What is Bandwidth Inc's earnings per share (EPS)?

Bandwidth Inc (BAND) reported diluted earnings per share of $-0.43 for fiscal year 2025. This represents a -79.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Bandwidth Inc Financials

BAND

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Bandwidth Inc (BAND) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 34/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Bandwidth Inc has an operating margin of -1.9%, meaning the company retains $-2 of operating profit per $100 of revenue. This below-average margin results in a low score of 18/100, suggesting thin profitability after operating expenses. This is up from -2.7% the prior year.

Growth

Bandwidth Inc's revenue grew a modest 0.7% year-over-year to $753.8M. This slow but positive growth earns a score of 35/100.

Leverage

Bandwidth Inc carries a low D/E ratio of 0.62, meaning only $0.62 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Bandwidth Inc's current ratio of 1.42 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 24/100, which could limit financial flexibility.

Returns

Bandwidth Inc generates a -3.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 4/100. This is down from -2.1% the prior year.

Piotroski F-Score Neutral

5/9

Bandwidth Inc passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-6.93x

For every $1 of reported earnings, Bandwidth Inc generates $-6.93 in operating cash flow ($89.5M OCF vs -$12.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-5.9x

Bandwidth Inc earns $-5.9 in operating income for every $1 of interest expense (-$14.4M vs $2.4M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$753.8M

YoY+0.7%

5Y CAGR+17.0%

10Y CAGR+18.5%

Bandwidth Inc generated $753.8M in revenue in fiscal year 2025. This represents an increase of 0.7% from the prior year.

EBITDA

$39.4M

YoY+35.0%

5Y CAGR+64.0%

10Y CAGR+10.1%

Bandwidth Inc's EBITDA was $39.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 35.0% from the prior year.

Net Income

-$12.9M

YoY-97.9%

Bandwidth Inc reported -$12.9M in net income in fiscal year 2025. This represents a decrease of 97.9% from the prior year.

EPS (Diluted)

$-0.43

YoY-79.2%

Bandwidth Inc earned $-0.43 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 79.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$102.8M

YoY+25.6%

5Y CAGR+7.3%

10Y CAGR+26.2%

Bandwidth Inc held $102.8M in cash against $247.6M in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.00

Bandwidth Inc paid $0.00 per share in dividends in fiscal year 2025.

Shares Outstanding

N/A

Margins & Returns

Gross Margin

39.1%

YoY+1.7pp

5Y CAGR-5.7pp

10Y CAGR-3.4pp

Bandwidth Inc's gross margin was 39.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.7 percentage points from the prior year.

Operating Margin

-1.9%

YoY+0.8pp

5Y CAGR+2.0pp

10Y CAGR-7.7pp

Bandwidth Inc's operating margin was -1.9% in fiscal year 2025, reflecting core business profitability. This is up 0.8 percentage points from the prior year.

Net Margin

-1.7%

YoY-0.8pp

5Y CAGR+11.1pp

10Y CAGR+3.1pp

Bandwidth Inc's net profit margin was -1.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.8 percentage points from the prior year.

Return on Equity

-3.2%

YoY-1.1pp

5Y CAGR+7.0pp

Bandwidth Inc's ROE was -3.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.1 percentage points from the prior year.

Capital Allocation

R&D Spending

$132.5M

YoY+11.7%

5Y CAGR+19.4%

10Y CAGR+33.5%

Bandwidth Inc invested $132.5M in research and development in fiscal year 2025. This represents an increase of 11.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

BAND Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$753.8M+0.7%	$748.5M+24.5%	$601.1M+4.9%	$573.2M+16.8%	$490.9M+43.1%	$343.1M
Cost of Revenue	$458.8M-2.1%	$468.5M+28.4%	$365.0M+9.0%	$334.8M+20.8%	$277.1M+46.5%	$189.2M
Gross Profit	$295.1M+5.4%	$280.0M+18.5%	$236.2M-0.9%	$238.4M+11.5%	$213.8M+38.9%	$153.9M
R&D Expenses	$132.5M+11.7%	$118.6M+13.9%	$104.2M+6.3%	$98.0M+41.0%	$69.5M+27.4%	$54.6M
SG&A Expenses	$75.2M+4.9%	$71.7M+9.7%	$65.4M-3.9%	$68.0M+5.9%	$64.2M+24.3%	$51.6M
Operating Income	-$14.4M+28.4%	-$20.1M+43.4%	-$35.5M-45.8%	-$24.3M-987.3%	-$2.2M+83.4%	-$13.5M
Interest Expense	$2.4M-18.8%	$3.0M-19.8%	$3.7M-28.8%	$5.2M-81.8%	$28.7M+74.7%	$16.4M
Income Tax	-$3.7M-51.5%	-$2.4M+17.9%	-$3.0M-30.7%	-$2.3M+40.9%	-$3.8M-125.5%	$15.0M
Net Income	-$12.9M-97.9%	-$6.5M+60.1%	-$16.3M-183.5%	$19.6M+171.5%	-$27.4M+37.8%	-$44.0M
EPS (Diluted)	$-0.43-79.2%	$-0.24+62.5%	$-0.64-33.3%	$-0.48+56.0%	$-1.09+40.4%	$-1.83

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$207.7M+8.2%	$191.9M+6.6%	$180.0M+3.3%	$174.2M-17.0%	$210.0M+8.3%	$193.9M+11.7%	$173.6M+1.5%	$171.0M
Cost of Revenue	$129.6M+9.7%	$118.1M+9.0%	$108.3M+5.5%	$102.7M-23.0%	$133.5M+10.5%	$120.7M+11.0%	$108.8M+3.1%	$105.5M
Gross Profit	$78.1M+5.8%	$73.8M+3.0%	$71.7M+0.2%	$71.5M-6.5%	$76.5M+4.6%	$73.1M+12.8%	$64.8M-1.0%	$65.5M
R&D Expenses	$37.1M+12.5%	$33.0M+4.0%	$31.7M+3.6%	$30.6M-2.5%	$31.4M+4.1%	$30.2M+7.2%	$28.1M-2.7%	$28.9M
SG&A Expenses	$19.2M+5.9%	$18.1M-4.0%	$18.8M-1.4%	$19.1M-2.3%	$19.6M+11.3%	$17.6M+5.2%	$16.7M-6.4%	$17.8M
Operating Income	-$3.9M-95.5%	-$2.0M+46.4%	-$3.7M+20.0%	-$4.7M-75.5%	-$2.7M-197.4%	-$898K+85.2%	-$6.1M+41.7%	-$10.4M
Interest Expense	$597K+0.2%	$596K0.0%	$596K-5.7%	$632K-2.0%	$645K-0.2%	$646K-17.7%	$785K-13.5%	$907K
Income Tax	-$1.5M+35.8%	-$2.3M-1777.2%	$136K+294.3%	-$70K+94.0%	-$1.2M-58.6%	-$734K-121.8%	-$331K-65.5%	-$200K
Net Income	-$3.0M-141.7%	-$1.2M+74.8%	-$4.9M-31.8%	-$3.7M-112.6%	-$1.8M-525.9%	$413K-89.8%	$4.1M+143.9%	-$9.2M
EPS (Diluted)	N/A	$-0.04+75.0%	$-0.16-23.1%	$-0.13	N/A	$0.01+105.9%	$-0.17+51.4%	$-0.35

BAND Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.1B+6.4%	$989.2M-10.2%	$1.1B+18.5%	$929.3M-12.8%	$1.1B+19.6%	$890.6M
Current Assets	$219.1M+16.6%	$187.8M-25.7%	$252.8M-9.6%	$279.6M-32.3%	$412.9M+113.3%	$193.6M
Cash & Equivalents	$102.8M+25.6%	$81.8M-38.0%	$132.0M+16.1%	$113.6M-65.7%	$331.5M+359.3%	$72.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$91.4M+5.7%	$86.5M+10.6%	$78.2M+5.0%	$74.5M+20.9%	$61.6M+11.5%	$55.2M
Goodwill	$356.8M+12.5%	$317.2M-5.5%	$335.9M+2.9%	$326.4M-5.2%	$344.4M-7.5%	$372.2M
Total Liabilities	$652.7M-3.5%	$676.6M-15.8%	$803.7M+22.3%	$657.1M+0.6%	$652.9M+41.7%	$460.7M
Current Liabilities	$154.1M+9.8%	$140.3M+14.3%	$122.8M+7.7%	$114.0M+21.9%	$93.5M+1.4%	$92.2M
Long-Term Debt	$247.6M-12.0%	$281.3M-32.8%	$418.5M-12.9%	$480.5M-1.2%	$486.4M+72.4%	$282.2M
Total Equity	$400.0M+28.0%	$312.5M+5.1%	$297.4M+9.3%	$272.2M-34.0%	$412.6M-4.0%	$429.9M
Retained Earnings	-$84.3M-18.1%	-$71.4M-10.1%	-$64.9M-33.7%	-$48.5M+36.8%	-$76.9M-55.3%	-$49.5M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$1.1B+1.9%	$1.0B+1.1%	$1.0B+6.0%	$964.4M-2.5%	$989.2M-3.9%	$1.0B+2.8%	$1.0B-7.7%	$1.1B
Current Assets	$219.1M+13.5%	$193.0M+9.4%	$176.4M+16.5%	$151.4M-19.4%	$187.8M-5.5%	$198.7M+9.5%	$181.4M-29.4%	$257.0M
Cash & Equivalents	$102.8M+40.1%	$73.4M+22.0%	$60.1M+67.4%	$35.9M-56.1%	$81.8M+9.2%	$74.9M+20.8%	$62.0M-41.1%	$105.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$91.4M-2.1%	$93.4M+4.7%	$89.2M+2.5%	$87.0M+0.6%	$86.5M-13.2%	$99.6M+16.4%	$85.6M-4.3%	$89.5M
Goodwill	$356.8M-0.1%	$357.0M+0.2%	$356.2M+8.2%	$329.3M+3.8%	$317.2M-6.8%	$340.4M+4.3%	$326.2M-0.7%	$328.6M
Total Liabilities	$652.7M+1.9%	$640.6M+0.4%	$637.9M+3.1%	$619.0M-8.5%	$676.6M-2.4%	$693.2M-0.2%	$694.7M-11.8%	$787.3M
Current Liabilities	$154.1M+10.6%	$139.3M+3.2%	$134.9M+16.5%	$115.7M-17.5%	$140.3M-8.7%	$153.7M-1.8%	$156.5M+43.9%	$108.7M
Long-Term Debt	$247.6M+0.1%	$247.3M+0.1%	$247.0M+0.1%	$246.8M-12.3%	$281.3M+0.1%	$281.0M+0.1%	$280.7M-33.0%	$419.0M
Total Equity	$400.0M+1.8%	$392.7M+2.1%	$384.5M+11.3%	$345.4M+10.5%	$312.5M-7.1%	$336.6M+9.5%	$307.4M+3.1%	$298.2M
Retained Earnings	-$84.3M-3.7%	-$81.3M-1.5%	-$80.1M-6.6%	-$75.2M-5.2%	-$71.4M-2.5%	-$69.7M+0.6%	-$70.1M+5.5%	-$74.1M

BAND Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$89.5M+6.7%	$83.9M+115.1%	$39.0M+11.7%	$34.9M-14.5%	$40.8M+803.1%	$4.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$12.3M
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	-$7.8M
Investing Cash Flow	-$39.1M-2608.5%	-$1.4M-104.7%	$30.8M+123.1%	-$133.4M-4810.5%	$2.8M+100.6%	-$455.1M
Financing Cash Flow	-$29.1M+77.9%	-$131.3M-148.7%	-$52.8M+56.0%	-$120.0M-158.0%	$207.0M-40.3%	$346.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$38.6M+73.6%	$22.2M-29.9%	$31.7M+1128.9%	-$3.1M-108.4%	$36.5M+78.4%	$20.5M-16.3%	$24.4M+891.3%	$2.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$9.0M-12.7%	-$8.0M+2.9%	-$8.2M+40.5%	-$13.8M-341.6%	-$3.1M-144.8%	$7.0M-67.8%	$21.7M+180.4%	-$27.0M
Financing Cash Flow	$8K+188.9%	-$9K+73.5%	-$34K+99.9%	-$29.0M-15.5%	-$25.1M-66.2%	-$15.1M+83.0%	-$89.2M-4837.1%	-$1.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BAND Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	39.1%+1.7pp	37.4%-1.9pp	39.3%-2.3pp	41.6%-2.0pp	43.5%-1.3pp	44.9%
Operating Margin	-1.9%+0.8pp	-2.7%+3.2pp	-5.9%-1.7pp	-4.2%-3.8pp	-0.5%+3.5pp	-3.9%
Net Margin	-1.7%-0.8pp	-0.9%+1.8pp	-2.7%-6.1pp	3.4%+9.0pp	-5.6%+7.3pp	-12.8%
Return on Equity	-3.2%-1.1pp	-2.1%+3.4pp	-5.5%-12.7pp	7.2%+13.8pp	-6.6%+3.6pp	-10.2%
Return on Assets	-1.2%-0.6pp	-0.7%+0.8pp	-1.5%-3.6pp	2.1%+4.7pp	-2.6%+2.4pp	-4.9%
Current Ratio	1.42+0.1	1.34-0.7	2.06-0.4	2.45-2.0	4.42+2.3	2.10
Debt-to-Equity	0.62-0.3	0.90-0.5	1.41-0.4	1.77+0.6	1.18+0.5	0.66
FCF Margin	N/A	N/A	N/A	N/A	N/A	-2.3%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	37.6%-0.9pp	38.5%-1.4pp	39.8%-1.2pp	41.0%+4.6pp	36.4%-1.3pp	37.7%+0.4pp	37.3%-1.0pp	38.3%
Operating Margin	-1.9%-0.8pp	-1.1%+1.0pp	-2.1%+0.6pp	-2.7%-1.4pp	-1.3%-0.8pp	-0.5%+3.0pp	-3.5%+2.6pp	-6.1%
Net Margin	-1.4%-0.8pp	-0.7%+2.1pp	-2.7%-0.6pp	-2.1%-1.3pp	-0.8%-1.0pp	0.2%-2.1pp	2.3%+7.7pp	-5.4%
Return on Equity	-0.8%-0.4pp	-0.3%+1.0pp	-1.3%-0.2pp	-1.1%-0.5pp	-0.6%-0.7pp	0.1%-1.2pp	1.3%+4.4pp	-3.1%
Return on Assets	-0.3%-0.2pp	-0.1%+0.4pp	-0.5%-0.1pp	-0.4%-0.2pp	-0.2%-0.2pp	0.0%-0.4pp	0.4%+1.3pp	-0.9%
Current Ratio	1.42+0.0	1.39+0.1	1.310.0	1.31-0.0	1.34+0.0	1.29+0.1	1.16-1.2	2.36
Debt-to-Equity	0.62-0.0	0.63-0.0	0.64-0.1	0.71-0.2	0.90+0.1	0.83-0.1	0.91-0.5	1.41
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Bandwidth Inc's annual revenue?

Bandwidth Inc (BAND) reported $753.8M in total revenue for fiscal year 2025. This represents a 0.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Bandwidth Inc's revenue growing?

Bandwidth Inc (BAND) revenue grew by 0.7% year-over-year, from $748.5M to $753.8M in fiscal year 2025.

Is Bandwidth Inc profitable?

No, Bandwidth Inc (BAND) reported a net income of -$12.9M in fiscal year 2025, with a net profit margin of -1.7%.

What is Bandwidth Inc's EBITDA?

Bandwidth Inc (BAND) had EBITDA of $39.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Bandwidth Inc have?

As of fiscal year 2025, Bandwidth Inc (BAND) had $102.8M in cash and equivalents against $247.6M in long-term debt.

What is Bandwidth Inc's gross margin?

Bandwidth Inc (BAND) had a gross margin of 39.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Bandwidth Inc's operating margin?

Bandwidth Inc (BAND) had an operating margin of -1.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Bandwidth Inc's net profit margin?

Bandwidth Inc (BAND) had a net profit margin of -1.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Bandwidth Inc's return on equity (ROE)?

Bandwidth Inc (BAND) has a return on equity of -3.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Bandwidth Inc's operating cash flow?

Bandwidth Inc (BAND) generated $89.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Bandwidth Inc's total assets?

Bandwidth Inc (BAND) had $1.1B in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Bandwidth Inc spend on research and development?

Bandwidth Inc (BAND) invested $132.5M in research and development during fiscal year 2025.

What is Bandwidth Inc's current ratio?

Bandwidth Inc (BAND) had a current ratio of 1.42 as of fiscal year 2025, which is considered adequate.

What is Bandwidth Inc's debt-to-equity ratio?

Bandwidth Inc (BAND) had a debt-to-equity ratio of 0.62 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Bandwidth Inc's return on assets (ROA)?

Bandwidth Inc (BAND) had a return on assets of -1.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Bandwidth Inc's Piotroski F-Score?

Bandwidth Inc (BAND) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Bandwidth Inc's earnings high quality?

Bandwidth Inc (BAND) has an earnings quality ratio of -6.93x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Bandwidth Inc cover its interest payments?

Bandwidth Inc (BAND) has an interest coverage ratio of -5.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Bandwidth Inc?

Bandwidth Inc (BAND) scores 34 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.