Bandwidth Announces Fourth Quarter and Full Year 2023 Financial Results, Exceeding Revenue and Profitability Guidance
RALEIGH, N.C., Feb. 28, 2024 /PRNewswire/ -- Bandwidth Inc. (NASDAQ: BAND), a leading global enterprise cloud communications company, today announced financial results for the fourth quarter and full year ended December 31, 2023.
- A reconciliation of GAAP to Non-GAAP financial measures has also been provided in the financial tables included below.
- "In 2023 we grew profitability 39 percent which contributed to our record second half 2023 free cash flow generation of $31 million," said Daryl Raiford, Bandwidth's Chief Financial Officer.
- For 2024 we are guiding double-digit revenue growth and an adjusted EBITDA midpoint of $72 million representing a 50 percent increase in profitability.
- Bandwidth is providing guidance for its first quarter and full year 2024 as follows: