Bandwidth reports Q2 EPS , consensus 6c

Reports Q2 revenue $146M, consensus $209.79M. “I am pleased with our business performance and financial results in Q2 2023 demonstrating solid execution and a focus on serving our customers through a challenging economic environment,” said CEO David Morken. “Looking to the remainder of the year, we will maintain our strong focus on disciplined execution and expanded profitability while leveraging our global reach, regulatory experience, enterprise-grade APIs, and breakthrough innovations like Maestro for the benefit of our customers.” “We achieved Q2 revenue of $146M and Adjusted EBITDA of $11M, both of which exceeded their respective guidance ranges,” said Daryl Raiford, CFO. “Against a backdrop of a choppy economic environment, these results demonstrate our value proposition is strong and core business model is resilient. Accordingly, we are increasing our full year revenue guidance to reflect our first half revenue over achievement and continue to target year-over-year profitability growth of 30%.”