Bandwidth Inc Stock Price, News & Analysis

Bandwidth reported its Q2 2021 results, achieving a 57% year-over-year growth in total revenue, reaching $120.7 million. CPaaS revenue also increased by 57% to $105.0 million, driven by robust demand and the acquisition of Voxbone. Non-GAAP net income rose to $8.6 million or $0.32 per share, compared to $3.1 million the previous year. Despite a net loss of $(6.9) million, the company reported a 114% dollar-based net retention rate and forecasted Q3 total revenue between $123.6 million and $124.6 million.

Bandwidth (NASDAQ: BAND) announced a new "Bring Your Own Carrier" (BYOC) solution for RingCentral (NYSE: RNG) that enhances its Duet platform. This solution helps large enterprises transition their legacy communications to the cloud, enabling greater flexibility and control. With nearly 40% of companies on-premises planning a cloud migration by 2021, Bandwidth's offering aims to address migration challenges. The BYOC solution integrates Bandwidth's services with RingCentral's capabilities, supporting global communications and operational efficiencies.

Bandwidth Inc. (NASDAQ: BAND) announced it will release its second-quarter financial results on August 5, 2021, after market close. A conference call for investors and analysts will follow at 5:00 p.m. ET the same day. To join, U.S. callers can dial (877) 224-6304, and international callers can reach (212) 231-2908. An audio replay will be available after the call until August 12, 2021. Bandwidth is recognized for its cloud communications services, partnering with major companies like Cisco and Google.

Bandwidth Inc. (NASDAQ: BAND) announced Daryl Raiford as its new Chief Financial Officer, effective August 2021. Raiford, previously CFO at Ribbon Communications, has extensive experience in public company financial management and strategic growth. He will succeed Jeff Hoffman, who is stepping down after 10 years. Hoffman's tenure included guiding the company's IPO in 2017 and the acquisition of Voxbone in 2020. Raiford's appointment aims to enhance Bandwidth's growth trajectory and service capabilities in cloud communications.

Bandwidth (NASDAQ: BAND) announced its participation in three upcoming virtual investor conferences. CEO David Morken will host a fireside chat at the JP Morgan Global Technology, Media and Communications Conference on May 24, 2021, at 11:00 AM ET, and at the William Blair Growth Stock Conference on June 2, 2021, at 9:00 AM ET. Additionally, President Marina Carreker and CFO Jeff Hoffman will hold investor meetings at the Baird Global Consumer, Technology & Services Conference on June 10, 2021. Live webcasts will be available on Bandwidth's Investor Relations website.

Bandwidth Inc. (NASDAQ: BAND) reported strong Q1 2021 results, with total revenue reaching $113.5 million, a 66% increase year-over-year. CPaaS revenue grew 69% to $100.1 million. The company achieved a dollar-based net retention rate of 125% and an adjusted EBITDA of $13.4 million. Despite recording a net loss of $(5.3) million, non-GAAP net income improved significantly to $8.3 million. Looking ahead, Bandwidth expects Q2 total revenue between $116.0 million and $117.0 million, and full-year revenue between $473.1 million and $476.1 million.

Bandwidth Inc. (NASDAQ: BAND) has been recognized as a Leader in the IDC MarketScape: Worldwide Cloud Communications Platform (CPaaS) 2021 Vendor Assessment for the second consecutive year. This recognition highlights Bandwidth's strong reputation as a scalable platform in the rapidly expanding CPaaS sector, especially after its acquisition of Voxbone, enhancing its global reach. The report emphasizes Bandwidth's unique global IP backbone and tier 1 provider status, enabling flexible, high-quality communication solutions. The company offers a broad API portfolio and integrations with popular platforms like Microsoft Teams.

Bandwidth Inc. (NASDAQ: BAND) will release its first-quarter financial results after market close on May 5, 2021. A conference call for investors and analysts is scheduled for 5:00 p.m. ET on the same day, which will also be available via live webcast. An audio replay will be accessible from 8:00 p.m. ET on May 5 until 11:59 p.m. ET on May 12. Bandwidth is recognized as a leader in enterprise cloud communications, providing APIs for companies like Google and Microsoft to integrate voice and messaging services.