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Sep 30, 2023
Bandwidth Q3 2023 Earnings Report
Bandwidth's Q3 2023 financial results were announced, exceeding revenue and profitability guidance, and making strong progress towards 30% annual growth in profitability, achieving record free cash flow.
Key Takeaways
Bandwidth announced that it exceeded revenue and profitability guidance for Q3 2023 and is on track to achieve 30% annual growth in profitability. The company also achieved record free cash flow during the quarter.
Revenue and profitability exceeded guidance for the third quarter.
Made strong progress towards the goal of growing profitability by 30% for the full year.
Achieved record Free Cash Flow.
Positioned for a solid fourth quarter and full year of profitable growth.
Forward Guidance
Bandwidth provided guidance for its fourth quarter and full year 2023.
Positive Outlook
- Q4 2023 Revenue is expected to be between $153 million and $155 million.
- Full Year 2023 Revenue is expected to be between $589 million and $591 million.
- Q4 2023 Adjusted EBITDA is expected to be between $15 million and $17 million.
- Full Year 2023 Adjusted EBITDA is expected to be between $44 million and $46 million.
- Momentum from commercial messaging and enterprise customers.
Challenges Ahead
- Stock-based compensation cannot be reasonably calculated or predicted at this time.
- Macro backdrop remains constrained.
- Outlook is based on current indications for its business, which are subject to change.
- Risks related to rapid growth and ability to sustain revenue growth rate.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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