolidated statements of operations and comprehensive loss.
Capitalized Cloud Computing Costs
The Company capitalizes certain costs incurred to implement cloud computing arrangements that are service contracts. Amortization of such costs begins when the implementation of the arrangement is substantially complete and the software is ready for its intended use. Capitalized implementation costs are amortized on a straight-line basis over the expected term of the hosting arrangement, which includes consideration of the non-cancellable contractual term and reasonably certain renewals. Costs incurred during the preliminary project or the post-implementation and operation stages of the project are expensed as incurred. Implementation costs are included in other assets on the consolidated balance sheets. Amortization of capitalized implementation costs is included in the same line item in the consolidated statements of operations and comprehensive loss as the expense for fees for the associated with the hosting arrangement.
Leases
At the inception of a contract, the Company determines whether the contract is or contains a lease. Lease classification is evaluated by the Company at lease commencement and when significant amendments are executed. For those leases which contain a readily determinable implicit rate, the implicit rate is used to discount lease payments. For those leases which do not provide a readily determinable implicit rate, the Company estimates the incremental borrowing rate to discount lease payments based on information available at lease commencement. The lease term consists of the noncancellable period of the lease and periods covered by options to extend the lease if the Company is reasonably certain to exercise the option. For leases of 12 months or less, the Company expenses lease payments on a straight-line basis over the lease term.
For all operating leases with a term greater than 12 months, the Company recognizes a right-of-use asset and a lease liability at the lease commencement date based on the estimated present value of future minimum lease payments, which includes certain lease and non-lease components, over the lease term. Operating lease right-of-use assets and operating lease liabilities are disclosed separately on the consolidated balance sheets.
Finance leases are initially recorded at the net present value of future minimum lease payments, which includes certain lease and non-lease components. Finance leases generally have one of these five attributes: 1) ownership of the underlying asset transfers to the Company at the end of the lease term, 2) the lease agreement contains a purchase option that the Company is reasonably certain to exercise, 3) the lease term represents the major part of the asset’s economic life, 4) the present value of lease payments over the lease term equals or exceeds substantially all of the fair value of the asset, and 5) the underlying asset is so specialized in nature that it provides no alternative use to the lessor after the lease term. Finance lease right-of-use assets and finance lease liabilities are disclosed separately on the consolidated balance sheets. As discussed in the Leases footnote below, the Company’s finance lease arrangements are related to phone hardware, and, as such, the Company depreciates the related finance lease right-of-use assets consistent with the phone hardware useful life policy presented in the table above, which is three years.
Deferred Contract Costs
In accordance with ASC 340, Other Assets and Deferred Costs, the Company capitalizes incremental costs of obtaining and fulfilling a contract with a customer, provided the Company expects to recover those costs. The capitalized amounts mainly consist of sales commissions paid to the Company’s direct sales force. Capitalized costs also include:
•Commissions to sales management for achieving incremental sales quota;
•The associated payroll taxes and fringe benefit costs associated with the payments to the Company’s employees;
•One time commissions paid to partners; and
•One time registration fees assessed by mobile carriers.
These costs are recorded as deferred contract costs, net on the consolidated balance sheets. Amortization of deferred contract costs related to commissions, and the associated taxes and fringe benefit costs, are included in sales and marketing expense in the consolidated statements of operations and comprehensive loss. Deferred contract costs related to one-time registration fees paid to mobile carriers are included in cost of revenue in the consolidated statements of operations and comprehensive loss. These costs are amortized on a straight-line basis over the average period of consumer benefit, which is three years. In arriving at this average period of benefit, the Company evaluated both qualitative and quantitative factors which included the anticipated customer life, historical customer life, and the useful life of the Company’s product offerings.
Monthly commensurate revenue share fees paid to partners are expensed as incurred as their estimated period of benefit does not extend beyond twelve months and, therefore, fall under the practical expedient which allows these costs to be expensed as incurred.
Business Combinations
The Company accounts for acquisitions in accordance with the guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, Business Combinations, using the acquisition method of accounting. The Company allocates the purchase price consideration associated with its acquisition to the fair values of assets acquired and liabilities assumed at their respective acquisition dates, with the excess recorded to goodwill. The allocation involves a number of assumptions, estimates, and judgments in determining fair value of the following:
•Intangible assets, including valuation methodology, estimations of future cash flows, discount rates, market segment growth rates, and the Company’s assumed market share, as well as the estimated useful life of intangible assets;
•Deferred tax assets and liabilities, uncertain tax positions, and tax-related valuation allowances, which are initially estimated as of the acquisition date; and
•Goodwill as measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and liabilities assumed.
The Company’s assumptions and estimates are based upon comparable market data and information obtained from Company management and the management of the acquired companies. These assumptions and estimates are used to value assets acquired and liabilities assumed, and to allocate goodwill to the reporting units of the business that are expected to benefit from the business combination. Adjustments to the fair values of assets acquired and liabilities assumed may be recorded during the measurement period, which may be up to one year from the acquisition date, with the corresponding offset to goodwill. The Company may engage a valuation specialist to assist in the fair value measurement of assets acquired and liabilities assumed for each acquisition.
Intangible Assets
Acquired finite-lived intangible assets are amortized on a straight-line basis over the estimated useful life of the asset, which ranges from five to seven years.
Goodwill
Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. Goodwill is not subject to amortization, but is tested annually for impairment within the Company’s fourth fiscal quarter using an October 1 measurement date or more frequently if there are indicators of impairment. The Company first performs a qualitative assessment to determine if it is more likely than not that its reporting unit’s carrying amount exceeds its fair value, referred to as a “step zero” approach. If, based on the review of the qualitative factors, the Company determines that it is not more likely than not that the fair value of its reporting unit is less than its carrying value, the Company would bypass the quantitative impairment test. Management considers the following potential indicators of impairment: (1) significant underperformance relative to historical or projected future operating results; (2) significant changes in the Company’s use of acquired assets or the strategy of its overall business; (3) significant negative industry or economic trends; and (4) a significant decline in the Company’s stock price for a sustained period.
If the qualitative assessment is not conclusive, or if the Company elects to bypass the qualitative test, the Company quantitatively assesses the fair value of a reporting unit to test goodwill for impairment. The Company assesses the fair value of a reporting unit using a combination of discounted cash flow modeling and observable valuation multiples for comparable companies. The Company’s estimates are
developed using assumptions that the Company believes are consistent with how a market participant would value its reporting units. If the carrying amount of a reporting unit exceeds the reporting unit’s fair value, the Company records the excess amount as goodwill impairment, not to exceed the total amount of goodwill allocated to the reporting unit.
Weave operates under one reporting unit and, as a result, evaluates goodwill impairment based on its fair value as a whole. The Company did not recognize an impairment charge in any of the periods presented. The Company has no other intangible assets with indefinite useful lives.
Impairment of Long-Lived Assets
The Company’s long-lived assets consist of property and equipment, capitalized software costs, intangible assets, leases and deferred contract costs. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability of assets to be held and used is measured by comparison of the carrying amount of an asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If the carrying amount of an asset group exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset group exceeds the fair value of the asset group. Significant management judgment is required in determining the estimated undiscounted future cash flows expected to be generated by the asset group and the fair value of long-lived assets for impairment purposes. No events or changes in circumstances were identified and no impairment has been recognized for the years ended December 31, 2025, 2024, and 2023.
Advertising Expense
Advertising costs are expensed as incurred. The Company recorded advertising expense of $17.2 million, $11.8 million, and $8.3 million for the years ended December 31, 2025, 2024, and 2023, respectively. Advertising costs are included in sales and marketing expenses in the consolidated statements of operations and comprehensive loss.
Research and Development
Research and development expenses include software development costs that are not eligible for capitalization and support the Company’s efforts to ensure the reliability, availability and scalability of the Company’s products. The Company’s cloud platform is software-driven, and its research and development teams employ software engineers in the continuous testing, certification and support of the Company’s products. Accordingly, the majority of the Company’s research and development expenses result from employee-related costs, including salaries, bonuses, benefits and costs associated with technology tools used by the Company’s engineers.
Stock-Based Compensation
Stock-based compensation expense resulting from stock options is measured at the grant date fair value of the award and is calculated using the Black-Scholes option pricing model. This compensation expense is recognized using the straight-line attribution method over the requisite service period. The Company accounts for forfeitures as they occur. See Note 14 for further detail on the judgments and assumptions used to calculate stock-based compensation expense.
The Company records stock-based compensation expense from RSUs based on the grant date fair value of the awards and recognizes the fair value of those awards as expense using the straight-line method over the requisite service period of the award.
Stock-based compensation expense related to purchase rights issued under the Employee Stock Purchase Plan (“ESPP”) is based on the Black-Scholes option-pricing model fair value of the estimated number of awards to be purchased as of the beginning of the offering period. Stock-based compensation expense is recognized using the straight-line method over the offering period.
Income Taxes
The Company records a provision for income taxes for the anticipated tax of its reported results of operations using the asset and liability method. Under this method, deferred income taxes are recognized by applying the enacted tax rates expected to be in effect in future years to the differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as net operating losses and tax credit carryforwards. The measurement of deferred tax assets is reduced by a valuation allowance when it is more likely than not that some portion of the deferred tax assets will not be realized.
The Company does not recognize certain tax benefits from uncertain tax positions within the provision for income taxes. A tax benefit is recognized only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. For such positions, the largest benefit that has a greater than 50% likelihood of being realized upon settlement is recognized in the consolidated financial statements. Where applicable, interest and penalties are recognized in the provision for income taxes on the consolidated statement of operations and comprehensive loss.
Net Loss Per Share
Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period.
Diluted net loss per share is computed using the weighted-average number of shares of common stock plus the effect of potentially dilutive common shares outstanding during the period using the treasury stock method unless their effect is antidilutive. See Note 15 for a listing of potentially dilutive common shares outstanding as of December 31, 2025, 2024, and 2023.
Accounting Pronouncements Pending Adoption
In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which requires the disclosure of specific categories in the rate reconciliation and greater disaggregation for income taxes paid. ASU 2023-09 will be effective for annual periods beginning after December 15, 2025 and should be adopted prospectively with the option to be adopted retrospectively. The Company is currently evaluating the impact of ASU 2023-09 on its related disclosures.
In November 2024, the FASB issued ASU No. 2024-03, “Income Statement (Topic 220): Disaggregation of Income Statement Expenses” (“ASU 2024-03”), which requires additional disclosures of certain amounts included in the expense captions presented on the Statement of Operations as well as disclosures about selling expenses. The ASU is effective on a prospective basis, with the option for retrospective application, for annual periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, and early adoption is permitted. The Company is currently evaluating the impacts of adopting this guidance on its financial statement disclosures and statements of operations and comprehensive loss.
In July 2025, the FASB issued ASU No. 2025-05, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets” (“ASU 2025-05”), which provides a practical expedient when estimating expected credit losses on current accounts receivable and current contract assets. ASU 2025-05 will be effective for annual periods beginning after December 15, 2025 and should be adopted prospectively. The Company has evaluated the impact of ASU 2025-05 on its related disclosures, statements of operations and comprehensive loss, and balance sheets noting no material impact.
In September 2025, the FASB issued ASU No. 2025-06, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use
Software” (“ASU 2025-06”), which updates the criteria for capitalization of internal-use software and the associated required disclosures. ASU 2025-06 will be effective for annual periods beginning after December 15, 2027 and should be adopted prospectively with the option to be adopted retrospectively. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-06 on its related disclosures, statements of operations and comprehensive loss, and balance sheets.
In December 2025, the FASB issued ASU No. 2025-11, “Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies interim disclosure requirements and the applicability of Topic 270. ASU 2025-11 will be effective for interim reporting periods within annual reporting periods beginning after December 15, 2027 and can be applied either prospectively or retrospectively. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-11 on its interim reporting.
As an “emerging growth company,” the Jumpstart Our Business Startups Act (the “JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use the adoption dates applicable to private companies. As a result, the Company’s consolidated financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective date for new or revised accounting standards that are applicable to public companies. Beginning on December 31, 2026, the Company will no longer qualify for emerging growth company status; as such, future accounting pronouncements will be adopted in accordance with the adoption dates applicable to public companies.
v3.25.4
Business Combinations
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combinations Business Combinations
On May 16, 2025, Weave acquired all outstanding shares of Vidurama, Inc. (“TrueLark”), an AI-    powered receptionist and front-desk automation platform provider for total consideration of $35.9 million. Total consideration includes $2.3 million which was held back for indemnification and working capital purposes; of this amount, $0.5 million cash was held back for a period of 90 days following the acquisition for working capital adjustments. The total obligation owed after the 90-day holdback period has been paid as of December 31, 2025. $1.6 million will be held back for a 12-month indemnification period, comprised of $0.5 million of the Company’s common stock, or 49,967 shares, and $1.1 million cash. These shares of common stock are considered outstanding for the purposes of calculating earnings per share (see Note 15) and the value of the shares is included in additional paid-in capital on the consolidated balance sheets. The Company is entitled to retain $0.2 million of the remaining cash holdback for a period of six years in order to resolve all indemnification claims made during the allowable time period. The acquisition did not have a material effect on the Company’s revenue or earnings in the consolidated statements of operations and comprehensive loss for the reporting periods presented, nor would the presentation of combined financial results on a pro-forma basis for the prior two years be material. The Company accounted for the acquisition as a business combination. The following table summarizes the amount of the aggregate purchase consideration and the allocation to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values.
The allocation of the purchase price was as follows (in thousands):
Consideration transferred
Cash paid$23,549 
Equity issued10,041 
Holdback amount2,325 
Total purchase consideration$35,915 
Identifiable assets acquired
Cash231 
Accounts receivable107 
Prepaid expenses and other assets597 
Intangible assets: developed technology4,300 
Intangible assets: customer relationships2,300 
Intangible assets: trademarks and trade names1,400 
Total assets acquired$8,935 
Liabilities assumed
Accounts payable and accrued liabilities2,333 
Deferred revenue152 
Total liabilities assumed2,485 
Goodwill29,465 
Total purchase consideration$35,915 
The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill for an amount of $29.5 million as of December 31, 2025. The goodwill generated from the transaction is attributable to the expected synergies to be achieved upon consummation of the business combination and the assembled workforce value. No amount of goodwill is expected to be deductible for tax purposes. The fair values assigned to tangible and identifiable intangible assets acquired and liabilities assumed are based on management’s estimates and assumptions using
the income approach. Customer relationships were valued under the multi-period excess earnings method, which assumes that the value of intangible assets is equal to the present value of the incremental after-tax cash flows attributable specifically to the intangible assets. Developed technology and trademarks and trade names were valued under the relief from royalty method, which assumes value to the extent that the acquired company is relieved of the obligation to pay royalties for the benefits received from them.
Developed technology represents the estimated fair value of the acquired existing technology and is being amortized over its estimated useful life of five years. Amortization of developed technology is included in cost of goods sold in the accompanying consolidated statements of operations and comprehensive loss. Customer relationships represent the estimated fair value of the acquired customer bases and are amortized over an estimated useful life of seven years. The trade names acquired are amortized over its estimated useful life of seven years. Amortization of customer relationships and trade names is included in sales and marketing expenses in the accompanying consolidated statements of operations and comprehensive loss.
Pursuant to the definitive agreement for the business combination, certain key TrueLark employees were granted performance-based restricted stock unit awards (“PRSUs”) that will vest upon TrueLark’s achievement of certain revenue milestones in the first and second twelve-month periods following the acquisition, subject to the recipients’ continued employment with the Company through such dates. The recipients of these awards are eligible to receive two potential payouts of up to $5.0 million each, settled in up to 1,000,000 shares of the Company’s common stock, on each of the last days of the month following the first and second anniversaries of the merger. Because these payouts are dependent on continued employment with the Company in the post-acquisition period, the Company determined that the related cost must be recognized as an operating expense in the post-acquisition period, and no portion was accounted for as part of the purchase consideration. These awards are deemed to be liability-classified awards. As of December 31, 2025, the service-based vesting requirements for both potential payouts associated with the PRSUs were not met and the previously recognized stock-based compensation expense of $2.7 million was reversed, along with the associated liability of the same amount within other long-term liabilities related to this agreement.
v3.25.4
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill activity was as follows (in thousands):
Total
Balance as of December 31, 2024
$— 
Additions (Note 3)29,465 
Balance as of December 31, 2025
$29,465 
Intangible Assets consisted of the following (in thousands):
Weighted-Average December 31, 2025
Remaining Useful LifeAccumulated
GrossAmortizationNet
Trademarks and Trade Names76 months$1,400 $(125)$1,275 
Developed Technology52 months4,300 (535)3,765 
Customer Relationships76 months2,300 (206)2,094 
Total$8,000 $(866)$7,134 
Amortization expense for intangible assets was $0.9 million for the year ended December 31, 2025. The Company did not own definite-lived intangible assets prior to 2025.
Based on the recorded intangible assets at December 31, 2025, estimated future amortization expense is expected to be as follows (in thousands):
Amortization
Years Ending December 31,Expense
20261,381 
20271,381 
20281,381 
20291,381 
2030881 
Thereafter729 
Total$7,134 
v3.25.4
Revenue
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts With Customers for all periods presented. See Note 2 for a description of the Company’s revenue recognition accounting policy.
Contract Balances
For the years ended December 31, 2025, 2024, and 2023, the Company recognized revenue of $39.4 million, $38.9 million and $34.1 million, respectively, that was included in the corresponding deferred revenue balance at the beginning of each respective period.
Deferred Contract Costs
The following table summarizes the activity of deferred contract costs (in thousands):
Year Ended December 31,
202520242023
Beginning balance$21,055 $19,169 $18,027 
Capitalization of contract costs18,252 15,304 13,313 
Amortization of deferred contract costs(14,835)(13,418)(12,171)
Ending balance$24,472 $21,055 $19,169 
Performance Obligations
Performance obligations promised in a contract are based on the services and products that will be transferred to the customer. They must be capable of being distinct and separately identifiable from other promises in the contract. The Company’s performance obligations consist of the following:
•Software services;
•Cloud-based phone services;
•Payment services;
•Onboarding and installation services (pre-configured applications and phone hardware); and
•Phone hardware.
Disaggregation of Revenues
Revenue has been disaggregated into recurring and onboarding categories to identify revenue that are one-time in nature from those that are term-based and renewable.
The table below outlines revenue for the Company’s recurring subscription (software and phone services) and payment processing services, as well as for its onboarding services, and phone hardware for the years ended December 31, 2025, 2024, and 2023 (in thousands):
Year Ended December 31,
202520242023
Subscription and payment processing$228,769 $196,106 $162,715 
Phone Hardware (embedded lease)
6,792 4,661 4,521 
  Total recurring revenue
235,561 200,767 167,236 
Onboarding3,463 3,547 3,232 
  Total onboarding revenue
3,463 3,547 3,232 
Total revenue$239,024 $204,314 $170,468 
v3.25.4
Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Financial instruments recorded at fair value in the consolidated financial statements are categorized as follows:
•Level 1: Observable inputs that reflect quoted prices for identical assets or liabilities in active markets.
•Level 2: Observable inputs, other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
•Level 3: Unobservable inputs reflecting management's assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.
The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy for the year ended December 31, 2025 (in thousands):
Level 1Level 2Level 3Total
Cash equivalents
Money market funds$35,785 $— $— $35,785 
Short-term investments
US government and agency securities17,129 — 17,129 
Commercial paper— 9,632 — 9,632 
Total$52,914 $9,632 $— $62,546 
The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy for the year ended December 31, 2024 (in thousands):
Level 1Level 2Level 3Total
Cash equivalents
Money market funds$31,708 $— $— $31,708 
Short-term investments
US government and agency securities32,323 — 32,323 
Commercial paper— 15,211 — 15,211 
Total$64,031 $15,211 $— $79,242 
There were no transfers of financial assets or liabilities into or out of Level 3 during the years ended December 31, 2025 or 2024.
The following table summarizes the Company's short-term investments on the consolidated balance sheets as of December 31, 2025 (in thousands):
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term investments
US government and agency securities$17,122 $7 $— $17,129 
Commercial paper9,632 1 (1)9,632 
Total$26,754 $8 $(1)$26,761 
The following table summarizes the Company's short-term investments on the consolidated balance sheets as of December 31, 2024 (in thousands):
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term investments
US government and agency securities$32,309 $23 $(9)$32,323 
Commercial paper15,203 8 — 15,211 
Total$47,512 $31 $(9)$47,534 
The following table summarizes the Company’s cash and cash equivalents on the consolidated balance sheets as of December 31, 2025 (in thousands):
December 31, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Cash$19,174 $— $— $19,174 
Cash equivalents
Money market funds 35,785 — — 35,785 
Total$54,959 $— $— $54,959 
The following table summarizes the Company’s cash and cash equivalents on the consolidated balance sheets as of December 31, 2024 (in thousands):
December 31, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Cash$19,888 $— $— $19,888 
Cash equivalents
Money market funds 31,708 — — 31,708 
Total$51,596 $— $— $51,596 
As of December 31, 2025, the weighted-average remaining contractual maturities of available-for-sale securities was approximately four months.
No available for sale securities held as of December 31, 2025 have been in a continuous unrealized loss position for more than 12 months. As of December 31, 2025, unrealized losses on available for sale securities are not attributed to credit risk and are considered temporary. The Company believes it is more likely than not that investments in an unrealized loss position will be held until maturity or the cost basis of the investment will be recovered. The Company believes it has no other-than-temporary impairments on its securities as it does not intend to sell these securities and does not believe it is more likely than not that it will be required to sell these securities before the recovery of their amortized cost basis. To date, the Company has not recorded any impairment charges on securities related to other-than-temporary declines in fair value. The Company’s cash equivalents and short-term investments are scheduled to mature within one year from the balance sheet date.
For the years ended December 31, 2025, 2024, and 2023, both unrealized holding gains and losses are immaterial and the resulting net unrealized holding gains and losses have been included in accumulated other comprehensive loss.
As of December 31, 2025 and 2024, the Company had no outstanding debt. The carrying amounts of certain financial instruments, including accounts receivable, accounts payable, and accrued liabilities approximate fair value due to their short-term maturities and are excluded from the fair value tables above.
Realized gains, consisting of discount accretion, for the years ended December 31, 2025 and 2024 and 2023 were $0.9 million, $2.1 million, and $2.7 million respectively which is included in other income, net on the consolidated statements of operations and comprehensive loss.
v3.25.4
Property and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consisted of the following for the periods presented (in thousands):
December 31, 2025December 31, 2024
Office equipment$3,501 $6,626 
Office furniture5,539 5,670 
Leasehold improvements3,039 2,763 
Capitalized internal-use software9,746 7,059 
Payment terminals2,523 2,308 
Property and equipment, gross24,348 24,426 
Less accumulated depreciation and amortization(15,136)(15,983)
Property and equipment, net$9,212 $8,443 
Depreciation and amortization expense on property and equipment (excluding amortization on operating right-of-use (“ROU”) assets) was $11.6 million, $11.5 million, and $12.0 million for the years
ended December 31, 2025, 2024, and 2023, respectively. Of this expense, $7.4 million, $7.1 million and $7.4 million was related to phone hardware finance ROU assets (see also Note 9) and data center equipment, and has been included in cost of revenue in the consolidated statements of operations and comprehensive loss for the years ended December 31, 2025, 2024 and 2023, respectively.
The carrying value of capitalized internal-use software consisted of the following (in thousands):
December 31, 2025December 31, 2024
Capitalized internal-use software$9,746 $7,059 
Less: accumulated amortization(5,854)(4,508)
Capitalized internal-use software, net$3,892 $2,551 
Capitalized internal-use software amortization expense was $1.3 million for the year ended December 31, 2025 and $1.2 million for each of the years ended December 31, 2024 and 2023, and has been included in the cost of revenue in the consolidated statements of operations and comprehensive loss. Capitalized software implementation amortization expense was $0.6 million, $0.3 million, and $0.1 million for the years ended December 31, 2025, 2024, and 2023, respectively, and has been included in operating expense in the consolidated statements of operations and comprehensive loss.
v3.25.4
Accrued and Other Current Liabilities
 12 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
Accrued and Other Current Liabilities Accrued and Other Current Liabilities
Accrued liabilities consisted of the following for the periods presented (in thousands):
December 31, 2025December 31, 2024
Payroll-related accruals$12,212 $11,353 
Accrued vendor and professional fees6,020 2,131 
Sales and telecom taxes3,975 2,451 
Employee stock purchase plan liability1,008 955 
Third-party commissions538 397 
Other4,166 351 
Total
$
27,919 
$
17,638 
v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
The Company has lease arrangements, both as a lessor and a lessee, and makes assumptions and judgments when assessing contracts for lease components, determining lease classifications, and calculating ROU asset and lease liability values. These assumptions and judgments may include the useful lives and fair values of the leased assets, the implicit rate underlying the Company’s leases, the Company’s incremental borrowing rate, or the Company’s intent to exercise or not exercise options available in lease contracts.
Lease expense and other information consisted of the following for the periods presented (in thousands, except lease terms and discount rates):
Year Ended December 31,
202520242023
Lease expense
Finance lease expense:
Amortization of right-of-use assets
$7,359 $7,096 $7,421 
Interest on lease liabilities
1,410 1,342 1,165 
Operating lease expense
5,632 
5,690 
5,690 
Short-term lease expense
46 
43 
18 
Variable lease expense
479 
301 
40 
Total lease expense
$
14,926 
$
14,472 
$
14,334 
Supplemental cash flow information
Finance leases:
Operating cash outflow from finance leases
$
1,410 
$
1,342 
$
1,165 
Financing cash outflow from finance leases
$
7,168 
$
7,060 
$
7,530 
Operating leases:
Operating cash outflow from operating leases
$
5,762 
$
5,721 
$
5,574 
Other information
Finance leases:
Weighted-average remaining lease term (years)
1.8
Weighted-average discount rate
10.8 
%
Operating leases:
Weighted-average remaining lease term (years)
7.1
Weighted-average discount rate
3.9 
%
Operating leases
The Company as the Lessee
The Company leases office space for its headquarters under a non-cancelable operating lease agreement which expires in January 2033. Though the Company will consider renewal options on its lease as it nears expiration, the Company has not recognized any renewal options as part of the current lease term as it is not reasonably certain that it will exercise its option as of December 31, 2025. The rate implicit in the Company’s operating lease is not readily determinable. Thus, the Company uses its incremental borrowing rate to discount lease payments to present value. The incremental borrowing rate is the rate incurred to borrow on a collateralized basis, and is based on the Company’s secured line of credit, which may be adjusted for the specific terms and collateral of the lease. The operating lease agreement does not contain any residual value guarantees or other restrictions or covenants that would cause the Company to incur additional significant financial obligations. The office space lease agreement contains non-lease components, which represent charges for common area maintenance, taxes and utilities. The Company has elected the practical expedient and does not separate lease components from non-lease components.
The Company has other leases for office space with terms less than twelve months from contract inception and no options to purchase the underlying asset. These agreements are accounted for as short-term leases in accordance with ASC Topic 842, Leases.
Total rent expense for office space leases was $5.6 million for the year ended December 31, 2025, and $5.5 million for each of the years ended December 31, 2024, and 2023, respectively, and is reported gross of sublease income received.
Future maturities of remaining lease payments included in the measurement of operating lease liabilities as of December 31, 2025 are as follows (in thousands):
Years ending December 31,
2026
$
6,083 
2027
6,009 
2028
6,139 
2029
6,292 
2030
6,450 
Thereafter
13,953 
Total
44,926 
Less: imputed interest
(5,714)
Present value of operating lease obligations
$
39,212 
The Company as the Lessor
The Company provides varying quantities of phone hardware to customers without adjustments to the base subscription price. The Company is deemed a lessor in these arrangements. In April 2023, the Company entered into a Sublease Agreement for the fourth floor of its corporate headquarters in Lehi, Utah. This agreement was renewed in October 2025 with a three-year lease term beginning in March 2026. Sublease income is included in other income (expense) on the consolidated statements of operations and comprehensive loss.
The Company reported revenues associated with these leases for the periods presented as follows (in thousands):
Year Ended December 31,
202520242023
Phone hardware revenue6,792 4,662 4,521 
Sublease income
877 877 658 
Total$7,669 $5,539 $5,179 
Finance leases
The Company is the lessee in all of its finance lease arrangements. In June 2016, the Company began financing its purchases of phone hardware through lease agreements classified as finance leases. As of December 31, 2025 the Company had 90 executed and active lease agreements for phone hardware. These agreements have maturity dates ranging from January 2026 to December 2028. As of December 31, 2025, the gross value of phone hardware acquired under these capital leases approximated $21.4 million. Amortization expense on finance-leased phone hardware was $7.4 million, $7.1 million, and $7.4 million for the years ended December 31, 2025, 2024, and 2023, respectively, which is included in depreciation expense on the consolidated statements of operations and comprehensive loss as referenced in Note 7.
Future minimum lease payments for the Company’s finance leases as of December 31, 2025 were as follows (in thousands):
Years ending December 31,
2026
$
7,697 
2027
4,697 
2028
2,062 
2029
— 
2030
— 
Thereafter
— 
Total
14,456 
Less: amounts representing interest
(1,516)
Present value of finance lease obligations
$
12,940 
Leases Leases
The Company has lease arrangements, both as a lessor and a lessee, and makes assumptions and judgments when assessing contracts for lease components, determining lease classifications, and calculating ROU asset and lease liability values. These assumptions and judgments may include the useful lives and fair values of the leased assets, the implicit rate underlying the Company’s leases, the Company’s incremental borrowing rate, or the Company’s intent to exercise or not exercise options available in lease contracts.
Lease expense and other information consisted of the following for the periods presented (in thousands, except lease terms and discount rates):
Year Ended December 31,
202520242023
Lease expense
Finance lease expense:
Amortization of right-of-use assets
$7,359 $7,096 $7,421 
Interest on lease liabilities
1,410 1,342 1,165 
Operating lease expense
5,632 
5,690 
5,690 
Short-term lease expense
46 
43 
18 
Variable lease expense
479 
301 
40 
Total lease expense
$
14,926 
$
14,472 
$
14,334 
Supplemental cash flow information
Finance leases:
Operating cash outflow from finance leases
$
1,410 
$
1,342 
$
1,165 
Financing cash outflow from finance leases
$
7,168 
$
7,060 
$
7,530 
Operating leases:
Operating cash outflow from operating leases
$
5,762 
$
5,721 
$
5,574 
Other information
Finance leases:
Weighted-average remaining lease term (years)
1.8
Weighted-average discount rate
10.8 
%
Operating leases:
Weighted-average remaining lease term (years)
7.1
Weighted-average discount rate
3.9 
%
Operating leases
The Company as the Lessee
The Company leases office space for its headquarters under a non-cancelable operating lease agreement which expires in January 2033. Though the Company will consider renewal options on its lease as it nears expiration, the Company has not recognized any renewal options as part of the current lease term as it is not reasonably certain that it will exercise its option as of December 31, 2025. The rate implicit in the Company’s operating lease is not readily determinable. Thus, the Company uses its incremental borrowing rate to discount lease payments to present value. The incremental borrowing rate is the rate incurred to borrow on a collateralized basis, and is based on the Company’s secured line of credit, which may be adjusted for the specific terms and collateral of the lease. The operating lease agreement does not contain any residual value guarantees or other restrictions or covenants that would cause the Company to incur additional significant financial obligations. The office space lease agreement contains non-lease components, which represent charges for common area maintenance, taxes and utilities. The Company has elected the practical expedient and does not separate lease components from non-lease components.
The Company has other leases for office space with terms less than twelve months from contract inception and no options to purchase the underlying asset. These agreements are accounted for as short-term leases in accordance with ASC Topic 842, Leases.
Total rent expense for office space leases was $5.6 million for the year ended December 31, 2025, and $5.5 million for each of the years ended December 31, 2024, and 2023, respectively, and is reported gross of sublease income received.
Future maturities of remaining lease payments included in the measurement of operating lease liabilities as of December 31, 2025 are as follows (in thousands):
Years ending December 31,
2026
$
6,083 
2027
6,009 
2028
6,139 
2029
6,292 
2030
6,450 
Thereafter
13,953 
Total
44,926 
Less: imputed interest
(5,714)
Present value of operating lease obligations
$
39,212 
The Company as the Lessor
The Company provides varying quantities of phone hardware to customers without adjustments to the base subscription price. The Company is deemed a lessor in these arrangements. In April 2023, the Company entered into a Sublease Agreement for the fourth floor of its corporate headquarters in Lehi, Utah. This agreement was renewed in October 2025 with a three-year lease term beginning in March 2026. Sublease income is included in other income (expense) on the consolidated statements of operations and comprehensive loss.
The Company reported revenues associated with these leases for the periods presented as follows (in thousands):
Year Ended December 31,
202520242023
Phone hardware revenue6,792 4,662 4,521 
Sublease income
877 877 658 
Total$7,669 $5,539 $5,179 
Finance leases
The Company is the lessee in all of its finance lease arrangements. In June 2016, the Company began financing its purchases of phone hardware through lease agreements classified as finance leases. As of December 31, 2025 the Company had 90 executed and active lease agreements for phone hardware. These agreements have maturity dates ranging from January 2026 to December 2028. As of December 31, 2025, the gross value of phone hardware acquired under these capital leases approximated $21.4 million. Amortization expense on finance-leased phone hardware was $7.4 million, $7.1 million, and $7.4 million for the years ended December 31, 2025, 2024, and 2023, respectively, which is included in depreciation expense on the consolidated statements of operations and comprehensive loss as referenced in Note 7.
Future minimum lease payments for the Company’s finance leases as of December 31, 2025 were as follows (in thousands):
Years ending December 31,
2026
$
7,697 
2027
4,697 
2028
2,062 
2029
— 
2030
— 
Thereafter
— 
Total
14,456 
Less: amounts representing interest
(1,516)
Present value of finance lease obligations
$
12,940 
Leases Leases
The Company has lease arrangements, both as a lessor and a lessee, and makes assumptions and judgments when assessing contracts for lease components, determining lease classifications, and calculating ROU asset and lease liability values. These assumptions and judgments may include the useful lives and fair values of the leased assets, the implicit rate underlying the Company’s leases, the Company’s incremental borrowing rate, or the Company’s intent to exercise or not exercise options available in lease contracts.
Lease expense and other information consisted of the following for the periods presented (in thousands, except lease terms and discount rates):
Year Ended December 31,
202520242023
Lease expense
Finance lease expense:
Amortization of right-of-use assets
$7,359 $7,096 $7,421 
Interest on lease liabilities
1,410 1,342 1,165 
Operating lease expense
5,632 
5,690 
5,690 
Short-term lease expense
46 
43 
18 
Variable lease expense
479 
301 
40 
Total lease expense
$
14,926 
$
14,472 
$
14,334 
Supplemental cash flow information
Finance leases:
Operating cash outflow from finance leases
$
1,410 
$
1,342 
$
1,165 
Financing cash outflow from finance leases
$
7,168 
$
7,060 
$
7,530 
Operating leases:
Operating cash outflow from operating leases
$
5,762 
$
5,721 
$
5,574 
Other information
Finance leases:
Weighted-average remaining lease term (years)
1.8
Weighted-average discount rate
10.8 
%
Operating leases:
Weighted-average remaining lease term (years)
7.1
Weighted-average discount rate
3.9 
%
Operating leases
The Company as the Lessee
The Company leases office space for its headquarters under a non-cancelable operating lease agreement which expires in January 2033. Though the Company will consider renewal options on its lease as it nears expiration, the Company has not recognized any renewal options as part of the current lease term as it is not reasonably certain that it will exercise its option as of December 31, 2025. The rate implicit in the Company’s operating lease is not readily determinable. Thus, the Company uses its incremental borrowing rate to discount lease payments to present value. The incremental borrowing rate is the rate incurred to borrow on a collateralized basis, and is based on the Company’s secured line of credit, which may be adjusted for the specific terms and collateral of the lease. The operating lease agreement does not contain any residual value guarantees or other restrictions or covenants that would cause the Company to incur additional significant financial obligations. The office space lease agreement contains non-lease components, which represent charges for common area maintenance, taxes and utilities. The Company has elected the practical expedient and does not separate lease components from non-lease components.
The Company has other leases for office space with terms less than twelve months from contract inception and no options to purchase the underlying asset. These agreements are accounted for as short-term leases in accordance with ASC Topic 842, Leases.
Total rent expense for office space leases was $5.6 million for the year ended December 31, 2025, and $5.5 million for each of the years ended December 31, 2024, and 2023, respectively, and is reported gross of sublease income received.
Future maturities of remaining lease payments included in the measurement of operating lease liabilities as of December 31, 2025 are as follows (in thousands):
Years ending December 31,
2026
$
6,083 
2027
6,009 
2028
6,139 
2029
6,292 
2030
6,450 
Thereafter
13,953 
Total
44,926 
Less: imputed interest
(5,714)
Present value of operating lease obligations
$
39,212 
The Company as the Lessor
The Company provides varying quantities of phone hardware to customers without adjustments to the base subscription price. The Company is deemed a lessor in these arrangements. In April 2023, the Company entered into a Sublease Agreement for the fourth floor of its corporate headquarters in Lehi, Utah. This agreement was renewed in October 2025 with a three-year lease term beginning in March 2026. Sublease income is included in other income (expense) on the consolidated statements of operations and comprehensive loss.
The Company reported revenues associated with these leases for the periods presented as follows (in thousands):
Year Ended December 31,
202520242023
Phone hardware revenue6,792 4,662 4,521 
Sublease income
877 877 658 
Total$7,669 $5,539 $5,179 
Finance leases
The Company is the lessee in all of its finance lease arrangements. In June 2016, the Company began financing its purchases of phone hardware through lease agreements classified as finance leases. As of December 31, 2025 the Company had 90 executed and active lease agreements for phone hardware. These agreements have maturity dates ranging from January 2026 to December 2028. As of December 31, 2025, the gross value of phone hardware acquired under these capital leases approximated $21.4 million. Amortization expense on finance-leased phone hardware was $7.4 million, $7.1 million, and $7.4 million for the years ended December 31, 2025, 2024, and 2023, respectively, which is included in depreciation expense on the consolidated statements of operations and comprehensive loss as referenced in Note 7.
Future minimum lease payments for the Company’s finance leases as of December 31, 2025 were as follows (in thousands):
Years ending December 31,
2026
$
7,697 
2027
4,697 
2028
2,062 
2029
— 
2030
— 
Thereafter
— 
Total
14,456 
Less: amounts representing interest
(1,516)
Present value of finance lease obligations
$
12,940 
Leases Leases
The Company has lease arrangements, both as a lessor and a lessee, and makes assumptions and judgments when assessing contracts for lease components, determining lease classifications, and calculating ROU asset and lease liability values. These assumptions and judgments may include the useful lives and fair values of the leased assets, the implicit rate underlying the Company’s leases, the Company’s incremental borrowing rate, or the Company’s intent to exercise or not exercise options available in lease contracts.
Lease expense and other information consisted of the following for the periods presented (in thousands, except lease terms and discount rates):
Year Ended December 31,
202520242023
Lease expense
Finance lease expense:
Amortization of right-of-use assets
$7,359 $7,096 $7,421 
Interest on lease liabilities
1,410 1,342 1,165 
Operating lease expense
5,632 
5,690 
5,690 
Short-term lease expense
46 
43 
18 
Variable lease expense
479 
301 
40 
Total lease expense
$
14,926 
$
14,472 
$
14,334 
Supplemental cash flow information
Finance leases:
Operating cash outflow from finance leases
$
1,410 
$
1,342 
$
1,165 
Financing cash outflow from finance leases
$
7,168 
$
7,060 
$
7,530 
Operating leases:
Operating cash outflow from operating leases
$
5,762 
$
5,721 
$
5,574 
Other information
Finance leases:
Weighted-average remaining lease term (years)
1.8
Weighted-average discount rate
10.8 
%
Operating leases:
Weighted-average remaining lease term (years)
7.1
Weighted-average discount rate
3.9 
%
Operating leases
The Company as the Lessee
The Company leases office space for its headquarters under a non-cancelable operating lease agreement which expires in January 2033. Though the Company will consider renewal options on its lease as it nears expiration, the Company has not recognized any renewal options as part of the current lease term as it is not reasonably certain that it will exercise its option as of December 31, 2025. The rate implicit in the Company’s operating lease is not readily determinable. Thus, the Company uses its incremental borrowing rate to discount lease payments to present value. The incremental borrowing rate is the rate incurred to borrow on a collateralized basis, and is based on the Company’s secured line of credit, which may be adjusted for the specific terms and collateral of the lease. The operating lease agreement does not contain any residual value guarantees or other restrictions or covenants that would cause the Company to incur additional significant financial obligations. The office space lease agreement contains non-lease components, which represent charges for common area maintenance, taxes and utilities. The Company has elected the practical expedient and does not separate lease components from non-lease components.
The Company has other leases for office space with terms less than twelve months from contract inception and no options to purchase the underlying asset. These agreements are accounted for as short-term leases in accordance with ASC Topic 842, Leases.
Total rent expense for office space leases was $5.6 million for the year ended December 31, 2025, and $5.5 million for each of the years ended December 31, 2024, and 2023, respectively, and is reported gross of sublease income received.
Future maturities of remaining lease payments included in the measurement of operating lease liabilities as of December 31, 2025 are as follows (in thousands):
Years ending December 31,
2026
$
6,083 
2027
6,009 
2028
6,139 
2029
6,292 
2030
6,450 
Thereafter
13,953 
Total
44,926 
Less: imputed interest
(5,714)
Present value of operating lease obligations
$
39,212 
The Company as the Lessor
The Company provides varying quantities of phone hardware to customers without adjustments to the base subscription price. The Company is deemed a lessor in these arrangements. In April 2023, the Company entered into a Sublease Agreement for the fourth floor of its corporate headquarters in Lehi, Utah. This agreement was renewed in October 2025 with a three-year lease term beginning in March 2026. Sublease income is included in other income (expense) on the consolidated statements of operations and comprehensive loss.
The Company reported revenues associated with these leases for the periods presented as follows (in thousands):
Year Ended December 31,
202520242023
Phone hardware revenue6,792 4,662 4,521 
Sublease income
877 877 658 
Total$7,669 $5,539 $5,179 
Finance leases
The Company is the lessee in all of its finance lease arrangements. In June 2016, the Company began financing its purchases of phone hardware through lease agreements classified as finance leases. As of December 31, 2025 the Company had 90 executed and active lease agreements for phone hardware. These agreements have maturity dates ranging from January 2026 to December 2028. As of December 31, 2025, the gross value of phone hardware acquired under these capital leases approximated $21.4 million. Amortization expense on finance-leased phone hardware was $7.4 million, $7.1 million, and $7.4 million for the years ended December 31, 2025, 2024, and 2023, respectively, which is included in depreciation expense on the consolidated statements of operations and comprehensive loss as referenced in Note 7.
Future minimum lease payments for the Company’s finance leases as of December 31, 2025 were as follows (in thousands):
Years ending December 31,
2026
$
7,697 
2027
4,697 
2028
2,062 
2029
— 
2030
— 
Thereafter
— 
Total
14,456 
Less: amounts representing interest
(1,516)
Present value of finance lease obligations
$
12,940 
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Loss before income taxes was as follows for the periods presented (in thousands):
Year Ended December 31,
202520242023
United States$(30,088)$(28,776)$(30,622)
Foreign1,112 619 (149)
Total$(28,976)$(28,157)$(30,771)
The components of the provision for (benefit from) income taxes were as follows for the periods presented (in thousands):
Year Ended December 31,
202520242023
Current
Federal$— $— $— 
State76 9 53 
Foreign343 226 247 
Deferred
Federal(1,233)— — 
State(46)— — 
Foreign(64)(46)(40)
Total$(924)$189 $260 
The income tax benefit for the year ended December 31, 2025 was primarily attributable to a partial release of the valuation allowance related to deferred tax liabilities recognized in connection with the Vidurama acquisition.
The following reconciles the differences between the federal statutory income tax rate in effect in each year to the Company’s effective tax rate for the periods presented:
Year Ended December 31,
202520242023
Statutory federal tax rate
21.00 
%
21.00 
%
21.00 
%
State tax, net of federal tax effect
1.75 
3.80 
2.70 
Stock-based compensation
13.97 %22.76 %7.54 %
Section 162(m)
(21.01)
(22.67)
(13.40)
Change in valuation allowance
(11.36)
(32.87)
(19.97)
Other
(1.16)
7.31 
1.29 
Effective tax rate
3.19 
%
(0.67)
%
(0.84)
%
The components of deferred tax assets and liabilities were as follows for the periods presented (in thousands):
Year Ended December 31,
20252024
Deferred tax assets:
Net operating losses$56,267 $51,550 
Sales and use tax reserves253 197 
Stock-based compensation
2,360 2,914 
Compensation related accruals1,889 1,307 
Interest expense limitations— 309 
Leases - Right-of-use liability
9,742 10,749 
Other571 327 
Fixed assets598 651 
Capitalized research expenses15,064 11,082 
Valuation allowance(70,195)(64,119)
Total deferred tax assets - net16,549 14,967 
Deferred tax liabilities:
Intangible assets(2,003)(367)
Leases - Right-of-use asset
(8,392)(9,360)
Deferred contract costs(5,978)(5,129)
Total deferred tax liabilities(16,373)(14,856)
Net deferred taxes assets$176 $111 
Activity of the deferred tax asset valuation allowance was as follows for the periods presented (in thousands):
Year Ended December 31,
202520242023
Balance at beginning of the year$64,119 $54,867 $48,723 
Charged to benefit or expense
6,076 9,252 6,144 
Balance at end of the year$70,195 $64,119 $54,867 
The Company evaluates the realizability of its deferred tax assets by considering all available positive and negative evidence, including historical operating results, projections of future taxable income, tax planning strategies and sources of future taxable income. Due to cumulative losses, the Company has recorded a valuation allowance against its domestic deferred tax assets as of December 31, 2025.
Deferred tax liabilities recognized in connection with the Vidurama acquisition were considered as a source of future taxable income in the Company’s valuation allowance assessment. Accordingly, the Company recorded a partial release of its valuation allowance related to these deferred tax liabilities. The Company continues to maintain a valuation allowance against its remaining domestic deferred tax assets. Net deferred tax assets are included in other non-current assets on the consolidated balance sheet.
As of December 31, 2025, the Company had U.S. federal and state net operating loss (“NOL”) carryforwards of approximately $227.5 million and $170.9 million, respectively. U.S. federal NOLs generated after 2017 and prior begin to expire in 2034. U.S. federal NOLs generated after 2017 may be carried forward indefinitely but are limited to utilization of 80% of taxable income in any given year. Of the total U.S. federal NOL carryforwards, approximately $195.6 million may be carried forward indefinitely. Certain state NOLs begin to expire in 2026. The realization of these NOLs is dependent upon the generation of sufficient taxable income prior to their expiration. In addition, utilization of the NOLs may be limited under Sections 382 and 383 of the Internal Revenue Code following an ownership change.
ASC 740-10 provides guidance for the recognition and measurement of uncertain tax positions. The Company had no unrecognized tax benefits at December 31, 2025 or 2024. The Company does not anticipate any significant changes in unrecognized tax benefits within the next 12 months.
The Company files income tax returns in the U.S. federal jurisdiction, various state jurisdictions, and foreign jurisdictions. U.S. federal tax years 2022 and forward remain subject to examination. Although tax years prior to 2022 are generally closed under the applicable statue of limitations, net operating loss carryforwards generated in those years may be subject to examination to the extent utilized in future periods. State and foreign tax years remain open beginning in 2022 and 2021, respectively, depending on jurisdiction.
On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted into law. The Company evaluated the impact of the legislation and determined that it did not have a material effect on the Company’s consolidated financial statements for the year ended December 31, 2025. The Company will continue to monitor and evaluate the effects of OBBBA on future reporting periods.
v3.25.4
Related Party Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Apart from director compensation, there were no related-party transactions during the years ended years ended December 31, 2025, 2024, and 2023.
v3.25.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Legal Matters
As of December 31, 2025 and through the issuance date of these consolidated financial statements, the Company is not involved in any legal proceedings that it believes could have a material adverse effect on its business, financial condition, results of operations, or liquidity.
Other Purchase Commitments
In the ordinary course of business the Company has entered into certain non-cancelable contractual commitments related to third-party cloud infrastructure agreements and subscription arrangements. Purchases made under commitments related to these services totaled $11.3 million and $1.6 million during the years ended December 31, 2025 and 2024. No purchases were made under commitments related to these services for the year ended December 31, 2023.
Future minimum payments on these non-cancelable contractual commitments as of December 31, 2025, are as follows (in thousands):
Years ending December 31,
2026$10,064 
202710,824 
20282,557 
202949 
2030— 
Thereafter— 
Total$23,494 
Indemnification
The Company enters into standard indemnification arrangements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with any trade secret, copyright, patent or other intellectual property infringement claims brought by any third-party against such indemnified party with respect to licensed technology. The term of these indemnification agreements is generally perpetual any time after the execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the future but have not yet been made. To date, the Company has not incurred costs to defend lawsuits or settle claims related to these indemnification agreements.
The Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the individual. No liability associated with such indemnifications has been recorded as of December 31, 2025.
v3.25.4
Debt
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Debt Debt
In August 2021, the Company established a revolving line of credit with Silicon Valley Bank, a division of First-Citizens Bank & Trust Company (“SVB”) allowing for total borrowing capacity up to $50.0 million, subject to reduction should the Company fail to meet certain metrics for recurring revenue and customer retention (the “August 2021 Agreement”). In July 2025, the Company amended the SVB revolving line of credit (the “July 2025 Amendment”). The line of credit, as amended, maintained a total borrowing capacity up to $50.0 million and matures in May 2027. Amounts outstanding on the revolving line of credit accrue interest at the greater of prime rate less 0.25% and 3.50%. The Company is required to pay a recurring annual fee of $0.1 million beginning in July 2026, on the anniversary of the effective date of the July 2025 Amendment. The revolving line of credit is collateralized by all of the Company’s assets. The July 2025 Amendment included setting earnings before interest, taxes, depreciation, and amortization, as adjusted for stock-based compensation expense and changes in its deferred revenue balances (“Adjusted EBITDA”) as the financial covenants of the Company for the 2025 fiscal year. The July 2025 Amendment includes financial covenants requiring that, at any time, if the Company’s total unrestricted cash and cash equivalents held at SVB plus the Company’s short-term investments managed by SVB is less than $100.0 million, the Company must at all times thereafter maintain a consolidated minimum liquidity of $20.0 million, meaning unencumbered cash and short-term investments plus available borrowing on the line of credit, and the Company must meet specified minimum levels of Adjusted EBITDA.
As of December 31, 2025, and 2024, there was no balance outstanding on the line of credit, and the maximum borrowing capacity of $50.0 million was available to the Company. The Company was in compliance with all debt covenants as of December 31, 2025 and 2024.
v3.25.4
Stockholders’ Equity
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Stockholders’ Equity Stockholders’ Equity
Stock-Based Compensation Expense
Stock-based compensation expense, consisting of service-based expense related to the equity incentive plans, including expense from stock options and restricted stock units, and the employee stock purchase plan, was classified as follows in the accompanying consolidated statements of operations and comprehensive loss for each of the periods presented (in thousands):
Year Ended December 31,
202520242023
Cost of revenue$894 $1,014 $971 
Sales and marketing7,510 6,582 4,233 
Research and development8,806 8,374 5,590 
General and administrative14,921 16,250 12,029 
Total$32,131 $32,220 $22,823 
Equity Incentive Plan
In November 2021, in connection with the Company’s initial public offering (“IPO”), the Company adopted the 2021 Equity Incentive Plan (the “2021 EIP”) under which the Company could issue stock options or restricted stock units (“RSUs”) as awards. In addition to shares remaining available for issuance under a prior plan and shares subject to awards under the prior plan that may return to the 2021 EIP, the Company reserved 9.0 million shares of common stock for future issuance under the 2021 EIP, with scheduled annual increases to the reserve for amounts to be determined by the board of directors of the Company (the “Board”), subject to a maximum amount. In the first fiscal quarters of 2025 and 2024, the Board reserved an additional 3.7 million and 3.5 million common shares, respectively, for future issuance under the 2021 EIP.
In March 2023, the Company adopted the 2022 Inducement Equity Incentive Plan (the “Inducement Plan”) and reserved an additional 7.0 million shares of common stock for future issuance.

Stock-based compensation expense related to the 2021 EIP and the Inducement Plan was $31.3 million, $31.4 million, and $22.1 million for the years ended December 31, 2025, 2024, and 2023, respectively.
Stock Options
The aggregate intrinsic value of stock options outstanding is outlined in the table below. The intrinsic value represents the excess of the estimated fair value of the Company's common stock on the date of exercise over the exercise price of each stock option.
Stock option activity was as follows for the year ended December 31, 2025:
Number of Stock Options
Weighted Average Exercise Price
Weighted Average Remaining Contractual Life (years)
Aggregate Intrinsic Value
(in thousands)
Outstanding as of December 31, 2024
1,461,110 
$
4.01 
4.54
$
17,408 
Exercisable as of December 31, 2024
1,400,993 
$
3.88 
4.46
$
16,866 
2025 Activity
Exercised
(228,134)
$
3.41 
Forfeited and expired
(4,609)
$
6.65 
Outstanding as of December 31, 2025
1,228,367 
$
4.10 
3.12
$
4,282 
Exercisable as of December 31, 2025
1,228,367 
$
4.10 
3.12
$
4,282 
The aggregate intrinsic value of stock options exercised for the years ended December 31, 2025, 2024, and 2023 was $1.6 million, $2.5 million, and $3.9 million, respectively. The aggregate intrinsic value represents the excess of the estimated fair value of the Company’s common stock on the date of exercise over the exercise price of each stock option. There was no unrecognized stock-based compensation expense related to outstanding stock options as of December 31, 2025.
The Company did not grant any stock options during the years ended December 31, 2025, 2024, and 2023.
Restricted Stock Units
RSUs granted under the 2021 EIP and the Inducement Plan vest and settle upon the satisfaction of a service-based condition. The service-based condition for these awards is generally satisfied over three years. As of December 31, 2025, a total of 43,747 RSUs are outstanding for awards that were issued to non-employee directors that have a three-year vesting schedule, with 33% vesting one year from the grant date and the remaining 67% vesting annually over the remaining two years. As of December 31, 2025, a total of 147,234 RSUs are outstanding that were issued to non-employee directors that have a one-year vesting schedule, with 100% vesting on the earlier of one year from the grant date or the annual meeting of stockholders. The remaining RSUs that have been issued have a three-year vesting schedule with 33% vesting one year from grant date and the remaining 67% vesting quarterly over the remaining two years.
RSU activity was as follows:
Number of SharesWeighted Average Grant Date Fair Value
Outstanding as of December 31, 20246,675,938 $8.93 
Granted4,991,790 9.18
Vested(4,116,763)8.13
Forfeited(1,452,886)10.00
Outstanding as of December 31, 20256,098,079 $9.42 
The total fair value of RSUs that vested was $33.5 million, $24.7 million, and $20.5 million during the years ended December 31, 2025, 2024, and 2023, respectively. In February 2023, the Company’s Board approved a net share settlement approach for satisfaction of tax withholding obligations in connection with settlement of taxes for RSUs. Accordingly, a portion of the vested RSUs were net-settled such that the Company withheld shares with a value equivalent to the employees’ obligation for the applicable income and other employment taxes, and remitted the cash to the appropriate taxing authorities. During the year ended December 31, 2025, the Company withheld 396,459 shares, which was based on the value of the RSUs on their respective vesting dates as determined by the Company’s closing stock price. Total payments for the employees’ tax obligations to taxing authorities was $2.9 million, $18.9 million, and $10.4 million for the years ended December 31, 2025, 2024, and 2023 respectively.
As of December 31, 2025 there was $49.0 million of unrecognized stock-based compensation expense related to outstanding RSUs, which is expected to be recognized over a weighted-average period of 2.12 years.
In connection with the acquisition of TrueLark, the Company granted PRSUs to key TrueLark employees that vest based on the achievement of certain service- and revenue-based conditions. Refer to Note 3 above for further discussion.
Employee Stock Purchase Plan
In October 2021, the Company adopted the ESPP in which eligible employees may contribute up to 50% of their base compensation to purchase shares of common stock at a price equal to 85% of the lower of (1) the fair market value of a share of the Company’s common stock at the beginning of the
offering period and (2) the fair market value of a share of the Company’s common stock on the purchase date. No participant may purchase more than 2,500 shares during any offering period. The ESPP became effective in November 2021 in connection with the Company’s IPO. As of December 31, 2025, 2024, and 2023, there were 4,034,053, 3,301,800, and 2,600,637 shares reserved for issuance, respectively, and 925,887, 677,635, and 457,593 shares, respectively, of common stock had been issued under the ESPP. The number of shares available for issuance under the ESPP may be increased on the first day of each fiscal year beginning with the 2022 fiscal year by an amount to be determined by the Board. In the first fiscal quarter of 2025, the Board reserved an additional 732,253 common shares for issuance under the ESPP.
The ESPP provides for six-month offering periods, which have historically begun February 16 and August 16 of each year, and the last day of each offering period is the purchase date for that period. Beginning with the second offering period of fiscal year 2025, the six-month offering periods will begin on February 25 and August 25 of each year.
During the years ended December 31, 2025, 2024, and 2023, the Company recognized $0.9 million, $0.9 million, and $0.7 million, respectively, of stock-based compensation expense related to the ESPP. As of December 31, 2025 and 2024, $1.0 million and $1.0 million in ESPP employee payroll contributions are included within accrued liabilities on the consolidated balance sheets, respectively. As of December 31, 2025, total unrecognized compensation costs related to the ESPP was $0.1 million, which will be amortized over the remaining offering period through February 24, 2026.
The following assumptions were used to calculate the fair value of shares to be granted under the ESPP during the years ended December 31, 2025, 2024, and 2023:
Year Ended December 31,
202520242023
Risk free interest rate
4.13% - 4.34%
5.02% - 5.31%
5.54 %
Expected term0.50 years0.50 years0.50 years
Expected volatility
37.97% - 62.50%
59.98% - 67.16%
67.16%
Dividend yield0.00%0.00%0.00%
v3.25.4
Net Loss Per Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Net Loss Per Share Net Loss Per Share
The following tables present the calculation of basic and diluted net loss per share for the years ended December 31, 2025, 2024, and 2023 (in thousands, except share and per share amounts):
Year Ended December 31,
202520242023
Numerator:
Net loss$(28,052)$(28,346)$(31,031)
Denominator:
Weighted-average common shares outstanding - basic and diluted76,306,740 71,656,892 67,694,978 
Net loss per share
Net loss per share, basic and diluted$(0.37)$(0.40)$(0.46)
The following outstanding potential common shares were excluded from the computation of diluted net loss per share attributable to common stockholders as of the end of the periods presented because their inclusion would have been antidilutive:
Year Ended December 31,
202520242023
Options to purchase common stock1,228,367 1,461,110 1,840,735 
Number of shares issuable from ESPP156,242 134,606 123,899 
Restricted stock units6,098,079 6,675,938 7,504,848 
Total7,482,688 8,271,654 9,469,482 
v3.25.4
Retirement Plan
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Retirement Plan Retirement Plan
In March 2016, the Company established a qualified domestic 401(k) defined contribution plan covering substantially all employees. This plan allows employees to contribute a portion of their salary up to the maximum dollar limitation prescribed by the Internal Revenue Service, which was $23,500, $23,000, and $22,500 for the years ended December 31, 2025, 2024, and 2023 respectively. These contributions can be made on a pre- or post-tax basis. During the years ended December 31, 2025, 2024 and 2023 the Company made approximately $4.0 million, $3.3 million, and $3.4 million in employer matching contributions to this plan, respectively.
v3.25.4
Segment Reporting
 12 Months Ended
Dec. 31, 2025
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 SaaS 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 include the consolidated functional expense categories reported in the Company’s statements of operations and comprehensive loss as well as those presented below. 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, 2025, 2024, and 2023 (in thousands):
Year Ended December 31,
202520242023
Revenue$239,024 $204,314 $170,468 
Costs and Expenses:
Direct costs of goods sold$39,854 $34,479 $31,323 
Payroll and employee-related costs$168,709 $151,456 $130,865 
Marketing costs$21,518 $15,888 $11,243 
Partner costs$5,422 $4,134 $3,365 
Professional fees$7,117 $5,269 $4,812 
Facilities costs$9,164 $8,176 $8,068 
Software costs$13,115 $11,756 $10,651 
Capitalized software deferred costs$(2,695)$(2,328)$(1,903)
Other segment items1
$4,872 $3,830 $3,075 
Net loss$(28,052)$(28,346)$(31,031)
¹ Other segment items include interest income and expense, other income, income taxes, property tax, bad debt expense, business insurance, and travel-related expenses
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We maintain a comprehensive process for identifying, assessing, and managing material risks from cybersecurity threats (as such term is defined in Item 106(a) of Regulation S-K) as part of our broader risk management system and processes. We obtain input, as appropriate, for our cybersecurity risk management program on the security industry and threat trends from multiple external experts and internal teams. Teams of dedicated privacy, safety, and security professionals oversee cybersecurity risk management and mitigation, incident prevention, detection, and remediation. Leadership for these teams are professionals with deep cybersecurity expertise across multiple industries, including our Head of Security, who has over twenty years of cybersecurity experience across multiple industries. Our executive leadership team, along with input from the above teams, are responsible for our overall enterprise risk management system and processes and regularly consider cybersecurity risks in the context of other material risks to the company.
As part of our cybersecurity risk management system, our incident management process tracks and logs privacy and cybersecurity incidents (as such term is defined in Item 106(a) of Regulation S-K) across Weave, our vendors, and other third-party service providers to remediate and resolve any such incidents. Significant incidents are reviewed regularly by a cross-functional working group to determine whether further escalation is appropriate. Any incident assessed as potentially being or potentially becoming material is immediately escalated for further assessment, and then reported to designated members of our senior management. We consult with outside counsel as appropriate, including on materiality analysis and disclosure matters, and our senior management makes the final materiality determinations and disclosure and other compliance decisions. Our management apprises Weave’s independent public accounting firm of matters and any relevant developments and also provides regular updates on cybersecurity to our Audit Committee and Board of Directors.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] We obtain input, as appropriate, for our cybersecurity risk management program on the security industry and threat trends from multiple external experts and internal teams.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
The Nominating and Governance Committee has oversight responsibility for risks and incidents relating to cybersecurity threats, including compliance with disclosure requirements, cooperation with law enforcement, and related effects on financial and other risks, and it reports any findings and recommendations, as appropriate, to the full Board for consideration. Senior management regularly discusses cyber risks and trends and, should they arise, any material incidents with the Audit Committee.
Our business strategy, results of operations and financial condition have not to date been materially affected by risks from cybersecurity threats, including as a result of previously identified cybersecurity incidents, but we cannot provide assurance that they will not be materially affected in the future by such risks or any future material incidents. For more information on our cybersecurity related risks, see the section titled “Risk Factors” set forth in Part I, Item 1A of this Annual Report on Form 10-K.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Any incident assessed as potentially being or potentially becoming material is immediately escalated for further assessment, and then reported to designated members of our senior management.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Nominating and Governance Committee has oversight responsibility for risks and incidents relating to cybersecurity threats, including compliance with disclosure requirements, cooperation with law enforcement, and related effects on financial and other risks, and it reports any findings and recommendations, as appropriate, to the full Board for consideration. Senior management regularly discusses cyber risks and trends and, should they arise, any material incidents with the Audit Committee.
Our business strategy, results of operations and financial condition have not to date been materially affected by risks from cybersecurity threats, including as a result of previously identified cybersecurity incidents, but we cannot provide assurance that they will not be materially affected in the future by such risks or any future material incidents. For more information on our cybersecurity related risks, see the section titled “Risk Factors” set forth in Part I, Item 1A of this Annual Report on Form 10-K.
Cybersecurity Risk Role of Management [Text Block] Any incident assessed as potentially being or potentially becoming material is immediately escalated for further assessment, and then reported to designated members of our senior management. We consult with outside counsel as appropriate, including on materiality analysis and disclosure matters, and our senior management makes the final materiality determinations and disclosure and other compliance decisions.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] udit Committee and Board of Directors
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Leadership for these teams are professionals with deep cybersecurity expertise across multiple industries, including our Head of Security, who has over twenty years of cybersecurity experience across multiple industries.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] Any incident assessed as potentially being or potentially becoming material is immediately escalated for further assessment, and then reported to designated members of our senior management.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Principles of Consolidation The consolidated financial statements include the accounts of Weave Communications, Inc. and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation.
Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).
Segments The Company determines its operating and reportable segments based on how the chief operating decision maker (“CODM”), who is the Company’s Chief Executive Officer (“CEO”), reviews and manages the operating results of the business to evaluate segment performance and allocate resources within the business. As described in Note 17, the Company operates as one operating and reportable segment.
Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of sales and expenses during the reporting period. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Actual results could differ from those estimates. Significant estimates included in the Company’s financial statements include the valuation allowance against deferred tax assets, allowance for credit losses, recoverability of long-lived assets, fair value of stock-based compensation, the amortization period of deferred contract costs, and the valuation and useful lives of acquired intangible assets.
Concentration of Risks
The functionality of the Company’s software and cloud-based phone system relies heavily on its ability to integrate with customers’ systems of record, including practice or client management systems. In some of the core healthcare verticals that the Company serves, less than five providers make up the majority of practice management systems (“PMS”) maintained by practitioners in the U.S. At this time, the Company does not anticipate loss of integration rights with any of these major providers. To mitigate the risk, the Company has developed a system-agnostic subscription option that, if needed, does not rely on an integration for functionality.
Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. At times, the Company’s cash balances held at financial institutions may exceed the amount insured by the Federal Deposit Insurance Corporation. The Company has not experienced any losses on its deposits of cash.
Revenue Recognition and Deferred Contract Costs
The Company derives the majority of its revenue from subscription services by providing customers access to its platform.
The Company recognizes revenue when control of these services is transferred to customers in an amount that reflects consideration to which the Company expects to be entitled in exchange for those services, net of tax. Revenue recognition is determined from the following steps:
•Identification of a contract with a customer;
•Identification of the performance obligations in the contract;
•Determination of the transaction price;
•Allocation of the transaction price to the performance obligations within the contract; and
•Recognition of revenue when, or as, performance obligations are satisfied.
The Company recognizes revenue as follows:
Subscriptions revenue (software and phone service) is generated from fees that provide customers access to one or more of the Company’s software applications and related services. These arrangements have contractual terms, wherein payment is generally received up front either monthly or annually. Arrangements with customers do not provide the customer with the right to take possession of the Company’s software at any time. Instead, customers are granted continuous access to the services over the contractual period. The Company transfers control of services evenly over the contractual period. Accordingly, the consideration related to subscriptions is recognized over time on a straight-line basis over the contract term beginning on the date the Company’s service is made available to the customer.
The Company also provides payment processing services and receives a revenue share from a third-party payment facilitator on transactions between Weave customers that utilize the Weave payments platform, and their end consumers. These payment transactions are generally for services rendered at customers’ business location via credit card terminals or through several card-not-present modalities, including “text-to-pay” functionality. As the Company acts as an agent in these arrangements, revenue from payments services is recorded net of transaction processing fees and revenue is recognized at the time transactions are processed.
The Company offers remote installation services as part of the onboarding process, wherein the Company can install pre-configured applications on customer hardware, which allow remote access to Weave’s cloud solution. Customers may also choose to engage directly with one of several preferred third-party providers to perform on-site installation services. The Company considers onboarding and
installation services a separate performance obligation, and recognizes revenue at the time the installation services are complete.
Excluding payments services and installation revenue, most customers are billed in advance and may elect to be billed on a monthly or annual basis, while a small subset of customers are billed monthly in arrears. The Company records deferred revenue when cash payments are received or billings are due in advance of the performance of services. Deferred revenue is recognized as revenue when, or as, the performance obligations are satisfied. Software and phone service revenue is recognized net of discounts in the condensed consolidated statements of operations and comprehensive loss. The Company does not consider discounts to be variable consideration as they are stated on each agreement and not subject to contingencies or variability. The Company collects sales and communications taxes from its customers. In the consolidated statements of operations and comprehensive loss, amounts collected from taxes are excluded from the reported revenue amounts.
The Company elected to apply the practical expedient to not disclose the transaction price allocated to remaining performance obligations for contracts with a contract term of one year or less.
In addition to providing software and VoIP phone services, the Company provides phone hardware to its customers as part of its subscription offering. The Company allows customers to include phones without adjustment to the subscription base price, depending on the selected subscription bundle. The majority of customers select a bundle which includes five phones without adjustment to the subscription price. In such arrangements, the Company is deemed the lessor and the arrangement is an operating lease per guidance provided in the Accounting Standards Codification (“ASC”) 842, Leases. Title of the phones does not transfer to the customer at any point. If a customer were to cancel at any time, the phones are returned to the Company. For the years ended December 31, 2025, 2024, and 2023 the Company recorded $6.8 million, $4.7 million and $4.5 million, respectively, in lease revenue associated with the phone hardware.
As a lessor, future minimum lease payments may vary due to customer agreements being either month-to-month or annual, and the fact that subscription payments are allocated based on the fair value of all services provided to the customer. With phone hardware being deployed to customers for their useful life, residual value does not accrue to the benefit of the Company. Phone hardware that is returned is refurbished and placed into service.
In accordance with ASC 340, Other Assets and Deferred Costs, the Company capitalizes incremental costs of obtaining and fulfilling a contract with a customer, provided the Company expects to recover those costs. The capitalized amounts mainly consist of sales commissions paid to the Company’s direct sales force. Capitalized costs also include:
•Commissions to sales management for achieving incremental sales quota;
•The associated payroll taxes and fringe benefit costs associated with the payments to the Company’s employees;
•One time commissions paid to partners; and
•One time registration fees assessed by mobile carriers.
These costs are recorded as deferred contract costs, net on the consolidated balance sheets. Amortization of deferred contract costs related to commissions, and the associated taxes and fringe benefit costs, are included in sales and marketing expense in the consolidated statements of operations and comprehensive loss. Deferred contract costs related to one-time registration fees paid to mobile carriers are included in cost of revenue in the consolidated statements of operations and comprehensive loss. These costs are amortized on a straight-line basis over the average period of consumer benefit, which is three years. In arriving at this average period of benefit, the Company evaluated both qualitative and quantitative factors which included the anticipated customer life, historical customer life, and the useful life of the Company’s product offerings.
Monthly commensurate revenue share fees paid to partners are expensed as incurred as their estimated period of benefit does not extend beyond twelve months and, therefore, fall under the practical expedient which allows these costs to be expensed as incurred.
Cash and Cash Equivalents Cash consists of deposits in financial institutions. Cash equivalents consist of highly liquid investments in money market securities with an original maturity of 90 days or less.
Foreign Currency
The reporting currency of the Company is the U.S. dollar. The functional currency of our subsidiaries in India is the U.S. dollar. The functional currency of our subsidiary in Canada is the Canadian Dollar. Transactions within a subsidiary entity which are denominated in currencies other than the subsidiary’s functional currency are recorded based on the exchange rates at the time such transactions arise. Resulting gains and losses are recorded in other income (expense), net in the consolidated statements of operations and comprehensive loss in the period of occurrence.
Revenues and expenses of the Company’s foreign subsidiaries are translated from the applicable functional currency to the U.S. dollar using the average exchange rates during the reporting period, while assets and liabilities are translated at the period-end exchange rates. Resulting gains or losses from translating foreign currency are included in accumulated other comprehensive income (loss) in the consolidated statements of operations and comprehensive loss.
Short-Term Investments
The Company determines the appropriate classification of its investments at the time of purchase. As the Company views these securities as available to support current operations, it accounts for these debt securities as available-for-sale and classifies them as current assets on its consolidated balance sheets. These securities are recorded at estimated fair value. Unrealized gains and losses for available-for-sale securities are included in other comprehensive income (loss) in the consolidated statements of operations and comprehensive loss. The Company periodically evaluates its investments to assess whether those with unrealized loss positions are other-than-temporarily impaired. The Company considers impairments to be other than temporary if they are related to deterioration in credit risk or if it is more likely than not that the Company will sell the securities before the recovery of their cost basis. If the Company does not intend to sell a security and it is not more likely than not that it will be required to sell the security before recovery, the unrealized loss is separated into an amount representing the credit loss, which is recognized in other income (expense), net in the consolidated statements of operations and comprehensive loss, and the amount related to all other factors, which is recorded in other comprehensive income (loss) in the consolidated statements of operations and comprehensive loss. To date, the Company has not experienced any credit losses on its investments.
Realized gains and losses and declines in value judged to be other than temporary are determined based on the specific identification method and are reported in other income (expense), net in the consolidated statements of operations and comprehensive loss. Realized gains, consisting of discount accretion, for the years ended December 31, 2025, 2024, and 2023 were $0.9 million, $2.1 million, and $2.7 million, respectively.
Accounts Receivable and Provision for Credit Losses Accounts receivable are mostly comprised of credit card billings and are recorded at the invoiced amounts when an unconditional right to cash exists. Accounts receivable do not bear interest. Accounts receivable balances outstanding longer than the contractual payment terms are considered past due. Accounts are written off when deemed uncollectible. Recoveries of accounts receivable previously written off are recorded when cash is received.
Property and Equipment
Property and equipment are stated at historical cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of property and equipment or over the related lease terms (if shorter). Costs of major improvements that extend the useful life of the property and equipment have been capitalized, while costs of normal repairs and maintenance are expensed as incurred. The Company retains ownership of the phone hardware. Phone hardware is deemed to have a useful life of three years and is depreciated over that period. The estimated useful life of each asset category is summarized as follows:
Estimated Useful Life
Office equipment
3 - 5 years
Phone hardware
3 years
Payment terminals
3 years
Office furniture
7 years
Leasehold improvementsShorter of remaining lease term or estimated life
When property and equipment is retired or otherwise disposed of, the net book value of the asset is removed from the respective accounts and any gain or loss is included in other income, net in the consolidated statements of operations and comprehensive loss.
Capitalized Software Costs
The Company capitalizes certain costs in connection with implementing or developing software for internal use and as part of its platform, which are subject to ASC 350-40, Internal Use Software. Amortization of such costs begins when the implementation or development of the project is substantially complete and the software is ready for its intended use. Costs related to preliminary project activities and post implementation activities are expensed as incurred. Capitalized software is stated at cost less accumulated amortization and amortized on a straight-line basis over its estimated period of expected benefit, which is three years. Amortization expense associated with these costs is reported in the cost of revenue line item on the consolidated statements of operations and comprehensive loss.
Capitalized Cloud Computing Costs
The Company capitalizes certain costs incurred to implement cloud computing arrangements that are service contracts. Amortization of such costs begins when the implementation of the arrangement is substantially complete and the software is ready for its intended use. Capitalized implementation costs are amortized on a straight-line basis over the expected term of the hosting arrangement, which includes consideration of the non-cancellable contractual term and reasonably certain renewals. Costs incurred during the preliminary project or the post-implementation and operation stages of the project are expensed as incurred. Implementation costs are included in other assets on the consolidated balance sheets. Amortization of capitalized implementation costs is included in the same line item in the consolidated statements of operations and comprehensive loss as the expense for fees for the associated with the hosting arrangement.
Leases
At the inception of a contract, the Company determines whether the contract is or contains a lease. Lease classification is evaluated by the Company at lease commencement and when significant amendments are executed. For those leases which contain a readily determinable implicit rate, the implicit rate is used to discount lease payments. For those leases which do not provide a readily determinable implicit rate, the Company estimates the incremental borrowing rate to discount lease payments based on information available at lease commencement. The lease term consists of the noncancellable period of the lease and periods covered by options to extend the lease if the Company is reasonably certain to exercise the option. For leases of 12 months or less, the Company expenses lease payments on a straight-line basis over the lease term.
For all operating leases with a term greater than 12 months, the Company recognizes a right-of-use asset and a lease liability at the lease commencement date based on the estimated present value of future minimum lease payments, which includes certain lease and non-lease components, over the lease term. Operating lease right-of-use assets and operating lease liabilities are disclosed separately on the consolidated balance sheets.
Finance leases are initially recorded at the net present value of future minimum lease payments, which includes certain lease and non-lease components. Finance leases generally have one of these five attributes: 1) ownership of the underlying asset transfers to the Company at the end of the lease term, 2) the lease agreement contains a purchase option that the Company is reasonably certain to exercise, 3) the lease term represents the major part of the asset’s economic life, 4) the present value of lease payments over the lease term equals or exceeds substantially all of the fair value of the asset, and 5) the underlying asset is so specialized in nature that it provides no alternative use to the lessor after the lease term. Finance lease right-of-use assets and finance lease liabilities are disclosed separately on the consolidated balance sheets. As discussed in the Leases footnote below, the Company’s finance lease arrangements are related to phone hardware, and, as such, the Company depreciates the related finance lease right-of-use assets consistent with the phone hardware useful life policy presented in the table above, which is three years.
Business Combinations
The Company accounts for acquisitions in accordance with the guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, Business Combinations, using the acquisition method of accounting. The Company allocates the purchase price consideration associated with its acquisition to the fair values of assets acquired and liabilities assumed at their respective acquisition dates, with the excess recorded to goodwill. The allocation involves a number of assumptions, estimates, and judgments in determining fair value of the following:
•Intangible assets, including valuation methodology, estimations of future cash flows, discount rates, market segment growth rates, and the Company’s assumed market share, as well as the estimated useful life of intangible assets;
•Deferred tax assets and liabilities, uncertain tax positions, and tax-related valuation allowances, which are initially estimated as of the acquisition date; and
•Goodwill as measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and liabilities assumed.
The Company’s assumptions and estimates are based upon comparable market data and information obtained from Company management and the management of the acquired companies. These assumptions and estimates are used to value assets acquired and liabilities assumed, and to allocate goodwill to the reporting units of the business that are expected to benefit from the business combination. Adjustments to the fair values of assets acquired and liabilities assumed may be recorded during the measurement period, which may be up to one year from the acquisition date, with the corresponding offset to goodwill. The Company may engage a valuation specialist to assist in the fair value measurement of assets acquired and liabilities assumed for each acquisition.
Intangible Assets and Goodwill
Acquired finite-lived intangible assets are amortized on a straight-line basis over the estimated useful life of the asset, which ranges from five to seven years.
Goodwill
Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. Goodwill is not subject to amortization, but is tested annually for impairment within the Company’s fourth fiscal quarter using an October 1 measurement date or more frequently if there are indicators of impairment. The Company first performs a qualitative assessment to determine if it is more likely than not that its reporting unit’s carrying amount exceeds its fair value, referred to as a “step zero” approach. If, based on the review of the qualitative factors, the Company determines that it is not more likely than not that the fair value of its reporting unit is less than its carrying value, the Company would bypass the quantitative impairment test. Management considers the following potential indicators of impairment: (1) significant underperformance relative to historical or projected future operating results; (2) significant changes in the Company’s use of acquired assets or the strategy of its overall business; (3) significant negative industry or economic trends; and (4) a significant decline in the Company’s stock price for a sustained period.
If the qualitative assessment is not conclusive, or if the Company elects to bypass the qualitative test, the Company quantitatively assesses the fair value of a reporting unit to test goodwill for impairment. The Company assesses the fair value of a reporting unit using a combination of discounted cash flow modeling and observable valuation multiples for comparable companies. The Company’s estimates are
developed using assumptions that the Company believes are consistent with how a market participant would value its reporting units. If the carrying amount of a reporting unit exceeds the reporting unit’s fair value, the Company records the excess amount as goodwill impairment, not to exceed the total amount of goodwill allocated to the reporting unit.
Weave operates under one reporting unit and, as a result, evaluates goodwill impairment based on its fair value as a whole. The Company did not recognize an impairment charge in any of the periods presented. The Company has no other intangible assets with indefinite useful lives.
Impairment of Long-Lived Assets The Company’s long-lived assets consist of property and equipment, capitalized software costs, intangible assets, leases and deferred contract costs. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability of assets to be held and used is measured by comparison of the carrying amount of an asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If the carrying amount of an asset group exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset group exceeds the fair value of the asset group. Significant management judgment is required in determining the estimated undiscounted future cash flows expected to be generated by the asset group and the fair value of long-lived assets for impairment purposes.
Advertising Expense Advertising costs are expensed as incurred.
Research and Development
Research and development expenses include software development costs that are not eligible for capitalization and support the Company’s efforts to ensure the reliability, availability and scalability of the Company’s products. The Company’s cloud platform is software-driven, and its research and development teams employ software engineers in the continuous testing, certification and support of the Company’s products. Accordingly, the majority of the Company’s research and development expenses result from employee-related costs, including salaries, bonuses, benefits and costs associated with technology tools used by the Company’s engineers.
Stock-Based Compensation
Stock-based compensation expense resulting from stock options is measured at the grant date fair value of the award and is calculated using the Black-Scholes option pricing model. This compensation expense is recognized using the straight-line attribution method over the requisite service period. The Company accounts for forfeitures as they occur. See Note 14 for further detail on the judgments and assumptions used to calculate stock-based compensation expense.
The Company records stock-based compensation expense from RSUs based on the grant date fair value of the awards and recognizes the fair value of those awards as expense using the straight-line method over the requisite service period of the award.
Stock-based compensation expense related to purchase rights issued under the Employee Stock Purchase Plan (“ESPP”) is based on the Black-Scholes option-pricing model fair value of the estimated number of awards to be purchased as of the beginning of the offering period. Stock-based compensation expense is recognized using the straight-line method over the offering period.
Income Taxes
The Company records a provision for income taxes for the anticipated tax of its reported results of operations using the asset and liability method. Under this method, deferred income taxes are recognized by applying the enacted tax rates expected to be in effect in future years to the differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as net operating losses and tax credit carryforwards. The measurement of deferred tax assets is reduced by a valuation allowance when it is more likely than not that some portion of the deferred tax assets will not be realized.
The Company does not recognize certain tax benefits from uncertain tax positions within the provision for income taxes. A tax benefit is recognized only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. For such positions, the largest benefit that has a greater than 50% likelihood of being realized upon settlement is recognized in the consolidated financial statements. Where applicable, interest and penalties are recognized in the provision for income taxes on the consolidated statement of operations and comprehensive loss.
Net Loss Per Share
Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period.
Diluted net loss per share is computed using the weighted-average number of shares of common stock plus the effect of potentially dilutive common shares outstanding during the period using the treasury stock method unless their effect is antidilutive.
Accounting Pronouncements Pending Adoption
Accounting Pronouncements Pending Adoption
In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which requires the disclosure of specific categories in the rate reconciliation and greater disaggregation for income taxes paid. ASU 2023-09 will be effective for annual periods beginning after December 15, 2025 and should be adopted prospectively with the option to be adopted retrospectively. The Company is currently evaluating the impact of ASU 2023-09 on its related disclosures.
In November 2024, the FASB issued ASU No. 2024-03, “Income Statement (Topic 220): Disaggregation of Income Statement Expenses” (“ASU 2024-03”), which requires additional disclosures of certain amounts included in the expense captions presented on the Statement of Operations as well as disclosures about selling expenses. The ASU is effective on a prospective basis, with the option for retrospective application, for annual periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, and early adoption is permitted. The Company is currently evaluating the impacts of adopting this guidance on its financial statement disclosures and statements of operations and comprehensive loss.
In July 2025, the FASB issued ASU No. 2025-05, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets” (“ASU 2025-05”), which provides a practical expedient when estimating expected credit losses on current accounts receivable and current contract assets. ASU 2025-05 will be effective for annual periods beginning after December 15, 2025 and should be adopted prospectively. The Company has evaluated the impact of ASU 2025-05 on its related disclosures, statements of operations and comprehensive loss, and balance sheets noting no material impact.
In September 2025, the FASB issued ASU No. 2025-06, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use
Software” (“ASU 2025-06”), which updates the criteria for capitalization of internal-use software and the associated required disclosures. ASU 2025-06 will be effective for annual periods beginning after December 15, 2027 and should be adopted prospectively with the option to be adopted retrospectively. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-06 on its related disclosures, statements of operations and comprehensive loss, and balance sheets.
In December 2025, the FASB issued ASU No. 2025-11, “Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies interim disclosure requirements and the applicability of Topic 270. ASU 2025-11 will be effective for interim reporting periods within annual reporting periods beginning after December 15, 2027 and can be applied either prospectively or retrospectively. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2025-11 on its interim reporting.
As an “emerging growth company,” the Jumpstart Our Business Startups Act (the “JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use the adoption dates applicable to private companies. As a result, the Company’s consolidated financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective date for new or revised accounting standards that are applicable to public companies. Beginning on December 31, 2026, the Company will no longer qualify for emerging growth company status; as such, future accounting pronouncements will be adopted in accordance with the adoption dates applicable to public companies.
v3.25.4
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Provision for Credit Losses
The following is a roll forward of our provision for credit losses (in thousands):
Year Ended December 31,
202520242023
Balance Beginning of Period$523 $200 $— 
Charged to Costs or Expenses1,112 1,867 1,164 
Deductions(897)(1,544)(964)
Balance at End of Period$738 $523 $200 
Schedule of Estimated Useful Life of Asset Category The estimated useful life of each asset category is summarized as follows:
Estimated Useful Life
Office equipment
3 - 5 years
Phone hardware
3 years
Payment terminals
3 years
Office furniture
7 years
Leasehold improvementsShorter of remaining lease term or estimated life
Property and equipment consisted of the following for the periods presented (in thousands):
December 31, 2025December 31, 2024
Office equipment$3,501 $6,626 
Office furniture5,539 5,670 
Leasehold improvements3,039 2,763 
Capitalized internal-use software9,746 7,059 
Payment terminals2,523 2,308 
Property and equipment, gross24,348 24,426 
Less accumulated depreciation and amortization(15,136)(15,983)
Property and equipment, net$9,212 $8,443 
v3.25.4
Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Allocation of the Purchase Price
The allocation of the purchase price was as follows (in thousands):
Consideration transferred
Cash paid$23,549 
Equity issued10,041 
Holdback amount2,325 
Total purchase consideration$35,915 
Identifiable assets acquired
Cash231 
Accounts receivable107 
Prepaid expenses and other assets597 
Intangible assets: developed technology4,300 
Intangible assets: customer relationships2,300 
Intangible assets: trademarks and trade names1,400 
Total assets acquired$8,935 
Liabilities assumed
Accounts payable and accrued liabilities2,333 
Deferred revenue152 
Total liabilities assumed2,485 
Goodwill29,465 
Total purchase consideration$35,915 
v3.25.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Goodwill activity was as follows (in thousands):
Total
Balance as of December 31, 2024
$— 
Additions (Note 3)29,465 
Balance as of December 31, 2025
$29,465 
Schedule of Finite-Lived Intangible Assets
Intangible Assets consisted of the following (in thousands):
Weighted-Average December 31, 2025
Remaining Useful LifeAccumulated
GrossAmortizationNet
Trademarks and Trade Names76 months$1,400 $(125)$1,275 
Developed Technology52 months4,300 (535)3,765 
Customer Relationships76 months2,300 (206)2,094 
Total$8,000 $(866)$7,134 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Based on the recorded intangible assets at December 31, 2025, estimated future amortization expense is expected to be as follows (in thousands):
Amortization
Years Ending December 31,Expense
20261,381 
20271,381 
20281,381 
20291,381 
2030881 
Thereafter729 
Total$7,134 
v3.25.4
Revenue (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Deferred Contract Costs
The following table summarizes the activity of deferred contract costs (in thousands):
Year Ended December 31,
202520242023
Beginning balance$21,055 $19,169 $18,027 
Capitalization of contract costs18,252 15,304 13,313 
Amortization of deferred contract costs(14,835)(13,418)(12,171)
Ending balance$24,472 $21,055 $19,169 
Schedule of Disaggregation of Revenue
The table below outlines revenue for the Company’s recurring subscription (software and phone services) and payment processing services, as well as for its onboarding services, and phone hardware for the years ended December 31, 2025, 2024, and 2023 (in thousands):
Year Ended December 31,
202520242023
Subscription and payment processing$228,769 $196,106 $162,715 
Phone Hardware (embedded lease)
6,792 4,661 4,521 
  Total recurring revenue
235,561 200,767 167,236 
Onboarding3,463 3,547 3,232 
  Total onboarding revenue
3,463 3,547 3,232 
Total revenue$239,024 $204,314 $170,468 
v3.25.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured on Recurring Basis
The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy for the year ended December 31, 2025 (in thousands):
Level 1Level 2Level 3Total
Cash equivalents
Money market funds$35,785 $— $— $35,785 
Short-term investments
US government and agency securities17,129 — 17,129 
Commercial paper— 9,632 — 9,632 
Total$52,914 $9,632 $— $62,546 
The following table summarizes the assets measured at fair value on a recurring basis by level within the fair value hierarchy for the year ended December 31, 2024 (in thousands):
Level 1Level 2Level 3Total
Cash equivalents
Money market funds$31,708 $— $— $31,708 
Short-term investments
US government and agency securities32,323 — 32,323 
Commercial paper— 15,211 — 15,211 
Total$64,031 $15,211 $— $79,242 
Schedule of Debt Securities, Available-for-Sale
The following table summarizes the Company's short-term investments on the consolidated balance sheets as of December 31, 2025 (in thousands):
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term investments
US government and agency securities$17,122 $7 $— $17,129 
Commercial paper9,632 1 (1)9,632 
Total$26,754 $8 $(1)$26,761 
The following table summarizes the Company's short-term investments on the consolidated balance sheets as of December 31, 2024 (in thousands):
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term investments
US government and agency securities$32,309 $23 $(9)$32,323 
Commercial paper15,203 8 — 15,211 
Total$47,512 $31 $(9)$47,534 
Schedule of Cash and Cash Equivalents
The following table summarizes the Company’s cash and cash equivalents on the consolidated balance sheets as of December 31, 2025 (in thousands):
December 31, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Cash$19,174 $— $— $19,174 
Cash equivalents
Money market funds 35,785 — — 35,785 
Total$54,959 $— $— $54,959 
The following table summarizes the Company’s cash and cash equivalents on the consolidated balance sheets as of December 31, 2024 (in thousands):
December 31, 2024
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Cash$19,888 $— $— $19,888 
Cash equivalents
Money market funds 31,708 — — 31,708 
Total$51,596 $— $— $51,596 
v3.25.4
Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment The estimated useful life of each asset category is summarized as follows:
Estimated Useful Life
Office equipment
3 - 5 years
Phone hardware
3 years
Payment terminals
3 years
Office furniture
7 years
Leasehold improvementsShorter of remaining lease term or estimated life
Property and equipment consisted of the following for the periods presented (in thousands):
December 31, 2025December 31, 2024
Office equipment$3,501 $6,626 
Office furniture5,539 5,670 
Leasehold improvements3,039 2,763 
Capitalized internal-use software9,746 7,059 
Payment terminals2,523 2,308 
Property and equipment, gross24,348 24,426 
Less accumulated depreciation and amortization(15,136)(15,983)
Property and equipment, net$9,212 $8,443 
Schedule of Indefinite-Lived Intangible Assets
The carrying value of capitalized internal-use software consisted of the following (in thousands):
December 31, 2025December 31, 2024
Capitalized internal-use software$9,746 $7,059 
Less: accumulated amortization(5,854)(4,508)
Capitalized internal-use software, net$3,892 $2,551 
v3.25.4
Accrued and Other Current Liabilities (Tables)
 12 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
Schedule of Accrued Liabilities
Accrued liabilities consisted of the following for the periods presented (in thousands):
December 31, 2025December 31, 2024
Payroll-related accruals$12,212 $11,353 
Accrued vendor and professional fees6,020 2,131 
Sales and telecom taxes3,975 2,451 
Employee stock purchase plan liability1,008 955 
Third-party commissions538 397 
Other4,166 351 
Total
$
27,919 
$
17,638 
v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Lease Expense and Other Information
Lease expense and other information consisted of the following for the periods presented (in thousands, except lease terms and discount rates):
Year Ended December 31,
202520242023
Lease expense
Finance lease expense:
Amortization of right-of-use assets
$7,359 $7,096 $7,421 
Interest on lease liabilities
1,410 1,342 1,165 
Operating lease expense
5,632 
5,690 
5,690 
Short-term lease expense
46 
43 
18 
Variable lease expense
479 
301 
40 
Total lease expense
$
14,926 
$
14,472 
$
14,334 
Supplemental cash flow information
Finance leases:
Operating cash outflow from finance leases
$
1,410 
$
1,342 
$
1,165 
Financing cash outflow from finance leases
$
7,168 
$
7,060 
$
7,530 
Operating leases:
Operating cash outflow from operating leases
$
5,762 
$
5,721 
$
5,574 
Other information
Finance leases:
Weighted-average remaining lease term (years)
1.8
Weighted-average discount rate
10.8 
%
Operating leases:
Weighted-average remaining lease term (years)
7.1
Weighted-average discount rate
3.9 
%
Schedule of Operating Lease Liability Maturity
Future maturities of remaining lease payments included in the measurement of operating lease liabilities as of December 31, 2025 are as follows (in thousands):
Years ending December 31,
2026
$
6,083 
2027
6,009 
2028
6,139 
2029
6,292 
2030
6,450 
Thereafter
13,953 
Total
44,926 
Less: imputed interest
(5,714)
Present value of operating lease obligations
$
39,212 
Schedule of Operating Lease, Lease Income
The Company reported revenues associated with these leases for the periods presented as follows (in thousands):
Year Ended December 31,
202520242023
Phone hardware revenue6,792 4,662 4,521 
Sublease income
877 877 658 
Total$7,669 $5,539 $5,179 
Schedule of Finance Lease Liability Maturity
Future minimum lease payments for the Company’s finance leases as of December 31, 2025 were as follows (in thousands):
Years ending December 31,
2026
$
7,697 
2027
4,697 
2028
2,062 
2029
— 
2030
— 
Thereafter
— 
Total
14,456 
Less: amounts representing interest
(1,516)
Present value of finance lease obligations
$
12,940 
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Loss before income tax
Loss before income taxes was as follows for the periods presented (in thousands):
Year Ended December 31,
202520242023
United States$(30,088)$(28,776)$(30,622)
Foreign1,112 619 (149)
Total$(28,976)$(28,157)$(30,771)
Schedule of Components of the provision for (benefit from) income taxes
The components of the provision for (benefit from) income taxes were as follows for the periods presented (in thousands):
Year Ended December 31,
202520242023
Current
Federal$— $— $— 
State76 9 53 
Foreign343 226 247 
Deferred
Federal(1,233)— — 
State(46)— — 
Foreign(64)(46)(40)
Total$(924)$189 $260 
Schedule of Reconciliation of effective tax rate
The following reconciles the differences between the federal statutory income tax rate in effect in each year to the Company’s effective tax rate for the periods presented:
Year Ended December 31,
202520242023
Statutory federal tax rate
21.00 
%
21.00 
%
21.00 
%
State tax, net of federal tax effect
1.75 
3.80 
2.70 
Stock-based compensation
13.97 %22.76 %7.54 %
Section 162(m)
(21.01)
(22.67)
(13.40)
Change in valuation allowance
(11.36)
(32.87)
(19.97)
Other
(1.16)
7.31 
1.29 
Effective tax rate
3.19 
%
(0.67)
%
(0.84)
%
Schedule of Components of deferred tax assets and liabilities
The components of deferred tax assets and liabilities were as follows for the periods presented (in thousands):
Year Ended December 31,
20252024
Deferred tax assets:
Net operating losses$56,267 $51,550 
Sales and use tax reserves253 197 
Stock-based compensation
2,360 2,914 
Compensation related accruals1,889 1,307 
Interest expense limitations— 309 
Leases - Right-of-use liability
9,742 10,749 
Other571 327 
Fixed assets598 651 
Capitalized research expenses15,064 11,082 
Valuation allowance(70,195)(64,119)
Total deferred tax assets - net16,549 14,967 
Deferred tax liabilities:
Intangible assets(2,003)(367)
Leases - Right-of-use asset
(8,392)(9,360)
Deferred contract costs(5,978)(5,129)
Total deferred tax liabilities(16,373)(14,856)
Net deferred taxes assets$176 $111 
Schedule of Activity of deferred tax asset valuation allowance
Activity of the deferred tax asset valuation allowance was as follows for the periods presented (in thousands):
Year Ended December 31,
202520242023
Balance at beginning of the year$64,119 $54,867 $48,723 
Charged to benefit or expense
6,076 9,252 6,144 
Balance at end of the year$70,195 $64,119 $54,867 
v3.25.4
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Contractual Obligation, Fiscal Year Maturity
Future minimum payments on these non-cancelable contractual commitments as of December 31, 2025, are as follows (in thousands):
Years ending December 31,
2026$10,064 
202710,824 
20282,557 
202949 
2030— 
Thereafter— 
Total$23,494 
v3.25.4
Stockholders’ Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Equity Based Compensation Expense
Stock-based compensation expense, consisting of service-based expense related to the equity incentive plans, including expense from stock options and restricted stock units, and the employee stock purchase plan, was classified as follows in the accompanying consolidated statements of operations and comprehensive loss for each of the periods presented (in thousands):
Year Ended December 31,
202520242023
Cost of revenue$894 $1,014 $971 
Sales and marketing7,510 6,582 4,233 
Research and development8,806 8,374 5,590 
General and administrative14,921 16,250 12,029 
Total$32,131 $32,220 $22,823 
Schedule of Stock Option Activity
Stock option activity was as follows for the year ended December 31, 2025:
Number of Stock Options
Weighted Average Exercise Price
Weighted Average Remaining Contractual Life (years)
Aggregate Intrinsic Value
(in thousands)
Outstanding as of December 31, 2024
1,461,110 
$
4.01 
4.54
$
17,408 
Exercisable as of December 31, 2024
1,400,993 
$
3.88 
4.46
$
16,866 
2025 Activity
Exercised
(228,134)
$
3.41 
Forfeited and expired
(4,609)
$
6.65 
Outstanding as of December 31, 2025
1,228,367 
$
4.10 
3.12
$
4,282 
Exercisable as of December 31, 2025
1,228,367 
$
4.10 
3.12
$
4,282 
Schedule of Restricted Stock Unit Activity
RSU activity was as follows:
Number of SharesWeighted Average Grant Date Fair Value
Outstanding as of December 31, 20246,675,938 $8.93 
Granted4,991,790 9.18
Vested(4,116,763)8.13
Forfeited(1,452,886)10.00
Outstanding as of December 31, 20256,098,079 $9.42 
Schedule of Fair Value Assumptions for ESPP
The following assumptions were used to calculate the fair value of shares to be granted under the ESPP during the years ended December 31, 2025, 2024, and 2023:
Year Ended December 31,
202520242023
Risk free interest rate
4.13% - 4.34%
5.02% - 5.31%
5.54 %
Expected term0.50 years0.50 years0.50 years
Expected volatility
37.97% - 62.50%
59.98% - 67.16%
67.16%
Dividend yield0.00%0.00%0.00%
v3.25.4
Net Loss Per Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Calculation of Basic and Diluted Net Loss Per Share
The following tables present the calculation of basic and diluted net loss per share for the years ended December 31, 2025, 2024, and 2023 (in thousands, except share and per share amounts):
Year Ended December 31,
202520242023
Numerator:
Net loss$(28,052)$(28,346)$(31,031)
Denominator:
Weighted-average common shares outstanding - basic and diluted76,306,740 71,656,892 67,694,978 
Net loss per share
Net loss per share, basic and diluted$(0.37)$(0.40)$(0.46)
Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share
The following outstanding potential common shares were excluded from the computation of diluted net loss per share attributable to common stockholders as of the end of the periods presented because their inclusion would have been antidilutive:
Year Ended December 31,
202520242023
Options to purchase common stock1,228,367 1,461,110 1,840,735 
Number of shares issuable from ESPP156,242 134,606 123,899 
Restricted stock units6,098,079 6,675,938 7,504,848 
Total7,482,688 8,271,654 9,469,482 
v3.25.4
Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Reconciliation of Revenue from Segments to Consolidated
The following table presents information about reported segment revenue, significant segment expenses, and segment net loss for the years ended December 31, 2025, 2024, and 2023 (in thousands):
Year Ended December 31,
202520242023
Revenue$239,024 $204,314 $170,468 
Costs and Expenses:
Direct costs of goods sold$39,854 $34,479 $31,323 
Payroll and employee-related costs$168,709 $151,456 $130,865 
Marketing costs$21,518 $15,888 $11,243 
Partner costs$5,422 $4,134 $3,365 
Professional fees$7,117 $5,269 $4,812 
Facilities costs$9,164 $8,176 $8,068 
Software costs$13,115 $11,756 $10,651 
Capitalized software deferred costs$(2,695)$(2,328)$(1,903)
Other segment items1
$4,872 $3,830 $3,075 
Net loss$(28,052)$(28,346)$(31,031)
¹ Other segment items include interest income and expense, other income, income taxes, property tax, bad debt expense, business insurance, and travel-related expenses
v3.25.4
Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
segment
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Operating Leased Assets [Line Items]      
Number of operating segments | segment 1    
Number of reportable segments | segment 1    
Lease revenue $ 6,792,000 $ 4,662,000 $ 4,521,000
Restricted cash 0 0  
Accumulated deficit 319,065,000 291,013,000  
Realized gains 900,000 2,100,000 2,700,000
Allowance for doubtful accounts $ 700,000 500,000  
Amortization period 3 years    
Impairment of long-lived asset $ 0 0 0
Advertising expense $ 17,200,000 $ 11,800,000 $ 8,300,000
Amortization period 3 years    
Minimum      
Operating Leased Assets [Line Items]      
Estimated useful life of the asset 5 years    
Maximum      
Operating Leased Assets [Line Items]      
Estimated useful life of the asset 7 years    
Phone hardware      
Operating Leased Assets [Line Items]      
Useful life 3 years    
Revolving credit facility | Line of Credit      
Operating Leased Assets [Line Items]      
Outstanding borrowings $ 0    
Remaining borrowing capacity $ 50,000,000.0    
v3.25.4
Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Provision for Credit Losses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Balance Beginning of Period $ 523 $ 200 $ 0
Charged to Costs or Expenses 1,112 1,867 1,164
Deductions (897) (1,544) (964)
Balance at End of Period $ 738 $ 523 $ 200
v3.25.4
Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Estimated Useful Life of Asset Category (Details)
Dec. 31, 2025
Phone hardware  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 3 years
Payment terminals  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 3 years
Office furniture  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 7 years
Minimum | Office equipment  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 3 years
Maximum | Office equipment  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 5 years
v3.25.4
Business Combinations - Narrative (Details)
$ in Thousands
 12 Months Ended
May 16, 2025
USD ($)
payout
shares
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Business Combination [Line Items]        
Goodwill   $ 29,465 $ 0  
Stock-based compensation expense   $ (32,131) $ (32,220) $ (22,823)
Intangible assets: developed technology        
Business Combination [Line Items]        
Weighted-average remaining useful life   52 months    
Intangible assets: customer relationships        
Business Combination [Line Items]        
Weighted-average remaining useful life   76 months    
Contingent Consideration Payable In Common Stock        
Business Combination [Line Items]        
Contingent consideration, liability $ 500      
Vidurama, Inc.        
Business Combination [Line Items]        
Total purchase consideration 35,915      
Holdback amount $ 2,325      
Contingent consideration period 6 years      
Contingent consideration, liability $ 1,600      
Number of shares issued (in shares) | shares 49,967      
Contingent consideration, liability, noncurrent $ 200      
Goodwill $ 29,465 $ 29,500    
Vidurama, Inc. | Intangible assets: developed technology        
Business Combination [Line Items]        
Weighted-average remaining useful life 5 years      
Vidurama, Inc. | Intangible assets: customer relationships        
Business Combination [Line Items]        
Weighted-average remaining useful life 7 years      
Vidurama, Inc. | Trade names        
Business Combination [Line Items]        
Weighted-average remaining useful life 7 years      
Vidurama, Inc. | Short term Holdback        
Business Combination [Line Items]        
Purchase price $ 500      
Contingent consideration period 90 days 90 days    
Vidurama, Inc. | Ascrow Arrangement        
Business Combination [Line Items]        
Contractual term 12 months      
Vidurama, Inc. | Contingent Consideration Payable In Common Stock        
Business Combination [Line Items]        
Contingent consideration, liability $ 1,100      
TrueLark Agreement        
Business Combination [Line Items]        
Revenue milestone, completion period one 1 year      
Revenue milestone, completion period two 1 year      
Number of potential payouts | payout 2      
Stock-based compensation expense   $ (2,700)    
TrueLark Agreement | Common Stock        
Business Combination [Line Items]        
Revenue milestone, payout amount $ 5,000      
Revenue milestone, payout (in shares) | shares 1,000,000      
v3.25.4
Business Combinations - Schedule of Allocation of the Purchase Price (Details) - USD ($)
$ in Thousands
 12 Months Ended
May 16, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Consideration transferred        
Cash paid   $ 23,855 $ 0 $ 0
Equity issued   10,041 0 $ 0
Liabilities assumed        
Goodwill   29,465 $ 0  
Vidurama, Inc.        
Consideration transferred        
Cash paid $ 23,549      
Equity issued 10,041      
Holdback amount 2,325      
Total purchase consideration 35,915      
Identifiable assets acquired        
Cash 231      
Accounts receivable 107      
Prepaid expenses and other assets 597      
Total assets acquired 8,935      
Liabilities assumed        
Accounts payable and accrued liabilities 2,333      
Deferred revenue 152      
Total liabilities assumed 2,485      
Goodwill 29,465 $ 29,500    
Total purchase consideration 35,915      
Vidurama, Inc. | Intangible assets: developed technology        
Identifiable assets acquired        
Intangible assets 4,300      
Vidurama, Inc. | Intangible assets: customer relationships        
Identifiable assets acquired        
Intangible assets 2,300      
Vidurama, Inc. | Intangible assets: trademarks and trade names        
Identifiable assets acquired        
Intangible assets $ 1,400      
v3.25.4
Goodwill and Intangible Assets - Schedule of Goodwill (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Goodwill [Roll Forward]  
Balance as of December 31, 2024 $ 0
Additions 29,465
Balance as of December 31, 2025 $ 29,465
v3.25.4
Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Finite-Lived Intangible Assets [Line Items]  
Gross $ 8,000
Accumulated Amortization (866)
Total $ 7,134
Trademarks and Trade Names  
Finite-Lived Intangible Assets [Line Items]  
Weighted-average remaining useful life 76 months
Gross $ 1,400
Accumulated Amortization (125)
Total $ 1,275
Developed Technology  
Finite-Lived Intangible Assets [Line Items]  
Weighted-average remaining useful life 52 months
Gross $ 4,300
Accumulated Amortization (535)
Total $ 3,765
Customer Relationships  
Finite-Lived Intangible Assets [Line Items]  
Weighted-average remaining useful life 76 months
Gross $ 2,300
Accumulated Amortization (206)
Total $ 2,094
v3.25.4
Goodwill and Intangible Assets - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization of intangible assets $ 866 $ 0 $ 0
v3.25.4
Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2026 $ 1,381
2027 1,381
2028 1,381
2029 1,381
2030 881
Thereafter 729
Total $ 7,134
v3.25.4
Revenue - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]      
Deferred revenue recognized $ 39.4 $ 38.9 $ 34.1
v3.25.4
Revenue - Schedule of Deferred Contract Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Capitalized Contact Cost [Roll Forward]      
Beginning balance $ 21,055 $ 19,169 $ 18,027
Capitalization of contract costs 18,252 15,304 13,313
Amortization of deferred contract costs (14,835) (13,418) (12,171)
Ending balance $ 24,472 $ 21,055 $ 19,169
v3.25.4
Revenue - Schedule of Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Total revenue $ 239,024 $ 204,314 $ 170,468
Subscription and payment processing      
Disaggregation of Revenue [Line Items]      
Total revenue 228,769 196,106 162,715
Phone hardware      
Disaggregation of Revenue [Line Items]      
Total revenue 6,792 4,661 4,521
Recurring Revenue      
Disaggregation of Revenue [Line Items]      
Total revenue 235,561 200,767 167,236
Onboarding      
Disaggregation of Revenue [Line Items]      
Total revenue $ 3,463 $ 3,547 $ 3,232
v3.25.4
Fair Value Measurements - Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments $ 26,761 $ 47,534
Total 62,546 79,242
US government and agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 17,129 32,323
Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 9,632 15,211
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total 52,914 64,031
Level 1 | US government and agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 17,129 32,323
Level 1 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total 9,632 15,211
Level 2 | US government and agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Level 2 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 9,632 15,211
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total 0 0
Level 3 | US government and agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments
Level 3 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 35,785 31,708
Money market funds | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 35,785 31,708
Money market funds | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Money market funds | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents $ 0 $ 0
v3.25.4
Fair Value Measurements - Cash , Cash Equivalents and Short-term Investments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Short-term investments    
Amortized Cost $ 26,754 $ 47,512
Gross Unrealized Gains 8 31
Gross Unrealized Losses (1) (9)
Fair Value 26,761 47,534
Cash and Cash Equivalents    
Cash 19,174 19,888
Money market funds 35,785 31,708
Cash and cash equivalents 54,959 51,596
US government and agency securities    
Short-term investments    
Amortized Cost 17,122 32,309
Gross Unrealized Gains 7 23
Gross Unrealized Losses 0 (9)
Fair Value 17,129 32,323
Commercial paper    
Short-term investments    
Amortized Cost 9,632 15,203
Gross Unrealized Gains 1 8
Gross Unrealized Losses (1) 0
Fair Value $ 9,632 $ 15,211
v3.25.4
Fair Value Measurements - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
security
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Continuous unrealized loss position, 12 months or longer, number of positions | security 0    
Fair value of debt $ 0 $ 0  
Realized investment gains $ (900,000) $ (2,100,000) $ (2,700,000)
Weighted Average      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Debt securities, available-for-sale, term 4 months    
v3.25.4
Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Line Items]    
Property, plant and equipment $ 24,348 $ 24,426
Less accumulated depreciation and amortization (15,136) (15,983)
Property and equipment, net 9,212 8,443
Office equipment    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 3,501 6,626
Office furniture    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 5,539 5,670
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 3,039 2,763
Capitalized internal-use software    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 9,746 7,059
Payment terminals    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment $ 2,523 $ 2,308
v3.25.4
Property and Equipment - Capitalized Use Software (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Abstract]    
Capitalized internal-use software $ 9,746 $ 7,059
Less: accumulated amortization (5,854) (4,508)
Capitalized internal-use software, net $ 3,892 $ 2,551
v3.25.4
Property and Equipment - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]      
Depreciation $ 11,600 $ 11,500 $ 12,000
Amortization of right-of-use assets 7,359 7,096 7,421
Capitalized internal-use software amortization expense 1,300 1,200 1,200
Capitalized implementation costs, amortization 600 300 100
Phone hardware      
Property, Plant and Equipment [Line Items]      
Amortization of right-of-use assets $ 7,400 $ 7,100 $ 7,400
v3.25.4
Accrued and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Payables and Accruals [Abstract]    
Payroll-related accruals $ 12,212 $ 11,353
Accrued vendor and professional fees 6,020 2,131
Sales and telecom taxes 3,975 2,451
Employee stock purchase plan liability 1,008 955
Third-party commissions 538 397
Other 4,166 351
Total $ 27,919 $ 17,638
v3.25.4
Leases - Schedule of Lease Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Lease expense      
Amortization of right-of-use assets $ 7,359 $ 7,096 $ 7,421
Interest on lease liabilities 1,410 1,342 1,165
Operating lease expense 5,632 5,690 5,690
Short-term lease expense 46 43 18
Variable lease expense 479 301 40
Total lease expense 14,926 14,472 14,334
Finance leases:      
Operating cash outflow from finance leases 1,410 1,342 1,165
Financing cash outflow from finance leases 7,168 7,060 7,530
Operating leases:      
Operating cash outflow from operating leases $ 5,762 $ 5,721 $ 5,574
Finance leases:      
Weighted-average remaining lease term (years) 1 year 9 months 18 days    
Weighted-average discount rate 10.80%    
Operating leases:      
Weighted-average remaining lease term (years) 7 years 1 month 6 days    
Weighted-average discount rate 3.90%    
v3.25.4
Leases - Narrative (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
lease
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Oct. 31, 2025
Lessee, Lease, Description [Line Items]        
Sublease agreement renewal term       3 years
Number of leases | lease 90      
Phone hardware $ 21,400      
Amortization of right-of-use assets 7,359 $ 7,096 $ 7,421  
Phone hardware lease        
Lessee, Lease, Description [Line Items]        
Amortization of right-of-use assets 7,400 7,100 7,400  
Office Space        
Lessee, Lease, Description [Line Items]        
Operating lease expense $ 5,600 $ 5,500 $ 5,500  
v3.25.4
Leases - Schedule of Maturities of Operating Lease Liabilities (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Leases [Abstract]  
2026 $ 6,083
2027 6,009
2028 6,139
2029 6,292
2030 6,450
Thereafter 13,953
Total 44,926
Less: imputed interest (5,714)
Present value of operating lease obligations $ 39,212
v3.25.4
Leases - Schedule of Revenue in Leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Phone hardware revenue $ 6,792 $ 4,662 $ 4,521
Operating Lease Income Comprehensive Income Extensible List Not Disclosed Flag Phone hardware revenue    
Sublease income $ 877 877 658
Total $ 7,669 $ 5,539 $ 5,179
v3.25.4
Leases - Schedule of Maturities of Finance Lease Liabilities (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Leases [Abstract]  
2026 $ 7,697
2027 4,697
2028 2,062
2029 0
2030 0
Thereafter 0
Total 14,456
Less: amounts representing interest (1,516)
Present value of finance lease obligations $ 12,940
v3.25.4
Income Taxes - Loss Before Tax (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
United States $ (30,088) $ (28,776) $ (30,622)
Foreign 1,112 619 (149)
Loss before income taxes $ (28,976) $ (28,157) $ (30,771)
v3.25.4
Income Taxes - Tax Provisions (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current      
Federal $ 0 $ 0 $ 0
State 76 9 53
Foreign 343 226 247
Deferred      
Federal (1,233) 0 0
State (46) 0 0
Foreign (64) (46) (40)
Total $ (924) $ 189 $ 260
v3.25.4
Income Taxes - Effective Tax Rate Reconciliation (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Statutory federal tax rate 21.00% 21.00% 21.00%
State tax, net of federal tax effect 1.75% 3.80% 2.70%
Stock-based compensation 13.97% 22.76% 7.54%
Section 162(m) (21.01%) (22.67%) (13.40%)
Change in valuation allowance (11.36%) (32.87%) (19.97%)
Other (1.16%) 7.31% 1.29%
Effective tax rate 3.19% (0.67%) (0.84%)
v3.25.4
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Deferred tax assets:        
Net operating losses $ 56,267 $ 51,550    
Sales and use tax reserves 253 197    
Stock-based compensation 2,360 2,914    
Compensation related accruals 1,889 1,307    
Interest expense limitations 0 309    
Leases - Right-of-use liability 9,742 10,749    
Other 571 327    
Fixed assets 598 651    
Capitalized research expenses 15,064 11,082    
Valuation allowance (70,195) (64,119) $ (54,867) $ (48,723)
Total deferred tax assets - net 16,549 14,967    
Deferred tax liabilities:        
Intangible assets (2,003) (367)    
Leases - Right-of-use asset (8,392) (9,360)    
Deferred contract costs (5,978) (5,129)    
Total deferred tax liabilities (16,373) (14,856)    
Net deferred taxes assets $ 176 $ 111    
v3.25.4
Income Taxes - Valuation Allowance (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deferred Tax Asset, Valuation Allowance [Roll Forward]      
Balance at beginning of the year $ 64,119 $ 54,867 $ 48,723
Charged to benefit or expense 6,076 9,252 6,144
Balance at end of the year $ 70,195 $ 64,119 $ 54,867
v3.25.4
Income Taxes - Narrative (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Operating Loss Carryforwards [Line Items]  
Net operating loss carryforwards not subject to limitation $ 195.6
US Federal  
Operating Loss Carryforwards [Line Items]  
Net operating loss carryforwards 227.5
State  
Operating Loss Carryforwards [Line Items]  
Net operating loss carryforwards $ 170.9
v3.25.4
Related Party Transactions (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Related Party Transactions [Abstract]      
Related party transactions $ 0 $ 0 $ 0
v3.25.4
Commitments and Contingencies - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]      
Purchases under commitments $ 11.3 $ 1.6 $ 0.0
v3.25.4
Commitments and Contingencies - Contractual Commitments (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
2026 $ 10,064
2027 10,824
2028 2,557
2029 49
2030 0
Thereafter 0
Total $ 23,494
v3.25.4
Debt (Details) - Line of Credit - USD ($)
 1 Months Ended
Aug. 31, 2021
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]      
Line of credit   $ 0 $ 0
Revolving credit facility      
Debt Instrument [Line Items]      
Borrowing capacity $ 50,000,000.0 $ 50,000,000.0 $ 50,000,000.0
Basis spread on variable rate (percent) 0.25%    
Debt agreement fee $ 100,000    
Debt covenant, minimum unrestricted cash and cash equivalents 100,000,000.0    
Debt covenant, minimum consolidated liquidity $ 20,000,000.0    
Revolving credit facility | Minimum      
Debt Instrument [Line Items]      
Interest rate, minimum (percent) 3.50%    
v3.25.4
Stockholders’ Equity - Equity Based Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total $ 32,131 $ 32,220 $ 22,823
Cost of revenue      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total 894 1,014 971
Sales and marketing      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total 7,510 6,582 4,233
Research and development      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total 8,806 8,374 5,590
General and administrative      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total $ 14,921 $ 16,250 $ 12,029
v3.25.4
Stockholders’ Equity - Narrative (Details) - USD ($)
$ in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended
Oct. 31, 2021
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Nov. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Stock-based compensation expense       $ 32,131 $ 32,220 $ 22,823    
Aggregate intrinsic value of options exercised       1,600 $ 2,500 $ 3,900    
Unrecognized equity-based compensation expense       $ 0        
Granted (in shares)       0 0 0    
Withheld for tax withholding obligation (in shares)              
Payments for taxes related to net share settlement of equity awards       $ 2,861 $ 18,855 $ 10,388    
Common Stock                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Withheld for tax withholding obligation (in shares)       396,459 1,634,949 1,333,489    
Restricted stock units                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting term         3 years      
Granted (in shares)       4,991,790        
Shares vested in period, fair value (in shares)       $ 33,500 $ 24,700 $ 20,500    
Nonvested award, cost not yet recognized, amount       $ 49,000        
Restricted stock units | Share-based Payment Arrangement, Tranche One                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting term         1 year      
Vesting percentage         33.00%      
Restricted stock units | Share-based Payment Arrangement, Tranche Two                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting term         2 years      
Vesting percentage         67.00%      
Restricted stock units | Non-Employee Directors With Three-Year Vesting Schedule                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting term         3 years      
Granted (in shares)         43,747      
Restricted stock units | Non-Employee Directors With Three-Year Vesting Schedule | Share-based Payment Arrangement, Tranche One                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting term         1 year      
Vesting percentage         33.00%      
Restricted stock units | Non-Employee Directors With Three-Year Vesting Schedule | Share-based Payment Arrangement, Tranche Two                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting term         2 years      
Vesting percentage         67.00%      
Restricted stock units | Non-Employee Directors With One-Year Vesting Schedule                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting term         1 year      
Granted (in shares)         147,234      
Vesting percentage         100.00%      
Restricted stock units | Non-Employee Directors With One-Year Vesting Schedule | Share-based Payment Arrangement, Tranche Two                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting term         1 year      
Employee stock purchase plan                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Number of shares authorized (in shares)       4,034,053 3,301,800 2,600,637    
Number of additional shares authorized (in shares)   732,253            
Stock-based compensation expense       $ 900 $ 900 $ 700    
Contribution limit as a percent of base compensation (in percent) 50.00%              
Purchase price of stock (in percent) 85.00%              
Maximum number of shares per employee (in shares) 2,500              
Shares issued during period (in shares)       925,887 677,635 457,593    
Offering period       6 months        
Employee contributions withheld       $ 1,000 $ 1,000      
Unrecognized compensation costs       $ 100        
Minimum | Restricted stock units                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Vesting term       3 years        
Weighted Average | Restricted stock units                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Nonvested award, cost not yet recognized, period for recognition       2 years 1 month 13 days        
2021 Equity Incentive Plan                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Number of shares authorized (in shares)               9,000,000.0
Number of additional shares authorized (in shares)   3,700,000 3,500,000          
2022 Inducement Equity Incentive Plan                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Number of shares authorized (in shares)             7,000,000.0  
Equity Incentive Plan                
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                
Stock-based compensation expense       $ 31,300 $ 31,400 $ 22,100    
v3.25.4
Stockholders’ Equity - Stock Option Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Number of Stock Options    
Beginning balance (in shares) 1,461,110  
Exercisable as of beginning of the period (in shares) 1,400,993  
Exercised (in shares) (228,134)  
Forfeited and expired (in shares) (4,609)  
Ending balance (in shares) 1,228,367 1,461,110
Exercisable as of end of the period (in shares) 1,228,367 1,400,993
Weighted Average Exercise Price    
Beginning balance (in dollars per share) $ 4.01  
Exercisable as of beginning of the period (in dollars per share) 3.88  
Exercised (in dollars per share) 3.41  
Forfeited and expired (in dollars per share) 6.65  
Ending balance (in dollars per share) 4.10 $ 4.01
Exercisable as of end of the period (in dollars per share) $ 4.10 $ 3.88
Weighted Average Remaining Contractual Life (years)    
Outstanding 3 years 1 month 13 days 4 years 6 months 14 days
Exercisable 3 years 1 month 13 days 4 years 5 months 15 days
Aggregate Intrinsic Value (in thousands)    
Aggregate Intrinsic Value, Outstanding $ 4,282 $ 17,408
Aggregate Intrinsic Value, Exercisable $ 4,282 $ 16,866
v3.25.4
Stockholders’ Equity - Restricted Stock Unit Activity (Details) - Restricted stock units
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
Number of Shares  
Beginning balance outstanding (in shares) | shares 6,675,938
Granted (in shares) | shares 4,991,790
Vested (in shares) | shares (4,116,763)
Forfeited (in shares) | shares (1,452,886)
Ending balance outstanding (in shares) | shares 6,098,079
Weighted Average Grant Date Fair Value  
Beginning balance outstanding (in dollars per share) | $ / shares $ 8.93
Granted (in dollars per share) | $ / shares 9.18
Vested (in dollars per share) | $ / shares 8.13
Forfeited (in dollars per share) | $ / shares 10.00
Ending balance outstanding (in dollars per share) | $ / shares $ 9.42
v3.25.4
Stockholders’ Equity - Fair Value Assumptions (Details) - Employee stock purchase plan
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Risk free interest rate, minimum 4.13% 5.02%  
Risk free interest rate, maximum 4.34% 5.31%  
Risk free interest rate     5.54%
Expected term 6 months 6 months 6 months
Expected volatility, minimum 37.97% 59.98%  
Expected volatility, maximum 62.50% 67.16%  
Expected volatility     67.16%
Dividend yield 0.00% 0.00% 0.00%
v3.25.4
Net Loss Per Share - Calculation of Basic and Diluted Net Loss Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Numerator:      
Net loss $ (28,052) $ (28,346) $ (31,031)
Denominator:      
Weighted-average common shares outstanding - basic (in shares) 76,306,740 71,656,892 67,694,978
Weighted-average common shares outstanding - diluted (in shares) 76,306,740 71,656,892 67,694,978
Net loss per share      
Net loss per share, basic (in dollars per share) $ (0.37) $ (0.40) $ (0.46)
Net loss per share, diluted (in dollars per share) $ (0.37) $ (0.40) $ (0.46)
v3.25.4
Net Loss Per Share - Antidilutive Securities (Details) - shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities (in shares) 7,482,688 8,271,654 9,469,482
Options to purchase common stock      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities (in shares) 1,228,367 1,461,110 1,840,735
Number of shares issuable from ESPP      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities (in shares) 156,242 134,606 123,899
Restricted stock units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities (in shares) 6,098,079 6,675,938 7,504,848
v3.25.4
Retirement Plan (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Retirement Benefits [Abstract]      
Maximum employee contribution limit $ 23,500 $ 23,000 $ 22,500
Employer matching contributions $ 4,000,000.0 $ 3,300,000 $ 3,400,000
v3.25.4
Segment Reporting - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 1
v3.25.4
Segment Reporting - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]      
Total revenue $ 239,024 $ 204,314 $ 170,468
Costs and Expenses:      
Net loss (28,052) (28,346) (31,031)
Reportable Segment      
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]      
Total revenue 239,024 204,314 170,468
Costs and Expenses:      
Direct costs of goods sold 39,854 34,479 31,323
Payroll and employee-related costs 168,709 151,456 130,865
Marketing costs 21,518 15,888 11,243
Partner costs 5,422 4,134 3,365
Professional fees 7,117 5,269 4,812
Facilities costs 9,164 8,176 8,068
Software costs 13,115 11,756 10,651
Capitalized software deferred costs (2,695) (2,328) (1,903)
Other segment items 4,872 3,830 3,075
Net loss $ (28,052) $ (28,346) $ (31,031)