Welcome to our dedicated page for Bandwidth news (Ticker: BAND), a resource for investors and traders seeking the latest updates and insights on Bandwidth stock.
Bandwidth Inc. reports recurring developments for a global cloud communications and CPaaS business that provides voice calling, text messaging and emergency services through composable APIs, AI capabilities, an owner-operated network and its Communications Cloud.
Company news commonly covers operating and financial results, usage trends in voice and messaging, enterprise adoption of AI-enabled communications, software-services contribution, share repurchases and debt reduction, customer and platform partnerships, and communications compliance, security and reliability themes across regulated markets.
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.
Bandwidth (NASDAQ: BAND) announced a partnership with North Carolina State University for a research study on robocalling campaigns. The study ran from February 2019 to January 2020 and revealed that fraudulent robocalling did not increase during this period, contradicting previous beliefs. Bandwidth provided support by authorizing the use of 66,606 phone numbers previously disconnected due to policy violations. The findings aim to improve methods for tracing and blocking illegitimate calls, enhancing trust in telecommunications.
Bandwidth Inc. (NASDAQ: BAND) announced a partnership with Comcast on August 4, 2020, to implement STIR/SHAKEN protocols for authenticated calls. This collaboration aims to combat robocalling and phone number spoofing, enhancing consumer protection. Bandwidth's CTO, Scott Mullen, emphasized the commitment to improving communication standards, while Comcast's Chris Wendt highlighted the importance of such partnerships to benefit telephone users. This initiative signifies a step forward in establishing a secure and trustworthy communications environment.
Bandwidth Inc. (NASDAQ: BAND) will participate in two upcoming virtual investor conferences. CFO Jeff Hoffman will speak at the Canaccord Genuity 40th Annual Growth Conference on August 12, 2020, at 3:30 p.m. ET. CEO David Morken will present at the KeyBanc Capital Markets Future of Technology Series on August 19, 2020, at 1:20 p.m. ET. Audiences can access the live webcast and its replay via the Bandwidth investor website.
Bandwidth reported a remarkable 35% revenue growth for Q2 2020, totaling $76.8 million, up from $56.8 million in Q2 2019. Key contributors included CPaaS revenue of $67.1 million, a 40% increase compared to the prior year. Despite a net loss of $(20.6) million, the company raised its full-year guidance, reflecting strong performance and an increase in active CPaaS customers to 1,900, a 30% rise year-over-year. Adjusted EBITDA rose to $5.5 million, significantly improving from $0.02 million in Q2 2019. Bandwidth’s non-GAAP net income was $3.1 million, or $0.13 per share.