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Mar 31, 2020
Bandwidth Q1 2020 Earnings Report
Announced first quarter 2020 financial results, demonstrating revenue growth and increased customer base.
Key Takeaways
Bandwidth reported a 29% year-over-year increase in total revenue, reaching $68.5 million for the first quarter of 2020. CPaaS revenue grew by 31% year-over-year to $59.1 million, and the company's active CPaaS customer base increased by 34% to 1,808. The dollar-based net retention rate was 126%.
Total first quarter revenue reached $68.5 million, a 29% increase year-over-year.
CPaaS revenue for the first quarter was $59.1 million, up 31% year-over-year.
The number of active CPaaS customers totaled 1,808, representing a 34% increase year-over-year.
Dollar-based net retention rate was 126% for the first quarter.
Forward Guidance
Bandwidth provided guidance for the second quarter and full year 2020.
Positive Outlook
- Second Quarter 2020 Guidance: CPaaS revenue is expected to be in the range of $61.5 million to $62.0 million.
- Second Quarter 2020 Guidance: Total revenue is expected to be in the range of $70.2 million to $70.7 million.
- Second Quarter 2020 Guidance: Non-GAAP earnings per share is expected to be in the range of a loss of ($0.01) to earnings of $0.01 per share, using 23.8 million weighted average shares outstanding or 24.6 million weighted average diluted shares outstanding, respectively.
- Full Year 2020 Guidance: CPaaS revenue is expected to be in the range of $246.8 million to $248.3 million.
- Full Year 2020 Guidance: Total revenue is expected to be in the range of $281.6 million to $283.1 million.
Challenges Ahead
- Second Quarter 2020 Guidance: Non-GAAP earnings per share is expected to be in the range of a loss of ($0.01).
- Full Year 2020 Guidance: Non-GAAP earnings per share is expected to be in the range of a loss of ($0.03).
Historical Earnings Impact
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Avg. Return Before/After Earnings
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