Bandwidth Inc. BAND
A global communications transformation is underway, and we believe Bandwidth is at the center. Our mission is to develop and deliver the power to communicate. We enable innovative organizations—from startup app developers to the world's largest enterprises—to engage their end-users and deliver exceptional experiences everywhere people live, learn, work, and play. Backed by the Bandwidth Communications Cloud, our global owned-and-operated network spanning more than 65 countries reaching over 90 percent of global gross domestic product ("GDP"), innovative enterprises use Bandwidth's Application Programming Interfaces ("APIs") to easily embed voice, messaging, emergency services, and artificial intelligence ("AI") capabilities into software and applications. Bandwidth was the first cloud communications provider to offer a robust selection of APIs built on our own cloud platform. Our award-winning support teams help businesses around the world transform their communications every day.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $753.8M | $748.5M | $601.1M | $573.2M | $490.9M | $343.1M | $232.6M | $204.1M | $163.0M | $152.1M |
| Cost of revenue | $458.8M | $468.5M | $365.0M | $334.8M | $277.1M | $189.2M | $125.0M | $108.1M | $89.3M | $85.2M |
| Gross profit | $295.1M | $280.0M | $236.2M | $238.4M | $213.8M | $153.9M | $107.6M | $96.0M | $73.7M | $66.9M |
| R&D | $132.5M | $118.6M | $104.2M | $98.0M | $69.5M | $54.6M | $31.5M | $20.9M | $10.8M | $8.5M |
| SG&A | $75.2M | $71.7M | $65.4M | $68.0M | $64.2M | $51.6M | $58.8M | $47.6M | $37.1M | $33.9M |
| Total operating expenses | $309.4M | $300.0M | $271.6M | $262.7M | $216.1M | $167.4M | $125.3M | $89.2M | $59.1M | $51.7M |
| Operating income | -$14.4M | -$20.1M | -$35.5M | -$24.3M | -$2.2M | -$13.5M | -$17.7M | $6.8M | $14.6M | $15.2M |
| Interest expense | — | — | — | — | — | — | — | — | $1.7M | $908.0K |
| Pre-tax income | -$9.2M | -$4.1M | -$13.4M | $21.8M | -$23.5M | -$29.0M | -$15.2M | $7.1M | $12.9M | $14.3M |
| Income tax | $3.7M | $2.4M | $3.0M | $2.3M | $3.8M | $15.0M | $17.7M | $10.9M | $6.9M | $11.1M |
| Net income | -$12.9M | -$6.5M | -$16.3M | $19.6M | -$27.4M | -$44.0M | $2.5M | $17.9M | $6.0M | $22.4M |
| EPS, basic | -0.43 | -0.24 | -0.64 | 0.77 | -1.09 | -1.83 | 0.11 | 0.96 | 0.42 | 1.66 |
| EPS, diluted | -0.43 | -0.24 | -0.64 | -0.48 | -1.09 | -1.83 | 0.10 | 0.85 | 0.37 | 1.51 |
| Shares, diluted (wtd. avg.) | $30.0M | $27.2M | $25.6M | $30.9M | $25.1M | $24.1M | $23.9M | $21.1M | $14.5M | $12.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $102.8M | $81.8M | $132.0M | $114.6M | $332.3M | $81.4M | $185.0M | $41.5M | $37.9M | $7.0M |
| Short-term investments | $8.5M | $2.0M | $21.5M | $71.2M | $0 | — | $0 | $17.4M | $0 | — |
| Receivables | $91.4M | $86.5M | $78.2M | $74.5M | $61.6M | $55.2M | $30.2M | $24.0M | $21.2M | $16.8M |
| Total current assets | $219.1M | $187.8M | $252.8M | $279.6M | $412.9M | $193.6M | $226.9M | $91.7M | $65.3M | $28.0M |
| Property, plant and equipment | — | — | — | — | — | — | $41.7M | $25.1M | $14.9M | $11.2M |
| Goodwill | $356.8M | $317.2M | $335.9M | $326.4M | $344.4M | $372.2M | $6.9M | $6.9M | $6.9M | $6.9M |
| Other intangibles | $138.7M | $145.4M | $166.9M | $177.4M | $211.2M | $248.1M | $6.6M | $7.1M | $7.6M | $8.5M |
| Total assets | $1.05B | $989.2M | $1.10B | $929.3M | $1.07B | $890.6M | $341.4M | $150.4M | $104.5M | $70.0M |
| Accounts payable | $42.6M | $28.4M | $34.2M | $26.8M | $9.1M | $11.7M | $4.2M | $3.4M | $3.0M | $4.7M |
| Total current liabilities | $154.1M | $140.3M | $122.8M | $114.0M | $93.5M | $92.2M | $45.7M | $32.7M | $24.5M | $30.5M |
| Long-term debt | $247.6M | $281.3M | $418.5M | $480.5M | $486.4M | $282.2M | $0 | — | — | — |
| Total liabilities | $652.7M | $676.6M | $803.7M | $657.1M | $652.9M | $460.7M | $71.3M | $41.6M | $27.8M | $70.5M |
| Retained earnings | -$84.3M | -$71.4M | -$64.9M | -$48.5M | -$76.9M | -$49.5M | -$5.5M | -$7.8M | -$25.8M | -$31.7M |
| Total equity | $400.0M | $312.5M | $297.4M | $272.2M | $412.6M | $429.9M | $270.1M | $108.8M | $76.7M | -$22.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $89.5M | $83.9M | $39.0M | $34.9M | $40.8M | $4.5M | -$1.3M | $24.6M | $14.6M | $5.2M |
| Depreciation and amortisation | $35.7M | $31.7M | $24.4M | $18.4M | $17.5M | $13.1M | $9.0M | $5.3M | $4.9M | $5.3M |
| Stock-based compensation | $52.3M | $48.4M | $37.0M | $20.7M | $14.5M | $9.9M | $6.6M | $3.3M | $1.8M | $1.4M |
| Capital expenditure | — | — | — | — | — | $12.3M | $22.2M | $12.4M | $5.0M | $3.8M |
| Investing cash flow | -$39.1M | -$1.4M | $30.8M | -$133.4M | $2.8M | -$455.1M | -$7.7M | -$31.7M | -$8.0M | -$7.4M |
| Financing cash flow | -$29.1M | -$131.3M | -$52.8M | -$120.0M | $207.0M | $346.9M | $152.4M | $10.7M | $24.2M | -$1.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001514416-26-000027.
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