Bandwidth Inc. (BAND) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q1 FY2026, filed Apr 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BAND SEC filings page.
Bandwidth Inc. (BAND) reported $788.4M in revenue over the twelve months to Mar 31, 2026, up 4.9% from the prior twelve months. This page shows its 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).
Bandwidth’s revenue has stabilized while operating losses narrow, cash generation strengthens, and leverage falls despite heavier R&D investment.
The unusual split is between earnings and cash: FY2025 produced operating cash flow of$89.5M despite a net loss of$12.9M . That gap suggests reported cash generation is being supported by noncash charges and/or working-capital movements rather than bottom-line profitability, so cash flow and earnings are not yet telling the same story.
Operating margin improved from
The financing structure became less debt-dependent: debt-to-equity fell from 1.4x in FY2023 to 0.6x in FY2025. At the same time, current ratio fell from 2.1x to 1.4x, leaving a thinner short-term cushion even as leverage improved.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Bandwidth Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Bandwidth Inc. has an operating margin of -1.9%, meaning the company loses $2 on every $100 of revenue. This results in a profitability score of 33/100. This is up from -2.7% the prior year.
Bandwidth Inc.'s revenue grew a modest 0.7% year-over-year to $753.8M. This slow but positive growth earns a score of 70/100.
Bandwidth Inc. has elevated debt relative to equity (D/E of 0.62), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 17/100, reflecting increased financial risk.
Bandwidth Inc.'s current ratio of 1.42 indicates adequate short-term liquidity, earning a score of 38/100. The company can meet its near-term obligations, though with limited headroom.
Not available for Bandwidth Inc., and counted as zero in the overall score.
Bandwidth Inc. posts a -3.2% return on equity (ROE), meaning it loses $3 for every $100 of shareholders' equity. This results in a returns score of 35/100. This is down from -2.1% the prior year.
Bandwidth Inc. scores 2.21, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($1.7B) relative to total liabilities ($652.7M). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Bandwidth Inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Bandwidth Inc. reported a net loss of $12.9M while generating $89.5M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Bandwidth Inc. reported an operating loss of $14.4M against $2.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Bandwidth Inc. generated $208.8M in revenue in Q1 2026. This represents an increase of 19.8% from the same quarter a year earlier. Against the prior quarter it is up 0.5%.
Bandwidth Inc.'s EBITDA was $12.8M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 63.3% from the same quarter a year earlier. Against the prior quarter it is up 25.4%.
Bandwidth Inc. reported $4.1M in net income in Q1 2026. This represents an increase of 210.1% from the same quarter a year earlier. Against the prior quarter it is up 237.3%.
Bandwidth Inc. earned -$0.08 per diluted share (EPS) in Q1 2026. This represents an increase of 38.5% from the same quarter a year earlier. Against the prior quarter it is up 20.0%.
Cash & Balance Sheet
Bandwidth Inc. held $47.3M in cash against $148.7M in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Bandwidth Inc.'s gross margin was 37.3% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 3.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.3 percentage points.
Bandwidth Inc.'s operating margin was -2.2% in Q1 2026, reflecting core business profitability. This is up 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.3 percentage points.
Bandwidth Inc.'s net profit margin was 2.0% in Q1 2026, showing the share of revenue converted to profit. This is up 4.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.4 percentage points.
Bandwidth Inc.'s ROE was 1.0% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.8 percentage points.
Capital Allocation
Bandwidth Inc. invested $38.5M in research and development in Q1 2026. This represents an increase of 25.6% from the same quarter a year earlier. Against the prior quarter it is up 3.6%.
Bandwidth Inc. spent $5.0M on share buybacks in Q1 2026, returning capital to shareholders by reducing shares outstanding.
Not reported for Q1 2026.
BAND Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $208.8M+19.8% | $207.7M-1.1% | $191.9M-1.0% | $180.0M+3.7% | $174.2M+1.9% | $210.0M+27.0% | $193.9M+27.5% | $173.6M+19.0% |
| Cost of Revenue | $130.9M+27.4% | $129.6M-2.9% | $118.1M-2.2% | $108.3M-0.4% | $102.7M-2.7% | $133.5M+29.1% | $120.7M+30.5% | $108.8M+25.1% |
| Gross Profit | $77.9M+9.0% | $78.1M+2.0% | $73.8M+0.9% | $71.7M+10.5% | $71.5M+9.2% | $76.5M+23.3% | $73.1M+22.9% | $64.8M+10.0% |
| R&D Expenses | $38.5M+25.6% | $37.1M+18.2% | $33.0M+9.4% | $31.7M+12.9% | $30.6M+5.9% | $31.4M+8.8% | $30.2M+21.7% | $28.1M+13.2% |
| SG&A Expenses | $19.4M+1.7% | $19.2M-2.0% | $18.1M+3.0% | $18.8M+12.8% | $19.1M+7.1% | $19.6M+15.5% | $17.6M+10.9% | $16.7M+5.3% |
| Operating Income | -$4.6M+1.4% | -$3.9M-47.0% | -$2.0M-123.6% | -$3.7M+38.3% | -$4.7M+55.0% | -$2.7M+73.4% | -$898K+85.4% | -$6.1M+19.2% |
| EBITDA | $12.8M+63.3% | $10.2M+7.9% | $11.8M+2.7% | $9.6M+53.7% | $7.8M+291.2% | $9.4M+382.7% | $11.5M+137.8% | $6.2M+173.2% |
| Interest Expense | $673K+6.5% | $597K-7.4% | $596K-7.7% | $596K-24.1% | $632K-30.3% | $645K-28.7% | $646K-28.7% | $785K-12.4% |
| Income Tax | -$1.5M-2080.0% | -$1.5M-25.8% | -$2.3M-210.8% | $136K+141.1% | -$70K+65.0% | -$1.2M-597.4% | -$734K-235.2% | -$331K-316.3% |
| Net Income | $4.1M+210.1% | -$3.0M-70.6% | -$1.2M-400.5% | -$4.9M-221.6% | -$3.7M+59.5% | -$1.8M+83.9% | $413K+108.1% | $4.1M+204.2% |
| EPS (Basic) | $0.13+200.0% | -$0.10-66.7% | -$0.04-300.0% | -$0.16-206.7% | -$0.13+62.9% | -$0.06+86.0% | $0.02+110.0% | $0.15+200.0% |
| EPS (Diluted) | -$0.08+38.5% | -$0.10-66.7% | -$0.04-500.0% | -$0.16+5.9% | -$0.13+62.9% | -$0.06+86.0% | $0.01 | -$0.17-13.3% |
| Diluted Shares (Avg) | 33M+13.7% | N/A | 30M+5.8% | 30M+1.3% | 29M+9.4% | N/A | 29M | 30M+15.4% |
BAND Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $984.2M+2.1% | $1.1B+6.4% | $1.0B+0.3% | $1.0B+2.0% | $964.4M-11.2% | $989.2M-10.2% | $1.0B-3.8% | $1.0B+9.2% |
| Current Assets | $171.9M+13.5% | $219.1M+16.6% | $193.0M-2.8% | $176.4M-2.7% | $151.4M-41.1% | $187.8M-25.7% | $198.7M-15.2% | $181.4M-17.7% |
| Cash & Equivalents | $47.3M+31.6% | $102.8M+25.6% | $73.4M-2.1% | $60.1M-3.1% | $35.9M-65.9% | $81.8M-38.0% | $74.9M-30.2% | $62.0M-32.4% |
| Short-Term Investments | $3.0M-48.1% | $8.5M+329.2% | $7.0M+40.9% | $8.0M-44.4% | $5.8M-86.2% | $2.0M-90.8% | $5.0M-84.4% | $14.4M-53.2% |
| Accounts Receivable | $101.2M+16.3% | $91.4M+5.7% | $93.4M-6.3% | $89.2M+4.2% | $87.0M-2.8% | $86.5M+10.6% | $99.6M+32.7% | $85.6M+14.3% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $348.7M+5.9% | $356.8M+12.5% | $357.0M+4.9% | $356.2M+9.2% | $329.3M+0.2% | $317.2M-5.5% | $340.4M+5.7% | $326.2M-1.2% |
| Total Liabilities | $578.5M-6.5% | $652.7M-3.5% | $640.6M-7.6% | $637.9M-8.2% | $619.0M-21.4% | $676.6M-15.8% | $693.2M-12.3% | $694.7M+11.1% |
| Current Liabilities | $182.5M+57.7% | $154.1M+9.8% | $139.3M-9.4% | $134.9M-13.8% | $115.7M+6.5% | $140.3M+14.3% | $153.7M+41.5% | $156.5M+59.9% |
| Non-Current Liabilities | $396.0M-21.3% | $498.6M-7.0% | $501.3M-7.1% | $503.1M-6.5% | $503.2M-25.8% | $536.3M-21.2% | $539.5M-20.8% | $538.2M+2.0% |
| Long-Term Debt | $148.7M-39.7% | $247.6M-12.0% | $247.3M-12.0% | $247.0M-12.0% | $246.8M-41.1% | $281.3M-32.8% | $281.0M-32.8% | $280.7M-32.8% |
| Total Equity | $405.7M+17.4% | $400.0M+28.0% | $392.7M+16.7% | $384.5M+25.1% | $345.4M+15.8% | $312.5M+5.1% | $336.6M+20.2% | $307.4M+5.3% |
| Retained Earnings | -$80.2M-6.7% | -$84.3M-18.1% | -$81.3M-16.8% | -$80.1M-14.3% | -$75.2M-1.4% | -$71.4M-10.1% | -$69.7M-29.1% | -$70.1M-43.5% |
Not reported in any period shown, so not listed: Inventory.
BAND Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.8M+384.4% | $38.6M+5.7% | $22.2M+8.7% | $31.7M+29.8% | -$3.1M-225.1% | $36.5M+89.5% | $20.5M-11.0% | $24.4M+691.8% |
| Depreciation & Amortization | $17.4M+39.1% | $14.1M+16.5% | $13.8M+11.4% | $13.3M+8.3% | $12.5M+0.7% | $12.1M+0.6% | $12.4M+13.0% | $12.3M+25.5% |
| Stock-Based Compensation | $13.0M-4.3% | N/A | $12.3M+7.7% | $12.5M+10.4% | $13.6M+10.0% | N/A | $11.4M+64.9% | $11.4M+41.9% |
| Investing Cash Flow | -$3.9M+72.1% | -$9.0M-187.3% | -$8.0M-214.2% | -$8.2M-137.9% | -$13.8M+48.8% | -$3.1M-179.0% | $7.0M+222.7% | $21.7M+499.2% |
| Financing Cash Flow | -$59.8M-105.8% | $8K+100.0% | -$9K+99.9% | -$34K+100.0% | -$29.0M-1506.7% | -$25.1M-47313.2% | -$15.1M-1824.2% | -$89.2M-70904.0% |
| Share Buybacks | $5.0M | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.
BAND Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.3%-3.7pp | 37.6%+1.2pp | 38.5%+0.7pp | 39.8%+2.5pp | 41.0%+2.7pp | 36.4%-1.1pp | 37.7%-1.4pp | 37.3%-3.1pp |
| Operating Margin | -2.2%+0.5pp | -1.9%-0.6pp | -1.1%-0.6pp | -2.1%+1.4pp | -2.7%+3.4pp | -1.3%+4.8pp | -0.5%+3.6pp | -3.5%+1.6pp |
| Net Margin | 2.0%+4.1pp | -1.4%-0.6pp | -0.7%-0.9pp | -2.7%-5.1pp | -2.1%+3.3pp | -0.8%+5.8pp | 0.2%+3.6pp | 2.3%+5.0pp |
| Return on Equity | 1.0%+2.1pp | -0.8%-0.2pp | -0.3%-0.4pp | -1.3%-2.6pp | -1.1%+2.0pp | -0.6%+3.1pp | 0.1%+1.9pp | 1.3%+2.6pp |
| Return on Assets | 0.4%+0.8pp | -0.3%-0.1pp | -0.1%-0.2pp | -0.5%-0.9pp | -0.4%+0.5pp | -0.2%+0.8pp | 0.0%+0.5pp | 0.4%+0.8pp |
| Current Ratio | 0.94-0.4x | 1.42+0.1x | 1.39+0.1x | 1.31+0.1x | 1.31-1.1x | 1.34-0.7x | 1.29-0.9x | 1.16-1.1x |
| Debt-to-Equity | 0.37-0.3x | 0.62-0.3x | 0.63-0.2x | 0.64-0.3x | 0.71-0.7x | 0.90-0.5x | 0.83-0.7x | 0.91-0.5x |
| Asset Turnover | 0.210.0x | 0.200.0x | 0.190.0x | 0.180.0x | 0.180.0x | 0.21+0.1x | 0.190.0x | 0.170.0x |
Not reported in any period shown, so not listed: FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Bandwidth Inc. BAND | FY2025 | $753.8M | -$12.9M | -1.7% | $1.7B | 32/100 |
| Consensus Cloud Solutions, Inc. CCSI | FY2025 | $349.7M | $84.5M | 24.2% | $672.7M | 64/100 |
| Xunlei Limited XNET | FY2025 | $460.4M | $1.0B | N/A | $319.3M | 55/100 |
| Allot Ltd. ALLT | FY2025 | $102.0M | $3.7M | 3.6% | $413.7M | 65/100 |
| Backblaze, Inc. BLZE | FY2025 | $145.8M | -$25.6M | -17.6% | $785.5M | 65/100 |
Where Bandwidth Inc. Ranks
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 P/E ratio?
Bandwidth Inc. (BAND) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to March 31, 2026). The market capitalization is $1.7B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Bandwidth Inc.'s price-to-sales ratio?
Bandwidth Inc. (BAND) trades at 2.2x sales, its market capitalization divided by revenue of $788.4M revenue, trailing 12 months to March 31, 2026. The market capitalization is $1.7B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Bandwidth Inc.'s Altman Z-Score?
Bandwidth Inc. (BAND) has an Altman Z-Score of 2.21, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Bandwidth Inc.'s Piotroski F-Score?
Bandwidth Inc. (BAND) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $12.9M while generating $89.5M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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) reported an operating loss of $14.4M against $2.4M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 32 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.