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 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.
Bandwidth Inc. (NASDAQ: BAND) announced a significant partnership with Pindrop, integrating its voice authentication technology into Bandwidth's cloud platform. This integration offers enterprise contact centers a swift transition to the cloud with built-in anti-fraud capabilities. The partnership is positioned as a response to a critical rise in fraud attacks and call volume, making it easier for businesses to enhance security while streamlining operations. Enterprises can utilize Bandwidth’s CCaaS solutions alongside Pindrop's technology to optimize their telecommunications infrastructure.
Bandwidth reported strong financial results for Q4 and the full year ended December 31, 2021. Total revenue for Q4 was $126 million, a rise from $113 million in 2020, while annual revenue surged to $491 million from $343 million. CPaaS revenue increased to $101 million in Q4 and $414 million for the year. Despite a net loss of $8 million for Q4, non-GAAP net income was $2 million. The company projected Q1 2022 revenue between $125-$127 million and full-year revenue of $547-$555 million while expecting an adverse impact of $16-$24 million from DDoS attacks.
Bandwidth Inc. (NASDAQ: BAND) has announced the appointment of Anthony Bartolo as Chief Operating Officer, effective Feb. 28, 2022. Bartolo brings over 30 years of experience in cloud communications, having held leadership roles at Avaya, Tata Communications, and Nortel. He is expected to drive new enterprise customer acquisition and enhance Bandwidth's position as a leading global communications platform. His previous role at Avaya saw an 11-fold increase in annual recurring revenue, indicating potential for growth at Bandwidth.
Bandwidth Inc. (NASDAQ: BAND) will report its financial results for Q4 and the full year ending December 31, 2021, post-market on February 23, 2022. A live conference call is scheduled for 5:00 p.m. ET, accessible via the Investor Relations section of their website. An audio replay will be available following the call, lasting until March 2, 2022. Bandwidth, a leader in global cloud communications, serves major clients like Cisco and Google through its robust CPaaS solutions.
Bandwidth Inc. (BAND) announced the launch of Duet for Genesys, a Bring Your Own Carrier (BYOC) solution designed to streamline enterprise contact centers' migration to the cloud. This collaboration with Genesys aims to simplify the complexities of managing on-premises equipment across multiple locations. Bandwidth's solution allows companies to retain essential call data while enhancing flexibility and scalability. Notably, it serves significant clients, including a Fortune 200 managed care provider and a global leader in electronic agreements, emphasizing the growing demand for cloud-based customer experience solutions.
Bandwidth (NASDAQ: BAND) has appointed Rebecca Bottorff, the Chief People Officer, to its board of directors, expanding the board to six members. Bottorff, with nearly 30 years of experience, has been pivotal in developing Bandwidth's unique culture and has played key roles during significant company milestones, including its IPO. She expresses excitement for this new chapter, emphasizing the importance of talent and culture in global competitiveness. This strategic move is expected to provide valuable insights as Bandwidth continues its growth trajectory.
Bandwidth Inc. (NASDAQ: BAND) announced three new partnerships enhancing its 911 emergency services capabilities ahead of the January 6, 2022 compliance deadline for the RAY BAUM'S Act. Collaborating with 911 Secure, 911inform, and 9Line Software, Bandwidth will offer a comprehensive emergency services solution tailored for large enterprises. These integrations will support popular IP-based communication systems. Bandwidth's services aim to ensure regulatory compliance while improving operational efficiency and safety for remote and on-site workers.
Bandwidth Inc. (NASDAQ: BAND) announced significant growth in healthcare digital communications post-pandemic, emphasizing its unified software platform for patient engagement. The company aids healthcare providers in transitioning legacy telephony to cloud solutions, enhancing accessibility and efficiency. Bandwidth recently secured a deal with a $16 billion Fortune 200 managed care provider to modernize its communications. The firm continues to serve leading patient engagement app developers, demonstrating its pivotal role in the telehealth transformation.
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