Q2 2024 Bandwidth Inc Earnings Call Transcript
Key Points
- Bandwidth Inc (BAND) reported strong revenue growth of 19% year-over-year, reaching $174 million.
- Adjusted EBITDA increased by 77% from the prior year, surpassing the high end of guidance.
- Free cash flow was significantly higher at $18 million, nearly $20 million over last year's quarter.
- The company achieved a net retention rate of 111%, an improvement from the previous year.
- Bandwidth Inc (BAND) successfully reduced its outstanding debt, repurchasing $140 million of its 2026 convertible notes at a significant discount.
- Despite strong performance, the company maintained a conservative outlook for the second half of the year.
- There was a noted deceleration in messaging growth, which was 33% compared to 50% in the previous quarter.
- The company faces seasonality and usage pattern challenges that could impact future growth rates.
- The remaining $35 million of 2026 convertible notes will sit until maturity, potentially impacting future financial flexibility.
- The competitive landscape remains challenging, with no significant changes in customer mix or competitive dynamics.
Good day and welcome to the bandwidth Inc. second quarter 2020 fourth earnings conference call. Today, all participants will be in a listen only mode. Should you need assistance during today's call, please fill for a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask your questions. To ask a question, you may press star, then one on your touchtone phone. To withdraw your question, please press star then two. Please note that today's event is being recorded. I would now like to turn the conference over to Sarah Walas, Vice President of Investor Relations. Please go ahead.
Thank you, and welcome to bandwidth Second Quarter 2024 earnings call today will discuss the results announced in our press release issued earlier today. The press release and an earnings presentation with historical financial highlights can be found on the Investor Relations page at investors dot bandwidth.com. With me on the call today is David Morgan, our CEO., and Daryl Raiford,
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
