BANDWIDTH INC Reports Earnings Results for FY2023 Q2, Ending June 30 2023
August 26, 2023
🌥️Earnings Overview
On August 3 2023, BANDWIDTH INC ($NASDAQ:BAND) disclosed their earnings results for the quarter ending June 30 2023. Total revenue was USD 145.9 million, an increase of 6.9% from the same period in FY2022. Net income for the quarter was USD -3.9 million, a decrease from the previously reported -6.2 million in FY2022.
Market Price
On Thursday, BANDWIDTH INC reported its earnings results for the second quarter of the fiscal year 2023, which ended on June 30 2023. The stock opened at $15.1 on Thursday and closed at $15.8, a soar of 14.0% from its last closing price of 13.9. The impressive result was welcomed with enthusiasm by investors, as the stock’s value has continued to rise steadily over the past few months. The company’s financial statements for the second quarter of FY2023 showed positive growth in terms of both revenue and profits.
The company attributed its success to its focus on providing customers with reliable bandwidth solutions. Analysts are confident that BANDWIDTH INC will continue to report impressive financial results in the coming quarters, especially as the demand for bandwidth solutions continues to increase. Overall, the company is in a strong position to capitalize on the growing market demand for bandwidth services in the near future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bandwidth Inc. More…
| Total Revenues | Net Income | Net Margin |
| 589.02 | 32.35 | -0.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bandwidth Inc. More…
| Operations | Investing | Financing |
| 31.31 | 61.73 | -169.55 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bandwidth Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 917.28 | 625.38 | 11.41 |
Key Ratios Snapshot
Some of the financial key ratios for Bandwidth Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 30.0% | -5.3% | 2.9% |
| FCF Margin | ROE | ROA |
| -2.9% | 3.7% | 1.2% |
Analysis
At GoodWhale, we have carried out an extensive analysis of BANDWIDTH INC‘s fundamentals. Our Risk Rating shows that this investment is high risk in terms of both financial and business aspects. We have identified 3 risks in the income sheet, balance sheet and cashflow statement. If you want to know more about these risks, please become a registered user of GoodWhale. As a registered user, you can access our comprehensive analysis and risk warnings to help you make informed decisions when investing. More…
Peers
In the business world, competition is inevitable. Bandwidth Inc. is no stranger to this, as it competes with Consensus Cloud Solutions Inc., 8×8 Inc., and Smartsheet Inc. While each company has its own unique selling points, they all share one common goal: to be the best in the industry. In order to succeed, each company must constantly strive to outdo its competitors. This means offering better products and services, being more efficient, and providing more value to customers. While competition can be fierce, it also brings out the best in companies. It forces them to innovate and improve, which benefits everyone involved.
– Consensus Cloud Solutions Inc ($NASDAQ:CCSI)
Consensus Cloud Solutions Inc has a market cap of 1.05B as of 2022. The company’s ROE for the same year is -31.25%. Consensus Cloud Solutions Inc is a cloud computing company that provides services to businesses and organizations. The company’s services include cloud storage, cloud computing, cloud security, and cloud-based software.
– 8×8 Inc ($NYSE:EGHT)
8×8 Inc is a provider of cloud-based, enterprise-class software solutions designed to meet the communication and collaboration needs of businesses of all sizes. The company has a market cap of $375.89 million and a return on equity of -56.22%. 8×8 offers a suite of products that include VoIP, video conferencing, chat, contact center, and virtual office solutions.
– Smartsheet Inc ($NYSE:SMAR)
Smartsheet is a cloud-based platform that allows users to create, share, and manage workflows and projects. The company has a market cap of 4.47B as of 2022 and a ROE of -29.14%.
Summary
BANDWIDTH INC reported strong earnings results for the second quarter of fiscal 2023, with total revenue increasing by 6.9%, and net income dropping from -6.2 million to -3.9 million year-over-year. On the day these results were announced, the stock price moved up. From an investing perspective, the company’s performance is encouraging, particularly with regards to the revenue increase. Investors should watch for any further updates to the company’s financials and other news impacting the stock.
Additionally, an analysis of the company’s long-term financial outlook will be helpful in determining whether BANDWIDTH INC is a good investment opportunity.
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