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Bandwidth Inc. - BAND STOCK NEWS

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. (NASDAQ: BAND) is a leading global communications software company focused on transforming the way people communicate. Unlike traditional telecom providers, Bandwidth leverages its cloud-based Communications Platform-as-a-Service (CPaaS) to enable enterprises to create, scale, and operate voice and messaging services across any application or device. The company is well-known for powering communications technologies used by giants like Google, Skype, and RingCentral.

Bandwidth's core business revolves around offering robust API solutions that facilitate a variety of communication services including voice calls, text messaging, and emergency services. Their revolutionary platform, Bandwidth Maestro™, provides a next-generation enterprise cloud communications environment designed to integrate real-time voice apps across unified communications, cloud contact centers, and AI platforms. This is achieved through their composable APIs, owner-operated network, and extensive regulatory experience

In recent news, Bandwidth announced financial results for Q3 2023, exceeding both revenue and profitability guidance. The company posted a revenue of $146 million and Adjusted EBITDA of $11 million for Q2 2023, followed by strong performance in Q3. Bandwidth also launched AIBridge, a solution developed in partnership with Google and Cognigy, which allows enterprises to deploy voice-based AI tools to enhance contact center operations.

Financially, Bandwidth is in a solid position. The company has shown a consistent pattern of profitable growth, with a notable increase in commercial messaging and enterprise businesses. They also managed to enhance their capital structure by upsizing their revolving credit facility to $100 million and repurchasing $140 million of their 2026 convertible notes at a discount.

Bandwidth's customer base spans over 65 countries and covers over 90% of global GDP. The company's award-winning support teams are renowned for helping businesses solve complex communication problems, ensuring that Bandwidth remains at the forefront of the cloud communications industry.

Looking forward, Bandwidth has set ambitious goals for 2024, including double-digit revenue growth and a significant increase in profitability. Their continuous focus on innovation and customer success positions them well to achieve their medium-term goals laid out at their Investor Day event.

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Bandwidth Inc. (NASDAQ: BAND) announced it will release its financial results for Q4 and the full year ended December 31, 2020, after market close on February 25, 2021. A conference call will be held at 5:00 p.m. ET on the same day to discuss these results with investors and analysts. Access details for the call and a live webcast can be found on the company’s Investor Relations page. An audio replay will be available after the call until March 4, 2021. Bandwidth is recognized for providing enterprise cloud communications services used by major companies like Google and Microsoft.

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Bandwidth (NASDAQ: BAND) announced Brandon Asbill as its new General Counsel, effective January 18, 2021. With over 20 years of legal experience, Asbill previously worked at Red Hat, where he led teams on over 20 acquisitions totaling more than $1.5 billion and played a key role in IBM's $34 billion acquisition of Red Hat. His expertise in corporate governance, compliance, and data privacy is set to support Bandwidth's growth as an international company. Asbill replaces Chris Matton, who has departed from the firm.

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Bandwidth Inc. (NASDAQ: BAND) announced the pricing of a secondary offering for 663,394 shares of its Class A common stock by VIP II Nominees Limited at $152.00 per share, set to close on November 5, 2020. This move will enable the Selling Stockholder to divest all its shares in the company. Morgan Stanley is serving as the underwriter for the offering. Investors are advised to review the prospectus filed with the SEC for more detailed information regarding the offering.

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Bandwidth, a leading enterprise cloud communications company, announced a secondary offering of 663,394 shares of its Class A common stock by the Selling Stockholder, VIP II Nominees Limited. This offering will occur under the company's existing shelf registration filed with the SEC, with the Selling Stockholder receiving all proceeds. The stock was last priced at $157.85, and the offering is expected to close on November 5, 2020. Morgan Stanley will act as the underwriter. The company emphasizes that no shares are being sold by it, and investors should review the related prospectus for further information.

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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.

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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.

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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.

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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.

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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.

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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.

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FAQ

What is the current stock price of Bandwidth (BAND)?

The current stock price of Bandwidth (BAND) is $19.98 as of December 6, 2024.

What is the market cap of Bandwidth (BAND)?

The market cap of Bandwidth (BAND) is approximately 551.6M.

What does Bandwidth Inc. do?

Bandwidth Inc. is a global cloud communications company that enables enterprises to create, scale, and operate voice and messaging services across any application or device.

What is Bandwidth Maestro™?

Bandwidth Maestro™ is a next-generation enterprise cloud communications platform that integrates real-time voice apps across unified communications, cloud contact centers, and AI platforms.

Which prominent companies use Bandwidth's services?

Google, Skype, and RingCentral are among the notable companies that leverage Bandwidth's communication solutions.

How did Bandwidth perform financially in Q3 2023?

In Q3 2023, Bandwidth exceeded both revenue and profitability guidance, posting strong financial results and demonstrating robust growth.

What is Bandwidth AIBridge?

Bandwidth AIBridge is a solution developed with Google and Cognigy that enables enterprises to deploy voice-based AI tools to improve contact center efficiency.

What is Bandwidth's geographical reach?

Bandwidth operates in over 65 countries, covering more than 90% of global GDP.

How is Bandwidth enhancing its financial structure?

Bandwidth increased its revolving credit facility to $100 million and repurchased $140 million of their 2026 convertible notes at a discount.

What are Bandwidth's plans for 2024?

Bandwidth plans for double-digit revenue growth and significant profitability increases in 2024.

How does Bandwidth support its customers?

Bandwidth offers award-winning support teams that help businesses solve complex communication challenges and ensure successful operation of their communication services.

What makes Bandwidth unique in the CPaaS space?

Bandwidth is unique for its combination of composable APIs, owner-operated network, and broad regulatory experience, which enables seamless integration and innovation in cloud communications.

Bandwidth Inc.

Nasdaq:BAND

BAND Rankings

BAND Stock Data

551.58M
24.29M
4.65%
77.55%
3.51%
Software - Infrastructure
Services-prepackaged Software
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United States of America
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