Sunday 18 October 2026 Export BAND’s income statement to Excel — free account

Bandwidth Inc.

Bandwidth Inc.’s revenue for fiscal 2025 (year ended December 2025) was $753.8 million, up 0.71% from fiscal 2024. In the quarter to June 2026, revenue grew 22.2%, EPS grew 143.8%, free cash flow fell 7.38% and total debt rose 33.9%, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for three.

43.34 6.26 −12.62%

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Market cap: $1.6B
P/E: 722×
Fwd P/E: 188×
Dividend yield: —
F-score: 6/9
Altman Z: 1.06
Beneish M: −2.88
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 19.48

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	9	—	—	7	2	16	4	—	10	4	—

Insider Ownership 9.30%

Capital & Financial Ratios $m

Market Cap 1,600.00

Revenue 828.24

Net Income 2.26

Free Cash Flow 67.37

Net Debt 156.41

Current Ratio 2.04

Debt/Equity 0.87

P/E ratio 722.33

Fwd P/E 188.00

P/S ratio 1.68

P/B ratio 3.50

Past 5Y EPS Growth —

This Y EPS Growth 22.38%

Next Y EPS Growth 9.62%

Next Y revenue growth 20.15%

Next 5Y EPS Growth 26.58%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 92.13%

10-year low 10-year high

P/S against its own 10 years 48.22%

10-year low 10-year high

P/B against its own 10 years 48.14%

10-year low 10-year high

EV/Sales against its own 10 years 49.07%

10-year low 10-year high

EV/FCF against its own 10 years 39.78%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	153	84	111	174
Receivables	78	86	91	110
Inventory	—	—	—	—
Other	—	—	—	—
	253	188	219	306

	2023	2024	2025	Q'26
Payables	34	28	43	49
ST’ Debt	—	—	—	—
Other	6	4	—	—
	123	140	154	150

Compound Annual Growth %

	10y	5y	3y
Sales	18.52%	17.05%	9.56%
Cash Flow	0.00%	81.70%	36.87%
Earnings	0.00%	0.00%	0.00%
Book Value	0.00%	(1.43%)	13.69%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	209	220	—	—	—
’25	174	180	192	208	754
’24	171	174	194	210	748
’23	138	146	152	165	601
’22	131	136	148	157	573
’21	113	121	131	126	491
’20	69	77	85	113	343

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	9	29	—	—	—
’25	(3)	32	22	39	89
’24	2	24	20	37	84
’23	(6)	3	23	19	39
’22	(7)	7	24	11	35
’21	10	(1)	15	17	41
’20	(8)	7	12	(7)	5

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1)	24	—	—	—
’25	(13)	26	13	31	57
’24	(4)	18	18	30	62
’23	(11)	(1)	18	13	19
’22	(13)	(12)	13	(18)	(29)
’21	2	(19)	12	8	4
’20	(12)	3	9	(10)	(10)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.12	0.07	—	—	—
’25	(0.13)	(0.16)	(0.04)	(0.10)	(0.43)
’24	(0.35)	0.14	0.01	(0.06)	(0.24)
’23	0.12	(0.15)	(0.20)	(0.42)	(0.64)
’22	(0.27)	(0.25)	(0.03)	1.18	0.63
’21	(0.21)	(0.28)	(0.28)	(0.33)	(1.09)
’20	(0.04)	(0.86)	(0.10)	(0.81)	(1.83)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	18.05	19.45	39.42	50.89	62.07	9.20	9.34	11.90	11.33	Analyst estimates 2026–2028 Powerpack
	High	—	24.99	57.50	90.63	198.61	196.70	73.99	29.07	25.02	19.88
People
People	Employees	338	378	611	772	960	1,100	1,100	1,100	1,100	1,100
	Revenue/emp, $m	0.45	0.43	0.33	0.30	0.36	0.45	0.52	0.55	0.68	0.69
Income, $m
Income, $m	Revenue	152	163	204	233	343	491	573	601	748	754
	Gross margin, %	43.99	45.22	47.02	46.28	44.86	43.55	41.59	39.29	37.40	39.14
	EBT	14	13	7	(15)	(29)	(31)	17	(19)	(9)	(17)
	EBT margin, %	9.42	7.91	3.46	(6.55)	(8.44)	(6.35)	3.02	(3.21)	(1.20)	(2.20)
	Net income	22	6	18	2	(44)	(27)	20	(16)	(7)	(13)
	Depreciation	7	6	6	13	37	69	46	54	55	59
Per share, $
Per share, $	Revenue	13.03	12.94	10.99	10.27	14.24	19.57	22.67	23.47	27.51	25.13
	Earnings	1.91	0.42	0.96	0.11	(1.83)	(1.09)	0.77	(0.64)	(0.24)	(0.43)
	Cash flow	0.44	1.16	1.33	(0.06)	0.19	1.63	1.38	1.52	3.08	2.98
	Capex	(0.52)	(0.63)	(0.78)	(1.14)	(0.61)	(1.48)	(2.53)	(0.78)	(0.80)	(1.10)
	Free cash flow	(0.08)	0.53	0.55	(1.19)	(0.42)	0.14	(1.15)	0.75	2.29	1.89
	Book value	(1.92)	6.09	5.86	11.93	17.84	16.44	10.77	11.61	11.49	13.33
	Shares, m	12	13	19	23	24	25	25	26	27	30
Valuation, ×
Valuation, ×	P/E	44.92	46.66	41.16	492.69	0.00	0.00	28.86	0.00	0.00	0.00
	P/S	0.40	1.80	3.71	6.23	10.79	3.67	0.98	0.61	0.62	0.61
	P/B	0.00	3.81	6.96	5.37	8.61	4.36	2.06	1.23	1.48	1.16
	EV/Sales	0.61	1.80	3.59	5.55	11.28	3.99	1.51	1.06	0.92	0.83
	EV/FCF	30.78	44.04	72.01	(47.75)	(384.07)	539.24	(29.66)	33.22	11.20	11.05
Cash, $m
Cash, $m	Operating cash flow	5	15	25	(1)	5	41	35	39	84	89
	Capex	(6)	(8)	(14)	(26)	(15)	(37)	(64)	(20)	(22)	(33)
	Free cash flow	(1)	7	10	(27)	(10)	4	(29)	19	62	57
Balance, $m
Balance, $m	Working capital	(2)	41	59	181	101	319	166	130	47	65
	Total debt	45	0	—	20	282	486	481	419	281	248
	Net debt	38	(38)	(59)	(165)	161	154	296	265	197	136
	Shareholders’ equity	(22)	77	109	270	430	413	272	297	313	400
Returns, %
Returns, %	ROA	29.16	6.11	14.06	1.01	(7.14)	(2.80)	1.96	(1.61)	(0.62)	(1.26)
	ROIC	60.77	23.37	8.46	(10.52)	(1.43)	(0.25)	(2.68)	(3.94)	(2.46)	(1.67)
	ROE	(93.65)	19.61	19.33	1.32	(12.56)	(6.50)	5.72	(5.74)	(2.14)	(3.62)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
AI C3.ai, Inc.	$2.0B	— (loss-making)	— (loss-making)	−25.46% (below 0%: shrinking)	n/m	+106.02% (above 0%: growing)	31.83%	(187.62%)	Compare
FORG ForgeRock, Inc.	$2.0B	— (loss-making)	— (loss-making)	+22.25% (above 0%: growing)	n/m	+28.02% (above 0%: growing)	77.49%	(51.61%)	Compare
EVTC Evertec, Inc.	$1.9B	20.3×	19.2×	+19.69% (above 0%: growing)	−85.71% (below 0%: shrinking)	+20.64% (above 0%: growing)	54.79%	19.39%	Compare
ATEN A10 Networks, Inc.	$1.8B	40.8×	38.9×	+15.50% (above 0%: growing)	−20.00% (below 0%: shrinking)	+53.34% (above 0%: growing)	79.09%	11.26%	Compare
NN NextNav Inc.	$1.8B	— (loss-making)	— (loss-making)	−4.33% (below 0%: shrinking)	n/m	−33.14% (below 0%: shrinking)	(78.70%)	(1,760.78%)	Compare
NYAX Nayax Ltd.	$1.7B	209×	174×	+28.25% (above 0%: growing)	n/m	−335.31% (below 0%: shrinking)	46.86%	(5.42%)	Compare
PRGS Progress Software Corporation	$1.7B	18.6×	32.5×	−1.52% (below 0%: shrinking)	+23.27% (above 0%: growing)	+19.24% (above 0%: growing)	82.74%	18.92%	Compare
BAND Bandwidth Inc.	$1.6B	722×	188×	+22.16% (above 0%: growing)	n/m	−7.38% (below 0%: shrinking)	35.72%	(2.07%)
PGY Pagaya Technologies Ltd.	$1.5B	11.5×	10.3×	+18.58% (above 0%: growing)	+165.00% (above 0%: growing)	+33.06% (above 0%: growing)	43.49%	27.34%	Compare
Median of peers	$1.8B	20.3×	32.5×	+17.04%	+1.63%	+24.33%	50.83%	2.92%

All 173 Software Infrastructure stocks →

Bandwidth Inc. (BAND) key facts

Strength: Bandwidth Inc.’s revenue for fiscal 2025 (year ended December 2025) was $753.8 million, up 0.71% from fiscal 2024.
Bandwidth Inc. (BAND) is a Software Infrastructure company in the Technology sector, listed on Nasdaq.
As of October 16, 2026, BAND traded at $43.34, a market capitalization of $1.6 billion.
Return on equity was −3.62% and debt-to-equity 0.87.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 1.06 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.