Bandwidth Inc Stock Price, News & Analysis

Bandwidth Inc. (BAND) announced the launch of Duet for Genesys, a Bring Your Own Carrier (BYOC) solution designed to streamline enterprise contact centers' migration to the cloud. This collaboration with Genesys aims to simplify the complexities of managing on-premises equipment across multiple locations. Bandwidth's solution allows companies to retain essential call data while enhancing flexibility and scalability. Notably, it serves significant clients, including a Fortune 200 managed care provider and a global leader in electronic agreements, emphasizing the growing demand for cloud-based customer experience solutions.

Bandwidth (NASDAQ: BAND) has appointed Rebecca Bottorff, the Chief People Officer, to its board of directors, expanding the board to six members. Bottorff, with nearly 30 years of experience, has been pivotal in developing Bandwidth's unique culture and has played key roles during significant company milestones, including its IPO. She expresses excitement for this new chapter, emphasizing the importance of talent and culture in global competitiveness. This strategic move is expected to provide valuable insights as Bandwidth continues its growth trajectory.

Bandwidth Inc. (NASDAQ: BAND) announced three new partnerships enhancing its 911 emergency services capabilities ahead of the January 6, 2022 compliance deadline for the RAY BAUM'S Act. Collaborating with 911 Secure, 911inform, and 9Line Software, Bandwidth will offer a comprehensive emergency services solution tailored for large enterprises. These integrations will support popular IP-based communication systems. Bandwidth's services aim to ensure regulatory compliance while improving operational efficiency and safety for remote and on-site workers.

Bandwidth Inc. (NASDAQ: BAND) announced significant growth in healthcare digital communications post-pandemic, emphasizing its unified software platform for patient engagement. The company aids healthcare providers in transitioning legacy telephony to cloud solutions, enhancing accessibility and efficiency. Bandwidth recently secured a deal with a $16 billion Fortune 200 managed care provider to modernize its communications. The firm continues to serve leading patient engagement app developers, demonstrating its pivotal role in the telehealth transformation.

Bandwidth (NASDAQ: BAND) reported strong third quarter results for 2021, with CPaaS revenue increasing from $73.8 million to $107.4 million year-over-year. Total revenue rose to $130.6 million, up from $84.8 million. Despite a net loss widening from $2.4 million to $6.9 million and an adjusted EBITDA of $14.2 million, the company achieved a record non-GAAP CPaaS gross margin of 54%. The outlook for Q4 estimates CPaaS revenue between $94.5 million and $99.5 million. Key customer wins included a Fortune 200 managed care provider, enhancing business prospects.

Bandwidth (NASDAQ: BAND) reported preliminary Q3 2021 revenue of approximately $131 million, up 54% year-over-year, exceeding guidance of $123.6-$124.6 million. CPaaS revenue reached $107.4 million, a 46% increase from the prior year, despite a $0.7 million decline due to a DDoS attack. For 2021, the DDoS attack may decrease CPaaS revenue by $9-$12 million. The final results will be released on November 8, 2021.

Bandwidth Inc. (NASDAQ: BAND) issued a statement addressing a recent DDoS attack affecting its services and the VoIP industry. Following mitigation efforts, the network has stabilized, with normal service levels restored by Sept. 29. CEO David Morken acknowledged customer support during this challenging time and emphasized ongoing collaboration to enhance the industry's defenses against such attacks. The company is committed to transparency and integrity while working with clients to maintain robust communication services. Bandwidth aims to share insights gained from this incident to improve overall ecosystem security.

Bandwidth Inc. (NASDAQ: BAND) has announced its participation as a charter member of Zoom's Phone Provider Exchange, enhancing its role as a cloud peering collaborator. This program allows Zoom's enterprise customers to 'Bring Your Own Carrier' (BYOC), enabling them to work directly with Bandwidth for SIP trunking and emergency services. Bandwidth aims to provide scalable and flexible telecommunications solutions across multiple platforms, including Zoom, Microsoft Teams, and RingCentral, while maintaining compliance with crucial regulations.

Bandwidth Inc. (NASDAQ: BAND) announced its role in enhancing digital communication for property technology (PropTech) firms in the booming U.S. housing market. As buyers and sellers transition to digital tools, Bandwidth provides essential voice and messaging services to improve real estate transactions. Innovations include Clever Real Estate's agent selection platform, Rently's self-touring technology, and ShowingTime's online scheduling tool, enabling smoother processes and improved customer experiences.