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) 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.
Bandwidth (NASDAQ: BAND) and K4Connect have teamed up to enhance communication for senior living communities via the K4Community Hotline, a tool designed to keep residents and families updated during COVID-19. Launched in March, the hotline has been activated by 20 communities, managing over 280 calls daily. This collaboration aims to provide essential information such as safety protocols and community updates, relieving caregiver stress. Bandwidth's API supports this scalable solution, which is crucial as communities prepare for further COVID-19 impacts.