Bandwidth Inc Financials
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).
Bandwidth is showing a cash-generative turnaround beneath GAAP losses, while deleveraging suggests the business is being financially reset.
With revenue roughly flat, gross margin improved to39.1% in FY2025 from37.4% in FY2024. That combination suggests costs tied to serving revenue eased enough for more of each sales dollar to remain after direct expenses, making the improvement look like an internal efficiency recovery rather than a simple volume story.
Net income and cash generation are telling different stories: FY2025 showed a loss of
Balance-sheet risk has eased as long-term debt fell from
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 retains $-2 of operating profit per $100 of revenue. This results in a moderate score of 36/100, indicating healthy but not exceptional operating efficiency. 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 16/100, 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.
Bandwidth Inc's ROE of -3.2% shows moderate profitability relative to equity, earning a score of 38/100. This is down from -2.1% the prior year.
Bandwidth Inc scores 2.94, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($2.5B) 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.
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.
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
Earnings & Revenue
Bandwidth Inc generated $753.8M in revenue in fiscal year 2025. This represents an increase of 0.7% from the prior year.
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.
Bandwidth Inc reported -$12.9M in net income in fiscal year 2025. This represents a decrease of 97.9% from the prior year.
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
Bandwidth Inc held $102.8M in cash against $247.6M in long-term debt as of fiscal year 2025.
Bandwidth Inc paid $0.00 per share in dividends in fiscal year 2025.
Margins & Returns
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.
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.
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.
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
Bandwidth Inc invested $132.5M in research and development in fiscal year 2025. This represents an increase of 11.7% from the prior year.
BAND Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $208.8M+0.5% | $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 |
| Cost of Revenue | $130.9M+1.0% | $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 |
| Gross Profit | $77.9M-0.2% | $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 |
| R&D Expenses | $38.5M+3.6% | $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 |
| SG&A Expenses | $19.4M+1.4% | $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 |
| Operating Income | -$4.6M-17.7% | -$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 |
| Interest Expense | N/A | $597K+0.2% | $596K0.0% | $596K-5.7% | $632K-2.0% | $645K-0.2% | $646K-17.7% | $785K |
| Income Tax | -$1.5M-4.2% | -$1.5M+35.8% | -$2.3M-1777.2% | $136K+294.3% | -$70K+94.0% | -$1.2M-58.6% | -$734K-121.8% | -$331K |
| Net Income | $4.1M+237.3% | -$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 |
| EPS (Diluted) | $-0.08 | N/A | $-0.04+75.0% | $-0.16-23.1% | $-0.13 | N/A | $0.01+105.9% | $-0.17 |
BAND Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $984.2M-6.5% | $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 |
| Current Assets | $171.9M-21.5% | $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 |
| Cash & Equivalents | $47.3M-54.0% | $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 |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $101.2M+10.7% | $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 |
| Goodwill | $348.7M-2.3% | $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 |
| Total Liabilities | $578.5M-11.4% | $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 |
| Current Liabilities | $182.5M+18.5% | $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 |
| Long-Term Debt | $148.7M-39.9% | $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 |
| Total Equity | $405.7M+1.4% | $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 |
| Retained Earnings | -$80.2M+4.9% | -$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 |
BAND Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.8M-77.3% | $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 |
| 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 | -$3.9M+57.1% | -$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 |
| Financing Cash Flow | -$59.8M-747062.5% | $8K+188.9% | -$9K+73.5% | -$34K+99.9% | -$29.0M-15.5% | -$25.1M-66.2% | -$15.1M+83.0% | -$89.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $5.0M | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
BAND Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.3%-0.3pp | 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% |
| Operating Margin | -2.2%-0.3pp | -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% |
| Net Margin | 2.0%+3.4pp | -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% |
| Return on Equity | 1.0%+1.8pp | -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% |
| Return on Assets | 0.4%+0.7pp | -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% |
| Current Ratio | 0.94-0.5 | 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 |
| Debt-to-Equity | 0.37-0.3 | 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 |
| 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 Altman Z-Score?
Bandwidth Inc (BAND) has an Altman Z-Score of 2.94, 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) 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 33 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.