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) issued a statement addressing a recent DDoS attack affecting its services and the VoIP industry. Following mitigation efforts, the network has stabilized, with normal service levels restored by Sept. 29. CEO David Morken acknowledged customer support during this challenging time and emphasized ongoing collaboration to enhance the industry's defenses against such attacks. The company is committed to transparency and integrity while working with clients to maintain robust communication services. Bandwidth aims to share insights gained from this incident to improve overall ecosystem security.
Bandwidth Inc. (NASDAQ: BAND) has announced its participation as a charter member of Zoom's Phone Provider Exchange, enhancing its role as a cloud peering collaborator. This program allows Zoom's enterprise customers to 'Bring Your Own Carrier' (BYOC), enabling them to work directly with Bandwidth for SIP trunking and emergency services. Bandwidth aims to provide scalable and flexible telecommunications solutions across multiple platforms, including Zoom, Microsoft Teams, and RingCentral, while maintaining compliance with crucial regulations.
Bandwidth Inc. (NASDAQ: BAND) announced its role in enhancing digital communication for property technology (PropTech) firms in the booming U.S. housing market. As buyers and sellers transition to digital tools, Bandwidth provides essential voice and messaging services to improve real estate transactions. Innovations include Clever Real Estate's agent selection platform, Rently's self-touring technology, and ShowingTime's online scheduling tool, enabling smoother processes and improved customer experiences.
Bandwidth Inc. (NASDAQ: BAND) has been recognized as one of the Best Places to Work in the Triangle, N.C., for the second consecutive year, based on employee engagement survey results. The company attributes its success to a strong mission-first culture, which has led to consistent customer satisfaction above 97%. This year, 25% of team members received promotions, and various wellness initiatives, such as 90-minute workout lunches and Mahalo Moments, emphasize employee health and well-being. The award highlights Bandwidth's commitment to fostering a positive workplace environment.
Bandwidth Inc. (NASDAQ: BAND) has been recognized as the top CPaaS provider in Omdia's SIP Trunking Service Provider Scorecard for 2021. Bandwidth ranks third overall, outperforming competitors like Twilio and Inteliquent. The company demonstrated strong market momentum with significant growth attributed to the acquisition of Voxbone. Analysts commend Bandwidth for its excellence in security, reliability, and flexible API solutions, essential for modern business communications.
Bandwidth (NASDAQ: BAND), a leading global enterprise communications platform, announced its participation in several upcoming virtual investor conferences. Key events include a fireside chat with President Marina Carreker and CFO Jeff Hoffman at the KeyBanc Technology Leadership Forum on August 10 at 1:20 PM ET, and another chat with President Carreker at the Canaccord Genuity 41st Annual Growth Conference on August 11 at 4:30 PM ET. Investor meetings will also be hosted by VP Investor Relations Sarah Walas on September 9. Live webcasts will be available on the company’s Investor Relations website.
Bandwidth reported its Q2 2021 results, achieving a 57% year-over-year growth in total revenue, reaching $120.7 million. CPaaS revenue also increased by 57% to $105.0 million, driven by robust demand and the acquisition of Voxbone. Non-GAAP net income rose to $8.6 million or $0.32 per share, compared to $3.1 million the previous year. Despite a net loss of $(6.9) million, the company reported a 114% dollar-based net retention rate and forecasted Q3 total revenue between $123.6 million and $124.6 million.
Bandwidth (NASDAQ: BAND) announced a new "Bring Your Own Carrier" (BYOC) solution for RingCentral (NYSE: RNG) that enhances its Duet platform. This solution helps large enterprises transition their legacy communications to the cloud, enabling greater flexibility and control. With nearly 40% of companies on-premises planning a cloud migration by 2021, Bandwidth's offering aims to address migration challenges. The BYOC solution integrates Bandwidth's services with RingCentral's capabilities, supporting global communications and operational efficiencies.
Bandwidth Inc. (NASDAQ: BAND) announced it will release its second-quarter financial results on August 5, 2021, after market close. A conference call for investors and analysts will follow at 5:00 p.m. ET the same day. To join, U.S. callers can dial (877) 224-6304, and international callers can reach (212) 231-2908. An audio replay will be available after the call until August 12, 2021. Bandwidth is recognized for its cloud communications services, partnering with major companies like Cisco and Google.
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