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Bandwidth (BAND) investor relations material
Bandwidth Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue reached $180M, with Adjusted EBITDA of $22M, both exceeding expectations and up 17% year-over-year, driven by AI strategy, enterprise wins, and strong customer acquisition.
AI voice investments and Maestro platform adoption fueled $1M+ multiyear deals and differentiated enterprise offerings.
Channel partnerships and direct sales contributed to record deal volume, especially in regulated industries and healthcare.
Net retention rate improved to 112%, with customer name retention above 99% and record average annual revenue per customer at $230K.
Growth was offset by lower political messaging activity post-2024 U.S. election.
Financial highlights
Q2 2025 revenue: $180M, up 4–9% year-over-year normalized for political campaign revenue; cloud communications revenue up 8%.
Non-GAAP gross profit was $79M, up 11% year-over-year; Non-GAAP gross margin improved to 58–59%.
Adjusted EBITDA for Q2 2025 was $21.9M–$22M, up 17% year-over-year; free cash flow was $25.6M–$26M (19% margin).
Net retention rate at 112%; customer retention above 99%; average annual revenue per customer at $230K.
Non-GAAP net income for Q2 2025 was $11.8M, up from $8.7M year-over-year.
Outlook and guidance
Full-year 2025 revenue guidance raised to $745M–$760M, projecting 9–11% organic growth; Adjusted EBITDA outlook increased to $86M–$91M.
Q3 2025 revenue guidance is $189M–$191M; Adjusted EBITDA guidance for Q3 is $19M–$21M.
Confident in achieving second-half acceleration, margin expansion, and robust cash generation.
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