- Bandwidth (NASDAQ:BAND) is up 10.2% after hours following its release of Q3 earnings, its first report since starting trading Nov. 10.
- Revenues grew steadily and gross profit ticked up to $19.9M (non-GAAP basis) from a year-ago $18.3M. Gross margin rose to 48% from 47%.
- Net income dipped slightly, to $2.2M (non-GAAP) from a year-ago $3.7M. EBITDA of $5.2M beat an expected $4.2M.
- Active CPaaS customers were 918, up 18% Y/Y as of Sept. 30. Dollar-based net retention rate was 105% vs. a year-ago 112% mainly due to a "decision to curtail services to a competitor."
- Cash and equivalents were $5.4M, with $38.5M in debt as of Sept. 30; the Nov. 14 IPO generated $74.4M, some of which was used to pay the outstanding term loan facility.
- For Q4, it's guiding to total revenue of $41.4M-$41.9M (vs. $41.5M consensus), with CPaaS revenue coming in at $34.2M-$34.7M. It sees non-GAAP EPS of $0.00-$0.01, above consensus for -$0.02.
- For the full year, total revenues are forecast at $161.9M-$162.4M, above consensus for $161.5M. EPS is forecast at $0.50-$0.51, vs. consensus for $0.66.
- Conference call to come at 5 p.m. ET.
- Press release
- Now read: Bandwidth IPO Download: Can It Compete Against Twilio?
Original article