Welcome to our dedicated page for Bandwidth news (Ticker: BAND), a resource for investors and traders seeking the latest updates and insights on Bandwidth stock.
Bandwidth Inc. (NASDAQ: BAND) is a leading global communications software company focused on transforming the way people communicate. Unlike traditional telecom providers, Bandwidth leverages its cloud-based Communications Platform-as-a-Service (CPaaS) to enable enterprises to create, scale, and operate voice and messaging services across any application or device. The company is well-known for powering communications technologies used by giants like Google, Skype, and RingCentral.
Bandwidth's core business revolves around offering robust API solutions that facilitate a variety of communication services including voice calls, text messaging, and emergency services. Their revolutionary platform, Bandwidth Maestro™, provides a next-generation enterprise cloud communications environment designed to integrate real-time voice apps across unified communications, cloud contact centers, and AI platforms. This is achieved through their composable APIs, owner-operated network, and extensive regulatory experience
In recent news, Bandwidth announced financial results for Q3 2023, exceeding both revenue and profitability guidance. The company posted a revenue of $146 million and Adjusted EBITDA of $11 million for Q2 2023, followed by strong performance in Q3. Bandwidth also launched AIBridge, a solution developed in partnership with Google and Cognigy, which allows enterprises to deploy voice-based AI tools to enhance contact center operations.
Financially, Bandwidth is in a solid position. The company has shown a consistent pattern of profitable growth, with a notable increase in commercial messaging and enterprise businesses. They also managed to enhance their capital structure by upsizing their revolving credit facility to $100 million and repurchasing $140 million of their 2026 convertible notes at a discount.
Bandwidth's customer base spans over 65 countries and covers over 90% of global GDP. The company's award-winning support teams are renowned for helping businesses solve complex communication problems, ensuring that Bandwidth remains at the forefront of the cloud communications industry.
Looking forward, Bandwidth has set ambitious goals for 2024, including double-digit revenue growth and a significant increase in profitability. Their continuous focus on innovation and customer success positions them well to achieve their medium-term goals laid out at their Investor Day event.
Bandwidth (NASDAQ: BAND) has expanded its partnership with GoTo, making it the primary global communications provider for GoTo's services. This collaboration will supply GoTo with a comprehensive suite of cloud-native voice, messaging, and emergency services, aimed at supporting nearly one million customers. GoTo's expansion strategy includes enhancing its unified communications platform, GoTo Connect, to ensure reliability and scalability as it grows into new markets.
Bandwidth (NASDAQ: BAND) announced the launch of Send-To, a new messaging app that enables enterprise users to send SMS texts directly from Microsoft Teams, enhancing work collaboration. This app expands on Bandwidth's Duet offering, streamlining communications and reducing the reliance on personal devices for business messaging. Camden Property Trust is among the first users, reporting a significant reduction in recruiting time. The Send-To app aims to improve efficiency, privacy, and user control, solidifying Bandwidth's partnership with Microsoft for cloud communication solutions.
Bandwidth Inc. (NASDAQ: BAND) reported its second quarter 2022 results, delivering total revenue of $136 million, an increase from $121 million in Q2 2021. The gross margin for the quarter was 41%, down from 44% year-over-year, while net loss narrowed to $6 million compared to $7 million a year prior. The company maintained its full-year guidance, projecting total revenue between $551 million to $557 million. Bandwidth showcased its commitment to enterprise customers, gaining multiple high-profile clients and achieving global ISO 27001:2013 certification for information security.
Bandwidth Inc. (NASDAQ: BAND), a global enterprise cloud communications company, will report its second-quarter financial results for the period ending June 30, 2022, after market close on August 3, 2022. A live webcast of the earnings call will occur on the same date at 5:00 p.m. Eastern Time, with details available on their Investor Relations website. The call will include a Q&A session, and a replay will be accessible shortly after. Bandwidth provides cloud-ready voice, messaging, and emergency services with a network covering over 60 countries.
Bandwidth (NASDAQ: BAND) and Alianza Inc. have partnered to enhance cloud migration for communications service providers (CSPs) in the U.S. and Canada. This partnership aims to transform legacy infrastructure, allowing over 2000 CSPs to offer competitive cloud-based services like voice, messaging, and video conferencing. Currently, they serve more than 50 CSP customers, highlighting effective collaboration. The initiative addresses rising competition from over-the-top providers, ensuring CSPs maintain strong customer relationships and adapt to new market demands.
Bandwidth Inc. (NASDAQ: BAND) has appointed Karl Perkins as Chief Innovation Officer, aiming to enhance its cloud communications technology. Perkins, previously at Avaya, will focus on driving transformational research and developing a differentiated product roadmap. His expertise in customer engagement and innovative solutions is expected to support Bandwidth's growth strategy. COO Anthony Bartolo emphasized Perkins’ reputation and leadership skills, positioning him to enhance customer partnerships and strengthen the company's global network.
Bandwidth Inc. (NASDAQ: BAND) reported a 16% year-over-year revenue increase to $131 million for Q1 2022. The company achieved a 114% dollar-based net retention rate and reported a net loss of $7 million, compared to a $5 million loss in Q1 2021. Non-GAAP net income was $3 million, down from $8 million. The gross margin dipped to 42%, while non-GAAP gross margin increased to 53%. Bandwidth raised its full-year 2022 revenue outlook to $551-$557 million and projected non-GAAP EPS of $0.10-$0.14.
Bandwidth Inc. (NASDAQ: BAND) will release its first quarter 2022 financial results after market close on May 4, 2022. The company, recognized as a leader in enterprise cloud communications, has a global network covering over 60 countries. Investors can access a live webcast of the earnings call at 4:30 p.m. ET on the same day. A replay will be available shortly after, lasting until May 11, 2022. Bandwidth's services are utilized by major companies like Cisco, Google, and Microsoft to enhance their communication capabilities.
Bandwidth Inc. (NASDAQ: BAND) has appointed Sandy Preizler as the Chief Revenue Officer, effective April 18, 2022. Preizler brings over 25 years of experience, having successfully driven revenue and profitability at major firms like NCR, Avaya, and Cisco. His achievements include managing nearly $1 billion in sales at NCR and growing revenue to $1.1 billion at Avaya. Preizler aims to enhance Bandwidth's performance-driven sales culture and capitalize on global market opportunities to accelerate growth and strengthen customer relationships.
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