Bandwidth Inc. - BAND STOCK NEWS

Bandwidth (NASDAQ: BAND) announced Brandon Asbill as its new General Counsel, effective January 18, 2021. With over 20 years of legal experience, Asbill previously worked at Red Hat, where he led teams on over 20 acquisitions totaling more than $1.5 billion and played a key role in IBM's $34 billion acquisition of Red Hat. His expertise in corporate governance, compliance, and data privacy is set to support Bandwidth's growth as an international company. Asbill replaces Chris Matton, who has departed from the firm.

Bandwidth Inc. (NASDAQ: BAND) announced the pricing of a secondary offering for 663,394 shares of its Class A common stock by VIP II Nominees Limited at $152.00 per share, set to close on November 5, 2020. This move will enable the Selling Stockholder to divest all its shares in the company. Morgan Stanley is serving as the underwriter for the offering. Investors are advised to review the prospectus filed with the SEC for more detailed information regarding the offering.

Bandwidth, a leading enterprise cloud communications company, announced a secondary offering of 663,394 shares of its Class A common stock by the Selling Stockholder, VIP II Nominees Limited. This offering will occur under the company's existing shelf registration filed with the SEC, with the Selling Stockholder receiving all proceeds. The stock was last priced at $157.85, and the offering is expected to close on November 5, 2020. Morgan Stanley will act as the underwriter. The company emphasizes that no shares are being sold by it, and investors should review the related prospectus for further information.

Bandwidth Inc. (NASDAQ: BAND) will participate in the Needham Virtual Security, Networking, and Communications Conference on November 17, 2020, at 3:45 p.m. ET. Jeff Hoffman, CFO, is scheduled to present at the event. Investors can access a live webcast and replay from the company's website. Bandwidth is recognized for its enterprise cloud communications, providing APIs for companies like Google and Microsoft, leveraging one of the largest nationwide IP voice networks.

Bandwidth (NASDAQ: BAND) announced the appointment of new leaders to enhance its executive management team, aiming for continued growth and global expansion. Key appointments include Marina Carreker as President, John Bell as Chief Product Officer, Ryan Henley as Chief Customer Officer, Michelle Flynn as Senior Vice President of Operations, and Amaya Lantero as GM of International. The company also noted the resignation of Chris Matton, General Counsel, who will remain until March 31, 2021. CEO David Morken emphasized that these leaders will drive the company's strategic initiatives and enhance customer experience.

Bandwidth (NASDAQ: BAND) has completed its acquisition of Voxbone for an enterprise value of €446 million (approximately $519.4 million). This transaction accelerates Bandwidth's international strategy, expanding its presence to over 60 countries, covering 93% of the world's GDP. The payment to Voxbone shareholders included €354.6 million in cash and 663,394 shares of Bandwidth stock. Voxbone will operate under the Bandwidth brand, enhancing their cloud communications capabilities and integrating seamlessly with clients like Zoom and Dialpad.

Bandwidth Inc. (NASDAQ: BAND) reported record financial results for Q3 2020, achieving a total revenue of $84.8 million, a 40% increase from $60.5 million in Q3 2019. CPaaS revenue rose 43% to $73.8 million. Gross profit reached $39.2 million, with a gross margin of 46%. Despite a net loss of $(2.4) million, non-GAAP net income was $6.5 million, with adjusted EBITDA at $9.3 million. Bandwidth raised its revenue outlook for the full year, anticipating total revenue between $326.6 million and $327.1 million by year-end.

Relay, a children's smartphone company, has partnered with Bandwidth to enhance 911 call capabilities. This innovative solution allows parents to send emergency help directly to their child's location via the Relay device, using Bandwidth's E911 Dynamic Location Routing. The feature enables faster response times and improved safety, significantly enhancing the device's appeal for safety-conscious families. The partnership aims to provide peace of mind for parents, ensuring that help can quickly reach children in emergencies.

Bandwidth Inc. (NASDAQ: BAND) will release its third-quarter financial results for the period ending September 30, 2020, on October 29, 2020, after market close. A conference call and live webcast will be held at 5:00 PM Eastern Time on the same day to discuss these results. Investors can access the call by dialing (855) 327-6837 in the U.S. or (631) 891-4304 internationally. An audio replay will be available post-call until November 5, 2020. Bandwidth is a leading firm in cloud communications, providing APIs used by major companies including Google and Microsoft.