LEHI, Utah - Weave (NYSE: WEAV), a comprehensive experience platform serving small and medium-sized healthcare practices, announced today the hiring of David McNeil as its Chief Revenue Officer. McNeil, a seasoned executive with a background in scaling Software as a Service (SaaS) businesses, will oversee Weave's sales, customer success, revenue operations, and payments teams.
McNeil's experience spans more than 25 years in SaaS, payments, and strategic partnerships. His previous roles include significant contributions at HubSpot (NYSE:HUBS), where he was part of the leadership team that saw the company's annual recurring revenue soar from $90 million to over $990 million. McNeil also held the position of CRO at Envoy and served as Chief Commercial Officer at Tebra.com, an automation platform for independent healthcare practices.
The CEO of Weave, Brett White, expressed confidence in McNeil's ability to contribute to the company's growth, emphasizing his leadership and strategic prowess. White noted that McNeil's addition to the executive team is expected to enhance the company's ability to deliver exceptional patient experiences for healthcare customers.
McNeil's appointment comes at a time when the healthcare industry is experiencing growth and the operational complexities of managing independent practices are increasing. Weave is focusing on expanding strategic partnerships and payment solutions, particularly for practices with multiple locations.
Commenting on his new role, McNeil highlighted the significant opportunity at the intersection of SMB healthcare and technology. He praised Weave's growth trajectory, its impact on over 30,000 customers, and the company's commitment to user experience. McNeil conveyed his excitement about contributing to Weave's progress and the potential to improve healthcare experiences.
InvestingPro Insights
As Weave (NYSE: WEAV) welcomes David McNeil to its executive team, the company's financial health and market performance remain pivotal to its growth ambitions. With a market capitalization of $901.08 million, Weave is navigating through a dynamic phase, marked by a notable 19.22% revenue growth over the last twelve months as of Q3 2023. This growth is underpinned by a solid gross profit margin of 67.37%, reflecting the company's ability to maintain profitability amidst its expansion efforts.
InvestingPro Tips highlight that Weave holds more cash than debt on its balance sheet, providing a cushion for strategic maneuvers like the hiring of McNeil. Analysts have revised their earnings upwards for the upcoming period, suggesting optimism about Weave's future performance. However, it is important to note that analysts do not anticipate the company will be profitable this year, and the stock price movements are quite volatile. The company's strong returns over the last year, with a 152.33% one-year price total return, mirror the potential that McNeil's leadership could further unlock.
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