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Bandwidth (BAND) investor relations material
Bandwidth Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered strong Q3 2025 results with revenue and adjusted EBITDA exceeding guidance, driven by accelerating growth in core voice business, software, and increased adoption of AI-powered solutions.
Achieved record pace of million-dollar-plus deals, with broad-based demand from Global 2000 enterprises and notable wins in financial services, healthcare, digital commerce, logistics, property management, and government credit unions.
Advanced AI and software strategy, launching new products such as Bandwidth AI, AI Receptionist, and Activation Agent, expanding recurring software-driven revenue, and receiving positive customer feedback.
Strengthened position as a trusted platform for mission-critical communications, emphasizing innovation, customer trust, and operational excellence.
Focused on cross-selling, direct-to-enterprise growth, and being a preferred provider for SaaS platforms.
Financial highlights
Q3 2025 revenue was $191.9 million, down 1% year-over-year; nine-month revenue was $546.1 million, up 1%; trailing twelve months revenue reached $756 million.
Adjusted EBITDA for Q3 2025 was $24.3 million, with a nine-month total of $68.4 million and TTM of $92 million.
Q3 2025 non-GAAP gross margin was 58%, with GAAP gross margin at 38%; free cash flow for Q3 2025 was $13.1 million, and nine-month free cash flow was $25.5 million.
Q3 2025 net loss was $1.2 million; nine-month net loss was $9.9 million.
Cash and cash equivalents at September 30, 2025, were $73.4 million, with $7 million in marketable securities.
Outlook and guidance
Full-year 2025 revenue guidance is $747 million to $760 million, representing 9–11% year-over-year growth when adjusted for political messaging cycles.
Full-year 2025 Adjusted EBITDA guidance is $89 million to $92 million, with non-GAAP EPS of about $1.3.
2026 expected to benefit from growth in Voice, Voice AI, higher software revenue, and a strong political messaging season.
Medium-term 2026 targets include above-market revenue growth, 60%+ gross margin, 20%+ EBITDA margin, and 15%+ free cash flow margin.
Management expects liquidity to be sufficient for at least the next 12 months.
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