Business
Bandwidth Announces Fourth Quarter and Full Year 2019 Financial Results
Total fourth quarter revenue of $62.0 million, up 18% year-over-year CPaaS fourth quarter revenue of $53.4 million, up 21% year-over-year Active CPaaS
About this update from Bandwidth Inc.
[{"type":"text","content":"Total fourth quarter revenue of $62.0 million, up 18% year-over-year\n CPaaS fourth quarter revenue of $53.4 million, up 21% year-over-year\n Active CPaaS customers of 1,728, up 40% year-over-year\n Fourth quarter dollar-based net retention rate of 113%\n\n\nRALEIGH, N.C., Feb. 20, 2020 /PRNewswire/ -- Bandwidth Inc. (NASDAQ: BAND), a software company focused on communications for the enterprise, today announced financial results for the fourth quarter and full year ended December 31, 2019. \n\"We finished 2019 strong with a fourth quarter fueled by robust dollar-based net retention and the continued growth of net new and total customers. We serve and collaborate well with our enterprise customers who depend on us for their mission-critical communication needs,\" stated David Morken, chief executive officer of Bandwidth. \"We begin 2020 with momentum provided by our expanded go-to-market teams, our robust platform of flexible APIs, and a powerfully integrated nationwide IP voice network.\"\nFourth Quarter 2019 Financial Highlights \nRevenue: Total revenue for the fourth quarter of 2019 was $62.0 million, up 18% compared to $52.3 million in the fourth quarter of 2018. Within total revenue, CPaaS revenue was $53.4 million, up 21% compared to $44.1 million for the fourth quarter of 2018. Other revenue contributed the remaining $8.6 million for the fourth quarter of 2019. Other revenue was $8.2 million in the same period last year. Gross Profit: Gross profit for the fourth quarter of 2019 was $29.0 million, compared to $23.6 million for the fourth quarter of 2018. Gross margin for the fourth quarter of 2019 was 47%, compared to 45% for the fourth quarter of 2018. Non-GAAP gross profit for the fourth quarter of 2019 was $31.1 million, compared to $24.9 million for the fourth quarter of 2018. Non-GAAP gross margin was 50% for the fourth quarter of 2019, compared to 48% for the fourth quarter of 2018. Adjusted EBITDA: Adjusted EBITDA was $1.2 million for the fourth quarter of 2019, compared to $(0.1) million for the fourth quarter of 2018.Net Loss: Net loss for the fourth quarter of 2019 was $(2.0) million, or $(0.08) per share, based on 23.5 million weighted average shares outstanding. During the fourth quarter of 2018, net loss was $(1.3) million, or $(0.07) per share, based on 19.4 million weighted average shares outstanding. Non-GA...