Bandwidth announces fourth quarter & full year 2018 financial results

George Perry
George Perry
Bandwidth Orange Newspapers

RALEIGH, N.C., Feb. 13, 2019 /PRNewswire/ — Bandwidth Inc. (NASDAQ: BAND), a software company focused on communications for the enterprise, today announced financial results for the fourth quarter and full year ended December 31, 2018.

“The fourth quarter was a strong finish to an outstanding year,” stated David Morken, chief executive officer of Bandwidth. “Demand for our offerings remains robust as our combination of flexible APIs and a vertically integrated all-IP voice network clearly resonates with enterprise customers. The foundation of our strong results are rooted in serving our enterprise customers well and continuing to expand those relationships.  Additionally, we  significantly expanded our sales, marketing and technology teams and are excited about the potential of our augmented sales team coming to full productivity throughout 2019.  We believe we are well positioned to capitalize on a growing CPaaS market in 2019 and are committed to our customer’s success in the year ahead.”

Fourth Quarter 2018 Financial Highlights

Full Year 2018 Financial Highlights

Additional information regarding the non-GAAP financial measures discussed in this release, including an explanation of these measures and how each is calculated are included below under the heading “Non-GAAP Financial Measures.” A reconciliation of GAAP to non-GAAP financial measures has also been provided in the financial tables included below.

Fourth Quarter 2018 Key Metrics

Additional information regarding our active CPaaS customers and dollar-based net retention rate and how each are calculated are included below.

Financial Outlook

As of February 13, 2019, Bandwidth is providing guidance for its first quarter and full year 2019 as follows:

Bandwidth has not reconciled its first quarter and full-year guidance related to non-GAAP net loss to GAAP net loss and non-GAAP loss per share to GAAP loss, because stock-based compensation cannot be reasonably calculated or predicted at this time. Accordingly, a reconciliation is not available without unreasonable effort.

Quarterly Conference Call

Bandwidth will host a conference call today at 5:00 p.m. Eastern Time to review the Company’s financial results for the fourth quarter ended December 31, 2018.  To access this call, dial (877) 407-0792 for the U.S. or Canada, or (201) 689-8263 for international callers. A live webcast of the conference call will be accessible from the Investors section of Bandwidth’s website at https://investors.bandwidth.com, and a recording will be archived and accessible at https://investors.bandwidth.com. An audio replay of this conference call will also be available through February 20, 2019, by dialing (844) 512-2921 for the U.S. or Canada, or (412) 317-6671 for international callers, and entering passcode 13686329.

About Bandwidth Inc.

Bandwidth (NASDAQ: BAND) is a software company focused on communications for the enterprise. Companies like Google, Microsoft, and Ring Central use Bandwidth’s APIs to easily embed voice, messaging and 9-1-1 access into software and applications. Bandwidth is the first and only CPaaS provider offering a robust selection of communications APIs built around their own nationwide IP voice network- one of the largest in the nation.  More information available at www.bandwidth.com.