Bandwidth(BAND)2025-05-07 10:31Financial Performance - First quarter 2025 revenue reached $174 million, exceeding guidance and showing a year-over-year increase from $171 million[1][4] - Adjusted EBITDA for Q1 2025 was $22 million, representing a 40% increase compared to $16 million in Q1 2024[4] - Bandwidth raised its full-year revenue guidance to a range of $745 million to $760 million, reflecting 9% to 11% year-over-year growth[9][10] - The company anticipates $178 million to $180 million in revenue for Q2 2025[10] - Revenue for the three months ended March 31, 2025, was $174,241 thousand, an increase of 1.3% from $171,033 thousand in the same period of 2024[25] - Gross profit increased to $71,512 thousand, representing a gross profit margin of 41%, up from 38% in the prior year[30] - Non-GAAP net income for the three months ended March 31, 2025, was $11,130 thousand, compared to $7,820 thousand in the same period of 2024[32] - Adjusted EBITDA for the quarter was $22,213 thousand, an increase from $15,923 thousand in the prior year[34] Loss and Cash Flow - Bandwidth reported a net loss of $4 million in Q1 2025, an improvement from a net loss of $9 million in Q1 2024[4] - Free cash flow for Q1 2025 was $(13) million, compared to $(4) million in Q1 2024[4] - Net loss for the quarter was $3,740 thousand, significantly improved from a net loss of $9,233 thousand in the same quarter of 2024[29] - Free cash flow for the quarter was $(13,295) thousand, compared to $(4,407) thousand in the same period of 2024[35] - Cash and cash equivalents at the end of the period were $36,155 thousand, down from $105,565 thousand at the end of the same quarter in 2024[29] Operational Highlights - The company is focusing on AI-powered communications through its Maestro platform, enhancing integration and infrastructure modernization for enterprises[2] - Bandwidth secured several new customer engagements, including a prominent healthcare provider and a publicly traded hospital group, highlighting its capabilities in cloud voice services and AI integration[13] - The company is actively participating in market expansion and strategic initiatives, as evidenced by its upcoming investor conference and updated investor presentation[11][12] Balance Sheet - Total current assets decreased to $151,412 thousand from $187,812 thousand as of December 31, 2024[27] - Total liabilities decreased to $618,968 thousand from $676,633 thousand as of December 31, 2024[27] - Stock-based compensation expense totaled $13,575 thousand, up from $12,339 thousand in the prior year[29] Gross Margin - Gross margin improved to 41% in Q1 2025, up from 38% in Q1 2024, while non-GAAP gross margin increased to 59% from 57%[4]