Financial PerformanceBandwidth posted strong Q1/24 results ahead of both our and consensus expectations, with record quarterly revenue of $171M, up 24% YoY.
Growth DriversBandwidth will benefit from several growth drivers in 2024, including strong political messaging demand, increasing international traffic, a growing messaging business, improving gross margin, and an opportunity to grow with a large new cohort of customers.
Strategic InitiativesThe company announced that it repurchased the majority of its remaining 2026 converts, improving the balance sheet.