Weave Communications, Inc.WEAV
Weave Communications, Inc. Fair Value Disclosure
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 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
| Cash equivalents | |||||||||||||||||||||||
| Money market funds | $ | 35,785 | $ | — | $ | — | $ | 35,785 | |||||||||||||||
| Short-term investments | |||||||||||||||||||||||
| US government and agency securities | 17,129 | — | 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 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
| Cash equivalents | |||||||||||||||||||||||
| Money market funds | $ | 31,708 | $ | — | $ | — | $ | 31,708 | |||||||||||||||
| Short-term investments | |||||||||||||||||||||||
| US government and agency securities | 32,323 | — | 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 Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||||||||||
| Short-term investments | |||||||||||||||||||||||
| US government and agency securities | $ | 17,122 | $ | 7 | $ | — | $ | 17,129 | |||||||||||||||
| Commercial paper | 9,632 | 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 Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||||||||||
| Short-term investments | |||||||||||||||||||||||
| US government and agency securities | $ | 32,309 | $ | 23 | $ | (9) | $ | 32,323 | |||||||||||||||
| Commercial paper | 15,203 | 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 Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair 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 Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair 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.Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 5, 2026 | Showing above |
| 2024 | Mar 13, 2025 | |
| 2023 | Mar 13, 2024 | |
| 2022 | Mar 16, 2023 | |
| 2021 | Mar 23, 2022 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.