Bandwidth Inc - BAND STOCK NEWS

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.

Bandwidth (NASDAQ: BAND) announced its acquisition of Voxbone for €446 million (approximately $400 million USD), enhancing its position in the enterprise cloud communications market. This strategic move accelerates Bandwidth's international strategy, combining its U.S. presence with Voxbone’s operations across 60+ countries, serving 93% of global GDP. The acquisition is expected to close on October 31, 2020, and will integrate Voxbone under Bandwidth’s brand. Bandwidth anticipates Q3 2020 revenue and non-GAAP EPS to exceed previous guidance, with financial results scheduled for October 29, 2020.

Bandwidth Inc. (NASDAQ: BAND) has successfully completed testing and launched STIR/SHAKEN interoperability with T-Mobile for legacy Sprint customers, enhancing consumer protection against robocalling. Bandwidth, a pioneer in implementing STIR/SHAKEN protocols, now authenticates over 4 billion calls monthly. The company continues to improve its network features to combat illegal robocalls while ensuring legitimate calls are not blocked. The initiative aligns with Bandwidth's strategy to build consumer trust in communications.

Trovata and ICD have launched an integrated workflow for corporate cash forecasting and investing, with Bandwidth Inc. (NASDAQ: BAND) as the first user. This collaboration automates cash reporting, providing real-time data aggregation and analysis, significantly enhancing cash management efficiency for enterprises. Trovata's API platform streamlines data flow, allowing treasurers to invest excess cash confidently through ICD Portal. As businesses adapt to rapidly changing environments, this digital transformation is vital for effective liquidity management.