BAND on Nasdaq

Bandwidth.com

Logo: Bandwidth marketing, CC BY-SA 4.0, via Wikimedia Commons⁴

American communications provider

Price unavailable

Last updated Oct 16, 2026.

Overview

$753.8MRevenue, fiscal 2025⁵

-$12.9MNet income, fiscal 2025⁵

1999Founded¹

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TickerBAND on Nasdaq¹
IndustryServices-Prepackaged Software¹
HeadquartersRaleigh¹
Websitewww.bandwidth.com
Incorporated inDE⁶
Business address2230 Bandmate Way, Raleigh, Nc 27607⁶
Filer categoryAccelerated filer⁶

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Bandwidth Inc. is an American communications platform as a service (CPaas) company that provides application programming interfaces (APIs) for voice calling, text messaging, and emergency services. The company operates its own global IP voice network and provides communications infrastructure for businesses and software applications.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

39.1%Gross margin⁵

-1.9%Operating margin⁵

-1.7%Net margin⁵

0.7%Revenue growth, 2025⁵

-3.2%Return on equity⁵

0.62×Debt to equity⁵

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

CPaaS, Usage-Based Fees brought in 55% of the revenue Bandwidth.com broke down this way in fiscal 2025.

CPaaS, Usage-Based Fees$414.5M⁵55%up 3% from 2024
Messaging Surcharges$192.4M⁵26%down 8% from 2024
CPaaS, Service Fees$146.9M⁵19%up 6% from 2024

Products and services by year

Products and services	2023	2024	2025
CPaaS, Usage-Based Fees	$346.9M	$401.4M	$414.5M
Messaging Surcharges	$122.2M	$208.7M	$192.4M
CPaaS, Service Fees	$132.0M	$138.4M	$146.9M

Regions

United States brought in 87% of the revenue Bandwidth.com broke down this way in fiscal 2025.

United States$654.0M⁵87%down 1% from 2024
Outside the United States$99.8M⁵13%up 11% from 2024

Regions by year

Regions	2023	2024	2025
United States	$514.0M	$658.7M	$654.0M
Outside the United States	$87.1M	$89.8M	$99.8M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenueResearch and developmentOther costs

Cost of revenue61¢$458.8M
Research and development18¢$132.5M
Other costs21¢$158.9M
Income tax0¢$3.7M

Out of $753.8M in revenue.⁵ The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

Kept or used elsewhere

Kept or used elsewhere100¢$89.5M

Out of $89.5M of cash from operations.⁵

Financial statements

Revenue⁸⁹¹⁰¹¹¹²⁵$753.8M in 2025+269% since 2018

Gross profit⁸⁹¹⁰¹¹¹²⁵$295.1M in 2025+207% since 2018

Operating income⁸⁹¹⁰¹¹¹²⁵-$14.4M in 2025

Net income⁸⁹¹⁰¹¹¹²⁵-$12.9M in 2025

Every line of the income statement in the latest annual report, as filed.⁵

Period ending	2025-12-31	2024-12-31	2023-12-31
Revenue	$753.8M	$748.5M	$601.1M
Cost of revenue	$458.8M	$468.5M	$365.0M
Gross profit	$295.1M	$280.0M	$236.2M
Research and development	$132.5M	$118.6M	$104.2M
Sales and marketing	$101.7M	$109.7M	$102.1M
General and administrative	$75.2M	$71.7M	$65.4M
Total operating expenses	$309.4M	$300.0M	$271.6M
Operating loss	-$14.4M	-$20.1M	-$35.5M
Net gain on extinguishment of debt	$1.1M	$10.3M	$12.8M
Gain on business interruption insurance recoveries	$0	$0	$4.0M
Interest expense, net	-$2.0M	-$1.9M	-$808.0K
Other (expense) income	-$1.3M	$2.7M	$195.0K
Total other (expense) income	-$2.2M	$11.1M	$16.2M
Loss before income taxes	-$16.6M	-$9.0M	-$19.3M
Income tax benefit	$3.7M	$2.4M	$3.0M
Net loss	-$12.9M	-$6.5M	-$16.3M
Basic (in usd per share)	-$0.43	-$0.24	-$0.64
Diluted (in usd per share)	-$0.43	-$0.24	-$0.64
Basic (in shares)	30.0M shares	27.2M shares	25.6M shares
Diluted (in shares)	30.0M shares	27.2M shares	25.6M shares

Total assets¹⁶⁸⁹¹⁰¹¹¹²⁵$1.1B in 2025+600% since 2018

Total liabilities¹⁶⁸⁹¹⁰¹¹¹²⁵$652.7M in 2025+1467% since 2018

Shareholders’ equity⁹¹⁰¹¹¹²⁵$400.0M in 2025+268% since 2018

Cash¹⁶⁸⁹¹¹¹²⁵$102.8M in 2025+149% since 2018

Long-term debt⁸⁹¹⁰¹¹¹²⁵$247.6M in 2025

Every line of the balance sheet in the latest annual report, as filed.⁵

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$102.8M	$81.8M	$132.0M
Marketable securities	$8.5M	$2.0M
Accounts receivable, net of allowances	$91.4M	$86.5M
Deferred costs	$4.8M	$3.7M
Prepaid expenses and other current assets	$11.6M	$13.8M
Total current assets	$219.1M	$187.8M
Property, plant and equipment, net	$174.3M	$176.8M
Operating right-of-use asset, net	$152.9M	$153.6M
Intangible assets, net	$138.7M	$145.4M
Deferred costs, non-current	$3.1M	$4.4M
Other long-term assets	$7.8M	$4.0M
Goodwill	$356.8M	$317.2M	$335.9M
Total assets	$1.1B	$989.2M
Accounts payable	$42.6M	$28.4M
Accrued expenses and other current liabilities	$91.2M	$101.8M
Current portion of deferred revenue	$8.7M	$7.0M
Operating lease liability, current	$3.9M	$3.1M
Current portion of convertible senior notes	$7.6M	$0
Total current liabilities	$154.1M	$140.3M
Other liabilities	$555.0K	$576.0K
Operating lease liability, net of current portion	$221.0M	$219.2M
Deferred revenue, net of current portion	$5.0M	$8.0M
Deferred tax liability	$24.5M	$27.3M
Convertible senior notes	$247.6M	$281.3M
Total liabilities	$652.7M	$676.6M
Preferred stock: $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding	$0	$0
Additional paid-in capital	$485.8M	$435.9M
Accumulated deficit	-$84.3M	-$71.4M
Accumulated other comprehensive loss	-$1.6M	-$52.0M
Total stockholders equity	$400.0M	$312.5M	$297.4M
Total liabilities and stockholders equity	$1.1B	$989.2M
Preferred stock, par value (in usd per share)	$0.00	$0.00
Preferred stock, shares authorized (in shares)	10.0M shares	10.0M shares
Preferred stock, shares issued (in shares)	0 shares	0 shares
Preferred stock, shares outstanding (in shares)	0 shares	0 shares

Cash from operations⁸⁹¹⁰¹¹¹²⁵$89.5M in 2025+263% since 2018

Capital spending⁸$12.3M in 2020−1% since 2018

Free cash flow⁸⁹¹⁰-$7.8M in 2020

Every line of the cash flow in the latest annual report, as filed.⁵

Period ending	2025-12-31	2024-12-31	2023-12-31
Net loss	-$12.9M	-$6.5M	-$16.3M
Depreciation and amortization	$53.8M	$49.2M	$41.7M
Non-cash reduction to the right-of-use asset	$3.4M	$3.6M	$9.3M
Amortization of debt discount and issuance costs	$1.4M	$1.7M	$2.5M
Stock-based compensation	$52.3M	$48.4M	$37.0M
Deferred taxes and other	-$2.1M	-$4.5M	-$5.9M
Gain on sale of intangible asset	$0	-$1.0M	$0
Net gain on extinguishment of debt	-$1.1M	-$10.3M	-$12.8M
Accounts receivable	-$4.0M	-$8.7M	-$3.5M
Prepaid expenses and other assets	-$1.7M	$4.1M	$2.1M
Accounts payable	$13.1M	-$4.6M	$5.4M
Accrued expenses and other liabilities	-$10.7M	$18.1M	-$10.6M
Operating right-of-use liability	-$1.9M	-$5.6M	-$10.0M
Net cash provided by operating activities	$89.5M	$83.9M	$39.0M
Purchase of property, plant and equipment	-$22.3M	-$14.0M	-$9.3M
Refund of deposits for construction in progress	$0	$2.7M	$0
Capitalized software development costs	-$10.7M	-$11.4M	-$10.6M
Purchase of marketable securities	-$16.1M	-$34.0M	-$80.6M
Proceeds from sales and maturities of marketable securities	$9.7M	$53.5M	$130.1M
Proceeds from sale of business	$361.0K	$779.0K	$1.3M
Proceeds from sale of intangible assets	$0	$1.0M	$0
Net cash used in investing activities	-$39.1M	-$1.4M	$30.8M
Borrowings on line of credit	$28.5M	$206.5M	$0
Repayments on line of credit	-$28.5M	-$206.5M	$0
Payments on finance leases	-$66.0K	-$87.0K	-$157.0K
Net cash paid for debt extinguishment	-$26.1M	-$128.5M	-$51.3M
Payment of debt issuance costs	-$25.0K	-$524.0K	-$710.0K
Proceeds from exercises of stock options	$109.0K	$167.0K	$413.0K
Value of equity awards withheld for tax liabilities	-$2.9M	-$2.3M	-$1.1M
Net cash used in financing activities	-$29.1M	-$131.3M	-$52.8M
Effect of exchange rate changes on cash, cash equivalents and restricted cash	-$440.0K	-$1.2M	$610.0K
Net increase (decrease) in cash, cash equivalents, and restricted cash	$20.9M	-$50.1M	$17.7M
Cash (received from) paid for interest	-$182.0K	$691.0K	-$1.5M
Cash (refunded) paid for taxes, net	-$55.0K	$3.8M	$7.2M
Right-of-use assets obtained in exchange for new operating lease liabilities	$2.7M	$1.9M	$156.0M
Purchase of property, plant and equipment, accrued but not paid	$6.6M	$11.4M	$6.9M
Purchase of property and equipment through lease incentive	$1.9M	$0	$57.3M
Purchase of property and equipment through use of escrow deposits	$0	$0	$20.7M

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The story

Bandwidth was formed in 1999 by David Morken who was later joined by Henry Kaestner as co-founder in 2001, merging Bandwidth International into Bandwidth.com.

In Aug. 2023, Bandwidth moved to a new, purpose-built 40-acre headquarters campus at 2230 Bandmate Way in Raleigh, where the company maintains a workforce of about 1,000 employees as of Aug. 2023.

On November 10, 2017, the company had an initial public offering on the Nasdq which raised $80 million in capital by selling 4 million $20 shares.

On January 11, 2024, Bandwidth terminated its incentive agreement with the state of North Carolina, which required creating over 1,100 local jobs, citing the need for more hiring flexibility outside of Raleigh.

Bandwidth has been noted for its unusual approach of incorporating Christian religion in business, including starting meetings with Christian prayers.

From Wikipedia’s article on Bandwidth Inc., shared under CC BY-SA 4.0.⁷

Products and brands

telecommunications

Listed on Wikidata.¹

Acquisitions

On October 12, 2020, Bandwidth announced it had signed a definitive agreement to acquire Voxbone for an enterprise value of €446 million EUR.