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Sep 30, 2020
Bandwidth Q3 2020 Earnings Report
Announced third quarter 2020 financial results
Key Takeaways
Bandwidth reported a strong third quarter with total revenue of $84.8 million, up 40% year-over-year, and CPaaS revenue of $73.8 million, up 43% year-over-year. The company also raised its annual revenue outlook.
Total third quarter revenue was $84.8 million, a 40% increase year-over-year.
CPaaS third quarter revenue reached $73.8 million, a 43% increase year-over-year.
Active CPaaS customers totaled 2,015, a 25% increase year-over-year.
Dollar-based net retention rate was 131%.
Forward Guidance
Bandwidth provided guidance for its fourth quarter and full year 2020, which includes the outlook for Voxbone from November 1, 2020.
Positive Outlook
- CPaaS revenue is expected to be in the range of $84.3 million to $84.8 million for Q4 2020.
- Total revenue is expected to be in the range of $96.5 million to $97.0 million for Q4 2020.
- Non-GAAP earnings per share is expected to be in the range of $0.03 to $0.05 per share for Q4 2020, using 27.5 million weighted average diluted shares outstanding.
- CPaaS revenue is expected to be in the range of $284.3 million to $284.8 million for full year 2020.
- Total revenue is expected to be in the range of $326.6 million to $327.1 million for full year 2020.
Challenges Ahead
- Bandwidth has not reconciled its fourth quarter and full-year guidance related to non-GAAP net earnings or loss to GAAP net earnings or loss.
- Bandwidth has not reconciled non-GAAP earnings or loss per share to GAAP earnings or loss, because stock-based compensation cannot be reasonably calculated or predicted at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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